HELIOS ENERGY LTD — Capital/Financing Update 2021

Feb 23, 2021

Helios Energy Ltd

24 February 2021

$11.44M Capital Raising

ASX Code: HE8

Share Placement

Directors

Helios Energy Ltd (ASX Codes: HE8, HE8OA) ( Helios or Company ) is pleased to advise that it has conducted a capital raising of $11,440,000 by the issue of 95,333,333 shares at a price of 12 cents per share ( Placement ). The Placement was made to sophisticated and professional investors under the provisions of section 708 of the Corporations Act 2001 (Cth).

Settlement of the Placement

Settlement of the Placement will be completed by Wednesday 3 March 2021. The Placement was conducted within the 15% placement capacity available to the Company in accordance with ASX Listing Rule 7.1.

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

Use of Placement Proceeds

Australian Office

The funds raised from the Placement will be used for working capital purposes and to purchase additional oil and gas leases in the Presidio Oil Project located in Presidio County, Texas, USA.

For further information, please contact:

Richard He Managing Director

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