COMET RIDGE LIMITED

COMET RIDGE LIMITED

A.B.N 47 106 092 577

NOTICE OF ANNUAL GENERAL MEETING
AND EXPLANATORY MEMORANDUM
TO SHAREHOLDERS

Date of Meeting
Thursday 11 November 2010

Time of Meeting
11.30am (Brisbane Time)

Place of Meeting
Francis Rush Centre
277 Elizabeth Street
Brisbane Qld 4000

A Proxy Form is enclosed

Please read this Notice and Explanatory Memorandum carefully.
If you are unable to attend the Annual General Meeting please complete and return the enclosed Proxy Form in
accordance with the specified directions.

COMET RIDGE LIMITED “That, Mr Christopher Pieters, who retires in
accordance with clause 13.2 of the Constitution
A.B.N 47 106 092 577 and, being eligible for re-election, be re-elected as
a Director.”
NOTICE OF ANNUAL GENERAL
MEETING 4. Resolution 4 – Employee Performance Share
Rights Plan
Notice is hereby given that the Annual General
Meeting of Shareholders of Comet Ridge Limited To consider and, if thought fit, to pass the
A.B.N 47 106 092 577 (“the Company”) will be following resolution as an ordinary resolution:
held at the Francis Rush Centre, 277 Elizabeth
Street, Brisbane Qld 4000 on Thursday “That for the purposes of Listing Rule 7.2,
11 November 2010 at 11.30am (Brisbane time) Exception 9, an exception to Listing Rule 7.1, and
for the purpose of transacting the following for all other purposes the Shareholders approve:
business referred to in this Notice of Annual
General Meeting. (a) the Performance Share Rights Plan for
employees, (including Directors) of the
AGENDA Company known as the “Comet Ridge Limited
Employee Performance Share Rights Plan”;
ITEMS OF BUSINESS and

Financial Statements and Reports (b) the grant of Performance Rights and the
issue of ordinary shares under such Plan,
To receive and consider the financial statements of during the three (3) year period commencing
the Company for the year ended 30 June 2010 the 12 November 2010 and ending
together with the Directors’ Report and the Auditor’s 11 November 2013 (which Plan is
Report as set out in the Annual Report. summarised in the attached Explanatory
Memorandum accompanying the Notice of
1. Resolution 1 - Non Binding Resolution to Adopt 2010 annual general meeting of the
Remuneration Report Company).”

To consider and, if thought fit, to pass the For the purposes of Resolution 4:
following resolution as an ordinary resolution:
The Company will in accordance with Listing Rule 7.2
“That the Remuneration Report as set out in the Exception 9 of the Listing Rules of the ASX disregard any
Annual Report for the year ended 30 June 2010 be votes cast on Resolution 4 by anybody, including insiders
adopted.” of the Company, who may participate in the Comet
Ridge Limited Employee Performance Share Rights Plan
Note: The vote on this resolution is advisory only or any associate of anybody, including insiders of the
and does not bind the Directors or the Company. Company, who may participate in such plan.

2. Resolution 2 - Re-election of Ms Gillian Swaby as However, the Company need not disregard a vote if:-
a Director
(a) It is cast by a person as proxy for a person who is
To consider and, if thought fit, to pass the entitled to vote, in accordance with the directions
following resolution as an ordinary resolution: on the Proxy Form; or

“That, Ms Gillian Swaby, who retires in (b) It is cast by the person chairing the Meeting as
accordance with clause 13.2 of the Constitution proxy for a person who is entitled to vote, in
and, being eligible for re-election, be re-elected as accordance with a direction of the Proxy Form to
a Director.” vote as the proxy decides.

3. Resolution 3 - Re-election of Mr Christopher OTHER BUSINESS
Pieters as a Director
To deal with any other business which may be brought
To consider and, if thought fit, to pass the forward in accordance with the Constitution and the
following resolution as an ordinary resolution: Corporations Act.

