ASX / MEDIA RELEASE

5 July 2016

Company Announcements Office Australian Securities Exchange Limited 20 Bridge Street

Sydney NSW 2000

Re: Cancellation of Icon Energy Limited Shares Pursuant to On-market Buy-back

In accordance with ASX Listing Rule 3.8A, enclosed is a copy of the Australian Securities and Investments Commission (ASIC) form 484, which was lodged with ASIC on 5 July 2016, in respect of the cancellation of 3,886,582 fully paid ordinary shares in Icon Energy Limited as part of the Company's on-market buy-back.

Dr Kevin Jih

Executive Director / CFO / Company Secretary

For more information contact Icon Energy; Corporate

Mr Raymond James Managing Director

Phone +61 7 5554 7111

E-mail [email protected]

Icon Energy Limited ABN 61 058 454 569 PO Box 2004, Broadbeach QLD 4218 Australia

P 07 5554 7111 F 07 5554 7100

www.iconenergy.com

Page 1 of 1

Australian Securities &

Investments Commission

Change to company details

OFFICE USE ONLY: 1F

Form 484

Corporations Act 2001

Sections A, B or C may belodged independently withthis signed cover page to notify ASIC of:

A1Change of address

A2. Change of name - officeholders or proprietary company members

A3 Change - ultimate holding company

All mandatory fields will be identified with an *.

81 Cease company officeholder 82 Appoint company officeholder 83 Special purpose company

C1 Cancellation of shares C2 Issue of shares

C3 Change to share structure

C4 Changes to the register of members for proprietary companies

If there is insufficient space in any section of the form, you may photocopy the relevant page(s) and submit as part of this lodgement

Company details Company name *

!Icon Energy Limited

Refer to guide for information about corporate key

ACN/ABN *

!61058 454 569

Corporate key *

Lodgementdetails Who should ASIC contact if there is a query about this form?

Firm/organisation

!icon Energy Limited

Contact name/position description

!Mr Raymond James

ASIC registered agent number (if applicable)

Signature

Telephone number

1015554 7177

Postal or DX address

!PO Box 2004

!Broadbeach,Queensland,4218

Total number of pages including this cover sheet

uJ

This form must be signed by a current officeholder of the company.

This form must be SIGNED and DATED by a current

officeholder after it is

PRINTED

I certify that the information in this cover sheet and the attached sections of this form are true and complete. Name *

!Raymond James

Capacity •

Director

DCompany secretary Signature

Lodgement Send completed and signed forms to:

Australian Securities and Investments Commission,

PO Box 4000, Gippsland Mail Centre VIC 3841.

Or lodge the form electronically by visiting the ASIC website www . asic.gov,au

ASIC Form 484

For helpor more information Telephone 1300 300 630

Email Click here to send ASIC an email

Web www asic gov au

Cover page

Change Notification Page

Please notify the changes you wish to make by selecting at least one of the tick boxes available below. Your tickbox selections will generate the appropriate section(s) which will appear after this page.

A1 DChange of address

A2 D Change a name for officeholder or proprietary company members

A3 DChange of ultimate holding company details 81 D Cease an officeholder

1. DAppoint an officeholder

2. D Change to special purpose company status

>' ' r

( Click on the button below if you need assistance in making your selection

. .> I L ; • Form 484 Guide \ / ! ,

lOnce you have made all your selections, scroll down to complete the

i required sections

To notify ASIC of changes to the shares and/or members register, select the appropriate tickbox below.

Please wait until the table displays showing the appropriate sections that you should complete.

C D Transfer of shares

C DChanges to amounts paid

C D Changes to beneficial ownership

C1 Cancellation of shares

Reason for cancellation

DRedeemable preference shares - S.254J

Please indicate the reason that shares have been cancelled (select one or more boxes)

Details of cancelled shares

DECapital reduction - S.256A •• S.256E buy-back - ss.257H(3)

Minimum holding buy-back by listed company

Other buy-back type.A form 280 or 281 must be lodged at least 14 days, and no more than 1 year before the share buy-back can take place.

D Forfeited shares - S.2580

DShares returned to a public company -- ss.258E(2) & (3) 00ther

List the details of shares cancelled in the following table

Share class code Number of shares cancelled Amount paid (cash or otherwise)

!ORD 13886582 '117663.30

Earliest date of change

Please indicate the earliest date that any of the above changes occurred *

!04/07/2016 I (dd/mm/yyyy)