ENEGEX LIMITED — Share Issue/Capital Change 2022

Jul 21, 2022

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22 July 2022

Dear Option Holder

NOTIFICATION OF EXPIRY OF OPTIONS

At the date of this notice, you are a registered holder of listed options (the Options, ASX code: ENXOA) in Enegex Limited (the Company, ASX code: ENX).

You are encouraged to read this letter carefully and in full and if you are unsure about what to do with your Options then you should seek advice from your accountant, stockbroker, lawyer, licensed financial adviser or other professional adviser.

This letter notifies you of the impending expiry of the Options on Wednesday, 31 August 2022. It also sets out your alternative courses of action prior to expiry and provides information about recent prices of the ENX shares and the Options.

Your choices as an Option holder are:

• Do nothing and allow your Options to lapse

If you do not take any action to exercise your Options prior to 5:00pm (Melbourne time) on Wednesday, 31 August 2022, the Options will expire and your right to purchase shares at $0.03 (3 cents) will lapse.

• Exercise all or some of your Options

To exercise your Options, the enclosed Notice of Options Exercise Form and your cleared funds must be received by the Company’s share registry no later than 5:00pm (Melbourne time) on Wednesday, 31 August 2022. Note that exercising your options does not incur any brokerage costs.

• Sell all or some of your Options on market

If you elect not to exercise your Options, you may wish to consider selling your Options on the ASX. Your Options are currently trading on the ASX under the ASX code: ENXOA lasted traded on 4 March 2022. ENXOA price on that day was $0.052 (5.2 cents). ENX price on that day was $0.07 (7 cents). When considering whether to sell your Options on market, you should bear in mind any brokerage charges that you may incur. The Options will cease trading on the ASX on 25 August 2022.

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In accordance with ASX Listing Rules, the Company advises the following:

(a) Attached is your Notice of Options Exercise Form.

(b) Each Option entitles the holder to receive, on exercise, one fully paid ordinary share in the Company. If all Options are exercised, by all holders of the Options, then 6,292,055 fully paid ordinary shares will be issued.

(c) The exercise price of the Options is $0.03 (3 cents) per share. If cleared funds are not received by 5:00pm (Melbourne time) on Wednesday, 31 August 2022, then your Options will expire with no value and no further entitlement will exist.

(d) Official quotation of ENXOA Options on the ASX will cease at the close of trading on 25 25 August 2022.

(e) There is no underwriting agreement in place for the exercise of the Options.

(f) The latest available market price of ENX shares prior to the date of this notice was $0.027 (3.3 cents) at the close of trading on 19 July 2022.

(g) The highest and lowest market prices of ENX shares traded in the three months immediately before the date of this notice were:

Highest: $0.062 per share on 29 April 2022 Lowest: $0.027 per share on 19 July 2022.

Summary of key dates for Option holders are:

Last day of trading/quotation of ENXOA Options: 25 August 2022

Final date for exercise and payment of Options: 5:00pm (Melbourne time) 31 August 2022

Final date for allotment of new ENX shares: Within 15 business days of expiry date

Further information: If you have any queries about completing the form, please email admin@enegex.com

Yours faithfully

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Rob Wright Company Secretary

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All Registry Communication to:

Enegex Limited| 28 160 818 986

GPO Box 5193, Sydney NSW 2001 1300 288 664 (within Australia) +61 2 9698 5414 (international)

Full name[s] and address of Registered Holding

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SRN/HIN: Security Code: ENXOA Number of Options Held: Option Expiry Date: 31/08/22 Exercise Price:$0.03

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NOTICE OF EXERCISE OF OPTIONS

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BY MAIL BY EMAIL

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