Carbon Energy : Share Purchase Plan - Webcast and Closing Date Reminder

17 October 2018

ASX Market Announcements Platform Australian Securities Exchange

20 Bridge Street

Sydney NSW 2000

FOR ASX MARKET RELEASE

Share Purchase Plan

SPP Webcast and Closing Date Reminder

Level 9, 301 Coronation Drive, Milton QLD 4064 Australia PO Box 2118, Toowong DC QLD 4066 Australia phone + 61 (0) 7 3156 7777 fax + 61 (0) 7 3156 7776www.carbonenergy.com.au Carbon Energy Limited

ABN 56 057 552 137

Carbon Energy (Operations) Pty Ltd ABN 61 105 176 967

•  Share Purchase Plan (SPP) Webcast on 'Roadmap to Reinvention and Profitability' will be broadcast at 3:30 pm AEST on 18 October 2018

•  SPP is targeted to close on 22 October 2018

Carbon Energy Limited (ASX: CNX) (Carbon Energy or Company) provides the following reminders to shareholders:

Presentation webcast

Carbon Energy's Managing Director and CEO, Bryan O'Donnell, will be delivering the presentation on 'Roadmap to Reinvention and Profitability'.

To access the SPP Presentation webcast, please go to the Carbon Energy websitewww.carbonenergy.com.au.

Click Announcements & Report

Click Presentations

Click 18-Oct-2018 SPP MD & CEO Presentation Webcast

This presentation will be broadcast at 3:30 pm AEST on 18 October 2018 and will remain available in the Investor Centre on the Company's website.

SPP timetable

On 2 October 2018, the Company announced a SPP for eligible shareholders to raise up to circa $1.5 million.

Under the SPP, the Company invited eligible shareholders to participate by subscribing for up to $15,000 of Carbon Energy ordinary shares at $0.08 per share, without incurring any transaction or brokerage costs.

The right to participate in this SPP is available exclusively to eligible shareholders who are on the Company register at 7:00pm (Sydney time) on 1 October 2018 (Record Date) and having a registered address in Australia or New Zealand.

Information on the SPP offer was despatched to all eligible shareholders on 8 October 2018.

The SPP is targeted to close on 22 October 2018.

A summary of the SPP offer details is set out below:

Issue Price	$0.08 per share
Application Amount	Minimum of $1,000 (Minimum Application Amount) with staged increments of $1,000 up to a maximum of $15,000
Record Date	7.00pm (Sydney time) on Monday 1 October 2018
Closing Date	5.00pm (Sydney time) on Monday 22 October 2018
Allotment Date	Tuesday 30 October 2018
Quotation Date	Wednesday 31 October 2018

This timetable is indicative only and may be subject to change and subject to the requirements of the Corporations Act and the ASX Listing Rules.

Further information

If you have any questions about the SPP, please contact the offer information line on 1800 992 039 (within Australia) or [phone] (outside Australia) between 8:30am and 5:30pm (Sydney time), Monday to Friday.

For and on behalf of the Board

ENDS

www.carbonenergy.com.au 2