Norwest Energy NL : Unmarketable Parcel Share Sale Facility

Norwest Energy NL

Level 2, 30 Richardson Street West Perth, WA 6005

1. [phone]

1. [e-mail]
   www.norwestenergy.com.au

For personal use only

Announcement to ASX

15 July 2022

UNMARKETABLE PARCEL SHARE SALE FACILITY

Norwest Energy NL (ASX: NWE) (Norwest or Company) is pleased to advise that it has established an Unmarketable Parcel Sale Facility (Sale Facility) for shareholders who hold less than A$500 worth of fully paid ordinary shares in the Company (Shares), (Unmarketable Parcel).

Based on the price of Shares at the close of trading on Monday, 11 July 2022 (the Record Date) of A$0.042, a holding of less than 11,904 Shares constitutes an Unmarketable Parcel.

The Company is offering the Sales Facility to enable shareholders who hold an Unmarketable Parcel to sell their Shares without having to act through a broker or pay brokerage or handling fees. Norwest will pay all costs associated with the sale and transfer of Shares through the Facility (excluding any tax consequences of the sale, which will be the responsibility of the relevant shareholders).

Under the Company's Constitution, each participating shareholder will receive their proportionate share of the total sale proceeds for all Shares sold through the Facility without any brokerage or handling costs. As participating shareholders will receive an average price for their Shares, the price received may differ from the price appearing in news sources or quoted by ASX on any day and may not be the best price on the day the Shares are sold.

The sale of Unmarketable Parcels through the Facility will also benefit the Company, as it is expected to reduce the administrative costs associated with maintaining a large number of small shareholdings on the Company's share register.

In accordance with the Company's Constitution (Constitution) and the ASX Listing Rules, the attached letter and share retention form (Retention Form) will be sent to all shareholders who hold an Unmarketable Parcel on the Record Date.

Shareholders who hold an Unmarketable Parcel and wish to retain their Shares must "opt out" of the Facility by returning their duly completed Retention Form to the Company's share registry (Computershare Investor Services Pty Limited) in accordance with the instructions on the Retention Form, by no later than 5:00pm (WST) on Monday, 29th August 2022 (Sale Facility Closing Date). Any shareholder who holds an Unmarketable Parcel and does not return a duly completed Retention Form by the Closing Time will have their Shares sold through the Facility.

Norwest has appointed Euroz Hartleys Limited to sell the Shares under the Facility, and the proceeds from the sale of the Shares will be remitted to participating shareholders as soon as practicable following settlement of all Shares sold through the Facility.

The key dates in relation to the Facility are set out below:

Event	Date
Record Date for establishing holders of Unmarketable Parcels	11th July 2022
ASX announcement regarding Unmarketable Parcels Sale Facility	15th July 2022
Letter and Retention Form despatched to shareholders holding an	18th July 2022
Unmarketable Parcel
Closing Time for receipt of completed Retention Forms	29th August 2022

For personal use only

Norwest reserves the right to change any of the dates referred to in this announcement or the enclosed letter and Retention Form, or to vary, cancel or delay the Sale Facility or the sale of Shares at any time before the Shares are sold, by making an announcement to ASX. The Company has the ability to establish the Facility and facilitate the sale of Unmarketable Parcels under clause 3.7 of the Constitution and rule

15.13 of the ASX Listing Rules. The Company does not provide any recommendation or advice as to whether shareholders holding an Unmarketable Parcel should sell or retain their Shares.

If you have any questions about the operation of the Facility, please contact the Company on [phone]. If you have any queries in relation to this announcement, please do not hesitate to contact the Company Secretary at the number above.

Authorised for release to ASX by the Board of Directors.

For further information please contact/follow Norwest Energy at:

Web: www.norwestenergy.com.au

Phone: [phone]

Email: [e-mail]

For personal use only

Sale of Unmarketable Parcels of Shares Facility

Dear Shareholder,

Norwest Energy NL (Norwest) recognises that there are a large number of shareholders with small parcels of shares for whom it may not be cost effective to sell those shares on the Australian Securities Exchange (ASX).

Norwest has established an unmarketable parcel sale facility (Sale Facility) for shareholders on the register who have Norwest holdings valued at less than A$500 (Unmarketable Parcel).

Your Norwest shares have been included in the Sale Facility because our share register shows that, as at 5pm WST on Monday, 11th July 2022 (the Record Date), the number of shares held by you was an Unmarketable Parcel (i.e., less than A$500 and being less than 11,904 shares).

If the market value of your holding remains below A$500 on 29th August 2022 (Sale Facility Closing Date), based on the share price at the Record Date at 5pm (WST) on Monday, 11th July 2022, your Norwest shares will be sold, and the proceeds sent to you unless you notify us that you do not want them sold.

If you wish to retain your shares, please notify us prior to the Sale Facility Closing Date by completing and returning the Retention Form in the enclosed reply-paid envelope.

WHY HAS NORWEST ESTABLISHED THE SALE FACILITY?

Norwest is offering shareholders with Unmarketable Parcels an opportunity to sell their shares through the Sale Facility at a market price, without incurring any brokerage or transfer fees. Shareholders can choose to opt out of the Sale Facility by completing and returning the Retention Form included.

The Sale Facility will also reduce Norwest' administrative and registry costs associated with small parcels of shares.

