88 Energy Regulatory News (88E)

13 July 2020

88 ENERGY LIMITED

Issue of Equity

88 Energy Limited ("88E" or the "Company") confirms that it has issued a further 35,792,978 fully paid ordinary shares (the "New Ordinary Shares") in the Company in relation to the recommended off-market takeover offers (the "Offers") for all of the ordinary shares and listed options in XCD Energy Limited (ASX: XCD) ("XCD Energy"). The New Ordinary Shares have been issued in respect of further acceptances of the Offers received prior to 7.00 p.m. on 7 July 2020.

Application has been made for admission of the New Ordinary Shares issued to trading on AIM on 14 July 2020. Following the issue of all the New Ordinary Shares, which rank pari passu to the existing ordinary shares in the Company, the Company has 8,712,695,565 ordinary shares in issue, all of which have voting rights.

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