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Sic'lon 91'

Notice of initial substantial holder

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DIRecTIONS

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Implementation deed

Aquls Cariberr* Hokings (Au•) Pty Ltd

Aquis Ent*rtairnarrt Umlted

Blue Whale Er rtainmerrt Pty 1-*mlt,d

Mr tlengheng Gu

GILBERT+TOBIN

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Scheckile 7 Loan Transfar Dead

Schedi,le 8 Loan Tem,b-*lon Deed

Schedule 9 Diadoiure Material

Execudai, pege

Aft,dinerrt A T¥netatle

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Parties1

2

3

4

..: 2-1 Decembar 2018

Aquls Canborrn Hol[Inp (Aus) Pty Ltd ACN 167 934 95!2 of 21 Enar, StreetCallb=Ta ACT 2601 (ACM)

Aquil, Entaft,inment Umitid ACN 147 411 881 4 21 Binlra Street CanberraACT 2601 (Company)BILM, WIWI Entertalnment Pty Ud ACN 07 759 139 of Level 22 128 PhmpStreet Syc*tey NSW 2000 (Blue WFule)Mr Minghong Gu of Lmal 22, 126 Plilp Street Sy,bey NSW 2000 (Buyer0/1,1,»11

Background

A The Paries wish to in rtmke the Proposed Trarm*v pursuaril to wi ldl(amongsl dher #ings) Bkle wwls t as a eed to buy, and ACH has aGreed 10 ..,the Sale Shens.

8 11,0 P=-tles 1=Ya •Ened to work together and coopergta h orcler bo lpiement thevarlolm =pects of the Proposed Transack, crl the tams end c©ncllions of thisdeed

Thi pirtl.. .gre.

1 Defined terms and Interpretation

1.1 C fir,Mons In the Dictionary

Aterm or expreesion st=Ung wh a capRal lells:

(a) which li dehcl :1 the Diction ary h Scheck lle 1 (DIct onary), has the meming*van to ll In the DIctIonsy:

W) which 18 denned In 018 Co,por,Uori AIL bli & not dehd h the Ok:t oruy, has11,8 moanag given b R in the Corporations Acl: and

(c) INch Is d ed Ing,0 GST Lav, but 15 nol dehd h ti» Dictiorwy orthsCorpor•Uons Act, 1= the mearite *verl to 11 h the GST Lav.

1.2 Intorprgt=tlon

Thellterpr*ation clause h Schedule 1 8*out rules of derprstalon for ti deed.

2 Objedives and acknowledgements

2.1 Acknowledgements and oblectivei

The Paries UKIEN#edge mid agile uhat

(a) thek oblec278 m gritar# Into U,ks deed Is to Cacitt•tatielinplementaton of theProposed Tr¥,9-n; arn

Page 067

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(b) foloang Compl-,1 the sh,pholangs of the Compiq wKI be as Bot Old InScheak 1

12 TImelable

(a) The PErtle. mt* in<Jertake al reasonable end=,ou, to Inplement the ProposedTransaction substmialy In accor88nce Wth the Thnetable.

(b) The Patle, ac *edge Ute Timetable is m hicative timetable only and waConBult WIth A,111 ether raguhly h Imbs* n to

m engage•ner¢ ¥,101 Government Ager, 88 sti c:ompllance *181 meirrespective tiabiltior In Filit</1 to t, .), · de . v,¢th GovellynerkAGendes, and 81 pariculs adifidion of tile Caak Regulatory CENxitIon;and

01) achlgvng the events by theb' mipedi due dates as Bet out in theTinetmble, to tile e,Qarlt %%10*1 each Perty'= cortol.

3 Sale and price of shares

(s) ACM must 381 the Sale Sh=·= *1 BkI Vl,gle Id BkieWhale must buy th, Sale81=m frorn ACM, on Ole terms and concitioNI wt out h 0,8 Share Plar#taMMeemerit, Rdch Li hi thi agreed form attached to tif dead bi Sdieckile 3.

(b) ACH md ekli Whale agne to executa the Slwo Puchase Agreement on the d*eof this Deed.

4 Implementation steps4.1 Company's ob[Igatlons

In oornection ¥Ath the *•thficOon of the Conditions Preceder* the Company mlmt

(a) (Notice d Ileeting) prepare and despetch Uie Notice of Meethg to CompleShareholden 11 accorignce tri clause 4.3 md comma and hold the81=*tolde,8 Meeengs . cor mpl*,d Uy the T¥nelable;

(b) (Casino Ucensing Condition):

0) ,%4th1n 10 Buslness Days after the c rts of Oils deed, Wle the approvalproce86 recpimd to *ely the Cash Regu|atINy COrKI#011 and %%10*12Bile|riARS Daysof ird on of 01, approval process, provide v,rittin evidenceof the same to Blue Whale

01) provlde Blue Whals n*

0) r,*011,1 dmitB of al mate,&,1 r· .4.- ''vic , 011bmI®*114 andapplc800,1 to Govimment Agencies relath,g to the CANRegiaby Con on, prior to lodgement of Buch correepondence,21*7111-ons glid appiclo and

(8) opportnity to provide cqi;mentl In relsion to 8uch *aft= pdar tolodgimerlt and

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I act rea$or=bly and h good faith h cor Idirn any reagonatie commer6made by Bkle Wile *11*tion to 0,8 *afts 1-*red 00 In dause 4.1 (b)(1),and 11-rt * su(21 comma*m woorill*i

C ) prov e Blte W a wmh OOplls of an nialadal corimpondence andresporse. to submIBBIons and appic*no relaaN to the C-,0 R,911aioryCon(*,1 vAthhi tm, Busk,888 Day of ra#*t of such corrA«widence cfmgula18 by my Compmy GIOUp Memberorany of the* rgspec:OveRepre=Vitivi, and

M actiomonably and In good *101 In considering n re-onable co,Innentsmacle by Bkle Ktwle In relation to the corTI,pondence and re,Ponme toImm'Nons =id •ppilc ons referred to h c'80 41(b)(M. and 6*891&m rh commentl accor gly h grly proposed resporm<

(vi) Lrtless oeterw#Ba agned by Blue W 18, Am#,401 Blue Wle In goodfaah h th, *preech to r«wy,c*Ig to gly mnIMal corimpond,nce Endresponses to mlielons and *pathi rela¢N to the Cairlo RegubtoryConltion in a I nely mann,r;

provided tha the obaggdono of Ole Compeny h #118 dauge 4.1(b) awn aliblect to:

M) ACT Ginihg Law or any bona adecon delt/ c Ig#*m Inlpooed on meComparly in M-i ng by any Govefrmert Agarloy, but only to the mtstmER0118 dguee 4.2(b) fe*fle, didoeln of any inhn•* to Blue Whale M¥R]uld br=ch Eily mich confider-Ily oblgation; and

(V® clal- 3.2 of the SharB PLIC#imee Agreement

(c) (Independent EMpert):

0) as soon ss,19,0/tably practic:abla 01»rthe dato of this dead, appout OleIndependent Expert (If It has not done so betre the miA of thi r6-9;

(I) provide •1 as,13*Ence End Infam*lon rgesonably feque.ted by tleInclependent Expert In corwlection %¥Ith the pr,paration of the Indepmder£Expert'B Report (,Id sly upd- to any such report); and

(m) provide Blue Whals ¥Ath a dran of the Nep,ndent Experes Report for BkleWiale'B review (For bc*»liccuacy only); mid

(d) (comp ance with ImiI) do ever,thing remor•bly v#*1 ns pOAIr to mili, thatthe Proposld Transaction is effed* in aocordallce vvith d gppicable laws, *ldalle,= md poicy.

4.2 Blue Whate'l ot IlgItions

In conrlecallon %,401 the udif,dion of the Conatiorm Precident Bkie Whale mu:t

(a) (prepare Blue Whale Informa on and Calino Regulatory IWormation)'

0) assoon as reasonab# prmolloable aller tk c*mofm dled, prepare them-N,ale Iniorn,8tkn for blcluslon h the Notk' *Me*Ig, h accord,IceMh al ap**le lim Widucing the Colporanons Ad and the ASX ListingRlles);

Page 9

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(11) pr Mde tie Coll*,any *dil ck* of the BIue Whals informalan mco,7111,nplut,d by the Timetable Ild, aciblg ma,onably and in good rathtake libaCCOLnt d r,Bionable comments &·am 0-le Comperly and bReprelentatlves ort tho. drah:snd

* prepEn Eny Cas,70 ReF4*ry 111101171500,1 requested by he Conpally h aarnaly rrwlner;

(b) (asal nce with Notice of Meeting and culno Rigulatory Condition) prvAdeau asslittrice, coopersOon or liforn en recila d by Ule Company or itsRepresental},86 h cornecOon v,101 the preparalon oe

(1) the Nc*Ice of Me*N, lickliblg - tho draftE of the Noice of Mestbgprepued by Rie Compeny wid provIdN commaiti h a timely manner onthoee #1% and

(1) any doclsner* submls,lon or commistication to be prepgrid by theCompany In corytecion vAth the Callne Regllatory Conatior

(c) (assistanci wIA Independent Expires Repor·Q provkie any mlitgnce orlik,71, on reasonably requested by tv Company or Its Represe,Mve•, or t, theDidependerlt EJcpert ki conneaSon v th the prep *lon of Ole Independent Expert'IReport (End Eny 1.®date or vmri on to any such report); md

(d) (coftfirmation of Blum While Information) 0 recpe*,d by 018 Corrg=ty,promptly con111711 in MS·g to till Company 0*018:

(1) Bkie Whale lumation licklded h the Notice of Ml*lig; or

® Ca,1110 Regllatory Wormailon clided h any doament slhnliaed to IG#,ernment Agency In corneclon with the Ce*10 Regllstory Con¢1110,1

is tue grld correct and not mislemcing or dicepeve h Sly material rmpect(whee,er by om lon or oU,en*Be); md

(e) (compliance with laws) do ever#Ihlg rvisongibly wlthln Its poaer er,sur, thetthe Prr -1 Trt•1,8£*10,118 elrected h accorde,Ice #01 91 sppflcable lawsreg.RMI' poic¥.

4.3 Notice of Nedng

(a) The Comperly mllat provide Blue Vhle del dmits of the Notice of Meetblg gridthe factual hbi,#I secikins relathg to Blue 'Al le In the Notice of Meelilg mcontamplated by the Tknelmble, grid conalder al reasonable commirlte from BkieWI,le wid Iti Representanvm on chzft:, provided that such commantz Inprovided tothe Compmy In a t nely rn=vier Nic,Awer h relaion k, theIndependent Expe,h Report thi Company maes no repreier#fort as to uieaxbe•* to Wilch the Independerd Expert wl receive or corINder eme cornment,).

(b) Bhle Whale n™ Mke d imonable steps bo enstn 81* tho ak» WhaleIr®,mgtion 19 bus and correct mid not millead*10 or decep ve h grly mg»ridresped MIcthor by omission orolherivise) I It Ole date It Is despathed toCompEny Sh holde,1

M If, after desp-1 d the Notlce or Meelina the Comp,ny becomes awse:

Page 010

5484-70034700 vl -1,


(1) Otat Wormidon *,cklded h the Nalce of MietN 13 or has becomemistee<Ing or decm*,0 Iii glly mailrial respect (w¢*her by omission oroe=v#Ii); or

® of hllormatort that 18 raqdred to be dgdosed b Complly Shereholdersinder sly appicable law,

00 th, Company must promptly consult ¥(01 BlueMI in good MUI as k) ther-,1 fbr, mlid form of, any 84®pleme,#sy cf*loetre to the ComFnyShafeholdera, and meke Nly such cladomse u,< li con,Idern reasonablyneco ary h ch·s r rce

(d) Blue Whale mtmt prompt Idvl,e the Company in v,riting I it becomes s#sk

0) that the Bkie Whele Ir orrn on is b,correct mieleac or deceplve In anym rial respect $41101 by ornIssion or 012,1/Ic), und prompOy pro Idethe Colinpmy Wmt sly blfor,71,80,1 r,quired to con'eet the *0,7*mislea g or dece ve sta mentn; or

01) of Worm,tlori Olst 18 requhid 19 bo d=losed to Company Sturiholde,9lilder My appilcible lav/.

(e) The pm!186 agme thst the Notice of Meeting wl contain a resper ibity 1%*fnentto tie *ect that

(1) Bkle Wh.1.18 reepoligible Rx the Blue Whale Inhmaliert and, b olemaidirnlm axt=* poidile at ##, the Comp•rly li not resportatle for myAb w. Whale Inrom,adon md clidalms my labmy fu Blue Wia18 Inforrnalaiappe=ing *1 the Notlce of Ma g; srld

(i) the Independent Expert b rgiponoble for the Indepenc Experrs Reportand none of ACH, Blue Wh818 or th, Compmy or thel respec*ve *ectorsor omcers asm nes arly respons:* For theaccuagr or cornpletenes, oftile Independent E)*ert'a Report

4.4 Casino Regulatory Condition

(a) Bkle Whale 1, reiponelle for al reemonible fees, 10¥les, Duly end olherrmonable oll of podlet Benses End cells (Inc*K*Ig legal fee< but =c*angmly cooti In Ole ria&,re of pen,Ry amoults wilch se solely and *eotly caused byme Compily), kmnred by #te Compeny or ACH (as applcable) in meak# uieapprovals necess=y b sc#Il y 018 Cagino Regtlit£xy ConcOtlon and 80 SL**1 coitgwd be s dott due and 0%*tg b 0-0 Compally or ACH (as appticable). To the exts*Buch fees, levia< ames, exper,sed md coitu arB livoked to the Com pwly, BkleWhale must pay mill =nourte to the Compely *4 5 BulinAAR Days of beklgro ined of uie relev* amol,11 md Irrvoloe

(b) For 018 avoldancs ci dodlt the P,088 =*nodedge end,ee mal the(and l, advile,8) v l mrra pond wid lame Illh the relsvurt Gove.1.nent AgerdesIn rela n to the Ca/10 Regalicry ColdOOn ¥Ath the Womt*Son rel,(*tg to BIllsWhale, Its *ectorm IN represe,180,88 p,ovtded to the Cornp ly by Bkie Wielewhich hm been prepeed by Blue Vmale. In this reeped, Bkle Whale Is resporm®lifor al mitten In respect of the Ca no RIB,la# Condlion wahln IM Gon#01,Irkicing proviting E,Id collging Cagine Re likxy Int]Iniaion 2, a t ely marner.

Page 011

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(c) 8,1/0 Whale must ti,we al ri,lionable 'teps /O en.*re /12/ 8,® Callno Regllet,ty 0 ion 18 tue and comect and not mislsedN or deceptive in any mgtitalresped (v.{heaer by ombilon or omend).

(d) Bkle Whale m.* promptly achlise Ihe Coniplri, In vmUng Ir It becom= all

0) mit gnly Cagino Regll#R 1,11,1119 1011! has provided i orhi become corrnct m»leadN or decepfve ki mly m*rial resped Mlied,er byorniseion or othen¥Ime), Bnd promptly provide ACH ¥Ath grly mfoma:lonrequired to correct the hborfect mWisc g or deceptive stz#nentll; or

01) of Illormadon that MB** to be dledold cormahl ,#m ule CasinoRegditory Conation to Gerve terrt Agendes Indler y appiligble Igw.

43 Transaction Documents

Each of ACH, the Compmy Ind Bkle Whale must dalve, b =#1 other Psty axecutmdcopies af the Shere Pirllase AO=rl,*, Lost TrEN,Bfer Deed ind logn Temilnat rtDeed on the date of this deed.

5 Board Support of Transaction6.1 Co trmation of r..comt ." f.lort, Rnd Vothg Inte tions

The Cornpmy *STal-Ii] to Bkle Whale thal eadl Irxlapendent Director has cor*med Olat '484 to the Condth Fbreced=lt Il out In dause &1(d) of the Shire Pl,chaseA eement baN ullelled Candi remaang sollat d st al times unli the Sh=mholderBMe,Ong).

(a) his or har r,commenflgliM h tespect of the Sharelv br Resok*lons le OlstCornp=ly Sh holder, vote In favow of al m=rmtiolder Resokitions at theShioholders Meeting (RecommendaUon): and

(b) he or she intanda to 44 or cauge to be voted d Company Sharesin whic he ormho It= a Relevant bit est (lf any) *1 faVOLS of the Sh=efolder Resoldlons altha&„teholder, Meethg (Voting Irrtardon),

in .ch cme In the ab,88„Ce of a Superior Proposal and Lnles. 01* nduclary (titlesrequire thin b .*Ulch,u, change or mocify th- Recommendation or Voting Imer*joIL

6.2 Maln rmnoe of Reconnm*tion, Ind Voting Intmrlons

(a) The Compaq ml* enlinthet no Indapardert Dlrector 4thdraws, disiges ormocmles a L 4 . · . ' · or Voting vi.nbon ts:10,=m·

(1) a SL®erlor Proposal 18 made; or

(H) the Independent E*art doe, rid opine (or havh,g so opined, ohar es Itsop en) AW the Proposed Trat-*loils either lair and reason•ble to the

Comperly Shareholders, or IN,Iionable bl* not fair lo ti»Non-A00001*ed Compmy Sh,reholderB): or

06) a chctor or cbscton conalder. act g in good falth and having obtabled1,g advice. mah'ry.nfydu 86*TIb,%18 a,4CP nga or modly a Reconvt*K*lon or Voth intention;

Page 012

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(b) Sublect to an Ifideper,dert Dkedor wlthavam or chE,lging the r- -44':IC,I

or V*Ing It#81100,1 where =1 axcep 011 In dmi e 5,2(a) app#89. the Comparly mustenstrB thet

0) the Notice of Me,Eing hickides st*i merrt, to the of*d Otat Otat 010 relevantCompany Oke<:cn give 01, Recor,wnendatlon End have the Vot g Ir*!lon;

(0) no pubic amoincement 18 made by the Comp=ty or the Comp=ly [)lia<108Itilch 18 liconsistert vah the Independent Oh*18 91*19 018Reco,Twnendation and having 018 Vothig Irderlion.

5.3 Consequences of chungi of Recommenc on

The ParOes admolledge end .greo thlt

(a) if an Indapendent Il'/Igbor chmges his or her Rece,nine"cl•Uon undirchm).95.2(a) tien that IMepes,der* Dbvctor Ingy also ct=lge his or her Vothg Ir¢ta/onto *Hgn v,101 the new Reconlmendaljort

(b) If a m*rity of Indepenc rt /1nx'"1 ¥*hdraw, chENIge or moc , theirRecomrrn,lidgljon In accord=·,ce wah dmise 5.2 ther party may terminate thisaveement by notice In 01 v.ritbg to the other.

6 Pre-Completion conduct and obligations8.1 Conduct of builness

(a) Sublect to dmuse 8.2, betwien the date of 0118 deed and 018 Comple«on [*14except as e*presgly asdosed ki or mill,4 or contsmplated by a TrmisactimDect,7,ent, or 08 conterzted toby Blue Whale In v,1-16% the Cornpeny must ens#,rethat

0) e-l, Comperly GrDup Mernber condllets h Exil:,au only In k ordi·larycourse: and

M no COmpeny Group Member

(A) Lnderk,kes 84 *rmacton or idjoll Which 10 I,ely to resli t in amakled adverse chop to the bial,18= d the Group;

(B) con.111(18 a reorg=i.,thi of lt,shire capltat

(C) acqukall" or lubitintaly al of the Sect'fies or the buslials orassets ormy other penon If such agq,JIBRIon wes to result in amatiM cl=,ge b 0,8 bush·,ess of the Comp*ny Group;

(D) *ges Its cor**1,4

(E) rechics# Iti share capital:

(F) puuhases, buys bad(, redesns, rellr= or giq&*83 8/ly secl,1088 hthe coplt,1 Of ItBelll Or

((3) creates sly Seculty Irderist aimi my mailt!88 specilled i l (F)diove;

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(ED the Compeny do- not

(A) amind the twins of engagentent, tanlibit, theemployment, orencounge the re*plgjori of either the Chief Exeafth Offloer orFitancial Controler, or

(B) 1*4 or agme to #4 =V 0%*cutives of the Irch./ng.-9hdWidital ulth a fole equ lent to thi Chle, ExeCUM Oflk»' orFrsdi Catoler,

00=- Ulan the CompE,ty may appda an aceng Chief El¢GCutlve Oficar Mascussed be ¥men the pertles prior to the axecution of th dled (InckKIngon such terms = chclmed); Id

(Iw) vAout kniklg the ag on in clause 6.*D of the Sh=m Purd-laseAgreement each Compe,V Group Meril er Yna,iagi Itz worki Mpl 1re emart, *1 018 orc ary colne rmimtmt ¥Ath pest practice

(b) A¢H m,4 use ItB reasonable endee,434,1 to *r»wre that to the extant posuile, my'tom.nism It h- onthe board of *actors of the Comp,rly exorrise ItB vo ing *is89 a {Irector of the Comp=ly a mamer wttlch assists the Compsly li comply*Ig¥4111 thi re*lfons Bet out in 1195 dmme 0,1 suW@ot to the Nectors stah,tory •IdAdudary dihea.

6.2 Exception, to Gondu©t of bus,1.66 resttictions

Noofig h dause 6.1 rearictz a Compmy GIoup Member trom dob,g myelbig

(a) that is ee,*emphtted *1 a Trwleacilon Docunent or the Dlicloiln &1=t lat

(b) to poy **41 or olhen,ilge setile d* brtixing thi repayment of Ole ConverttleLoan, provided W tl» CkltstaildrU Amolnt Med Lnds the Coin,ertlble Loan isno less Ulan $34,000,000 brimeclit,ly prior to the Parties Lnderidng the stepe Incktme 7.4(b);

(c) b rgagonably and prudarly impond to an emergency or asts (M.King aam=eon givl rlge to a risk of persorn kily or damage to property):

(cl) mat 18 necess=y hor my Comporly Group Member to meet its la,1 or co tructual*115. *Id#* V hout 111tnlon m. ACT (3 Ing Law

(e) thst Is a reasorzble resporze to serious mlicorwhe of 811 employee; or

(1) that 16 fuly clicloied ki v¢rltir, (wlthn the me ting of Schedule 1, clause 2(1) of0119 deed) to Blue W le (b, the O losure Mate,W) before the d.te Of 0118 deed

U Process for comptknce and coneint

84 Whale muit not urireasonably wghhold or dilzy any consent requested uiderdalze 8.1, If r,quaited by the Company. Blue Whide wS be taken to have given Itsconsent lor the Plrl' 0,a of th dguie If Bkie Whale does riot, 4*M I pirlod of Ine thatb remonable In 11» contmd of Ihe rn*tis to which the consent relles, nolfy 878Compmy *,4 It r:ft»08 18 congent in this rik•IM a remrn®68 Period of mle meanshned*§81, in the ccrt=xt of .11 em,rgenc, 04 ki my e,er,4 wal*172 holn glter behignoUOed by the Company of a propMed .clicn.

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8 Aceess and as.Na

(a) Bet-n the dgte of 0118 deed md the Completion Datt the Company muit aikwBlue W,818 and h Reprments:Ives.

(1) reasor=bio-04 normal blmiless hoUB to Senior nla„ gament ofthe Compmy Group; grid

(1) to hapect the bookB of accoult sid other rn=151,1 Inlorma#on. doCL/ine,Tti orrecords of the Compiry Group,

for the plspose of smAWN the I*Bgration of the Company 10 Oie Bale WIhalebuilneu but *UNect at 81 8,3- to the ACT GErritg L.mv.

(b) 8,1,10% the date of *118 led and the CompleOon Diti, the CompER mustpovldi Bkie Whale Wth fu mothly managements report, of the Company asBoon as they gre avalable (apectid to be on or iolmd the 1/ of eech mot).

U Conditions of Bh» Whalfs -nlm=m

(a) akle Whals may or* mordle Itl r ht of acce= Lzlder *gle 5411.

(1) Bkle WI! le has pro,Ided the Company v,Ith riesonable Mor noties of fii800888 AM Blue VI,do ilqdms MliaN lae idedly d theRopri.entath,es who en b*that right of acce= on behglf of BaleWhale);

® 00 acorn 41 not result in Ily CompE y Group Member brmeching Nly law( rang ACT Gem lig Law or any obigdon of corrfldendamy or ovierres,Iction as b clicloun of Womlation to Blue Wh,le;

(11) the Eceas MI not In the reasonable op#,lon of the Company, blerferm #010,8 concljct of the Bushnege; and

(M Blue VAlle and each Of Its Rep,Bie,-t m agree to contly nah theCompany's realor,blervqikements and fidiorm ht :Els#on to access

(b) Blue Wlimle mlit proare that al of it Reprviontgt es that an provided withaccess uncler daise EIS comply wlth Che confidlerrt ty 1*grtaldngg gel out ind.1/16.

(c) Arly exercise of the rigN of accm under 0118 dause 8.5 by Blue Whale ors,yofits Reinselltattves 18 at the Ak of Blue Whale

6.8 PTopert, matters

Ir re*leated 61 ml lg by Bkie Whale, 82 Compmy mid apply to he ACT i d *lesoffice lor a cerlcate of min*ncs pusuant to Secion 298 of thi Re,vibm MdDo pmentAgt 2007 6 CT) A dillon to 0» buicing and de opment comentscontairted h the Crm,1 Le@88 for the Property •rld 4,8 8 reaeonable ende•wi,m #1obtain such a cerlincate prior to Coll®leoon.

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7 Implementation

7.1 Tri Company'• Completion obigations

Subled to 01 Conations Preclder t behg mdiuM,d or waved End 86* While and ACHcomplying with ml #1011· CompleOon obegailonG inder the 81-188 PUChage 488mant itCompl,0011 the Compsly mut

(a) accept the k=*TAT,Irrt, 07 Mansfer del,ered Lnder dius@ 5.2(a) of the ShareKrollage Aoreement for ragi r,ton and :,Bert Bkle Whale's r=ne 1,80 theCompirly reglvtgr as the avner of the Sit. Shares

(b) dethirto Bkle V'le and ACH CB'ibid 00101$8,pst8 of al docunerS reqlired tobe axaa*,d to give elrect to the stepi •st out bl dal,88 7.4(b) of this deed;

(c) 18*U, to Blue Whale the Corrvvix Shares as cortemp##.1 by H- ..1 7.4(b)(ID*id iliert Bkli Whale's name into the Company regkninr as the ovvner of t,eConversion Shwes;

{d) deiver to Bkie Whale a hoking 'twilner In rmpeo! of Oil:

0) Sele Stses tralsfarred from ACM to Bkle Wlwk =11

M me Conversion Sh,m; and

(e) del,€r to Blue Whale and ACH =artud coplel of the Put Option Deed ascorteiltilated by diuse 10 of this deed.

7.2 Appointmeriof dirwtor.

ctb Completion ocarring (and /ny necm=y regulatory j¥rwtovmlz), U,p Compmy

(a) tille sl *ons necessaly lo appol up 10 4 perlons nonlirm,0,1 by Akle Whgle asnew 84*04 of thi Commiy and exh of iti ***dwles with efrect from ( nd81*lect to) Comple* mubjid tor

(1) Bkle WI,gle nominatlro sudi persor· In ng and provking conser*i to actSigned by Such pe om i least 5 Business Deys prior b Completion

01) auch per,one being approved by #10 M 41*t,r ¥Ath respons;bay for theread#bon of 1-,drioi h 0,8 ACT from time to tkno kr -.4.1 plgrose: sid

(b) procure til* ." c,recals of 018 Company =Id .gr*1.1_©F#lary (olher Allm up to 2chaborn nont„10,1 by ACH wfllch #1 con inue as c *9) reet,188 {Irectifsdah eff,ct from and 81*d to Compljon,

In *ach ca88 in accords,ce th thi constiti,lon of the ralav=* entky, the CorporatiorwAct ACT Garnho Law md the Wari Rul•a

7.3 Uating d Conversion Shires

The Compily mlit Imme(18£81, aner Compleoon:

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(a) lodge uth the ASX 811 Apperac 38 I t respect of R e Comer,lon Shares Gnd useal rgagonable endeevOLO, to en,in the quotation of the Come,zian Shgres onthe ASX; md

(b) noOly the ASX In accordence ¥,101 *ection 706A(5) orthe Corpor=Nons Act Omt

0) the Comertion Sherve wam luued Mlthollt cisde*Lib to Bkie Whgle underPait 6[).2 or the Corpor ons Act,

01) 88 at the d818 of atch nooce, It has compild wah:

(A) the provision, 01 Chapter 2M of the Corpor*h» Acl as R apples 10the Com»y; .d

(B) aection 674 4 the Colpora#or 4

uld Such th< the notice 00;en¥Ise cornpOem dtrl seclon 708A(6) of theCorporations Adit

7.4 Convertible Logn

(a) On 0-le da of t<* deed, ACH, the Comperly and Blue Whale must errt,r *tpi

(1) the Loart Transfar Deed to,

(4 -*,1 the 1, compiny Lom Agre=ner* and loan Converdon Deedfrom ACH to Blue Whale; End

(B) trmr#w the Conve,2,18 Le®n of in Imount ec,lai to the Oul* cingAmolmt friT, ACH to Blue Whale In =charlge fur • pgy,ilent IMmBlue Whale b ACH of $24 mllon,

Mttich as*ur,mt Ind #ineter v#11 be deemed to tnke affect folo**tg Olev*ver or saUBfaction of the Condlono Preo-nt and hnedamly prior Bthe *na It Wild, Comple*Oon Dean, midi st 81 tknes va be subfed toComplelion oca:*Ig; grid

01) the Lin Timlination Deed, 10 $ve sfkd to thi tsm*1800,1 of theIntarcomps,y Loin Agrigilent Loan Conversion Dead grld Cor,vertble1=1 ¥Ath efrect on and from #,0 comple#on of ute Bleps Sel Out h *ume7.4(b).

