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Form 604Coipailic= Aot Eol

a...0 mm

604 9/9/12 15,*2001

Notice of change of Interests of substantial holder

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GUIDE

S nature

L)40"gpigod

Lodging F=

Other forms tobicollialid

Addinonal *fonnaUon

Ann m,=

®DIGUIDE 0-VI 1lII

This guide does not form part of rhe prescribed formand Is Included by ASIC to assist you In completing andlodging form 604.

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ANNEXURE A TO FORM 604 (NOTICE OF CHANGE OF INTERESTS OF SUBSTANnAL HOLDER)

This le Anne,(in A of 1 Fee r ferred 20 h Form 604 (Noacs of Change of It*ereits of Substintial Holder) of Haohui Energy Ink,mat}onal (Hong Kom) Reiolsce CoLknuld

Al=:to of Iubili:,W hold•r (11

HaohumEnergy In*nstional (Hom Kong) Reeourci Co. L.*nmad (HED

Belng Haohu' Energy Re'olrce Co, Lki

Jhan Jh,nel Traclm Co., Lid.

Erdos Hatohul Cleaned Co,1 Co., Ud.

Erdol Do,long Ral Logistics Pty Ud.

BAng Haohia Chenghe Intarn,tional Tracing Ca, Ud.

Hil Inql Wie,=11 Energy Development Co., L.kl.

Erclos Guotal Trad4 CO., Ud.

Belng JNmel Chernic,1 Induty Co.Ud.

Billl  Hao,u Industy & Trade Co., LM-

B,ling X :huayuan Mochlne Manuracili*U Ca,Ud

BEng Hloym Ind[1-1,1 & Tr,de Ca, LkL

Golden Tide Group

Slate-owned A.- Supervi,ion and A*nhllstration Con¥,0„lon of Peopl sGoverlynintof Bing Mlm kk»RYBe*ig St-owned CepR»IOper! on Ind M lagernent Cen r

Be*U kgmel Gmup Co., L.kl.

BI*U Haohua En,rgy Reiolsce CO., Lid

Sgned: Yiwnou Gang, E,¢scilh, [*eciorDmbs: 17M1/2014

N-re of,=oclailon (2)

Rag*sced holder ofdepoil:=y Inlare- h CoAL

Asioda  of HEI by *tue of seclon 12(2)(a) of the Corporavons Act

Assod- of HEI by vit» of section 12(2») of the Corporavons Aot

Assoc  d H El by virtue of sedon 12(2Xa) orthe CorporaSons Act

Associa*e of Ha by *tue ofiecOon 12(2») of the Corpordons Act

A.,001@be of HEI by Mitue of sedlon 12(2)(a) Of the Corpor,Oons Act

Aisocia,8 of Ha by vitue of secaon 12(2Xa) of the Corporitons Act

Aseod- of Ha by,*tile of Ionon 129») of the Corpor,Sons Act

A.loci- of Ha by vktue of =080,1 12(2)(a) of the Corporations Act

Asioci- of Ha by *&18 of secton 12(2)(a) of the Corporations Act

As.octibe of HE by vitue of =06on 12(2)(a) of the Corporatims Act

Assoolate of He by *DJo of secaon 1*2)(a) of ele Corporatlons Act

Aseockdo of He by *fue ofiectfon 120)(a) of the Corporations Act

Associl of HE] by*tue of Ieotion 142Xa) of the Corporitions Act

As,odl of HE] by*tue of section 12¢2Xa) of the Corporations Act

Asiodabs of HE] by*tua of secuon 12(2XS) of the Corpor,0ons Act

A,80*te of HE! by *tue ol Notion 12(2)(a) of the Corpormtions Act

APAGE'=0389'341

- A

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COAL OF AFRICA LIMITED

HAOHUA ENERGYINTERNATIONAL (HONG KONG)

RESOURCE CO. LIMITED

1**Im/(*m ) *MA,im

SUBSCRIPTION AGREEMENT

illatt**L

THIS IS ANNEXURE B OF 48 PAGES REFFERED TO IN FORM

604( NOTICE OF CHANGE OF INTERESS OF SUBSTANTIAL HOLDER

OF Haohua ENERGY INTERNATIONAL( HONG KONG) RESOURCE CO.,

UM[TED)

Name: Yangrnou Geng

Position: Excecutlve Director

Date: 17/11/2014

11

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DATED U I|

COAL OF Al=FaCA L=IlED.9/.1"ZIHI.

and-

HIO#liA Elmilmv lallnliAllall&010$KOI)Resounce Ca Lasm)

A*."El# C.*1 1,1*11

SU....FRONAW..88./IMRm»*t

2014

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iliHi

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-6-6

-01• 

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(2)

(A)

n.A ==ple made on

*Iblirlil M F**·f-2014*

pAETS

(1)

*S

2014

Coal d AM= Unled ABN 98 008 906 388 4 Sun, 8,7 The E®lanade, MtMism,1 Wee m Aus¥012 6153, Almirmin (toALT); and

111#1*t**MI*,4, 81*ill**998 008 906 388. 1*1*11*kN*#10#k#liJAJ,inre*#**1*840#MNI7-89*18, .*6153 (Mar*,10&*1

Haohi= aim Iliiillod Olong glo) Relocimi 00. Unllid BRN.1692172, a compily #worpocaled Irl Hong Konp and v,hoae regldered omce 18 08Room 29024 20 CNMa Re,ourcd Building, 28 Harbour Rosi, Hong KongCHeri

58*21¢Cliti(*18}*RE*nl . --*018#la#kmm*,4. BUIMPr*j*.21*11' allMi11269*,Mok,f<94*2UMA?K (1 511*[1,01

BACK 104»/0

(B)

HEI currently hdds 247,417,579 Slwas In CoAL« h th, form of DepositaryInten..6&**IN# H 111**M#ilk!*#R*) 47,417,579R.

CoAL la proposing to indectake a plachN of new Shares k, ce:fain eddelhgShereholders and new hives:In (the 'Mict,Wl altha Placlng Prica of 5.6 per;oeper Shin.

*m**11%44**Sl=*81*merAmle*R. JMR#*31**08551$10.C HEl haa agmed to partlcipal. Inthe Pbriv by %1.,gibing for 215,000,000 Shlea

in h¥o ziparale tranches of 94000,000 Sharee and 117,004000 Bbinsr.,fieoth*, I n each Die at the relevan* Plmoing Ptice per Share, sub]Id le *10sati aodon 01 cenekl oondIUorts and othin,ls. on the terms M out h, thisaoreement Nididhg me Plaoblg-Terms and Cmations).

**Jit**UlN:42**#ANM*%**(1**LUR**«Imm 18**F, 8&41111¢)12*4**8114. 2»12***St*IRMIA!'1*1#*1001 215,000,000Et, 1401*> 141*R. m -P*Ru-8, 000, 0001*. m=**tul,/117, 000. 0001.

AOREED TE,1,8.

N**R

1. Interpr*lion

C)

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011.1 068nit1ons

h01* Upome,d:

*11**)*111

T. =QBP' or FI,cr msms. laW*d ciii,wig of the LMod Mgdom;

T and'GBP' ;8*1431089*15£mill,

-Admillion' means Oil adinlision of the Plaole Shams in traling on AIMbecor,*10 81!edk as pr kled In Rudo 6 d the AIM Rul,81

hllf**192*84&11?fRNIRNM;*811¥RE) (211*J@012) *AMilf, 11.*@Ill*A14 kil/*MIS6*0(Jilll(90&,

'Amr meens the AIM 1,12*84 opera* by thi London 8,ock Exclim1g i

AIN#IHA*ID)*NBFOHaAIM)IN*,

'Ami Ruler means the AIM Rulea for Companies pubhhod by the London aookExchange. m #Ine from *11,10lme;

AIM.t11(J#!Mmika<*Se@wiR,81**TH*trovibl¢A]MJ.lilli

-ASIC= nlans the Austrv#an Sicurides & Irwestnerls Commi.ilon;

ASIC#1·01**ilE*8115k0t*Ble

'ASr means ASX LMIed ABN 98 006 624 891 or the securmes e=hangeoperated by Ite al the context re Ikes;

R*Jm!!AS)0#Bl*'11. **NE**998 008 824 691. iRHER, l. F SEfRJUEMTIES*Jill

1111,»Is Der means, unleie the cqr®oxt requbs 00,envile, sny day #,at bankaare OPOn 'orbuslness In Londorts Unltmd K]r or,1, Be*g, PRO and Jolannesbug,Re,i,bic of Sauth Amca:

:r.fltill!1**Dlita. R,#0*Ze.)8811,11411*04111851912*RRAWEM- ·+HII,01EF*MUN#MI#'Clgmnitig Notior has the nlesr*,g given h diuse 8.4;

iM·114*311;4*!814*,19*f·(A**

-CoAL Group" melns CoAL and Its Subskis,les;

*#1*4ka,am*,1**AAT·*¥4,'CoAL Groll Member meane eaoh member 01 ng GpAL Gmip;

***01:Amm*,1,*iMmiE -JAM

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4

teALV  rlittllt meal ele warrailll imtout h Scheclds 1 ;

.*0111£*.f'lled'11821 11:m*,AliE,"Co nvillors' me,Ill M&4 11,64-ac Ang,• Martnc:„7„it (Pty) Lki end TFAI:

94IMANNM&(3, hiv.teo¥frit**IM**41;Ut TMMER*m*,4,

'Co*wi,00/ 84**Ilpeon Ava,menti means 0,8 mabscdp on Igweeme,ls tobier-,d trno on or aboli Ae dta d th  Ue*n,nt bilmimn CoAL and eaoh of0. CMmalk,rs onu.***1 ar*ms 6 miss,eement

1* 1**AUR»12'Alli,El*»IKH»Iliti*,1111*Rill=11,11**111$&*48&,AS--**Mogulth#UE. IM<Ilat***#cALIZ '*,

'Comf,11= Act' meann the Carnps  Ad 2008 (UK);

'*142182006¢12*111*4 (*Li)

"Ca ori'  an, Al F  GJbic,tplk,1 Cordiaor= ard *e Second83b•04*n Coirldo,19

 lb,rmmm· *mu#1*8*m:= R.U.**,.Co,por'Mil" Aep nIM•n. Al'*i c#'rian Corpoignons Act 2001 (Cth):

-*111130!2001 fli {0$**1!*14*h}

93,0 Por mear* the deed pol exeouted by the DepOGItary on 21 Odober 2005

in favour of the holders end pronredive holdn d the D•11-•-ry *ter•,q** andcons:11 r  the Depoe zy ln;Brmts;

Migmilll?trA*91##82]afg#*10,Acittm**fiX244* P·20064010; 21 11*5/*#j#***1?18!/•DIFIMI,fm.,cm Colililer,h b-rServi=s pic;

*1*Amoom *81* e #ivedor Se,vioes plc

9»poill=, Inlr-tr means me ds¤-ter&•load Arp,Inq hi,sreels In re®per*of th, Sh,ve oonotltiited und„ ahd iseued or to be Issued by, the Depo-rypuratiant to Ole Died Poll:

#111«Umm**kil*IM#4*km#f *fi]Ran·19.*1*141'j#15*2

'Dimciols" mlens the dreotors of CoAL from Nne lo tmle;

R$111111*11$,IL"€E"4:

*'meam an Intereet or power

&*AmmA#u FOt£*aa]Ul)3

CM reeen,d kimmor,J:Inteles[In Inyamstor

*fEMNE]*.1--0*MMNI, WE

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(b) *IM oroet•n,4,0 0,1*W h or ovar Iny **t In any , se# In,dl inym"*1# d/rge, plsdge,I,r!,h*checslon, 4/ or W of a.4

lit,41¥. ]Di, 40. mi. m**00,8. RE:*4111*Nn**1*kijacfli/2*EMVEP=mal;

by way d secuty for 11, PU,neil o< a dehlor dlier monetary oblgdon or th,perforrnance of any other oblgaOon;

fl{**#**UUm**411##*3*21[trtERK***Mal#,

*F ' In#„,16 010 KI.:rgin,1 Foreign  veabilent Rowlem Boird;

FF[80!**#41*"1111'#*.*

'FIRB AppileaSon* nla[:,8 HElk appleglon to FIRB for the F RB Approva allub<*ad by or on behd of HEI prior to the date ollhls susernmil

FIRB,11181Nk*IR**PIZA*5**111*#8*0441;l#4*11180*1*0!FIRB"*fl 19*a#FIRB#1209111 Ul

SpiRB Approvar meens tho receipt b, HEI of Ilt,en notice froni tte Treasurerunct,r the Foreign A*,]Wons and Takeovers Acl 1975 (Clh) *W It has nooblection, to HErs zil,*9 011 of the HEI Pled,g Sharee;

FIRB *10118#&4601*0[01*kNS!*UNI,t*fil«:618119754 ¢ (*W) *MOCM;81*Ni,&110 *111'44£4**WIR011.ht*J*1)Rlilf#IM#**MAPOORRSA ·13'DI

-Fht Completion, meins thi eell,ment of the 18,Ue of the Rat &1bso,4*lori

Shar. under-Jse 25cf th..eemSnC

lg-*RU.1*femflt*lOUEJUK Fjff -*RU!.Relt,7*1&,

'FintCon¥lidon D•W meins *e date on## Fint Comple# accumi

,a-IRRUIR*aw-mmts- *RU,#IRRBE#,1:111,

'Fh* Subiorip*on' means 01• sublc:lptbort by HEI for the nut albecriptionShate.,

91:- ·mmlk,0rjal!18&$2¥Ol*m "*tRUIR=*,"Fht Bilhmsipllon Amoimt* means an g,nour* :d to the runber d FIrstSublcilptfl Sha,M mi*Ipled by Ole Pbdm Pricet

1§--mmil**trmm-*aulliteR#*Milellkil<*(*1**#flt'Firat Bubloilption Condltion  means the concitions 10 Flm Subscripdoll setout in clause 12;

95 -IRRU***9&111*14.1122** FNUM#J* *RUN#*i,

'First Sub O14*lon Cl*Of, Detr meuns 23 November 2014, orsuch laber datem CoAL and HEl 99184 bibg not 1-r than the 8econd Sub,014*11 Cut-OffDaie;

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95--·IRRUINSU:8*1 8*014*11 M=81£*,10&**S#*IMEn*04&*11mi, miaj'.i.IN pm-:n,I,u ,m I:}im.

fl* bkienllon Digoillit,ul*49 me n, the [),r,Nary ktore  AbeIssued by me Depoaltsy represer*U the Flmt &*ecriplort Sharee;

15-·1*RUI#int#NRM,Mal,iTA*S *RU! 1*4*1709#1**,

'Mrn Sul»DrIPOon Blwer means thi 98,000,000 mares lo be lasued 10 H£1 atFM Complelon pur,uant b mls U.ement

-s, 1*Rummar*581*C*»tk*;11-*RLU*2,&*,0164$[110*1 0998,000,000=:

9ml Depollity k,Ili,Irmsal the FIrst Btic plon Depoili,y killes:sandthi Sioond &*scr*Con Depotrasy Ir*Bres;*;

.#&*.10#*?aNNAmm-*mu*15"12"mr..mut, ntl NUI,

'HE! Group' meem HEL Belng Haohua Energy Re,0,/C, Co. Limled and al ofth* r*ted entlti=;

*11;[1 *01#188*"M. :R:JK.**0015):#r"*1*OUtlt*0*.th

•ME! MaaN 51*ar rne,M* ihe Flut abc,lp on Shares and the Second54*jialptjai mlesi

.&&*14"*aMME"*99#In-,"tmmr.,*mul®mme,

'Jer me**10 JSE Urnlbed, a conliany regls*red and In por*d In the ReFA,blo*f South Airlca and ncensed agan eocchange under the Seouritle* Se,vice,Act, 36

JSEMJSE<im*111, -**16'11#40,tlERit.* 111**tiES,*lk (2006*m889) *4*flf'KED*#ma*.**1,-JBEList,Utrmear, the latir* rec,iremerts of JSE;

JSE EllfiE]R, 11WSEf!41:iii*.,R,

9.lu/lg Rulet mean& the Usthg Rules of ASX;

Ellf*.fl?**0ilimjll.

