The Waterberg Coal Company Limited 45.88% subsidiary,Firestone Energy Limited, announces USD5.0 million fund raising ASX Release The Waterberg Coal Company Limited10 November 2014 (Incorporated in Australia) (Registration number ABN 64 065 480 453) THE WATERBERG COAL ASX: WCC | JSE: WCC | ISIN: AU000000WCC9 COMPANY LIMITED ABN 64 065 480 453 (“WCC” or “the Company”) Registered office: Level 2, 1 Walker Avenue West Perth, Western Australia 6005 Australia The Waterberg Coal Company Limited 45.88% subsidiary, Firestone Energy Limited, announces USD5.0 million fund raising. Tel:+61 8 9485 0888 Fax: +61 8 9485 0077 Please see following announcement released by Firestone Energy Limited today, 10 November 2014. South African office: Level 1, The Place, 1 Sandton Dr Sandton, 2146 Stephen Miller South Africa Executive Director and CEO Tel: +27 10 594 2240 Fax: +27 10 594 2253 Contact: Mr Stephen Miller Executive Director/CEO Or Investor relations in South Africa: Bruce Tinney +27 (83) 408 3028 E-mail: info@waterbergcoal.com.au Directors: Dr Mathews Phosa (Chairman) Stephen Miller (Executive Director and CEO) Lee Boyd (Director and Company Secretary) ASX / JSE Symbol: WCC ASX Release 10 November 2014 10 November 2014 FIRESTONE RAISES USD5,000,000 BY CONVERTIBLE NOTES ISSUE FIRESTONE ENERGY LIMITED ABN 71 058 436 794 Firestone Energy Limited (Firestone or the Company) advises that it has signed a term sheet with Four Oaks Credit Fund Limited for the provision of USD5.0 million Registered office: in new funding by way of the issue of Convertible Notes (CN), each with a current Level 2, 1 Walker Avenue West Perth, face value of ZAR0.07 (seven South African cents). Western Australia 6005 Australia Completion of the transaction is subject to execution of formal documentation and completion of due diligence by Four Oaks Credit Fund Limited. Tel:+61 8 9485 0888 Fax: +61 8 9485 0077 The funds are proposed to be drawn down over two tranches comprising USD2.7 million and USD2.3 million respectively. The Tranche 1 CN will be issued pursuant South African office: to the Company’s current 15% capacity under ASX Listing Rule 7.1 with Tranche 2 Level 1, The Place, to be issued subsequent to shareholder approval at the Company’s AGM to be 1 Sandton Dr, Sandton, 2146, held on 28 November 2014. South Africa Funds raised are to be used for advancing Firestone’s Waterberg Coal Project Tel: +27 10 594 2240 Joint Venture located in the Waterberg district of Limpopo Province, South Africa Fax: +27 10 594 2253 and for other working capital purposes. The salient terms of the issue of the Convertible Notes are as follows: Contact: 1. Principal amount is USD5,000,000; 2. Drawing over 2 Tranches, as above; Mr Stephen Miller 3. Face value of each note is ZAR0.07; Managing Director 4. Redemption to be in equivalent USD; Or 5. Coupon interest rate is 6% p.a.; Investor relations 6. PIK interest rate is 6% p.a.; and in South Africa: 7. Maturity date is 30 November 2016. Bruce Tinney +27 (83) 408 3028 The face value of each note represents a 28% premium to the prior 20 day VWAP of Firestone’s securities on the ASX. E-mail: info@waterbergcoal.net The Company is pleased to have the support of Four Oaks Credit Fund Limited to enable it to progress the Company’s Waterberg Coal Project Joint Venture. Corporate Details: Major Shareholders: Shareholders are advised to continue to exercise caution as discussions relating to The Waterberg Coal Company Ltd further funding are ongoing. Directors and Officers: Stephen Miller Non Executive Directors: Managing Director Dr Mathews Phosa (Chairman) George Oupa Magashula Edwin Leith Boyd JSE Sponsor Officers: The Standard Bank of South Africa Limited Mr Stephen Miller Managing Director Ms Amanda Matthee CFO Mr Edwin Leith Boyd Company Secretary ASX / JSE Symbol: FSE Web: www.firestoneenergy.com.au 2 Date: 10/11/2014 10:40:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.