(b) Orl the alilgrment End transfms apecified Il dalme 7.4(8)(1) t ng efTBct alchParly Li,dertmk- b Implement h folowb-g *pi wth Hepect to the IntercompmyLom Agreement Loan Cor er,lon Deed End Comertils Loon

0 Bkie While (m lender) must forgive th,t snount of the Convertible Lo equal to the O*ar of,

(A) $2 mmon; and

(B) Olatanloint whicil vil enK,8 mat when the CO,Ner*kn h [*.i7.4(b)® OCCUS, Bkle Wfu,le'• Ill,mhol@g h me Comp=ly /Comple# mist not exceed 88.99% d the Compeny Mo*ing theIssue of* Cort,en,lon St,res and comFiction of the #11% of the$* Shares to Blue Wizie; 4

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(11) pinu* to the terms of the Losn Corrvergion Deed:

(A) Bkie WI,Ble (m lender) munt convert #8 reNTImb*lg bghrice of tieOl*Btalcing Anklnt b the Comer,lon Shares al a price of $0-20 perCor,Ver,lon Sharer and

(8) 1010**lg 8,8 conversion by Bkie Whali under paragraph (A), bComper¥ must 199ue the Comar on Shmi u cortemplahd byclause 7.1(C),

provided ti-* Blue Whale) shareholang ht me Compilly st Completionmust not mcceed 88.99% a-#Irg me 1881» of the Cornveridon Stwei gridcompl•Oon of the #ansfer of the Sale 81=ris to Bkle Whale and folk*,*lgthe staps h 0* clause 7.4(b), the OlftslaRM Amot.4 1, zim

(c) The 1.=1 TIT adkn Deed wil taka effBct on and frum comple#on of the steps =tout h clause 7.4(b).

(d) Unle= 00-len¥», 5& ted, al aclorts reqtagd to be per*xmed by a PE,ty Lnder thisdause 7.4 are takan to *I occured almlitaneously on the Completion Dete.

8 Exclusivity8.1 No a Ing chous@lonq

0011 tian In relation to the deci.mik,18 v,Rh Blue Whale h cory,ecion ith thi ProposedTrmwadion, ad of thi Company and ACH rBprmerN and *virant to Blue Whale thK88 at the lata of tha laect

(•) r:*»r Itielf nor Eny Company Gruup Meri,ber 1, 9 per* to any agreement #81 sNd psty enteted No tr the purpoee of fac *t g a Compethg Proposat and

(b) It h= *1171*-,stid al d|Scuse|O,16 or negottz#of» vmll ariy 0*C pag thal concern, ormat colld reasor bly be ®giected to lead 10, 8 Compe ,g Proposal

8.2 No.,d,op

Dullrig the E*ck,9Mt, Psiod, each of ACM end the Company must not md mit eneuretil b Rap,psirltat es and ABBodates do not

(a) drecty or Incitedly sold< Wt:*, or tivite enquilles, disctiado= or proposals Inr*ton #1, or %,tilch may reasonably be expeolld to lged to. a CompethlgProposat of

(b) communlgaM tolly person any in rdon to do any of theolings referred to inclause 8-2(a)

8.3 lk,4.Ik

Subject to clause 8.4, d ing the ExduliM# Period, each of ACH Ind the Comparly mustnot and mist ensiwe thai Ils Represe,Itieves,nd Auociati cio not

(8) drectly or h,dr tly paric® t/In or conhe any eisell lons or n,got/Ak,18 hi1119:lon to, or which may remonably be upected to lead to, a Compet gPropoil;

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'484, .4700, /'*114


(b) provide o¢ rrzke Ev,Ilable to erly Third PE,ty who ha made, or 1, conilde,Ingmal<*u a Competag Propoid sly non-pl Ic In¢ormailon: or

(c) Commillic'*I' ll =ly per-.on arly Ir#81*lon t} do my of Ble *inga r* T.4 to '1dause &*a) or &3(b).

8.4 Flduclery exceptjon

In respect of B bona fide, Mottln Competing Proposal #,el is mi u announced Mlthoutany breach by ACH or the of IM *09*10,18 lnder tt clause 8, the Compgrlymay Lndertike any adiont!* would other*isa be prol*Ited by Cial,888 8.3 and 8.8 if theCompeiy Bo d-,1*14 adlim In good 18#11 and 819/ Maig • ce Nvm meComperly's external legal Ed f,sicial =19*011, that

(a) the Compebng Propoul ., or may reasonab y be e xpected to 1®Q d to, a SuperiorProposat and

(b) not Lnder· Ig adkn that |8 00181*88 prohmited by dause 8.3 vaS argatyreeult h Ute Compmy Direct:,rn brmict,Ir Ute* Ilduciary or stah*ory arlea.

8.5 Excipuons

NothM h bi *„02 8 pr,verrm ACH. the Compig or· itz Reprei„*diwes torn:

(0) provk/111 Inlormation to 18 RepreGantl t},0, or crecilt E "encles In the orcir/,ry andlmE coiniof business

(b) provicmg Wormation to its allditog n=toner, or Simpier, aot g h ttet czpedly,in Ihe ordlisry and (*91.1 coins of business;

(c) provt*V Wormgtion requ ed to be provided by knV or Nly Governmer* Agency; or

(d) making preseritatic,1 4 or rriporidng to enquiries from, brokers md an,ly# *1thi or*=y and usual coursed blmile,1

8.6 Notification of Comp ng Propolal

If sly Compmy Group Member. or any ofits r -: - - / 1 - regglves a CompelngProposal Men the Comp rly mlst promptly no«119 Bkle Whale of thst fmci

9 Break Fee

9.1 Background

(•) Th clauee g has been aveed b In drus,1*no= vihere:

m each Paly belimm t}* R and Its shareholders mcPor brvestorm wW derive8 flcant benefits from the hiplm,&01**lon of the Proposed Transec*ion;

M the Comparly h- Incured wid ¥,1 nisther Ilaw si trc=lt co* Incorner*,1 Vth the Propomed Trgniadon. ¥Allch ¥/1 hclude st,Wficar*OF,3*n|ty CO* If the Proposed Transitiol b not Inplementect

Page 019

DINAUOBIlWvl lili


I tte Company has rec,=tad thi provision bemade for the payment of theBreek Fee by Bkle VIiale, and would not 1-=ve er,Isted Mo thls deed hadsuch MvisicNI not bm,1 meter

Ov) Bkle Whale believes that Itis appropriate to agree to pgy the Break Feetosecure the Corrip=ly'a 5*y kiD this deed on the frns set out in thia clause8.1; and

M each P=ty has recehed Impwita ligal ad,108 h relation 1, this dead mildthi operaeon of & dause 9.

(b) The P=Ues acknoidedge end agme th,t thi coiti referred to l l C USe 9.1(8)01)arm of ch a natn hatthey c mot be predlely c,=dill,d, but that Ute BreakFee is a gern.*le and Imonable pre-eattmais of the those co-.

9.2 Piymerrt of Break Fee

(a) Slkiect to dauses 9.3 and 9.4 81110 Whali must pey to the Compwiy the BreekFee (without Det-ofr or wlthholdng) with61 5 8118#ies, biyi glter rpoelpt of a wrtliandern=,d from Ale Campgrly If grly of the 16104*Ig events ocent

(1) on thi Rilevant End Date the Cash,0 Regi ry ¢onmlon 18 riot satielled;

® * any *ne prior to the Relevsit End Dats, Bbs WI* 1, ad,lied by meACT Gamblklg Ind Recrg Commission (or celer ACT Gonrmnont AgencyWlth appropriate al*hority) t114 It 4 not obt*Ime neces=y GovernmentAgang epprovaIG to 88084 me Cauto Ragditry Condluon orthe CasinoRe,Listory Ccn*on c*h,nvlee becomes kapable of be g 52!tim ad,

and thia clwd b terin:lated h accor dailce *181 dalme 15.

9.3 Puymellt concOtions

Nobk*hatail(ing the ocamnce of any eveit rek,red to in dause 9.2, Che Bre Fee ¥imrc* be Wyable 11.

(a) COmpletion o¢ang

(b) prior to #10 sat gion of the Condtion Preceder,t h c*», 3.1(b) or tha SharePr/dme A ement, a Compelng Proposal Is

(i) racalved by ACM. the CompEny or my of thet reapectj Rip,Bee,latives orAssodil< and

® m m*lity d the Independert Directors,vi#lcbm*Ig, dtgri r or mo(11*Igtheir R .· .--.2*E:,i h accordance with dmae 6.2(a) as m 1-=l* Of OLK#1Supellor Proposal

and #tis a esnerrt 18 temill·lated In accordmce %¥101 dalme 15(•)(10;

(c) 01* th®,stl,la on of the Conc on Precede,¢ h cl"/ 11(b) of the SharePlrchase AEP narl 9 Cor,wettr Propocal Is

0) r=Ived by ACM, the Company orany of Ulak respectj,e Represerfatfves orA=oc..< Ird

Page

-47m.1


(1) the Comp ly materlally breaahes dal*8 8.3 (cm the bmli thst dause 8.4does not Ipply) In r, lon tothet Competing Proposal (other thst submilthgme Compethg Proposal b 815 Baird for lt, COnBIderation):

bd only where Blue \Mi 11= * al anes cornpied %,Ath its obegaaorts h thisdeed and the St,En Purdkase qeement h ratioon (9 the Cas*10 RegulatoryCondjon and neither th® Company nor Bkie Whale has been Bdvied by anappropriate ACT Goveilirte,lt AoIncy thal 0-18 Casino Regulatory Conci60,1 il notbe ast,0* befbre the Re[evaa End Data

(d) ACH 8111/or ths Compmly 1•= rn•ts*ly brsached a tem, of thls deed, cr any otherTrw,•00* Doasnent and auch breach hl not bem remedled ¥4011,120Business Daym of the brm to the rgasonable aaisfaction of Bkie WI,le ind BIa *ect result of such breedZ Complabi cannot ocnr, or

(e) the Share Pzmdiime 4,171* 18 term ated plnuant to dause 5.3 of 104 reement

If the Break Fee is paid to the Compfily wid Completlon ocan, tile Break Fee mist ber,Anded to Blue WInle ¥Athi l 10 BLIGhtes, Dey, IRarthi Complgtion Date

9.4 Naturi of paymerrt

The Break Fee p.yable by m,i Vmale uncler cls_»8 9-2 Is an snount to corr1p 10!e tileCompany for the folo,wing co* md =per»es:

(a) =dernmledvisory colil (excIKBU success fees):

(b) M,rnal costs such as costs of ma*ement md dkactorm' Um# risk mE,lagementcost* md cmpltal co*t<

M ouk*pocket expenses; and

(d) opportlnity costS h=red h plnu*Ig thi Proposed TI,19aclon or h not Exntingodler BAgmative acquidOons or strategic Wl*es wl,loh othen se could havebeen developed

9.6 Compliance #Ul hw

(a) 11118 dause 9 imposes oblgition, on Blue Wliale only lo the axter,l thst theper mance of 8,088 oblgaOons IS net ld.,All w held # be unir#orceatie by aCairl

01) If dause 9.5(a) appies to some oral of the Braak Pee "mou,t the Break Fee yllbe deemed to be reduced by the mlevt Enourl for the plspoce, of 0* clauie 9and, If the Break Fee has 0)84 b®in pall, the Comomy must reinnburse BlueWhale for thst inowIL

10 Put Option Deed

(a) On the Complstkn 0-, ACM, the Compmy and Blue Whale muM enter bllothePut Option Deed to give effect to thi How#I terms:

(i) 8*ke Whgle larrm a put option to ACH to sall 88 of the Optioi Sitvres tr theOpOOn Shwls PUC ,0 Plige;

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® sublect t dal= 10(a)(m), the Put Option cm be =erdsed by ACH * anyUrne for n,8 30 duy pedod Rio¥Arig 0-le Opoon Maililty Date

(Ii) ACH riuy =INg the Put Opton at any time In v,hich it h snounced thgtMe Compeq 18 deactilg frorn the Al,*Blen Sealtitles E*change: and

Ov) foic**10 the &(21(*e of 8,0 0010,1, the Company must obtain al necega=yregillatory and unreholder approwl b glve 81*d to the tander of theOption Shares from ACH h Bkie WNals,

euch doot,nentaMon being the aoreed form Put Opoon Deid *1 Scheak 6 to thisd.li

(b) To 018 extert or Eny consistancy bet en the Put Option Deed and this dause10, tlie *m, of the Put 00]On Deed preval.

11 Aquis IP Rights transitional arrangements

(a) Blue Whale acknoiledges std agnea #* IR proprletaily rights in, End good#m"i.Ung kh the A*Is IP Rights are End remabl the sole property of ACH 1010¥ingCompletiorL

(b) ACH Evarrt, to Blue Whale and me Company Grc*,p Mernbe,I B ,)017-I:QG|Ullve revocable, r· -f, f- 4, royalty See Ficence to use the Aquis P Rlgicin fw #wMelve month period folow,Ig Compl on min,Ition Period). solely lor thePilgo= of thi operation of the 8118,1888 in the orchiy colne,

(0) Blue Whaie'B u88 or each of the Aqlis IP Rights must *lctly comply %44th anydiption provkled by ACH as to Rxm, colour or othe, anct,11*ta

(d) Bkle Whale must not Muse to be regi nd or opply tr regletration of any hdem=*, corpor* or bu*ms ime bebg or Itcorpor g my of ele Aquim IPRights, or =19 *cid, nurna, mark or divlce Blketar ly Identjtal Mth erdeceplvely or mialea * or con#min* ainillf to U» 'Aqll name or Aq,18 IPRlgl-®D.

(e) Bkle Whale mustensure that prior to he end of Tran,loon Period

0) 8108 Whale and Il Compeny Group Membern pe,manently cease egly LEIS dthe ACR118 IP Rights

® th• Mme• dlic Compeny and the Compmy Group Members 818 c gedsuch thai they do not con sly r-ine v,hlch hiclkides um word 'Aquis' oram dicepthey *inuor 81<18*8, dily khlid nn-d or w,300; aid

(m) Istiess 00,en,(se agreed to in writing by ACH Or 88 provided for h 0118 deed,Bkle Whale Lmes (and proclres tha ead, Compmly Group Member UNS) alreaso ble endaivour; to Inglre that the Budfiess Is not condldsd In .way Otal represents lit it Is =sod<ad th the Aquls brand.

The rnatiarm In p*19101 0), (1) wid (11) 8180 apply at all thiles klk,dig the endof the Transition Period.

(0 Bhte While m,y tmnkwte the kence (In 80 raf as it 15 held by md ra m to u,0by Blue Wtale of the AL* IP R10*, at gly time ll Its gole and abe*tedicreton by noice In mlting to ACH

Page

848*?In4 0 vt /911'


12 Public announcements

111 Armot=,cemefit following e*,culon

Prori ptly 1010¥*Ig execulon of 11* dit, the Company wa make the Agmid PublcAwngunc.mont

112 Subeequentannouncements

(a) Subject te dmme 12.2(b), be re waktg any material pubicarnolncement Inrelloon to the Proposed Trans•*n (¥Ailtherthroug h the ASX or 00=#le), aP=ty muK provlde the other PErtles w*h a d# copy of the relevEnt porlon ofBuch puble *1.164,dica,Tieri m Boon as reasortably p,dbbio bdore R 18 proposedhitsuch pubic , lncement Is m,de, End must give theolher Pari= sreasmable opportunity to comment on the form and cont of the relevaiti porlonof such draft snolmccament and mugt take Into accout al rem,on,ble commentshum that PE,ty and Its Repre&81*=th,m on tile c*all

(b) Clause 122(a) doea not <ply to a pubOIc amolnceme t cx commiiilostlon macieby a Pgrty requhd by #w or the requ menti of a reelatory body ( clud) g tileASX and any oitor relevarlt Btock exc rlge), if tile Purty hae, If praclcable, Nruconsulted and taken Into i©ount Ole remonable reqlhr=11 of the 00,er PE,ty.

13 Representations and Warranties111 Reps,imlons and will,antile

Esch Party to 0118 deed repres=*m =,d *9118,78 018{ each of the R,110,*Ig *=faments 19true md accu*o on the dale of this deed And ¥l be #ue mci aCCLIale as at Conplak

(I) It le ddy Itcorporated l,ti v,Ndly dits under the law Of its piEe of 41(0<portion.

(b) thee,(ecuion mid delvmy of this deed has bean proporly z,Utorised by alnecessay corp ate a[Nion;

(c) It has ful corpor* po#gr and 100#fUI to=0<441, grid delver 0,18 deed a,dmtmr* and perbm or caule to be performed ia 06*,Itorm wider this

(d) 0* deed corigattes 8 18,1, v- grid b#KIng obl*ion art 4 errio,coebli kiaccor*Ice ,%*h lt, terms

(e) the execution, deareiy End pe mance of this deed does not or4 not ( th orw*hout Ute 18,Pee of Ine, the glvag i notice or both) contravene, confict wei orresult in a bm,ch of ord*ult ls,der:

0) w y provision of 18 constit on;

(R) any material tanTI or provision of Nly Beailty mi=lgernerd, indertaWng,ageement or deed bdiia It * bounct

(01) Nly Mit, ordet or k*, lon, ju*lent, or kaw to whk*, It 1, a party or 18subject or by ch it is bolzlct

Page

64-2.M-I -111


0 no Insol,ency Everit 11= ocamd In re[aUon to It;

(g) so far 8, It Is IA,11, Owe ace no facts, matian or c*cun,tances vi#]ch give anyper,on the rig lo apply to *Rldste or wind the erttity up; mci

(11) It enters irm and pelfarns 0118 cleed on its c,An accolr¢ Ind not as truBtee for or1=1*1.e of any other person.

13.2 Blue Whale warrantl=

(a) Blue Vphile r®proser*B and warrants to the Comperly thst each of the 1000%,ingstatementa il Ilus md Ical*, on Ine date of th dead md #I be tnie andacianit, 05 st Cornpietiort

0) It 18 a sophislcited or profeigional investor (8* thoie tmrm, se defined inmdions 708(8) ud 708(11) of thi Corporglong AcD =Id the Conver,lonSharm cm be luued to It without any futher *dosure or registralon LE,derany 840(able h,

(ID it is not Igqvhing the Conversion Sh,= ft,rths pupoee of seRIg orMmfert*g 9*11, or pr*Ig. Ism*tg or trmsfaning Hme,ts In, or opionso,orthem tor a period of 12 month, from the date of Completion (providedmlit Is admoNIedgid by the Company AW Ole Convorilon ShERS may betransferred b other zophi,Ocgud or professional In™tors (= thoes termsara delhod h sections 708(8) sid 708(11) of tie Corporavorts Act));

91) the Buyer Guarantbr is the,010 legal and beneficial 08'ner of 00 0¢ the sued §11[Nes DI the capital of Blue WI* and there 18 no 488,ne,Karr gement or l:1081128,1*W behveen the Buyer Gusruitor Nid any otherper,on to Mansfer such ahmi Cora benellcial btarest h such,hal,s); ariel

(M m at the C *111,66&01, prior to the dia 0011, dsed, Bkle Whale md itaW Bodles Corpor* do not have a Relevarl Inter=t h Uti CompE ty

(b) In c,kulaOng fhe Loss of the Comp,ny *I relation to a Claim, the Loss mut bereduced by my bene#It mck, 10 my T= RAID obtahable by the Company or ItBRelaied Bodies Corporum 8,1,Ing (irectly or wrindiy ftull 019 subject matter ofthmt Clalm.

133 company WafTantl=

Subject to the *9*=mons In this clause 14, tha Cornpgrly represer,(8 and wairaftz to BlueWhale that each of the folodng v¢ rrantles Is true nd acc:tizte ge at the date of thisdeed, 4 M be Oue and acclizate u st Complevorr

(a) the Accoints:

(i) were prepared h accorda ce v#, Ippicable 10#8 End 518 Accoun gSt=ld•* except to the extent asdosed *thern; and

® if gucmed. show atn.le =id fek vt,v, of or, If not aucited, present *ty thef lida poilion and atral/8 of the Group ms ut the Arrnints Date and the11,=idal perfomu•loe snd operation of the Group Ror the inancial periodardng on the Accounts Der

Page 824

34*im.47.0 0/.Im


(b) since 0,8 AcedittliA [ m, ou,v Ulan as contemplated by the TiliilwionDoasneritk

(1) no dMdend or cls:,2 ori of c,081 or Income hm been ded,red, meue,p,Id or detwmliwd to be payable h relpect or aiN 9118<8 capital Or Lni] Ofaly Company Group Member;

® no Company Group Member has Isaued my Ihares, 88((Sltje< Lnits of 10=1capital comarti,le tre shares or trilts or bought beck any Ihares or rwil MN¥1or 00,81'%488 altared or agreed to 010 #8 ehare capltat

I no Compmly Group Member has entered Into 4c**:ti or glrangement#h h shefeholders or *ry of thdr 11*ted enUOes othertise t =1 on =mYlengm *rill: and

Ov) each Company Group Membs Im ogmed on b buS*less h the orcirwy,regu !r md normal colne, no mahial *Imet hu been acqu[red or cisposedof, no malarial labily hm been lic: ed. except in the CN*Ii,y COUBe of u*le:8, no ma Brial co,Slge i *W#has .en ,cl red by.ly CompmyGa.0 Msnber;

(c) axcapt m *doeed prior to miscution of thts Nid and as far 88 the Comp.,y b0#are:

0) no Company Grolm Member is ens„ged In srly rn*Brial prosecullon,@*tion or I-*gUon proceuctigs; and

(® =ly aL,01 prooeed,1/ penlig or h--•,ed h Mlmg by or agdns: anyCompIry Group M,mber, nor any facts or c put= v*,1611 mlg!* give rise toSLch FC<88*M

(d) as far as the Com,ny b 9, e, there Is no material kie=c#1 by the Comp,ty orsly Comp=ly Group M ambe,of Ily Alitalan or forelli h or rBguIE:lonapplcible 10 #lern or order of any AL#*n or hlign Govelr inent Agenc¥ hurving11,181(lion ovs bm th,t

0) would hivothe eled of realchU the EBITDA ginerated by CCL in respedof the yes On*151 31 Decernber 2019 bekmv $1,000,000 (exck*ing al non-recurrhg costs mid =penms); or

(1) has restiltsd or codd riaeonably be expeded to rast# bl any Grknhal Oati&of any Company Group Member b7volvhg proof of Wenten or=ry 9*ninalP"tty

(e) except as (18£10884 there are no mgtlrial ingatistled judgna* -=76 *Ims orderriv„W igglist arly Company Group Msnk

(1) as far as the Comp,ty 14 8„,up, the Compmy Groupt blmirees h beenconck,*d *1 al materk,1 respects in accordince ,%101 Plicable hs, regulalorvand Au#08//knz

(g) the Comperly Gloup Im al of me 11*8,10 rilmm Allhorleations reepired toconduct thal bu*laiow and these At*horisaions se v,Rd and h good stmcing;

(h) no Security Inturests exist over Sly of the =seti ot a Company Group Memberother#m a Permitted Seculty Interest

Page

le,4400$*lmn p- I n


0) each Company Noup M=nb,rhe, up to oid kkic[IM Compleaort

0 pgld gil Tax payable lilder my Tal Law bl r-ion In my parlod or pertperiod up b md holu*lg CompleOort; md

(il) pdcl * Di*y pgyable Lnder E,ty Tax La# In relation to ary act t=-1.,dior evert or orr ion, or =1 bwizin/* =arted or performed. on or prior toCompleoon.

or has spedlicatly taken sucb Tax or [My #to aGGolnt 1 the Accounts as a Tax orDuty pr,Ailon, accrual re=ve or ao#/8,14

m each Compaly Group Member hi up 111 md **AdrU Completiort Bubtnmad thenotlces, Tix R-ne and other Wormation re*hd by I Govvrrnelit AGency forT= and [Xly *Cip to th* Compely Group Member;

(k) no Complrly Group Member 18 0,¥are of 8 Cl,Yani panc g or limetened T= orDuty au*

(1) = At 0,0 dati of this deed, the Compaiy 18 nol In breach of Itt corrt uousMdoslre obiladorm LE,de, tiv U*1ng Rules and ls not relyN M the axekldon hASX Usting Rule 3.1A to withhold any k,fo<11111lion from diolosure (other than htr*tion b Mle Prnln- Ttwleaction or as <11,*RA,1 61 v.,24 to Blue Wlf on orbelore the datB of this deed);

(m) = ir m the Company Is omare, al factual and historical InAmitIon go tzin* *1the DISCIOS,re Matarial 14 in d miterbal Imp•£11 tue. accurate and riotmldled,lg (*tolucing by omission); and

(n) the Company hi not intirtic,1.4 wthheld from the Disclogure MatBrial anythmilm whlch ACH 18 aware is male,181 for ciaclom.se to un IntencIng pl chaserof the Smle 8*rog

13.4 Nottfk=rtions

Each PENty wl promptly acivise the other Party h wrMIng If It becomee m¥ace of afty fact m*tar or clum*nce ¥Ailch cory@ *AR a b-* of my of the reprmerit,00,18 or-r=,de, given by k Litdir thle dause 13.

13.5 Reliance

(a) Bkie Whale acknowledge* Hie aia of ACH and the Compe,V haveentered 1,10this disd In reiance on the warr,Ilies glven by Bkle Wife under del»8913.1and 131

(b) ACM and the Company each acknowledge ti-=t Bk,e Wh,10 Im en¢gred Ito 0118dead In r-nce on thi wanaliles glven by each of ACH and tile Compirly inderdauses 13.1 and the w#2!witle/.

13.8 Indemnity

(a) Blue Whale b·,dannme, -cll of ACH grid the Compeny against any Loss Ai/ ACHor the Company may incur to the axtmrt c=Lied by grly breach of the warrantiesunder clm-8 13.1 and 13.2 by Blue Whale.

Page

I.111

Dec 21 2010 16:34:44 AED! Hi,r,imrE 11 i=¤n -> Fax Scruer Hi,[tcr Ellison

(b) ACH and the Comperly @adl Indetnnify Bkie Whale a"ptiny Lou Olat BkleWhale may &,cl, to the endmt cguied by any breach of the vs· Sm Inder*uie 13.1 by ACH or the Compmy.

(c) The Company deny,fies Ban WI*le wginit any Loss mal Blue WI,Ble mzy blcuror the =terl lused by ally breach of the Compmrly WE,w,Uss by me Comp .

13.7 Independent wa/rant!=

The reDreBentNions and, witie In deuee 13.1 must be construed ikipendet godtre not kitad by refbrence to another reprees-*g oi or warranty, or by reference to myother Tralsaclion [)0 nent:

118 SUIV|val

r . - - r ' : 1 0

14 Warranty limitations14*1 Milm. d clo=d

Id meffall= h *use 13.1 SUIVlve Compleaor, of this dead.

The Comp,ny Wanantes End the Compmly Incleinnity are glven eutiaotto and seqtmlfied by, md the N-ty of ute Compaiy i t respect darly brmigh of arly Corrpa,VV*N=*y w. be reduced ormdin hed (al the cage may be) to the enctarl! th<lebr,ch srls,8 h colylectlon %%1!k

(a) me tmeactions contamplitd by ar adtiorIBed by the Tr saction Deaine,di;

(b) sly rr-Im ork*mallon whloll haa been fa ly dsdosed (v40*1 them=*10 orScheck,le 1 dal*8 2(1)) 8 00 01,doeln Mierial;

(c) slything dthh Un adz,1 Imolledge of any of Blue WI·mle'm Reprelel*Eoves andad¥188,8 v*10 have bee,1 *vo ved ki Ule =am=,Ament E,ic/or rw,9,16*Gon of EheMcoritemplded by the Trar adon Docune,ItE, betre entering 818 thidee4 or

(d) any Wo stion or mate,8 thal would have been didosed to Bale Whale had Bkie*1818 wilductad *efirihes before:

(1) 12 December 2018 of reeords open to the pubk in,pecOon maintalited byASIC, ASX, IP Au,0*. the Austranit Fh*idd Seasity Al*tortty, theTIUes Office of 8-e Austrmien 08plt,1 Tertory; ariel

01) 13 Saptomber 2018 of records open the pldblic In•pection malrit*ted by the {101 Cot,t the Fede,=1 Cout ind Ute Slprerne Cout of the AL *nCapital Territory.

