Announcement PDF ASX RELEASE | 21 December 2015 VARIATION TO BINDING HEADS OF AGREEMENT WITH FAVOURIT GLOBAL Celsius Coal Limited (Celsius or Company) wishes to advise that the binding heads of agreement with the shareholders of Favourit Global Pty Ltd (Favourit), an online sports betting platform, to acquire 100% of the equity in Favourit (Transaction) has now been varied. The material changes are as follows: (a) the last date on which the conditions precedent must be satisfied pursuant to the Transaction has been amended to 15 March 2016 (originally 20 December 2015); and (b) the total consideration shares to be issued to Favourit’s shareholders has been amended to 60,600,000 shares (originally 57,000,000). This new figure takes into account an interim capital raising of approximately $600,000 recently undertaken by Favourit. The Company wishes to advise that the proposed Transaction timetable has been amended to the following indicative dates: Event Date Lodgement of Prospectus with the ASIC 28th January 2016 General Meeting held to approve the Transaction 28th January 2016 Opening Date of Capital Raising 1st February 2016 Closing Date of the Capital Raising 25th February 2016 Settlement of the Acquisition of Favourit 29th February 2016 Despatch of holding statements 1st March 2016 Re-compliance with Chapters 1 and 2 of the ASX Listing Rules 7th March 2016 Re-quotation of Shares (including Shares issued under the Capital Raising) on ASX 8th March 2016 Ends - Enquiries For more information, please visit www.celsiuscoal.com.au or contact Mr Ranko Matic, Company Secretary on +61 (08) 9226 4500.