'London mook Exch=Wr ine=ls London Sbock BIoharUe pic;

leal#*,Im#mai»*um*-m*,491&(r meons MaG Aesnent Mana@ement Uml»*

MaG#Mae&*1.8*W*141&80:Ing- means the meetr  of Shareholders lo be convened and held for beplspose Of considertm the Shsreholder ResoR*ni

*12*11!ER**UUM*IN-f{JFMR***t

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98011- of INGEN' m Ma the noUM dvln by CoAL k, Slunlioldere of UmMI *U and h,<ducies 0- Mi,am memo,and  and Il oO= doagner  lobe eeriouttolhe S rehold,I h resped of 810 MI-o;

*urm,ilm*Vt,&*,IR*flillim*REINI. fi*ilm#15*81*t*41 i.ELAR]Ii*821#jujt*:

9:licalg' h= *10 mesning olven &1 par,9,0,h ®) of the Background =clon

£0*1118,111:*'111 (B) mASK,

•Pl ng Prlog' nlean• he US dols eobaleot of 515 pence per Sh,8 011 thebuu of the GBP-US$ mk**t m,Tenoy spot =0118:ige rato pubish,d bymoornberg id 17:00 (London thne) on (1) In th, cals d the First Subectip/2),1Sher•s, 919 Bullkiess Day bmled * prio dhng the First CompleSen Da , and (2)hn the  1 4 the Seoorid Subeoliption Shites, the, Ek,/liels Day *nmidlaialypreoeclle Ola Second Complidon Dsts;

901141*16'*immltaloornbergnift*HRI 1,4--5&**81*0,/44)&,1,Mel[*il#111* f*6811**id#*, 1[*IMEH/H)*N (1) *1,[ -*Ril!0Jlt#k, W0 -·»Rtu&%,RNS -+Lfliti, (2) SUB:IN RUARS, 810-tl**14*1*REW 0-+Ir.flill.9,laclll Shalvt meana Ihi nsv, Shares ta be miuad pummnt lo the Placing;

alf!#Et#*1!18!zieS**04*iRS,

931#4 Te,ma md Conations' means the Mrms and concilons 01 the NUUwhich G,e attached to thl,  eemint asScfu  21

810#*RAMAI14#*R, li&**Rga*,

PRC' means the People's Repalc of Ch*ia;

PROI!1'11*AUSJO*1MI

*RC Approvale' meaw:

1,"1414*"£m(a) IN revlew by the Bel,0 PAsticipmi Commiselon of Demiopment and

Worm folowed bypr-nhia:y mcal,mislan by N onal Oevelopmerit indReform Commission:

**It*[li,RJ,d*11*15*ae,)117*78111*Rja*10[*#IM***1*MJEV¥14*10,

(b) approval by or record flhg with the folow*,g al ortlee:

#kill Fll'R**1£1111**

(1) 8*10 M,/11*el Co nission d Development and Rdorm;

1:*11/121*11***01*,

® Bel# 6*s®4* Commis,lon of Comme,ce; ard

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It#ily.**M*:

00 8/"Hy..d A.- aJp.9 ion Ind  a*1*a®n Col"'.knd the People'• (D •romen  of 8,161 MUN®*y;

J1116[ilf.*VEral*N/*Me

'Second Cenlplillon' meaM the 88#*nd of Ihe iqlui of the S=*indSubso, on ShRr s under oleusaS.40! tN, *eemert

987.1RRIU,1*Iifidal* *»UZZ&4*Al FS: :R¥Ral#10**f/Unk,A:

'Second Complition Dmr me„Mlhe dde on which Second C,npletion occurs;

10%*mu,j*jaH mr;Am#i=:maiu xuERkimi

-Seoond &*Ic,lption- me,ns the st*ec:lptch by HEl for tho SecondSha#don Shmes;

1-:,RU]Orm#514,111*LUmS -:8¥RU,IRS:

 8•00*4 84<4*m k=Mi mite m Imug -,#/ mthe ru,®,0Second Subsoriplon Shlfee mldlp@ed by Ihl Plechg Plice;

·mi :*Rlull**'11'98-.'*mulliltia.lklifilcil,31118'15,

Vioond Bubloilption Cond,lon' memi. the condtion v Seoond SteoripllonI« out h clause 32(b);

98=*RUIR**94"3*"MZgKLaby"'Sk#J**:

'8 Con,1 Eprab//0/1*1tion Cul4ff Dati' fneans tt,/ earlier of (1) the date %%1*11 lethr•l BU,iness Days belore me d* which 10 #ne mon:ha gtter the dat, of theMeeti,u and (2) 24 Dacember 2014;

98:.iRRIA)0#11.1·1 »MI,(1 )* Wl il,FZ f I *Gllii+M IN)31+.12flil] 81(2)2014*12;424Hz:*111*449£11*,

14,cond **00,*4.1 Dipos#,9 *lil,IW m.in, Un DWoeitaO Inti,1,19 tobe iseued by the Depo•it y repr-rAN the Second SllbecripOon Shame;

Im=.*iltill"iiMpli.".All,111:#,4.8,61$='.19/le'Ull,"90/*f/ 191 11/4KM,

94/cond Sub/c:*tion Shmer me*, the 117,000,000 @wes to be laued 10HEI at Second CompleOon BE=Ent 10 IN@ 00,1»rt

11[: :IRU!01,0,hilltmla**wram. :*RU*%1*11-16!WI;MieR,981117.000. 0001 i

W=*Ilder R-•Ition  mems the rn#***vi ofthe Sharet¥*6*6 B be r=midIn order b •Fprovd thi Plachlg for the purps- of Uating Rule 7.1;

mt#*trAm*R?Mil**1*2 i.1101[167.1*ill*iltikllktn#2*Ul,

Wmeans INs Wdels al Sh,fes or s,yof them ae Ae cale rec,*es;

Zt*111*10]R10*04*6)/'11At

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g

'Sh•,Ir m.91, fuly p#Jd 2/,aty s  res h #IM capl of CoAL;

litellt*'1 ARE*418 1-ud""1*"878'*:11*»k-y' hi the meoling glv- 41 the Companiss Aot

f*HA**14&kill*12#1**/9lar means TMAA Hol,F (Pty) Ud;

*T}Armilmal*1!8*Nifbid:

Wmalnr meana the ™amser of the Commor,m=Ith of Australa; and

**Mill!****10U11*!*.1C

·uar or "US dollarr meelle the la,¥ful cLNrency of the Unned States of Amerloe.

-Mjeum)&1,1*1*lk*,D.1.2 ConistucSOn

Unle. e*pressed b th•cor*a,y.   thls Weement

I* 1730UE. ffIll***,

(4 woxigin#le*0* include EhipanJ and vk» plwila:

41*|UUHZ**£R, R26#81

(b) any gender h*,des the *her g„Ide,g;

EN*!N·tu.J(*it!11,

{c) H a wod or phrase li delhed b other Bnund# fonns havecorre.pon*g meanhlgE

kim-+9(18]all/ 1821, **flft *fklib//164#«1*8-X,

(d) 9nokidli' meaM hicludee  ,*hout Immailon;

808911"*11114<**N",

(e) no rule d con*1,061 91 apply 10 a,90188 k, the ct=*ar®OA of a partyntelily bicilii mat pity pdlogivird theolaule or wota othenvlmebenem from lt; and

*EMIR*NO[DEW)9--*41&111*1&*4*2 1-1***aliN,11*4*-li,H:M

0 a referince 10:

*mel Fl**,

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a p.mon Ad„* ap•,19,0* Bht v=ilip, ta.,poi.<:imililion, comorami) and a govinmInt or st*uio,y body or

Am#*ik, *li**. **74$1848*. *1, 41#*1*ft*Ue12.MMI

(M) · person M,Mies theperson'B legalp='Uoml reproser,ta h,#,coeiv,Im, aggigng ard pergo- muhz* by non«on;

All#.11&81 1:f*&12<UEk, 1$&10*, 5211.A*11*NiSM,MitA,

(® 99 1,0111*ion holul- 811=** leglalgion uwbr n a i61*des hatlog lon Ondsuboid - liglillion al rno ned orreplaO84;

*M**m#*1101*.12, 011#il#*tham**amBilE**10it**,

(M arigbt 6 ok*lesabensm, Ine*, c c, norpo-;

1*talln#1£41*Im, **RIT-X*li#*BENIIA:*111

01 eh or =,y other document Inokid= the doclanet* = novaied,varied or riplac•d md d=pl* any dmnge h th,Iden#ty of meParties

***1£161&1*AMIR**liES, *triftft*fl, 41***FiEE#*151****it:

M wrRino 1,10111<IM any mode of repree=* orisprod,BIW walntangmle and pem en* vlibl lorm, and *di fu

-1511{11MBM/*44#/gwr A)0]&jil*Wri/nm**Ssq, 11/HOK,

M Ns agieement Inolutles al unal= md a,1, 01(11:res v lE v miextent expressly [noorpot-d by thi temls d this Meement: and

*1#*{1*11&91*42*8* P·*BULA*%*1**1*4118*, 41/t,

(vil) a 891194 gohedib or annman Is a teference to a ditkie, Scheckileor @Ane,are, as the CS- Inly be. d this agreement

*10 *1*01*fit***818***'*2. mft-*mil

M) If the dab on or by which any act must be done undar thisaoreement Is not a Busitiess Day, me aot must be done ort ot by thenext Ek.Biess Day; and

019&*01*Sc#*-IEIZII#**IRJA*191,11]AA#*12fl1l:I,*Wlf,Al*·r*+Illf'!HZ#*JA. 1;Ut,

(x) where tine !* bo be cdcult»d by reterencs 20 4 day or event, lh atdiy or the day of tit event 18 8*okcled.

10

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(8)

(C)

**81)£+11*1 6+1*nit#*Di. Imt,mt*HJMMEI*1!1**4:fRUM

2. Firs: AMmlption

S-*Rum

2.1 FIret ategrlpion Swni

25 -maluilmeOn aid mibild 1D thi *m, of th  0,0,1,0,11. lick#E ng the Placing Temls midCardmdl:

MIS,*1#,IR***t, 11*,ble**s

HEI *grees to MA,0,1» ler the RK Subeo¢lptlon Shares for ele FhtSubscripuon Amount: and

68*J*80*1*elm *RK.*SUIRS-*0&1URES;

(b) CoAL ques to legue *te Fb·st Sii,Gollptio, Shares lo HEl fr= frotn astyEnainbranoes.

*11#4*)42*13241€EM®MA*[89*AL FAN*DIRAR#* -1*RUI®.e

22 Fir,1 Sub//4 00* Concm,ons

-*RK»/Ht

11» obl tiorm 01 Ha lo subicri» for Ae First Subecrld* Shaies gAd theablganons of COAL lo bgue Ole Rst Subscr* on Shar- under thli sereerner¢are conallond upon:

**DI'lic"01:--",111,1,12#841*81*M***481§-1*RIA)'U:44.18 Ul'Ji Flf!09*#11*VA 

HEl receM, FIRB Apprmal;

AFCM*(dER#FIRBIP*:

HE! receMng IS relevant PRC Approvals;

H*01102***1111'IllPill'*;

MaG rec,Mng conl malan from me Tresms, under me ForeignAcqtleiton, end Tdisovsre Act 1975 (Cth) that It has no 04,clon lo theacqulsidon by M&G of Us Plac g Shares; and

MaG#!Zak)M**11**411*1,2**(1975) «0111¢1*10**RAN"Gallmlf!*St#M*U:

{d) Shareholder approval lor be Ismie of the Pladig Shares iorU. pu,poessof [-Ist  Rule 7.1.

A#MLIUVNONS7.1*r R]KIMINBR#Mlter

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2.3 Best endeawurs lo *amly Fht Ek,bic,iplon Concilons

m11**,fillkim--*alk*8**Cs) HEI,hml Ile b bi,t end,Iivail, ben,1. U-Iths Cor,ations h clin,Ies

12(/* Illf (:)ill' lidill'li as il':Il 'IL rill//11:1:'b, r'/3/Imillill" Bndshal:1014 CoAL h ***U laoon as po le (a* A wiy e rd IRWn NoBu,drii- Days) dtar eaoh such Concntion h=been salsil,d. CoAL mustco perate indact In good fale, ty*arN HEl h obt,inhlg sail,/ac*oil of theConcllions h chais„ 2.2(a) and (b) and keep HEQ buormod d anyc.,Ulmigimic= ilthma,resulth an,suohConcmon not bel satianedbl mrdance with Its tbrms or In such 8*08<ac*loh being delayid.

**14##IRJ#All<*JJ, 1£*imuffi:09% 86 Flaw#001Ji2.2 Ca) 4112.2(b)FRN*, *di*«11'*tal,JAJ#tlt-1;1,iNNI*#11**00£MIN 1,-Mt1:*bl la,4 ) • *mIN*J;1910*11110*Nk#&*1 *JR*R, 111*11Il*4121**111&111[tufarcl:ANn,WN, *btli**1&*4114$t

(b) GaAL shal ule ils bast endeavoin memure #=i the Cod# In olm,Ii2.2(d) ]R  lifled- soon es remor bly pr dable. HEl mibnoiniand 04 61 good talth bwards COAL In Ubl:Ir*lg Rai ac#on of theConc*on h clause 12(d) and keep CoAL Irdormed of my Ohvullanceswl ch may read h Wth Cc**ilon ni be4 =1144 in aocorde„co n#Its temu or b, such satisfoodon ba  dele,ed.

-*#1**A*05*, &*al,re®m& F**/**18£2.2 (d) 1141£18*: Zd*NWZLIR#1*11{J#*148&®ill*£*52®lf#, *1*[Ifmltfl:.##,11lk*MIR)ir"71:igN#H/8&, *AH-Ji*81*Oil,i,

2.4 Notice of Batl*cOon of Fht Subemip[Ion Concltions

15 ·*,RUIMI**IJamilmi

CoAL *I gin *im notice of the =1191=vi,Yl of the Fht #®®cilpOon Gor¥,Iblto Ha m icon aW reaiontly praoticable anir the last of the Fht SubeollptionConc*lons hae been salsild

*H**1**M**,b)***m *RU]01**892*3 -am**$31*kt*115*1**18**11*0.

2.5 Arst Compl"kn

8.-*IR"3.11,8

(*) First Completion wl taiN place on thedute which ls #ne Bushless Daysanar the d e an %%¢Vot, CoAL notifies HS pursuant to clause 2.4 that theArst albeor orr ConcIOons have al bean BRIWed.