142 No Nabmty

The Comp,ry la 1-Kit *ble to Blue Whale kr any Clahn cr loia undv title died

(m) to the edent thet a provision or re'en,3 In re10tion to the licts' matiE'i,acurist,Incel, Tgxes or[*1188 gMng rise to the Clihi or Loss has beenapecillcaly provided for or t,lul into account or notad in the Accourll;

Page 827

2/4-//'-47/ M ...


(b) to the =ter* *wt Ole Clun or Loss EN|888 from GST v,Nd, b racovulable frorn theReciplerlt of the Supply or *or whlch an Input Tax Crecit 18 avalable lilder the GSTLav;

(c) to the e,dent thal the Cla or Lom wduld not heve Mien be for anything done ornct done r Completion by Bkle Vlisle or a R*ted Badly Corpolute of BkleWhale or 4 penon •c*la or purporting to act on behalf of Blue Whale or IRelated Body Corperata of Bkie WI le (Indkdng by any cligcto,8 appointed b theCompany Boed by Bkle Whale) *icitxing:

0) arly falln by Blue Whale er a Radded Body Corpor* of Bkle Whale afterCompletion to seek to mltlgate lts Losr or

(I) because of a Tax or Dlity-falatu pr,11-, ItbA #m or unler c*amisice ofBhte Vl,gle or a Related Body Corporate of Blue 44

(d) to the extant Ulat the Clah or the Less,vould not h=ve s,bon but for:

0) the enachnent or amenc eil of uny leglelaton or regulations; or

(i) a d,inge bl #le pr,ctce or polcy of Nly GovE,r,n# Agency,

aftar the dete of 0118 deed, hckicing legisial* ragc/,diona, =4=1*11en*interprelaaon, practice of policy that hw a Mospec#ve eflack

(e) to U,i nterrt Ulat Blue Whale or any Company Gru.p Mcm# r,covers myamolnt in re pect of the Cum or loes or kom the dramstances out of which theCln or LOSS arises from any thE Frty (*1*d g uider 80 ligurance policy);

(0 to ths adent that the Cighn or LoiS v,mild not have 188,1 but for Bertie ktomiesion, MisacUon or arrallgernent riled out It the ,%,men request or v,«h thedusl gpprovul or Bkle Whale or Ils Representlves befcn C rlpleOon; or

w) Ir 018 labllty for timt CiA c* Logs h i cor,tkigent labIRy, ullne, and In[I theHibilty li gn actuallabity and Is due and payable; or

(11) to the e#ent that the Mim or Lou arises from a Company Group Members CaltnA hic srly *lion alber Completion requ ed by, or U.d ihould r,SBonably be takenunder, 4 =ppicd® TE©c Law h relation toq Tmt or Duly or beciuse of a Taxor [k*rela Cl prous, aM,te or /7,80, drumlitance of Bkle Whale or a RelaidBody Corpor*» of Blue Whale.

14.3 Inarect or consequential loss

To the maxbm,n emx nt peniiltbd by lav, the Padles are not lable for or dth re,p* toany Ilm for breach of contract only rBcove,Ible lilderthe second Inb of Haday v88!x•id* or tbr or **h respect to my 1088 Of oppor ty, c mle to r,pul,Uort, loss Ofcustomers, loss d prollt perlaN,8 or #nes Imposed by a Government Agency grl*Ig *1connection with this dead or the Proposed n,niaction

14.4 Tax, Duty or other benefit

In c,la.:Igthu the Loss of Blue Whale in red*on In a Clin, the Lou must be recklced byany ber,efi Oniblr Ily T= Relet) obtainable by a Compsly Group Me,nber, BkieVmale or It9 Re!8 d Bodle& Corpor* ar g dr,dly or lidlec y from the Bubject xmtisof th,t Clekn.

Page 828

3-40934/0 'm.11*1


14.5 No Inducemed by the Company

(a) Blue W™le adolodedges that„ h con,(dering *dher or not to proceed wle, thePropoaed Tin,action, It Od 50 on the basis that al the Wonnotion R r,ceived tomor on behalf of the cc•™mlig 018 Compoly Grols) (B,(*1 rig -leDIGdomize Mstital) and the Busliea a(pressly exc*ded any rallance onInform#*1 given lo Flk-WI* or st* Tw*13 or reprAR=,tabons of the Compeny,other Ulan the Comp=ly Warrmules.

{b) Bkle Whale acknowledgea and repriserite and warrants to the Comp•ly th* 22wdiritand80-18 ligics and uncert*ities of the 4**y ki ¥Atich the Businessoperaimi =id t genergi econornic. regliatory and other r ks#,t Imped on orcolld Inpact ort fhe Bl= ,84 11, resdti, operations. nnancial posilon =idpr.p.*A

14.6 Notice and imearnits on Mli=

(a) Bille WI le rr,44 nottly 01• Comp ly of any Cleam It ha against lie Companyinder this deed (incili g any CWn Ax bleach or am Corr¥)ary W==Ity orNarn un* the Compoiy Indemnity), saaig out ressonable detals of the factsmailers Or Unin*,ices *Im 1198 to the breach md the nalize of #te brsach assoon as pracOcable, and i· 4 ever* 40*12 Buslms Day£ aller il becomes0,/t. afit

(b) Oth,r than In relation to Tax Clely,s, Bk• W le Ingy not make, and the Companyh, nci Mobil R,r my, Claim tor a breach of a Compmy V ,Ily or under aCompE,ly Indemrlity *ams f.1 d,tah of the Claam have been noefied to ACHWO,In 12 monthg after the Complelion [)*a.

(c) Blue Whals may not make, Ind ACH 18 riot lable Br any, T=Claim Lihis fuEdituls of the Cum have been no fied h ACH v.*h li 10(S yearB aner tileCompletion Dato.

(d) A C*irn va not be enforceable agair=t the Compeny Id le to be taken for allPwpomes 10 Illve been w«hdrawn l,11888 legal procmednt, i l connectlon ¥,101 theClaim am commencid wINi 6 months glter Blue Whh serves Miam nodge o¢the Clelm on the Comparly in aceordlince Mth clauie 21.1.

14.7 Minimum amount of Clairn

The Compeny li not lable kr any Claim Aor a breach of a Compmy #114 or inderthe Company I ,„fia Ind <mUk

(a) the m olnt f y agmed or detemthed to be peyable In raipect of Out Claimexxoeeds $102000 (e=:h such Clahn, a Permitted Warranty Cilm); 2 1

(b) the agg,Bmite amount of al Buct, Permined Warrmty Cl,ITI uceed, $300.000.

h Vich event Blue Whale may seek b r co,mr the ful am01,1 of the ClaA,8, and not)*the ec-

14.8 liu#mun nability

The Conlpanrs tod labilty for Loss allsirm h regpect of al C Ins uider or *1cormotion, th this deed Is ted in aggra,im b $5,000,000.

Page 09

1044"IMM„. ../.


14.9 Other m«tb,m

(a) Bills Whale is note iled tor,gover or obtain paymer< reinnbtrsement re*ihilonor *Idemnity more th,1 once h iMpact of my ong l ose inder or In connection#th #,ls deed.

(b) Bkie Whale wBilvee and mlle prean that *ach of # Relied Bodies Corporatewaikes al right, *ld Clgjm 8 that It may have personaly agu the curent gridlormer omoers mci en*yees of ACH und 0» Company h reialion lo Mly ma:mrd,ing divotly or chally h cornecion v,lth this deed or the ProposedTransaclon, axcept to the extent thst Ulose rights or Clians =*a out of Ue fiald,4111 migooncklct or wiA,1 defmt of m clmr# or lomer omcer or employee

(c) Each Party is Lmder a ch*y b mRIgE*B ltE 1088 in relation to arty C ri.

(d) If peyme,Tt b made lor a breach of:

(0 8 CompEny WE,1314 or linde, a Company Indennity. the payment is to beb™sted I a rwducion h the Pl,chase Price; ind

(ID a Bllyer- WEN=ty or a Buyer Indmwlity, tho peymerit 18 to be treated as anIncrame *1 thi Puohage Price.

(e) Eich c*,1111(auon and &111800,1 in this CiaL::3 14 to be Con,Bued Independently ofthe others midi is nc* Imitid by any other quallic lort or Emit*10,1

0 If my of the Company Wa,18,086 are con-act 311,10 or mbleadng. Blue Whale'sonly remedy k Inc*nlg,8 and Blue Whale maynot reidnd, #Trl , orrivolmthis deedl

15 Termination(a) This dead wlltarmklgtalt

0, the Share Purchase Atnemerlt b tennk*d in accordance with dause 8 ofU,0 00*ement or

(0) either PNty has tanni*ed th sge,mer¢ by nouce Intl» ¥*114 to theother blow*lg a malority of kneper,dert Dke*rl ¥401*mlru chm ng ormo htg the* Recommendation In accordmice with clause 5.2

(b) Cjau/0/ 4,4{9), 9 and 16 SurKve larn*lajori 0-h dou#1

16 Confidentiality

The •nns of Os doid, the negooatlons precectig thil dead Ind sny conoderlialInfomation belo*,g to ACH Grol/, the Company Group or the Bkm Wh=le Group arecoridintial and may only be asdosed by. Pirly:

(a) wRh the writa), cor:,qrt of Ute other parties;

(b) to b Relgtid Bodes Corporate End 1-x . -,'/-,b #torn (anci to the exberil bwhich) it }s nece„Iny to Midose Ole Womlation h order b properly pitiorm thet«galjow indw INs dee

Page 030

ses/-12</AM,i 0-Im


(c) Where the g,Ro,111*Uon 1188 come Into the pubic dom,In through no tallt of thatpEN-ty;

(d) as Is necess=y # 06*lerly Congenit or approvi cor*mmplated vy 0,18 deed: or

(e) as re*ired by gn a.ppocable Isw. legal proce•a, any order or rlie of AGoverr,nent Ager,cy, the ruloi o¢ a recogn[Bed sk,ck emccli,ige or h a prospectusor other docliment uh cort,ntrgql#rements prepared for a #iniiaceonhwolv g I Party,

and must Lie Its best endeaVOLKS th *151,8 •11 permlhd dls< losures se kept

17 Buyer GuarantorTlte Bllyer GllafeRIM r nierr and warran# In favow of the Compeny and ACH that

(a) he la Ihe aole legal Bnd benellcial c*mer of •11 the Imuld shEns In the caplial ofBkle Whale and then 12 no agreernerK E,rE,lgemen t er Lilderitan*Ig between theBuyor Gueral*or and sly other perzon to #1.1.ter such st:ares or beneaci,1Intarests In auch Ihi,8; Nid

(b) he wiN not at arly @ne prior to Compladort, t nekr wly ps! or al of the lagal orbeneild *Itmf,Iti ki any of the shares spedfied In clause 17(b), to an, other

The wairanty h dause 17(a) I glven at the date of this deed, and upon Completion. Thewwrar¢y In cialme 17(b) 18 given st Mie dgti Of 0118 deed.

18 Personal guarantee

18.1 con,Ider:tion

The Buyer Gunlor ac*no*ledges Olat ACH and the Compmy gre el, In rellance oil0» Buyer G#fantor inclrring obigilkii and gMng rlghts Inde, the Firalltie giventmeter thiS diuis 18 (Ule Guarant*e).

18.2 Guarantee

(8) The Buyer Gizimtor Lmoonclaortaly and Irrevocmbly gii,rent,es lo ACH mid to theCompany the due and Pli,(MI /1*inanoB by Blue Whale of* h #9*IOMLnder the Trar:BRAIon Doclnler,la, idixilg each obilgaOon to pay money (818Guarant»ed Obllgdom), up to 8 InEednlurn cap of $28,000,00a

(b) If Blue Whie fwls to perform the Gi=wil,Id OblgGOonB h ill and on Ine, eleBuyer GL=artor must comply wth the G#18#vitmed Obllgation, on demaK fromACM or from the Compmy. A climend may be made #18*her or not ACM ortheComparly h- made demand on Bkie Wh,li

lu indemnity

(a) The Buyer Glmrar*X:

(I) wwoonc onaly and Irremcably Womr,1088 ACH End the Compmy aggin,tsm, Losm or Clurn NNch may be *124 or K tained by ACH or the

Page 031

14'411'IM=,1 ./.ls


Company In connec*lon v,(th any de ult ord*y by Bkle VIiale in the dueand pln[*.1 per miance of any of the Guararteed Oblgitkll, bu*,ingNly Loss or Claim insred or al**led by ACH or the Company inconr»clion %,181 the er orcement of this GE=Wituo; Und

(11) mult pay =nour¢8 due under thbs c me 18.3 on demand from ACH Or ffemHie Company,

(b) ACH and the Company need not hcur expenze or make peyment before enforeblgthis right of mullty.

(c) The Buyer Gll//111/0r ls not Hable pirst=lt bl this emnity for any anmount /1axcess of *28,000,000.

18.4 Extent of g Lmramae and Mimnity

(0) The Buyer GLIS,ZOr iS respoluble 19 ACH and the Compmy In respect of aiaGLI,i,Ve* Obigations h the same mai'.18¢ b if the Buyer Guararibor was BlueWhale under this dead

(b) The right, +in to ACH and the Company inder this GL wrtio, and the BuyerGunuts *bay ulder k n not 8118(ted by EN-ty act amisslori or c*her 0-*lgvi,hlch might othed¥,188 affect il in 10# cr h equity bid<KIW one or more of the

0) an Insol,ency Evenl afFeceIg. penon or the death of a person:

(U) a chalge b Ote ccn*Mon, memberghip. or partnership of a pe =;

(ii) 878 partl,1 p,rion imice of the Guaranteed Obigstiona;

Ov) 018 GusEnteed Obigadum not being or*xciable at Nly Wne agina anype•mon oth,rthan the Buyer Gusantor;

(v) ACH orthe Company 98114 sly *ne or other Migence or concesdonto, compoundllg or compromi*g with, or,¥holy or pell*ly relea,IN BkleWlide or Buyer Gui,1,7tor of tollon:

(vi) sly nov*lon or a 110* of ACH or the Compmy;

(vil) aCCMescer,CB. dday, acts, ornis,Jorii of rn*gkas on the pwt or ACH or theCompWY, or

lu Paymmm

(v® the occurence of any other Ubg v#dd, 11*R 00,en,188 releas# aschsgeor *st the oblgallor,8 of the Buyer GUMarlor inder Ulls gormmert exceptto the *,10.* th•t #It 0*11 •Imo releases, dadsges or aficts theoellgatons of Blue W le to ACH or the Company.

The Buys Gus,W# mlmt make payments wider A-is diuie 18 h ful wRhout 9*Off,colnterda or conc18011 and ¥Athout any deduction or wilhholc g h rmpoct of TRNand In Inmediately avi able ftna

116 Con nulng guarantmeind Indem"14

This Cimule 18:

Page 02

*700,1 0,01=


(0) COver' th,8 5/0,/11'ent as El'Wir,ded, varied or replec'/4 vitil'Uler "Ath or VIgholi theconse,1 d #im Buyer Guer*or:

(b) 6, s pr-kic/Fil oblf"dion and 18 not to be IreedEd m encl ry or colvt,181 to motherright or obl[*ion;

(c) i: bidepe lent of and not h subst,inh,7 for or 2 18<1ad by any ovier mogullykiterest or 01=,1!ve or other doaIrier;tor agreement which ACH or the Compmymey hold concerning the Glmrs, ed Obi,lor=; •nd

(d) 18 8 COM tifIg gl.=artme and #demrey deepte any Intervening paymentmettlement or other thN and axtends to al of Btua VAile's obigglons hcorile on v,th thl, *Enirrient andi deeplta Complellon, rernairm In ful forue andeffect lor 80 long as Bale Whale has gny labiRy or oblgoton to the Seler undmth* agisment,Id Intl al of those lab NeS or obligitions have been flly

18.7 Errforcement against Buyer Guarantor

The Buyer Guwador WaiV88 8,ry right it hes of W riqi*ing ACH or the Company tocommence procm<ligi or wilorce E,ty other rlght agbid Bkie Wile or gny otherperBon be#ore c riblg from tile Suy,r Guaralltor under this Guararilee

19 Duty, costs and expenses

18.1 Duty

allie Whale must pey al [My w#Ic*1 may be payable on or h co,y,8060,1 with this doedaild Nly ap#,111* executed 10'der or In comeclion,%*11 or grly Mansacton contemptalador evidenced hy the deed.

1 U Cost, and expenses

Unless otherv,1&6 pruY+-1 41 11110 deed, each PE* mimi pay 118 0%0*n codz md e xpermsof negollaiN, prepahlg, *4 davit,g md rlgilterhg tils deed and =ly other•vee•Tnerrt or doament entered hto or signed mder this dead.

18.3 Cost, of performanci

20 GST

A Parly must ham the ,-s- 1 6 1 expenees of perfor,nm Its oblgations inder thiz dead,wiles other,%188 pro*led hi this deed.

(a) Any colilld/Cution or amolmt payable under th deed, bidkadhig any non-monetarycons deralia,1 (Corio232,1,001) 11 exclullva of GST.

(b) If GST 1, or becomes payable on a Supply made Lnder or h connection with th18deed, m ad*on,1 gmoul (Admonal Amolo,0 Is payable by the Party provkligthe Consideraion for the Supply (Reclpler,0 equal b the amount of GST payablon thgt amply as calculated by the Pady mddig the Supply (Supplle,) haccorrie,ics dth Oii GST Law.

(c) Thi AddIUonal Arnot.nt payable under datme 20(b) h ply,kle at Ole =ne UlneEd in the =me mar™r as the Comlderstion #or 018 Supply, and the Slip#er

Page 033

0,6**t»*loo,1 ..1.


must provide the Ra®iant with a Tax Involce ai g pre-condition to payment of theAck onal Amount

(d) If kx any reegon (Miclfig, V. 011 an".&.4 tle occur nce of m A*,afrnentEbs,0 thesmolmt of GST payab[8 on a Supply made Inder or h comeclon with0118 deed king into accoint my Doc:cdng or Ingea*Ig Adlustments ht relatimtothe Supply) varlee tom the A dmonal Ameld pey.ble by the Riciplent lnderclaims 20(b):

21 General

21.1 Noucu

0) the Suppler must provlde a realnd or crecit b tlie Raclptent or fhe Re®lentmust pay • Astt,= Iinoult to the Suppler, as appropria#84

(i) the rehnd, aedlt or flrther amoult (as the caze mgy be) v#11 be cakulstedby the 84]POar h mccolds,ice ¥21078 GST La¥/: ariel

01) the SuppHer muet notly the Redpieril of the refts,d, meat or *reler smourit%4@110 Builness DIVI 01t,r bu,17*Ng EN,are of the VE,lallon to the nountof GST payable. Any reftind or oaci must accompgrly such notificanon orthe Redplont muet pay any Aft,M ai,wint *Wn 5 811.&rle.. 0.9. digrreceMng sucil no fic*lon, as g#proprlate. If there is an Adlushnent Event hrelaoon to the Supply, the requirsnert furtlw SuppNer to notly the Recipimtil be suuded by the Suppler Ism,Ing lo the Redplent an A**merrt Notewithin 10 Busitees Dey, /51 becor!*Ig aware of ele fwy„rence of theA*.Dnent Event

(I) A no Con.ent approval, waiver or olher comminic=tion mit by a Party uiderthis deed (Nolcs) mnst be In v,rltl sent by an al*horlsed represerative of Biasender, marked lor the allartion oftle penon named below. End must be

0) left at, or ze,* by c=nmercial couler to, the address mt Ctrl belcM; or

(1) mar¢ by email tothe address set oul bek,w.

ACH or the Company

ed#' Amgort G laugherAddrm„ 21 Binara Streel, Canberra ACT 2801Ernst AR//,Gah*a-@cmb- ¤r en-Raxnal

with a copy (for b*xm,Uon pupoem only) 10 Nel Pathak, Glbert + Tobngt npg%100!law.com.auBlue Whale

Atts*torr Kevin Fe.1Addrms: Level 22, 128 Phlip Stelt S)*ley NSW 2000

Emat 1 tri#10!prosperity.com

(b) Subiect to dmie 21,1(6), a No008 Istaken to be received

Page 834

S45-/1 ..Im


(1) If =11 by deavesy, whon It Is d veret

® if=* by commercial cousler, 3 dayi =fts diputch;

01) Ifient by erna

W when the sender racalves arlaubornated message coi*nhg deivery:

(B) folr hours after the time Ierlt (82 recorded on the device horn •111011#I 8rnal wes 88< provided t .t the lender does not rece& =1allornalad mellge matthe emal has not been delvlr,cl,

v,hiehever h,ppen, ht

(c) If m NoOce 18 tRken to be received inder daime 21.1(b):

m before 9:00am on a &*ims Day, It wl be taken t be recdved 9£ 9:00011on Omt BUBiness Day: or

(ID alter 5:00pm on a Blminess Day oron a non-Busbless Dey, It wl be t*an tobe Izelved at 9:00En on the rn=t Bli*1888 Day.

21.2 Govorning law and jurlsaction

(a} This deed la governed by the laws of Victoria.

(b) Each Psty hivvocably 810,198 to the nori.axcluilve ]1019(100011 of the Col# ofVictoria and colitz .,790tmt to heaf appeals from thome couti.

21.3 No vp. FS, or r,Mance

(•) Each Party Billi,Aledges :7/* no Party (nor any pe,non aelh on it] behglt' hasrr mly repril•elladon or other k,duc=ner* to M to erter *tto this dead, exceptfor repr **Ik.= or *7<410*mellt, e*pre88}y set out h U,1, di,d and (to the1119)*nin Ited permmad by ho d *her repregenta orts, v.*rE,1* andcon,iltions knpled by g tute or other,44% h raAI11w to any mnitw relating to thiscleed, the chm.nst=lom E,Tounalg the Paries' erlry kto It end the tansacOonscortempisted by It 88 #pnesly *dklded

(b) Each PE,ty ackn¢paledge, end Gonnrins titat R does not e,te,Into 0118 deed In1*Iici crl Eny represen*Gen or er Inducement by or on behalf of mny otturperson, =capt tur gny representallon or Jce•nent expressly Bet out Irt this dead.

21.4 No margiI

The 11018 and oblgaGons of Ute Palles do not merge an complcdon of the ProposedTr=imsc:tion. They m,v ve them,saricn gnd deOvery of any assignnent or aterdonInent elitared WO for the pupose of impleme•*Ig the Proposed Tr=,saclon.

21.5 Walvers end consints

(a) Faare to ax rct,0 orenforce, a delay In merdsh,g or er#breng, or the parOalmroise ore,Worcernd of =iy dght po*wor remedy provided by *w or widerIds dead by G•ly Party do= not In any wiy pr**Idi, or operate 88 8 **ar of,Eny a*ercise or er*rusmerlt or Il,ther ax8rciGe or ef#orcernerlt of that or anyother 110lt powec or remedy provided by Isw or inder tlis deed.

Page 035

048.lan'.47000 ..Im


(b) Any M,199 or cormilt g#en by a Party (Blder th* diM 18 Only efroct* andb*King on that P -ty If It 18 given or cor*med Irt writ g by t t party,

(@ No **,er of • breach of eny tecm of this fhrl opaites ma niver of anotherbreach of that term or d • b,-gh of my other An of this dead.

(d) Nothing in as deed oblges a Party to exercise a right b wuve arly concttional emi of this deed Ihal may be in IM po, r,

Ce) Elocept where M deed exprmly provides olherwlsa, whern 0 con,er* of a PE fi ricurgd Inder this deed, such cor*o!* mmy be given or withheld in t Psty'sabsokrte dkER,1,1

11.8 VarliMon

This deed may only be valed by. docuiient tgned by or on behelf of each of thePEI· e=.

21.7 Assignment

A PErty may nti =mign, nov te orothenvise transfer any d Its right, or oblgaNons widerthis deed WOholl tle prior wrmen corierit of me other Parties, *4Ud, con,ent thi otherPalies m=y ve or,%40*lold In their absolute acaeloz

21.8 Sus*ms Dly

Except%4'here athe,wlis provided, wherB inder this deed the dzy on which my actm-rorth*Ig Isto bedone isa dq other than a Butinelm Day, Sue#t act rn*ter or ulngwil be done on thenext Business Day.

21.9 FL ther action

Each Party must doal 0*181, md execute al Asther do¢lmlenti nec,I,ary to give lulaffect to t!11 deed,

21.10 Entire agr ment

™s deed superaides al previol,8 89:patner;tx, Loxiefitandngs, negoliations or deedi trirespect of Ils subiect mitteM· grld embo<188 Ute entire avee,nent blh*ven the PE,les.

21.11 Severabllity

I f the whole or any part of a provision of th deid 18 vold Lnenforceable or Ilog,1 ki a11@Iscic * it h severed Rx ttlat Its&(00,1 but only to thi ®Stentmat It 18 voidlMenforceable or kgal and prOVIdi l mat It Wl have M forna and efrid h any other*Irlid<don, Where a provision (m any p,rt Ulir,00 18 88vered irt a jl [Mon, therernah,dm- of 1hli de,d wl have ful force =ld efht ki 1110: (and my 0018,) Ililsdie8011

This cl/Lme 21.11 does not apply to any mev*,nce thal 1,1,n the /„,1, rir,4 of th18deed or li c,jitri,iy to publcpolcy.

21.12 Coure,rparts

(a) This deed mmy bomalted h oly number of colslu,18:11, AN colnterpartstogether vil be tai(sn to conitt de one hetnment

(b) This dead li bhlrE on 0-le ParOes ort #te axd,=lge of uy eo(earted COINVB,peiti.

Page 836

Ill**11;43=VI 0,- I m


21.13 independent agrgement

EMher Party may take any aelion plnu# lp I 1101 or obOgallen cormacd to thls deedin their sole ballon, Brid ,%«hout Bkh,g any shlair Knion in reladon to sty Sbillmr rightor oblgaton Ising plrm,Int to,ny other Trmsaction Docimeit

21.14 Exclusivity Period

(a) The pndei aclmoiledoe and agme Wit uu ExckleMty Period mai,is (Sajed todause 21.14(b)) the period commencN on the dim of thli dged wid endiV onO* earlier of.

0) the dmi of MIT!*illion of Olls deed 10,der claie 15; and

01) Uie dgti ths! 18 12 months after 8-8 dih of this deed

(b) If Bkle Whale materialy b¢=chm In oWIg on imder the Trarmotion Documentsrelat*g to the Callno Regliato¢y Coricition, =nd 0-lat breach reasonably ceL.ml gmaterlal delay in the sult:lactton of Ute Casino Regulakxy CondlOon (or causes the¢elho Regdatory Concilia,1 lu be rcelonably l#icely to be Bahned), 0181 theExek=ivity Period d end on the eatia of.

(1) #i 08*8 of terrnklation of thia deed Lnder clause 16: and

(1) the date remonably d-mined by the Company Loon which:

(A) Ble Cashio Re latory Condtion v,ould huve been Bat fle< or

(B) 0-le Int18ter would 1- ve refus,d In provide the *,provi apedild InIlie 3.1(a) of the Share Pu·dia,e Agrwnert

but for the breach by Bille Whale; and

01) in 818 case of *38 Camino Regilioly Co,iation beconirg rieeonably Lmillelyto be BE*181104 88 soon M M **100 0,1988.

Page 037

Impl.

Dec 21 2010 16:37:48 AED! Hint=rEllisan -> Fax Scruer Hi,[tcr Ellison Page 038

Schedule 1 Dictionary & Interpretation

1 Dictionary

Accourill means the inanc 1 4*999,119<rts for the 8 mar¢h ended on the A-- -1h Ogbeand as lodged on ASX by the Compaly on 21 Alust 2018.

Account, Dati means 30 J#ne 2018.

Accounting andah m-Mi

(a) the acc=x:**Ig Midards flia,ed wider 018 Corpor®tions Act and theruquiremer,is-litthe prepara orl,nd conmnt of acco r« srld

(b) generany accept.d and consistenty .ppled pr#vi!*a and pr 1058 In Australa,en,ceptthose kro,isk,tarll %,Mth the sts:dards or r *ements referred to hpmagmph (a).

