FNK Fenikso Limited

Fenikso Limited

Notification of First Investments

16^th August 2024: Fenikso Limited (AQSE: FNK) (the "Company") announces that it has made the first investments under its new strategy to make its cash generate higher returns whilst it continues to receive payments under the LOGI loan. The Company has invested in certain fixed income instruments with returns higher than 10% per annum. One of the investments relates to a six-month secured convertible loan agreement with Coro Energy PLC ("Coro") (the "Loan""). The Loan is lower than 5% of the Company's assets however the Company notes the announcement by Coro and discloses below the related party nature of the transaction. Following the investment the Company retains a cash balance in excess of US$5,000,000. The Company will continue to consider ways to enhance the return on its cash including a share buy back as approved under the recent Annual General Meeting.

Rule 4.6 Statement

Tom Richardson, Chairman of Fenikso is also a Director of Coro. The directors (other than Tom Richardson) confirm that, having exercised reasonable care, skill and diligence, the related party transaction is fair and reasonable as far as the shareholders of the issuer are concerned.

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