31%-mIRU!111*IRM **011#ll*mEZZ4*'5@!1%16&*rlilii:JA:AUJI#**91;&2-Jitim=+I*Him.

(b) At Fht Completion' HEI must pey the F:st Sublcr11*n Amountlo CoAL hknme*lely avalable i,id clesed finds by electraille transler Into a bedacooll* notilled to HEE! by CoAL at leed hm B *lees Ds,8 before R»proposid First Completion Dals.

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*S-*1/1418*,Re, 56*11(R#/5//IM"AUU,J* UU]t**#. #jaitill940«EN*HIN*111*091#171&.1':. m;*118'**E* J:*l]25* RH:2.1,12+./*,1/2/

(o) M Fbst C inpl•lio,1, CoALeh•110!··-IRRM*%*, :11 110&*St,

(1) Ismie to the D,posita,y the Fht Subet,1pdon Sh,res (» hold onbehaV of HED free from al  unbrances on the be* that they=*4*hal =F* v* Shar= on hue on the FhtCoinpledon D-t

041;frAR1711€E,¢R«Malm&$*[1001! -mmullim (fUM*011101*lfr) , R#PIR#Im-*RUJRDEJAH#1 **,IESS*liaR.1*111;1

Inlereets to H El;

m>:24*ARAilt'11*Res -mal/*?learnt

(11) Inskuct IB s,ghli m lo ente¢ 018 TMMHe an  al le,8 of HEI In ther,gl,# of Depository Interest holden h reipect of the Fht8ube*Oon Deposnnry Ineerest< and

1!1#20*RABISA#;010*84**,Allti:#Emt,1- -11¥RIA!,Rleaa*ties,81 al*18*

Ov) Inst,·uct h registrars to ls,im a 1101¢ ng statisment k, HEE] wflighev ences the regletr on of the First Subeorlption Deposit*y1*18013 kl HErs name

8,2*11,049&*11,1*18kE¥1, ImMS-*Rofta*Utew01*rs'*i/*11:B:JI!,

& Bacm# D*//INn

=Hum

8.1 Secorid'SubetrtpOoi  Shilir6h

m::1*mums#On and m*lict Zo the ticul ol thle eereem•n  inok*Ir  thi Placim Ta Ind

m.*#tu,12**. ams***imn,(a) HEI Ignee lo subacrbe for the Second St*ec:*Mon Shares for the

Second SbuipUon Amolr*d

m*//1*1",mels-Re.0/6/"U*//1410/18=*Ru!01*0+

(b) CoALagrie, b Issue the S®cond SubeollpOon Shares b H El free florn 90Encumbre,boes.

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*01#Aill:*£1£«13,4(*8184mN FAmil#MIRRfriB-:*RUIRR

3.2 ConclioN to Second Subscr10ion

1%--:IRR U'*ft-The oblgadions d HEI to sub,Crbe tor he Second &*),cripuon Shates and theoblgaionsof CoAL,0 *suithe Seconddubscrtdon Shege'underth/*eff,Inam conaional upon:

At*BurS **0{*U)0/311.1,#mul=*09 **81*981£*Rills:*Rum**84**#91*fl:&,

(a) First Cofnplition havh  taksn pite; Ind

m --R¥RU**IRLl'*Mul,Jn[4110/41, 11

(b) eith=' (1) ™M halhg Obtalned Sumdeti fulds b purchas' the189,000,000 PhM•4: Shama:or %¥hich k has agmed to Ilt»012* In theseoond Midu d 0* Plach  under lis 00*tvoetor SubeorlptionN,eemint (the lail Sldood Subioription Shere,% or (2) CoALhleng buid a s*-11, hell or himm v #bah for Ihe TIdM8eoond Sub-4*lon Shares. and Iah such hyveelor having*ksred heo asubsortplon *eemort with CoAL h rempict d sorne or al of the 17*4Second Sublorlption Shares ort Bubstantialy sh'nlar t,rms tb UillIgie,Ine,14 p,ovid,d ** 11 the cile d 0* a parUal ateo,100011 fot #19™M Second Subeo*60,1 Shares by any Sub lum hivestr or hvestors,whon takerl mobther Wel an m**r*tions by HEE[ and the Co*,vamit,slorPlacN Shs= 61 Second Complalon. HE! wl notbe h breaoh d Chapes6 of the Corporailona Act

(1)™MaN)£¥09**10,*AE,4,(&*Aik*#»R*rl* PS-:11)*811511'U*10*189,000,000RRIDE# (191#TM.MNS=IRRUNJIBY) , 148(2)*,1#&*U*HUIT--45]***1011**AU#ITMMMInIRRU)*im8, *R"*IRVEAUU,81*RUE*:1*14*SK**«1) 84***nedtr.matiURIS#8911***IN-*TUIRIDUL 81***mlillaH,ItalARM*UIRTISE.*RUIRRS, 4*0*:4*[fli,kliBZ**122$56*84*S.

31 Noke d satmacth d 8800% S_¢»*tion C -dilon

*Xemr.IRRIURI*Ool*NaCoAL wl 918 #lian notice of *,e  il,fa vion d the Second atbsotipttortCorrillcn lo HEI as soon m reasonably practicable after being nomed by ™Mthai the Second Sl®6014*ion CondOon has been eat Med.

™Miall*li"*ARALMEW'wder.*RtURS#P)*i, 11"0£**#6*Pl***13/5tk-14MJENIA*INNA.

3.4 Second Completion

2/11*Rlk)MmSJR

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(" moond CM*le-W.W.*- onthe..#0111,1hres But le Diys after ths1-r of (1) the 8- on wtlich CoAL names HEl pur=Int 16cim»61 2,8 *21 * First Subec,#Uon Con ons have al been *Med.ar,4 (p) thed- on whlch CoAL notmee HEI pursuart b clause 3.3 *02118Se(xrd &®=190*01 oci#Jon has be® saOdlecL

15.:1*RLUPBUREW FEIRM»14#RIS.+1:fl;11 cl) *,10£*#imm2.419Ial**IN'1 18-*RUIR**,9&*IR#411)Ul, (2) *,1*kal*10¤18.8*mINdq#IRS.IRRW,**JAM,kl*HNI.

(b) If CoAL notli- HEI plnuant 10·elaule 33 th,f the Second 54]bac:lptionCcr on has been sal,Aed bdial 10 d Ihe Fl,{ S hal*Im Oor rihave been aai ted, Second Ccmplekn shal take pllce al,*itsneajf41* FIM Complenon end t!12 Secbrid Cornpl*on Dalashal be he dals onwlk# FhtCompldon occurs.

Nim-,51*lk#IES8.8*EMIN*1418*KNfRU***J,l ]:m *mumm#*12, 0*10 :P#Rumlits -*RIUN)(9**1.. ilt :F#RuIRISm-*RUIMISE*.

(c) At Socond Comple60¢  HEI mul! pay the Second Subeorlption Nnount to00AL in hoecl•!sly avalable  4 cie®  hmds byeledionleMider Iftoa benk accourd natifledto HEI by CoAL *fleast t*o Ektainess Day, beforethe propolied Second Completion DiA

85*1.:8¥Rlk*;*1&*i, 5 4&01***IR LUR*HUUM#*N. #*ht!11rm#*11¤0&*11!RRINuip. mwlt,1*62, 11.raillimp+

(d) At Second Completion, CoAL shel:

Mier.»mt#. 2-0, IM#&*Ws

(1) 1=ue 10 1he Depoilmiylhe Second Subacrlplon Sharel 00 hoki oribehali of HEI) ffee from all Enoumb,M,ides on thi basis th*t th,yIl ecvely h d re,pel v,Rh Sharem on Igue on *0 SecdndCompl/kn Dal<

IN*t¥A*19*ffEM4%42*111n4#difill#11!-=-mmiA)*iRS) (481*11#St*Ff ) , *11*Re,Imnmalkm*JAH*,48*RSS*N/44.M,11,1

(19 ins,uot. Depoeltaryv1-eme Second Sub=Iplon DepositilyIr rests k, HEI;

m#GIAQ&8*[NNR,MS:=mit#AIR#5aa,

(11) In*u  its registre,8 to entir the name and ack*es: of HEI In there*$•r of Deposhry Interest holdel, In respect of the SecondSubeociplk.1 DepoGItuy lini<Bets; and

111*46:jeARS**Cl'*8944*4'.Uillk#11'im: :I'litil'Ail'*1102*EN#*IR**tal

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M *lucE Ibrigi.lails lo leahol  st/8,11.,t leiG,%*Vah0,idences the regiatath 01 lh* Second Ek*Ic*tion Deposhry4-Ihin.m4

N!*82*81*45&*01#2111 01, Iin,6.-:**,011#lt**LliULM*niwl**Ek"

Non.IuN:mil.4 Conciallon,

*RRU***(a) If ary of the Fht Sub,ortption Cooollons h.ve not been hinled by fie First

Subeor lon Cut-Olf D- or CaL notiles HEI thst any d Oil AMt8 bc,ipMon Conelions wil not be able lo be ful,mod pru lo Be Ret&*0114.bn CuFOI! Dal (and prov Bd th  <flid h= not beenterminated earler by HE] purguartio clm= 10.1 ), this Breement and al#016 4 -ch of the* lind,r R shal .mh-*m,-efl#* ind onsuch lam*laSon cli•8 101 *al,oply.

MINWME·.5-IRRU)01*fl'*1,-Nt"Emll:Ll»18*im".8, *81*11&***14&11&#830 -IRRail:L,2.Rk"')811 ·mRtU,Jit# (81*£11 BY?;1*0*Bt*1*EllO.11**lialm*IMLY . 11!1*»tellk, J **1*1*IiFfAK*,MILLAm, 10.2*RHZ*flilltill.

(b) H *le Seoond Sub,crip  Cor*160 1 hu not b-1 lum,4 by *10 SecondSl®iorlption Ck*ON Date or CoAL nodes HEI #wt the Second54*IM,14on Cod# d na be ibl tn be lumed pdor to lie Secxxid&*lor*Oon Q*M D- (and pro ded #ils goregii,ent h= not beentemiln*d eath by HEl  suart to c me 10.1), t# aorlerner* and /obl,Mor, of exb of 1/ parles utw k *i #mh e w h hl,neN*** andon such *nllinaUor, d.// 10,2 shall epply,

*1*%211*.RUI,/**0381=*Rati:HJI]0,2**il. £*H#£*11%1514.*RE'llmR.*UZ,UN:11£11-LIRRU!0,8%*· (,220"*1*88***10,1*01*IMN[*lk> , Mi@11*Mil:. 1 77***Ii FMX*8/Z#*m, 10.2**182**11;MI.

CoAVI #Allon,Flor10 Sloond Comple«on

S=*RU»***Nt**8 1*6.1 Untl the -Ser Of (1) 8800* Conlpletion, or (2) 11 this agreement hrrnlrutse

plniant lo clause 4 dria termitaled by HEI pur=mritto d=£se 10, 01® cb- onwte Buch lern*i,Non takes efleot. CoAL shall not unless Ha othendse agreesh wrting:

1£1)16:--MR-LUN*IRH. *2)-*l#XfR*1%48%0*11:*13*ril,%8lmm10*89&*141kZH #44**Mmull, 42*61$11(1 151,1£12, ****01:m,

(a) convertany of IM Sharee #110 a larger or emaler number of Sharms:

4*J/fE*R*H#lt)%111[**111+Rklam#

[b) re,ok to rechice h Share oapital h any way;

128*Itt *14**.*1*

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(o) Ilibir /110 /1 //1/.bildi i//7/emert or rilloilt' leappro,4, 'Al' 18,1/il 8f *burbick Ign/,7/Il Lnd•r 'ub//cion 257CM) or 257D(1) of 816Corpol-ons Act; or

IR**14***2570(1) 22570(1)-W. trtl).411;lifitattlk,Zlt@1*10/lbUll*R, lit

(d) *I, and muK en,Lv, that no CoAL Group Member agies, to bevioundup: *Adal or  ,red hlo vokmliy adrnin ,don or i,Ialver*¥.

)4208*, *,Le*Ilyl'22*;25144*"*010(

5.2 CoAL d nomy HS as soon * remona* po.1,18 N ar  d ths 00-lin.elof8ub,44.4-m,-  m*•* aulomhtor areterd..#0. r eventCo-l,Neitor p lor to Second Complilobi

*1*HE-04,11*t,fAMB=.»litUIPAE,RM#41,0 11:04,1*tl[Atk!*il#ki#1*14Util#*111, *Ill#&*#Dialk*flur*¥*11*13&4&[NE#,

6. Reguhl ly *provill

n.*mGl HEKs obaganorts

NiptIWIS

Wnhout  ImB *19 genoca*y of dmi, 2.*a) He ohal:

*4<»12.3(a) mBil,lit.SJAMINMS#U F:

(Q Mh meped 10 #al*U the rel,v# PRO App,ovel:

* P WE#Ilili ll14ktrilt

(D Ipply in athnely mllwier for al r,levant PRC Ap,nva  and #*all •Ipok il rsepon,li for =potof Ule Ivproval proc,ss,** pon*g to r«vel for Wormaion at the BarieetpraoBoabl® *Ii

JUNjaillill#**Ideng#LIal#,1,81, *81111#tktm'11**-··W*amil, '&****am**#418&, Vlk

(1) not v#thdrmv any apptioaMons fac any relevanl PRC Appr mbv*oll CoALY pdor v,ralm conid;

***,IUM**SAHSNInt, ,14*#mil,EM:1111(ai#q,MA911,Mt

01) reepondp,¤nlp¢ly *id Myto Ity recpest or que,Oon raceh,ed #omany PRC govlnlmental agency h connection wih any PRCApplovk

UN€EM,lime*#!trilt:**Agl'El*#*l**11£8#flm]RS*,It**""Rillfi

M provide such evidence * CoAL as CoAL reasonably requlree of me84bnt„10,1 of the applodon of each of 0,9 PRC Approvals, for

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e=rnple, Ihe notki of , 0*t of li *plion by *10 *v,4PAO,•04*o,ybody;

04*MAL*lummt**11,0121#21**U*T !1{ f*9£*1, Mill, 411*1,!qlm,nli,jimelijallie,

M no ,CoALaseoon=r, 011®#pr®Eloablp=*hmgc=ei.hlar 1tm 1 v n h¥o Bille,8 Dill Ular rlce*  of eash relevaintPRO ApprovA ond p di CoAL dih such evid.noe I Rrea= bly ,=1*= thith• PFIC ApproVals hai beell oblined:

*.*31"R*11!NA@*181<IR P«064*'111114*faIREJam+I[*U*311*#1*IL *14*N**BAObA*11**09,tl#AdER#411"11'Mt®,8

(vI) promplly notify CoAL of a la urs lo obtstn NW of the r,Imnt PRCApprovals or of any factor ·' . .' ' %%40&11 reeults ki the PRC

N/m*ba, urlab/0 to bo obtakied; and

***01*41 !*m *11 *1111 *10[MaR]%*Nuarl, [111*11'&luk.UUM"Bla"*BM*Im.**SILE, *K

(b) Mth respect lo obtadnhg FIRB Approal:

*JjFIRBilfa

(1) not *41hc,aw the FIFIE; Applo on %¥1 out CoAL's prior v,ritten

*82*Mi**$1115*,124©1»*IMFIRB**111 0,

(1) reepor  promptly andfuly loany requistor quoilon reoeived fromthe Tr•-,er'or ARB 4 00<Inetion vith the FIRB Af,de,„On;

**10["**AR!32*FIRBillin**89"MI/**A"*Ejant

111 MME,

80 conal ih CoAL in relaill lo iny m* d,v*pmenti h00,yisol on with the ARB Apploaam;

Btl FIRBillill**flill*lagi**1*Mj&1*,

M a,nduCoALm,oon asprn o#andlnm,yoasenolaber*Int*o Ekilrieis Days der reglpt ers=*ig (* th, ola maybe),coples d al n,atil,ill ,„itten con-poi,NliM wid w„viwdcutlocirec•lv»d fmrn or lent to thi Treasurer or FIRB in connection wletthe FIRB Apploglon; and

120(10*£1 r·Nt]*St£*FiRB)£04;6*JakiFIRB!11*#*]R#ElltIU? 118:,+IfIEHA¢1®81#Mkle#&1**[t**8**f'911!*i

the next Bueiness Day aner belrg notmad that FIRB Approval wlbe gr:ntad, and provide CoAL WMIn ona Bu,Iness Day 01 receiptfrom FIRB a copy of thi,%9Rtan FIRB Approv,1

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8.2 COAL-'s oblgaOons

*"11&31!Als

*e[*11*IF mall,#111,i#*#AAMIR·1 +Ifl20 31311*0111&*, *tl.*«NFIFIB*lan· .+Il:fltHPI04*011*311!*HRFIRBilt?ang,11*.

