EMPEROR ENERGY LIMITED — Capital/Financing Update 2021

Jun 17, 2021

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18 June 2021

ASX Market Announcements Australian Stock Exchange Limited 20 Bridge Street Sydney NSW 2000

Emperor Energy raises $1,000,000 in heavily oversubscribed capital raise

Highlight

• Emperor Energy Limited (EMP or the Company) has received firm commitments to raise $1,000,000 through the issue of 33.33 million shares at 3 cents per share ( The Placement ).

• Emperor Energy Limited intends to settle its creditors via the allocation of 0.833 million shares at an issue price of $0.03 per share to a total value of $25,000.00

• The Placement was non-brokered and attracted strong demand from existing shareholders who qualify as sophisticated or professional investors.

• The net proceeds of the Placement strengthen the Company’s balance sheet and provide important funding to company exploration activities.

Placement

The Company has raised $1,000,000 capital from professional, sophisticated and other exempt investors through the issue of 33.33 million new fully paid ordinary shares in the Company ( New Shares ) at an issue price of $0.03 (3 cents) per New Share. The company intends to settle its creditors via the allocation of 833,333 new fully paid ordinary shares at an issue price of $0.03 per share to a total value of $25,000.00.

The New Shares will be issued on or around 18 June 2021 subject to receipt of funds. The issue price of 3 cents per ordinary share represents a discount of 14% to the Company’s 5-day VWAP of 3.5 cents, and a 12% discount to the last traded price of 3.4 cents.

The allotment of up to 34.17 million New Shares will be issued within the Company’s 15% placement capacity under ASX Listing Rule 7.1 and additional 10% placement capacity under ASX Listing Rule 7.1A. The 833,333 shares issued to settled creditors will be issued under ASX Listing Rule 7.1.

The New Shares will rank equally with existing fully paid shares of the Company.

Level 21, 201 Sussex Street, Sydney, NSW, 2000 Ph +02 9275 8878

GPO Box 5360 emperorenergy.com.au Sydney, NSW, 2001 ABN: 56 006 024 764

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As far as the Company is aware, no New Shares were issued or agreed to be issued in The Placement to a related party, substantial holder in the Company or otherwise to any person referred to in Listing Rule 10.11.

This announcement has been authorised for release to the market by the Board of Directors of Emperor Energy Limited.

Yours faithfully

Carl Dumbrell

Company Secretary

Ph +61 402 277 282

carl@emperorenergy.com.au

Level 21, 201 Sussex Street, Sydney, NSW, 2000 Ph +02 9275 8878

GPO Box 5360 Sydney, NSW, 2001

emperorenergy.com.au ABN: 56 006 024 764