PILOT ENERGY LIMITED — Director's Dealing 2023

Feb 16, 2023

Pilot Energy Limited

Suite 301, 35 Spring Street Bondi Junction NSW 2022 T: 1300 737 760 E: info@pilotenergy.com.au www.pilotenergy.com.au

==> picture [214 x 87] intentionally omitted <==

Announcement to ASX

17 February 2023

APPENDIX 3Y – B GORDON - CORRECTION

Pilot Energy Limited ( ASX: PGY ) (“ Pilot ” or the “ Company ”) refers to the Appendix 3Y for Mr Bruce Gordon lodged with the ASX on 16 February 2022.

The Company has identified that the number of securities held prior to the change of director’s interest was overstated in the Appendix 3Y. Further the Appendix 3Y recorded the incorrect date of last notice.

The attached Appendix 3Y now correctly reflects the following:

• The total number of PGY shares held indirectly by Mr Gordon via PAD Pty Ltd ATF The Gordon Super Fund prior to acquiring shares under the Company’s November 2022 placement is 4,850,000.

• The correct date of last notice is 19 August 2022, being the date of lodgement of the last Appendix 3Y for Mr Gordon.

This announcement has been authorised for release to ASX by the Managing Director of Pilot, Tony Strasser.

Enquiries

Cate Friedlander, Company Secretary, email: cfriedlander@pilotenergy.com.au

About Pilot Energy : Pilot is currently a junior oil and gas exploration and production company that is aggressively pursuing the diversification and transition to the development of integrated renewable energy, hydrogen and carbon management projects by leveraging its existing oil and gas tenements and infrastructure to cornerstone these developments. Pilot holds a 21.25% interest in the Cliff Head Oil field, material working interests in WA-481-P and EP416/480 exploration permits, located offshore and onshore Western Australia, which form foundation assets for the potential development of clean energy projects in Western Australia.

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/09/01 Amended 01/01/11

Name of entity	Pilot Energy Limited
ABN	115 229 984

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Bruce Gordon
Date of last notice	19 August 2022

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Direct or indirect interest	Indirect
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to the relevantinterest.	PAD Pty Ltd ATF The Gordon Super Fund
Date of change	15 February 2023
No. of securities held prior to change	4,850,000 fully paid ordinary shares2,000,000 unlisted options
Class	Fully paid ordinary shares
Number acquired	650,000 fully paid ordinary shares and325,000 free attaching options
Number disposed	n/a
Value/ConsiderationNote: If consideration is non-cash, provide details and estimatedvaluation	Total consideration: $9,750Price per share: $0.015

• See chapter 19 for defined terms.

01/01/2011

Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

No. of securities held after change	5,500,000 fully paid ordinary shares2,325,000 unlisted options
Nature of changeExample: on-market trade, off-market trade, exercise of options, issueof securities under dividend reinvestment plan, participation in buy-back	AcquisitionunderNovember2022Placement

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

==> picture [434 x 302] intentionally omitted <==

----- Start of picture text ----- Detail of contract n/aNature of interestName of registered holder(if issued securities)Date of changeNo. and class of securities to whichinterest related prior to changeNote: Details are only required for a contract inrelation to which the interest has changedInterest acquiredInterest disposedValue/ConsiderationNote: If consideration is non-cash, provide detailsand an estimated valuationInterest after change----- End of picture text -----

Part 3 –[+] Closed period

==> picture [434 x 166] intentionally omitted <==

----- Start of picture text ----- Were the interests in the securities or contracts detailed Noabove traded during a [+] closed period where prior writtenclearance was required?If so, was prior written clearance provided to allow the trade n/ato proceed during this period?----- End of picture text -----

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

If prior written clearance was provided, on what date was this n/a provided?

• See chapter 19 for defined terms.

01/01/2011

Appendix 3Y Page 3