PANAUST LIMITED ABN 17 011 065 160

Level 1, 15 James Street, Fortitude Valley, Brisbane | QLD | 4006 | Australia

PO Box 2297, Fortitude Valley Business Centre | QLD | 4006

T: +61 7 3117 2000 | F: +61 7 3846 4899 | E: info@panaust.com.au

ASX ANNOUNCEMENT

30 May 2014

Results of PanAust Limited Annual General Meeting

PanAust Limited advises that the resolutions considered at the Annual General Meeting earlier today were approved by the shareholders.

The following resolutions were passed:

Item 2: Adoption of Remuneration Report (non‐binding resolution)

THAT the Remuneration Report contained in the Directors' Report of the Company for the financial year ended 31 December 2013 be adopted.

Under the Corporations Act 2001 (Cth), this resolution is advisory only and does not bind the

Directors or the Company.

Item 3: Re‐election of Mr Garry Hounsell as a Director

THAT Mr Garry Hounsell, who retires by rotation in accordance with the Company's constitution and is eligible for election, be re‐elected as a Director of the Company.

Item 4: Re‐election of Mr John Crofts as a Director

THAT Mr John Crofts, who retires by rotation in accordance with the Company's constitution and is eligible for election, be re‐elected as a Director of the Company.

Item 5: Amendments to the Constitution of the Company

THAT the Constitution of the Company be amended as generally described in the Explanatory Statement and as detailed in the document tabled at the Annual General Meeting and initialled by the Chairman of the meeting for the purposes of identification.

In accordance with the requirements of the Corporations Act, the details of proxies submitted in relation to each resolution are detailed in Schedule 1 at the end of this announcement.

All resolutions were passed on a show of hands and no polls were conducted.

For further information contact: Mr Paul Scarr

Company Secretary

PanAust Limited

Tel: +61 7 3117 2000

Email: info@panaust.com.au

Website: www.panaust.com.au

SCHEDULE 1

Proxies received for PanAust AGM

Resolution

For

Against

Discretionary1

Abstain

Adoption of the

Remuneration Report

317,783,030 (93.63%)

20,240,631 (5.96%)

1,370,401 (0.41%)

2,446,965

Re‐election of Mr Garry Hounsell as a Director

330,598,251 (96.14%)

11,871,322 (3.45%)

1,414,932 (0.41%)

538,858

Re‐election of Mr John

Crofts as a Director

342,212,808 (99.51%)

294,446 (0.09%)

1,377,651 (0.40%)

538,458

Amendments to the Constitution of the Company

340,735,095 (99.33%)

Note 1: These proxies were to be voted in accordance with the discretion of the proxy holder.

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