For the purposes of the four (4) Resolutions, the
following definitions apply:-

“Annual Report” means the annual report of the
Company for the year ended 30 June 2010;

“ASX” means the ASX Limited A B N 98 008 624 691
and, where the context permits, the Australian

Securities Exchange operated by ASX Limited;

“Board” means the Board of Directors of Comet Ridge
Limited;

“Company” or “Comet Ridge” means Comet Ridge
Limited A.B.N 47 106 092 577;

“Constitution” means the Company’s Constitution, as
amended from time to time;

“Corporations Act” means Corporations Act 2001
(Cth);

“Directors” means the Directors of the Company;

“Explanatory Memorandum” means the explanatory
memorandum accompanying this Notice;

“Listing Rules” means the Listing Rules of the ASX;

“Notice” means this Notice of Annual General
Meeting; and

“Resolution” means a resolution contained in this
Notice.

By order of the Board

STEPHEN RODGERS
Company Secretary

Dated: 11 October 2010

How to vote  If a proxy is instructed to abstain from voting on
Shareholders can vote by either:- an item of business, they are directed not to vote
on the Shareholder’s behalf on the poll and the
 attending the meeting and voting in person or by shares that are the subject of the proxy
attorney or, in the case of corporate appointment will not be counted in calculating
Shareholders, by appointing a corporate the required majority.
representative to attend and vote; or
 Shareholders who return their proxy forms with a
 appointing a proxy to attend and vote on their direction how to vote but do not nominate the
behalf using the proxy form accompanying this identity of their proxy will be taken to have
Notice of Meeting or by submitting their proxy appointed the Chairman of the meeting as their
appointment and voting instructions by facsimile. proxy to vote on their behalf. If a proxy form is
returned but the nominated proxy does not
Voting in person (or by attorney) attend the meeting, the Chairman of the meeting
Shareholders, or their attorneys, who plan to attend will act in place of the nominated proxy and vote
the meeting are asked to arrive at the venue in accordance with any instructions. Proxy
15 minutes prior to the time designated for the appointments in favour of the Chairman of the
meeting, if possible, so that their holding may be meeting, the secretary or any Director that do
checked against the Company’s Share Register and not contain a direction how to vote will be used
attendance recorded. Attorneys should bring with where possible to support each of the
them an original or certified copy of the Power of resolutions proposed in this Notice.
Attorney under which they have been authorised to
attend and vote at the meeting.  To be effective, proxies must be lodged by
11.30am (Brisbane time) on Tuesday 9 November
Voting by a Corporation 2010. Proxies lodged after this time will be
A Shareholder that is a corporation may appoint an invalid.
individual to act as its representative and vote in
person at the meeting. The appointment must comply  Proxies may be lodged using any of the following
with the requirements of Section 250D of the methods:-
Corporations Act. The representative should bring to
the meeting evidence of his or her appointment, 1. by returning a completed proxy form in
including any authority under which it is signed unless person or by post using the pre-addressed
previously given to the Company’s Share Registry. envelope provided with this Notice to:-

Voting by Proxy The Share Registry
 A Shareholder entitled to attend and vote is Comet Ridge Limited
c/- Computershare Investor Services Pty
permitted to appoint not more than two (2) Limited
proxies. Each proxy will have the right to vote on GPO Box 242
a poll and also to speak at the meeting. MELBOURNE VIC 3001

 The appointment of the proxy may specify the or
proportion or the number of votes that the proxy
may exercise. Where more than one proxy is 2. by faxing a completed proxy form to:-
appointed and the appointment does not specify
the proportion or number of the Shareholder’s Comet Ridge Limited, on
votes each proxy may exercise, the votes will be 1800 783 447 (within Australia); or
divided equally among the proxies (i.e. where + 61 3 9473 2555 (outside Australia)
there are two proxies, each proxy may exercise
half of the votes). or

 A proxy need not be a Shareholder. 3. by visiting:-

 The proxy can be either an individual or a body www.investorvote.com.au and logging in
corporate. using the control number found on the
front of your accompanying proxy form.
 If a proxy is not directed how to vote on an item
of business, the proxy may vote, or abstain from Intermediary Online subscribers
voting, as they think fit.
(Institutions/Custodians) may lodge their
 Should any resolution, other than those specified
in this Notice, be proposed at the meeting, a proxy instruction online by visiting
proxy may vote on that resolution as they think
fit. www.intermediaryonline.com

The proxy form must be signed by the
Shareholder or the Shareholder’s attorney.

