COMET RIDGE LIMITED — Director's Dealing 2013

Aug 5, 2013

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Comet Ridge Limited ABN 47 106 092 577 GPO Box 798 Brisbane Qld 4001 Phone : +61 7 3221 3661 Fax:- +61 7 3221 3668 Info@cometridge.com.au

6 August 2013

Companies Announcement Officer Australian Securities and Exchange Limited Exchange Centre Level 4, 20 Bridge Street Sydney NSW 2000

By Electronic Lodgement

Dear Sir / Madam.

Appendix 3Y Change of Directors Interest Notice Lodged 6 August 2013

Reference is made to the Appendix 3Y Change of Director's Interest Notice-Tor McCaul, lodged by Comet Ridge Limited (ASX:COI) (the “Company” ) earlier today.

The notice relates to the issue of 335,000 ordinary shares to the Managing Director under the Company’s Employee Performance Rights Scheme. The notice records that the shares were issued on the 19[th] of July 2013.

Under Listing Rule 3.19A.2 a change to a notifiable interest of a director must be given to the ASX via an Appendix 3Y no more than 5 business days after the change occurs.

Why the Appendix was lodged late.

Due to a misunderstanding between the Company and its Register the fact that the shares had issued was not discovered until after the 5 business day period had elapsed. As soon as the fact that the shares had issued was discovered the prescribed notice was lodged.

This error has come about as a result of a miscommunication between the Company and the Registry.

What arrangements are in place, to ensure compliance with Listing Rule 3.19A?

The Company has in place strict arrangements whereby all of its directors and key management personal are required to inform the Company of any trading they or their related entities undertake in the Company’s securities.

There are also internal registry alerts that are triggered when there is any movement in the holdings of directors or their related entities, to safeguard against changes in notifiable interests occurring without being brought to the attention of the Company.

In this instance the failure to lodge the Appendix 3Y within the time limit has arisen through no failing of the systems in place to ensure that directors and their related entities keep the Company informed of changes in their notifiable interests, but rather as a result of a misunderstanding between the registry and the Company.

L e t t e r t o A S X P a g e | 2

The Company does not believe that its current arrangements to ensure that directors comply with their disclosure obligations under Listing Rule 3.19A are inadequate and that this situation described above was not as a result of a failure to observe or enforce the same.

There are no additional steps that the Company believes are necessary or that it intends taking to ensure compliance with Listing Rule 3.19B.

Yours Faithfully Comet Ridge Limited

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Stephen Rodgers Company Secretary

• See chapter 19 for defined terms.

24/10/2005 Appendix 3B Page 2 ME_93687491_1 (W2003)