WHITEHAWK LIMITED — Capital/Financing Update 2019

Jan 30, 2019

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FOR IMMEDIATE RELEASE 31 January 2019

A$1.2m Share Placement to an Institutional Investor

Equity Swap for A$800,000 to enable WhiteHawk to benefit from share price rises during the period of the Equity Swap

Highlights

• Placement to an Institutional Investor, RiverFort Global Opportunities PCC Ltd ("RiverFort") to raise A$1.2m before costs at 6.5c per share being a 2.99% discount to last closing price and representing approximately 18.5m shares.

• Equity Swap for A$800,000 with RiverFort enabling WhiteHawk to benefit from rises in the share price during the Equity Swap period.

• WhiteHawk has entered into the Equity Swap in the expectation that rising revenues and potential additional 360 Cyber Risk Review contracts with US Government and US corporations in the insurance, utility, defense and financial sectors will enable a rising share price from which WhiteHawk can benefit under the Equity Swap.

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 cybercrime, is pleased to announce that it has agreed a share placement to an Institutional Investor, RiverFort Global Opportunities PPC Ltd to raise A$1.2m before costs at 6.5c per share being a 2.99% discount to last closing price and representing approximately 18.5m shares.

WhiteHawk has a strong balance sheet with US$1.29m cash held as at December 31, 2018. The A$1.2m placement before costs will be applied as A$400,000 less costs to working capital and A$800,000 to the Equity Swap by way of a net set off.

The Equity Swap is expected to have a term of 12 months but may be extended or settled earlier depending on ASX monthly market trading volumes of WhiteHawk shares.

WhiteHawk will receive 1/12th of the Equity Swap amount of A$800,000 each month plus an amount that represents 50% of the difference between 7.15cents ( the Benchmark Price) and the market price for a month calculated on an aggregate of 10 daily volume weighted average prices in that month (Market Price). Conversely, if the Market Price is below the Benchmark Price in that month, then WhiteHawk would receive that months portion of the Principal Amount less the difference between the Market Price and Benchmark Price.

There are selling restrictions and volume limits on any share sales by RiverFort and RiverFort may vary the timing and amount of any share sales.

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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Funds raised will be used for working capital to support additional 360 Cyber Risk Review Contracts, a push into the Global Insurance sector for cyber security products and channel marketing of the WhiteHawk Exchange, the online decision engine based cyber security marketplace.

The shares will be issued from available placement capacity under ASX Listing Rule 7.1 and 7.1A. The Placement and Equity Swap was arranged by Viaticus Captial LLC, as advisor to WhiteHawk, for which it will receive a 1% transaction management fee. RiverFort will receive a 5% placement fee.

Information required under ASX Listing Rule 3.10.5A

The Company provides the following Information as requried under ASX Listing Rule 3.10.5A:

1. Details of the dilution to existing holders of ordinary securities caused by the issue – dilution to existing shareholders as a result of placement shares under Listing Rule 7.1A is 9.8% and result of placement shares under Listing Rule 7.1 is 7.3%.

2. The placement shares were issued under the rule 7.1A and not as a pro rata issue, given recent completion of Entitlements Offer.

3. No underwriting arrangements were in place for the placement.

4. Fees and costs incurred in connection with the issue is 5% placement fee and 1% transaction fee on the total funds raised.

-ENDS-

For more information:

WhiteHawk WhiteHawk Viaticus Capital Media inquiries (USA) Investor inquiries (AUS) Institutional Inquiries LeighAnne Baxter Kevin Kye Gavin Rezos publicrelations@whitehawk.com investors@whitehawk.com grezos@viaticuscapital.com +1 833 942-9237 +61 8 6311 4636 +447447560303

About WhiteHawk

Launched in 2016, WhiteHawk began as a cyber risk advisory service with a vision to develop the first online self-service, cyber security exchange, simplifying how companies and organizations discover, decide, and purchase cyber security solutions that directly mitigate their key cyber business risks. Today, we help US 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 virtual consultations, Artificial Intelligence Cyber Risk Profile’s that immediately match SME customers to tailored ‘solutions on demand. The platform enables customers to leverage their tailored Security Story to find affordable and impactful cyber tools, content, and relevant services through our algorithms and expertise, to better understand how to improve and stay ahead of today’s cyber 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

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About RiverFort Global Capital

Riverfort Global Capital Ltd (‘RiverFort’) is a London based UK Institutional Investment Manager investing in high growth companies. This is its first Equity Swap on the ASX following a number of successful similar transactions in the UK Market. RiverFort is the Invesment Manager of RiverFort Global Opportunties PCC Ltd – A Gibraltar based Experienced Investor Fund, authorised and regulated by the Gibraltar Financials Service Commission.

Riverfort provides comprehensive and innovative growth funding solutions to publicly listed and private companies across a range of sectors. With extensive industry knowledge and experience RiverFort prides itself in creating win-win-win partnerships between our alternative funding sources, including family office co-investors, and investee companies RiverFort believes in.

RiverFort is authorised and regulated by the UK Financial Conduct Authority.

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