Proxies given by corporations must be executed
in accordance with the Corporations Act. Where
the appointment of a proxy is signed by the
appointer’s attorney, a certified copy of the
Power of Attorney, or the Power itself, must be
received by the Company at the above address,
or by facsimile and by 11.30am (Brisbane time)
on Tuesday 9 November 2010. If facsimile
transmission is used, the Power of Attorney must
be certified.

Shareholders who are entitled to vote
In accordance with Regulations 7.11.37 and
7.11.38 of the Corporations Regulations 2001,
the Board has determined that a person’s
entitlement to vote at the Annual General
Meeting will be the entitlement of that person
set out in the Register of Shareholders as at
7.00pm (Sydney Time) on 9 November 2010.

COMET RIDGE LIMITED

A B N 47 106 092 577

EXPLANATORY MEMORANDUM

This Explanatory Memorandum is intended to provide Shareholders with sufficient information to assess the merits of
the Resolutions contained in the accompanying Notice of Annual General Meeting of Comet Ridge Limited
(“Comet Ridge” or the “Company”).

FINANCIAL STATEMENTS AND REPORTS General Meeting one-third of the Directors, or, if their
number is not a multiple of three, then such number
The first item of the Notice of Annual General Meeting as is appropriate shall retire from office to ensure that
deals with the presentation of the consolidated annual no Director holds office for more than three (3) years.
financial statements of the Company for the financial Ms Swaby therefore, retires from office in accordance
year ended 30 June 2010 together with the Directors’ with this requirement and submits herself for re-
Declaration and Report in relation to that financial election.
year and the Auditor’s Report on those financial
statements. Shareholders should consider these Ms Swaby was appointed a Director on 9 January
documents and raise any matters of interest with the 2004. She has over 29 years experience in the
Directors when this item is being considered. Australian resources industry. She specializes in the
areas of corporate secretarial practice, corporate law,
No resolution is required to be moved in respect of accounting, and financial management.
this item.
Ms Swaby has a Bachelor of Business in Accounting
Shareholders will be given a reasonable opportunity at and is a Fellow of the Charted Institute of Secretaries.
the Annual General Meeting to ask questions and
make comments on the accounts and on the business, Ms Swaby is the principal of a corporate consulting
operations and management of the Company. company and a past Chair of the Western Australia
Council of Charted Secretaries of Australia and a
The Chairman will also provide Shareholders a former Director on their National Board.
reasonable opportunity to ask the Auditor questions
relevant to: The Directors (with Ms Gillian Swaby abstaining)
recommend that you vote in favour of the Resolution.
 the conduct of the audit;
 the preparation and content of the Independent RESOLUTION 3 - RE-ELECTION OF MR CHRISTOPHER
PIETERS
Audit Report;
 the accounting policies adopted by the Company The Company’s Constitution provides that at every
General Meeting one-third of the Directors, or, if their
in relation to the preparation of accounts; and number is not a multiple of three, then such number
 the independence of the Auditor in relation to as is appropriate shall retire from office to ensure that
no Director holds office for more than three (3) years.
the conduct of the audit. Mr Pieters therefore, retires from office in accordance
with this requirement and submits himself for re-
RESOLUTION 1 - ADOPTION OF REMUNERATION election.
REPORT
Mr Pieters was appointed to the Board on 16 April
In accordance with Section 250R(2) of the 2009, subsequent to the merger with Chartwell Energy
Corporations Act the Company is required to present Limited. In accordance with Clause 13.5 of the
to its Shareholders the Remuneration Report as Constitution, Mr Pieters must stand for election at the
disclosed in the Company’s 2010 Annual Report. The first General Meeting following his appointment.
vote on the Resolution is advisory only and does not
bind the Directors or the Company. The Mr Pieters is the Managing Director and Co-founder of
Remuneration Report is contained in the Annual Walcot Capital, a private venture capital business
Report and is also available on the Company’s specialising in energy investment. Prior to that he was
website: www.cometridge.com.au the Chief Commercial Officer of Sunshine Gas Limited,
where he was a key member of the team that built the
RESOLUTION 2 - RE-ELECTION OF MS GILLIAN SWABY
AS A DIRECTOR

