KINETIKO ENERGY LTD — Capital/Financing Update 2021

Jul 11, 2021

ASX Announcement 12 July 2021

PLACEMENT CLEANSING NOTICE

NOTICE UNDER SECTION 708A(5)(e) OF THE CORPORATIONS ACT 2001 (CTH)

This notice is given by Kinetiko Energy Limited (ASX:KKO) (" Kinetiko " or “ Company ”) under section 708A(5)(e) of the Corporations Act 2001 (Cth) (“ Corporations Act ”) (as modified by ASIC Instrument 2016/84).

The Company today issued 28,480,000 new fully paid ordinary shares (“ New Shares ”) at an issue price of $0.10 per New Share to professional and sophisticated investors in relation to the nonrenounceable, pro rata entitlement offer, as announced on 2 July 2021 (“ Placement ”). 708 Capital as underwriter to the Entitlement Offer, has allocated professional and sophisticated investors to receive the New Shares, which represent the shortfall shares not taken up by Eligible Participants of the Entitlement Offer.

The Corporations Act restricts the on-sale of securities issued without disclosure, unless the sale is exempt under section 708 or 708A. By the Company giving this notice, sale of the shares under the Placement will fall within the exemption in section 708A(5)(e) of the Corporations Act. As such, the Company confirms that the Placement is being made without a disclosure document.

Pursuant to section 708A(5)(e) of the Corporations Act, the Company provides the following information:

1. the New Shares are being issued without disclosure to investors under part 6D.2 of the Corporations Act;

2. this notice is being given under section 708A(5)(e) of the Corporations Act;

3. as at the date of this notice, the Company has complied with:

   • (a) the provisions of chapter 2M of the Corporations Act as they apply to the Company; and

   • (b) section 674 of the Corporations Act; and

4. as at the date of this notice, there is no information that is ‘excluded information’ (within the meaning of sections 708A(7) and 708A(8) of the Corporations Act) to be disclosed under section 708A(6)(e) of the Corporations Act.

1

Level 1

ASX Announcement 12 July 2021

==> picture [101 x 64] intentionally omitted <==

For more information visit: www.kinetiko.com.au or contact,

Adam Sierakowski Executive Chairman 08 6211 5099 info@kinetiko.com.au

or

Evy Litopoulos Investor Relations ResolveIR evy@resoloveir.com

About Kinetiko Energy and Afro Energy

ASX: KKO | kinetikoenergy.com.au

2