COVENTRY GROUP LIMITED — Board/Management Information 2014

Nov 18, 2014

235 Settlement Road Thomastown Vic 3074 PO Box 526 Thomastown Vic 3074

Tel: (03) 9205.8241 Web: www.cgl.com.au

ASX RELEASE

19[TH] November 2014

ANNOUNCEMENT OF LEADERSHIP TRANSITION DETAILS

Coventry Group Ltd announced at its 7 November 2014, Annual General Meeting (AGM) that Mr. Peter Caughey will take on the role of CEO of Coventry Group effective 1 January, 2015. The details of Mr. Caughey’s remuneration, effective 1 January 2015, are outlined below.

Mr. Caughey will receive a Fixed Annual Remuneration (FAR) of $500,000 made up of salary and superannuation. He will be eligible to earn an annual short term incentive of up to 35% of his FAR, based on achievement of financial performance criteria to be set by the Board. He currently has a long term incentive in the form of a limited recourse loan made to him in January 2014 to buy 200,000 fully paid ordinary CYG shares which are escrowed for 3 years, as disclosed in the 2014 Annual Report.

Mr. Caughey’s contract of employment requires six months’ notice of termination to be given by the Company and three months’ notice of termination to be given by him. Mr. Caughey’s taking on the role of CEO, follows the Company exercising in September 2014, the termination clause in Roger Flynn’s employment contract, the key terms of which are in the 2014 Annual Report. Mr. Flynn will cease to be Executive Chairman on 1 January 2015 at which time payment for the last approximately eight and a half months of his notice period and the normal statutory annual leave and long service leave entitlements will be made.

Roger Flynn will hand over the Chairmanship of the Board and resign as a Non Executive Director on 23 January 2015.

As a consequence of that and after careful consideration, the Board of Coventry Group Ltd is pleased to announce that newly appointed Director, Mr. Neil Cathie will succeed Roger Flynn as Chairman of the Board.

Upon the resignation of Roger Flynn from the Board, it is intended that Mr. Caughey be appointed a Director of Coventry Group Ltd.

In consideration of the reduced scale of the Coventry Group, its recent financial performance and feedback received from stakeholders at the AGM held on 7 November 2014, the Board has determined that the Non-Executive Director’s fee scale will be reduced by just over 9% effective 1 January 2015.

Roger Flynn