The Company’s Constitution provides that at every

Company before its takeover by Queensland Gas Further information about the Employee Plan is set
Company Limited in 2008. out below. A copy of the full terms and conditions of
the Employee Plan can be obtained by contacting the
Mr Pieters also held other technical and business Company.
development roles whilst at Sunshine Gas Limited.
Reasons for the new Plan
Mr Pieters holds both Bachelor of Science (Geology)
and Bachelor of Business degrees from the University In order to ensure that the Company maintains its
of Queensland, and an honours degree in Petroleum objective to attract and retain its key staff, the
Geology and Geophysics from the Australian School of Company must establish schemes or programmes that
Petroleum in Adelaide. enable it to reward employees for their performance
and loyalty to the Company.
The Directors (with Mr Christopher Pieters abstaining)
recommend that you vote in favour of the resolution. The Board believes that this is a fundamental
corporate objective. Moreover, grants made to eligible
RESOLUTION 4 - EMPLOYEE PERFORMANCE SHARE employees under the Plan will provide a powerful tool
RIGHTS PLAN to underpin the Company’s employment strategy. As
well, the implementation of the Employee Plan will:
The Board has subject to approval of the Shareholders
as required by the Listing Rules, adopted a • enable the Company to recruit and retain the
Performance Share Rights Plan for employees talented people needed to achieve the Company’s
(including Directors) of the Company and is to be business objectives;
known as the “Comet Ridge Limited Employee
Performance Share Rights Plan” (referred to herein as • link the reward of key staff with the achievements
either the “Employee Plan” or “the Plan”). The of strategic goals and the long term performance
Employee Plan will replace the previous Employee of the Company;
Share Option Plan previously adopted by the Board in
August 2004. • align the financial interest of employees with
those of Shareholders; and
A review of the existing Employee Share Option Plan
identified a number of limitations in respect to the • provide incentives to employees to strive to
same including the failure of that plan to provide achieve performance markers that in turn creates
certainty as to any benefits being derived by the Shareholder value.
employee, irrespective of their individual contribution
to the Company and / or achievement of the Outline of the Employee Plan
performance hurdles put in place as a condition to the
options vesting. Further, recent changes to the Below is a brief overview of the Employee Plan and
taxation law in Australia have diminished the how the same will operate.
effectiveness of these types of plans as a tool to
increase staff motivation and provide reward to Background
employees.
Equity Incentive plans are considered to be effective
The Employee Plan is designed to increase the and are widely used in the international corporate
motivation of staff and create a stronger link between community. They provide long term incentives to staff
increasing Shareholder value and employee reward. by giving them the opportunity to obtain equity in the
Company or more simply, a financial stake in the
Additionally the Company wishes to exempt issues of success of the Company. The Board believes that the
securities under the Employee Plan from contributing opportunity to participate in the creation of equity in
towards the rolling annual limit of 15% of issued the Company is a valuable personal asset for both the
ordinary shares prescribed by Listing Rule 7.1. This staff and the Company.
limit otherwise applies to all new issues of equity
securities made without Shareholder approval. The Plan provides for the issue of Performance Rights
(“Performance Rights”) which, upon determination by
Shareholder approval of the Employee Plan is the Board, that the performance conditions attached
therefore sought under Listing Rule 7.2, Exception 9, to the Performance Rights have been met are
whereby Shareholders may approve in advance the convertible into ordinary shares in the Company.
issue of securities made under the Employee Plan as
exception to the limit under Listing Rule 7.1. The Board intends to implement the Employee Plan by
way of initial participation under the rules of the
No securities have been issued to date under the proposed Plan.
Employee Plan and the Plan has not been previously
approved by Shareholders. Participation

