ENEGEX LIMITED — Capital/Financing Update 2020

Aug 17, 2020

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ASX RELEASE

18 August 2020

Exploration Program Funding

• Placement of 20M ordinary fully paid shares at $0.022 (2.2 cents) per share with attached 1 for 2 unlisted options has raised $440,000 (before costs)

• Placement resulted from approach to Company by a group of Sophisticated and Professional investors, settled by Fresh Equities

• Pro-rata shareholder entitlement offer, on the same terms, to be undertaken to raise up to $760,000

• Proceeds to be used to fund the Company’s exploration programs

Enegex Limited (ASX:ENX) is pleased to announce that a placement of 20M fully paid ordinary shares has raised $440,000 at $0.022 (2.2 cents) per share, before costs, with unlisted options to be issued on a 1 for 2 basis, exercisable at $0.03 on or before 31 August 2022. The Company was approached by a group of Sophisticated and Professional investors with an offer of investment which has been accepted, and settled through Fresh Equities Pty Ltd.

The funds raised will be used to advance exploration at the Company’s projects, particularly its South West Terrane initiative where the Company has established an extensive tenement position in this emerging region.

The Company intends to raise a further ~$760,000 via a pro-rata shareholder entitlement offer in the coming weeks. This will be on the same terms as the placement, and eligible shareholders, including the placement participants, will be able to subscribe for their pro-rata entitlement shares.

Enegex Chairman, Geoff Albers, commented “ Our placement was strongly supported. The funds will be used to advance our knowledge of the Company’s various South West Terrane tenements. It will be an exciting period ahead for Enegex as we initiate our planned programs to unlock the geology of our tenements in the South West Terrane. Enegex welcomes new shareholders and thanks new and existing shareholders for their support. We look forward to delivering on our exploration programs.”

Capital Structure Post Placement

Quoted Securities

Fully Paid Ordinary Shares 100,499,737

Unquoted Securities

Options over fully paid ordinary shares exercisable at $0.03 expiring 31/08/2022 10,000,000 ( subject to shareholder approval )

Enquiries

Rae Clark, Director | 03 8610 4700

Enegex Limited ABN 28 160 818 986 t +61 3 8610 4713 e admin@Enegex.com w www.Enegex.com