CoAL 8:.1 pmpwi and provide to HB such irdorr lon regar*W CoAL  d anyother CoAL Group Memb r as HE! requirel lo en®le R to oornply ¥Ah Itaoblbalo,< inder *im &1 as loon al il malonay praodaille Aer It lirec,Jest,d by HEL

-·fl5&31'01/*Ailtill*/kj/j&01*1/3*£/2/&111**81/al,MI*#15#@*R, *010&*AtJWIENIERM *Alk.42*M[,117-fRS!8, F/*1*19#.

7 Mailing

*R7.1 CoALA ob alog.

4**31!04**Wmiout Ihilling *le generah of el=»e 2.3(b), COAL sheR:

48,+RBz30')*#1*jjmu F, *,1,**60*

of matemerls made b It by each of b Direclon) *tat C ALY boerd ofm/nu#**im•! 8 ho ,SlmpOrt the hue of1= Placing Shares Onokting the Ha PlacliUShams) and vole fn favourofthe Shareholdir Reeok#en;

0*s#*&*R./0 GA f·***0#11 8 BA) *"118$1/*Ils*--=04=*]ax**217*EK{118**#&*tu"Re)*-HE Witialt**

(b) prodde drite d the doo,Kner*810 be Bentb VI Shallholdere lil reepeot 01Ole M*et g ft ASX for 618 plspo/e of AED¢app,0*4, (or not 04@c ng to)thoie docurterrts In *Mordance dth the Lig*19 Rild slid lin vah ASXv#regarl totho••doa.ner*

%1*SEINNOWRAN*$**fi* i·*U(843<*¥*, UM**IN**1.tlli,1NITICTUR*2&1HUS (4*ki*) 1*01*, *-4**1*at 198*#J&17

(c) procure 0,01 a me•t g of th• board of chclors of CoAL la convened toapprove the desp*h to the Shereholden of tie Nodoe of Mes¢bU;

.*R,f*NiMiking*n.Rit**ilt*"immi

(d) take d necoe,Bary *0 b comene * Meellng h compH,ulce Nth theCorporatiorw Act ASIC Remimoly Guk* Uie Uslhg Fdes *ld CoAL'sconilltution and oonald,r 91 ma: Mee  e» Shar holdi Resolularit Ind

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'1,#Im--WIG?#***INFIlli#TIVIV*NVS#1111,111:1I#1875*m)0?HOU4*u*m-11+Ili*1#INIM*r*-4025@fn¥f*stlrule¥1#14*·CEPJI?@01*)M***4«=gE[WHI/AW*11%.fliM<)155'FYIN$11*WNI»GLE

4JGpJOUl40Ual-UpyJO#UOPOudI0441laUORS'lluoouleamllo,(El400;8Oopuriel#Aqpillbaleqhuin*44#40,1,00Ouopeqo:elnoodJoopplmGeel40nopAed'20.eurloop40ngpG no@*D*S IPplt@plm430618•46*Ullq;Ul4on.le*Idm'0;smoulgplleglqlullm,S:lesrl'emiecbcelt# 8111828111,J1¥00'(eqAm,1./10841..)..0UO'}el 00puooesel#pUBIKIuoveld[1100»UeqJe 9*80888*118,1806114uvi#*eloupua'elq*omaidIuooily

815,11-[Miv*

"IvuoUOIUMulpv58

·ilillaull,8#66,Kilr*mily**6,18*b*46*ms"*95[UM,KI'li'"10*iki#**IKI*"41**,A'**"

-4Amasod,O13HNBA•!8 el#40EP!04*01•Jop!0411@Jew]Am:ISOCIK]10Jell IJell;Oquipe,ellefk,eqell,OUEll€*99200BH7181188*40Jepullelse,mulArgeodeaIEIHPel=14089UO

m*r,UY*#UN'*#4*Sm**»PIOH:88»lulArgeodea-131110.00*8&1

Sulalld§%00;Im'»'B :IM'8

UN·*Milintl,9/1 1,011 *M-4/1,93¥*ISMI]*10*M,1*12**am**M**¥*9:14¥673YM¥*110*C

7¥00Aqpel@enbal1411JGV,8!qgonoildAiq»imeni9196uoasSUWLeengpJgpl01suos•Olqoql *idluooO;11elqsueO;98* eJ-rvoo=droe13H®41pu:BH4*alUORBUUO,9lion,790001#aldpimamdid1,4013H

**1411$**1O080OqO8,BHTL

(NII! ¥**'EM#09*41*)%18)**9**V*1*In"06)101gl*ls",0'la'511}'*VES#¢0-·*83140,1@HH:*1#110*10?#12*911**i¥[114-0«014¥j.*07**810,11'*ill 

.(8.*Aug410Jouo,glutoAq»41844wadDOOP10Bup@RUJFltR*,Wlot»miS01PelpigdgepButleer,JOGODON041J.8ailivea;ARS@Goeu914084*•f]0009* 00el;murlpel*pueeq*4OUROSM80009ON.la.p-p.0efe -U¤eq100-pUO U MN.u 03.4*9440rm/8EN,PuB114010(#r,48lin04epl,jild*Rdl"014(•)

11¥1*ls*41'1ln*lu#'11*41;**4*¥510*1*"11*419'1Alll*N#Olsv'tnple**11(#40710**-2

'9/92#:egL:,Le,L-LL-go

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flil.11 --0101*89)*Wl, *111· -Mi#**M**, *td--08***04*MI*Wr ··Wm*JR84/01

8,3 Con*Renci %%*h Lish,g Rul.i Ind Corpor,dions Act

itf'.1:11,»ill"*1421

CoAL indertakes 10 0omply w*h Ehi requirerneritt of ma L*# Rulee. thi AIMRule< the JSE Wtk, Aiquirement, andthe Corpordons Actln relailon to the16*ue Of*be HS PlaoliO Sh,res.

*81#&*0¢1*1*.08*"111.*M2ff 8*.1:11/)1111. Aa, kilf."LJSE klif**1Lut*lami#Ndle

RNM.851

AS 800,1 = pol,iMR but no imim *=1 nve &1.limiI d,  (as del El In IlCorporaions Act) after the FhtComple0011 D-and the Sioand Complevon Date,CoAL mu tili al Na,enable,ndel,ocHlo*m In ASX a nollaeco,*4ingul»i  c®11*70815)(e) Ind (610(the CD,por or,BAct rall,mi:* Noticll. If CoALli u ble k,comp y n*h the !99*,m,rl d -dons 708A e) ain(6) dthsCotporattone Act to 11=I' a Cl nelng Notioe, CeAL ./ *198 nith ASK; 4prosp m In -911*ree nlei 8708111) of #d Corporatori Act m won Ireasonably praoticable aits, the rel*ant &=2 to HEEL

*RN#*5-Wln·*8**414@$*18-1'·m-*Rll!,111!mr*RK#*JAHlit:1: fl; ill*Z*,48&%708A(6}(e)52(6)-150'Jjltilt,#1*1**113*51! CM#JaMI.) . NI;18-1["0&**28&01*,4.*708NS)(e)Jt(6)1Sm'Sit*11,]aNI, *J&*!*04 *&4,01MR#*1*me*?*im*;17(qlkh[0#RilPidRIA*141&8708A(11)1;AVNIMt"ASIO** .mifistil!·B.

9, Wlritti=

8.1 Warrstles by CoAL*01**ANE

Suble[*to olm= 8.2, CoAL warrants lo HEI that each of the CoAL Warranties Is*14 and.In 81 Inaterlal r,epects as al the *4 of this *eament unle,I9(pre.sed b be dvert at s ¢Slerent date.

**7,21%. :MO*AN*MWNIE, **1*IMIM<, J E«AH*10**N;*91. *+12**0[*9#i*ilidif *89, I**At + IHImilli,8&.

Urnitaitions on CoAL Warrantlerl{103&18!NEMNIN

H Ei sha[1 not be entltled to make a dakn underar reledhng 10, and wil not be entnledtp *minate, thlsagreement, 0 d Rwl not beabred of, mld CoAL- have nolably In reipect of, any CoAL Warranty. to #10 8*nt mat the laot@, malls,B ordrcumitances which %**Ild othen¥lie give rile 10 Buch dahl or lermination lightwire faRly dlcloied /* milblent d*lis to *14 thenattn, hip= andstgr oance of the matter dsolosed) b AS)t JSE or AIM before the dam of tda0 ement

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Et*N.*04111"64**41¢01, **41*£4.*NaiRM'Usil:l,X....R*ix#44$*. *#21*8LUM*01*f»*1601. 04*P,NimIE**5&8**AN16)011 (lt#*111Utul»#mS**miut. **th*!*ABIRM"), .5&9 01"£#wbRJ""*NirRS*86(, *4*JRkiN.

(a) CoAL_ ado™ledges that Ha h= entered h® thip Nniment h relanceon lohof the CoAL W ranliga

*,111&3,"Ald*I'*M".142**4]*BAE*Mit[*Ut-

(b) Ha molvuledgea that CoAL has eritered Int Otis *eement h rellmiceon eacholths HE! Warmnik

66*IMR:*U*M.*1**b $[1"/4*RU?**1**i.

0.4 W"mnlies by HEI

j/*mmalHEI warrints to CoAL that

85*11(DAR*.01#taiRill:

lt  thi powwInd autholl 10 ®n#rhib lid Wiorm nsoblgihris und,rUW *-nent and haa rio*ed al necess=y oonient» andaLICherlIalk,ns to enable It lo do so (0¢her Blan the app[oveh npeomed asmnallons to the rel•vam Issued HEI Plaoing Shefes);

**1110*k, *lil.186***mlf41*01 124141£ 191*BUL**[ffA1% Fl* <*{1*lf*R*MR#LUNR#*17#9*1*11<Rk**) i

(b) 08 8*by inlo, and pellormmce oithe obl lon* under thka *cementdoes not conal:Ii* a bl,ach of Ns con,lilent document, or Iny law,agleement or ob lon to,*lch HEE! 18 sublecti

*11,"04*", Affigs*-F**4411**&811Gm#**1*21. NAR- 1,1liUM**fl BWI.

St*

0) re•ok on has been p-ed In r-lon to HEI A

•ht*1 514§01*84*IZ:

01) slp has been taken h relation to HEI; or

*1**9&3YWMA:Mit).1

Oil) legi prooeedk, have been started, or thlellenid. so net HEL

Llmfm. 1,K**MIRRE*1-*8&*111#04tk,RUM*,

no:

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,or . *dvw l d.*40,1, or lor me eopoh*mar* 00 a Irv Or,,ses¥at,a**&*,Ant:a-*MI.*rk#=e se,Ud d ha.mts; and

}8"*11!18*208*, IR/JUEM*7 fE*&**A. mecA, 1?SA. la8!CLU*85**Mi

l.knM.IL

mit:*M41*=Re·*Mt*)484**7*,4.

8.0 Notmcanon

Each pity wl; prcm# adv[,e th• othor in v*iUng 11 it becomes Rware pnor bSeoond Con¥11§00 af =11 f,04 m*R r or dia,„,lance wIgh con,IRTiM or mqconglk* a Miach of *,y of *»wglar-e dven by Runder th  clause 9,

£124011*mr.IRRUI,DE,RHZ-021;1*JP!10*. *ft·*180*#IIJB®emRed-F,Rllimifiu. 12*ul]151 1%1*t*

98 Sur,h,01 01%,wrantles

mOWN®E,#1 Welranty Oveo under this 01=me 9:

1%*91 F/*Al/N:

(a) 18 mve,*le;

Adur*Imt

(b) d 8U1VM Ihe NT,*Ialgn of thls Ig,Illment; md

**IRN.11:Ji?*H#liti

(c) Is given,vml the kniert th4 lablity under itwi not be oo,#,ied to briaeheswhich are d.covered prior to 0,6 dat, of temtlr 16•1 of th  soreement

MIIE#'2|IA,kiN Ptiff,HJ,4011 1:#18*11.1121*Rflim HER.

10. Term!, lon

St

10.1 Torm!nalon by HS

ill&1*11*#lk.Blit

If at any time prior to Sioond Compl on:

0,83:-IRR*JA!1261,

(a) HEI becornes aware thst mere h- boon a breach of gny CoAL Wmarru,ormiyfactordrvizi elcinoshms*lainwhich, sukirenduanyortheCoAL

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W,ran saur*ue or ams-or inWea g b, arw<***h thsreasolitil opinion of HS, 1, Inah*/ 61 #te coil ,d of @B invo hnent [nCoAL, b, eaoh ome al li tha CoAL Wairs.,b iwleWil al d Inesb,tween thi elag of 11,18 4#ement and Complidon; or

**INI¥*Ul**0101&*IN/*]11,4, 28*NI***"NO/*MAL*0#fllindimm, **1*Ill#*011%*3011#11#11*51, fal#**I#TNE[®04*, **4*mal Fllill**OgiRI#**Ul*j Il#I*IRM:ED Smul*bal£**89.

