Comet Ridge : 30 September 2016 Appendix 3B

Name of entity

Comet Ridge Limited

ABN

47 106 092 577

1

+Class of +securities issued or to be issued

Ordinary Fully Paid Shares

2

Number of +securities issued or to be issued (if known) or maximum number which may be issued

Up to 21,050,022 Ordinary Fully Paid Shares under the Non-Renounceable Entitlement Offer described in the announcement lodged with the ASX on 30 September 2016.

A small number of additional shares may be issued due to rounding of entitlements.

3

Principal terms of the +securities (e.g. if options, exercise price and expiry date; if partly paid

+securities, the amount outstanding

and due dates for payment; if

+convertible securities, the conversion price and dates for conversion)

Ordinary Fully Paid Shares

4

Do the +securities rank equally in all respects from the +issue date with an existing +class of quoted

+securities?

If the additional +securities do not rank equally, please state:

• the date from which they do

• the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment

• the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment

Yes

5

Issue price or consideration

$0.05 per share

6

Purpose of the issue

(If issued as consideration for the acquisition of assets, clearly identify those assets)

The net proceeds of the Entitlement Offer will be used to fund the ongoing general working capital requirements of the Company.

6a

Is the entity an +eligible entity that has obtained security holder approval under rule 7.1A?

If Yes, complete sections 6b - 6h in relation to the +securities the subject of this Appendix 3B, and comply with section 6i

No

6b

The date the security holder resolution under rule 7.1A was passed

Not Applicable

6c

Number of +securities issued without security holder approval under rule 7.1

Not Applicable

6d

Number of +securities issued with security holder approval under rule 7.1A

Not Applicable

6e

Number of +securities issued with security holder approval under rule 7.3, or another specific security holder approval (specify date of meeting)

Not Applicable

6f

Number of +securities issued under an exception in rule 7.2

Not Applicable

6g

If +securities issued under rule

7.1A, was issue price at least 75% of 15 day VWAP as calculated under rule 7.1A.3? Include the

+issue date and both values.

Include the source of the VWAP calculation.

Not Applicable

6h

If +securities were issued under rule 7.1A for non-cash consideration, state date on which valuation of consideration was released to ASX Market Announcements

Not Applicable

6i

Calculate the entity's remaining issue capacity under rule 7.1 and rule 7.1A - complete Annexure 1 and release to ASX Market Announcements

Not Applicable

7

+Issue dates

Note: The issue date may be prescribed by ASX (refer to the definition of issue date in rule 19.12). For example, the issue date for a pro rata entitlement issue must comply with the applicable timetable in Appendix 7A.

Cross reference: item 33 of Appendix 3B.

Tuesday 8 November 2016

Number

+Class

8

Number and +class of all

+securities quoted on ASX (including the +securities in section 2 if applicable)

Up to 547,300,569

Ordinary Fully Paid Shares

Number

+Class

Performance Rights

1,500,000

2,520,000

Performance Rights (expiring 31 Dec 2016)

Performance Rights (expiring 31 Dec 2017)

11

Is security holder approval required?

No

12

Is the issue renounceable or non- renounceable?

Non-Renounceable

13

Ratio in which the +securities will be offered

1:25 (one new shares for every twenty five shares held at the Record Date)

14

+Class of +securities to which the offer relates

Ordinary Fully Paid

15

+Record date to determine entitlements

7 October 2016

16

Will holdings on different registers (or subregisters) be aggregated for calculating entitlements?

Not Applicable

17

Policy for deciding entitlements in relation to fractions

Where fractions arise in the calculation of shareholders' entitlements under the Entitlement Offer they will be rounded up to the next whole number of new shares.