Appendix 3Y Change of Director's Interest Notice Appendix 3Y Change of Director's Interest Notice

Rule 3.19A.2

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 30/09/01 Amended 01/01/11

Name of entity Indago Energy Limited

ABN 75 117 387 354

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director

Ray Shorrocks

Date of last notice

1 June 2016

Date of this notice

6 September 2016

Part 1 - Change of director's relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be disclosed in this part.

Direct or indirect interest

Direct and Indirect

Nature of indirect interest (including registered holder)

Note: Provide details of the circumstances giving rise to the relevant interest.

Spring Street Holdings Pty Ltd - Mr Ray Shorrocks is a director of the Company

Date of change

2 September 2016

No. of securities held prior to change

Direct

1,500,000 Director Options

The Director Options will vest after 12 months from issue, i.e. on 1 June 2017 and will convert on a one‐for‐one basis with an exercise price of $0.10 per option exercisable at any time prior to 5.00pm (Melbourne time) on 1 April 2019

Indirect

515,395 fully paid ordinary shares

Class

Ordinary Shares

+ See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 1

Appendix 3Y Change of Director's Interest Notice

Number acquired

19,200

Number disposed

N/A

Value/Consideration

Note: If consideration is non‐cash, provide details and valuation

$1,303.00

No. of securities held after change

Direct

1,500,000 Director Options

The Director Options will vest after 12 months from issue, i.e. on 1 June 2017 and will convert on a one‐for‐one basis with an exercise price of $0.10 per option exercisable at any time prior to 5.00pm (Melbourne time) on 1 April 2019

Indirect

534,595 fully paid ordinary shares

Nature of change

Example: on‐market trade, off‐market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy‐back

On Market Purchase

Part 2 - Change of director's interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of "notifiable interest of a director" should be disclosed in this part.

Detail of contract

N/A

Nature of interest

N/A

Name of registered holder (if issued securities)

N/A

Date of change

N/A

No. and class of securities to which interest related prior to change

Note: Details are only required for a contract in relation to which the interest has changed

N/A

Interest acquired

N/A

+ See chapter 19 for defined terms.

Appendix 3Y Page 2 01/01/2011

Interest disposed

N/A

Value/Consideration

Note: If consideration is non‐cash, provide details and an estimated valuation

N/A

Interest after change

N/A

Part 3 - +Closed period Appendix 3Y Change of Director's Interest Notice

Were the interests in the securities or contracts detailed

above traded during a +closed period where prior written clearance was required?

N/A

If so, was prior written clearance provided to allow the trade to proceed during this period?

N/A

If prior written clearance was provided, on what date was this provided?

N/A

+ See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 3

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