HARTSHEAD RESOURCES NL — Capital/Financing Update 2016

Feb 21, 2016

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22 February 2016

Dear Partly Paid Shareholder

Pura Vida Energy NL - Pro-rata Non-renounceable Entitlement Issue

As announced today, Pura Vida Energy NL (ABN 11 150 624 169) ( Pura Vida or the Company ) is undertaking a pro-rata non-renounceable entitlement issue of one (1) New Share for every three (3) existing Shares held resulting in the issuing of approximately 63,251,274 fully paid ordinary shares ( New Shares ) in order to raise approximately $1.7 million (before costs and fees) ( Offer ). The price of New Shares under the Offer is $0.027 each. The Company lodged the Offer Document with ASX today.

The Offer is being made to all shareholders of the Company recorded on its register of members at 5.00 pm (AWST) on Monday, 29 February 2016 ( Record Date ), whose registered address is in Australia, New Zealand and the United Kingdom ( Eligible Shareholders ).

The terms and conditions of the partly paid shares you currently hold entitle you to participate in the Offer pro-rata to the proportion of the total issue price paid ($0.01). You may have an additional entitlement should some or all of your partly paid shares be paid in full ($0.19) in time for these shares to be allotted and to be entered on the Company’s register prior to Record Date.

To pay up your partly paid shares and thereby participate with an additional entitlement under the Offer, you will need to deliver your payment notice together with your payment for the partly paid shares to the Company by no later than 5.00 pm (AWST) on Thursday, 25 February 2016. If received after this date, allotment of the shares prior to the Record Date cannot be assured.

Before deciding whether to pay up some or all of your partly paid shares in full, you should consider the terms of the Offer and if necessary consult with your professional adviser.

If you do not wish to participate with an additional entitlement under the Offer in respect of your partly paid shares, you do not need to take any action.

If you have any queries concerning the Offer, please do not hesitate to contact me on +61 8 9226 2011.

Yours sincerely

DENNAE LONT COMPANY SECRETARY