Global Petroleum : Notice of 2016 AGM

A copy of the Company's Annual Report (including the Remuneration Report) and details of the Company's operations are available at the Company's website at http://www.globalpetroleum.com.au

This Notice of Annual General Meeting should be read in its entirety. If Shareholders are in doubt as to how they should vote, they should seek advice from their accountant, solicitor or other professional adviser prior to voting.

Notice is hereby given that the annual general meeting of shareholders of Global Petroleum Limited (Company) will be held at 11 am (EST) on Tuesday, 8 November 2016, at McCullough Robertson Lawyers, Level 11, 66 Eagle Street, Brisbane, Queensland.

The Explanatory Memorandum to this Notice provides additional information on matters to be considered at the Meeting. The Explanatory Memorandum and the Proxy Form are part of this Notice.

The Directors have determined, pursuant to regulation 7.11.37 of the Corporations Regulations 2001 (Cth), that the persons eligible to vote at the Meeting are those who are registered as Shareholders on at 7.00pm (EST) on Friday, 4 November 2016.

Terms and abbreviations used in this Notice and the Explanatory Memorandum are defined in Schedule 1.

1. Annual Report

   To table and consider the Annual Report of the Company and its controlled entities for the year ended 30 June 2016, which includes the financial report and directors' report in relation to that financial year and the auditor's report on the financial report.

2. Resolution 1 - Remuneration Report

   To consider, and if thought fit, to pass the following resolution in accordance with section 250R (2) of the Corporations Act:

   "That the Remuneration Report be adopted by the Shareholders on the terms and conditions in the Explanatory Memorandum."

   Voting Exclusion

   In accordance with section 250R of the Corporations Act, a vote on this Resolution must not be cast by, or on behalf of, a member of the Key Management Personnel whose remuneration details are included in the remuneration report, or a Closely Related Party of such member. However, a vote may be cast by such person if:

3. the person is acting as proxy and the proxy form specifies how the proxy is to vote, and the vote is not cast on behalf of a person who is otherwise excluded from voting on this Resolution as described above; or

4. the person is the Chair voting an undirected proxy which expressly authorises the Chair to vote the proxy on a resolution connected with the remuneration of

   a member of the Key Management Personnel.

5. Resolution 2 - Election of Mr Andrew Draffin as a Director

   To consider and, if thought fit, pass the following Resolution as an ordinary resolution:

   'That Mr Andrew Draffin, having been appointed a Director since the last annual general meeting to fill a casual vacancy, who retires in accordance with the Constitution and, being eligible, offers himself for election, be elected as a Director.'

6. Resolution 3 - Re-election of Director - Mr Peter Blakey

7. To consider, and if thought fit, to pass the following resolution as an ordinary resolution:

   "That, Mr Peter Blakey, who retires in accordance with the Constitution and, being eligible, offers himself for re-election, be elected as a Director."

   By Order of the Board

   DAMIEN CRONIN

   Company Secretary

   Dated: 30 September 2016