Lion Energy : Cleansing Statement

ASX Announcement

6 July 2021

Cleansing Statement

Lion at a glance

• ASX listed oil and gas company with PSC's in Indonesia.
• Focus on conventional oil and gas production and development, appraisal and step out exploration risk opportunities
• Exploring green hydrogen opportunities in Australia
• Net production around 40 bopd from the Seram (Non-Bula) PSC which also contains the 1.5TCF Lofin gas/condensate discovery
• Leveraging synergies in conventional assets and access to both infrastructure and markets
• Executive team and investors with impressive track records for value creation in Asia.

Contact

Lion Energy Limited

ABN 51 000 753 640

ASX Code: LIO

Suite 1

295 Rokeby Road

Subiaco WA 6008 Australia

Tel [phone] | Fax [phone] [e-mail]

www.lionenergy.com.au

Directors & Officers

Tom Soulsby	Executive Chairman
Damien Servant	Executive Director
Russell Brimage	Non-Executive Director
Chris Newton	Non-Executive Director
Zane Lewis	Non-Executive Director
Arron Canicais	Company Secretary

For more information contact

Tom Soulsby

[phone] [e-mail]

Lion Energy Limited (ASX: LIO - the "Company" or "Lion") has today issued and allotted 51,697,144 fully paid ordinary shares upon conversion of convertible notes as approved by shareholders at the Annual General Meeting on 5 July 2021 and 11,666,667 fully paid ordinary shares at $0.03 per share to directors as approved by shareholders at the Annual General Meeting on 5 July 2021.

Below is the applicable Cleansing Notice.

Secondary Trading Exemption:

The Act restricts the on-sale of securities issued without disclosure, unless the sale is exempt under Section 708 or 708A. By the Company giving this notice, a sale of the Securities noted above will fall within the exemption in section 708A(5) of the Act.

The Company hereby notifies the ASX under paragraph 708(A)(5)(e) of the Act that:

1. The Company issued the Securities without disclosure to investors under Part 6D.2 of the Act;
2. As at the date of this notice the Company has complied with the provisions of Chapter 2M of the Act as they apply to the Company, and section 674 of the Act; and
3. As at the date of this notice there is no information:

1. that has been excluded from a continuous disclosure notice in accordance with the Listing Rules; and
2. that investors and their professional advisors would reasonably require for the purpose of making an informed assessment of:
   (1) The assets and liabilities, financial position and performance, profits and losses and prospects of the Company; or
   (2) The rights and liabilities attaching to the Securities.

For and on behalf of the board of

Lion Energy Limited

Arron Canicais

Company Secretary