ENEGEX LIMITED — Capital/Financing Update 2020

Oct 1, 2020

Proposed issue of securities

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Announcement Summary

Entity name

ENEGEX LIMITED

Announcement Type

New announcement

Date of this announcement

Friday October 2, 2020

The Proposed issue is:

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A placement or other type of issue

Total number of +securities proposed to be issued for a placement or other type of issue

		Maximum Number of
ASX +security code	+Security description	+securities to be issued
ENXAB	OPTION EXPIRING 31-AUG-2022 EX $0.03	16,000,000

Proposed +issue date Friday November 6, 2020

Refer to next page for full details of the announcement

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Proposed issue of securities

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Part 1 - Entity and announcement details

1.1 Name of +Entity

ENEGEX LIMITED

We (the entity named above) give ASX the following information about a proposed issue of +securities and, if ASX agrees to +quote any of the +securities (including any rights) on a +deferred settlement basis, we agree to the matters set out in Appendix 3B of the ASX Listing Rules.

1.2 Registered Number Type

ABN

Registration Number

28160818986

1.3 ASX issuer code

ENX

1.4 The announcement is

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New announcement

1.5 Date of this announcement

Friday October 2, 2020

1.6 The Proposed issue is:

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A placement or other type of issue

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Part 7 - Details of proposed placement or other issue

Part 7A - Conditions

7A.1 - Are any of the following approvals required for the placement or other type of issue? +Security holder approval Court approval Lodgement of court order with +ASIC ACCC approval FIRB approval Another approval/condition external to the entity Yes

7A.1a Conditions

Approval/Condition Date for determination Is the date estimated or ** Approval actual? received/condition met? +Security holder approval Thursday November 5, Actual 2020

Comments

The Company is seeking Shareholder approval for issues of unlisted options to Placement Shareholders, Directors, an executive and a consultant as outlined in a Notice of General Meeting lodged with ASX on 2 October 2020.

Part 7B - Issue details

Is the proposed security a 'New Will the proposed issue of this class' (+securities in a class that is +security include an offer of not yet quoted or recorded by ASX) attaching +securities? or an 'Existing class' (additional No securities in a class that is already quoted or recorded by ASX)? Existing class

Details of +securities proposed to be issued

ASX +security code and description

ENXAB : OPTION EXPIRING 31-AUG-2022 EX $0.03

Number of +securities proposed to be issued

16,000,000

Offer price details

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Are the +securities proposed to be issued being issued for a cash consideration? No

Please describe the consideration being provided for the +securities Nil

Please provide an estimate of the AUD equivalent of the consideration being provided for the +securities 0.000001

Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class? Yes

Part 7C - Timetable

7C.1 Proposed +issue date Friday November 6, 2020

Part 7D - Listing Rule requirements

7D.1 Has the entity obtained, or is it obtaining, +security holder approval for the entire issue under listing rule 7.1? Yes 7D.1a Date of meeting or proposed meeting to approve the issue under listing rule 7.1 Thursday November 5, 2020

7D.2 Is a party referred to in listing rule 10.11 participating in the proposed issue? Yes 7D.3 Will any of the +securities to be issued be +restricted securities for the purposes of the listing rules? No

7D.4 Will any of the +securities to be issued be subject to +voluntary escrow? No

Part 7E - Fees and expenses

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7E.1 Will there be a lead manager or broker to the proposed issue? No

7E.2 Is the proposed issue to be underwritten? No

7E.4 Details of any other material fees or costs to be incurred by the entity in connection with the proposed issue

Part 7F - Further Information

7F.01 The purpose(s) for which the entity is issuing the securities

To issue options to placement shareholders per ASX announcement 18/8/20 and to provide cost effective consideration to Directors, an executive and a consultant for their ongoing commitment and contribution to the Company in their respective roles.

7F.1 Will the entity be changing its dividend/distribution policy if the proposed issue proceeds? No

7F.2 Any other information the entity wishes to provide about the proposed issue

The issue price of the options for 10,000,000 options to be issued to placement shareholders per ASX announcement 18/8/ 20 is 3 cents. The actual exercise price of the other 6,000,000 options is unknown as the exercise price will be based on the price that is 50% greater than 5 day VWAP of the Shares prior to the day that Shareholder approval is obtained. The assumptions for the estimate provided in this Appendix 3B are outlined in the Notice of Annual General Meeting lodged with ASX on 2 October 2020.

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