FUTURE GENERATION AUSTRALIA LIMITED — Capital/Financing Update 2019

Oct 24, 2019

Rule 2.7, 3.10.3, 3.10.4, 3.10.5

Appendix 3B

New issue announcement, application for quotation of additional securities and agreement

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 01/07/96 Origin: Appendix 5 Amended 01/07/98, 01/09/99, 01/07/00, 30/09/01, 11/03/02, 01/01/03, 24/10/05, 01/08/12, 04/03/13

Name of entity

Future Generation Investment Company Limited

ABN

97 063 935 553

We (the entity) give ASX the following information.

Part 1 - All issues

You must complete the relevant sections (attach sheets if there is not enough space).

1+Class of+securities issued or tobe issued2Number of+securities issued orto be issued (if known) ormaximum number which maybe issued3Principal terms of the+securities(e.g. if options, exercise priceand expiry date; if partly paid+securities,theamountoutstanding and due dates forpayment;if+convertiblesecurities, the conversion priceand dates for conversion)	Fully paid ordinary shares
	942,946 ordinary shares
	Ordinary fully paid shares issued under thetermsandconditionsoftheDividendReinvestment Plan (‘DRP’) will rank pari pasuwith ordinary shares currently on issue.

• See chapter 19 for defined terms.

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4Do the +securities rank equallyin all respects from the +issuedate with an existing +class ofquoted +securities?If the additional +securities donot rank equally, please state: the date from which they do the extent to which theyparticipateforthenextdividend, (in the case of atrust,distribution)orinterest payment the extent to which they donot rank equally, other thaninrelationtothenextdividend,distributionorinterest payment5Issue price or consideration6Purpose of the issue(If issued as consideration forthe acquisition of assets, clearlyidentify those assets)6aIs the entity an +eligible entitythathasobtainedsecurityholder approval under rule 7.1A?If Yes, complete sections 6b – 6hin relation to the +securities thesubject of this Appendix 3B, andcomply with section 6i6bThe date the security holderresolution under rule 7.1A waspassed6cNumber of +securities issuedwithout security holder approvalunder rule 7.16dNumber of +securities issuedwith security holder approvalunder rule 7.1A6eNumber of +securities issuedwith security holder approvalunder rule 7.3, or anotherspecific security holder approval(specify date of meeting)	Yes
	$1.13938 per Share
	Dividend Reinvestment Plan
	No
	N/A
	N/A
	N/A
	N/A

• See chapter 19 for defined terms.

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6f Number of[+] securities issued N/A under an exception in rule 7.2 6g If[+] securities issued under rule N/A 7.1A, was issue price at least 75% of 15 day VWAP as calculated under rule 7.1A.3? Include the +issue date and both values. Include the source of the VWAP calculation. 6h If[+] securities were issued under N/A rule 7.1A for non-cash consideration, state date on which valuation of consideration was released to ASX Market Announcements 6i Calculate the entity’s remaining N/A issue capacity under rule 7.1 and rule 7.1A – complete Annexure 1 and release to ASX Market Announcements 7 +Issue dates 25 October 2019 Note: The issue date may be prescribed by ASX (refer to the definition of issue date in rule 19.12). For example, the issue date for a pro rata entitlement issue must comply with the applicable timetable in Appendix 7A. Cross reference: item 33 of Appendix 3B. Number +Class 8 Number and +class of all 398,238,435 Fully Paid Ordinary +securities quoted on ASX Shares ( including the +securities in section 2 if applicable) Number +Class 9 Number and +class of all Nil N/A +securities not quoted on ASX ( including the +securities in section 2 if applicable) 10 Dividend policy (in the case of a Same as existing fully paid ordinary shares trust, distribution policy) on the increased capital (interests)

• See chapter 19 for defined terms.

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Part 2 - Pro rata issue

art 2 - Pro rata issue
11Issecurityholderapprovalrequired?12Is the issue renounceable or non-renounceable?13Ratio in which the+securitieswill be offered14+Class of+securities to which theoffer relates15+Recorddatetodetermineentitlements16Willholdingsondifferentregisters (or subregisters) beaggregatedforcalculatingentitlements?17Policy for deciding entitlementsin relation to fractions18Names of countries in which theentity has security holders whowill not be sent new offerdocumentsNote: Security holders must be told how theirentitlements are to be dealt with.Cross reference: rule 7.7.19Closingdateforreceiptofacceptances or renunciations20Names of any underwriters21Amount of any underwriting feeor commission22Names of any brokers to theissue23Fee or commission payable to thebroker to the issue	N/A
	N/A
	N/A
	N/A
	N/A
	N/A
	N/A
	N/A
	N/A
	N/A
	N/A
	N/A
	N/A

• See chapter 19 for defined terms.

