Notice freeing offer from subscription agreements defeating condition Coal of Africa Limited (Incorporated and registered in Australia) Registration number ABN 008 905 388 ISIN AU000000CZA6 JSE/ASX/AIM share code: CZA (‘CoAL or the ‘Company’) _________________________________________________________________________________ NOTICE FREEING OFFER FROM SUBSCRIPTION AGREEMENTS DEFEATING CONDITION _________________________________________________________________________________ Coal of Africa Limited (ABN 98 008 905 388) (ASX, AIM and JSE: CZA) (CoAL) refers to its offer for the entire issued and to be issued share capital of Universal Coal Plc (Universal) (the Offer) as contained in CoAL’s offer document dated 21 December 2015 as supplemented (Offer Document). Unless otherwise defined in this announcement, capitalised terms used in this announcement have the meaning given to them in the Offer Document. For the purposes of section 1019HF of the Corporations Act 2001 (Cth) (as notionally inserted by the ASIC Relief Instrument [15-1129]), CoAL gives notice that it hereby waives the condition set out in paragraph 1(e) (the Subscription Agreements having become unconditional) of Part A of Appendix VI of the Offer Document, and accordingly the Offer is now free from that Condition. The Offer remains subject to a number of conditions set out in Section 1 of Part A of Appendix VI of the Offer Document, as fully detailed in the Notice of Status of Defeating Conditions which is released at the same time as this Notice. Coal’s voting power (as defined by ASIC Relief Instrument [15-1129]) in Universal at the time of giving this notice is 94.79%. 8 July 2016 Enquiries CoAL Telephone: +27 (0)10 003 8000 David Brown, De Wet Schutte and Celeste Riekert Qinisele Resources (Proprietary) Limited (Financial Adviser Telephone: +27 (0)11 883 6358 to CoAL) Robert Philpot and Dennis Tucker Peel Hunt LLP (Nominated Adviser and Broker to CoAL) Telephone: + 44 (0)20 7418 8900 Matthew Armitt and Ross Allister Investec Bank Limited (JSE Sponsor for CoAL) Telephone: +27 (0)11 286 7000 Robert Smith and Tanya Cesare Tavistock (United Kingdom PR Adviser to CoAL) Telephone: +44 20 7920 3150 Jos Simson and Emily Fenton Date: 08/07/2016 11:33:00 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.