PENTANET LIMITED — Capital/Financing Update 2021

Jan 26, 2021

ASX ANNOUNCEMENT

PRE-QUOTATION DISCLOSURE

Pentanet Limited (ACN 617 506 279) ( Company ) provides the following confirmations to satisfy the conditions for admission of the Company to the Official List of ASX.

Capitalised terms used in this announcement not otherwise defined have the meaning given in the Company's prospectus dated 11 December 2020 ( Prospectus ).

Restricted securities

The Company confirms the following securities will be subject to restriction pursuant to the ASX Listing Rules for the periods outlined below:

Class	Number	Restriction Period
Fully paid ordinary shares	75,770,702	24 months from the date of
		officialquotation
Unquoted Options exercisable at $0.13	3,850,000	24 months from the date of
each on or before30 June 2021		officialquotation
Unquoted Options exercisable at $0.13	1,000,000	24 months from the date of
each on or before 28 February2022		officialquotation
Unquoted Options exercisable at $0.30	7,900,000	24 months from the date of
each on or before30 June 2024		officialquotation
Unquoted Options exercisable at $0.37	7,900,000	24 months from the date of
each on or before30 June 2024		officialquotation
Unquoted Options exercisable at $0.50	7,900,000	24 months from the date of
each on or before30 June 2024		officialquotation
Fully paid ordinary shares	12,043,571	12 months from the date of
		issue(until 11 December 2021)

By order of the Board

Patrick Holywell Company Secretary Pentanet Limited

This announcement was authorised for release by the Board of Pentanet Limited.

For further information, please contact:

Mr. Stephen Cornish Managing Director +61 8 9466 2672 investors@pentanet.com.au

Mr. Patrick Holywell Mr. Shane Murphy Company Secretary Media Relations, FTI Consulting +61 (0) 410 407 357 +61 8 9321 8533 patrick.holywell@pentanet.com.au shane.murply@fticonsulting.com.au

A Unit 2, 8 Corbusier Place Balcatta WA 6021

E investors@pentanet.com.au W pentanet.com.au P +61 8 9466 2670 ABN 29 617 506 279