TALIUS GROUP LIMITED — Remuneration Information 2015

Jul 15, 2015

16 July 2015

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ASX ANNOUNCEMENT

REDUCTION IN DIRECTOR REMUNERATION

Antilles Oil and Gas NL ( Antilles or the Company ) is pleased to advise that, in line with its goal of minimising cash outflows without affecting the efficiency of its operations, it has renegotiated a revised remuneration structure for all directors to apply to payments due from 1 April 2015.

Changes to the key terms of existing arrangements are summarised as follows:

Managing Director – Mr David Ormerod - reduction in base salary from $315,000 per annum plus superannuation to $220,000 per annum plus superannuation. Should the Company raise funds in excess of $2.8m and increase its activities substantially then the remuneration structure will revert back to the original base salary as previously disclosed.

Non-Executive Directors – Mr Jack Hamilton/Mr Gary Grubitz/Mr Damian Black – reduction in fees from $60,000 per annum to $30,000 per annum to be paid in either cash or shares (subject to shareholder approvals using a 5 day VWAP prior to the day of issue). Fees will be paid in shares in the first instance once approvals are in place from shareholders and revert to cash payments when financially prudent.

The above changes will not affect the ability of the company to deliver on its strategic intent as previously advised to the market nor will it impact the efficiency of its current operations. The Board considers it appropriate to make these adjustments in this current difficult market to preserve cash and give it the best possible opportunity to be successful in its future endeavours and would like to thank all directors for their continued 100% commitment to the Company and its shareholders.

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Level 1, 12 Kings Park Road West Perth WA 6005 PO Box 44 West Perth WA 6872

abn: 62 111 823 762 tel: +61 8 9226 4500 fax: +61 8 9226 4300 antillesoilandgas.com.au