HYTERRA LTD — Capital/Financing Update 2024

May 5, 2024

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----- Start of picture text ----- HyTerra Limited Phone +61 8 6478 7730Suite 6, 331-335 Hay Street info@hyterra.comSubiaco Western Australia 6008 ACN 116 829 675ASX: HYT hyterra.com----- End of picture text -----

6 May 2024

ASX RELEASE

Completion of Entitlement Offer and Notification of Shortfall

Highlights

• Fully Underwritten Entitlement Offer closed.

• Applications for 108,063,723 New Shares received.

• Funds raised will primarily be applied to executing a multi-well exploration drilling program along the Nemaha Ridge, Kansas, USA, and pursuing growth activities.

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HyTerra Ltd (ASX: HYT) ( HyTerra or the Company ) is pleased to announce the results of its fully underwritten pro-rata non-renounceable rights issue ( Offer ) as announced to ASX on 28 March 2024 and closed on 29 April 2024.

The Offer was made to eligible shareholders registered on 12 April 2024 ( Record Date) , to subscribe for four (4) shares ( New Shares ) for every nine (9) existing shares held by eligible shareholders at an issue price of $0.018 each to raise up to approximately $5.24 million before costs ( Rights Issue ).

The Offer was fully underwritten by RM Corporate Finance Pty Ltd (ACN 108 084 386) ( Underwriter ) in accordance with the underwriting agreement between the Company and the Underwriter ( Underwriting Agreement ).

The Offer closed at 5:00pm AWST on Monday, 29 April 2024. The Company has received valid applications for 108,063,723 New Shares, raising a total of $1,945,148.06 (before costs) under the Offer. A total of 183,182,524 New shares are available under the shortfall ( Shortfall Securities ). The Directors and Underwriter reserve the right to issue Shortfall Securities at their discretion, subject to any restrictions imposed by the Corporations Act and the Listing Rules.

The New Shares applied for by eligible shareholders under the Offer will be issued on 6 May 2024 in accordance with the timetable announced to ASX on 28 March 2024.

The Company has notified the Underwriter of the shortfall. The Company will liaise with the Underwriter to determine the allocation of the remaining Shortfall Securities in accordance with the terms of the Underwriting Agreement (and sub-underwriting agreements) and complete the allotment of the Shortfall Securities.

The Board would like to express their appreciation to participating shareholders for their ongoing support to the Company.

This announcement has been authorised for release by the Board of Directors.

Benjamin Mee Avon McIntrye Executive Director Executive Director + CTO ben@hyterra.com avon@hyterra.com

HYTERRA. A WORLD OF OPPORTUNITY.

Exploring for natural hydrogen and helium resources near major industrial hubs

White hydrogen's potential as a low-carbon feedstock or fuel has spurred millions in new investment and created a world rich with opportunities for first movers.

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HyTerra was the first company to list on the ASX with a focus on white hydrogen, which is generated naturally by the Earth. White hydrogen potentially has much lower production costs and carbon emissions than man-made hydrogen.

Our Nemaha Project in Kansas, USA holds 100% owned and operated leases across the emerging Nemaha High natural hydrogen and helium play fairway. Our Geneva Project in Nebraska, USA is a 16% earn-in interest in a Joint Development with Natural Hydrogen Energy LLC targeting natural hydrogen and helium.

Both projects could be connected via railways, roads, and/or pipelines to multiple nearby offtakers, including ethanol and ammonia manufacturers, and petrochemical plants.

For more information please see: www.hyterra.com

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