HELIOS ENERGY LTD — Capital/Financing Update 2021

Mar 18, 2021

Helios Energy Ltd

18 March 2021

Company Announcements Office ASX Limited

ASX Code: HE8

Helios Energy Limited (HE8) – Application to Court and Previous Cleansing Notices

Further to its announcements dated 16 March 2021 and 18 March 2021, Helios Energy Limited (ASX: HE8) ( Helios or Company ) advises that:

• it intends to apply to the Court seeking orders primarily in relation to the Company’s inadvertent failure to lodge a cleansing notice pursuant to section 708A(5)(e) of the Corporations Act within the prescribed 5 day period after the issue of 95,333,357 shares in the Company on 4 March 2021; and

• in the interests of good governance the Company has reviewed its announcements back to September 2017 and has identified two previous instances of share issues which require clarification, being:

  • an issue of 173,941 shares on 28 August 2019, the cleansing notice for which is attached, and in respect of which the Company intends to seek specific Court orders; and

  • an issue of 400,000 shares on 3 November 2020, in respect of which a cleansing notice was issued on 5 November 2020 which incorrectly stated that the issue date for these shares was “27 October 2020”.

Approved for release by the Board of Directors. If you have any further queries, do not hesitate to contact me.

Yours faithfully

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Directors

Hui Ye Non-Executive Chairman Richard He Managing Director

Robert Bearden Non-Executive Director

Nicholas Ong Non-Executive Director John Palermo Company Secretary

Contact Details

Australian Office

Level 3, 18 Richardson Street West Perth WA 6005 Australia

PO Box 1485 West Perth WA Australia 6872 Tel +61 1300 291 195 Fax +61 8 6298 6191

USA Office

2 Riverway, 17[th] Floor Suite 1710, Houston Texas USA 77056 Tel +1 713 333 3613 Fax +1 713 583 0965

www.heliosenergyltd.com

John J Palermo Company Secretary

Helios Energy Ltd

Date: 18 March 2021

18 March 2021

ASX Code: HE8

Market Announcements Office Australian Securities Exchange Level 4, 20 Bridge Street SYDNEY NSW 2000

CONVERSION OF LISTED OPTIONS

The Company has completed the conversion of 173,941 listed options into ordinary shares.

SECTION 708A (5)(e) NOTICE Issuer: Helios Energy Limited ABN: 61 143 932 110

The Issuer named above notifies ASX (as the operator of the prescribed financial market on which the securities identified below are or are to be quoted) under section 708A(5)(e) that:

• (a) the securities identified below were issued without disclosure under Part 6D.2 of the Corporations Act;

• (b) as at the date of this notice the Issuer has complied with the provisions of Chapter 2M as they apply to the Issuer and with section 674 of the Corporations Act; and

• (c) as at the date of this notice there is no information which is excluded information as contained in sections 708A(7) and 708A(8) of the Corporations Act.

DETAILS OF THE ISSUE OF SECURITIES	DETAILS OF THE ISSUE OF SECURITIES
Class of Securities:	Ordinary Shares
ASX Code of the Securities:	HE8
Date of the issue of Securities:	28 August 2019
Total number of Securities issued:	173,941 OrdinaryShares

Directors

Hui Ye Non-Executive Chairman Richard He Managing Director Robert Bearden Non-Executive Director

Nicholas Ong Non-Executive Director John Palermo Company Secretary

Contact Details

Australian Office

Level 3, 18 Richardson Street West Perth WA 6005 Australia PO Box 1485 West Perth WA Australia 6872 Tel +61 1300 291 195 Fax +61 8 6298 6191

USA Office

2 Riverway, 17[th] Floor Suite 1710, Houston Texas USA 77056 Tel +1 713 333 3613 Fax +1 713 583 0965

www.heliosenergyltd.com

Yours sincerely John Palermo Company Secretary