PILOT ENERGY LIMITED — Capital/Financing Update 2021

Aug 19, 2021

Application for quotation of +securities

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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:

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Other

Total number of +securities to be quoted

ASX +security		Number of +securities to
code	Security description	be quoted	Issue date
PGY	ORDINARY FULLY PAID	1,562,876	20/08/2021

Refer to next page for full details of the announcement

Application for quotation of +securities

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Application for quotation of +securities

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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

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New announcement

1.5 Date of this announcement

20/8/2021

Application for quotation of +securities

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Application for quotation of +securities

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Part 2 - Type of Issue

2.1 The +securities to be quoted are:

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Other

2.2 The +securities to be quoted are:

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

2.3c Have these +securities been offered under a +disclosure document or +PDS?

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Yes

2.3c.1 Date of +disclosure document or +PDS?

20/8/2021

2.3d Please provide any further information needed to understand the circumstances in which you are applying to have these +securities quoted on ASX, including why the issue of the +securities has not been previously announced to the market in an Appendix 3B

The issue of shares was annouced in the cleansing prospectus filed with the ASX on 9 August 2021. Due to administrative oversight the Appendix 3B was not issued.

Application for quotation of +securities

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Application for quotation of +securities

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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

Additional +securities to be quoted in an existing class

ASX +security code and description

PGY : ORDINARY FULLY PAID

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 quoted

1,562,876

Are the +securities being issued for a cash consideration?

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Yes

In what currency is the cash consideration being paid? What is the issue price per +security?

AUD - Australian Dollar AUD 0.06400000

Any other information the entity wishes to provide about the +securities to be quoted

As previously advised on 9 April 2021, as a result of the regulator's decision to not approve Black Swan's acqusition of WA-503-P from the Company and subsequent cancellation, the Company and Black Swan agreed to a settlement consideration of $100,000 worth of shares to be issued based on the 5-day VWAP.

The purpose(s) for which the entity is issuing the securities

To fund the retirement of debt

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Application for quotation of +securities

Part 4 - Issued capital following quotation

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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)

	Total number of
ASX +security code and description	+securities on issue
PGY : ORDINARY FULLY PAID	500,797,146
4.2 Unquoted +securities (total number of each +class of +securities issued but not quoted on ASX)
	Total number of
ASX +security code and description	+securities on issue
PGYAB : OPTION EXPIRING 18-DEC-2022 EX $0.033	7,575,757
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

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

Application for quotation of +securities

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Application for quotation of +securities

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Part 5 - Other Listing Rule requirements

5.1 Are the +securities being issued under an exception in Listing Rule 7.2 and therefore the issue does not need any security holder approval under Listing Rule 7.1? No

5.2 Has the entity obtained, or is it obtaining, +security holder approval for the issue under listing rule 7.1? No

5.2b Are any of the +securities being issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1? No

5.2c Are any of the +securities being issued without +security holder approval using the entity's additional 10% placement capacity under listing rule 7.1A (if applicable)? No

Application for quotation of +securities

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