Shareholder Update October 2022

Dear Shareholder

I write to update you on the operations of the company.

Texas Gas Asset

The company is now undertaking the set to work program to put this asset back into production and have the Hydrogen and Methanol plants built and installed.

The work is progressing as per the plan, we are seeing some delays due to the current global environment.

North Queensland Project

The project is being worked-up internally and is to be located in North Queensland, possibly Townsville, to take advantage of that cities location to Coal Seam Gas and Export infrastructure.

It is envisioned that the project will produce Hydrogen and Methanol initially and possibly Ammonia for both local and international use.

The company is working on a feasibility for this project.

Re-Listing

The company is preparing to re-list on the ASX and has appointed the listing team to start the work required to do so.

The company is seeking to list on the ASX as soon as possible.

These works are progressing, the Re-listing team are progressing on the planned re-listing.

Year end 2021 and Half Year 2022 Accounts

The company is well under way to have these accounts finalised and we will call the AGM for 2022 in the near future.

Share Price

The company has set a share price of $0.10 per share, this has been adopted in line with the latest transactions by the company.

A Note on your Shareholding

We have received a number of inquiries about shareholding status in the company, I just want to make clear that even though the company is delisted from the ASX, You are still a shareholder of the company. After coming out of administration, the Company is now proposing to make a significant milestone acquisition as part of its new vision and strategy to have the company returning to operations.

Yours successfully

Stephen Petith
Executive Director

About Freedom Energy Corporation Limited

Freedom Energy Corporation Ltd. (FDM) is a Diversified Energy Company focused on acquiring low cost energy assets in the United States and Australia, covering Oil & Gas, Coal and New Energy (Hydrogen, Methanol, Ammonia, and others) with a focus on sustainable long-term, low-cost production of energy products, all the while meeting the expectations and demands of the 21st century.