HOW DOES THE SALE FACILITY WORK?

Shares included in the Sale Facility will be sold following the Sale Facility Closing Date, unless we are notified otherwise, or the holding is no longer less than A$500.

Shareholders will not pay any brokerage or handling fees for the sale of their Norwest shares under the Sale Facility. The price that you receive for your shares under the Sale Facility will be determined by when and how the shares are sold and, to comply with the Company's constitution, each participating shareholder will then receive their proportionate share of the total sale proceeds for all Shares sold through the Sale Facility without any brokerage or handling costs.

As participating shareholders will receive an average price for their Shares, the price received may be different from the price appearing in news sources or quoted by ASX on any day and may not be the best price on the day the Shares are sold.

Norwest Energy NL, Level 2, 30 Richardson Street, West Perth, WA 6005 PO Box 1264, West Perth, WA 6872

P: [phone] E: [e-mail] www.norwestenergy.com.au

For personal use only

WHAT DO I NEED TO DO?

You can choose whether or not to participate in the Sale Facility prior to the Sale Facility Closing Date at 5pm (WST) on Monday, 29th August 2022.

Option 1: No further action is required to participate in the Sale Facility

If you have not submitted a Retention Form by the Sale Facility Closing Date and your holding has a value of no more than A$500, your shares will be sold through the Sale Facility, and you will receive the sale proceeds as soon as practicable following the Sale Facility Closing Date.

You must take action before the Sale Facility Closing Date if you do not want to sell your shares through the Sale Facility.

Option 2: To Retain Your Shares, You Must Either:

1. Complete and submit the attached Retention Form to Computershare prior to the Sale Facility Closing Date. If you submit a Retention Form, please allow a reasonable time for it to be received by Computershare; or
2. Top up your shareholding to be more than an Unmarketable Parcel prior to the Sale Facility Closing Date (for example, by acquiring additional shares on the ASX).

If you hold shares in multiple shareholdings, some of which are Unmarketable Parcels, then Norwest will sell those Unmarketable Parcels, unless a Retention Form is received for each shareholding, or you merge the holdings by contacting Computershare.

IMPORTANT NOTES

The attached Frequently Asked Questions, which form part of this document, set out further details on the Sale Facility. Please read the Frequently Asked Questions before making any decision.

Norwest and Computershare do not make any recommendation or gives any advice to you as to whether you should participate in the Sale Facility. Norwest may modify the Sale Facility Closing Date or may terminate or suspend the Sale Facility. Any such modification, termination or suspension will be notified by way of a market announcement on the ASX.

Information on the market price of Norwest shares is available from the ASX website (www.asx.com.au) under ASX Code "NWE".

If you require further information, please contact the Company Secretary, Jo-Ann Long, on [phone] (within Australia).

Yours faithfully,

Jo-Ann Long

Company Secretary

Norwest Energy NL, Level 2, 30 Richardson Street, West Perth, WA 6005 PO Box 1264, West Perth, WA 6872

P: [phone] E: [e-mail] www.norwestenergy.com.au

For personal use only

THE SALE FACILITY - FREQUENTLY ASKED QUESTIONS

1. What is the Sale Facility?

Norwest has established the Sale Facility to facilitate shareholders holding Unmarketable Parcels (i.e., holdings with a value of less than A$500) in Norwest to sell their shares. Norwest will arrange to sell the Unmarketable Parcels at no cost to you, and to remit payment to you.

2. Why is the Sale Facility being offered?

Norwest has established the Sale Facility to enable you to sell your shares cost effectively and simply, while also assisting Norwest to reduce administrative and registry costs associated with servicing Unmarketable Parcels.

As at 5pm (WST) on Monday, 11th July 2022, the number of Norwest shareholders with Unmarketable Parcels was 847 (being 10.93% of all Norwest shareholders), with those holdings representing 0.068% of Norwest's issued capital.

3. Does Norwest have the right to sell my shares?

Under ASX Listing Rule 15.13 and clause 3.7 of the Company's Constitution, Norwest may notify shareholders who hold Unmarketable Parcels that it intends to arrange for their shares to be sold on their behalf. This letter and the Retention Form satisfy the notice requirements under ASX Listing Rule 15.13 and clause 3.7 of the Company's Constitution.

MY ELIGIBILITY

4. What is an Unmarketable Parcel?

An 'Unmarketable Parcel' is a holding of Norwest shares with a value of less than A$500. Based on the closing price of Norwest shares at 11th July 2022, this is a holding of 11,904 shares or less.

5. If I buy more Norwest shares before the Closing Date, will I retain my holding?

Yes. Norwest will not sell your shares if you increase your holding of Norwest shares prior to the Sale Facility Closing Date, such that you no longer have an Unmarketable Parcel on that date. Any additional shares acquired must be registered by the Sale Facility Closing Date under the same name and address and with the same holder number (SRN or HIN) as set out in the accompanying Retention Form.

6. What if I sell my shares before the Sale Facility Closing Date?

If you sell your shares in Norwest prior to the Sale Facility Closing Date, no further action will be taken.

Norwest Energy NL, Level 2, 30 Richardson Street, West Perth, WA 6005 PO Box 1264, West Perth, WA 6872

P: [phone] E: [e-mail] www.norwestenergy.com.au