MURRAY COD AUSTRALIA LIMITED — Capital/Financing Update 2021

Nov 17, 2021

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18 November 2021

Company Announcements Office ASX Limited

By E-Lodgement

Shares issued under Institutional Placement

Notice under section 708A(5)(e) of the Corporations Act 2001

This notice is given by Murray Cod Australia Ltd (ABN 74 143 928 625) ( Issuer ) under section 708A(5)(e) of the Corporations Act 2001 (Cth) ( Corporations Act ).

The Issuer today issued 89,552,239 fully paid ordinary shares ( Shares ) at an issue price of A$0.335 per Share to sophisticated and professional investors under the institutional placement announced by the Issuer on 12 November 2021.

The Issuer advises that:

• (a) the Shares the subject of this notice were issued without disclosure to investors under Part 6D.2 of the Corporations Act;

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

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

• (d) as at the date of this notice, there is no information that is "excluded information" within the meanings of sections 708A(7) and 708A(8) of the Corporations Act.

This notice has been authorised for release to ASX by the Issuer's Board of Directors.

Yours sincerely

Murray Cod Australia Ltd

P: +61 2 6962 5470