The eligible participants under the Employee Plan are
full time employees and permanent part-time

employees (including Directors) of the Company and performance conditions attaching to the Performance
its subsidiaries. Right. Notwithstanding, and subject of Listing Rules,
the Board may, at its discretion reduce or waive the
As part of the Company’s strategy, the Board wishes performance conditions in whole or in part.
to be in a position to issue Performance Rights under
the Employee Plan to employees (including Directors), Number of Performance Rights
to achieve the objectives outlined above. The Plan does not set a maximum number of ordinary
shares that maybe made available to any one
In accordance with the requirements of the Listing participant, the Board may determine the persons
Rules, prior Shareholder approval will be required who are eligible to participate in the Plan and simply
before any of the Directors or a related party of the qualifying as an eligible participant does not qualify an
Company can participate in the Employee Plan. employee for terms of Performance Rights. The Board
may stipulate the terms and conditions on which
Performance Criteria offers of Performance Rights are made, including but
not limited to the maximum number of Performance
Well aware of general concerns that Shareholders may Rights for which an eligible participant may apply,
have, the Board has sought to ensure that the equity performance conditions, expiry date, the amount
based reward for employees is intrinsically linked with payable (if any) for the grant of a Performance Right
the success of performance conditions. Performance circumstances in which the Performance Rights will
Rights granted under the Plan will be subject to lapse and any other terms and conditions applicable
performance conditions as determined by the Board which the Board determines. Performance Rights held
from time to time and for each particular participant. by a participant are personal to the participant and
may not be exercised by any other person. A
The particulars of such performance conditions cannot participant may not dispose of or grant security over,
at the outset be definitively set, but rather will be or enter into any arrangement for the purpose of
determined on a case by case basis. These criteria are hedging or otherwise effecting their economic
likely to be matters such as length of employment, exposure to their Performance Rights.
successful operational results and/or direct increase in
Shareholder value linked to the share price of the An offer under the Plan is personal to the eligible
Company or reserve targets. participant subject to the rules of the Plan, each
Performance Right confers on its holder the
Terms of the Plan entitlement to elect to the provider with Shares (by
Entitlement Limits way of either, in the Company’s absolute discretion,
The Plan has a fixed maximum number of Shares that issue or transfer).
may be issued. The maximum number of Shares that
are issuable under the Plan when aggregated with: Term
The Performance Rights have a term of seven (7)
(i) the number of Shares which would be issued if years, or such have a term of up to a maximum of
each outstanding offer made by the Company seven (7) years, or such other term as the Board may
with respect to the Shares under an employee determine in its absolute discretion and specify.
incentive scheme were accepted or exercised (as
the case may be) and; Lapse of Performance Rights
A Performance Right will lapse on the earlier of:-
(ii) the number of Shares issued during the previous
five years pursuant to this Plan or any other 1. expiry date;
employee incentive scheme,
2. the date that is 30 days after the participant
will not exceed 5% of the total number of issued ceases to be an employee of the Company
Shares as at the time of the Offer. In performing this making a determination that the performance
calculation, no regard will be made to any offer made, has elapsed; or
or option acquired or Share issued as a result of:
3. the participant or the participants’ estate
(i) an offer to a person situated at the time of receipt becomes bankrupt or commits an act of
of the offer outside Australia; bankruptcy.

(ii) an offer that did not need disclosure under Part In special circumstances a Performance Right can vest
6D.2 or Part 7.9 of the Corporations Act; or where a participant ceases to be an eligible
participant. Early vesting of the Performance Right
(iii) an offer made using a Corporations Act will occur in the event that:-
compliance disclosure document or PDS.
1. the participant dies;
Consideration
No amount is payable in connection with the grant of 2. there is a change of control of the Company;
a Performance Right. The vesting of a Performance
Right is conditional on the satisfaction of the

3. the Company passes a resolution for winding Commonwealth legislation, termination and
up; suspension of the Plan. The Board may suspend or
terminate the plan at any time, provided that such
4. an order is made for the compulsory winding termination or suspension does not adversely affect
up of the Company; the then existing rights of the participants.

