COKAL LIMITED — Board/Management Information 2016

May 9, 2016

T +61 7 3225 4574 E info@cokal.com.au

Level 4, Bowman House, 276 Edward Street, Brisbane QLD 4000 PO Box 7122, Brisbane QLD 4001

ABN 55 082 541 437 (ASX: CKA) www.cokal.com.au

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ASX ANNOUNCEMENT 10[th] May 2016

Resignation of director (Agus Widjojo) following Significant Appointment

Cokal Limited (Cokal ASX:CKA, “Cokal” or “the Company”) is pleased to congratulate its NonExecutive Director, Agus Widjojo, on his appointment to the position of Governor of the National Resilience Institute, or Lemhannas (Lembaga Ketahanan Nasional), by Indonesia’s President Joko Widodo. On Friday, April 15[th] 2016 the President appointed Agus Widjojo to the position.

Unfortunately, a requirement of the positon has meant that Agus has had to resign as a director of Cokal.

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President Joko Widodo inaugurated Lt. Gen. (Ret) Agus Widjojo as the new governor of the National Resilience Institute, or Lemhannas, at the State Palace in Jakarta on Friday (15/04) (The Jakarta Globe)

Lieutenant General (Retired) Agus Widjojo served in the Indonesian Armed Forces for 33 years and is regarded as the leading intellectual in the Indonesian military. Agus is a 1970 graduate of the Military Academy and he obtained a master's degree in public administration in 1994. The three-star general was a lecturer at the Indonesian Army Command and General Staff College (Seskoad) between 1986 and 1988.

Agus – the son of Maj. Gen. Sutoyo Siswomiharjo, one of six generals assassinated by the Sept. 30 Movement, in 1965 – was appointed as an assistant to the commander of the Army in 1998 before he became commander of the Command and General Staff College of the Indonesian Military (TNI) in 1999.

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10 May 2016

The President expects that the institute, under Agus, will play a greater role in helping the government implement its policies.

The appointment as Governor of Defense under Presidential Decree No. 43 / tpa / 2016, Agus was granted ministerial-level finance and administration according to the rules and regulations. As a requirement of the positon he must resign from any other position which is associated with a foreign interest. But he will be welcome to return to the Cokal Board on completion of his tenor.

“I am very proud to have been part of Cokal team, a company which has established a reputation of integrity and technical skill which has been applied to an area of Indonesia containing assets which will deliver high value high quality metallurgical coal” Agus commented.

Peter Lynch said, “Agus is a well respected man amongst Indonesia’s leaders and is considered a key contributor in the development of Indonesia’s international ties on various levels and is regarded as one of the TNI's leading intellectuals. Cokal feels honored having Agus as part of the big family of Cokal and are thankful for his guidance and advice during his time with Cokal”.

Agus will assist Cokal in looking for a suitable replacement.

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Peter Lynch and Agus Widjojo at the National Resilience Institute (Lemhannas),

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10 May 2016

Agus just released his new book

“TRANSFORMASI TNI”

August 2015

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For further information, contact:

Peter Lynch Executive Chairman plynch@cokal.com.au +62 821 1001 0009 / +61 419 764 747

ENDS

About Cokal Limited

Cokal Limited (ASX:CKA) is an Australian listed company with the objective of becoming a metallurgical coal producer with a global presence. Cokal has interests in five projects in Central Kalimantan and one project (which holds three exploration licences) in West Kalimantan, Indonesia considered prospective for metallurgical coal.

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10 May 2016