COKAL LIMITED — Capital/Financing Update 2016

Aug 7, 2016

T +61 7 3212 6299

E info@cokal.com.au

==> picture [175 x 54] intentionally omitted <==

Level 10, 110 Mary Street, Brisbane QLD 4000 PO Box 7122, Brisbane QLD 4001

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

ASX ANNOUNCEMENT 8 August 2016

Capital raising increased to A$1.5M

Cokal Limited (ASX:CKA, “Cokal” or “the Company”) is pleased to announce that due to the interest in the A$1.2 million private placement previously announced on 22 July 2016 it has been decided to increase the private placement by A$300,000 to A$1.5 million. The placement will provide working capital for the Company which will enable it to continue to develop funding opportunities for its Indonesian metallurgical coal projects

The Company will issue 18.75 million fully paid ordinary shares in Cokal Ltd at a price of AUD 0.016 per share, raising AUD 300,000. There are no fees payable by Cokal in relation to the placement. On issue, the placement shares will rank equally with all other ordinary shares then on issue.

The Placement will be completed within Cokal’s placement capacity and accordingly no shareholder approval is required or will be sought.

For further information, contact:

Peter Lynch Non-Executive Chairman plynch@cokal.com.au +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.

Forward Looking Statements

This release includes forward looking statements. Often, but not always, forward looking statements can generally be identified by the use of forward looking words such as “may”, “will”, “expect”, “intend”, “plan”, “estimate”, “anticipate”, “continue”, and “guidance”, or other similar words and may include, without limitation statements regarding plans, strategies and objectives of management, anticipated production or construction commencement dates and expected costs or production outputs. Forward looking statements in this release include, but are not limited to, the capital and operating cost estimates and economic analyses from the Study.

Forward looking statements inherently involve known and unknown risks, uncertainties and other factors that may cause the company’s actual results, performance and achievements to differ materially from any future results, performance or achievements. Relevant factors may include, but are not limited to, changes in commodity prices, foreign exchange fluctuations and general economic conditions, increased costs and demand for production inputs, the speculative nature of exploration and project development, including the risks of obtaining necessary licences and permits and diminishing quantities or grades of resources or reserves, political and social risks, changes to the regulatory framework within which the company operates or may in the future operate, environmental conditions including extreme weather conditions, recruitment and retention of personnel, industrial relations issues and litigation.

==> picture [41 x 13] intentionally omitted <==

Page 1 of 2

8 August 2016

Forward looking statements are based on the company and its management’s good faith assumptions relating to the financial, market, regulatory and other relevant environments that will exist and affect the company’s business and operations in the future. The company does not give any assurance that the assumptions on which forward looking statements are based will prove to be correct, or that the company’s business or operations will not be affected in any material manner by these or other factors not foreseen or foreseeable by the company or management or beyond the company’s control.

Although the company attempts to identify factors that would cause actual actions, events or results to differ materially from those disclosed in forward looking statements, there may be other factors that could cause actual results, performance, achievements or events not to be anticipated, estimated or intended, and many events are beyond the reasonable control of the company. Accordingly, readers are cautioned not to place undue reliance on forward looking statements.

Forward looking statements in this release are given as at the date of issue only. Subject to any continuing obligations under applicable law or any relevant stock exchange listing rules, in providing this information the company does not undertake any obligation to publicly update or revise any of the forward looking statements or to advise of any change in events, conditions or circumstances on which any such statement is based.

==> picture [41 x 13] intentionally omitted <==

Page 2 of 2

8 August 2016