5. a person becomes bound and are entitled to In accordance with the requirements of Listing Rules
acquire the shares in the Company under a 7.2 Exception 9(b) the following information is
scheme of arrangement being approved; provided:-

6. a Chapter 6A of the Corporations Act event; or a. the terms of the Employee Plan has been
summarised within this Explanatory
7. the Performance Right has otherwise vested Memorandum;
under the Plan.
b. this is the first approval sought under Listing
Disqualifying Conduct Rule 7.2 Exception 9(b) with respect to the
Where, in the opinion of the Board, a participant acts Comet Ridge Employee Performance Share
fraudulently or dishonestly or in breach of the Rights Plan; and
participant’s obligations to the Company then the
Board may in its absolute discretion deem any c. a voting Exclusions Statement has been
unvested Performance Rights of the participant to included for the purposes of Resolution 4.
have lapsed.

Re-organisation of Share Capital
Other than as provided for by the Plan, participants
will not be entitled to participate in any new issue of
shares.

In the event that the Company makes a bonus issue of
shares, then the number of underlying shares over
which the Performance Rights are exercisable, will be
increased by the number of shares which the
participant would have received if the Performance
Rights had vested immediately prior to such record
date.

If there is a re-organisation of capital of the Company
then the rights of the participant will be changed to
the extent necessary to comply with the Listing Rules
applying to a re-organisation of capital at the time of
the re-organisation.

Quotation of Shares
The Company will not seek official quotation of any
Performance Rights. The Company will apply to the
ASX for quotation of shares issued on exercise of
Performance Rights if other shares of the Company
are officially quoted by ASX at that time.

Administration and Amendment of the Plan
The Plan will be administered by the Board which will
have power to determine appropriate procedures and
make regulations for the administration of the Plan
which are consistent with it subject to the Listing
Rules, the Board may, in its absolute discretion, at any
time amend any of the rules, or waive or modify the
application of any of the rules in relation to any
participant provided no amendment to the Plan
materially reduces the right of any participant in
respect of any Performance Right granted to that
participant, other than an amendment introduced to
either correct any manifest error or mistake, and the
purposes of complying with present or future State or

*S000001Q01* 000001 000 COI *S000001Q01*
MR SAM SAMPLE
FLAT 123 Lodge your vote:
123 SAMPLE STREET
THE SAMPLE HILL Online:
SAMPLE ESTATE www.investorvote.com.au
SAMPLEVILLE VIC 3030
By Mail:
Computershare Investor Services Pty Limited
GPO Box 242 Melbourne
Victoria 3001 Australia
Alternatively you can fax your form to
(within Australia) 1800 783 447
(outside Australia) +61 3 9473 2555

For Intermediary Online subscribers only
(custodians) www.intermediaryonline.com

For all enquiries call:

(within Australia) 1300 552 270
(outside Australia) +61 3 9415 4000

Proxy Form

Vote online or view the annual report, 24 hours a day, 7 days a week:

www.investorvote.com.au

Cast your proxy vote Your secure access information is:
Control Number: 999999

Access the annual report SRN/HIN: I9999999999

Review and update your securityholding PLEASE NOTE: For security reasons it is important that you keep your
SRN/HIN confidential.

For your vote to be effective it must be received by 11.30am (Brisbane time) Tuesday 9 November 2010

