Fitzroy River : Results of Retail Entitlement Offer - 19 Mar 2021

ABN 75 075 760 655

ASX: FZR

19 March 2021

Company Announcements Office ASX Limited

Completion of Retail Entitlement Offer

Fitzroy River Corporation Limited (ASX: FZR) (Fitzroy or the Company) refers to its ASX release of 17 February 2021 announcing the accelerated 1 for 4 non-renounceable entitlement offer of new ordinary shares in the Company (New Shares) at $0.12 per New Share (Entitlement Offer).

Fitzroy is pleased to announce that it has successfully completed the Retail Component (Retail Component) of the Entitlement Offer.

Pursuant to the Retail Component, a total of 4,167,026 New Shares will be issued to retail shareholders, raising $500,043.12 before costs. The amount raised under the retail component of the Entitlement Offer comprised 85 applications for rights under the Retail Component totalling $453,547.08 as well as 35 applications for Additional Shares totalling $46,496.04.

The shortfall of approximately $995,515 not taken up under the Retail Component will be allotted to sub-underwriters of the Entitlement Offer.

12,462,984 New Shares under the Retail Component of the Entitlement Offer are expected to be allotted on 23 March 2021 and are expected to commence trading on the ASX on a normal settlement basis on 24 March 2021. The New Shares will rank equally with existing shares on issue. Holding Statements for New Shares issued under the Retail Component are expected to be despatched on 24 March 2021.

This announcement was authorised by the Board of Fitzroy River Corporation Limited. Contact Details regarding this announcement:

Justin Clyne

Non-Executive Director & Company Secretary [phone]

Registered Office: Suite 6.02, Level 6, 28 O'Connell Street Sydney NSW 2000

Mail to: GPO Box 4626, Sydney NSW 2001

Tel: [phone] Website:www.fitzroyriver.net.au