Energy One : Notice of Extraordinary General Meeting

Dear Shareholder,

Notice of Extraordinary General Meeting 10.00am (AEST) 6 June 2022

Level 13, 77 Pacific Highway, North Sydney, NSW, 2060

On behalf of the Board, I am pleased to invite you to an Extraordinary General Meeting of Energy One Limited. The full Notice of Meeting (including details of resolutions being put to the Meeting), important Voting Information and an Explanatory Memorandum is included below and can also be found atwww.energyone.com/investors or from the ASX website atwww.asx.com.au.

With regards to the COVID-19 pandemic, the Company will adhere to all social distancing measures prescribed by government authorities at the Meeting, and any Shareholders attending the Meeting will need to ensure they comply with the protocols. We are concerned for the safety and health of Shareholders, staff and advisers, so we will put in place certain measures including social distancing requirements and restrict attendance numbers accordingly. The Board further reserves the right to hold the AGM purely by video conference to ensure compliance with applicable laws or Department of Health or NSW Health recommendations

The Board strongly encourages Shareholders to lodge a directed proxy appointing the Chair as proxy with directions on how to vote each item of business rather than attending the meeting in person; and to submit any questions ahead of the EGM to the Company. All shareholders can lodge their proxy vote on-linewww.linkmarketservices.com.au or through the submission of the attached proxy form.

Shareholders can submit questions ahead of the EGM to the Company by way of email [e-mail]. The Company will also broadcast the meeting for those unable to attend. The broadcast is provided to allow shareholders to view the meeting however shareholders will not have the ability to ask questions of the Directors via this forum. Shareholders who wish to ask questions of the Directors must attend the meeting in person. Details of the video link will be announced to the ASX closer to the date of the meeting.

If you have problems accessing this service, please contact our share registry, Link Market Services on [phone] or [e-mail].

Yours Sincerely,

Mr Guy Steel

CFO & Company Secretary Energy One Limited

27 April 2022

If you wish to change your communication options, please go to the registry's website atwww.linkmarketservices.com.au

ENERGY ONE LIMITED

ABN 37 076 583 018

NOTICE OF EXTRAORDINARY GENERAL

MEETING

Given current health risks created by the coronavirus (COVID-19) pandemic, the Company strongly encourages shareholders to consider participation at the EGM without attending in person, such as appointing the chairperson as proxy with directions on how to vote each item of business. Shareholders who are considering physically attending the EGM should review applicable laws on public gatherings and follow government warnings and recommendations. For further information, please read the "Voting Options" section on page 3. Shareholders are strongly advised to complete their proxies online no later than 10.00am 4th June 2022

Date	6th June 2022
Time	10.00am (AEST)
Place	Level 13, 77 Pacific Highway
North Sydney NSW 2060
THIS IS AN IMPORTANT DOCUMENT
AND REQUIRES YOUR ATTENTION

NOTICE OF EXTRAORDINARY GENERAL MEETING

Notice is given that an Extraordinary General Meeting of Energy One Limited [ABN 37 076 583 018] (Energy One, EOL or the Company) will be held at Level 13, 77 Pacific Highway, North Sydney NSW 2060 on 6th June 2022 at 10.00am. A proxy form accompanies this Notice of Extraordinary General Meeting.

The Explanatory Memorandum and the Proxy Form attached to this Notice of Meeting are incorporated into and form part of this Notice of Meeting. A detailed explanation of the background and reasons for the proposed resolutions are set out in the Explanatory Memorandum.

