BPH ENERGY LTD — Capital/Financing Update 2018

Dec 19, 2018

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19 December 2018

Companies Announcements Office ASX Limited 10[th] Floor, 20 Bridge Street SYDNEY NSW 2000

Dear Sir/Madam,

COMPLETION OF RIGHTS ISSUE

The Company is pleased to confirm the allotments under its Non-Renounceable Rights Issue announced on 24 October 2018:

	Number ofshares	Cashsubscriptions	Offsets (asidentified in theEntitlements IssueProspectus)
Issued under accepted rightsissue applications	321,433,782	$321,434	Not applicable
Issued under accepted shortfallapplications	310,750,411	$310,750	Not applicable
Issued under offset arrangements	158,536,048	Not applicable	$158,536
Totals	790,720,241	$632,184	$158,536

The directors are considering placement of the remaining 395,517,176 shortfall shares.

Yours sincerely

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David Breeze Chairman

BPH Energy Ltd ACN 095 912 002 PO Box 317, North Perth, Western Australia 6906 14 View Street, North Perth, Western Australia 6006 admin@bphenergy.com.au www.bphenergy.com.au T: +61 8 9328 8366 F: +61 8 9328 8733