Issue of Securities

Oilex Ltd (the Company) is pleased to advise that it has today issued 90,190,999 shares (the “New Ordinary Shares”) following the conversion of 90,190,999 unlisted options for proceeds of £200,252 (A$360,295).

Pursuant to the terms of the Series B loan agreement, a total of £36,125 (A$65,000) of the conversion proceeds will be applied to the partial repayment of the loan.

Admission and Total Voting Rights

Application has been made for the New Ordinary Shares to be admitted to trading on AIM (Admission). It is expected that Admission will become effective and dealings in the New Ordinary Shares will commence at 8.00 a.m. on 21 November 2018.

Following Admission, the share capital of the Company will comprise 2,355,586,980 ordinary shares and, accordingly, the total number of voting rights will be 2,355,586,980.

The Appendix 3B for the conversion of the options is attached.

Issue of Securities