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	24Amount of any handling feepayable to brokers who lodgeaccetances or renunciations on	24Amount of any handling feepayable to brokers who lodgeaccetances or renunciations on	24Amount of any handling feepayable to brokers who lodgeaccetances or renunciations on	24Amount of any handling feepayable to brokers who lodgeaccetances or renunciations on	24Amount of any handling feepayable to brokers who lodgeaccetances or renunciations on	24Amount of any handling feepayable to brokers who lodgeaccetances or renunciations on	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
	25		pbehalf of security holders
			If the issue issecurity holders’		contingent onapproval, the		N	/A
			date of the meetin		g
	26Date entitlement and acceptanceform and offer documents will besent to persons entitled27If the entity has issued options,
							N/A
							N/A
		and the termsholderstop			entitle optionarticipateon
		exercisnoticesholder		e, the dwill be	ate onsent to o	whichption
	2	8Date r		ights tradi	g will be	in (if
							N/A
	applicable)29Date rights trading will end (ifapplicable)30How do security holders selltheir entitlements_in full_througha broker?31How do security holders sell_part_of their entitlements through abrokerandacceptforthebalance?32How do security holders disposeof their entitlements (except bysale through a broker)?33+Issue date
							N/A
							N/A
							N/A
							N/A
							N/A

Part 3 - Quotation of securities

You need only complete this section if you are applying for quotation of securities

34 Type of[+] securities ( tick one )

• See chapter 19 for defined terms.

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(a) +Securities described in Part 1

(b)[All other ][+][securities ]

Example: restricted securities at the end of the escrowed period, partly paid securities that become fully paid, employee incentive share securities when restriction ends, securities issued on expiry or conversion of convertible securities

Entities that have ticked box 34(a)

Additional securities forming a new class of securities

Tick to indicate you are providing the information or documents

35 If the[+] securities are[+] equity securities, the names of the 20 largest holders of the additional[+] securities, and the number and percentage of additional[+] securities held by those holders

36 If the[+] securities are[+] equity securities, a distribution schedule of the additional +securities setting out the number of holders in the categories 1 - 1,000 1,001 - 5,000 5,001 - 10,000 10,001 - 100,000 100,001 and over

37 A copy of any trust deed for the additional[+] securities

Entities that have ticked box 34(b)

38 Number of[+] securities for which N/A +quotation is sought

39 +Class of +securities for which N/A quotation is sought

• See chapter 19 for defined terms.

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40 Do the[+] securities rank equally in N/A all respects from the[+] issue date with an existing[+] class of quoted +securities?

If the additional[+] securities do not rank equally, please state:

• the date from which they do

• the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment

• the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment

• 41 Reason for request for quotation now

N/A

Example: In the case of restricted securities, end of restriction period

(if issued upon conversion of another[+] security, clearly identify that other[+] security)

Number +Class 42 Number and +class of all N/A +securities quoted on ASX ( including the[+] securities in clause 38)

Quotation agreement

• 1 +Quotation of our additional +securities is in ASX’s absolute discretion. ASX may quote the[+] securities on any conditions it decides.

• 2 We warrant the following to ASX.

  • The issue of the[+] securities to be quoted complies with the law and is not for an illegal purpose.

  • There is no reason why those[+] securities should not be granted +quotation.

• See chapter 19 for defined terms.

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• An offer of the[+] securities for sale within 12 months after their issue will not require disclosure under section 707(3) or section 1012C(6) of the Corporations Act.

Note: An entity may need to obtain appropriate warranties from subscribers for the securities in order to be able to give this warranty

• Section 724 or section 1016E of the Corporations Act does not apply to any applications received by us in relation to any[+] securities to be quoted and that no-one has any right to return any[+] securities to be quoted under sections 737, 738 or 1016F of the Corporations Act at the time that we request that the[+] securities be quoted.

• If we are a trust, we warrant that no person has the right to return the +securities to be quoted under section 1019B of the Corporations Act at the time that we request that the[+] securities be quoted.

• 3 We will indemnify ASX to the fullest extent permitted by law in respect of any claim, action or expense arising from or connected with any breach of the warranties in this agreement.

• 4 We give ASX the information and documents required by this form. If any information or document is not available now, we will give it to ASX before +quotation of the +securities begins. We acknowledge that ASX is relying on the information and documents. We warrant that they are (will be) true and complete.

Sign here:

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Director

Print name: Geoffrey James Wilson Date: 25 October 2019

== == == == ==

• See chapter 19 for defined terms.

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