Ann: Proposal received from Northern Gulf Petroleum, page-26

Is the offer closing on the 31st or the 27th ? F2 Subsequent events On 9 August 2018, the Company entered into an implementation agreement with Risco Energy Investments (SEA) Limited (Risco) (Implementation Agreement), under which Risco agreed to increase the offer price under the Offer to A$0.091 cash per fully paid ordinary share in the Company and extend the offer period for the Offer so that it is now scheduled to close at the close of trading on 27 August 2018. The Independent Board Committee established by the Company, concluded that the Varied Offer from Risco of A$0.091 cash per Tap share offer is in the best interest of Tap shareholders and unanimously recommended that, in the absence of a superior proposal, all Tap shareholders accept the Varied Offer. The Independent Board Committee specially noted that the increased offer price of A$0.091 per share is equal to the preferred valuation adopted by the Independent Expert in assessing the value of Tap. Subsequent to the recommendation by the Independent Board Committee, the Company made an assessment of the book value of Tap’s net assets at 30 June 2018 against the enterprise value of Tap based on the Risco revised $0.091 cash per Tap share. This comparison identified that the net assets of Tap were higher than the implied value of the Risco offer and accordingly the Company has impaired $5.3 million of the deferred tax asset.