WHITEHAWK LIMITED — Capital/Financing Update 2018

Sep 16, 2018

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FOR IMMEDIATE RELEASE 17 September 2018

ASX Code:WHK

WhiteHawk Non-Renounceable Entitlement Issue

Highlights:

• Non-Renounceable pro rata Entitlements Issue

• To raise up to approximately $1.6m (before costs) at 4.5 cents per share

• One (1) new share for every two (2) shares held on the record date of 20 September 2018

• One (1) free attaching unlisted option for every two (2) shares subscribed with an exercise price of 10c, expiring 2 years from date of Issue.

• Discount of 18% to last closing price and 17% to 20 Day VWAP (not Including value of free attaching Options)

• Major shareholders have expressed intention to take up their entitlements in full

Perth, WA and Alexandria, VA – WhiteHawk Limited (ASX:WHK) (“WhiteHawk or “the Company”), the first global online cyber security exchange enabling small-to-medium businesses to take smart action against cyber-crime and fraud, is pleased to announce a non-renounceable entitlement issue to raise $1,605,349 (before costs) (Entitlement Issue).

Under the Entitlements Issue, eligible shareholders will be able to subscribe for one (1) new share for every existing two (2) shares they hold as at 20 September 2018 ( New Shares ) together with one (1) free attaching unlisted 2 year option exercisable at 10c ( New Option ) for every two (2) New Shares subscribed for, to raise approximately $1,605,349 before costs.

The price of New Shares under the Offer is $0.045 each ( Issue Price ). The Company lodged a prospectus for the Offer ( Prospectus ) with ASIC on 14 September 2018.

The Entitlements Issue Price represents an 18% discount to the last closing price of the company’s shares on the ASX of 5.5 cents on 14th September 2018 and a 17% discount to the volume weighted average trading price (VWAP) for the 20 trading days to 14th September 2018 of 5.42 cents. The calculation of the discount does not include the added value of the free attaching Options.

The funds raised from the Entitlement Offer will be used to grow the business through low cost high impact sales channels and to support and grow the Cyber 360 Review product and the Cybercrime Support Network 211 partnerships to deliver customers to the Online Cybersecurity Exchange at scale.

The Offer is being made to all shareholders of the Company ( Shareholders ) named on its register of members at 5:00pm (AWST) on 20 September 2018 ( Record Date ), whose registered address is in Australia, New Zealand, Singapore or United Kingdom. Eligible shareholders may also apply for any shortfall shares.

Level 28 140 St George Tce Perth WA 6000 Tel : +61 8 6311 4636, Fax : +61 8 6311 4661 ABN: 97 620 459 823 www.whitehawk.com

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Following completion of the Offer, the Company will have issued approximately 35,674,414 New Shares resulting in total Shares on issue of approximately 107,023,242. The Company will have also issued approximately 17,837,207 New Options resulting in total Options on issue of approximately 36,962,207.

A Prospectus providing details of the Entitlements Issue has been lodged with the Australian Securities and Investments Commission and is available on ASX’s and WhiteHawk Limited’s website. Eligible Shareholders will be mailed a Prospectus together with an Entitlement and Acceptance Form no later than 24 September 2018.

Key dates for the Offer

Event	Proposed Date
Lodgement of Prospectus & Appendix 3B with ASX	17 September 2018
Notice sent to Optionholders	17 September 2018
Notice sent to Shareholders	18 September 2018
Ex-date	19 September 2018
Record Date for determining Entitlements	20 September 2018
Prospectus despatched to Shareholders & Company announces despatch has been completed	24 September 2018
Last day to extend the Closing Date	10 October 2018
Closing Date*	15 October 2018
Securities quoted on a deferred settlement basis	16 October 2018
ASX notified of under subscriptions	18 October 2018
Despatch of holding statements	22 October 2018
Quotation of Securities issued under the Offer*	23 October 2018

• The timetable is indicative only and the Company reserves the right to vary it any time without prior notice subject to the ASX Listing Rules and the Corporations Act 2001 (Cth).

Commenting on the Entitlement Issue, WhiteHawk Executive Chair, Terry Roberts said "This is an exciting time for WhiteHawk and our shareholders. We have already received expressions of support for the Entitlement Issue from major shareholders which follows our recently announced broadening pipeline for our 360 Cyber Risk Framework product across US Government and large US corporations. The twin strategies of the 360 Cyber Risk Review and the Cybercrime Support Network/211 Hotline will increasingly drive companies needing remedial action to our online Cyber Security Exchange, which Is now fully enabled through our WhiteHawk 3.0 website and 3.0 CyberPath Solution Engine."

Level 28 140 St George Tce Perth WA 6000 Tel : +61 8 6311 4636, Fax : +61 8 6311 4661 ABN: 97 620 459 823 www.whitehawk.com

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Terry Roberts added "We have undertaken this capital raise to grow our business and revenues via an Entitlements Issue to ensure our shareholders are able to participate and benefit from the discounted offer price and attaching free option. We commend shareholders to join with major shareholders to take up their entitlements."

-ENDS-

For more information:

WhiteHawk media inquiries (USA) LeighAnne Baxter publicrelations@whitehawk.com +1 833 942-9237

WhiteHawk investor inquiries (AUS) Kevin Kye investors@whitehawk.com

About WhiteHawk

Launched in 2016, WhiteHawk began as a cyber security advisory service with a vision to develop the first self-service cyber security exchange simplifying how businesses discover, decide, and purchase cyber security solutions. Today, we help US and Australian companies to connect to content, solutions, and service providers through evolving our rich data and user experience. WhiteHawk is a cloud-based cyber security exchange platform that delivers ‘solutions on demand' for small to midsize enterprises. The platform enables customers to leverage their custom Security Story to find cyber tools, content, and relevant services through our algorithms to better understand how to improve and stay ahead of threats. The Platform enables companies to fill their needs on an ongoing basis with demonstrated cost and time savings. For more information, visit www.whitehawk.com.

Level 28 140 St George Tce Perth WA 6000 Tel : +61 8 6311 4636, Fax : +61 8 6311 4661 ABN: 97 620 459 823 www.whitehawk.com