MAGONTEC LIMITED — Remuneration Information 2018

Mar 25, 2018

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Suite 1.03, Level 1 46A Macleay St Potts Point, NSW 2011 Australia Ph: +61 2 8005 4109 Fx: +61 2 9252 8960

26 March 2018

Company Announcements Office Australian Securities Exchange Limited 20 Bridge Street Sydney, NSW, 2000

Dear Sirs,

Magontec Limited – Short and Long-Term Incentive Remuneration Plans for the Global Management Group

1. Governing Document for the Short and Long-Term Incentive Remuneration Plans At the 2017 Annual General Meeting of the Company, shareholders approved a short-term incentive (STI) and long-term incentive (LTI) remuneration plan for the Magontec Global Management Group. That approval was in terms of resolution 5 of the 2017 Notice of Annual General Meeting and the principles set out in the explanatory notes to that resolution. Apart from some minor grammatical and textual changes and the more significant changes described in the table below, the principles in the 2017 explanatory notes have been incorporated verbatim into the document which will govern the incentive plan.

Varied Principles Incorporated in Incentive Plan Governing Document	Varied Principles Incorporated in Incentive Plan Governing Document	Varied Principles Incorporated in Incentive Plan Governing Document	Varied Principles Incorporated in Incentive Plan Governing Document
Item	Notice of 2017AGM	Incentive PlanGoverning Document	Topic	Nature of Change
1	Explanatory NoteItem 5 ii e ii	Paragraph ii d ii	Vesting of PerformanceRights in the event of atakeover	Incorporation of a formula forconversion of Performance Rights in theevent of a takeover.
2	Explanatory NoteItem 5 ii l	Paragraph ii k	Number of PerformanceRights to be issued	Incorporation of a formula to calculatenumber of Performance Rights to beissued at commencement of LTI period.
3	Explanatory NoteItem 5 ii o	Paragraph ii o andparagraph ii p	Conversion ofPerformance Rights intoordinary shares	Incorporation of a formula to convertPerformance Rights into ordinary shares.
4	Explanatory NoteItem 5 ii m	Paragraph ii q	Entitlement to ordinaryshares at Conversion ofPerformance Rights	Entitlement subject to discretionaryapproval of the Board

2. Long-Term Incentive Performance Criteria A proportion of the Performance Rights held by a participant in the LTI plan will convert into ordinary shares (subject to the discretion of the Board) dependent upon the extent to which LTI performance criteria set by the Board have been satisfied.

The STI/LTI Governing Document and the LTI Performance Criteria set by Board can be viewed on the Magontec website (http://magontec.com/investor-centre/corporate-governance/).

Yours sincerely,

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Mr John Talbot Company Secretary Magontec Limited