(b) any Of ele Co*Metor Subectip60,1 Ag,8)116,78 18  om,Inaled by themle,vant 004nve*,r or tBm*1-8 Rl,to 10* In ==*ce Inh hterms (but not, lor the· avoidmoa of doub4 v,here any mloh Go-kweeborEk*80**r .-*M# CoAL),

iRM -*APINVEN#*IJ#Al#*11:Y AAMNinAU,1011*UL (Irl**1136 1*Sibil j*4*«INA#At-) .

then HEl may (havll consummd wel CoAL lothe exter* remon:bly praodoibi, In*te *asistanoes), tamil* 0118 Boreemerl by,vr en no60,10 CoAL

J**M*NH (AE**uff?*11[**E F*81**M#£*2 1). 151Ml!**Pil#&*8$It bblK»

1(12 Callequmc. ofWmliltll

* i.0111

(a) 11 th[B Egreement ternit,Il# pls,Uant IO dilse 4 or is lermin,iki by HEIplrsuant ,) clause 10.1. 8,0 05*/dkcs of the parlee wm ceas, =ldte,11*1* #li=imil and, macept asregaid, Iny briaoh of al,y pr onof mis aglee„w01*4 hu ooourid p#10 Ihe d,Dof ,uch*0*44nopitywl have inydah egabst=iy o er pady foranyooe  di,Igge.oompem# -001-v  under ora MB#dthi *88,!  =oeptthit

*1*1*Orill*2.48§ 01!Im*11 18#110*1 1%*1*ik, 1*6**10,Ut*-F#91**141*11:(**11**UU#d:MI]NINA*89*iP'fkml*), IN**4<#390 ---8*111*11* Fugmjll. *AU. *01,EARI£17*1111, 411m:

a mlialon18 be v#Rhout pre|LKSO, 10 Nly lo rued , 10 orobloaljoll und,r t  *,ement

1*lbot#J|:404&*MiLIN#*11*,

(1) the pre*lons of doum 1 and clauses 11 10 14  ak,sh wlcontinue lo apply In accordanoe,*th thair re®edve tsmts.

2518%. m11-14*811*1*Elt#A#litikgH.

(b) For lhe avolda,106 of doubt, If th Ve=11*It tenT*lat= or b terminaledliter Ret Com dor  auoh tal#illion w  not did tho respeollve d0 and oblgalons of the partii/vgh reapect lo the lealle Of, and peyment for,the Fb*Subact*6on Shie# and HEl glbal have no  ht, or recourse Inreepect of the Fh: SuBsor* on AmounL

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Ii***I, 8114&*1, im-*0"1'£*4112108*11,]R*MO, ***ik,F180***RS--»Rall'iR*0@Re, ** 191*Hkma#;RIA*, #1Lm*M# *RJEjESS-*Rlk!01*m.

11. Cow.lid„duy

HB id CoAL =adi ackn *adge th,A te oorrflder*Sty *eernor* entered inbobetween B*W Haohua Energy Rieoutoe Co. Un* a p R enlty of He, andCOALon 188®plarnber2012 CConndent ly Ao,•mInT) *al 04*ly tri reapictof the negodMIM• d the pltled relithg lo the PMEU =ty Wom=non providedby CoAL #HEl Irl coni,@clon %%*t) 11:e P cing arid the Sl*lectinatier =idlerrns ofth!§ Ignillint No ¥Rhstanc  dbrial 14 and 16 of 01, Coridenme*yAgreement HEI and CoAL agree thatthey *leach bi bound by the terms of theConflderihimy Agniwirf untfl such d- al ekher al of the HEI Plaoing Ghwmsare 18,uod by GoAL or this aoreement Imthiales In actordanoe nith clause 10.

514@m»*111:lile#*Al;RU, 3ls/iR,klf!13*,PfIgUIV, allt**RA*alk!01:11&0&81**ma. 044*1*Ut*,60,"0*11%*, fRE,8)11 Pill#44 111:4*741:,tx"%2Id]Re*,ij®.1)MiM*#8£46,4 1 21)12*91118U11#89*101*Ot (mlf *R) .hing*11,*11%14**1316**Ank, *44111*Mt**#i*»jnZN**1109**Y[01*****34*INWR# f&,0354§[flglk,011#ZH**tbollkm!5104%0%11:ZHZ#Jit,X*04#11*JJ•

11 Notioll

.MU12.1 Gener,J

A notice, d*!und, cer*don, process or other cornmunloation relihig ta thisagreernint must be lin,!Ung h Enoish and may begiven by id agent of theInder.1**4*X#*92'1*1, **, <41. 44*]RJG'entllj,*11 **15[1[*KJMT.likfUL,11*fl:lft)9 ARII'.

122 How to *lacommunication

NIMJ/1751 jH

In a* on te any othir Imlul mierl, acqmmunl®*n may be dven by blkif

I fth;kil*. JailuillfUUmktl 1. Ji-KilIT,

(a) perBoll d,Iv,red;

*AJa*,

(b) lenat 1» par 'solsrellt =098=m#z

***11!R01**1 *jall:,

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Fax:

(c) ..9,1001,Darofill,IMMIrttack*'ll'fornizkv" byp.'Op'*dahmal;

**1*NIES#Elit/*01-4*11"il

M aeriby faxb thipaIt Bol:Ter* fax,unb,r fornoice< or

144*Jaktmn** -*899¢*14*4, 1,R

(e) del nd by enid from the Ben*MI party's amr¢ emal address forno ld*b the reoel,Ing /Ve ourn:,1 Inal adch,0 for noll-£

***111&111 fift-M*st#**An#]1*111-T·ImRj,4*0(*Af***671048.

123 ParUculgrs for delvery of notice

1*Mij11*10 1MNI*.11:ma

C The partbcia„ for delvely of nollces ic, hlitially:

mA&1*1*J#*MiNNIal*miN,

COAL

*N**Address: 804* Block,  ynercon Offlce Park

96 8Lniet Avenue (Cnr Rockery Lani)Lo,1/11, Sardo,South Alrlba

Plc.

Emon:

lilli

Atill'*:

**A:

ImA*"iAddress:

+2711 3888333

+2711 388 8333

mlehmel.meemrOooekMIca-corn

mkbi m.."Riall#imit.gm

Michael Messer

MIall-1 Megeer

Roorn 502A29/F Wia R,Bol/oes Buadng20 Halbour FloidHong Kong

+852 25112032; 610 8985 6625;+8610 6984 2252

26

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Emal:

Ane'llon:

1*#A:

/8/120531@hohnaL*xn;

Yrt112260103.oorn;

Ir,1200 19820hotrnal.com;

we/688®hotmaloom

cd10*1*ty.oprn

Wl *Aildion/ Fu Min

770&*/*fl!191

Eaa pmty rrw, diinge Bs pa;*lars tor del,gy of nodc»G by nolk, beaoh ce= pany.

S YinflkiDA*aklg[*1*181& 'f91.

124 Con¥nunloaN"by poet

11*00****111Subleot to olaus• 117 a commuacalon h given N po-d:

8 il11 2.7*8*RAL F, Il!*Jitll*#Aililit

(a)  %40*: Aus:rahto all Austmlimm,6*·ell, One Baminege Day»al&,rposlng;or

It&**44],Lini·41'91'liwi, *lit'63/1.i:%&1.{jitilizi]&18, 101

(b) h any olher caae, ten Bus,less DayB af r poeth#

11.A111#BL F, *Nllot.!:*H*illi,)816

12.5 Cqmrillslic*lie= by fix

inktl***KIMT]mill

Subled to ol•ti, 12.7, acommunloation 12 iven R eent by fax, whin the gendifsf,s machine produoes a t,port thili the tax was sent in ful lo thi addresses. Thulreport 18 oonchmlve evidatioe Ant the acldretsee received the fax In full at the HineInclcated on th@i r®ort.

8*)111512.74%*11#IMBS F, *111 kt<0*Ja#*1111*. 182-*Ag{***LMiReRJanlft·ht#*10***18*18[*A*804"UA. *Bl#AS«*AS:lillikwhwm,itMot***f#*ma"Imlal

12.8 Comnll,tica8ons by ernal

*MIL[*lf/*5Wth7ia

Subliat to c J  12.7, a 00#munlollon le g n If sert by emat gi ths Orne ofIrd/,emi=lon.

*-M)1]%12.7*11[28(J1 84 F, MigUIE!11*00**8*11*, ****1111#8839

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127 Aner holn communications

* *»114/tll

N a -U=*don A Oven:

NIJ16nipaki<.F·*MI'Yal

(a) *r 5:00 pm In the plze of rsc®t of

18[**m#.1& Fl-5*LULIN, Il

d**£*Bm*.INI*. .U. 111"£*AR,1

n Is t*en as hivk been gh,en at 9:00 am 00 the ft•*t d,81 ¥Moh Is nola Saairday,Sunday or bank or publo holday h #* plagg

**!Il*A!<WAIA, *U. INe'**01 1, 11188)**11111-*All#

11 aST

13.1 gogislrucdoi

A™h #*mise 134 and udess be Go,illit rembs olheiv,1801rl 1Wl agr, ement

*11913*11, m:119*BULM*¥8:

(a) words and  pressicm whlch ale not delhed h INs,griemert but *Wchhmeadelh edrn ,1,*glneSTI_• havemel'"1"In'Mink,gallne-GEFFLmv; e,Id

*1%111*tj[Ill](WiJR*)*kINE**VI,UL,11*X, IMUL[*Nt*84*1411)1,LL

(b) 'GST Law' hm the·*1*mes*,g gli=1 19 1}lit Ir/,1,101] h U= ANowTeot 8ystsm (Goods end Senlces Tax) M 1999 0ustr/a).

*Malal**045@30119901< (* N (16&181'll,%212) ) .

13.2 Consick,1110,1 GST exokisb,e liff,44*GST

Unle= 4,4,wii *Pill 81= 8di al Fic= or other GL= payable orconsidemlon to be p,0*led under mle agreement ase exdizzlve of GST.

**53*11,1, N#WL Fmlf##Ft#*Af¢**£»t{*4<*GST.

14 Pgment of GST

GSTIN

2B

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If GSTIapaNb*byasupplerorby-!horepre,Int,1*ve men,berforiGST oupofwhI©11 0,I Iklppler I a mimb/, on an# mlpply m e ind= ul ag„Imir< theridpiednlpayloe- pplerinmaneqidlolhee payible*Ilhasupply.

111*8&,Mi,%68**GST,@104{t*JAMI!11--**M F#90 ***HeST. 10N!*17022*t*#111*Al**11:*02¤.

13.4 Tkning of (3ST pawneri

GST*#Stly

The reclplent,vmnR,thessnouot re*rredID * c ,Ii 158 Ina*IUon toand,te.sarne Sne imt Wie oon,]dnlon for th• •ul:* le to bep ov ed und•r INI0./In"mi

&1 02»h**N/28¢21/#1183*04***N.

135 Tax  Ice

&*RaThesupplumustdihiratu hvolioranadJu*nentnotelother 0*l*belomthe al*plor Is entRIed lo payment 01 an *nountular 01#*#e 13.3. The r,olplentcan v,Rhhold payminf Of me *mount ungl the supplier provid= a tax Invoice or ana*J.*Iia *Ote, u Ipp,OpiI.,3.

OUM***UM*/133**f¢**0. **tr*114#!*10&*8*R*Z#**2111, 42«011:$1#051*Ullin, 20[*,Irtallf***t.

13.6 A®sum"*e."i

"*4$*

N 0,1 9,*,*11** event ails= h reeped of a homble sup* made by asupplerunder M l,greeme,% the ainount piy®le by me m®lent ur•14 d,Inis 18.8 wlbe Mcilodatid to renectAe a*stm,nt event and a paymenti be made by Aerocipient lo the *Lier or by 010 suppil lo the mdplsnt m the cle reolria

NI!13*fliWil-AM[*11*1**bULEAMISARA<**4§#, EASS13,31% FM[(42<IliviliMS, JIIULA*$1*fRES. #t#Milt#!«k 40 /#41**N, 1*1 0402!N*48!IBEA*#11(61RN FRIS*ftmalt

18.7 Relmblnements

eNWhireapirlybrequ edt derthls,oreement* piNor reunhinianexi„nieoroutgoing of ano#*pety, the amount b be pakl or reknblned bythe flret paftydbe the msnd:

*1!11**Ii FRM€ -*m=*53-**Nam#Rilialillit, *#*011**bRRN/**3%1,(e) the  1104*of Al Ilpl,1. oroulph41 1088 iny I,Bat tIX Cril  InllpeCt

of the e*pinse ore*ON to ,%*leh tha other pally, or to .*11011 01,

29

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reprele,latti member for a GST group d ,%4*11 he oiler pmly b am nbwi ...Wid

*11, Mutal,miST*11184ft**111*RJIjaskimim:AN*IRRI,

M "thape,me!*/rs[ ureamentlud*dto GST, mimour¢e¥,/*tha(G.M.

*Imil[IN#Im*m#*Stlk#04GST, Ii,lall*,4 resT*E.

14. Gen*al

14,1 00,iipligce *401 oorAknious Idomsa oblgatior*

4*N'**16"1*

14.2 Duty

913/

HEI =*ng*49= that CaAL Ine  bo rmolred la reles,e omr[*1 Wormation aboutthis agieement to AS)(, JSE and LBEIn,•m=711„M with lbs contk„9- '11.a„-4oblgalom undir tie Wth,g Rules, the JSG 1-1*ng Re,ii,unent* and thi AIMRdia

6&1111]11'0641¢, *010&*,WIMAVE**IN. JSE*m*MOI-t#*14*2*11***53(*, #ff**11*PIRMIE**18*. JSEN*&*J**ISDIROW!*DUL.

CoAL as betmen Ihe pIUms le lab]8 lor id muat p«y al ck,N ( **,g any ineor penaly emept Wher, U ailaes from dilmi by*» other pe,¢y) on or rela:N In*b Neon,=14 my doamlent #,clead under R or ai¥ liumwi tran-amIvldenced or 41*4 by EL

]Itmmtlut*#41*11. iR*1*1*wid-F-*831*. 2**1*1#tid*070,5,4&**18:1/* ({Im/E#/4/lk//4/1/, I*"*-*M)584,17*2&1

141 Lega Mets

NMASJU

Exoept as expreeely ®tabed other,Ase h lh  agreement emoh pErty must p.y Nsown liga and other 06* Ind egpilies of negovalng, p,#paring, mcio,big EdF#*W Nmob SonS Mder*li,gred,Iwit

"******51"'11*RE, ff)11*--**SAIN-Jb*NIM, 1 10. *i**ft-,btiffJCIN Fl*it#1*RNifWkIRAA*UA*481*jU

14A Amenc ent

BIE.

™s Veem nt may only be vwil,d or replac•d by a doclunent exect*ad by theplve£

***Am**,erHestr**84mt*i*11111»*

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14.5 Ws#ver end exerd,e of rl/I

SE#411119*tiDN

(s) A *de orpar  =0*/m#whaBuN dalvA relatir,10*dsmvernent do. not pfuvent any other wier*e d hal tight or ths.xercheofmy oeter!1*t

-7,-*110210*17'BEARMIRR#3£4****38*94KI**440*UJ£17*Wil*MiENJUEN*]Al'*81**84*4.

(b) A parly * not hble for *19 loiA cootar *»Im of iny 0*,0, puly  u/dorcor lilad lobye» walver, moa,Cl  mUsnlpted =afc , falln tom/*Nord*,Intheexerd/da, t

4.04- -1/1 13Uk#. M. *011ME. te#jajgial?*JtaN#»HERAll,1,14£131#INA. ®*Jam)11*lifflfetiE.

14.6 Rva Cl,11Ulatk

Except as 0191„ly ataled other** h this qi*11% the r#glib of a perty und•r11118 09:eemerA ate olm:[1 Ve Nld are h daion10  19othi r #of th l pmly.