ACH Group means ACH and It, SleslcIENIes knmacidely glter Corr©letion and from timeto thne after-ds (W¢1101 wil axducle tile Company).

ACY 0*ming Law mew' •111,R, re*A' rts and adrnWstrat ve :Ir-6,• and pr-*ee ofEny Gov,/1,ner# Ageng, illich regld* Iha operati t of Ce=ble Cenberra and giningope, 0,18 h 0. ACT, [*dng the Casino Cor rol Acl

Adelonal Amotmt has the mearib,g gl,n to R In dause 20(b).

Aquis [P RIght: means al propdetgly 110,t3 4 and goodwl r,lattng to the ' ultnarne, brand, bidemerl<8. End al associ*ad krtelediia property rightB, bll e*cltilg A-leE®cluded I PRights

Agrold Publc Announcement m=, the ennouncement by the Company In thesgreed form h Schec* 5.

ABIC m=ta 0,e Austr,*art Seclsitiea =ld InveetmerAB Conlm#*4

A=octatg hao the Ine=*ig glven to Otat term h the Corpor*loris Acl

ASX meme ASX Lirrd,4 (ABN 98 008 824 891) or,where the contenrt r,cp.*,8, the6*,cld mall<Bt opera d by it kn«11 as the 'Australm Sicultes Exclmge'.

ASX LiStN Rulei me„ni the omcial [1814 rules of ASX.

Authorisition mists:

(a) =1 spproval, authori:/SE,4 con,ent, r c alir,4 In,mpacrL Icenes, r:el.rk itprl,perinit or mi#ver, however il I desated, and Ming,g my con(mion attaching toIt and

(b) 4 rel=00,1 to allyoling t nould be protubmed or resoicted by lev If a Govenner¢Aoency acti h mly way with a specifed perloct he mpiry of th# period MtioutUlst acion being tak.4

ctucing my renewil or amendineil

3454.kta-47¢ ¥1 0/- 1,6


Blue Whib Group mems Bk.5 W le Ind h SubskIEr|88.

Blui Whals Worm on m,am 111(Inigion regard* Bkle VAile or b Rehted BodiesCorpor* prilded by or on behelf of Bki, 4¥h,le to ACH Or Its Represe,Wadves forfimk•-1 h the Notice of Meeang. v*lich h,fonn=tion must bdude Wormat orn requiedthe Corporations Act the AS)( 1.*Ing Rules and al other appicable h.

Bmak Fee means $280,000.

Suilness meene the g,nInG, leistre and entartinment bull,888 operated by theCampl,ly Group = *the dia of this deed.

Bi,sine= Dgy he, t,e mea,Wig *en h Ale ASX L.*Ig Rule&

Bllyer Indlmnity means the indemnity *in by Ole Buyer to ACH and the Cctnparlymd, divie 13,6 of tile deed.

Buyer Wamntles mems the v=rs-[ties Bet out 111 clauge 13,2 or lilia deed.

Casino Regulatory Condition miwis Ute Concltion Precedle t h diuie 3,1(a) of 0,8Sher, Pl,chese AgNERM/L

Casino Rigulatory Informstion men my Information provided by Blue VI,* Arirx*,sion h any document submission or commt,Vc on to be prorsed by ACH or theCompany in Im=lior, v,101 Ole Casino ReglUory Concl ion.

CCL means ftnnirm Canberra Limilad (ACN 051 204 114).

Claim means any alegadon, c•Lme ofidlon, claim or dernain of sly r=ilze ho#,o,ver=ishig und ¥41,01er present or fihn, foced or ur,scertalned, acillal or conangenttelher at IN, Ill =*ty, wider Itatute orothenvise

Compgrly Board means the b=d of diadIn of thi Company.

Company Dirictor means a dio*lr o¢ Ute Company.

Company Group mairm, coledvely, 018 Company ald itz SubmiciENies, kid*m CCLBnd Company Grot* ilember magn, se[ of 0)em.

Coinpany Indemnity means the Memnity given by the Comparly b Bkle Whale indercimme 13.6(01

Company Shirm m=im a fuly paid orclnary shEn 11 the ampIW of 01, Compoly.

Comp ny Sh reholders means the & elidden of ele Compeny.

Coq,any Wanzntill meari 111, weriar*les Oven by the Compaly Bilc/or ACH * BkleV,11-i Lrider daime 8.1 and 111

Competing Proposal mear= I-ly c prgs,lon of hterest or h nt, propout offer,•Enern®,1, wTarprnent or tr=,sa,110,1 ( ck.*ig, by ¥ay of takeover bid or scheme ofarrange,ne,*), v¢**1 Ife,Ttgred hto or completed sub-,tlily In accordance %44th Itsterms. wolld reSUR in :

(a) a Third P=-ty (emier glone orbogeeter uh ene or morn =sodgtes) dreclly orrd#Mur

Page 839

Ill.100;000,1 ..lai


(1) acqi*Ing st Wirast Onc*KIN m economic terest by wey d m equlyNep, contract for cllierencs or mhtlir »niation or ami,gementj or aRele,vant Imnst *12096 or more of the Compmy Shiriz

(1) *00*ing, becombgthe holder of crhm,Ing a right to actum an econornicblareet * 20% c, more by valle of the Bunness, or *y of the mutorlal8888*, of the Company Group; or

(1) 0018(wise aeell#,B acc<*ing Corrtol of or mergiV w*h fhe Compeny ormy Mtier Compaq Groq Mambe, or20%ormore by viale ofmWamisti or bu,kle,6 of arly Company Grolp Msnber. whith,r by way oftakeover bid, *meme of griwiggment 81=eholder approved mag<*lion,C*]u rBdudlon, ahare bur·beck or replrchme, sale or pl,chase of ass*,jok* vellug Nver,8 tak@over. cks*istad complirly *uc:li#recapitaliation, ast=baili,imt of a new holdkto entRy for the oralher Hinthetic merger orarly othe, liI,„sc<on or arrmoemert or

(b) #le CompErly VollgAIAy caasiblg to be adiriltted to the omcial Isl of AaX or theCompeny Shems wl apply to cease to be omcimly quoted on the market operatmdby ASX; or

(c) a proposed which may 001ervise compet, *T or bi Inconsliter* h any materialrm'Ad %%«h the cormignrrvilin Of, the Proposed Trarisaliorg

whether by Mksover bld, echeme of arrmgemer* swraholder approved accMsmon.capRal reducoon, &hege burbeck or rEpurchase, sale or pise*=e Of miltl or InterestsU,Hehi jo*t venbje. reverse talteover bl4 di,Elitu compmy 8 c e,

4Ntal "' , aD;bilhment of a new holtg compirly for th, Compoly Group orother syn#*Ic mergel·, or any other megna.

Completion me complenon of the transfet of Sale Sh,i- wder 018 Shece Pll/Cl,AAE*Nment md Compll* s corriponcnng meanN.

Con*Istion Di to mean, the dgta on WNch Con*Ision ocaj,1.

Concmlons Pricident mean the con<Idom #1 Completion set od It chise 3.1 d OleSPse Pl,chame Agmement

Con,1-ratlon has 0,8 meall,g give,1 to It wid,r Glause 20(4

Control has the mean g glven hi Iedlon 50AA of the Corporaaons Act

Con¥*rmion Shar= miene the Comp,ty Shses to be laud to Bkie Whale fono*Angconversion of the Ould'.,ap Annour crlder 018 I fwn Conve,zion Dead by Bki Whale* a prlge of $0,20 per Company Shars, mci u contemplated in dause 7.1(c).

Cornvirtble Loan men Uie lom made by ACH k) the COmpaq Lilde, theIrmroompeny loan Agreement

Corporations Act meam the Como/a#ons Ac< 2001 (Cth).

Dtic!0•cn Maturtel means the informaion mid m*crial r,lamg to the Compmy Groupor the Business v,hich wia pIF/Ided to Bkie Whale er its Reprmentioves prior tomaltion of this deed, a Est of which li Muded h Schedule 9 and copien of ,¥hlch amIncluded h uie U88 Drlve.

Pal i

ISAjOnOl ¥1 pp/=


Duty means any diinp, t,niecion or rggistmtion duty or shnlard- ge hipo,id by anyGmamment Agency and inck,cle any kianit thle, penal* charge or other IneintinpoGed In mipect d my of them.

Excludod F R]ghts means thS Waledz£ property specified h Schedule 4.

Excluslvity Poriod has the m=*10 glve,1 to Unt terrn ln dause 21.14.

Govennent Agency magn, any krevt or Alistranan govelritnent or go nmental,Iemkgove,117)8ntal admbish·ative, ic=1, ***ry orWN body, dep med,cornmksion, stmortty, Mblital agency or enmy (indllang Uie ACT Gambing and RadngCon¥11188ion), or any 111 81· of the GoArt h right of the CommorA BRU, of AL,tria orIrly *ate ormnitory, or aq otherfader,1, -tm, *14, p,ovinclai local orothugover,)7181% wl*her trell or Al.18#1308,z

GST In,ene goods wid services bm ¢r shil ¥*10 addeci tax levied or Inrmp,1 ilAllsh'868 Lnder the GST Lav.

GST Lav meen, the same as 73ST la'*/' meari h 010 A New Tax System fGoods midSarviess Tax) Act 1999 (Cth).

Independent Director means Alex Ch:BM Yu Ch,4 Ru,i Shields and 1088Ica Melor.

Expert means the indepmdert expirt appointed by the Company toprep,n the IrMiepondent Experrs Report behlg SLmeN· Hd Aseock*89 Pty Lid.

Independent Expires Report mearm the report to be prepared and issued by M dependent Expsit In comecOon Mlth the Proposed Trarmadlon trincluslon In theNoOce of Mael g-

Insolvency Event means. In relation to any en ty:

(a) the errtlty reso *Ig IP.y it be ¥rund up or a cout malkng an order forthe ./,fngup or d..01 on of the entity other Ihm where Uu Ippics#on or order (as the casemay be) 18 set mide #Olin 14 days

(b) a Iquk*or, pro Onal Iq,Adabor. adm dstrator, mcalve, god managi. atatitorymaitag« cor**ror outer liolvency omcial being appolrued loths grmy or hrelation to the %%41018, or A mibilI70,1 pert Of Its aBS*, and the aetim is not*yed, v,4010rm¥n or dismissed will*, 14 den;

(c) 0-le er*ity exea*ing a deed of a),11111,!y nngement

(d) the ent|ty entar. blto . comprornke or ENTE,lgement wIR its cracitor; generaly;

(e) the s*ty 18 or becomes Inable to pay its debti when th,y W due lthln themea,WW of the Corpor*lons Ad (or, Ir mpropria* legis on of Itm place ofImporaMon) or 18 olher,Ilie Flei,I„ed to be holvent 11=der the Corporitions AdInle,8 thi erllty haB. or has access lo, mmriftted On,ncled support nom its p=¥11arinly such #74 It * abli (19 pay Itl debtE

(1) the entity Buepends or threatsts to mmpend peyment of IM debtE as and when theybecome due;

(g) M ,*y cmes or Oyea ang b cease to em y on bush=8:

Page 841

e547(m.47¢» 11 ..M


(h) the er,ity behg dere*tered as a comperly or otherwise asolved 00-ler 0-lan onaso vent bed<

0) the 01)An . lably wlie acing or Flpolliu to xt as trustme (or co*ultee)or general parber of I #zlt orp erahip Onduclig 8 1*nted par#wal®) and theparmon ti not entitled to be fuly Inct nnmed agalnet the labay out of tru6t orpartnership =s- because of one or more d Uic ¢000,#*u

0) •breach of Duat or oblostion m pertier by the pers<

® Ihe person aclag cn,Wde the xoge of Is powea = tn*Ie or par er:

(11) a lerm d le tust or partnership denying, =Imltkig. the persorfs right b bekidemn med a#151 Mie Nablty, wid

(M the assets of #,e hz< or par erst® be,ig ki,4491<lerit to cisdwge the08**ty; or

m anyo*lg analogous b *ose §01 01* In mly of parninph, (a) to (i) hdus*8 ocanIn r*#on to the person Loids the 19- of a forelvt jurisdcdoz

In*compiny Loan Agr•emerrt mins the Intercompany Loan Agreement beh¥88,1 01,ACH (as lendef) and the Compsly (as bor,08,1) da d on 4 November 2016.

Loan Conversion Deed mes= the Amended =id Re®talad Loin Corn,ersion Deadbet*een the Comparry and ACH fIN*d on 4 November 2018, pinl=* to w¢Ilch ACH mayconvert 0,8 Out*tand g Amotmt hto Cornparly 81llill,

Loan Transtir Deed means the dead to glve Iffect to the tra·Bfe, ar[1 mul melt of IheConvertlie Lom acpml to the (*st=*Anunt th, al,lgiwinent of the L=,Cor lon Deed andl Intsrmmp,Ily Loe,1 Agreement from ACH bi Bkle Whale. as *stoll In Sd,acklle 7.

Loin Termination Deed me=,a the deed to give effeet b the extkig,011,nent of theConvertible Loen and temihallort of the Loon Corrveralon Deed and Ir¢elcomperly 1-omA ement as betwee,1 th, Complty md Blue Vlille, m Bet out In Schecide 8,

Loss mem, any cost (induc*ng legal cof und expenses of whatmevi ngture ordescripdon), denkagei, ditt expense, labay or 10*; and Includes Taxes mci [**198.

Not Asioditmd Company Shariholderm meens al Company Stmreholder:, other OtanACH and Its assoc taa,

Notice has the misi*lg given in dause 21.1(a).

Notice of meang maaiw the nouce of meGIng and eXplinitory memoranckrn, tobe sued bythe Compal¥ In reapectof the Stm*lolders Meeth,g, wl,armell Compgly walseek approval for the Shar,holder ReBolutiorK

Opdon Mmnty Dats hag the mesaig *en to It h the PIll Oplon Deid.

Option Shares Purchase Price has #18 mear*tg givm to It hi the Put Opljon Dead.

Opiion Sharm hm 0-1, m=*U glmn b it &1 #,O Pli 01*10,1 Deed.

Ou Indlng Amount means Me amol,nt O**10 by #te Company lo ACH inder theConvertible Loen from mne to tkne.

Page 842

1(54-*m·41/ .


Partles meene the padies to thhs dead And a Party means each one of the.n.

Permittid 8®clnity trrtmve magn,;

(a) the seiguite' grir ad purmt,lt to the f-**Ig doasner

(1) ule General Searrlty Dead behieerl #M, Al,1*BREn Capital TerritoryGam bling Ind Rachg Commisgion, the km al 1 Cip*wi Te,Tttory andCaglno Callbura Umitad ds,ted 23 December 2014; =Id

(1) A18 Modgage bel*,en Cag )O Caduberra Limhed end 00 84,0,#m C*taiTerrthy Gambidg and R=ing Commission dated 28 JE*wity 2015, Inrampect of the property at Vollane 1255 F* 94;

(b) arlly len that arises by the ope,Eflon of 101, In the or(In n course Of bl=bless;

(c) any Sectrity Intz,rall ki ro.pextof per-Bonal property ac*An,d by, Comparly GroupMember In the orrnnary ectne of bL=*ms grlsing trom the 8818 of thal poperty hifevour of the loll of Ott property seahlg al or p,Mt of the plichale price for the

(d) any deemed sea,lity tterest Inder seclion 12(3) d #» PPS Act ¥Alch does notBeclie payment or parfamifice of an obigation.

PPS Act meix A-le Per,on,/ Prope,ty Sootrimes Ad 2009 (Cth).

Propoied Tmneaction means the

(a) the MENIBIBr of the Sale 81=am torn ACM to Blue WI<

(b) me granung of the Put 09*jon by Blue Wlwle lo ACH;

(c) the Wn,mir of the Convertitle Loert, malvmlert and ti,78<81 of the MarcompmyLoan A,Bernslt Bld loan Cor'version Deed from ACH to Bkle Whale:

(cl) u-e ftx+eness of a proporGon of the Ck®,tixlm Amoult In accord=xe v,ithclause 7.4(b)(1);

(e) Ole conimfilon of the 102*1 L.nderthe I.om ¢orrver,lon Deed by Blue Whale itoConversion Stes and the Issue of such Cor,version Shgfis to Blue Whale l lacoordance Mth datme 7.4(b)(1);

M the Immallon of #le Irtarcornp y Loan Agreement =,d Lom Conver,lon Deect

(g) 0,8 other 62,-ctions cor mplatad Inder INs dead

Ait Opnon molril Ole opOon grantad by Blue Whlil b ACH to 881 the Option SheriInder the Put Option De,d.

Put Option Deed meails the dead to give *cl to the Put OpOM as set out 118chedule

Reclplent has the mearng given h diule 20(b).

Recommendation hi the meark,g given to Itln dause 5.1(a).

Page 843

3464.19034700¥1 pll.


Relat»d Body Corpo,* hes the meaning given In secion 50 d tho Cor-po 1O08 Act

Relevant End Diti has the meaning given ill the Slice Pu:cham AQ,Bement

Relevant Int,rest has the mear,Ing glwn *1 Idor,3 608 and 809 of the Corporstion,

Reprvientative means, h respect of •Party, gn winployee. agent, omcer, dreckx,adviser or Mimic:ier of or lo that Pa,ty (or a Related Body Corpor*8 of that Party). md, diOle case or a<Msan and r,i ncier:, hic*<10,8 employees, omcers and agerlm of tileadviser or #nder (aa apolcable).

Sile 8har,s Im the nleaIlg give,1 to tt In the Share Plrollase 0 eemer,L

Security Intmr=t h= tti Insenlr given h sectlort 12 of the PM,10/10/PropenySeou#Sas Aol 2009 (Cth).

Shai, Purchase Agrugment megne 0,9 share purchase a ement to gh,8 ef ct to tilebilder of Sale Shares from ACH b Bkie Whale, as set out Bl Sdiedule 1

Shareholders Ile,aig meini the,hareholders meeth,g at „tic#1 Up Company'BIhei,holders wil vote on the Shen,holder Re,Ok,00,15.

Shariholdir Risolutions rn=ri the shareholder r=*Fons of the Comperlycont:inpigtad by 018 CondOOn Preceder,t h cal.*0 3.1 (b) of 0,0 Share Plrchase reer"rt

Subald]Bly hae the Ine,Vng given h the Corpor*10,18 Act

Superior Proposal means a boni flde Compe ng Proposal whieh the Comp,ny Boerdcoriidera, acS,g li good faith i l order to matify whit the Cornpmy Bosd considers bbe Its idit'cuy or It*wtory dulles (a:ter talang MIUM =Mca burn Company's externallegal end IWIEncial aCMsers):

(a) is ree,orzbly Nkily to be hlplemented welin 12 mol*hs, hwvhlg regd to mepropone,*s) Ed condltion,Ity of the proposal Inckleing the abity of thi propoeir, y to consunrnate me tr Bac or= c ternplutld by Ute Compe#ng Propolk

(b) Ivlict. Ir plemented in accorriar,c:a with lt: tgmts. resutt In a more fsvouable0*orne Ax Compeny Sh,eholders as a %%*ole tt=i,mikl resuR *omImplementaOon of 0-e Propo,ed Trarmrilon. taking hdo accot.mt d ofh bormsand concmtong of the Coinpetrg ProlvIR, rd<Wrg CorBIdersOori. cor,£900„,ity,fulcilg, c:art/* and Uming.

Supplier haB the rn=ling given 10 it h dmie 20(b).

Tax means a tax, levy, d,2094 knpost lee, deducion, compulsory loarl or ¥4011 01*lg ofany riatue, *IclucBU without 16nil4 my gooM Grid seivlces tax (inclucing GST),value added Mx Oroonmmiption % which iS ass=med, le,vied, inipoled or coleded by aGove,™inent Agency, =capt wtieri Ule context requires o envise. ™a blc*1-8, blt ISnd Allted to, Nly Warest, *4 penmity, dwgi, tee or other amoint In posed h adcftionto th068 amouS, but exckides Dily.

Tax Clalm means a Clan i l relation to m breedl of the Company Wamantles *pedGed indmmm 13.30) to 13.3(10

Page 844

U.4,31'47mVI Pilll.


Tax Lav, meeni sly hw reigmu to elher Tax or [*Ry as the coniand ruqu*ls.

Third Puty magno a pernon other then a Comperly Grolp Member, ACH and Rs RelatedBodes Corporate or Blue Whale end 1* Related Bocles Corporate

nnetible Inemn, 0-ll Inclcat,Ve Ulne able for the hnplement=Son of the ProposedTransaction 8el out In 0.

Transactjon Documerit ineenc

(a) U-ls deed;

(b) the Share Purchase Ageemart

(4 U. Ptl Op6O11 Deceit

(d) the Lom Ylwl# Deed: and

M Ute LOGn Tennhi. DI<

USB DrM means the l.188 chi,e sgreed by the pErtes h milk,g as the USB Orlve ArtheFR,poies of 0,18 deed

Voting Intention has the m*81,Lng g ven to It In dause 6.1(b).

Interpretation

In thls dead, thi *80¥*tg rules of Interpret*n apply 1,1|ess the 001118(y Intertion

(a) Heacmng, Ire for Gonvenlence only and do not =fred the **Brpre,Alkyl of this f,0,0„•1

(b) The Ungliaf Inckldes the pkral and vic:a vuma.

(c) Words that me gand, nalkal or gender spedic indude med, 96111£

(d) When i ¥4rd or phrage 18 given a parlicalle, memin oth,r partB of apeech andgrair#„aileal forms of Oiot w#ord or phrase have corresponcing me=ihgs.

Ce) The 98/n</ 7/9/,187 9nckl(ing-, 'such ar, 'tomold doubt" Brld SlrnIEN- expre881Onsace flot Here d Wtdp and do nd Imit wt:ai eise might be IrM*Id,d.

(1) A 1-*cr= 10:

(1) a person inck,des a r=it,al permon, perti*Wip. joDit verthre, govenyrte,rtag,ic¥, 0,8001800,Z corpor on or oiher body corpor*e or erfdly (88 uidterm 1, de ned bl audion 84A of the Corporabor= AcO;

(11) m thlr Oncklctng a chose In acion or clher riot¢) kickldes a p,t of thalt'.19;

(M a perty Includes Its successors =ld mkt,d ms#,10:

m) a doctment adildes al =nenc*nentB or slipplements tb We doclane•lt

Page 85

2154.7¢mi= ¥1 P//I«

2


M a dause, tert,1 Paty, achedtdo orattaohment 18 a reference to a c Jace orterm d or a Party. schedlde or at med tn, this ds,d (88 plicable);

(VI) 0118 deed includes al *diecklles Ind 9111Ighmer*B to It

(vi) a law h,dudea • c=*Abiprovision. treaty, decree, com on, *t*,reglm0011 ordliai,ce, by·law, judvnmt, rule of common la# or equity or aListkig Rule and 18 a refergice b that law as emended, conioldsted orreplaced:

(vi) an *.Barner* (dher Ulanthls deed) hdudes arn Lndertmkpig or legglyenmrceable arrangemarrt or Lindlstunclng (v,hether or not hi writ g);

(b() a 11+78 period kicikidis 0-le da6 referred to m thal on v,hich tlia period bughsand the date referred b = Mt on v,hlch the period ends; and

Ix) a monal=y =nold 1, h Austrdan dollari

(g) Arn Bgrearne * on the part of D#/0 or more persons Mlc them joettly and Beveraly.

(h) When thedayon which Somethhlg rn,=t be cloni 18 not e Bu*ess Day, thai thhgmust be dole on 01, *001#ng Busliwes Day.

(i) In detink*Ig the time of day, whece falsvI,* to tht, died, the *ne of day 18:

(1) for the poposes of gl*g or rloelvingNotice. theline of c y whe•m theParty receM Noice is locata< or

(1) for sly olher plrpoGe indic Uls deed, the Wrne of day in the place vt,ere theParty rvqi*red to perfofm an ob6galon k loc id.

0 No Ille Of construction appO= to thi )8advEN*age of a Party becttme hit P -tyvas riiponvible for the prepaflion of thia deed or uny pot of IL

(M) An ASX Listbg Rule, litiV r-* or operamng rule of a *1=,cial market or d oding and settlement faity wl be m,ded m a 10#, and a reference to sueh arule is to be taken to be sutlict to Nly walver oraxempavi grmtsd to thecomplance of thoss rulm by a Pity.

01) a reference to except gs diciosed Is to sornath Ig fahly diclooed #1 this deed.the Transaction Docornerti of IM 01*loelm Materlals. In th Is contmd, fw .rritb,r In be Igilly dedoeed Il must be chclooed to Blui Whale In sumcle, detanso as to eMble m resionable pe,90,1 skmed In merger and ECRIWon tgng@c lonsor 0881110 bus*188&86 and ops*lori to Identify the nE•i re of the relev=* m•tter,merd orc*aingt=Ice; and

(m) a relarence to al far = the Comparly Is awarl, h relanon to am,tier, h to the•ctid knowledge of 84 of the foldng por,onS 08 GR 018 date or 0118 agreemert

(1) Jessica Melcs; mci

® Tomy Flms.

Page B

3,8,4003'47.V! // la


Schedule 2 ShareholdIngs In the Company after implementation ofthe Proposed Transaction

hs'Dj'KI.!:1-,2 ' '

Bius Whal, Up b 88.§096ACH Atle-t 7.25%

Otharih=ziholdirn At least 6.76%

]45**In„4» ¥1 p,0,10


Schedule 3 Share Purchase Agreement

Parties1

2

3

Aqui Canberra HoldNs (Aus) Pty Lid ACN 167 934 992 4 21 Bir=a StreetCanberra ACT 2601 (ACH)Aquls ErrtmrtIlr,norrt Umltid ACN 147 411 881 of 21 81:wa Street CariberfaACT 2601 (Company)Blui Whal• r 'ts , ' ' Pty Lknitad ACN 627 769 139 of Lad 22,128 PlipS# e< STIP NSW 2000 Flue Mcia)

BackgroundA ACH 18 the regldnred holder and ben/cial owner of the 8818 8 86.

B Bkle Whale agrees to buy, md ACM agren to sal, the Sale 81-Zive on the termsand con<*tons set out vi this agree•nant.

C ACH, Bkle Whale mid Comperly hsve entered blio en plament*lon Deed onHle :,me dete 83#118 ageemer,1, to &ve eflic:tto v lous other aspectz of theProposed Trs•don betiween the PE*ties

Th. parul. agr..

1 Defined terms and interpretation1.1 Defint on• In the Dic#onary

A terri or Go®res*10,1 *Iming dtil a capital leder:

(a) which ia defined lithe Dlooonary h Schealle 1 (Dictionary). haB the meminggiven to It In the Dicliar=y;

(b) %¥thlch is dekied h Ole CorporgUons Act bli is nc* clanned *1 018 DIctionsy, hastile meaning given b i In tile Corpora00,18 Acli

(c) v,hich is defbied ki #10 GST Law. but is not defned h #10 DIcOonary or OleCorporations Act, hib mognklg given to It in the GST Lm,; and

(d) all ca»Osed Mins led In this aveement wlich Im deflned In tileImplementation Dead h•ve the med,Wng glvm to them li the Implemirladon Deed,ull- the co,itext requires othenvise

2 Sale and purchase of shares

11 Ball Ind purcha= of shari

ACH m 8,1 the Sale Shaces 10 Bkie WI•le and Blue Whale nul buy le Sale Sharesfrom ACH

Page i


(a) for tie Pirchase Price;

(b) on the Comple# 0*

(C) #Ill 0111194 Wkilli @,Idend *14 attad,ed b or morning to Own on andfrom the Complelion Dlte; and

(d) cn the te:minci con Oons of 018 agied,„elit

2.2 PLS:ligle PrICe

The,nount tb be paid by aka Wh•le ix 0. Sale Shares on Comple60,1 is $4,000,000(Pinch- prIc,).

