PEET LIMITED — Remuneration Information 2011

Aug 4, 2011

Perth Level 7, 200 St Georges Terrace Perth WA 6000 Telephone (08) 9420 1111 | Facsimile (08) 9481 4712 Email perth@peet.com.au

www.peet.com.au

==> picture [100 x 32] intentionally omitted <==

5 August 2011

Australian Stock Exchange Limited Exchange Centre Level 4 20 Bridge Street SYDNEY NSW 2000

Dear Sir/Madam

CONTRACTUAL ARRANGEMENTS FOR MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER OF PEET LIMITED – BRENDAN GORE

Peet Limited today announces that Mr Brendan Gore has renewed his contractual arrangements with the Company.

A summary of the key contractual terms and remuneration-related arrangements are attached.

Yours faithfully PEET LIMITED

==> picture [116 x 44] intentionally omitted <==

DOM SCAFETTA COMPANY SECRETARY

Perth | Melbourne | Brisbane Enriching lives since 1895 | Asset Manager | Land Syndicator | Fund Manager Peet Limited | ACN 008 665 834 | Australian Financial Services Licence 225772

Perth Level 7, 200 St Georges Terrace Perth WA 6000 Telephone (08) 9420 1111 | Facsimile (08) 9481 4712 Email perth@peet.com.au

www.peet.com.au

==> picture [100 x 32] intentionally omitted <==

SUMMARY OF KEY CONTRACTUAL ARRANGEMENTS – BRENDAN GORE, MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER, PEET LIMITED

1. SERVICE CONTRACT AND TERM

Mr Brendan Gore’s new term of employment with Peet Limited ("Peet") commences 6 August 2011 pursuant to the terms of an executive employment agreement ("Agreement"). There is no fixed termination date and the Agreement is terminable on 6 months written notice by either party.

2. REMUNERATION

Under the Agreement the components of Mr Gore’s remuneration are:

a) Fixed Annual Remuneration

Mr Gore will be paid a fixed annual remuneration of $910,000, including compulsory superannuation. This amount is reviewable annually.

b) Short-term incentive (“STI”) and long term incentive (LTI)

Mr Gore will be entitled to an annual performance based STI of up to 100% of his fixed annual remuneration (“maximum STI opportunity”), which may be provided by way of cash or partly by way of deferred equity under any of Peet's long-term incentive plans, established from time to time and as determined by Peet (“LTI Plans”).

Subject to shareholder approval having been given, Mr Gore will be entitled to an annual LTI of up to 100% of his fixed annual remuneration (“maximum LTI opportunity”), by way of participation in the LTI Plans.

Peet will determine the vesting periods and performance measures and targets applicable to each STI and LTI award, as applicable.

3. TERMINATION AND ENTITLEMENTS

a) General

The Agreement may be terminated at any time by either party giving 6 months written notice to the other party. Peet may, at its option, make a payment in lieu of part or all of the notice period.

b) Immediate termination

At any time, Peet may by notice in writing immediately terminate the Agreement with cause.

c) Payment of LTI or STI upon termination

If Peet terminates Mr Gore's employment (other than for cause), Mr Gore will receive (subject to any necessary shareholder approval having been given):

• (i) an amount (in cash or shares) equal to 100% of the maximum STI opportunity for that financial year;

• (ii) all deferred equity components of any previous STI awards which will vest immediately; and

• (iii) 100% of the maximum LTI opportunity for that financial year and all unvested equity in respect of previous years' LTI (which will be released and vest immediately).

Mr Gore may immediately resign within one month of a Prescribed Event (i.e., without his agreement Peet relocates its head office or materially changes his employment status). If Mr Gore resigns in these circumstances, he will receive (subject to any necessary shareholder approval having been given) the benefits set out in paragraph 3(c) above plus a payment equal to 100% of his fixed annual remuneration.

These benefits do not apply if Mr Gore resigns in any other circumstances.

Perth | Melbourne | Brisbane

Enriching lives since 1895 | Asset Manager | Land Syndicator | Fund Manager Peet Limited | ACN 008 665 834 | Australian Financial Services Licence 225772

Perth Level 7, 200 St Georges Terrace Perth WA 6000 Telephone (08) 9420 1111 | Facsimile (08) 9481 4712 Email perth@peet.com.au

www.peet.com.au

==> picture [100 x 32] intentionally omitted <==

4. CHANGE IN CONTROL

In the event that there is a change in control of Peet, Mr Gore will receive (subject to any necessary shareholder approval having been given):

• (i) a payment equal to 100% of his fixed annual remuneration;

• (ii) an amount (in cash or shares) equal to 100% of the maximum STI opportunity for that financial year;

• (iii) all deferred equity components of any previous STI awards which will vest immediately; and

• (iv) 100% of the maximum LTI opportunity for that financial year and all unvested equity in respect of previous years' LTI (which will be released and vest immediately).

In these circumstances, Mr Gore would not receive any other STI or LTI awards for the financial year in which the change of control occurs.

Perth | Melbourne | Brisbane Enriching lives since 1895 | Asset Manager | Land Syndicator | Fund Manager Peet Limited | ACN 008 665 834 | Australian Financial Services Licence 225772