»*21:Sc'-1 51*,1*"81, #* -*****SM FfiR:MJ,j*1(81.. J# 1*JUEMA{*09'KNZ*¥*04.

14.7 Consents

.2ai*as <19.* *10 al,en,4,0 hl this04nmne  a pedy may con o, 19or „,aM.lkw# give ardmhald any conier*,0 bag ,i under#* U.ementand h notob ed la gli im MII=w fordoN lo.

****4153*411,111,1, efl- -1,-Arel#**]L 1**j.18*1*18'm-f·***IR Fmlll, #11.St?Tjl**INgM#'EN.

14.8 Flither -pl

32 -1"Mi#*Each party must prompey do whtsver the Mher party reasona* rlipires of It togli etted Z Als *,eement and lo p*forrn Its obiga0O[18 uider IL

4 -* 11**AN:*****im**84181, Ul"*$***4-.M#tkti#.2"1

14.9 Go,ernbig law and Miscidion

**1*4114:1:le"(W ThIB agrgarnent, the )01*Sction deues oor¢alned in it and al

norl-bontrac  obl,1.110,1, arting h =w way wiwi-iifi. vw out of or 67conneclion wkh el•Ueen,en! am go med by, oons d and toks eff•oth accordarice n*h Engish Imw.

81

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(0

(1)

*»ZR**R,ima,rd#*1**4**, MANA**"44***0*891***0841tff, 41*•%1112*1**hell# 05, i *.*kh.

(b) Thi oolits of Er,land have exch,Iho prl Sclon bo getle any dabll,*aorma.4.rence v,IMI rm¥grissln ar, ,y whalao,ar ORof orkt conneollon *ht:88 Nige,12,1 ¢nck,dk, ¥ o,R WWon clahnsjor =t 00 or Counte,ois m) of thl lega! relatkinshipe establehed by 0,1,gglgement rDI•PU!•1.

Di*Ibit#*1**Al, 484*1*1[*9404*Wk *11*4--*, (11*Mtim[ 1:11*UM]*82'11**K#Ali f *10), tlit 4*'Rlii;Alk.1151***.111ll f-*011*IR 4 -t7* (*kl .

(0) A docinmit which Iti,ts or Is other:,188 required lo be =ved liconneolon w#h eny legal ac6on or prbc,04 relaillg lo a DIspuk,TP,ociia Dommntl mey be s,n,d h the sami way u nelloes Inactordatioe wmi cim= 12. ThIS mil-(imm doe* not prevent a ProceesDocimlertbek  served I n ar *manner permlmed by h.

W*UL*limtklilt#*4#*lii,§0*1**81,** (ANMR#) 41&#*Em!m*1*30 12*NIVE##. *-f-****Nlil:38***ltiE****#JAIA#*121&.

(d) HEI mimt St all tines makttah an agent lor -vioe of process hi Englandmid Wak

&**Ill#**EMD#ANN***15&&0111* ]:***1&185(*1(*A

Ce) HEI .opoint. Norole No®ea Lhnned at Ibe regl-red omcs torn unne blthne,"Alch locum"*43'01 London R]verskle, SE1 2AQ, Londorl as ItsNent 10 900ept sente 01 *¥ Process Dodlnent In Bdand.

%*MN;11*Now•• Notbel 1-bnlidfl,1**1111*18[1*1*48**ft- 9(taA, JC718*BEmiali 8 Mor, London Rh#ers,de, BEl 2*Qi London.

Any Proo,i, Doblment vAU be stfldenly Berved Ofl He If dedvered to the

agent ath adch= torthetknobeing

»ff{Ik»)881**muk.40(ta*jilt", 1 **;1**516*2&&*/ACIW

(g) HEI must not Mdi ths =*holity of thesoer,L If *le Iged oseses b beable b ed as such or lo have an adckees vvt#*1 the DJflacict|On of thiEnglish courts, HS must promptly appol anoths agent (Wkh an addivilor sel¥Ice witi# the juria[*clon o¢lhe Engl•h 00418 

56*!11,04<N**Itak*t#L. ligiftaAM[ffft#IA¢t'EE]Ritjkt**141f·*11&&*1""*SM, R*14*u,21:1€&*M*-*iltaA <JWR .1*10**011*RIPN'*MCI/A)

(h) HEI must nottly GoAL ##Irt 14 days of any change In the Identity oraddress of Rs ggir* for service of prooeia

8&*MB,iat,KiEN& *Imilift*Am*!ll]ILINE P14[114*N:*Mil&*.

CoAL must, V,Im nVe BLE,&18= Dm of me diM of thi, agwierne<*,appoh* in *,ent for servics Gl prooess lit Eldand and WNes, and *INS

32

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M## Helnmling 0,0» Mmi andado,rees of such  ent prom* *10*g ITIM**nit

*MiAER#***Ibul*irs?*+Ini,1,4,1!1*IA#AIRMal#*1:-411*0611&1&*'NtaA. 0,11*m,20*RIS**Ite[A.*444111/Jit*Nijam051*ma#

Any Prooass Dooument -1 be sumolet* served on CoAL 11 de*'med tome ager**hsaddrees for thetkne bek*

m*2&,RiEN**12#21*leakill¢. l;IlINLtM,ati*1**Illl&*

0  00AL,Tnistnat mvoll the mi84of 810 Mer,L ir the IQI#oe-el lo bedil lo mot as,uch or lo ham an addion *,h ihe BE*ddo  df IheEng. con, CoAI. mud .99* nA..0-agent 6/ maddress foriervioe *1*,the jt,*Sotion of the Englsh Coults).

14.10 AssigliI,ent

Ntt

(a)

*11***RH'in<CRAN'l. 111*{VIA*frfeP[AttlE!*JWN]E,14#JApill,&1*116& Slil, *",WUkillE*53* -*CU.A (JWZik.US**[10**5%!FS!12*)GaAL rrult natly HEJ withli 14 days of any change tri 0,0 Iderdlty oradde= d R» ager* lar=vlge al pivigee&

*8,08*aR*1*Jal*,11]21&(taA#1**41.* r141114**118*11180.

Ha shal be enuled to =alli Ra rid* under and In  arrns & 0116Ieernentlo sly subskI y of HS or 8 10 HaohuR En•gy Re,ourc• Co

#*11100*1%*81*1*R*J&**IWKINFfi R:RINU:8*A**MIRW (*.) *161*14.EMT*,11]lit:16***Baillm#*Mt*111"*RT*14

(b) Exoept - provided h thls dillse 14.10, na teml of this neemed Isen,orceabia under e» Cdriracts (F¥e of ™rd Partlee) Act 1999 (614

Als plovhlon, anyd mi,Ing by Witle Of the CofiliI,0*(R118 of ™rd Parnes) Act 1999 (UIO may be reednld or vaded Inanyway or d any Ine by Ihi partli to this U,emmt¥, h=* the consent ofanyp,Imon v,ho li not a parRy b 0118 Ui,me L

Ni**314.10)11>2***, *l,litil,St:**EM#klkfirQ*144[111999* (*nlk) (SE[11-1%*4) 87#fi. J *Ul:**511, -·-M*P:*1*X[1182*fER*#:*WIRAI!19119994{ (*HES (Sh[**N) INja:IkA®Nj*4Blill*#IRRS-,0-*€E#0#*Nlit#RRIMIR*NE, Ilik«*N**»ar- .*09)1*.

1411 COLM@rpert,

189*

33

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84

Thh Igialment nq be elglid h anynl ber of coil/par* Ind al moes004*te,0,1*4*IW mdi One docui,eit

**tifiE€EHER*111* i:**S,F, m*IN*AnituR-***14.12 EnD® indirat„idim

**010

R. 86,/.nont ./.1.des a[ pre ous a,fam."2. id Ukb'In'llbelween the pltles Ind Imbo*, 8» enUM *eement boh¥een the pe,6,0r,1014 to th, miblect ms#er ofOf *g. 0.1.0.96

***134*»Relit*11*1  C.-AN") *1 12.m#9&11"*1*. $!LM04*lek*#(JM. 11**44#Mr#Relit*fl;Di (·-·11*.5 '111*Atfl409*mil"

14.18 Reiall=** of p*Oes

ilnel/*1

This igreement b not Inended 10 cre- a panne,84 Mitve,Ale or agenoyre 0081* between the pedtles-

*11*M H Mi**41**211 11***11€. *MERft131*„111

14.14 Languap

This dodin,rit Is mouted ln Enal and Ch, ee. In the ogie of enyInoonsli.n*81 the Engl leh lar*age verdon .11 prevan.

*11}RW**Xl!,§*ir. *1*t *Oft#86*ft. 91****1119.

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:1 1 -I -, Pa DM MI'lima

1)*!1!al-F*11**

EX VrED BY HAOHUA El./IM rrERMAnONAL (Holle Koll ) FlmeouncE Co. LilriED

ANBRIB 00.) ?r'*m )

Dn@CTOR

............nallR m MIC *)*Il**1

R te')* *F

»5 In'0N mo.D, croll MI

*46** (im*)

DIR,aCTOR

-A-kh#4

Al 88="mc ')*mim

Nr-1-b•.0 4

NA* 0, DIFNECTOR (PHNT)

1

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EXECUIED B¥ COAL OF AMICA 1.all,D )

*IM'klt*.*,0

Ct//DallSECS=rDSNK**EXOR

*'llill/1,1

NAAE OF 011/AN¥BGCREINrtIow= 0*Gv*Il

*180*2**S (611**>

N*OFDIA[mOR»10 1

88

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Bot//1

**1CoAL Waillmilis

49'"DIIHE1. CM[- 8,11 Mah CoAL Geup Menlbor IB a val* mds# oorporalon regletared

under 18 Imvs of 1* plaoa d inoorporaoon.

4[*1101***N#&122&112111HRE#1*Jatht,<*1*21,1***11&**u

This agreement oons&,108 a vald and bincRU oblgalon on CoAL /1(,irceable Inaccoithmci #th ks *14 **lectlo eny osoe==y slamp  and ck»inot iRIAh abr-hol ordil,vit undicMiy agreamon& unde,WI g, w,ti order or 1It*n,nAe Mreellakn to wMoh CoAL ormy CoN. 0*oup -nbeT Is ap,tyore vhkhthey 0* bolmd.

10[2* 1:01*IImEINE, 1*EUCI flk!?m**, *»liC*12**VINAR:**t**19NUJU#X*, *IDR»t*mWIL,I.IR*mi*mkll,RDI€EM-*MAN[h#VIR,*in, IM*. *+u#u'*4  NE*]REWN,t;igua,£wAH,4Subleot 19 pag,4 4 below, CoAL haa me corporato poser to entar *U Indperfaim Or cause to be perfollned iti oblgatil»underti1b UNIndd lo oar,yout *le lill,Imioil cont.I,0.10 by th  9.91=X

*Ue r FMS.m, *13&&**141-.*DR, 117]40*61;INT*.IR, PX*UlAtillY*BUIi#DE*Nni*Tlilll,J.

Other than (1) the appvv*spec led as concilons lo tho lsm» of 0,0 HS PI*ck,gShares and (2) 0,e,Wic•Il,ns for the HEI Pla ,g Sher- to be acbnmedlo ta*lgdi, AIM, CaAL 1- reoehd Ul neoel.Ily 00,1.6,* *nd0#Jiumlill to .40,0,1.etne enty 6110 and · '· ' , of this Bre,men! and lo oar,yout the bansadon*co*mp ed by bla agi,®emeit

I (1). Mil;110#UIRR#Relltrilt**, lallk (2) #1**41[1(Wikllt#*AIMlillY*NIPIR*, *ml#1*Lill*(* f*I, 1%19*1bkitill F*Untlm,ff,112Nia.No:

Et*

(a) reeok,8on has b en piesed In r#adon to CoAL ;

(b) stephp, been  en In rehlonlo CoAL;or

**§£30!11***11*S,

(c) legal proceid,1/ hive het, Irted, orInilerled, aginat CoAL

*t**M#N/4*QH#i#bNAS,

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for h  44./orc or lor me *WIN/da Ic,#alor, rece.2adm lalrelor,0,91909* reealvi or**omci mer any or Il of na assets

MnEM#]RA¥Rk*TO, *R;HEHNE,NE*#!*A' 2064' INIA, 4TikmeA****M.

8. The P ire andthe  alle d*e Ha Pia*g Shares wl comply dia al appicallelaw Adxing the Oorporanone Aot, and wl 00:nply Co Ole exted aopicable In thedrol,11,1* ee) %%«h al ®plcaNG reliabq gddadice, Inckdr, AS© ReguelogGuided

5&1144*Remi.14*12171**Emielt,«*. {*18*It!&&, #N* (Mill! 1;*InaLF) m*Mjil./.milf, 11".01{Exvi**M*/*mIN.

7. The la,ue of·the HEI Placing Sharee il not breaoh thi List  Rules, IncittingLIsting Rule 7.1.

**MMUINS*)04**71:SBU:.11011 , 11*-1,11,*R,7.1.

Ther,He no re,81000,19 on CoAL Iesling Ole Ha Placing Shares toth,Depollary*r, lo tar m CoAL le aw,e (?,adim made due en**108 0| 08 Depos|taly) ontheDepo•tary 'Se<ing the HEI D®Osaa,y Ir,teresls to HEl h accoidancs v,101 Oilsaole,ment(othulhln soprov*lo be sot*tunderthls, emeneandther® wILwhan lagued, be no restrictions lolhe HEI Plaging Shares bekig a*11 dlotradqon AIM, otherUm**4*#/A»,1 10 M.**d HERI PI 6,0Shares unRed and mc*Ing oonfh,halon from AIM 10 h*ve such HEI PlmingSharion admmad totr«Ing.

010!101*1*mipt,Mul"im)*19#1**A, Uli&2*/1**Mal,im (Lt#EMIR#WA) , r!*Al**1:0[IRm#**MRAWS*MUM (,Sal*bbliUM FlFil*41 , AS,$[18#lkIES*?75?. *Tillm*LURES* 1.11faillitlity**MliESRUM*fl*, 4*EAIM,v'16.k.,trit@1&1**JMEN.

On their all*Tent and Issue, the HEI Placit  Sharee JI be free *om any

12*11#«1*17*, 3&*INRbil!01**88*fEMR:MA*1.

10. The HEl Madng Shares wl on Issue be fuly paid and rank frorn FIN Complelorlor Second Complellort (as apploable] pad poss, In al reepect, wuh tho mdalingIssued Shar60 11thalurnd

Ailam-mmum*18*mmn,1-Rum*)844*IMBilik,lmeRe,¢44 &*.1*N. *)4*alluttEMWIUM*190;Rm*SH#89®N.

11. Save *, dbck,sed In tte Regitrailon Dootmleri the MER and/or the [ndeplndentTechnioal Stal,nent (each aa denned blbo:

I f**ES**11'*SIW*. MER#MhiRS]Zbt*Bll!, (*1* F) 111,

(a) the Mimg Nohm cornprls*,9 new order mk*lg dghb gran*d luidersection 23(1) of the /,Ineral and Petrolmi#n Reeources Developmerd Act,2002 or converlid nunlig *t, corM,elled li¥ler 1 ,m 7 of Schale tl toUle M eral end P. leurn Rele,ce, Divelopment Act 2002 are vatld.-1**ve, slkal#W and e,}fornede by #Ie CoAL (*OF *11 shal

A

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cor nue h ful #ce W *ffect ur- Im d-,paciled In U» mle,lt nesord*I,Hng Right; arid

*rall]81*87'411*impt*:,FR#k (2002) *29898 (1) 8*NIlei)*09*7+*111*#IR,Ir atillifm,FR21 (2002) N,*2167*41*0 19Mraait %61*11**lati!**. **, #1:# kL,ru flethog*ra. A*-,i**rnim»]mpipit#*.