3 Conditions precedent11 Conditions Prer*Im<,t to Completion

Subiact to *lis clauis 3, Iech of ACH, the Cornpany and Blue WI,le Im only oblged toperform their obiga'OM in r•lion lo Complation Ir the foao#Ing Cor lons Prmcader*am istined or %49*ed h accorclai)ce %¥ith Ime 3.3:

Coninions fortile banem ofal pardw

(a) (C=Ino Regulatory Condition) 0,8 Comp=ly obtaiz the foNg#*IMi approvals,and such approvel menct w*hdrnn, canceled or revoked prior tb theCompl*lon Date:

(1) approval rec id fr n the MWiter as prescrbed inder Ihe Cs,ho Con#01Ad 2006 (ACT) (or his or her ddeg*):

W to alem for tle dimge of control of the Casino Licence wNch wlocar as a remlt of the Propozed Trar=lion:

(B) of Meh Innuanld Penon connected with Bkie Whale h relailon to tilechange of control of the Cmino LIcmce; grid

(ID approval of the Comrnissioner of Fek Tracing ACT andany other approv,1 ofa Govellnent Agency requ ed Lilder the UquorAcf 2010(ACT) wNch maybe 14*red b 800%¥ the change of c,Anership n(,lch wl ocar m a res ofthe Proposed Tr=-m,ction; und

(1) sly olhor appruval, consent al*horisgon, regis on, ./, lodgemeritpermil, =,d ime, ag T,01*, notarl88001 ceraflcate, per,nis 01 10-codredion, McIEnOon, all o,Ry, wilvar, modMIc*on or exemption which 184*ed wder the Calino Contol Actor the coriattlilion of the Comperly. hcornec8on nel #le Propo,ed T ma*

(b) (Sh reholder Approval) 018 Compmy has obtained 4 neceismy,hareholder*,provals reqdwed by dia Cotpor*lor» Acl (End Niy other *pficable lew crriglistions) md the AS)( Ustilg Rula b pi-¤cesd ¥Ath 0-le Proposed Tr,Isactioninckic&-lg, dulout *11*1:

(1) approval in accorda,¢8 th Item 7 of Sidion 611 of the Corporations Act i,r=pact d the Blue Wtale (Endits assodates) acql**Ig a vot*U po#er hthe Comperly In en<ge,I of 20% as a result oil

Page 849

S454- &-Cm vI

Dec 21 2010 16:41:84 AED! Hi,rbm•E 1 1 i=¤n -> Fax Scruer Hi,[tcr Ellison

(A) Blue Whalek accRI,16011 or the Sale Shares

(B) the issue of Conver,lon ShEns; and

(C) ti» greilIN and exercise af Mle Plt OpOon and tile acquildon Clvotilg pc,Aer by Blue Whale plnuant to 0-,e Fwitklg wid exerCIBe ofOlat PLA Optio1% "ld

(11) N the Company eenddler, necieBary, approval L.nds ASX 1.*Ig Rule 7.2br the *sue of the Conver*ion Shifi b Bkle Whale inder the LoanCorve<Zon Docd, 8, contefriplated by daume 7.1(0) d the NnplementationDeed:

00) to the extmt ele Comparly considers nece=sy, approval ls,der Part 2£1 ofthe CorporatiorY Att fx 0,8 Imue of the Conversion 81*rm to ak» Whaleand 11» repayment trE,Isfer and R*giveness of the 106,1 macle li*ler theLom Corr,er/lon [}mct

(c) (Re,trilrrta) * al Wnes prior to Be Comple# Date there Is not h efract anyprel#980 0 511&00.,1 v/, *atrte. ord price, rmgulwhn/e, temporaryr ***Ig order, pre nkzry or parir/n.r* 111lncoon or olher judgm Trt, orler or ree *,ted by grly colrt Of Con*eterd Viddm or GovernmeNal Agency orother legal restrailt or prol*lion prevent*, Inater Oy rectictkp, mal rg megal orrestrmir*Ig tle Proposed TM,saah: 4

(d) (Independent Expads Report) Ole Company INs oblait from thi IndependentExpert an Independent Experts Report to accompany the Notice of Mdng,conckling 874 In lt, opINon. #le Proposed TrnacUon Is emier:

(|) f* 8/10 r:¥ b68 to the Nor,Aa,0*ted Company Slwaholders; or

(ID reaso„able bd nci fali- to the Non-Associated Compmy Shar,holdelg

and the Indapendent Expert does not ds,ge or pubudy,%*hciaw this condimionprior to the Con*1860,1 [*2

12 Best endiavoin

(a) Ed Party must use reasonable andeevolrB 10

(1) 880817 the Concitor. Precadent before the Relevant End [)*a

01) cxper* Jth the other Party 41 doag my# ng ne©,88@ry to Batisly theConcttlorz Precedent to the extent w«P,In each Party'l cor*01

(b) W/hout 6111tkig clue 3,2(a) but Sublect to dit.=O 3,9(6) Iech Party must

0) MIP Ole omer PE ty regihrly k*xrnM Of 018 progress 108*ch **#011of the Con*10,78 Precedent

0) =080 to the extaa pritlbad by a Goverrment Agene„ rt*ify thi otherParty o¢ 01 mE*grial comminicalior= ¥i,101 arly Gove,rment Agency hcormetion .017 Eny approval or conse'* requked FRnuent to a ConditionPrecedenl or=ly ma=W scOon Wken or proposed by, or my mitirialmqble* made by, a Goverrnerd Nancy ki r-Oon to me ProposedTmneah

Page E

B-=.1


(@ Belore provicing any docirnst or 00,er **irmITRon to EMi<other PENty DISSUE*V todmiI M(b), a Party (,1 this clause 3.2(4 the [hcloiarl m,y rodaot Ily part ofthal document or not claclom any part of that Womlailon, which contains or imcorlderittal. non.f-N h,FormaNon (Senzitive Confld,ntial Information) I theDisdoes Ii,ionably b•Bleves Otat

0) the Sen,love Cor*lential Ir fannaion El of s commlicialy lensIOve rlaturai

(N) the cnicloilm of me Sensitive CoNiderad :/1*11111„80,1 vi,dd be dE na*mto the commes*1 or legal Intar=ts of the DIscloser or my of us RelitadBo(les Corporate

U 8,0:faction and wilver of Condloons Precedent

(a) Each Pity mu,t promptly notify the other PMies if it becomaa m,Im of:

(1) the satisfaction of a Conilim Pr-Bcadent or

(8) any rac matir or droslkit,no,Ulat has resulted, %vii reslit or isreasonably .84 to result In, a Cond/in PREad*,1 ecoming Inc )able ofbeing :*10#80 beore the Relevant End Dait or otherwise not beingcapable of behtg satified b-1 =:cord,nce ¥,th ItB telms.

(b) Sublect to diums 3.3(a) md &*c). a P,ty *h the benefit of a ConcitionPrecedent may, at sly ame beR,re #le Relovwt End DW, wah a Concttion bydvt,g MR(,n notice b the other Parles spec#yblg 81.t tt no longer riqlir88 theConation Preceder* 10 be fultlled (provided Buch wa ef 18 pernlad by liw Indthis VeemenO.

(c) If more *m one Party hm the benem of a Condmon Precedent, tigi ConciUonPrecedent may only be weived if eech Party Ilth the benemof the ConcSBon givesnotte to WI other P'088 before the Relevant End Dite, spodi91119 that It no101'lger re*lie, 0-e Conc*Uon Precedent to be Allmed (provided such wdver 4permmed by 18¥4

(d) If a Pally ive the bre,Kh or non-AAnent of a CondRIon Precedent, slchwaiver w#D nol pre rit that Party fipii suk,g the oeter Party #or EIN breach of thksagicem,rt that resulted In the breach or nor--banent of Oii Conc lon Preoudenl

(e) V,Wver of breach or no,1-filifimm* of a Ccidlon Precedent does not consmitte:

(i) a wai,9 of br-ch or non·fulmmed of any other Conation Preceder*remilting kam the sana e#„nt ac

(11) a viehs d bresch or non-Annent of that Condllort Preceder! rem* gfrom any other event

3.4 Tormination on faths• 07 Condition Pricidint

A Party entioid to the benefit of a Coration Pt'Bcedert Ing, t,m*te 0118 reement haccordance witi laile 8,1 If It any Sne before Completiort md Sublect Ip th cilu=a4:

(a) that Conalion la not *01»d or,%*ed by the Party with the benent of 0*Concltion by me Relev End D,te; ai

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(b) Bdue Whala or ACH has given a noBca thst the Condition Precedd 18 Incapable ofbu-lg 11*1 ied by thi Relevant End Daie (Inless mai Conclual Pricidellt 18satisfied beforethe noth' b g n),

and provided A,=t the *rnIMINW PENty 18 not h breach of a maIRM ob Uon wider 8,13Breement or the *nplementation Dead (kidix#TU where that breach. whether alone ordier' 1-n k,gimer 01 other delberate acts or ocifialorm of Omt Pgrty, cont;bl ted tothe drcunstanc86 fom,blg thi bmli for Ola Con(100,1 Precederit Wig bre•clhed, notfulf d, or becomhg Incapable of saisfaction).

U Corporations Act re*drimerrh under section 608(7)

For the *vr* rce of doubt ahe PErtles agree Id ackne;*48dge = follo,I:

(0) the ac *118100,1 of any Relevml bitere,t In tlia $,10 Sh,rii by Bkie Whale 18conditiod on th® Sh,eholder Relokitions beN passect

(b) thi r-lotions mt out h this agreement do not goill,r grly gor*01 o¥er, or power tosubas-ly Wh,ence, the =rcise of voting *a ati*chad b Mle Sale Shares ormy other Company Stiams held by arly pej-ty; and

(c) to the extant 874 Iny r-idions set od in this agreement msy be rprit»d as arie11:11£,1 on dsposal of the Sale Slues b someone other than Bkle Whale, &,IdlMiti*110,1 do,8 1** apply trom he date 3 moritti hm the dato of Oil agivement

4 Deposit

4.1 Payment

On signb,g thi .eamerit N. Whale must pay $1,000,000 (Depo,10 t the Complly'SSoicitor'B Oust accol# i l himect=tely gvmlgble Al,dis. to be held by the Compsry'sSolkitor 01 stakeholder on and subject to the rins of Ulls dau,8 4, Each of the padesagree lo sign arly docurierrt Imeonably requestad by Ble Comp,/9 Solder )1 r,istlon 10the holdIW of such Depoil

4.2 Inveshne„t

(I) Win BA»Whale pays the Depout h accord,ng, with this d=ma 4.1, ACH mimt red the Compeny'I Soldtor to hvest the Depo 0 an 61019* biering accolntIntl Comple80,1 (or, if e=ler, MIT,IngOon of 0118 agreemenD.

(b) Fid, of Bkle Wh,Je grid ACH acknoidedges that they =B iv.m thgtthe Companyorthe Compi¥& Soncitor Is ulder no oblgaoon to obtain the Nghest rate ofblmr,st peyable on the h,vashne,lt of the Deposit

4.3 ™Ung

(a) St*ct to dou,0 4.3(b), the Corroarly must proon thit tlia Deposit 18 reilmed toBkle Ntale knmac ly If M agi,ement k

0) 18,Trthliled In =111'clance uth dause 8.1(a) I • ru,Vt of a Condion (00,erth=t #18 Corripkil out*ied *1 dause & 1 (8)) not being gali ied or vahmd tythe Relevmt End Date or becoming kic,pable of beN saistled by theRelevmt End Oak or

(11) lawilly ternth·tamd by Bkie WI-* l,ld,C

Page E

"5*R/.0/,1


(A) AN»8 8.1(b) of me 8*ra Pucl=: Agreement = a resun of ACHIt*re to Complete: or

(B) clause 6.3 of the 81*e Purl-i e Aggoment

(b) The Comply mlmt proa.g. 81* the Deposit Is paid to ACH knmeciatmly *,

0 me Buys Glm,ntor d Nly Ume breaches #,8 repre=-*lori and wiumiltyIn dause 17 of the nplern=itillon Doid; or

(Ii) Blue V#le Wis to pay the Purchage Ptlce and the Lom Tr-mr er Plice EtCompleOon orACH hfuly rmkioti 01, ShEn Plirchase Agreement I Ire•ult of 811* Wligide faJIve to Complets wherl racR,Irmd.

(c) If Comple lori occluB, the Comparly ir,L* ppan l#* Ute Depoelt 18 paid lo ACH h861 lion of Bkle Whale'l obioA¢ 8 to pay the PLrclme Price wider dause5.4(a) ofthis a,earne.t

(d) Clauls 4.3(a) ck,es not ghcl arly other*ls whied, Blue Wi may have miligfrom a breach of this agreemert by AGti

(e) Claim 4.3(b) doem not af ct any other rights which ACH miy hive arIBIng from abreach of this a eement by Bkie Whiale.

U Interest

(a) Any bank biher:/taggrued and payable on the Depoilt 1/ p«yable (8118/ deductionof any bank coe# *,d emcinss) to 0,8 party enmled to the Depomit Ulder dauge4,3,

(b) For the avoidliee of doubt, grly bank limrest accrued and payable crl N Depositdoes not congltlite part payment of thi Pl,din,0 Price

48 Rhk

The psly v,ho LI etruled to Ule Depoglt bean the 01* 410*ig N Deposit

6 Completion5.1 Compiltion

SUMBel to dause 3, Com#Ikn must ke pk,ce on or bskx, 11.00,m on the clay whichil 10 Billiness Days after =t faction or, Jver of the last of the Conditom Precldent orIny alhw *110 and Ite Ihet the P 86 agne ki VI1#14

5.2 ACM obigations at Compidon

At Compleam ACH rm* dill,er to Blue Whale

(a) ckily exicubed Inf/Finients of 1/,Mifer of #10 8/' Stses In favols of Bkle Whala, lithe form reqllred by the Company's shace regi yi

(b) duly malted wrmen reNgnalons of the Compmy DirectorB nomtnated by ACH tormicn frcin the Company Bo,d, as noefied Inder *Li.1 7.2 of theImplemer,taton Deect

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(6) dly exeouted coinllerpart, 0 IN documeriti requhd to be exaa,ted to glve eflectb #le *pi ut od In r*,1„ 7.«b) of the Implin,rilition Desdi

(d) duly emouted copies of t10 Put 0*n Deed as contemplated by diuia 10 of theImplemer-!*lon Deed;

(e) a v,rit* dederslon for the plaposes of aactlori 14-226(1) in Schedule 1 to tleTAmlin, Ad,diqi#ation Act 1963 (Cth) thst al d *11,8 bet,4,en the date of thisegreement and Cornple on #1•t It li an Austalan residene

0 evidence lo Bkie Wh,1* rgaBonable 81*isfaclon th•t 018 ¢ompsrly Groll holdsas st CompleOon, cash or cm.h *bler# In an aggregat8 atiols* no 10- than34,000.000.

5.3 Comperly ob[1026ons at Complilion

At Cornple#on, the mu* Callee the amount of the [)apo 10 be paid to, or aschctad by, ACM.

5.4 Blue Whale oblgations st Comptellon

At Compledon, Bkie Whgle must

(a) p•y the Pirchage Pllce to ACH, ab drachd by ACH;

(b) delver to Company Mid ACM *ily exearted inst,snerls of tan- of the SaleShgrmi ln f vour of Bkle WMI# 111 the brn 1-Dcv*ed by the CompM,y'* sl,reretstry;

(c) deliv r to the Company the a(eetrtad car»erlt: of CompoN D*ectors to beappo ted to #18 Compelly Board. as nolilled Indler cialm 7.2 of theImplementation Deed*

(d) deiver to the Coriperly and ACH execule Col*arpx,18 of al dOCLS„enta requ ed80 be =CUM to give effmc: to thi BtlpS set out Il clause 7.4(b) d th,bli mil*aaorl Dee« End

(e) delverto the Comp,ty and ACM executed copies of the Put Option Died aecotlemplated by clause 10.

5,5 Interdependence

(a) The obe*ons of ACH and Blue Whale ulder this dmise 5 541,1 W-.·:=: 4·.

(b) Unles, oh.whe stated, al actions requbvd to be perlormed by a Party *iCompletivi armt,ken 20 hsve occlimed 861,un=,moL=ly on thi Completion Data

(c) Compldjon v,4 riot occur 1,11866 80 dUle dgedons or ACH and Blue Whale to biperfenned st Compla"on Undlithis fialt. 5 dn compild v,le, and are millyeflecove (triless weived h milng by bom pEries).

U Titio anddik

Th and Nk In the Sale ShE,88 passes tn Bkls Vmek on Nid from Compldon,

Page 854

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6 Seller Warranties and limitations

61 GIving of Seller Wananties

(a) ACH:

r rme:*a grid wurrants to Blue Whale tPAt aac# of #ie Seller Wi,wills, 18tfus afid 0 15* m st the dl 01 1119 0 eement and wil be bue midaccuste a, ai Complelon;

(1) ackno,¥ledges Bi Bkie Wh,le 1108 entgred Into 18 agreement in r,&*nceon the Seler Mirailk; and

(E) R"Meet to the hitafor h 011* c L=e B, Hinnilles Blue Whale h respectof [098 8111*red by Al* Vhle or It, Re ted Bode, Corporute 811*g noma briech 4 8 6,11,r V anty.

(b) Emci, Sels, Warranty must be consOued heependerrtly ind is nc* Mtid byreference to another Seler Wgrrar,ty or by reference to =ty other Tr achDocunent

(c) Ths Saler Wartwiles auvive CompleOon-

8.2 N./.M, dick.Id

Thi Seler W,!*les and Ihe Compsly Indemr*y 0,9 +811 1ut10 to wid are cRia[Wledby, Ed A,e imblity of ACH *1 rispect of sly breach of any Sele, ./1 berecklced or a,dlit bshed (am the cme mgy be) 00 the Ntent that 0,8 breach mises ingorn*lion Wth:

(a) 0-le trailsactions cont=nplatad by or almorlsed by 010 TransacOon Doclrnen#;

(b) mly Ir*tcn or *'In tcn which hsve been fa* dsdosed (.**t 0-e memr-*lg ofSchec 118 1, c,mze 20) of tifi *Neemer*) Inthe Dleclostle Material: or

(e) my Womilion or matten that would have been disclosed to Blue W le had BkleWhale cor,ckicted &=chal bettfi

0) 12 December 2018 of rgcords open lo pubic inspec8on rr•*-t d by ASK;,ASK IP k/1/4 #18 Au,trularl Fir,En# SGCUrlty Allhorily, the Titles0mce of Ole A&28*ralart Capit=1 Teri*om mrid

(1) 13 Septmnbs 2018 of r,corM open the pub[Ic hpection maintahled bye;eMigh Court the Federal Court and the Slmrame Cout of the AlmimlanCapl Tarri ly.

8.3 Right of Termination

M before Complellor:

(a) solely * dridy m a rgil* of the conduct ofACH or any Compgrly GroNMember Mheths done or li comt*,stion with other Company Group Memberm),Ote BITDA generatsd by CCL 6- raspect of 0-» r/gr encRng 31 December 2019 181-8 01,n (or 18 reagonably IGgly to be less thm) 31,000,000 (Id<,dklg 81 non-recu,%19 U.h and emcpon...) (EB[TDA Threshold), and provided anyoccurences, facts, n,Ntss or dinsrtinces imulmig from the folo*lng, either

Page 55

345*lm/.0/ I


alone or k 1 combliaeon. 9,11 not cer"b/lte Or be cor dered /1 de etin/72ng v,hetherthere has bean, m Merlel Adve,Be Ellect and wt not be colntad as cor,11blaig tothi reOK*lon In EBrTDA below the EBITDA Threehold In this clause 53(8) (tit lito the exterrt the folo¥*Ig have reduced ERKDA, Earl'DA wl be deemed to havebeen Increased by Cle Inour* of such reducion, for Ine plopos= of 011; dallse6,3(a)):

0 ) Eny occlrrences, fnc:14 mutter, or drilingtances conserrtid to by 8biWhgle or Its Repr intailves in vs*lg; or

01) sly occ„rences, fectt, r!=tter, or c*clirtltlincee beyond the reazor=blecorlrol of ACM,

0" arly occirrence, fact mstte, or dialnetance fan, cisclosed in theDI,domm Mabartals:

(tv) dlengl h general economic ccr,<Otons ( Icklc preva g interast mi*mrdiilger<les, commo(my prices and hiplt coati), bridal or poOOCalconalloru, the .864,1* maim h general, provided be ralevunt CompENlyGroup Member has Mded<m reesonable endeavours to felpond b mysuch di.Ilgis 1,1 8 reasonable n.=iner;

(v) arly occlirence, fact mater or 621,ristance INly dedoeed bian ASXarr,ouncemel* prlorb the date of this agreemarit

(vI) chang= In laws, generaly accepttd accoulalm prinCipleB or theIlforconert or r,monable literpretation of ern by wiy professional bodyor government agency;

M) any ollinsk or esc:law d'w ormalor ho-les or"ly major a(* ofterrorlsm, provided thow evs:*. res,onably cause or conhibute b tileEBITDA Threshold not beh·g readied;

(VII) Ct=lgee that gar=mly Effeat the Indueliles and markets in v,(lid, theComparly and h subsidi. opeivim, provided Uie relevant ComparryGraip Meinber 1188 indertaken reasor ble endemour, to respond to ENIYBuch changes 4 8 ramor•ble Inanner or

(11 ) the execulon of th19 agreement and the hy,plemer*Mlon Deed, any actontairen or faled to be t,k,n plnllent to or 111 accorchice v,lth *118 •griemerltor thi Implementation Deed, or i the r<quest o¢, oroongenmed toby, BlueWhale, ti-u co,i,L,inmalion of the trEnsactioN coriarnpl,ted by thlg reemer and the plemer*glon Deed orthe pl lica,111(„111,cement orother publlcIW %%*h resped to any of #10 trigoN,

(b) cash or cash equ*,alents (Inc K*Ig cash equlvalen[B held on the prenties ofC=40 Canberia) held by the Comparly 4 * arly Ulne legs trs) $3,000,000.09 or

(0) the Ca*10 Ucerlce i3 r ,voked, canceled or fienlise no longer held by CCL

each, of (a) - (c) belrE a Material Advirse Effeet

ths: 8kto ,We may (,¥101041 pr«*Sce to ally 00-»r remedy avalable 10 11) imme elyte,i,)inate thi8 agraernallt by glvhg wrmen notice to ACH.

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U No Nab""1

ACH Is not lable to Bkle Whale b my CWm or I rag wder #s agrearit

(a) to the ed=* 11* 0 provIBIon or re=ve ki relation to the tactx mstters,CIrclimaai1085, T8*86 or Dutai gh*Ig rlee to the Clam or Loss has beenapedlcaly provicled for or taken 6,00 accol,11 or noted *1 the Arynllit#

(b) to the extent that the Claim et Lo•a =lies frD,n GST v,hlch 18 recoverable from theRedplant dth, Supply or for which an liplt Tax Crmcit Is gwilable Inder Che GSTLaw;

(c) to the =ter* 0,1 the Clan or Lon woold not me =last but lor an,0*Ig done ornot done aller Comple# by Blue Whale or a Related Body Corponte d BjumWhale or any pe,Bon adilg, or plrporting 10 Ict on bihalf of Blue Whale or aRelatE,d Body CoporS of Bkle Wliale ( lucing by 4 *ador, appointed to tieCompany Board by Bkle WI-zle) Indu(Nru

0) any faan by Blui Whale or a Relatad Badly Corpo of Blue Whde alterCompletion !0 ssek to nuu*o lt, Loes; or

(1) becm= of s Tix or Duty-related prome. ahlbut or zknlar *cumtance ofBkie Vmale ora Relatad Body Corporuts of Blue Whale;

(d) to the ext•* M the Claim or the Loss would nol have Ilien bdk

0) the n*nent or snendfnent of sy legislzdon cr reg<*stons; or

(1) a change tri the practice or poNcy of my Government Agency,

alter the dats of *im agreemert, Inckic*,g 18*1800,Z fegulaafT N ,andmenti,1*pretton, pracOce or Wicy *=t 1,1 8 r*Dipective elect;

(e) to the #tent tigt Bk.a Whsti orany Company Group Memberrecoven miyemount In relped of the Claini or Loss or Dom the cknimstances old of v,hid, theClaim or Lou arlies orn my Nd p=ly Fulck,C* Inder grty liouance policy);

0 Blue Whale to the dent thst the Cbalm or Loss vmu Id not have NIBen but for someect. 01,1,810,6 *wisadlon or ENTangemerd M-lied out *N ttlen request or vilththe wrmen approvel of Bkie Wiglo or Itg Repreaentatlves before Compleeoq

(g) if the liMity f,r Cht Clairn or Loss 18 a conth,gQ* Bibity, Inless grid until thelabity is =1 adid liblity wd Is ckie wid payable; or

(h) b the ex*it Uwt the Clam or Loss arises from a Comp,ly Group Memberg fii reto take any actim afts· Compldon requhd by, cretal should ree==bly bo tak,nuider, =ty applcable Tax La¥ b, rm*lon to grly Tex or [)* or because of a Taxor Outrfulitid pr Mle. *lbute or sinaar dramilance d Bkie Vinnie ora RelatedBody Corporata of Blue While

6.5 hdlract or con,equential loss

To the maxnum =Innt perriti d by lav, ACH lonot lable fororwlth feepeet ke any Loufor breed, d cont,ect only recoverable linder the seccnd Unb of tiacley v Baxendale orfor or with resped to my 10- of opportunity, damage to repttak 10= of aiativinIr:,lou d prort penalties or filas knposed by I Gov,mment Agenci aiBing k, cornecion%%*h #* agr=ment orthe Proposed Transadion.

Page 57

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66 Taxi Duty or c*her benefit

In c:mic=,di# the Loes of Blue Whale in relai;Qi to a CErn, the Loss mult be reck,ced bymy benefit Ec:kki,gmy ™ ReMID #Nnable by a Company Group Membu, BlueV late or h Related Bodles Corpor,6 ambg c *ly or *16*edly from the subject matimof Uni Clnlin.

8.7 No #,ducement by ACH

(a) Bkle Whale ackno#ledge* t!•11, 41 cc de:411 *11*her or not to acquire the SaleShams wid pros¥wl with the Proposed Tranmetion, It did 80 on Ule bmnin thialthe kiformation it rec*,d lium or on behalf of the Company or ACH ccnce,ifigthe Company Group ( LiaN u= 01,49#I MI*rlal) and the Business axpres*exc*Id•d any r-ance on Womlation giverl ta Blue Mi or 0,-rient, orrepreler/1 111/ 91*wi/1, c*h'r Uwn the Seler WE'rantll'L

(b) Blue KI-1,10 acluv*ledges and represents and warr=* to ACH thi It underltandsthe risks md Llic:stmb*les of tile Indu,Dy In which the Bushiess opers:ms sid Uiegened economic, regulatory and other li Ulit kinpe on or could trnpacton theBu,*11*1, h m*Ulta. opernaons. Miwiicial pouBM md prompedi

U Notil and Ume limits on Claims

(a) Bkie Whale mum noafy ACH d=,y Clatm It 1,88 agahet ACH Inder this ¥ae,r=*Ozlidng my Claini for breach of my Saler WIT,nly or Claim lolder 0,8Comp,riy Ind,mr®y), 81414 out reasonable details d Hie ic*g mittor, or*giv g he to ti-e bregch grid the nalire of the breach as Boon mpraoticable, and h any event with* 10 Bus/1// Cgym, at&,r R becomes SAWB Of IL

(b) Bkle \4hale may not make, End ACH 18 nat lable ki eny. Cla for a breach ef 08,lir VVR,mitty or Incler a Comp=ty Inclarn y Inless ful detmlm of the Clamhave bes, notified to ACM tiln 12 months after the Completion 0*.

(c) A Cl,kn d not be ertrce#e agablst ACH and Im to bitalwn for al purposes tohave bees, v,Rh*w,n 40,6818gal proceecmgs ht corrlection uth tho Cl/rl amcommenced limin 8 mor,hs •Rer Blul Whgle 881VGB written notice of the Cli onthe ACH hi accordance,%101 dause 21.1 of the Impde,ne• 011 00*

6.9 Inimum Inol t of Chhi

ACH is not liable for Iny Cla tra breach of a Seler Waranty or Inder g CompimyIndemnity. ls,less md *t

(a) the oluit h|y 890*1 or delemllned to be payable in re ped of Ult Clglmexceeds $100,000 (each auch Clib# a Permitid Warranty Clai n); and

(b) the Bggregste,moult of al such Perrnmed Wa stty Gams =caed, $300,000.

*1 ¥41101 Ivent Bkle Whale riley seek to recc,ver the ful smoutt of Ote Clairts. End not justthe ecm

6.10 118*Imun nabmty

ACH'a total labity for Losi =1*,g In rieped of al Clains under or in ex*tection dth0* agiesment Is Unnled In aggregate to $4000,000.

Page E

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6.11 Recovery

Where Blue W de or s Compeny Group Member Is or may be mtitled to recover figmsome other person any surn in respect of I ly m-r or event which 18 the sdled of aClm by Bkil Whale Bednet ACH. ellie Vmele must ccxiper*e v,(01 ACM and

(a) 10 ng best encleavours to recovar thet m.im or mul*the Compeny Group Memberto recover that 84 1 before mailing the Clm agehst ACH;

(b) u= 13 beet endesvoln to keep ACH at al Arnem AINY gnd promptly hformed of 0,8coiffict d ilch lecovery; mid

(c) redilcithe amount of the Cum to the a,dant M m.,ns ar, recove d

I the recovery Is delayed Intl ahar Ihe ¢Illm hl blen paid by ACH to Bkle Whale, therecovered amn MIU be paid to ACH (up to the shOLE-t of the Clibl peld by I .

