RENT.COM.AU LIMITED — Capital/Financing Update 2013

Jan 22, 2013

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23 January 2013

Dear Share h older

Notice to Shareholders of Pro Rata Loyalty Option Offer

We write t o you as the registered h older of Select Explora t ion Limited ( “Select” or the “Company” ) share s ( ASX code SLT ) as at to d ay’s date.

As advised in the ASX a nnouncem e nt dated 2 November 2 012 and as detailed by the Compa n y in the re ‐ compliance prospectu s lodged by the Comp a ny on 11 S eptember 2012, Selec t is undert a king a no n renouncea b le pro‐rata offer to Eli g ible Share h olders of l o yalty optio n s each ex e rcisable at $0.35 on o r before 30 S eptember 2 015 (“ Loyalty Options ” ) at an issu e price of $ 0 .001 per Lo y alty Optio n and on th e basis of on e (1) Loyalty Option for e very two (2 ) shares held at the reco r d date (“ Offer ”).

Where the determinat i on of the entitlement o f any Eligible Sharehol d er results i n a fraction of a Loyalt y Option, such fraction will be round e d down to the nearest w hole Loyalt y Option

A prospect u s in relatio n to the Off e r was lodg e d with ASIC and ASX on 21 January 2 013 and is available o n the Compa n y’s ASX pla t form at the ASX websit e (www.asx. c om.au).

The purpos e of the Off e r is to rewa r d Sharehol d ers for thei r loyalty to t h e Compan y Select curr e ntly has th e following s h ares, optio n s and right s on issue:

.

• (a) 41,525,558 Shar e s ( b ) 3,047,731 Listed Options (c) 6,666,667 Loyal t y Options ( d ) 2,000,000 Incen t ive Options ( e ) 50,000,000 Perf o rmance Sh a res (f ) 600,000 Perfor m ance Rights

On the basis that no options are ex e rcised, or o t her securities converte d prior to th e Record Date, the Offe r is for 20,7 6 2,779 Liste d Options ( $ 0.35, 30 Se p tember 2013). The of f er will rais e up to $20 , 763 (befor e payment o f the costs a s sociated with the offer ) . Funds rai s ed from th e Offer will b e used to p ay the cost s of the Offe r .

On exercis e of each Lo y alty Optio n , the holde r will be iss u ed one Sha r e and one S econdary O ption whic h has an exercise price of $0.45 and an expiry dat e of 31 Mar c h 2017.

AB N : 25 062 06 3 692 945 Wellington S treet WES T PERTH W A 6005 T: +61 8 932 2 7600 F: +6 1 8 9322 760 2 www. s electexploration.com

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The Recor d Date to determine entitlements f o r Eligible S h areholders is 5.00pm W ST on 31 J a nuary 201 3 (“ Record Date ”).

Eligible Shareholders a r e those per s ons who:

• (a) are r egistered a s a holder of Shares as a t 5.00pm (W S T time) on t he Record D ate; and ( b ) hav e a registere d address in Australia, N ew Zealand , the Repu b lic of Mauri t ius, Ireland , the C ayman Islands, the United Arab E m irates and Mozambiq u e (together the Eligible Countries ). Th e Offer is n ot being e x tended to any Shareh o lder whos e registere d add r ess is outsi d e the Eligibl e Countries.

Shareholders not satisf y ing the abo v e criteria w ill not be eli g ible to participate in th e Offer.

The Offer i s non‐reno u nceable a n d is not u n derwritten. The final amount rais e d by the O ffer will b e determine d by the am o unt of Shar e holders wh o participat e in the Offe r and the ab i lity of Direc t ors to plac e Shortfall Loyalty Optio n s. Applicati o n has been m ade to AS X for official q uotation o f the Loyalty Options.

A copy of t h e prospect u s will be se n t to Eligible Shareholde r s on 5 Febr u ary 2013.

The Company does not currently h a ve a divide n d policy, a n d no divide n ds have be e n paid by t h e Compan y since it wa s listed on A S X. No shar e holder approval is required for the O ffer.

The proposed timetabl e of the Offer is as follo w s:

Lodgem Append ent of Pros ix 3Bgiven pectus with to ASX ASIC and pr ovision of c opies to ASX	21 Janua ry 2013
Notice sent to eligi ble sharehol ders	23 Janua ry2013
Existing Sharesquo ted on an "e x" basis	24 Janua ry2013
Record Date	31 Janua ry2013
Prospe Shareh ctus and Ent olders itlement an d Acceptanc e Form desp atched to El igible	5 Februa ry 2013
Closing Date*	5.00pm (W 20 Februa ST) on ry2013
Loyalty Optionsqu oted on a de ferred settle ment basis	21 Februa ry2013
ASX no tified of und er subscript ions	25 Februa ry2013
Anticip ated date fo r allotment and issue of the Loyalty Options**	26 Februa ry2013
Anticip ated date fo r despatcho f holding sta tements**	27 Februa ry 2013
Deferre d settlemen t tradingen ds**	27 Februa ry2013
Anticip ated date of commence ment of Loy altyOptions trading**	28 Februa ry2013
Shortfa ll Settled	28 Februa ry2013
Anticip ated date fo r allotment and issue of the Shortfa ll Options**	1 Marc h 2013

• Subject to th e Listing Rules, the Directors rese r ve the right to e x tend the Closin g Date for the Offer. Any extensi o n of the Closin g Date will have a consequential e ffect on the anti c ipated date for a llotment and is s ue of the Loyalt y Options.

** Indicative date only.

You are en c ouraged to read the pr o spectus lod g ed with th e ASX on 21 J anuary 201 3 in full bef o re making a decision in respect of t h e Offer. If you wish to participate in the Offer , you shoul d follow the d irections i n the Entitle m ent and A c ceptance F o rm and sec t ion 2 of th e Prospectus. This lette r is to infor m you of th e Offer. You are not req u ired to do anything in r e spect to thi s letter.

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The direct o rs of Select recommen d that if yo u are in dou b t as to the value of th e Offer the n you shoul d contact yo u r financial advisor.

For further information on the Offer:

• (a) visit the Compa n y’s website at www.sel e ctexplorati o n.com

• ( b ) see the Compa n y’s prospe c tus lodged with ASIC and ASX o n 21 Januar y 2013, an d avai l able at ww w .asx.com.a u ; or

(c) con t act the Company Secretary on +61 8 9322 7600 between 8. 3 0am and 5.00pm (WST ) Mo n day to Friday.

Yours Sincerely

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Ian Macliver Chairman