(b) CoAL knots„a,*qf /*Mdh,g oren-4 9*4 4 /AMproo-ckig Zatns: CRAL or Iny other member of the CoAL Group Woreany 0014 govl,Ywle,Ild or 0,11:ililfailil goeng or body or a,bara,or arany mely cause of grly euch ac<ion, mit, dalm or,yoceethig which, irmiopeami* wv_Ad Ihnit re,mk* canceL aimu or oljse not to berenmed a,V Mlibg RIA In iny wq Illi, Would reeult il miy ni=W"hm'd,ahgs Ime cordlon /12*4 0/'Wknal orothen,4,8), orme0*r*All-* bu*,81* bu-UNpe* or 8...prospects, of 0,1 CoAL Group.

*thi*, BIJ#*17*[#LE*#LHUR**M**fratil, **jAR*44111£1£**1·**0111£*IR*,10&*SSNIOgRISR¢„*al#09**, lev#. *10,*1384*, SRMiC»t*ral»ll, AR,!, *tlly.. li**,illk#4»1, 15**a#*444*18 (1#*, Mit:,Alt***) . ®Nt*Mcil*9244.18,**. **Ittat,1*/1.

In this par,or*ph 10!

*%10*

9ndependent Techilcal StalmY,enf means the Indepe/Ident tedilcal st-mentlor thi Greater Sollpaniberg for CoAL dated 31 0* 2012 ani plkashed by CoALon 13 Jim 2012;

a.*.®Raf?*1112012*5% 81 El Ill,K, *SUbtk2012418M 138 **AD* f *1111/40*mANa**t*Blf&.

VER' means Ae mineral uperfs qul eont,Aried in th, BAckt,r:Non D w .nent i

MER£11180***WRmr***litp.

9aoir  Fuoh  meens alth• m hlg lights granld uxur seoUN, 23(1) c,heldpursuer¢ Icy Ibm,1 7 of Schecklle Il of the Mh,eral efid Peb elm ASGOISCHDevelopmont Ao:  2002 whioh are heId by one of more members of  i WAL0044 hclucino ¥4thollt #RaOon, elose %,Nch ars more partlada y deeolt)ed asbolrigo#ned byorhavhig been ,ccl/0 by amemberof theCoALGroup In (1) theIr ep,rider* TeehnioNS:minment ar or (2) the MERIand

*r«£mit#*ma®*N#ta#&661**m, t*Imrah*,AlillipRIE (2002)1428*11 ( 1) *]AN#f)25§7**Rf14*199%, tiLm*Ill P, 91*.82*811441rE**#19*,1,112,]Ag*M#&**WI#*AN:frm*ra.-Registral# Docinerf means the re*ratlon docunlent dated 31 Oclober 2011and plib[Ished by COAL on thi date

thS**:e,82011{F10)131 HiliA*kil*ITIN**11:111415*Itkm*n.

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12. Sh» 31 December 2013, 10 !*a, CoAL isaware, It has oompled hl ai rn-,blrespects  4*h Ms coriti,zioug clsclomire obigalons LEid* th6 Corper*Bons Act andthe Uilhg Rdia

612013*12,431 LIES*, *1*01*&*»ill. 16**-£**Wil*TJVE {*pit,&)8kil'*1111*15*#*IMNX*fASHE***

11 On the dam of thia agreement CoAL hae exaolited eaoh of me Co*IvestorS.lt»alption 4,/ment,

** *IR*tr21-1, -Or,Bibkt.* 1*{Li )48*A*trf;4,11111EAU*i»Ut.

14. Under #le relevant Co··lilistx Subscription Aveements:

&411*094*)11*WEAUIN»UU* F,

(a) M&(3 haB egreed losob,al* lor 97,000,000.Shem underlr*nche 1 oftheP cirg and &9,000,000 Shares Lmdertanche 2of the PladnT,

MaGIS#.  ·*Ralf?#11:tU#87,000,000RR#, *11:.S=N)RA!9$* U/08,000,000/281

(b) live-0 Alet Mifiiaimmt (P  Lki has lalld ID *abecr  for30.000,000 Shares uoder twnol» 1 of Ole Plao  tid 50,000,000 Shareeundertrand» 2 of thm PIA<10; and

Inveseeoefti?P[lf,Il*,1,128811-*RA!04!Ul#mo,000,000*Rm.#*Mt_=InR*11,4, U*50,000,000**0),

(c) TW hm earld *subscribe&26,000,000 Shases lr,dartanche 1 of thePtaoho ahd 189,000,000 Shares under trunche 2 of the Pk•**

™MIRES-*2£1!fil,Kj*m,000,0O0EER#, #*151»RI 14'1'll*189.000,00ORS#•

15. In aam Co-liwe•,w Gil»cription Aoreement there 18 a provision thal issubstantially shnuar to oisuse 4 d this goreement

** *A)(42*fAU,01*Uti'*8*01*4*»Ulm4**WI,)109**·

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801"al 2

PImIM T,m, Ind Condlblii

m"Hait

For,le purpaees ofN Scheckle 2. a relerence 10 -0» Inve,181' shal be deemedto ba a referenoe to HEL

Atm#201#, ***A"Maguilnli*i#*11 09 #In

1. Except es recvlred by Imv or rlgindoo, no press releme or other =moutceme,Rwm be made by CoAL using the name d shy 0,8 *1vesh (or Ita voenO, in 15c,pa* al a parndlmart in the PIdUor dienvia  alher timn Ilm Ihe live, ofsp# IUM ooment

0**9**t**51·60**, 83,MJill**lit**841431415**Ull*Elf Ang**1 *(*djuuiA) **I,JAMS/480**, R**#aa#&*Ang-15*),1.The hlves:or aci *does that

2*.Al illme Placig Shares have been offered to a hlt,d hunber 01 specmcalyInimid persons oly andse not offered In such a woy am b require apro:Rectus orolher off.ing doo,Inent h 810 Wfled KNdorn, Sguth AfrlcaorIn •V olhic H*ddkh-4

*014*00[OLA&If0<*HIARIT. AR#71*1:litel*6*Ill. 11¢*1,1,*14 lk*NI&£i{R*IRMIP!151(Eltali:Slcfh

(h) no de,Ing or acknia,lon doolnient or prospectos has been or wibeeubrnmod 0 be enproved by the Austranan Sloulles end Ilve*non Commi,sion, he UK Fhai,old Copcha At®orl¢y, the Lon*n SlookExohar,e plo or registered by the So(01 Afdoan Coi,pgnies andInt,§**al Prope,ty Con¥nlieldn In relalion to Ihi Placklg; md

m*tekls04#1**liED{*St*81*. *11*jallf*lifflati*14, itaiE#*Al#U**ENIES. 2111**]UIR,ill·Ilj*17**t. 11***11,11*11 4%1UOBS[*M*0. 12:-1-1.

Co) the 11,61,10<'s m,nmarnert wl be made sol* on the bmle of me11,loimiliall contal,»d in 1he innoll,con,Int lo b, publehed by CoAL illconnection wm the Plaoing and otbir publy av»»ble Worn,#60,1<*I,elher or not p[*Ii®h* by CoAL) (the 'Plaig Annotmoomentl.

REEA*:11*fle-*NIA"*1**2*2£142411'*2®Alkllf*+FOR./2 (IttlimURM#Rl*) (RIS#HEI)

8. The kiweipr col*rns dist It haR neither 1.00#ved nor MOed on any irdo,inaikxt,rlfie,11, on,warr**, or #hn nt mandi by of M behau d CoAL or any other

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pilion other thm *oi bl IhIgie,rn rA or be Plioing Annal, rner< Id thatneither CoAL nor an, odher per„on d bl Ial* forths hi/„/n/'s < 01®lon §0par c*••h *• RioN bi,ed on any olhWWom lon, fipmeMlail14 Irra,4or .lat,ment whkh th. IN.*M n.'hive omilld orreash.dd@ld, Igh,n ormacle, guoh Worm on. represent*,1, wanwity or etatement must nol be reledupon as having been a#,oilsed by CoAL Ns omcirs of board of clrectors.

12*Antltit*#01*****1, **Ht*A]RJ *AN#89.*&4",81£0*912*09}6*1*Al. NikE* atiBRill,1, **2*EAJWAA.1:*Mi,fAfk,Rit*09#lamal *AR' al]Ervi.*lit/'4£1!im*."4*4ffERXS. 111** PEBEN, 012/091. MUL OHE®11,!, 1.JVER.M.11*14, *Tilit/VAM]1 Z J;*AN'KNE'WRWUR'I.

The h,ve,loradgiaviledges and,oreis thaE it hes mlid ori *gin Irivi.lig.lon OfIle Bush,e,I, f ana orothor po#on of CaAL in moeplrua pglidmbi h UiePiaob,g,  cluclig the marlts and rlsks kwdved Othor 0*n as sat out in thisMeernmi CoAL *hot nlihig e *undmt#, or Wal,Ilty b the Invis:orrdea ng Ehe legaly 01 In Invadroant In thi Placli  Sh,me by the Inv=lor underRn,legal, Irr,= nentors[maw  ¥mor r, lulons

1**Al*U#"*0 *fR"**MIR'**' ***Rlk"*Alalk"*811***Di,IR!111, {**11**FiRJU#Ikf*. »*&6114T*t El4** *Il#ilk*04NWAStlit#St#856£%1**. RNE] 39241:tr:*-FA9*11#RfEMNBE45*10,

The  rve#or:

4/MA(a) wairil Iht R has read and und,iilood 0» Pla*W Ar ...Win b

en rety and eit b acqibilon of Ple g Shar,0 1,  u4801 to and basedupon .4 9. §,met con ohe, 48*ral*ggiseme,Ii, and =Atdap and o# hilormolon00*hed #lereh, and In  Gueement;

.Ed#**IR#30 f,14*ft, ;4, BR0o46 Na* r*#Rati15*22'11"**/ 10'. lk*. AHE, 01$ . »lt*11*1#,

(b) aclgodedges that nelther CoAL nor any of Rs almls:ie or Werb nor anyperin ac onbehalof Inyofthemhasprovk d,norwlglheyp,ovide,I*Ih any Inionna{Ion or melerlal regm,dhig me Plaoing Sh@res of CoALomirthan the Plach,g Announcement nor has R reque,ted CoAL or any ofIt, affmttes or agil*8 or my poison acaig on behal of any d them 10pro,Ide R with any suoh Wom,ation or male,W ;

*UrMA. *,4]**92**Mj,Ilf<MA. *Afall:*ft*A, R:*&4**14**Al(VES®*fl#H#0949#0*ImS, 1&8tg"*traA. *111*#*Im*,4,lftMA, RUWA<EM{(*AR,W&#Ulb*MAJAN,6

(c) warraril and agreee that the only Inia<n likin on .ttioh Rls enttled to relyand on which R has reled * commmIN 1 81 to *CINIre the Pia*g SharesIs cont led In the PlacN Announcement and any #brn4000 previouslypublahed by CoAL by nolloltion lo a Re lato y Infonnallon Servioe.auchhiomlenonbingihkekdold. nece...0.Ind.pproptinato."IA.an  il,1,01£ ded,lon h reepict of the Pia*W Gham and lit itl-nemier reoeived NAr mled on (and wl notreoeive nor Mly on) miy olhl

1

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 malon glvin er repree,*Valon,  I,raith ( hether 0*rees orimpl,d) or s sm„nes mado by CoAL. and CoAL wl not be lable lor th,vivgetor'Idecleion loacceplan ilv•milmlopartk*Mahhthe Pigclighagarton EW Worm.on, r,pr ,n.on, I.4.-mlit.*Im.**pre,en---0-tRh.nlior reo*ed to be not¥led b 11,0 1 R:viv.,11 iii .IMI,vda,10 *40, this egivernert

NIE#,11,&**2"*fe"*81¢J:#allia"* -mnime*t,41JR#DIA;Ut*r42.**R)aM[flglklial*#it#MiM2, *t*#15*64"8*10#18*,El**1**t!§115*50482*82*AU[12*11, th&***1EiNm (45*49600*'M'in) t™Al**111188,10*"2**111"111&6*I (Ailt*®MES"#1*), mi18, .110#81*,11*12"Amal#*malNUE. Uititi]RI,&1*42.0#.MI,10*173!0*81,%***,

(d) *Il#/4.S res...4*lu»dbtr«*)**th. 0-0 nlay be) on AIM, the ASX and ho JSE Ind CoAL *thersforerequied to publ,h certzin btmi»Is m¢ n,wmid iriom  on Inaecordanci nith thi rules d such  charges (0010*vely. tho 92xohm,Wor..m), 00"tmt H" .bio b obta  = ... the Ed"Alkkinmkn"mtunkdll/IXIT.

1*Ult#UIVFA ,AS)(,tULISEk.Ilf, *1**0*11*tel (*1**461(MEen) , *011!Z)&22*amin *****Ematilt¢*fRA (11*1<*1*Mmi-1 . **01]*&1*1118*d,*U»H#Z#101*81*Fl.

(e) acknowledges 014 n le not =id indettikes that at the Unle ally HEIPlacing Sharea ari =8*ed R va not be a,Midert of the Un d States,Au-4 Can* or JoW, and thit #a PIdU Shs,es Wive not *eonand wl not be registered inder the seolsltlee legl,lation d the UnltidStates; Alls:rala: Carmcia or Japan and, subject to certalh eotcepdons, niaynot be oftered, sold, reeold, plpct,4, 1»km up, renoinged or delh d ortmnsfarrid, *dy or Indlictly, h or WO tiose jurdctions;

RU#*m. *-AHER#*46*S#irliWk!111%26}81&4<*th#UW. RkRi. 41**IM*Jit[*1 101255*Wr, latz***LI. R*M*. ***lEH*09,1BI#Hati:*ER, D**2188& ANBIRE kkE,41&19"08:INpljfm}*Alll:ARR}*8**MFIA, fill!*R#141*1£11#14*12(7*90,1[juf. *0, MN . Hit. a#. *N.

(f) unlies allienvi,e spaoilcaly egreed n«h CoAL, warrants that It 14 er at thet  any HEI Placing Sheres En =x;¥ed Viat It v,10 be, th* benefloialowner of such HEI-Pladng Sharia. or that the benencial owner of euoh-WEIPlaoic Sh,res la not (end w[1 not be) a 18:Ident of the unRed StatesAustrale  C=,al or Japan;

»11 9*,4jafT Y40»184*1, leS]%*. 2*[MiffRel¢£1*RISR#09114281*A, 1***#1*AL£, **&4*£341, ***, MIX:M**H*89Mlm.