6.12 Other Mtiws

(a) 8*10 Whale h not er#*d to recover or obtain payment reimblnemer,t, raitt'4onor Indemnity more tim once in r=peclof any one Loss inder or in conneclionuth this Ig,smerit

(b) Blue Whale wah,es and must proan tht e•ch of lt, R,1*id Bodies CorporatBw.*98. al r-Igh und Clelme that It may have person* aginst the asrorrt andformer ofi *1 and ernploy-s of ACM aid the Comp=ty In reistion to sly mitter011814 dre(*ty or Wrectly h corile<lion v#1 thia agreimert orthe F4oposedTrirm.(13.1, excipt to the extant thai those *18 or Cliiins =Ise out of thi haud,%%*lul misconduct or w ful defmuR of a ami* or brier omcer or employee

(e) Each Party Im t. der a My to mRIgA Its loss in relation lonny Claim,

(d) If peyment Is made for a breach of a Seler VWrIwly or wider tie CoinpanyIndemnity, fhe peyment 18 to be hated 83 a redurin in the Phsc me Pilge.

(e) Each quallication and Inltatiort in 81, dmise 6 to be COneilled Independently ofthe othen md k not imlted by any other quallc lon or buation.

(1) If any of the Seler Wainlimes en il:orract L:*ru. or mille@(Blg. Blue Whale'sanly rmnedy 1, In *lagi and Blue Whale may not Imind,.mh..vokeOle aoreemer,L

(g) If peymirt larnicdo lora .8011 of.

CD a Company Warmty or Lmder a ComFV kidemnly, the psyment Is to beMited I a HdugOon h the Pirclf#® Price; and

01) a Buyer V*rr= y of a Buyer Ildemrity, Ule payment 18 to be trgeted as an ,crmell the Puchage Prica

6.13 ACM declaration

ACH decidne for the p,spo,es of section 14-226(1) 41 Schecklle 1 to the TaxaticiiAMlisUB#on Act 1963 (Cth) fha it is ind v.11 be In Al*milan rs=*lent for the periodfrom sigling ti igreement ula Completion.

Page 859

SeS*2¢m•47¢ vi


7 Buyer Warranties

7.1 Buy/Wan,„le.

Bkle Whale r reeents and **Y=* to ACH that each of the #000**Ig statements Is buseind accurate on #ie d* of this agreemerit =id vAN be bue and! 80:117898 0, i 018 date ofComple on:

(e) It 18 dLIly ,=por*»d and val* adst] Lndarthe lav of Its 48£8 of corporsnon:

(b) Ihe =ac on grid dalvery ofHi Igiwinent has been pvpmly gutho,Iled by allnecessary corpc.1 . adion of Bale WI,Ble.

(c) It has M c=por ta power and lawful §0 80¢ecule and dall,Or 0118agreemmt ald to coniummate and perixm or cause b be perfemied 1,oblg/Iis illfmis 48=114

(d) this WeemerA cof),0*ut= a legal vald md binang oblgaBon of Blue W lear#grcogue In aocorda,ice v,th lt, terms:

(e) 018 99(11110,1, deivary end perromlancs by Blue Vmgle of 0118 agfeemarY does notor wel not (wlth or ¥Alhout the Ip,I of Nne, the glvklg of notlci or both)contravena, conflld wfol or resul in m brnich of or default Uid£

(i) Ily provision of the cxrm:Mon of Blue Whale:

(11) any mal#d tmrn orprovillon of 01,88<.,14 =Tangiment, undertak Igrisment or deed b widch 11 18 boundl;

(*) aily writ order or In*Indon. ldgement, or Iv,v to Vilch It ls a paty oc li=*lect or by which it is boind;

0 no *1,0*vency Event h= occured lin rabs*,1 te Ah- W,Ble;

(g) 80 faras it i, a.,Im, there are no facts, mithi or 0*clinsta,ices,vhlch ghe anypereon the right to *mly to Nqullata or HAnd up Blue Whgle;

(11) It enters hto =id pitolms this ag,pernmt on 4 0¥m accolml and not u tustee foror nominee of my oths perion;

0) has prior to the dl of th18 asnement, Fwided Ole Company vah ful dltals of 18ecMW and debt A ng Iriwigernents kiduc ,g id 80 ments h reladon thereto;

m It wl on the Coinplen Date be able b pay 018 PurchARA Pfic:8 h sccorclance,%1th8* ageement and he= c•sh 1180(ves or acce•* to ddt or e(Mty Ilncm,g to mootthe oblgdort li pay the Pirthi,Be Pilce;

(k) R has not ahady formulited an *ntion to make I ¢18*11 for beach of a SaleV.mmity:

0) Iwvlrig niadle reasor.ble encM,les, It dom not prmiently have acial krn,ledgi(save m Wrly algdosed inhDIk in Matedal) of miy C*CUTi*1111 NIX& itbeleves may enUOI It bo mae a Claim for br=91 of a Seler Wam ty,

(m) a ir as Blue Wlide is m,we, 01,re 18 no realon why the Casino ReglialvyCoratim Vi nd be gatml< Ed

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(n) *10 Buy,r Guarlitor ls the sole lega and benencial owner of al of the *IMshses in the r'rh' Of Bkie V#tale grid 0,gre Is no a eement. srangement orlitclerst=,drU belm,ert the Buyer Guarsttor and any other perion totransfer suchahses (2 a ben,flcial Interest In such shEns).

72 ReOanca

Bkle Whale acknodedges thal ACH 1-=1 erlter,d kito 0111 8,eement In relance on BleBuyer Warra l*les.

7.3 Indepindent Buyer Warranties

Each Buyer W Yalty mt=t be cm*ued Nipender*ly wid 18 not Imlted by reference toanouler Buyer Waranty or by reference to Ily od-le, Traruotion Doamient.

TA Sun/lval

The Buyer VVe,rirties Il,*e CompleOon.

7.5 Indemnity

Bate Whale Dden¥ lies ACH aginst sly Loss 0,1 ACM may Incur to the extent causedby uny breach of tle Buyer WErrantleB.

7.6 Tax, Duty or other benefit

In '*4**16,9 the Losm ACH *1 reig#on to a Cialrn, 8,8 I r** must be reduced by =nybenem mduc:Ig any Tax Re[lei) obt innble by ACH or Iti Relsted Bodli Corporaiaria ig dTDdly or klgc:tly Nom the sltled mattBr of Oid C n.

8 Termination8.1 T«minalon

V tholIt pr*dice to althir Partn other,Ights to *milate thi, *pesne,4 41,5 Pertymay te,minate this ag·semer,t on 10 dgy, Business Des' notice 11.

(i) entitled to do so ulder dauge 3.4: or

(b) a P,ty cloes not Cornplete dieri requhgd to do io (otherthan m a result of defaultbythe oUI,r Party), provided that the PSty wis# to brnir=ta pluvldes notice hwrlth,g to the P,Hly .00 does riot Complete .Iten required b do so, =td the otherPENty has not rectilled the failire #th 10 Su*,ISS Days of recelpt or the notice1-¤cllir-*Ig It to Complete.

U Spe©1110 performance or W,mination

If a Party malsially bried,m =1 obl on lm(* this agreemer t the riondefH,It gPar may choose either to seek specific pecia,11,i,w of thi obligs#on ortemihate thismgrmmorrt In *Ither case, the non-defaulting Paty may seek dnm,ges for 0-10 br:801.

8.3 Emot of termination

(a) Ter,11117=ion of thim agiverneru WI not shct 84 other,lghts the pN·lies hu,veaga tornemother at law or inscpdly.

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(b) On le,mintk n of 0118 agni/nant

(i) each Psty is relemed from |ts Obaggtionl Lnder this aveement other #1=1diume 16 or the Implemeiiation Deed (825 &,corpor,ted Mo this agreemer,lmder dause 8);

9 General

01) -011 Pgrty retalns Eny Mghts It has agahst sly adier Party In comecoonwith my rigli or Cifin .111011 8,1888 before termlnation;

([ Bkle While must r,turl to ACH al doclments m-d otlia rn=terl hi grlymedlim h Its posse..4,4 po r or control *ch contain Worms# r*tlrigto the Comparly Group Id whieh heve bes: CSKiosed to or provided toBIUIWI ; gnd

(tv) ACH mult retini to Bkle Whale al doam=* Ind oUter msterlale InanymedLETI h la poIOI,lorl, pallrorcontrol %*liah c¤ntah =ly kl<vill,loallrelaing to the Company sid #101117,ve been Jvolosed to or provi ed ID the

Clauses 18 and 19 10 21 end P=t 2 of Sgh,Owle 1 of the Implemertlauon Dead apply im Ifset out In ful ki 11119 agreement

10 Chiller-Compressor

(a) Aa soon BI Fidicable folowlr the date of this agreeme t mid *1 mly ome prlor toComplation, the Compmy wil proan th, rlplecement of the chmer-compreasormIn zoornaril wlth the '8*lon' section of Ihe ChIU-Comprmeor ReportPlani·oom No 3 stted# h Attachment B or other stralegy the Compirly, 0*Igreasonably, considers i* approp,We toriedve the matters with the chiler-comple=,5. On replacement or resolution of #M, m*tor:, 019 Company mustnoify Blue WI le 6-1 witfig that the chier-compressors Wve b=nreplaced or othen,Ase resolved The d* of slldl noOncatlon Is the Compressor FkDite. The Compmy must pay al costs r*iblg to 010 replacemer* of chler-comprmsormor mookltion of the cliler-compressors problema (md my encitarycostE) prior le Complebon

(b) 8,14ect b czie 10(0), ACM Nemnines eadi Company Group Member Jo *lyand mveraly, forany cost= artabg

(1) in the period b-,en Completion End the date 12 mor,ti= ifts theCompremor F. [)84.d

01) hm the c#1 or-comp<888018 not operath,g at a level remor bly expeed ofBuch plant and 8*lipme t (Indu*Ig any loss of revenue and =kil=y co<I518*10 drectly from the chmer·comprmori not op,rutN at theIfgllIll on,d leveD,

aftar clad,/ PU any Enoints received, or re iontly Rely to be receK,ed, frontABLE.„ or 00·tor 01110 par088.

(c) Ally dan under me Uwdernni in diuie 10(b) b 81*le(* tothe R]00#4 linliations:

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(1) dause 8.8 (notice md *10 *1* on clans) except Mt my dain inderClause 10(b) must be r,016ed Muin 12 mor,ths o¢ Compressor Flx Date E*Idnot 12 mor,ths altgr CompleOon: md

0) the rridmum labmty under cia•810(b) Is $200,000.

(cl) The Indemnity In this clause 10 applm displte every other provision h everyTri,ii, on Docunent, and Is not Imited by, v thout *44 grly SenerVmlianty, =ly malian dlidaled to Bkil Whale or my of Its Represerant*Ii, anyFinltation of my kind h ag Trazaction Donm ent any quallication or exclusionfrem labity bl relgBon to 80 Sener W ran% or sly r,18)dint,71 or mk*mmENnolmt of 84 Clain thI: rn,y o#len*, be made Inder any TransadonDoament other man the INalions set out h *ule 10(0) ¥,hic#1 wn apply to 8,9im inder *uic 10(b).

(e) To ths •*tlnlthe Inclemnity in this dalms 10 h provided In t,vou oram' CompaqGroup Member dio I not u perty to this ageemeni Blue Whale holds the b,nelltof the Indemnity on bust for t!* Compity Group Member.

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Schedule 1 - Dictionary & Interpretation

1 Dictionary

Buyer Wa anties mmis the V=,¥ties &81 ctrl kl dz#4 7.1 4 0118 agreement,

Butrir hidemnity meem the demnity glvall hy Blvi VViek to ACH lInder dause 7.5.

C=Ino Control Act m=18 the Cask)O Con#0/ Acf 2008 (ACT).

Castno Ucence mear,8 818 Icence isalled b CCL pliwi,Il b the Casho Cortrol Actwhich pe,741 CCL ko opers,te the Canberra Calino at 21 BhEn St, Ca,berra ACT,

Cd.Ino Regulatory Condmon meal the Conah Pleeder,t In dauie 3,1(8).

CCL means Casho Canberra Linked ACN 051 204 114.

Claim mesm sly alegib, cs,mi o¢ acoon. cla In or demstd of 5ty natin he,Asomer0Il8a End itiether preser,l or flet fixed or Ls,aice,t*n,d, adual or contingentwhelhar ut 1,#, In eqdly, inder et*te or other,%(sa.

Company Shari means a newly issued fuly p.id Ctrinva *ler, h the capital of the

Company Shareholder means the *seholders of the Compeny.

Condi on Piecedert means s concRIon set out h clause 3.1.

Commli.lon megr thi Auetralan Capital Territory Gambing and Ridig Commluton.

Cornfny'9 Solicitor means Gl,ert + Tdia L.mal 22, 101 Colrti Gbift Metouge.Vktorie 3000 (Attz,Won: Nel PaAak).

Completion means completion of the tran r of Sale 8*res und,r clause (c) andComplet] i I corrlepondrs meaille

Completion DaN mes,8 the data ort wNch Coilm|StiOn OCCUB.

Crown L./as* me ls Ble Ctoml Legs, h rgisaon bo the property at 21 Bir=a StCanberra ACT. dated 17 August 1991

Deposit has the meailg given 61 diuse 4.1.

Dlic!09,„rim tile meank,g given k) R in dallae 12(c).

Mluential Pe,son has the me,thlg give.1 to It unde, the Cashto Cortrol Act

Implementation Dead ma tho plimef*Oon deed entered *to on or sotnd theclate thls Veement betweert ACH, U,e Compiq* Bjui Wigh

Loan Trart*fer Dead mesru the logn hnelw deed entered *to ort or around 0,8 des ofOils sagement between ACH, me CompIV wd abe Whale.

Lz,an TransfEr Price min, thi umourlt of $24,000,000 as specified h deime Na) of theLoan TrEN,gfer Deed.

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3IHEIO*4700 1


Pirt= means the PErieB to this ag,eemert IM a Party means each one or them.

Purchasi Price has the mem g gvin to It h [12!Re 2.2

Relevant End [* meens

(a) tri rmpect of thi CaNno Regulabory Cone:lon, be d* Owt 18 12 mor018 after thedate of #a deed; md

(b) in rampect of gil other Condtons Precedent, 31 March 2018,

Sale St:argi means 137.004,377 CompE,ry Slwes to be sold by ACH to Bkie W'Pae inaccord=lce v,lth thll agrllement

SIller Wmrrarrtim means 018 wici'ville, set out h Scheckrle 2 of this agreement

Seler Indemnity means the indem*y glvin by ACH to Bkle Whale inde, c use

Sertiltlve Confidential b,form=tion hiI the meaning glyen h dause 3.2(4

Tax Rellef mesm the 186.0197 h TI or Duty pay,Na as a Imult of arly r.le¢,811,9nce, exemptioa excludo,1 6*off, deduK*lon, 1084 1Bbate. rennd. right torepeyme t or c™St grmlted or avalable h fesped of a T= or [kity wder any h.

Tranuction Doctments means

(a) the Implemerit on Deect

(b) this agiaamert

M the Put Option Deed:

M the 1-MA Tr=Mbr Deet and

(e) U-e Los, Terink-,gl1on Deed.

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Schedule 2 - Seller Warranties

1 ACH's Incorporation or existence(a) ACH 1, ckily c:orporatad and vaidy mdsts Inder the ls# of ti pia= of

*2001/athi

(b) ACH he ful po,44 and authority to o#n the Sale Shsm

(c) No Insohon¥ Event 1128 occlsred h relation to ACH.

M SO tar as ACH 18 atere, there am rK, tac* matiers or cb·clmst,tees , ch couldr=monibly be expected to ghve rise to an Irmolve•,c, Ever¢ 111 respect or ACH.

2 ACH's authority

(a) The execttion and delvery of Ull. agn),Til# has been properly allhor ed by allnociuary corporate action of ACH.

(b) ACH haB Ill power er,d '*4 80110*y to eoceale and deBver M agiesnent gridto Conelmmate and perform or cet a b be perfolmed RE oblgatorts Inder this

(c) This ageemBnt constltliee a legal, vald md bin dng obllgaton of ACHenforceable h =cordi= Molltl terms,

(d) The exec on, delvery and perform=re by ACH of Oili ggreement does not or wilnot (W h or 0111** 00 lap,I of tme, Ole *Ing of notice cr bc*h) Gor*BVene,conactwith or result in a bre ch of crd®*RIR Ls,der:

0) any Of th, Coneloon of ACH;

01) mly mwterl,1 term or provision of sly=astty imingement Uncklcmg =tySecuity Ir#imst), undeltald/W, agreement or deed to wN* it 18 bould:

(In) ally MIL order or undiort jlxignerlt or *u to Vilch It 19 a pedy or Isst*ct of by wt!101, It 18 bolsld.

3 The Shares

(a) ACH 13 the legal and beneficzl owner of, and can tangfer. the Sale Shmes fraefrom El $2<1#tty Interma

(b) There 1 no facts or c*cl,nitmce; thi could rgal# in the creation of a Saantytritmr* c,ar ti,8 Sale Share8 0(her lart a Pe,idttod Security Irlterest

(c) The Sala Shares have been vaidy mnotted and are fuly paid and no moneys seDI# h implot of Olem.

(d) 1-lwg 18 no stseholder a,aerne.*, VOCk g biet p ory or other agreemell orind Imidng relating 10 0,0 voting of the Sale Sharee.

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(O) 00-ler thm betweer, Compsly Group Members, there are no.=net·rt:,ar,1,4",T:,r*' or b : .6.-1' 4 6, p hIs ki r,/p'<* of 018 Company Sh/,e' Lnderwhich the Company h oblged at any Ine to Issue Bny .11.00, cor,vertibleloarties or other secllitia h the Comperly.

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Schedule 4 Intellectual Property(a) Trade m=k 1721670

(b) Trmde merit 1631412

1. Aust an bullness nantes

(a) CASINO CANBERRA LIMITED ACN: 061 204 114 ABN: 87 051 204 114

& Domainrl ne,

(a) ' · + .40, i.'corn.au

(b) n*/BE.com.au

Page 068

1,54,71=mon


Schedule 5 Agreed Public Announcement

Ml*JOCiBW M


ASX / Press Release

21 December 2018

AQ ISE N T A R T A I N M E N Y'

BLUE WHALE ENTERTAINMENT TO ACQUIRE INTERERS OF AQUIS CANBERRA HOLDINGS SUBJECTTO INDEPENDENT SHAREHOLDER VOTE AND REGULATORY APPROVALS

Aquir ErrtarCahment Urnited ("Aquit or the 'Companf ASX: AQS) is pleased to announce that Ithas entered Into a binding Implementation Deed (and reiated document*lon) with Blue WhaleEntert@Inment Pty Ltd ('Blue Whale7 (a company owned and controlled by Mr Michael Gu, theGroup CEO of Iprosperity Group) and Aquls Canberm Holdings (Aus) Pty Ltd ('ACH'). The transacBonmntemplates Blue Whalts acquisition of the outstanaing conve,«ble loari Ind 137,0 mnlionCompany shares held by ACH. Pursuant to the trilisaction, ACH will b·ansfeft '

• 137,004,377 Company shares to Blue Whale; and

• Its convertible loan with the Company ("Convert[b18 Loalf) to Blue Whale, following which BlueWhale v,111 forgive 8 minimum of $2.0'mition of the ConVertible Loan and then immedlatelvconvert the balance of the Convertible Loan to Company sharm at a conversion price of $0.20per share and subject to a c=p.

The above transfers wil risult in Blue Whale replacing ACH as tfle controlnng shareholder of theCompany with a sharmbolding of up to. a maximum of 86.99% ofAquk share opltal.

Blue Whale also grants ACH 8 put option III respect of Its remaining 26,867,497 shares, pursuant towhich Aol mgy elect to sell those shires to Blue Whale after approx:mately 3 years should suchshares.not have a value of more than $4 mlmon at that time (subject to cert In terms andconditions) (the above share trinsfir; conver·t#le loin transsetions and the put option belng the-Transaction').

The TransacWon h subject to sh=-mholder approval by the Independent shareholders of Aquls ondACT gaming regulatory approvals. Blue Whale mmy also terminate the agreements If certain limitedmat=tal adverse events occur. Subject to sataf,dori or wah,er of the condltions, completion bantidpated too occur In tiA seccind'quarter of the 2019 calendar year.

AquE entry Into the Implementation Deed was approved by tile Independent Directors of Aqu &1.The Independent Director, of Aquis unanimously recommendthat Aquls independent shareholder,vote In favour of the proposed Warmactions subject to there being no miperlor proposal and subjectto the Independent Expert providing a f=vourable opinion in respect of the Transaction.

' The lndepen dent dlrectors being thise dbictors beIN Ale,1 Chow VII aul, Rissell Shleids and Jls*Ic; MIMor(th,t 11 011 dlrectors other than Tony Fwil and Alli,gm Gall,4her),

Page BIB

Dec 21 2010 16:46:23 AED! Hi,r,imrE 1 1 im -> Fax Scruer Hi,[tcr Ellison

Key Trinsaction Terms

AQi'ISENTERTAINMT.NT

• Blue Whale to acquire 137,004,377 of the shares In Aquis that are curreritly held by ACM for $4.0mllion (equhwalentto 2.9 cents per share);

N Blue Whale to acquh the Converthle Loan held by ACH for $24.0 million. The loan has a currentoutstanding balance of $37 million with a maturity date of August 2024;

• Blue Whale will knlive a minhum of $10 millon of the Cor,vertlble Loan and then convert theremaining balance of the Corrveable Loan Into Aquls shares at a conversion price of 20 cgnts pershare, provided th=t Blue Whale may hot hold more than 86-99% of Aquls shares following thecomerslon and thetransfer ofthe sharesto Blue Whale; '· '

• Blue Whale will grant a put option to ACH In resped of,ACHS Nmalnhg 26,867,497 shares InAquis with an uerckse price of $4.0 mlion, equl,alerit to'14.9 64#0 per share, e,ter*able onthe eartler of 1 February 2022 orthreeyears from the completion of the Transaction (or earlierIn the event of a de#Isting of Aquls) and provided that the Aquis share price b less than or equalto 14.9 cents per share

• The Company will have the r¥lt to use the Aquls trade mark and brand for i period of 12months following completion.

The conversion and extingubhment of the Cdn ert[ble Loan pit,vides Immediate value upllft to theCompany and removes a medium-term repayment obegation. It provides Aquls with a more efficientcapital structure going fonvard enabBIng the Complny to focus on Its growth ambitions.

CEO of Aqu[$, Jessica Mellor, said, -The Tran=ction considerable value to the Company andminority shareholden:It recognises *e slanificaritly Improved operating performance of thebusiness and has the effkt of re,1„14/Ilig the eld,4 Convs«ble Loan with relat ely minh¥ aldnuoon to minority holders. We loak fonvard to working collaboratively with Blue Whale, who willbecome Aqlk majo,Ity shareholder if the transaction ks approved.'

Mr Mlchhel Gu, sald, Blue Whale was established as the future of IProsperity Group's growinglehaire and entertainment portFolio and thls transaction sets the business In the right trajectory torealbe Aesse pals. With our Wealth or e erience In hotels, we beleve this presents the buslne=with a unique opportunity to release this largely unmpped rrmrket and provide Canberra with moreworld class experiences'.

Blue While Intenl to und„t*IN Airtheruperadm to Calno Canberra, Including introduction of newworld class restaurant as weS = continuing to utilbse the premknii gaming facilities of the venue.Blue Whale's vision is to reinforce Casino Canberra as the entertainment hub of the nation's capitalto drive even greater numbers Of visitors.

Blue Whale is associted with the Investment manager of the SBAG Hot21 Group (Australia) Fund,the owner of the Crowne Plaza Hotel located adjacent to Cosino Canberra on Gleba Park. and $50mll o n Hoaday Inn Express development proposed for the same site. Blue Whale 15 =clted about thepotential future syneilles which could begenerated for Canberra Casino through this relationship.

Page Hi'1


AQI'ISENTERTAINMENT

Aquh Independent Directors unanimously recornm Ids the Tmnsaction

The Independent Directors of Aquls unanimou* recommends thlt the Comparlfs shareholdersvote bi fivour of the Transaction In the absence of a superior Proposal and subject to a favourableoplnlorl from the Independent Expert Sumner Han Assodates Pty ltd has been appointed = theIndependent Expert

Independant sharaholder approval

The Transaction h conditional on Aquis obblnins the necessary Independent shareholder approvalsto thee Tran$action, It 15 currently expected that sharnholder approval will be solght In a meetingexpected tobeheld In March 2019,

To that grid, further details on the Tran=ction will be Included in a Notice of Meeting, expected tobe sent to shareholders In February 2019, to comvene a Shareholder Meeting at which shareholderswill be asked to corsider the proposal.

Conditions ·

The Transaction 13 subject to the foaowing conditions:· .

• Blue Whale obtaining all nece*,pry ACT Government aiid casino icensing apprk,vah toImplement the Transaction, Includink any consentz required for the change or con#-01 of

.Calino Caribefra's cnsino Hcence;

• Aquk obtalning Independent shareholder approval; and

H anindependentexpert condudN that th« Transactiori *s either fair and reasonable, or notfair but reesonable, to Aqu s shareholders gnd maintaining that conclusion un l the date ofthe shareholders meetlrib

Blue Whale Is also permitted to'terrilln=te the transaction documents If certain Omitcd materialadverse elerib occur to'the Casino Canberra bislriess, subject to certain aceptions.

.WIN-

The Implement=Mon Deed contairs certain andard =deal protections* In faw*rr of Blue While thmtare customary for ,; transaction of this nature, Induding no-shop, no·talk and notification obligirtions(subject, In the case of the no-blk' and nonfication fght oblig tions, to st=ndard fiduclary carveouts).

Blue Whale has asreed to p=y a break fee of AUD 280,000 (exduslve of GST) to the Company If thetransaction cannot proceed due to ACT casino gaming approvals not being obtained,

A copy of the Implementation Deedi Share Purchase Agreement and other key bindingdocumenta tien MU be separately releAed to the ASX today.

Page Hi'2


AQIJISENTERTAINMENT

Appohitment of Allison GallaughIr as Irrter*n CEO

The Compony is pleased to announce that Ir has appointed Allaon Gallausher, currently AnancialController, 0 Ming CEO effective from 1 January 2019. Ms Gallaugher will r·eplace outgoing CEO,Jes,4 Mellor, who b stepping down due [0 perional reasons (refur 21 August 2018 ASXannouncement).

Ms Gallaugher has been with the Company stnce March 2017 and Is an experienced senior exeartivewith a strong operational stratsgic and leedership bacliolrnd.

For the term of this appointment, Ms Galaugher's b= salary, Incentive arrangements and otherterms and conditions of employment wMI remain unchanged.

N=t S Ps

Aquis shweholders do not need to take ally action st the prasent Mma.

Aquis b preparing a Notice of Meeting and Explan*fy Statement which will cont;aln Information Inrelation to the Transaction, Including reasons for the Independent Directed recommendation anddetails of the Shareholder Mee ing. The Notice of Mebing will also. Include the IndependentExperfs Report·

The Notice of Meant and Explanatory *,tement 18 expected to be sent to shareholders in February2019, and the Shaceholder Medng Es expected to be held In Maich 2019. Completion ks expected tooccur h the second quarter or 2019. The dates are In c,thre and subject lo change.

Grant Samuel B acting m flnartcid advisor and Gilbert f Tobrn bs acting as legal advisor to Aquis.

AboutAquis

Aquls Entettainment Umlted k n AS)( Bsted gaming and hospltllity compeny. Aquls owns andoperates asino C nberra Which li icquWed In 2015.

About ACH

ACH controjled by Mr Tony Fung, a Hol Kong re,Ident who Is involved in flnandal services andproperty Ir,vaifirient Indu ding 5*,Incant Imeivi,ents that have been made In Alitralla over thepast twenty years.

Aol hold Its Interests in Aquis Via Aquls Canberra Holdings (Aus) Pty Ltd.

About Blue Whale

Blue Whale 4 owined by Mr Michael Gu, the Group CEO of ]Prosperity Group, one ofAustri[12'5 mosttrusted bespoke advbory companies for h h net worth Invators- allie Whale is assodated with theinvestment mana,rof the 58&G Notel Group (Australli) Fund, which owns a number of hotelproperties In Austratia Induding the Crowne Pim Canberrs (located adjacent to Casino Onberra).

Blue While Is focused on developing assets that provide world dass experiences and showcaseAustralia le the world.

