BPH ENERGY LTD — Capital/Financing Update 2018

Oct 25, 2018

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25 October 2018

Companies Announcements Office Australian Securities Exchange Limited 10th Floor,

20 Bridge Street SYDNEY NSW 2000

Dear Sir/Madam,

ADDITIONAL INFORMATION IN RESPECT OF LISTING RULE 7.1A PLACEMENT

The Company wishes to provide, in accordance with Listing Rules 3.10.5A and 7.1A.3, further information with respect to the private placement (“Placement”) of 145,050,000 fully paid ordinary shares announced on 25 October 2018:

1. 69,928,113 shares have been issued within its remaining 15% approval limit under Listing Rule 7.1 and 75,121,887 shares under the additional 10% approval limit approved by shareholders at the last Annual General Meeting under Listing Rule 7.1A.

2. The shares are being issued pursuant to its 10% capacity under ASX Listing Rule 7.1A in conjunction with a rights issue announced on 25 October 2018.

3. The issue is not underwrittten and there are no fees payable in connection with the issue.

4. Once the Company issued the 69,928,113 ordinary shares within its remaining 15% approval limit under ASX Listing Rule 7.1 there were 1,111,115,530 ordinary shares on issue. The issue of the additional 75,121,887 ordinary shares within its 10% approval limit under ASX Listing Rule 7.1A resulted in a dilution of 6.8%.

5. The non-cash consideration received for the 75,121,887 shares issued under Listing Rule 7.1A is set out in the valuation report lodged with ASX dated 25 October 2018.

Yours Sincerely

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David Breeze Managing Director

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