(g) wallara thit Ihe l,aue lo t or the person Ipeclled by It for *liah mholder, d Im Placing Shares wl not dve rim to a labity under any dGeodom 67, 70. 93 or 96 of the Rnance Act 1986 (depositam Mc,4*1 onddiaranc  sorvicm) ind thld Rs Pladng Shares ara not bekr acquired In

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(i)

cohneolon WA rr= nents 10 ..Nd# -4- or 15-*Plfaig Sberes inlo acl=ance sy*Brn;

*UEJ&**RiN=m#@Re, eutmimi*mesnet,*ALIMil* 1:, »14*5*41* {11:ZIN:*) (1886) 067  70  92*86*4 Fil#111*€E(*#DEE*1111#SES), 1&811111tm#31%84*£*#11.1%1119#11*ltiT

rigmieHWH/*11=0.(h) wir¥,tz *14 R has cornpled dth Its oblgallons th oo,invotion v,Ith money

Mindith, and *ro,10 lin« Ider le Un dKNdom Pigo,ed, ofCun, Aot, 2002, the Unlbid l nedom Torro m Act 2003 and he Uald4dom Money LALildert, RIgulaGons, 2007 *nd the ec,dvalentAul"#In ..'SouU, AMcm /0..<An (2»'R,0.ikm.1, d, unikhop®mient on behalf al a third pmty, thai *biao,ory 0%4denos tiaa beenobtah,d  ld recorded by & to verly the Iclen . of the third pally asreadred by the Reguislon«  d ha5 obtajned st governmer,tmi Ind ae,ercomer,1, 0 ars) /** mv ' r c;* d *,r m. purpo= of, or . aoonsequencs 01, sucti purot=se, mid k wi previde promptlyv CoAL suche,Jldence, If any, 0810 Eheld*,16 or looalon or lagml stakia of any pereonMid, CoAL me r,qu=t Irom R  1 oonn,c on dh me Mdm Qor Aepurpoe• of comp4   *b  uoh regldaions or a oh,tab g the na 00*#yof sny pemon dr the jmilddion(,1 lo wtdoll 8*person liaubleot or00,er,ise) In the i:rm and nliri,Br requeel»d by CoAL;

*1£16.* f {414**IBC*th (2002)), (*11'IN*16*14(2008)3 +(*IliliERalk) A,1*4,1011**11181*Pkiew. (Nar#*7 **08

1141**AE**Ill#*fl;*R, NIZI&*ft**112*#00. elill**11*#181*04,*1*JiMME.23'.am:·t##e, el,it"*Al""]RM#92***1*89*Uff#;S«189"11 #ME*AM*KENE:01"09*161!1*?MAS*09**,8*, 0191*11*INIA#,A***411*AJ;09**RIN!189#zi,R84]217*U ( M lijANT****81**. 1 8#fdkA .1:Mitlek#lltk/1/21).

warranb M n hes nol ohred or sold mdi prlor to the e,<,lry d a perlodof*morh from thi rel„Im adinl on d th* Pla lic Slces lo lailng onAIM rAmi Admlilsion').wl rd ofleroreel sty Plecing Sharee Sp p=solubl the Unnid Igmdor,1, m®ept to personG #10. or nary ac,Mties Invohethem h ac*irku hol m. managhlg or  sposk  of "=m'.(asprin®el or agent) for the pli 0885 of #telr busness or *e¢*e. tnc olmelanoes which have no: reelinod and which wl not reeult In an 94*r10 0,0  *Sc h ti» Undled 1 gdorn wltin thi ineer#,g of sedon 86(1) ofthe Financlil 8®,vices and Markets Act 2000 (the FSMAT,

N St?fe#**1!112«19, WUUll#011810EMal,AIM*@,FN:*01*+Al0901»li**111, 1 15,14*1%**11191,11!ime:*3*CMMA l:. 1,3'im#aH5**2:&,A#NI!*J#91*#*, »*. 1¥*]R#&*A,A I: (fli':18*EAA]Rle"Lk) . iR:*NEE'fliTELA<kpiloR'*31*&,4,1ktRn {-*151* Itltftek (2000) ) ('FSMA; 86 (1) 1 (0?111*Nim<111**Re#m)0.

waitanh #ad R has nol o ered orsok! and wl noto#er or 881 arly PlacINShains to p,rmons h the Europeen Economic Area prk)rio AIM A*1*:sloriacept lo pe,im,8 *08® 0*1,4 aolldiles Involve #In h =1*luholdhu man*:InO or.poehlg of  Mlme. (= pr olpal or *18110 for1hopu:poi:,0 01 iheibush ,= or gliwir.1,0 4 *ou:11*,„c= 0# hive

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not relll:Id 41 lid wl*11 wl not reaul h an 0- lo the publo in glymember -t, of the Europe,1 Ecor¤* A,»a  t!*1 th. m,anl  ofDIrect:v  2008/71/ECr·*aminid (11» *to,plcl = DI,ICllve");

legint*2*14:AIM*Mpm#, *1£&*Il***1*Elill, ml#**Rill*180*ft:SE*Hm#:HMS¥XMA i:, **4208!1***Jihil#lk*38172**m. *Mf. TPaintiO#A.I: (fli,1*#EAAIRMA) , *** 44¥*Ll#***]1 41&*t#*#Im ( m+2003/71/EC) (9ffR*81111+.) &**ili*mill"Muld:M#20%,RA.**Rempjal

00 Wa ar,18 that ft has mly communicated or ci„,adto be comnullc i d Ildw. 0,1  coIT nut a  or om- 10. 001*24/any #50=orhhi.$*.pee.hee#* ac #ly./* .e mear*10 Of "O1 n21 of the FEMA  re g loth//RN 81! es*cke  n  ce, h v, ohaecuon 21(1) of th, FSMA dom not require soprovsl of the communicationby an*ed pe,son;

1*DEA*ID#158119*9&04Reff#* (FSM*21#02*0*¥0) 38*70§EgURALFE FFSMAS***NaA l:NUUM"U//2/0.

,¥a.*Aatihasoompled and w..44* 0 appicable pro-o.d FSMA with r,epect lo =Le*,g done by R in r,Mon b the Placklg@laree In, from or ethetivlge Irrvelvtu the Unlled Kh,gdorn;

NUEJUU.15.m)&17848*1:4***9**17*. 1- 081**8,45*.*FSMAJdmils:fill**.

(m) "Inihi that u n reek" In a member '"6' of 111' Eun'*In EconomicAfea I li a ChmIS,cl Ime-r ,%*h the mianhU of the Proip,®BDir**M;

DA,£11111& Ilimpt#*&10;HHS¥KJAM MA, AmIS#lm*81*1+Nt)&04*Ing:NEA.

(n) wirri,zib thai l hascompled and wal oemply Ilth,I,oploabl, pudili=of tie Corpo,1*10<18 Aot (lickxmlo relevant hlelderOJ Q provision*) mdthi U-g FUes In reta§on to the Plao# Share,4

Mil.le.****16&.*84 ret4RB) (*114&11) W.il]ING (am'1 **HI:2-) 14£1 1-1!fll*.

(O) 'grees that It r,1,1 comply .Ih al epplo•ble provl cm. of the AL'dralenFor.Ili Aoqtileklor» md Tabovere Act 1975 (Cth) h retalion to theMacho Shares:

Eal.*8<"M.<N**i#H!1***ms'MIA (1975) 3 (100*) 2jil#*04**2.

(p} uil that lili not a 'relalld px,¥ 0# CoAL as thatterm la ddied In•*clion 228 of me Corpoollons Act anc,or the Using Rules, (or li It Isa'relaled perty' d CoAL that RE acqui,Rjon of Placing Shares would notr,quire CoAL to obtoln fhe approval of Rs ahareholdera ulder 8801011208(1)(a) of the CorporaHons Act);

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*:14**Rm*Ifin*28*IR/*1 kilf*Mil'*180*14*9**77, (limA**6489***, M#IM (*74210 208 (1) 84*12. fiti?#R#84*Rb*limkbillkill'*ah"tlk) .

(q) worrant• th•! if it reeldes In 8,9 L Ited IOngdorn li Is a Qualed Invellorne*1018 meanlr  of the Prospectus D:ectivl *di person (a) who hasprof=*,al exp,Ile,M In nlsRefs r*thlo 10 *lve-le* Ild le Il' astment Profes,lortar faling Imt,1 artole 100) (Irivestrne,itprof•/810,109) of the Skiahdi Servioes and Mark- Ast 2000 Firt,n*,PromoOon) Or# 2006 (th, trd<. or (b) who fals **1 044*2)(8)m (cO (1* net wo,01 comp,g  ilwopof/ed I.,Militior» *J of *»Ordor.

*1*JUIUIUM#.NEN. 111*mlfIR*Sm**lign#*#HfkmA, *IL (a)1) 2000{1[ (91%#*Allrjl 1*+7 (**9#7 2006(1411**19*mm#209. ***1 ****0.*AA J:. (b) W[111449* (2) (a) *(d) M1[*A  : (*106*F»*[09**441**1:11*Ime#).

(,1 ggrees liat lt vilinot Q*or lasel the PMU Swes b ar,pemon thalianot a sophl,Ocated orp,of*Ifilinve-r undersealbil 708(81 or=don708(11) Of OVe Corponebons Aot imm the day aft,r a rdlcel 1, lodged byCoAL %4101 ASX thar oomples '%* 01„cllons 708NS)(el Ed (® 0 00Co¢Por r» Aot;

El*11.*141*m*14&708At-iT(5)(e)Af *1 (6)1 j*2***1*R#*9!Z[1111, 4*Ztifilt#49$&1*R*19***B:WEA. **82VtAIRMIN*,41?k708 (8]R708 (11.) **21.

(s) wgir,Mt thit li & rildl in tl» Beoub00 01 Sol t Nlio  It qJ,8!les as *na*emee deeormed In sedion 96(1)(a) or 96(1)(4 of the South Aftlcs,1Comparlms Ant* 2008 (No 71 of 2006), m  nended;

Sili#lBiZEAN{**1**. **1** {*Illm (2008) ) (20084-71 9.*117*) 96(1)(a) 41198(1)(b)**09«[*A#*.

M .M.MIshas com.ed#*Id, comp4 v *01*ploaW,pro-ons of fhe Soldh AMoan CompeNes Act 2006 (Na 71 of 2008), asamended, Seculti Senlces Act, 200 (No 86 of 2004), u *neriled andthe JSE Lla  RequIrements h r,lation to be Placing Shar.1

Niii*RISIflemfilf, Lt*ki*#ZE#*11;¢Bill** (*Htk (2008) D(2008¥5!71 4. 1*<IM) , (ieD**th (2004) ) (2004*1136* *tri) £111*RAA'81*.

(0) ,varrant, *at It and Ily person aclng on Its behalf Is en#led to acquire AePI W Siwi= imider Ihe lain al al *4*M Oid I arn tli It has alnooeemaiy aapaot& and h= oblned 08 n®-a,y consen* andgidhoridee Onck*ikE witho<* Widw any and al Goproval. th,f may bereqdied for the purpoeel of me Souet Af,loin Exhnoe ControlReplons, 1061) to enablitb oonvrnb thieparOclpatIon h the Plaobg*nd toper rm h oblgallons in re on Unrelo and wl honour 15oblgdlom ind It hee had acce= to such Riurnial und oew Wo,ma,bn00,108,140 CoAL and thi Pladig Ihims as n deems neces,14 inoomection wuh 11» d*ision to pork,aae Us Plaohlg Sharee;

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0,1 JUJUU'UM"*IX¥(4 10***faIR*IESRS, ****04*11I#Rueasm*s*mn:*11215, (fllimAI r {**fam*e(1981 ) 3 399**80*Ill,R) , 04**jl*4*111$1*1L*?701281*84

4/*St*. *IZA**18$8!Plit**I**ktmill, UMUR; f11*,11'11*301*ffia#lit#mal<,1161&•1189#12,

M wh,re It le #Phing Placl,U Shares for one or mom muniged accountsvs,71110 tiat n le =Jtborlsed h m:Ing by each managed aceount (a) bEMx,*p guoh Pladng Shine for each mRr'ged =,courlt; and (b) lo mal'on h bellIN 1hs vi,ra/lies  ao 08(ed<eme , undertakil an*Ffeement, h thkt ag,eeling<

NUMWI .+ER.+1 *1*pecj#j OURS, *HEA,/411¥imj'!-15*111%, (a) 4+1 *P140**1111*e, (bl 2* WL,1,840*1£* ;RU ..U. 842**1*fE.

(w) winant, 01 #18 an h.#hibn oran addn..le vhkh: ("has suohlaiowledgs and=pe,1/M In Ijaile;al and buslie= mat ars and ®*perm»In ass=I g c:4 ma t Ind d other rel,ar  rWes-10 be mp•1* ofevak=*U, and hil evalu, ad Indevmder*, #,e moIA diks endBultabimy W Its inveement bl tile Plethg Shees; and (b) a td any8405)ull lor ¥mloh li il ao ng ul e,ch abll fo be•r Ik Itonot,110 r k asuoh h-#Illent,der,e..diabb tosustdn aloraaub-rM por*4any inve.*nent In the PI*:ing 8%,Hel;

00*.31-+ ca) *411*89**«IN**lout#kt, 2**mill, iii*4111&*411*KRNMFMYS. *0&,DERISRS",ALA- RI#t"1*11Ri8:17**11*i#jill*JS#*116'im#l#/*t#A: (b) A*#*10(11141£!tr' j Wah*Mit*04*im-PU@, *ROR•*AdiNESS-**96*1 t:81*10*

(x) tilde/Mandesid aolomledgithettle Placing Shares ha¥e not been andd not be 4-rod ** te 840,000 Aot of 1983 (US) Ohe 118Sec** Acr) or 0,8 Seol es .dany ststo or 00»r),r *¢R,n ofthe United Btates;

118¥#VHVE*R*kmff' **WANCHRXI (lii»* (1933)) (16!88&1112»tky 18,72*S. lk,1<*#im*,13(*milliED&&]AR{&*1*t,40]881k..

(y) screes thsaf the Plachlg Shar= may not be reollared, sold, pledged oromenvile trangferred, and that R wil not dkediy or incirectly reoner, seLpledge or othe,wiles trwilier um Pl#*g Shar-, I,ocept h ah o sh*trons=*n In non<Irdance vah Rule 003 or 904 of Regl,Lat  8 m-kunder tle US Seourth Ad or another exemption from, of tmniection notsubled 4 the reglatration requ mints of the US SeCL.iUM Act and that.uoh 00•r, sele, pleclge or*an*r most and d, bo made In accoidmoewe, asy appicable lecurlli laws of my *te or other)*cldjon; and

11*fkll!*RE,Mt**filES. 111#1. *1¥***ik, MAUt,14*rim]RMile*&1*Reme#*111.1119#. *U¥ 1*th, .*#IERM<**AtkIN F81SNI*903*1904**311*8914**811*ZR[NE®%8**521'ells

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*U/**F*1289*0. Jit# *1¥. IMS. *EN]Reth***00"*,42&1,Glm111*M*892MliEZ»£*52. 11,

(z) acldef#,1 thal no ref„eeriallon has been, I,being of WI be mide by(¤AL= Iome *alablly of an mr, on fron, the reglmlon forelereoller, Ide, Rl,dge or#,Il,r of thi Pla*, 81=H In mooir*,100wimthi UB Sacurltia, Aol

MS¥**Ilt*. **t#**flitillk:11#EN#FRf4, 011#flf. *0*101111[liAllf.»**Wiurell,A*12.111*.

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