FAR LIMITED — Capital/Financing Update 2015

Oct 22, 2015

23 October 2015

Dear Optionholders

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Entitlement Offer – Letter to Optionholders

FAR Limited (FAR) today announced that it intends to raise approximately $40 million (before costs) through an equity raising comprising:

• a placement of fully paid ordinary shares to certain institutional and sophisticated investors to raise approximately $25 million; and

• 1 for 17 underwritten pro-rata non-renounceable entitlement offer of fully paid ordinary shares to existing eligible shareholders to raise approximately $15 million ( Entitlement Offe r).

Details of the Entitlement Offer are set out in the letter to shareholders in respect of the Entitlement Offer lodged with ASX today.

Under the Entitlement Offer, every eligible shareholder who is registered as the holder of FAR shares at 7.00pm (Melbourne time) on Thursday 29 October 2015 ( Record Date ) will be entitled to participate in the Entitlement Offer in respect of the number of FAR shares for which that person is then registered as the holder.

Accordingly, to be eligible to participate in the Entitlement Offer in respect of the FAR shares to be issued on exercise of the FAR options you hold, you must exercise those FAR options and be registered as the holder of the underlying FAR shares before the Record Date.

The purpose of this letter is to advise you of the Entitlement Offer and to give you adequate opportunity to exercise some or all of your FAR options so that you may be registered as the holder of the underlying FAR shares before the Record Date so that you may participate in the Entitlement Offer.

To exercise some or all of your FAR options you will need to give notice in writing to FAR in accordance with the terms and conditions of issue of those FAR options together with payment of the exercise price for each FAR option exercised.

You are encouraged to read the documents relating to the Entitlement Offer documents before exercising any of your FAR options.

Yours faithfully

Peter Thiessen Company Secretary FAR Limited