FAR LIMITED — Capital/Financing Update 2019

Dec 15, 2019

16 December 2019

Share Purchase Plan - Cleansing Notice

Cleansing Notice under section 708A(5)(e) of the Corporations Act 2001 (Cth)

FAR Limited (ASX: FAR) has today opened a Share Purchase Plan (SPP) to existing shareholders to raise up to A$30m at $0.0425 per share. The SPP was announced on Thursday, 12 December 2019 together with a conditional placement to institutional and sophisticated investors to raise A$146 million at the same price as the SPP.

The proceeds from the Placement and SPP form part of the planned financing package to fund FAR’s capex to first oil for the Sangomar Oil Field development, offshore Senegal, working capital and transaction costs.

FAR hereby gives notice under section 708A(5)(e) of the Corporations Act 2001 (Cth) (Corporations Act) to the ASX as follows:

1. The shares will be issued by FAR without disclosure being given to investors under Part 6D.2 of the Corporations Act and without a prospectus for the Shares being issued.

2. As a disclosing entity, FAR is subject to regular reporting and disclosure obligations.

3. As at the date of this notice, FAR has complied with:

   • a. the provisions of Chapter 2M of the Corporations Act as they apply to FAR; and

   • b. section 674 of the Corporations Act, as it applies to FAR.

4. As at the date of this notice, there is no “excluded information” as defined in sections 708A(7) and 708A(8) of the Corporations Act in relation to the Company.

This ASX announcement was approved and authorised for release by FAR’s Disclosure Committee.

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