How to Vote on Items of Business Signing Instructions for Postal Forms

All your securities will be voted in accordance with your directions. Individual: Where the holding is in one name, the securityholder
must sign.
Appointment of Proxy Joint Holding: Where the holding is in more than one name, all of
the securityholders should sign.
Voting 100% of your holding: Direct your proxy how to vote by Power of Attorney: If you have not already lodged the Power of
marking one of the boxes opposite each item of business. If you do Attorney with the registry, please attach a certified photocopy of the
not mark a box your proxy may vote as they choose. If you mark Power of Attorney to this form when you return it.
more than one box on an item your vote will be invalid on that item. Companies: Where the company has a Sole Director who is also
the Sole Company Secretary, this form must be signed by that
Voting a portion of your holding: Indicate a portion of your person. If the company (pursuant to section 204A of the Corporations
voting rights by inserting the percentage or number of securities Act 2001) does not have a Company Secretary, a Sole Director can
you wish to vote in the For, Against or Abstain box or boxes. The also sign alone. Otherwise this form must be signed by a Director
sum of the votes cast must not exceed your voting entitlement or jointly with either another Director or a Company Secretary. Please
100%. sign in the appropriate place to indicate the office held. Delete titles
as applicable.
Appointing a second proxy: You are entitled to appoint up to two
proxies to attend the meeting and vote on a poll. If you appoint two Attending the Meeting
proxies you must specify the percentage of votes or number of
securities for each proxy, otherwise each proxy may exercise half of Bring this form to assist registration. If a representative of a corporate
the votes. When appointing a second proxy write both names and securityholder or proxy is to attend the meeting you will need to
the percentage of votes or number of securities for each in Step 1 provide the appropriate “Certificate of Appointment of Corporate
overleaf. Representative” prior to admission. A form of the certificate may be
obtained from Computershare or online at www.investorcentre.com
A proxy need not be a securityholder of the Company. under the information tab, "Downloadable Forms".

Comments & Questions: If you have any comments or questions
for the company, please write them on a separate sheet of paper and
return with this form.

GO ONLINE TO VOTE,
or turn over to complete the form

916CR_0_Sample_Proxy/000001/000001/i

MR SAM SAMPLE Change of address. If incorrect, *I9999999999*
FLAT 123 mark this box and make the
123 SAMPLE STREET I 9999999999 I ND
THE SAMPLE HILL correction in the space to the left.
SAMPLE ESTATE
SAMPLEVILLE VIC 3030 Securityholders sponsored by a

broker (reference number

commences with ’X’) should advise
your broker of any changes.

Proxy Form Please mark to indicate your directions

Appoint a Proxy to Vote on Your Behalf XX

I/We being a member/s of Comet Ridge Limited hereby appoint PLEASE NOTE: Leave this box
blank if you have selected the
the Chairman OR Chairman of the Meeting. Do not
of the Meeting insert your own name(s).

or failing the individual or body corporate named, or if no individual or body corporate is named, the Chairman of the Meeting, as my/our proxy
to act generally at the meeting on my/our behalf and to vote in accordance with the following directions (or if no directions have been given, as
the proxy sees fit) at the Annual General Meeting of Comet Ridge Limited to be held at the Francis Rush Centre, 277 Elizabeth Street,
Brisbane Qld 4000 on Thursday, 11 November 2010 at 11.30am (Brisbane time) and at any adjournment of that meeting.

Important for Item 4: If the Chairman of the Meeting is your proxy and you have not directed him/her how to vote on Item 4 below, please
mark the box in this section. If you do not mark this box and you have not directed your proxy how to vote, the Chairman of the Meeting will not
cast your votes on Item 4 and your votes will not be counted in computing the required majority if a poll is called on this Item. The Chairman of
the Meeting intends to vote undirected proxies in favour of Item 4 of business.

I/We acknowledge that the Chairman of the Meeting may exercise my proxy even if he/she has an interest in the outcome of that Item
and that votes cast by him/her, other than as proxy holder, would be disregarded because of that interest.

Items of Business PLEASE NOTE: If you mark the Abstain box for an item, you are directing your proxy not to vote on your
behalf on a show of hands or a poll and your votes will not be counted in computing the required majority.

1. Adopt Remuneration Report
2. Re-election of Ms Gillian Swaby as a Director
3. Re-election of Mr Christopher Pieters as a Director
4. Employee Performance Share Rights Plan

The Chairman of the Meeting intends to vote undirected proxies in favour of each item of business.

Signature of Securityholder(s) This section must be completed.

Individual or Securityholder 1 Securityholder 2 Securityholder 3

Sole Director and Sole Company Secretary Director Director/Company Secretary

Contact Contact Date / /
Name Daytime
Telephone
CO I
120696A