AGENDA

1. Approval of Financial Assistance

To consider, and if thought fit, to pass with or without amendment the following resolution as a special resolution (Resolution 1):

"That, for the purposes of sections 260A and 260B(2) of the Corporations Act 2001 (Cth) and for all other purposes, approval is given for CQ Energy Pty in its own capacity and as Trustee for CQ Energy Unit Trust, CQ Risk Pty Ltd in its own capacity and as Trustee for CQ Risk Unit Trust and CQP Capital Pty Ltd (together referred to as CQ) which are all wholly-owned entities of EOL to provide financial assistance to EOL in connection with the acquisition by EOL of all of the ordinary shares and units in CQ, as further described in the Explanatory Memorandum that accompany this Notice"

Please refer to the Explanatory Memorandum, prepared in accordance with section 260B(4) of the Corporations Act 2001 (Cth) (the Corporations Act), which forms part of this Notice.

2. Approve the prior issue of 981,999 shares to CQ Founders

To consider and, if thought fit, pass the following as an ordinary resolution (Resolution 2 and together with Resolution 1, the Resolutions):

"That for the purposes of ASX Listing Rule 7.4 and all other purposes, approval is given for the issue of 981,999 ordinary shares issued to the CQ Founders (as defined in, and further described in, the Explanatory Memorandum).

3. General Business

To transact any other business legally brought forward to the meeting in accordance with the Constitution.

Guy Steel

Company Secretary

By order of the Board 27 April 2022

Voting entitlement

In accordance with paragraphs 7.11.37 and 7.11.38 of the Corporations Regulations, the board of directors of EOL (the Board) has determined that a person's entitlement to vote at the Extraordinary General Meeting will be the entitlement of that person set out in the register of the shareholders of EOL (the Shareholders) as at 7.00pm (AEST time) on 4th June 2022. Accordingly, share transfers registered after that time will be disregarded in determining entitlements to attend and vote at the meeting.

Attendance at the EGM

In order to minimise health risks created by the coronavirus (COVID-19) pandemic and ensure compliance with current applicable laws relating to public gatherings, the Board strongly encourages Shareholders:

•  to lodge a directed proxy appointing the chairperson of the EGM (the Chair) as proxy with directions on how to vote each

  item of business rather than attending the meeting in person; and

•  to submit any questions ahead of the EGM to the Company.

Further information on how to appoint a proxy to vote on your behalf is described under the heading "Voting by Proxy" under this section. Please pay particular attention to this section to ensure you correctly appoint a proxy.

Shareholders can submit questions ahead of the EGM to the Company by way of email [e-mail].

The EGM will have a video conference link the details of which will be announced on the ASX shortly prior to the meeting. The link is provided as an opportunity for shareholders to observe the meeting only and attendees will not be able to ask questions of the Board. Shareholders wishing to ask questions should either email their question or attend the meeting in person.

In-person attendance

While the Company will seek to take all reasonable precautions available, the Board cannot give any assurance that those persons wishing to attend the EGM in person will not be putting themselves at risk to health hazards concerning COVID-19.

To the extent permitted under law, the Company reserves the right to deny entry into the EGM venue or require any person to leave the venue to ensure the health and safety of the attendees at the EGM and compliance with applicable laws. The Board further reserves the right to hold the EGM purely by video conference to ensure compliance with applicable laws or Department of Health or NSW Health recommendations. The Board strongly urges shareholders to review and follow the Australian Department of Health and NSW Health's instructions and recommendations in relation to the COVID-19 outbreak.

The EGM will only consist of the items of business set out in this Notice of Meeting.

Due to travel restrictions and to minimise health risks to shareholders, officers and other attendees, some Directors and Senior Management may not be able to attend the EGM in person. Those Directors and Senior Management will participate in the EGM virtually or otherwise.

Voting Options

Voting by proxy

A shareholder who is entitled to attend and vote at the meeting may appoint a person as the shareholder's proxy to attend and vote on behalf of the shareholder. Proxies need not be shareholders of the Company.

A shareholder who is entitled to attend and cast two or more votes at the meeting may appoint not more than two proxies to attend and vote on behalf of the shareholder. Where two proxies are appointed, each proxy must be appointed to represent a specified proportion of the shareholder's voting rights.

