PILOT ENERGY LIMITED — Capital/Financing Update 2021

Aug 19, 2021

Announcement Summary

Entity name

PILOT ENERGY LIMITED

Announcement Type

New announcement

Date of this announcement

Friday August 20, 2021

The +securities to be quoted are:

+Securities issued, transferred or re-classified as a result of options being exercised or other +convertible securities being converted

Total number of +securities to be quoted

ASX +securitycode	Security description	Number of +securities tobe quoted	Issue date
PGY	ORDINARY FULLY PAID	15,151	20/08/2021

Refer to next page for full details of the announcement

Part 1 - Entity and announcement details

1.1 Name of entity

PILOT ENERGY LIMITED

We (the entity named above) apply for +quotation of the following +securities and agree to the matters set out in Appendix 2A of the ASX Listing Rules.

1.2 Registered number type ABN

Registration number 86115229984

1.3 ASX issuer code PGY

1.4 The announcement is

New announcement

1.5 Date of this announcement

20/8/2021

Part 2 - Type of Issue

2.1 The +securities to be quoted are:

+Securities issued, transferred or re-classified as a result of options being exercised or other +convertible securities being converted

2.2 The +securities to be quoted are:

Additional +securities in a class that is already quoted on ASX ("existing class")

Part 3B - number and type of +securities to be quoted (existing class) where issue has not previously been notified to ASX in an

Appendix 3B

Existing +securities converting into additional +securities in an existing class
FROM (Existing Class)ASX +security code and description
PGYAB : OPTION EXPIRING 18-DEC-2022 EX $0.033
TO (Existing Class)ASX +security code and description
PGY : ORDINARY FULLY PAID
Please state the number of optionsthat were exercised or other+convertible securities that were	The first date the options wereexercised or other +convertiblesecurities were converted	The last date the options wereexercised or other +convertiblesecurities were converted
converted15,151	20/8/2021	20/8/2021

Is this all of the options or other +convertible securities on issue of that type (ie have all of those options now been exercised or have all of those convertible securities now been converted)? No

The right of the holder of the options or other +convertible securities to receive the +underlying securities is being satisfied by:

An issue of new +securities

The underlying securities being received by the holder are: Intended to be, but are not yet, quoted by ASX

Were the options being exercised or other +convertible securities being converted issued under an +employee incentive scheme? No

Issue date

20/8/2021

Will the +securities to be quoted rank equally in all respects from their issue date with the existing issued +securities in that class? Yes

Issue details

Number of +securities to be quoted15,151
Are the +securities being issued for a cash consideration?Yes
In what currency is the cash consideration being paid?	What is the issue price per +security?
AUD - Australian Dollar	AUD 0.03300000
Any other information the entity wishes to provide about the +securities to be quoted

covered by cleansing prospectus issued on 9 August 2021 to ASX

Part 4 - Issued capital following quotation

Following the quotation of the +securities the subject of this application, the issued capital of the entity will

comprise: (A discrepancy in these figures compared to your own may be due to a matter of timing if there is more than one application for quotation/issuance currently with ASX for processing.)

4.1 Quoted +securities (total number of each +class of +securities quoted on ASX following the +quotation of the +securities subject of this application)

ASX +security code and description	Total number of+securities on issue
PGY : ORDINARY FULLY PAID	499,249,421

4.2 Unquoted +securities (total number of each +class of +securities issued but not quoted on ASX)

ASX +security code and description	Total number of+securities on issue
PGYAB : OPTION EXPIRING 18-DEC-2022 EX $0.033	7,560,606
PGYAC : OPTION EXPIRING 13-JAN-2023 EX $0.066	10,000,000
PGYAD : OPTION EXPIRING 04-NOV-2025 EX $0.07	10,000,000
PGYAE : OPTION EXPIRING 18-DEC-2022 EX $0.066	37,878,769