THORNEY TECHNOLOGIES LTD — Remuneration Information 2011

Dec 19, 2011

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AUSTRALIAN RENEWABLE FUELS LIMITED ABN 66 096 782 188 Level 5, 409 St Kilda Road Melbourne VIC 3004 TEL: +61 (3) 9981 0010 FAX: +61 (3) 9981 0020 www.arfuels.com.au

20 December 2011

ASX Limited Exchange Centre, 20 Bridge Street Sydney NSW 2000

REMUNERATION OF MANAGING DIRECTOR

Australian Renewable Fuels (ASX: ARW) provides the following details in relation to the remuneration package for Mr Andrew White, Managing Director of ARW.

Total package comprises Fixed Annual Remuneration (FAR) of salary + super and variable at-risk performance based Short Term Incentives (STI) and Long Term Incentive (LTI) options, as follows:

• FAR $300,000 plus superannuation at 9%

STI 75% of FAR based on achievement of milestones as agreed by the Board; and 125% of FAR as a stretch target if the company attains 150% of Business Results

LTI 45 million, 3 cent options as per AGM resolution 15 Dec 2011 with Option Vesting Dates as follows:

o 1 July 2012 – 15,000,000 options o 1 July 2013 – 15,000,000 options o 1 July 2014 – 15,000,000 options

Term of contract of employment is 3 years commencing 1 July 2011 with a twelve month termination period.

The remuneration package is a market competitive base salary.

Yours Sincerely,

Andrew Metcalfe Company Secretary