Any person who is a joint holder of shares in EOL may appoint a proxy by completing the proxy form attached to this notice of meeting. If more than one joint holder appoints a proxy or seeks to vote personally at the meeting, then the person whose name stands first on the register shall alonebe entitled to vote. If the appointment is signed by an attorney, the power of attorney or a certified copy of it must be sent with the proxy form.

To vote by proxy, please complete and sign the proxy form included with this notice of meeting and return it to the Company Secretary, Energy One Limited so that it is received no later than 48 hours before the time for holding the meeting. Proxy forms received after the time stated above will not be accepted or valid.

Electronically:	www.linkmarketservices.com.au
Login to the Link website using the holding details as shown on the Proxy Form. Select 'Voting' and follow the prompts to
lodge your vote. To use the online lodgment facility, Shareholders will need their "Holder Identifier" (Securityholder
Reference Number (SRN) or Holder Identification Number (HIN) as shown on the front of the Proxy Form).
Email:	[e-mail]
Fax:	[phone]
Mail:	Energy One Limited, C/- Link Market Services Limited, Locked Bag A14, Sydney South NSW 1235
Delivery:	Link Market Services Limited, Level 12, 680 George Street Sydney NSW 2000 (during business hours 9am to 5pm Mon - Fri)

While the option to return completed and signed proxy forms by mail and delivery remain available, there is a risk that your physical proxy forms will not be received as mail delivery is restricted, and the registered office of the Company is not fully manned due to the COVID-19 pandemic and restrictions around public gatherings. To ensure your signed and completed proxies are received in time and processed, the Board strongly encourages shareholders to deliver the signed proxies online or email.

Voting in person

While it is possible for you to vote in person by attending the meeting, it is possible that the Company may deny you physical entry into the EGM venue to ensure the health and safety of any person at the EGM and compliance with applicable laws. It is further possible that the EGM may be held by way of video conferencing where relevant health directions prohibit physical gatherings. The Board strongly recommends that you exercise your right to vote by way of proxy, and to appoint the Chairperson as proxy with directions on how to vote each item of business.

Corporate Representatives

A shareholder that is a company may by resolution of its directors authorise a person to act as its representative to vote at the meeting. A certificate of appointment of a corporate representative must be executed in accordance with the relevant company's constitution and must be available for inspection at the meeting. Where the certificate of appointment is signed on behalf of the company by only one signatory and that signatory is not the sole director and sole company secretary, a certified copy of the company's constitution must also be available at the meeting.

Voting Intention of the Chair for all Resolutions

Shareholders should be aware that any undirected proxies given to the Chair will be cast by the Chair and counted in favour of the Resolutions the subject of this Meeting, subject to compliance with the Corporations Act.

Voting exclusions

Resolution 2

In accordance with ASX Listing Rule 14.11, the Company will disregard any votes cast by or on behalf of the CQ Founders (as defined in the Explanatory Memorandum) or associates of the CQ Founders.

These restrictions however will not apply to a vote cast as proxy for a person who is entitled to vote on the resolution:

• • if the vote is cast in accordance with directions in the proxy form specifying how the proxy is to vote on Resolution 2; or

• • if the vote is cast by the Chairman of the meeting and the proxy form expressly authorises him to vote as he decides on Resolution 2;

• • if the vote is cast by a holder acting solely in a nominee, trustee, custodial or other fiduciary capacity on behalf of a beneficiary

  or provided the following conditions are met:

  • o the beneficiary provides written confirmation to the holder that the beneficiary is not excluded from voting, and is not an associate of a person excluded from voting, on the Resolution; and

  • o the holder votes on the Resolution in accordance with directions given by the beneficiary to the holder to vote in that way.

The Chairman of the meeting intends to vote, as your proxy, in favour of Resolution 2 where the proxy form expressly authorises him to vote as he decides on Resolution 2. If you do not want the Chairman of the meeting to vote as your proxy in favour or against this resolution you need to direct your proxy to vote for, against, or to abstain from voting on, the relevant resolution by marking the appropriate box on the proxy form.