Page Hi'3


A(*JISENTERTAINMENT

For enquiries please contact

Jessies MelorCEO & Executive Director02 6257 7074jesslciOacRilserrtert:alnment-com

DISaAIMER AS TO FORWARD If)OlaNG STATEMENTS AND OTHER MATTERS

This announcement corrmins forward looklng statements, ineluding staternerrts of current Intention,Stmements of opinlort and predictions ms to po=thle Arturo events Ihese fo,ward lookingstatements are based o,Lamong other thin# the assumptions, e,pectIMons. estimates, object es,plans and Intentions ofAquk Forward looldng statements are subject to hherent Alcs anduncert@Inties. Although Aquks believes that the expectations reilected In any fonvard lookin stmtement Included In this announcement are reasonable, no assurance can be Oven that suchapectstions will prove to be correct Actual event ,results or outcom'es·may differ materially fromthe events, results or outcomes expressed or ImpOed'In any forward looking tement None ofAquls (nor any of Its oficers and employees), or any other person named In thls,rinouncement, corarly person Involved In the preparation of this announcement makes any representation or warranty(express or bnplled) as to the accuracy or lutellhood or fulliment of any forward 1061dng statement,or any events or results expressed or Implied In any fonvird looking statement, eocept to the extentrequired by law. You Rre cautioned not to place undue relance on any forward loot¢Ing statementThe forvard loo}ing statements In thk; snnouncerhent reflect views held only = at the date of thisannouncement · ·

You are encouraged to read the Notice of Meeting to be dhpatched to shareholders in connectionwith the Transaction.

Thks mnouncemellt does not take Into account the Individual Investment objectives, financial or taxsituatign orp=liallar needs of liliv person. It does riot contain finandal @dvice. You should considerseeking Independent leg I, financial and tnxation advice In relation to the corrtents of thisannouncement

Not a ditiosure doaimerrt

Thts announcemenf Is not 8 dBdosilre doatment and should not be considered as imestmentadviceor an offer or Imitition to subscr*e for or purchase any securities In Aqu4 or an Inducement tomaile an 01!62 cor Irrvitition with respect to such securities. This announcement dom not purport tocover all relevant Informationwbaut iny potential Investment In Aquisor any dedslon re&,ting toAquk

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Schedule 6 Put Option Deed

u//AMJMB/vI

Dec 21 2010 16:47:42 AED! Hi,rbm•Ellis¤n -> Fax Scruer Hi,[tcr Ellison Page Hi'6

Put Option DeedDati:

Parties1 Aquis Canberra HoldEn, (Aw) Pty Lttl ACN 167 934 992 of 21 Bhara Stre

Canberra ACT 2601 (ACH)

2 Ac,4 &1*»rtilnmint Umited ACN 147 411 881 of 21 8*ma Street CanberraACT 2801 (Company)

3 8[ue Whale Er-tainment Pty Umlted ACN 627 769139 of Le,a[ 22, 126 PtapStest Sydiey NSW 2000 (Bkze Whale)

BackgroundA ACH *the mglitwed legel wid beneticial owner of the Opdai Shires,

8 Rk- Whale hes agrwd to Want lo ACH a Put OF*lon 1.,Idgr which, folowN thea*erase of 8-8 Put Op on by ACH, Blue Whale wil be reEdrad b puct= theOpOon Shares, on the #nns mid cordtion, contaliied hulls deed.

TI.. BA, a„.Ii

1 Defined terms and interpretation

1.1 DeflnNIons in the Dictionary

A *m or expression sts&'Ig v,*11 a csaphal le¢tm:

(a) whic:h Is defned bl the Dicionay h Schedule 1 (DIctiol,iry), hae the meaningglven to Itin Ihe Dictormry;

(b) which h d ned h the Corporations 'bit but 18 not def ed kl the 01*nary' has0,8 meaning given k, It In the Corpor*lons AcC

(e) whic# Is deflrled ki the GST Lmv. but la not defned In 0-le Ok:lonaly or theCorporaaorts Act, 1= be me,n:Ig given to R In the GST Law; and

(d) al czpitilied Wirli Lmed h 0118 deed v,Ne# a·* defned k

(1) the Implementalon Deed have the m=*Ig given to thern h 018Impl,ment,ton Deed: and

(M) the Share Pl,chase Afnement hive the mia:*lg 0,en to me term 11 me81-rm Pudiase Nreement

Ur,1888 010 context requ es other,vise.


1.2 Int ,p,* on

The *Mirpr*ton clause In Schedule 1 (Dictionary) 8* out rules of klh,pratilon forthis deed.

2 Put option

2.1 Grant of PU Option

Bkle Whale 119,2, • Art Oplon to ACH to reqi*·e Blue W** to purchage tle OpOonShares tr the Opdort S ei Pl/C*me Prici, 81*ject to the terms and cxordtorts d 0-,Isdlti

2.2 EX@relle Period

ACH may only axerdse the PM 0001 h respect of #18 Opdon St=M * gny mine Ingthe Exercise Period, beN the peded begim ig at the e ler of!

(a) 0-te =liar 02

0) 3 ye,m trum the dam of Completion; md

(1) 1 February 2022; aa

M the Corn*any or AS)( rr,Mng an announcement of Imrninlogong b CompERSli.rmholderl that

(1) the Compeny 1- macle a regiest to ASX to be remo,ed from the ofllcial Iltof Yle ASX and the AED< hu v=*ad d n,cessary approvals, and mynecess=y shgrlholder approval has been obtmbled in reeped Of 81<11removak or

01) the Comp,rly M removed Irom the ofned Ist of the ASX or suspended fromtrad:V fora period 0 80 d,ye or more

(Option alskg-Ity Datl).

and encip on the date

(c) In relanon to cktme 12(11 on the d* mat 18 30 days afte, the Opdoi MgtullyDita cr

(d) Inrelation to dalme 22(b), on the date DIal 18 10 days after Oie C)*n Matulty

(Exercls• Period).

13 Enreise of Put Opoon

(a) ACH may, st any tme durbg the Exer*l Period, exercise the Put OF*lori *1respect d #,e Option Shges by deivering the Opton Notice to Bkie W leprovlded that the Opoor, Sharm had a vakle of not more th=1 $4 Ingon besed ort 10 day VWAP to the dose of #Idng on the lay prior to the Option M-Ity

(b) Th,Put Option must be e=ziled In r-pector al of the Opion St*Ba.

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14 Lapsi of Put Option

If the Put Opihi hi not bin Ixerdeed before &00pm (Metiolsne #ne) or, Ile last dayof the Exercise Period. It al*OrtaliC+4 hpiet

15 Put Opdor, bmdlig

On the Exerdge Date, a contract ariwi between ACM end Bkle Whale Imder wmal, ACHmust sal to Bkie N,gle, wid Bkle Whale mLe buy, ele Option Shares at OpOonCompleoon, in acco,721,3 w*h thi t,trns of this deed.

18 Obngstlons of ACH prlor le Option Complillon

ACH covenants and agne• *11 Blue Wriale thst at all Dnes beeMBen tile dde of 0118dead and Opnon Complelion, R V be thad® 1,gal md beneflcial 0*ner or the OpknShares, md tt va not gl grly Ume ped vAth possession, e•mnber, dlerge or 00=wlsedeal Hlth or grad =ry rlgl to =Ty Ullm perty I t relation to the Opion St,arm

3 Conditions precedent

3.1 Condl ons to Option Completion

Olher than the obigalons h dausi 5, each of ACH, the Company and Blue Whgle areonly obliged to perforni t)dr obl dona h rel*jon to 0$*lori Completion if me fole *lgConditio,1, ive bean **jil44

(0) 01, Company oblains al Wproval cons.ill, lulwon orother authorlsations funeacA of ASIC Ind ASK nacess,y for Option Complenon to ocair (If elly);

(b) 01, Cor,¥sly obtabs approval mqund from U» MWiter for Rac*Ig and Gallingfor the ACT (or NI or her delegRIA), the Commisciors d F- TrBdil ACT, or anyoeler approval or auth *lon r,qdied under ACT Gan lg L.e ¥ niceamy forOpkn Completion to ocar (If 'ly); Ind

(c) 018 Compuly Obtah= ml necessE,y stseholder approvals requ d by 0,8CorporwOons Act and the AS)< 1-It*tg Rules kr Op00,1 Completion bo Dear (If srly),

In each en,A, eilher unconcition* or on concmlons that do not inpoGe unddy onorousobiggoor, on any PE ty (acthg reasor,14), ind pro,Ided 0,088 approvalg. conse,14nehers or other maorlegdons have not beerl v,«hcbmvn, c c,Hid orrwoked on theOpdon CompleaM Ddz

3 Bam =sav

(s) Follo,*lgthe Exercise Date, each Party mlist L,e rimonable endeaVOLMS ta:

m satisfy the Conc n, Nkri the End Datei and

(6) co,operiti wle, the other P=ty in d04 Niye*ig rmionably neces=y toSal]84 the Corddor», to ttle eortent,4«1*1 each Party's contid =ld It 1,reelinm/A for a Paly b be r *ed to ulder ke the relevant AcE„,&

(b) The obll*orm h IWI *188 3,2 apply nohvIOIstaridli thmt Blue WI,le hal paidthe Option Stses Plria,# ** Price to ACH pirmmnt b dause 5(a) of this dead.

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3.3 Efkct of falur, to meit Conditions

Arly Party to ttls deed may rrilir- Ulls deed If any ConciMons 819 not •*lillad by theEnd Dabs.

4 Bonus issues, reorganlsations and new IssuesIn me event of Sly rD<]19ml880011 018#ng recor, diorl, con'id#/0 sub(*4004raduclion or retrn of capltal of the isaued capital or 018 Company, thernimbe, d 00*nSNares ove, NA**h thi Pli 0010,118 Miarc able w[1 be re-organlged as would berea*ed by the Usth,g Rul= If It spplled to me Put Op 011 bl* h d dher reepects thetains of oxirclge w rerna 1 lizi,enged,

5 Payment of Option Share Purchase Price(a) Within 10 Bullim Days of the Exerdi Out# 81,18 Whale must pay the Option

Sh=·es Puri,Ii Pilce to ACH, provided lit ACH hl complled ,%101 al of itaoblgaOons under this dead-

(b) The PieS dulodedge and agree that the Opdal Sh,res Purchase Price ispeyable as a debt due frorn Bki Whale to ACH for the 0:*6,1 Shargenotn*ilitmnclng thEC

(1) the value of such Opion Shores on the ASX on the Exereise [)* orcri the0*n Complelon Daie 18 Ims ther, #le Opdal Shares Purchase Price; and

01) some oral of the C**ion St,m carnot be tansferfed te Blue WI,le or, theOpUon Compledon Date because a Condition li not gatidled or OptionCompladon has riotoccured or wl not occut

(c) This c .1,8 5 Iliv*Is termirmOon of tia dead,

6 Put Option Completion6.1 Option Completion

O 410,1 Complelion mlst ocar on the date 10 Busliess Days *f*r Bk,e VW,ale hes gl,ennotice *' Mittr to the Conply and ACH (bogither with Bupport g evidence) thgt all ofRie Con or= hme been 8821118d (Option Compladon Dat,).

8.2 Blus Whalet Option CompleCon dillvery obligations

A! Ofl Compl on, Bkie Whale must de rb ACH gr,d the Company:

(s) c;Ny executed WIstrirnerti, of tnfer of 0-18 Opoon Shares, h vie fwil roc;*ed bythe Canpeny'I share re*ey; and

(b) mearted Colitterp ts of Ily oe»r doailnents requh·ed to give effect to OpOon

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53 ACWs Opaon Completion dallvery obBgatjons

S*ect to Blue W!,10 Ilav#Ig satsned h oblg/0118 under clatme 5, a OpOOnC nplitIon, ACH must delver *1 Bkie Niale:

(a) the Option 81-zrm, tie nom Security Intmrast]:

(b) dilly miaaitacl Intlrnents of tran*fer of the Opkn ShEres, 6, the bm reqi/rgd bythe Company's •1,8 r,glty;

(C) 8=ellted COLS,tul)*rts Of any other doami,enh r™<*ed to give eflid to OptionCompletlon: md

(a) a wrIUM dedirition 1= the purposa of zedion 14-225(1) k.1 Scheckde 1 lo the78)(8#on Ao )hh 80 on Act 1953 (Cth) t ai at 01 nes belweein 018 ciate of Alidead md 01*lon Cornpletion, it la m Australan residert

6.4 Company's Option Compleoon deively obilgstior»

At Option Carrlpldon, the Company mit

(•) logept the Istrunentz of nnill delvered wider cimul,8 6.2(a) and 6.3(b) forregi*bution and hsert Blue Whale'a ngme Into the Company rm*ter . the 0*nerof the OpOon Slur< and

(b) deivs to 849 Whale a hoking st=immerrt In respect of the Opton Shgres.

6.6 Interd,pendence of obtgaoons at Completion

The obig lons of the p=Oes inlar thbs dguie 6 are hterdepanclt wd mUit beperfomed, 88 nesly = pouible, simllaneOL*. 0 uny obllgaion specified In dause 6Is not p,rformed on or before OpUon Completion then, w*hout #,Mig any other right, ofthe Psia< Opoon Completion Is lakert not to ll ve occurred and 4document deliveredor payment made wider clmle 6 mustbe rehmed to thi Ps,ty that delvered It or p,Id I.

7 Representations and warranties

(a) Each P=ty retxmarrt, and WENTEN*8 to each di,er Party that each of the R*,A*,gI»meriti Is #in md •caimti on e dai of 99& dead md wl be tnie andacan* m It Option Completiorc

(1) (authorl ) It has fulpoaw wid all ority to erter WD sne ps,folm Itsobig=tor wder this deed;

(1) (auutorlsations) it 1»a Ikgrl 81 neoessaly action b al*horlle the 8191*19,delve•y and per innaid of ** dood In accordance with b £81-rr# and

(lit) (binding oblgation,) tii deed conatm.Itas itS lagmt, vlld wid blndngoblggione and Is enlorceable h Icci„Canoe Mlth its tsmi

(b) ACM represents and weNTs,ti 41 Blue Whale thai =111 of the #010*lng stalan*rt'is lue Ind accuite on the dea of IWI dged and wl be l:ue Ind 060*nte 88 atMort Compledom

0 It lithe legal End beneici•100¥nsrof, and can transfs, the Op#on Sharesfree from mi SeCL,Ity Irrterest8;

Pam i

am=02 M


(1) there afe no facts or drctrnstaices thst could result h thecristion of aSeasity Int,Ii overthe Option ShEres other than a Pemittad Saarity 881;

(I ) the Option Shmips hm been valkly alotted and are kily ped and nomoneys En oweigil respect of *rn;

M then : no si-zreholdor vement volig Oust, pro*y or other 8,=ner* oruide,Btandlm relad,g to lhe votag of *le Opdon Shgr,8, Id

M other than bet-,1 CompQ Group Mimbe,8, there afe no ageement £,iangements or lnderstan*ge h Ace h rmpect of Ute OpOon SharesLrider v,¢*#1 010 Company 18 obiged ai my nme to Issue any •111*convertible Seclzuies or*her IogulteS kt the Cornparly.

8 Termina on

a.1 TermingOon

Thls deed termirmles on the f 'st to ocas of thi *10,¥Ing

(a) ACH sals d of the OXIon Sharm

(b) thi Option Shares had a value of moce tl n $4 mik b-KI on tile 10 day VWAPla the dose of »*Ig on tile dey prior to the Option Mahfty Dete;

(c) OpOon Compli,kn occln: and

(d) a Coneltle,1 18 not salfied by the End Dek

8.2 Effect of tmmlition

9 GST

Ter,n on does rid amct any rIghts or obugatiorw of the Par em **Ig beforelern*lation of Ate deed.

(a) Any con, demtion c =nourt peyabl. under ttls deed. Indlking my norMTIone#lycon.IderaOon (Consideration)is =ditdve of GST,

(b) If GST or becomes pay,Ne on a Supply made ls,der or 111 cornection •401 tihdeed. an addluond amotilt (Addl 01=1 ArncEmO 18 payable by the PE ty provkmlgthe Corilds:vtion fbr the Supply (Ricipint) 8*.d b the snouu of GST payableon that Supply = c:alcligfid by the PErty mak*Ig the Supply (Supplier) Inaccord/ce with the GST LaW.

(c) The Aci,litioriel Amout payable Mider dause 9(b) 18 payable at the zarne *no andh the Bame msyler as the Coridel*lon for the Slmply, End the SUpplier mutp,ovlde the Recipient wlth a T= Invoice m • pre-Qondition to peyment of theAdatiod AM,4

(d) If br my r,seon mckdru %44#Olll *Mak be ocasr™·100 of 8,1 A*minert6,1% the Omold of GST Wyable on a Supply made Mder or h comedjon %%101this deed (k*N indo account Iny Decreas g or Increasi Aclustments h, relalim

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10 General10.1 No///

to thi Supply) VENIeS trOm the Additional Amoult payible by the Recipient Inderdause §(b)

(1) the 64,pler must provide a reftnd or crncit to the Redplent or the Recipientmud pay a futher Imour* to the Suppier, as appropr!*

OD the raand, cr,clt or Alther Inoirt (as the case may be) wil be calculwtedby the Suppier bl oggo,00,!lge ¥Ath 0» GST Law, and

01) le Supp;er mlst notify the Redpient of the refund, cradit or flrther ourt*th 10 Bitei„,m Dep Ilt ,r becoming a,ge of the variation to the Nnoutof GST payable. Any rellnd or efecit mt.=ticx:ompiny such no«lication orthe Reciplent must pey ally luther amount with* 5 Bushiei Duys otterrece*,Ing such notic*lon, m gpproprlati, If there 18 an Adlustment Everrt h111 lon to the Supply, the requh·ement for Hie Supplier to notlly the ReclpientdI be =Med by the Supp[Ier 1991111 to the Reciplent arl A*=trret Notewithin 10 Bus ess Days tter becomhp IMR of the rmNrence of theAd)*merrt Event

(a) A nclice, cormeri approval. v ver or other comnlrdca orl =t by m Party U,der0118 deed (Notice) must be h v01*Ig, 8,111 by an authorIBed representah=ve of theBender, 11=ked tbrthe attention of the person named below, and mlmt be:

(1) left at or sent by collwnsdil Wlzler to, the address Set Out below: Or

(0) sent by 11,0 to the ad(*ess set out belo#.

ACH 0, tile CompaMY

Anentiere Alion GelaugherMihmt 21 8*,ra Street C=lberra ACT 2801

Email: Alhon'Gal wec886-« &· cox/,

¥Ath a copy (For tfor,111,iion puposes oril!,) to Nel Pathak Glmert + Toth' atnp *001..com.au

Blue While

At/"dkirA£kh,I

Emat

Kevin FanLevel 22, 128 Philp St,met Bychey NSW 2000

kevin.[m,OiprOB*ty.com

(b) Sublect to clauee 10.1(c), a Notice is taker, to be racal,MIct

(1) If Bant by delivwy, when It k delivered

(1) If sent by collmer*J courier, 3 days anar apat:h;

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$403«120-2261 v 1


01) Ifient by email

W when the sendarrmcalves m automated message conth,hg deivsy;

[m rour holis aner the tkne sant (= mccided on me device from wtllchthe entail val Bent), provided thai the sender dom not rocebve an*Aor n Med me•*agi tiot Ute emal has not been aver#

Mikliever 1 per It

(c) If a Notice h taken to be recelved 10,der da- 10.1(b):

m before 9:00am on a BL=Ineam Ogy, R ¥VLU be taken to be receNed al 9.008moi th< 84*1888 Day; or

(R) after 6:OOprn on a Bu ess Dey ar on a nonau ess Day. It wl be taken tnbe recelvid at 9:000,n on the na*t 81*888& Dey.

10.2 Governmg law and jurisdiction

(a) This deed is govemed by Ile of Victoria

(b) Each P81'ly Irr•vocably Kibmlts to the non-ackisive jtmiSHOn d the courtB ofVIctorla and couts competant to hew gpp from those COlita

10.3 No merger

The rights,nd otaggtons of the Paroes do not me•ge on compl,tion or the ProposedTransactiort They mivlm th, Reartion and delvery of =ty assignme,1 or o#herdoalner,1 errtered Ino for the plzpaie of Unpl,mentlru the Propoged Transaclon.

IOA Waivers and conier,Im

(a) Falkn to exeroise or en orce, a delly h e=d,klg or enlordng. orthe panklaxerrise or erbcem,rit d elly right powworremedy pru,Ided by h or uider0118 deed by 84 PE ty does not h my ugy pridude. or 008<848 88 a waiver of, Imyaxerclm or entbrcement or fulher exertize or eflforc,ment, of #lator my otherright, pover or imnicly prov1084 by la,V or inder this deed

(b) Any nlver or consent 0ven by a Paty Lmde, ul deed 18 only elk:Ove andbhing on that PErty If It li glven or conflmled In writh·Ig by that Party,

(c) No v.iker o# 8 breach of any tirm of thi, dead opal*me. as a war/er of LI,otherbreach of that hm or 4 9 bra=*1 of any other term of this daed.

10.5 VarIEtIon

Thi deed may only be vafled by • doolmentsigned by or on behalf of each of theP.WN,g

10.6 Assignment

A Pa,4 may nc* =,Ign, rovie or oolen,(se bstsfer my d b *0*mor ob*ga#ona uldgrtile deed wl#out the prior wdtian car,se of ete other Pa:ies.

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10.7 Further action

Ead, PS-ty must do 0*Igs arld execute alltlrther doctsnerit] nace,mary to give Illerect to Olls deed.

10.8 Entire agriement

11* dead sup,riedes al prevIQue aveement*, ,der-,clrip, negoagnoin or deeds ilresped of its sltlect m=ils· ind embo 1,8 the enth agreement between the P,11*I.

10.9 Severnb[Nty

If the ¥41018 or,ly part of a provldon of thia dead b vold ini,trorceable or legal h aju.ciden, M Is sever,d R,r thstR,19(1(110,1 biA only to the =dent t It 18 voidinerincceable or legal midi provided tiwt It v have ful force and *Mect in any <113jutictdo,1 Where a provl,lon (or =ty p t Biarnal) 1, Bever,d h a KMIsdalon. thefe,11Bel,r of thlm deed 4 1-,Grve fu force and el ed in Ihat (and any olle,1 ).E-biclcuoiz

Th dE,Ii 10,9 does not apply to 8rly se,erance t,4 =Ibers thi basionature of OUs deadoria con#ary b publc poky.

10.10 Courrt@rpert,

Thle deed may be =8Culad bl =ty number of c=le,parts. AN colliterpaits together v,ilbe Ike/1 29 Conltltlite one Ins#llilenL

Schedule 2 Dictionary

1 DictionaryIn OUs deed:

Additional Amourrt li the meartir, given 10 It in dause 9(b).

Buitne= 04 has me mes,N glvert in 9,8 AS)( Uct Ig Rules

Company Share means a fuly paid ordhiary share hthe capital of the

Company Shar,holdor• meens the 81=eholders of the Compaq,

Comple¢lon hal the meaning *en to R hi the S Irm Pl,chms Agreement

Conditions mean the concitior n praced®1* b OpOon Completion set Od 61 dmiia 3,1,

Cormider,non hasthe mler*Ig 0,en to It Inder dause 9(a).

End [)ate me 812 months alterlhe Exe,dam D.te,

Ex®rcise Dati mests the deecksing Uie Exerdee Period on which a Seler gives to theBuyer a ¥/1-Itten notice h accor,18rtee with Cial.18 2.3,

Exercis. Period 1= the g ven h dauge 22.

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GST mear,8 goods and ae,vices tn or*lar value added tnx I,vlid or nposed BlAL=trmis under 0,8 GST Law.

GST Lav mear18 018 sane = "GST Iv,r means h the A Now Tax Sysfem (Goods ar,dSen,lass Tax) Ad 1999 (Cth).

Impl entatlon Wed means the im*mer,Mon deed between ACH, * Company andBlue Vizle, amer,d klbo on or arou'Id 20 Dm™nb" 2018.

Option CompleCon mems complekn d 0-18 88* and pinch®** of 0-8 Op80,1 Sharesunder dauss 8.

Option Completion Dati has the mee,/ng gbven Itln clause 8.1.

Option alattrity Dat* hm the megning given to It in fb#* 2.2(S).

Opill' Notice me=, . notlce 0,en by ACH to Blue Whale 111 accor k/'Ce Wih r!./.Fe2.3111 the h!11 set oll in Arman A

Option aharni rr= = 26,067,497 Comp,ty Shens held by AGH 88 at tile fts¥IM of Ulladeed, as adlusted h aceor, moice v,101 dause 4.

OpOon Shares Purchue Price means *4,000,000.

Partes means the perOes to th18 deed md a Party Insans e**1 one of them.

Put Option means tie option to re**m 8kie Whale to plrch=e the OpOon Sh/.4grliled in C me 11.

Recipient hae the meaning give•1 to It b·, de e 9(b).

Shari Purchase Aveament mians the stse plrd=a •greement between ACH AndBlue I*tal@, entered Into On or arold 20 December 2018.

Supplier haB the mm,ring *in to It In datme 9(b).

VWAP memit voksne wighted average prlea

2 Interpretation

In this deed the folam r,16.- 01 M=pre¢.th apply do,8 0-le conbary [ritandonappeen:

(a) heedngs are for corwmilince only and do nd affect the Wirpr*tlon of this deed;

(b) the Sirlmir kild- the pkral md ves vena

(C) Mwdithet'B gender neutral or gsxier specllic Milde each gender;

(d) where a word or phr ie ls given a partclh me=*Ig, oth,r p,18 or #rww„97 mdgrammglcal forms of Ihal 't rd or phrale hsve correepen¢61g magnblgo;

(.) the WixdB 'such .4, '*1'lu</ret, 'psOculsly' tild lililir Ixpres:WIMIs a.e not Uled94 nor en Mended to be, i**prited 8.5 w ria of imitadom

(1) a reference tz

34/2-8020-12/1 Vl

Dec 21 2010 16:58: 17 AED! Hi,rbm•Elli=¤n -> Fax Scruer Hi,[tcr Ellison Page 1

0) aperson hdud= s rtutia perBon. par*tership, jo# veitin, governmentagerq. associath1 corpollbi or oltur body CKXpork

(i) a Ollig (hteludng, but not Inlted to, a chose in ac80,1 er othar 1-Ight) In desI p,rt Of Otat th,10 ;

(It) a party Inckldles tz succe•mon and permmed assigns

Ov) a doctment Wkide= 811 m,In *nentB or sl®plemer,b ID Ihit doamlent

(v) a d=34 *rm, psty, scheckile or #tac nant li s r,tgrence to a dause orte,m of, or plly, de*,10 or #Rigment to this d,Ii';

(vi) this dead hc*Id,8 al Bcheckles md attadvr=*m to t

M) a Imv Inckldes a constillitia,)Al pruv*im trlgty, decree, convention, sti,4regul o,1 cr*lance, by-law. Ndgment rlde of Immon lav or eNty and isa reterence to thet hwI ,mended, consoldated or replacit

(v[1) an agivsner* clher thEn 015 dead includem m uriertal*10. or legallyenfor©88Ne art,lgemer* or lilder*NICIng, Illether or not h mt#; grid

(b() a mone(My -101* Is h Autalm dolar

(g) eii agivern.Ii on the part of two or more pediw,1 Mdi them jokilly and saveraly;

(h) %¥hen the day on,%111ch =nat ing mut bo dor» 18 not a Busir Dey, t!.0 0*10must be done on #le *loWIng &:Sitess Day

0 kid*rm#IN thetlme of day, whe,8 rel,vgnt to this rt,¥¥1 the rale-,1 rne of dayiS'

(1) lorthe plopoees of giv# or receMITU,101,(m, the time of dq whe,a , partyrac *lg m nodge 18 locatet or

(ID for Niy other plrpose LE,der #* died. the Wile of day ht the Ace wher, tileparty4red to perlorm m obl gadon il loc=tad; grid

0 no rule ofcon,1,12(100,1 appi= In the Iadvulage of a pa,4, becmme tlut polywas rgspon,Ible for 0,0 preparallon of Als deed or my part of It

In


Execu on page

Exocumd= a d d.

