About 4.50pm on Sunday 2 February 2020, emergency services were called to bushland near McNee Street at Broulee, following the discovery of a man's body.

The man was formally identified as 56-year-old Canberra resident, Peter Keeley.

Police said a post mortem examination was inconclusive; however, Mr Keeley had suffered head and facial injuries.

"Detectives from the State Crime Command's Homicide Squad and South Coast Police District established Strike Force Henrick to investigate the circumstances surrounding his death," police said.

"Following extensive investigations and a public appeal last week, strike force detectives executed three search warrants at homes in the Broulee area from 6am on Thursday, February 13.

"During the searches, officers seized mobile phones, laptops and other electronic equipment.

"Two 17-year-old boys were arrested and taken to Batemans Bay Police Station.

"They were both charged with murder and taking/detaining in company with intent to get advantage and occasioning actual bodily harm."

The pair were refused bail and are expected to appear in court on Thursday.

"Following further inquiries, a third 17-year-old boy was arrested at a home in the Broulee area just before 3pm on Thursday," police said.

"He has been taken to Batemans Bay Police Station and is expected to be charged in relation to the incident.

"Investigations under Strike Force Henrick are continuing."

Police are urging anyone with information that may assist Strike Force Henrick detectives to call Crime Stoppers on 1800 333 000 or use the Crime Stoppers online reporting page: https://nsw.crimestoppers.com.au/