BPH ENERGY LTD — Capital/Financing Update 2020

Aug 26, 2020

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27 August 2020

Companies Announcement Office ASX Limited Exchange Centre Level 4, 20 Bridge Street Sydney, NSW 2000

Dear Sir/Madam

RESULTS OF NON RENOUNCEABLE RIGHTS ISSUE

BPH Energy Ltd is pleased to confirm that its non-renounceable rights issue announced on 23 July 2020 has closed with the following result:

• Applications were received for 266,783,294 shares totaling $4,001,749 including applications for 137,698,578 shortfall shares totaling $2,065,479. Total applications include applications for 17,475,172 shares totaling $262,128 to be settled by amounts owing to the applicants by the Company, including applications for 773,951 shortfall shares totaling $11,609. Net funds received were $3,739,621.

• Based on the capital structure of the Company as at the date of the nonrenounceable rights issue Prospectus, a maximum of 161,289,728 shares and 80,644,864 new options will be issued pursuant to the offer to raise up to $2,419,346. The directors are currently determining the shortfall allocation.

• In accordance with the previously announced timetable, subject to confirmation with ASX, issue of shares will occur on 31st August 2020, with quotation on the ASX on 1 September 2020.

The company has previously announced its intention to apply these funds to its investments including exploration into oil and gas. This fund raising together with cash at bank puts the company into a position to pursue these objectives.

Authorised by

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David Breeze Executive Director

BPH Energy Limited ACN 95 912 002 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