SIgned, 98aled and deavered tr Aqd= CanberraHoldbg (AL=) Pty Ltd by Its guorney inderpofmr of adomey ted 12 De=riber 2018, whohas nonot. of revii,„11<wn of that pcierofanomey hmepre,enG, t

Sigrdn of v*n,so

Name of Ilmess (print)

4*ndWomel

Name of attorney (print)

Page 007

==2,1


Signed, sealed md delvered by AquisEritert,Inrnint Unit,d h accor ,ce v*hmedian 127 of Uti Comora#ons Acf 2001 (Cth)

Signature of drect= %98 of dire*11*ecre*

Nsne of dbpc:tor (plt-10 (PrlrIt)

S,as«102"2,1


Slped, sealed and ddhed by Bh» WhaleEritartalnmint Pty LM h accorcle,ice withsection 127 of the Comora#ons Aot 2001 (COOby:

Signaan of *ector Signan,re of r -4·r' -,-/, 1

N ne of c ctor (prklo Narle of diadollsic,Ytn (PrIU

-2Em0


Attachment A Option NonceTo: Blue WI=le Er,!crt,Inmer* Pty Umlted ACN 827 759 138

WB r*r bi the Put Option Deed (D-d) bet-n klula Cmbem Holdhp (Alm) Pty Ud ACN 187934 992. Acitis En•0*mer# Lknit,d AON 147 411 881 and BIL WI le Erdert,livn,nt Pty LlnltedACN 627 769 139.

Plnuant to c use 13 of#le Deed, ACM exerdges Che Put Oplion in Mepect ofal #le 0 fon Shares.

Al cmpit*ed t»m Lied In this notice #Uch n defiled In the Bed ve the me,*tg given to themh the Deed.

Dateek

Execut»d by Aquls Canberra HokSng,(Aim) Pty Lid ACN 167 834 892, Ilaccordinci *Ith sedlon 127(1) of theC(Npor,#ons Act 2001 (Cth):

Slg,*re of Dir,c Secrgtary

N no of 0*,*r/Secretary

8 *st of Dkec*or

Name of Dhotor

Page 090

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Schedule 7 Loan Transfer Dood

3454-7 3•47¢ .1


Loan Transfer Deed

Delm: December 2018

Parties1

2

3

BackgroundA

Ag* Canberrm Holdlngs (Aus) Pty Ltd ACN 167 934 992 of 21 Bbara StreetC,Iberra ACT 2801 (ACH)

Aquis Exaertall,nent Ltnitad ACN 147 411 881 of 21 Bbgra Street CanbenaACT 2601 (Compiny)

Blue Whale Ent,rtair,nent Pty Ltd ACN 827 759 139 d Level 22, 128 PhtlpShe *ey NSW E. (B-W )

ACH and the Compaq are psties to the Irdercxxnpmy Lom Aggerried grid loanCorraiia,1 Dead.

8 ACH hae ¥eed to hi,sfer and =111 to Blue VIrle b enth right title Indb==t 111 and to the Inticomperly Loan Aureement mid Loan Conversion Deed,and to transfer and assign the Corrvert#e Logn to Blue Wh@le. on the terms widCOnC|to,18 982 Oll| In this deed

C The Company has agreed to conser# b Mie ==Igint d #le ACM'8 right title sidlIntgrest h and to the Wercompany Loa A,·eemerd mid Lom Convs,lon beed toBlue Whale mid the #irider of the Converm}le loan to Blue Whale, on the termsard corduorls sall in hz deed

m' 0,8-agn,

1 Defined terms and InterpretationA hm ore*ression ui,thg wth • cmplt llettwi

(a) which h delblid li the Dictionary In Scheckile 1 (DIction=y), has the m=*,ggiven to it In Ola Dictior=ry;

(1) w#ch 18 -flned In the Comoraaorts Act but 18 nol de ned in the Dicaoriary, hmthe meaning givi to it h thee Cc par*kon, Aot

(c) which Is def ed In the GST Lav, bul 18 not dehled h the Dicticimy or #leCorporalons Act Im be meaning ron m It h me GST Lav: and

(d) 811 c,01*ed *ins used In this deed *Uch are defined In the Implemer•*611Deed have tile m=ling give,1 to 01,111 DI the Inplemeritston Deed, unless thecontext requires oli,8,14(se.

2 Conditions Precedent and termination

2.1 Conmons Precldent

Al rvds Ed obigabon, LE,der ti* c ed En:

Page 092

41741*7708 vt -I1


(8) 8+Mect to the Con(560,7, Prkadd being wilid or,*1811* and Complekn0©gu-rtr,; and

(b) Mil be deemed to take ellect innecfalsly prior to the tbne gt v,hlch Completion

2.2 Termination

This deed wal ter,nii, ta if the Shara Pue,- AEFe,mer¢ 18 Wrmhsted h accordE,Icewith clause 8 of that agreement

3 Assignment

(a) Subject to dauge 11 and cor#ainporaneous *Z and 81*et 12, peymer! Inderctalme 3(b), ACH must Ow,fer and aulgi to Blue Whale

0) el of ACifs est,te. right Me, lifered End recelv,Ales 61 the Irte,tompanyLoan AE,meme,1 =ld Loan Com,nion Deed; mid

(1) tl» Corrverm,le Loan ,¥Rh the 01*staric,Ig AmOInt

(b) Coltampormeolm wah, md sublect to, hinziN md asaignment l,Id,r deusi11( ), Blue Wfuale mit psy $24,000.000 §0 ACH.

(0) The Interoompally Loan Agreement sid Loem Convs,lon Deed gre amendld onCompleuon = recomilyb give ejmctto dalme *a) and to replace ACH %%«hreferences to Blue Whale in those doainsili.

(d) By =ea#ng this dead, thi Company Is deemed to have provlded 81 consents,*en al drecilam and wnived •1 nc e not e pe-* wid other re,11*TR,71 witBneoes=y to e ed the 288*rnerttalder daze 3(a), Jalher Liider theWeivompmy Low Af,min,rK loan Com,er,lon Deed or othe,wise, Inclu ngprovic comant for the pl,pose. ofdivie 7.6 of thi 11*grcomparly LoanAor=nent

4 Representdone and warranties

Esch Party r,premilts end WENTant8 to each other Psty that

(a) (airthority) It has ful pc,ver and BLithority to eriar *b /nd p/!for,TI lt, ob/tfvjortsunder this deed:

(b) (authorisations) 11 has taken al necessary ®clor, to ,ue,orhe the *4, delveryand Pe,folmsnce of this deed In accordance with as tm,ls: and

(c) (binding obaganons) this dead cor**Lite, It, 1,514 v,Nd and binS,g oblgator:8and. enfbrceable h accor*nce with Its terms

5 General

Clauses 18, 19-21, sid P# 2 of Scheckh 1 of the Implementation Deed apply as if setout in Il,0 l l 0118 aveeme,t

Page 093

8 7•Oli54nol ,1 pli.


Schedule 1 DIclionary

1 DictionaryIn this dead

Company Shargi m,ens Ally p,0 01*lary 8hares In the capital of the Comp=,y.

Complevon has the mearthg given to R h the Sh=-8 Plrclme Agir,mert

Conditions Precedent mem the concitions pricident *1 Completion Bet od In dause3.1 of th, Shle Pisch@88 Agreement-

Convireble Loan meam the loan made by ACH to the Compeny under theImercomperly loan A ement

Implementation Deed means the inplemantmtion dead botwe,n ACM, the Compmy andBlue W#e, entered Into on or around the min of this dAA,1

IrriBrcompany Loan Agreemint mearts the kier=nparly Loerl AEreement between theACH (am lende,1 end the Comparly (aa borivAted ebated on 4 November 2018, gi set outIn Sdiedule 2

Loan Convor,lon Deed mear,8 the Amended End Redated Loan Corn,enion Deedbehveen the Company end ACH dned 4 Nminiber 2016, p(nuant to wl ch ACH maygorr,Irt the Out,tand,Ig Amolnlb,to Company 8 94 - sot out In Schedule &

Outst,Incing Amo,mt mes= the =904# 0,4ng by the Compan, to ACH Inder theCoriverUble Lom from time to Ume.

Party means a psly to thls dead.

Share Purch=,e Agreement meom the share plrchase aggement between IIi®Comp ty. ACH and Blue VUle, entsred on or grould the date of th#s deed.

Page 094

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Schedule 2 Interoompany Loan Agreement

347*1*7708 vl P•,14


Glberl + Tobbi

Intercompany Loan Agreement

Date: 4 N(>bAE££ 20 10

Parties

1 Aquls Canberra Holdings (Aus) Pty Ltd ACN 167 934 992 of 120 Spence Street,Cabns, Chieensland 4870 (Lender)

2 Aquis Ent*rtalnmerrt Limited ACN 147 411 881 of 21 Binen Sueert, CanberraACT 2801 (Borrower)

n.0..ee

1 Interpretation

1.1 Definitions

Borrower Group means the Borrower and Its subsidieries.

Builnm Day means a day that ks not a Saturday, Sunday or public holiday h C=lberra,ACT.

Drmvdown Notice t= the meaing given to Il In clause 2.1(a).

Eff**Ive Dgie has the mean# gNan b M In clause 2.4.

Ever,t of Insolvency means:

(a) a recelver, manaF, receiver and mmager, Antee, admbletrator, controller orambic*TIoer h appointed In regpectof a perBon orany asset of a person:

(b) a Ilculdator or provisional Iq detor i, appohlted In resped of the corporation:

(c) any applicanon (not being an applicallon vvi drm¥n or dism|88ed Ihin 14 days) Ismade toa colft for afl order, or on order is made, or a meethg 18 convened, or aresoqullon Is passed, for the purposes of.

(1) appolnling a perion referred to ki p•Euaphs (a) or (b);

(i) wlnding up a co¢poralion; or

(m) proposing or In'Iplemer@Ig a echerne d 8,78„gen,Bil;

(d) any event or conduct ocan ,% loh v uld enable a court logint a pellOon, or anorder 18 mado, for the b=*uptuy of En Incividual or his eltato under anyIr,solvency Prollon;

(e) a mor*rkrn of any debts of a person, of an 01!ki# ass*unert, ora composmon,or an armimement (formal or 1*174 v/th a person's creditors, or Nly slmtsproceeding or arrangement by which the assets of a pernon se sublededcondmormfly or uncondmonaly to the con 01 of that person'e oreditors ora m.latee,b ordered, deolsed, or agreed to, or 18 applied for and the applloalon 18 no(wIR-lcfrawn or cllamhed wlthm 14 dajl:

Page 096

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G[berl + Toi)0,

(1) a person becom= or admb In wri#ng hai It K 18 deolaced to be, or 13 deemedunder any applicable law to be, bleo errt or unable to pay 118 debis; or

(g) ally Writ of,xlcuth, garr*hee order, mareva **Jnc on or shlar order,attachment distress or other process Is made, levied or hsued against or Inredalon to any asset of a perion.

Insoh,ancy Provision meors Iny law relating to hisdvency, sequestrallort, kluldooon orbankruptcy (h,cluding any law relaUng to the avoidance of oonveyances In fraud ofcreditors or of preferences, and 0ny law under which a liquidator or trustee In bankrup,cymay sallsly or avoid Iransections), 0nd any provblon of any agreeme,1, arrangement orscheme, formal or Wormal, relsting lo the admhlstration of any of the assato of anyp€non.

Interest Rate means #le 10•*w of:

(1) the aggregele of:

B) the average bid rate dIspls,ed at or aboul 10.30am Canberra Unle onthe Iht day of the relevant period on the Reuters screen BBSY pagefor a tem equh,alent to the releVENTt period, or on the appropriate pageof such other Information service whk# publishes that rate from thneto l*neil place of Reuters; and

(B) 296: and

(ID the Reserve Bank of Austrana'§ IncHcator lending rate for smal buslness;variable: residential secured and term mies,

provided M the hteceit rate must not be 1838 than zero.

Loan has the meantig glven to 11 in c lause 2.1(I).

Loan Conversion Deed meens thedeed of that name entered Into bythepartles andsubsldle# of the Borrower and as Bmended and restated on or sound the date of 0*agreement

Mahirity Data has 11» meanag given to It In daine 3.1.

Misrepre#antation has Ihe meaning ONen to It In dause 51(b).

Outstanding Amolmt meanl:

(a) the aggiegate of be ex sting debt Iden0fled h clause 2.2 and all other *Indeadvanced under thts agnement pkis any accrued Interesti lese

(b) any cash prepayments recelved by the Lender pursuarrt to clause 3.2.

Redemption Event means:

(a) a hkeov, bid under Chapter 6 of the Corpora#ons Ad having been made lilrespect of the Borro#er and:

(1) liavhg recelved acceptancel for not less th=160.1% of the Borrowersor nery shares on i*sul: and

(N) havhg been dedand unconditional by the bidder; or

pag,12

Page 097


(b) a 00101 9/1,11'"2 orders appruvil: a compromise or arra ement for the PL Posesof or h connection with a scheme of EM,angeme,* for the =iuls#lon of theBorower, reconiliuction of the Bo,7091 or b am*amation with any othercomp my or compenl. i

(c) eny change of Conid (as defk-ied h section SOAA of the Corporn:*ts Act) hrespect of the Borrow,r; or

(d) more th,150% of the bowd of the Borrower as at the dste of hs Deed changesolher than where such changee ere voh<ntary rgiirements or diangesrecommended by the boerd of Uie Borro,#e (as the cage maybe).

Redemption Noeice hes the meaning given to It in clause 4.1.

Secullty Int*re*t Im the meening given lo H In Ihe Personal Auperly Sect,irles kf2009 (Clh).

1.2 Interpret,tion

In this agreement, heedings and bold type se for convenlence only and cio not affed #18Interpretation of thli agreement and, UnleSs the context othenvbe requkes:

(a) words Importing the @Ingular Include the plurll and vice verna;

(b) a reference tomything Oncluding, but not Imited to, wiy right) hcludes a pstofthet thing but nothing In this clmise Impiles thst performance of pit of an obll{P31]oncon,#lut= performan= of the obligation;

(c) a reference lea clause or parly . a reference to a clause Of and a pally to, th&;agreement

(d) a reference to a monetify value 1/ In Iho guningy of the Commor alth ofAustralia;

(e) a reference to a document Includes al amenc nerms or supplements to, orreplacementE or novations of, that document End

(f) a reference to a party to any document Inckides that p/kis Burrnnane andpermiled as.4,18.

1.3 Loen Conver,lon Deed

To the extent of any .. ·---6- behvgen the terms of thts agreement and Ole LoanConve,Bion Dead, the terms of the Lom Conversion Deed prevail.

2 Loan2,1 Loan Facility

(a) Subjed to this Eveement, the Borrov= may request a cash advance from theLender (Loin) by notice tothe Lender, spedf,Ing:

(1) the datB on which the loan should be advanced:

(11) the=nount to be advanced; and

Page 098

Gm,ert + Toili ..13


Gm),1,1 + Tobin

([1) tile =count h which the money la to be paid into,

(a DI'lwdown Notice).

(b) The Lander vi mice avalable the Loan to the Borrower on the tems spedlied Inthe Drmvdown Notice

(c) The aggregate principal amold of all Loarm made in acoordance with clause2.1(a) must not exceed $36,450,000 (nal hiabdbg interest).

12 ExKting Debt

The perties acknowledge and agne thst as at the EffectM, Date, $28,328,683.41 16 owedby Ihe Borrower to the Lender.

13 Purpos.

For amounts not already drawn down and spent the Borrower must enstre thal It ®nd Itssubeldi,JI,6 U 118® the Loan for the pispose of,

(a) tile Oquid capital requkerrimh bnposed under clause 3.3 of the dead betweenCashto Canberra Lbillted, the Australian Capital Territory and the ACT GambmgInd Racing Commission ox,alted on 23 December 2014: and

(b) for orly surpkisamount, Its general =por* old.01-1, capital purposes.

14 Effective Dat•

Thbi agreement is deemed to be efTective on 31 May 2018 (EfTectlve Date)

3 Term, repayment, prepayment and Interest

11 Maturity Date

Notwifutanding ary ing else Al 11*, agreement, the Borrower musl, on 26 August 2024(t!le Maturity Date) repay the Outstandhlg Amount In full In cash 06 th, Lender directs

3.2 Prepayment of Loan

The Bo ower may, ¥Alhout penaNy, Prepay tothe Lender an orany pit d theOuht=ldlig Amount in cash at any thne up lo lhe dall that Is 5 Business Days before IheMa fty Date

3.3 Conversion by Lender

Subled to the terms of the Loan Conver,lon Deed, If the Lender exerolses IM right toconversion under the Loan Conversion Deed h rmped of some or all of the OutitandingAmount at any tkne and 5%38,18 h Aqu|8 Errbertahmit Lbritted ace Asued on exercis) ofsuch right in accordance with the Lamn Conversion Deed, then, In respect of the amount80 corwerted, the Ingn wl be deemed to be rormld End no Airlher repayments wil berequired of the Borru,%,r under th Ig agreement

3.4 Interest

The Borrov./ agrees to pay Interest on any Outslancing Amount at the Intereet Rate.Interest

pegi 14

4

Page 099


GRbarl 1 Tol)In

(a) accrues monthly from (and In*dIN) the f*st dey of a calender month to (andexolu*ig) the last day or the c®lender month or, if emiler, the date of repey,112nt orprepayment of 00 or pirt of the Outstanding Amount

(b) Is peyable on repayment or prepeyment of all or part of the Oulst,nding Amountand

(c) 8 calculated on act»] days elapsed using 4 yaar of 365 day*.

4 Redemption

4.1 Redemption Notice

At any Unie folowN a Redemption Event and pdor to the Lender exercisInga right tocoriver,lon Loider the Loan ConverBIon Deed, the Lender Is erilled, st Its sole ele{lion, tode[Wer to the Borrof,2 8 nouce eledtng to redeem al of the Outstanding Amount(Redemption Notice).

4.2 Repaymwit

Upon rece*t of a Redempllon Notice In accordance with dause 4.1, the Borrof,er shall,no later thEN, 5 Bushiess Days after receipt of the Redemption Notice delver to IheLender, In oleared funds, the =nold of the Outstanding Amount,

4.3 Swelsfuction of Borrower's obligations

The psyment In arrnrdance *1 dause 4.2 oper*tes In sat*fud#on of the Bon™,gisobllgadon to 119 Lender h respect of the Outstandhg Amount so redeemed.

5 Default and termination

5.1 Events of Default

Each of the events Get out In et» cieu= 5.1 lian Event of Deraull. v,hether or not thecise Is beyond the con*·01 of the Boriower, any member of the Borrower Group oranyother per.Orl:

(a) (falture to pay) the Borroflo does not pay any amount peyable by il at or beforethe due time on the due da and In the manner splmed In thb meement

(b) (untrue wmrranty) any repre.entation, warranty or st,tement made, repeated or-#en to have been made or reoeated h Vmmeft or h any doct ent of anynature, bet,mn the Lender and 98 Boriuvver Is u ue, 418(ccuate or misleadnginchidlrl by sty omission, In my material respeci when made or mpeated orkikento be made or repeated, 88 the 0880 may be (a MIsreprise,its,tion) and ifthe druumstances causN k tg be unhE, Inaccliate ormisleadtig are capable ofrtinedy withlri 5 Bustrwum Days, It has not beer, reme€Sed wl n 5 81381#888 Daysof the occurrence of the M.. :i -.. 5:- - :

(c) (Event of Insolvency) an Event of Insolvenoy ocoln h relation to a member ofthe Borrower Group:

(d) (undert; ring) the Borrower breaches, or fans to comply with any undertek# orobligation made under this agreement or any olher agreement between the parties

P•0015

Page i

It


Gnbert 4 Tolim

(i)

0)

End, If that fallin Is capable of remedy withh 6 Buslness Days, R contfrluesurmnedled for 5 Business Days sflar the falure to comply,

(e) (vitlation of agreemwit) any of the fdowlng occurn or Is alleged by be Borrowerto have crn,red:

(D al or a provision of th 13 89/eemeirt or Nly agreement between the Lenderand the Borrower k9 terri inated orlsor beoomes void, avoided, Ilegal,Invalid, : -· · : : % ' : or Inlted In Its effect or

(11) It becomes bnposs*)18 or unlswful for the Bori™,r to a mataitalobligation under t!* Veerne t or E y Weement betv en the parties; or

(f) (Gorrtrol) a Redemplon Event ocoure;

(g) (material adve,le change) ther, 18 a ma ,rk, a verle change In:

(1) the busliess, operations, aegatt financhl condl on, resub doperaBorm orIiciuldlty of the BorroA,r ora member of the Bo,1134%,r Group; or

(1) the ablity of the Borrower to perform Itu obl orte under this Eueemer©

(h) (cross dofault) the Ben™*' 18 hi default under anyolher arringemerrt forlheprovision of fln cl accommodation and such defalt has cor*tued unremecledfor 10 Bustness Days, whelher or not the diault has been walvgd, except to theexterrt h any k-=tance that them,htence oreforceabRRy of the relevantarrangement b, to the galbiaction d the Lender, being disputed h good faith bythe Borrof,er by appropriale and current proceedbpi

(ceeses to carry on) the Borro*,r or a materlal subsidiary of the Bo ver,sasaes to cany on (or tlyeatens to suspend or £8888 to caly on) 1£13 bus#98;

(Iltiggtion) lit ation, dhtion or proccedlruse commenced v,hlch heve ama§arl adverse sffeol on the Borroweri or

(k) (Security Interest) a Seculty 111*rest Is enforced or eriforceable EKlahst anymaterkil asset d the Bo,TaiN. or one d Its subsldlides.

6.2 Lender's Righti on Event of D,kult

If any Event of Default occurs ther, dihg the period It sub81815 the Lender may take allyone or more of he foBow:Ig mfilons by nol cm h %,TR g k) the #mmi

(a) decktre thal an Event of Default has omirrect

(b) redeem the Loan In vvhlch case the Outstanding Amount wm becorne Immediatelydue and pa,*bio to Ihe Lender:

(c) declare that all irnounts due INIder this agreement.nd any prior agreementsbetween the Borrower and the Lender gre Immediately due and payable and In,vhlch case the Bon<Iwer must hnmediatsly pay to the Lender a|| announts due oradig under thoe® agreements.

0.,16

Page 101

0


0,4 4 1 obin

6 Notices

8.1 Comm mlgations In writing

Communlcaton to be made under or In connection wilh Ihis agi,iement must be mide inwr*Ig and, unless otherwise stated, may be made by letter or by electronic trarmmismon.

Inithd address and numbers

The kiltkil acldress, emal address and person (lf arly) so deeignaled by each p,ty, ere asBet out 111 thb Wreement or as nollfied h wrILIng by a party.

Notice details:

Lender

Borromi,r

Address:

Atlentlon:

Ernal:

Address:

Anention:

Ernag:

21 Binara Shet, C=lberra ACT 2601

Jusdn Fung

justine@quilertertalnmentoom

21 Blnara Street Canberra ACT 2601

Jesskn Mellor

jessica@eqlhenter mer,Loom

7 General7,1 Vmlation

A Varhation of any term of this agreement must be In writing and signed by the partles.

7.2 A=Ignment by Lender

(a) The Lender may transfer, asolgn or novale all or any of Its iightB and/or obll,ionslinder this Agreemerrt to any pernon or comb#Ation of peraons (SubstituteLender) k

(1) an Eved of Default is subsistlng: or

(1) the Substnute Lender Is a related body corporate d the Lendl.

(b) If the Lender exercises is right under p vaph (ax') above and the relevid eventof defallt ca„ws to subeist, the Lender mugl proan that any rights and/orobligatione under this AQT®ement that MEre #s=ferred, assigned or novated to theSubstitute L®nder *, tansferrnd, asslgied or novaled back to the Lender.

(c) If the Lender e=cises 15 right under par¥aph (a)(1) above and the Su WhiteLenderceases to bea related body corporate of the Lender, the Lender mustproare that any rights and/or o"ganorM; under thle Agreement thet Were

P//17

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'6


tran,fe,i#, ass ned or novated to the Subsllute Lender are transferred, assignedor novated either to the Lender or to a related body corporate of the Lander.

7.3 Sev*rability

(0) An kgal, void or unerIforceable prov lon of this agreement under the laws of anyjur ction wil be ben#ve h that Jurisdiction to the extent of being megal, void orunenforceable.

(b) A provision biblg Ineffecti1 ki a Jurbdldlon does not Invatdate the remainingprovisions of this a,niment or sffect thal provision In E,ty other )*diction.

7.4 Governing law and Jurisdiction

(a) Thl, a/eement 18 governed by the lia of the Australl=1 CapliEl TerrMory,Auitriaa.

(b) Each party brevocably submits to the non-excilalve).trladcnon of the courts of theAustralian Caplt,J Teriltory, AL=tralla.

7.5 Entire agreement

Th agreement supersedes 0,1, prior understanding or agrgement between the Borrowerand the Lender end constitules the enth'e goreemer* benican them In relation to tilesubjeot matter of this EUeement

7.6 Assignment

Nellher psty may ass Ign or transfer any of Its rights or obl4 stions under this agreemantwilhoullhe prior vvrmen consent of the other p,ty.

7.7 Counterparts

This agreement may be exearted In any number of oounterparts. and th 13 he@ the sameeffect as if the **latlns on the colmterpails were on a shgle copy of this agreement

GSberl + Tobin PeD/18


Execution page

Execul= an reement

LENDER

Signed for Aqula Canberra Hol¢Unss (Ams)Pty Ltd ACN 167 934 992 bls¥yx,knoev/!th section 127 of the C Ixra#ons Act 2001(Cth) and .

Slormilse of *ector

WING CHEUNG T

Nsne of dh *or (prblt)

BORROWER

Sigrl*ve of dbvelor/lecretory

ONYFUNG JESSICA MELLOR

Name of , :·3· '::· :1:, (print)

Signed for A*[ls Entertainment UmltedACN 147414 881 In acoordEN oe v th section127 of #te *'*IVY*1#Pl (Cth) and by.

JESSICA MELLOR

Name d dhotor (pr )

GARRY GILL

Mine of 6180*Ic/secretsy (print)

Page 104

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Schedule 3 Loan Conversion Deed

346741*7701vl 0./.IS

Dec 21 2010 16:54:33 AED! Hi,r,imrE 11 is¤n -> Fax Scruer Hi,[tcr Ellison Page 106

GILBERT+TOBIN

Amended and Restated LoanConversion Deed

Aquis - ' -: . : . L.knhed (ACN 147 411 881)AquIB Canberra Holdhlgs (Aus) Pty Ltd (ACN lEa 934 992)

Execution Version

SYDNEY MELDOURNEIPERTH


DefINions ariel Irllerpretation

Conversion

Reoor»trucllon

Covenant; by the Company

hktkil

Contents1

2

3

4

5

6 Gen al

E]caol on page

Page

1

3

5

6

7

8

10

Page 107

GAMbhN


Dete: 4 kkiVGME£2-Parties

1

2

BackgroundA

2016

Aquis En realnment Linklted (ACN 147 411 881) of 21 Bhara Street, Canberra,ACT 2801 (Company)Aquls Canberra Holdings (Alis) Pt,Ud(ACN 167 934 992) 120 Spence Street,Cains, Queenniand 4870 (the Lender)

The Lender, Company and Gertah olher p=les entered Into a corn*slon dead(Orlginil Convi,Ilon Dged)

B The parties hereby wilend and restate the terms of the Original Conve¢BIOn DAA,1asset od h 119 agreement

n»parM,ls .glim

1 Definitions and interpretation

1.1 Dgfinltionl

In thb Deed, urtless the 004*ext othenvise requires:

assodite has the Ime meankp = In 6 of 11,0 Corporation, Aol

ASX means ASX Umbd (ACN 008 624 691) or the flianciel morket operated by It, asthe contax! regubs.

ASX Udng Rules mearm the omcial Ilot,tg r es of ASX,

Board means the board of Drectors of the Comparly.

Business Day meens a day thal il not a Saturday, Simday or public holiday h ellherCanberra. ACT or Hong Kong.

Company Group mean; the Company and each Subsidiary d the Company.

Company Group M•nbor means a member of the Company Group.

Control 1¥*3 tile meer*Ig gNen In Motion 50AA of the Corporations AcL

Conversion Notice means a Lender Coriverslon Notice, aa dolkled Incieus® 2,1.

Convenlon Price mearm $0.20.

Corporitions Act means the Comore#ons Act 2001 (Cth).

Deed m=18 the deed between the Parties constltrted by this doot;merit.

D Irectoror DIrectors means a director of the Compmy for the time being or anyone ormore of them who 1*38 or have authority to act for the Company.

Page i

0*014 Yalrt Peoll


Gthe,1, fol#

Duty means *ny stamp, transaction or registradon duty orsimi/ch=ge knpoled byanyGovernment Auttority and Inoludes arly Ir,tueet, Mne, penalty, 01=ge or other amountinpoeed in respect of any of merri.

Government Authollty means a government or government dop,Iment, agovemmenlal or sern#oveminental or judclal per=1 (whether autonomous or not)changed v,Ith the administration of any applicable Imv.

unediately Available Funds moons cash, bank cliequo or Wegraphic or otherelectunlo meen, of An,fer of dend finds blto a bank account

issul Dato means the date 5 Busliess Days foliowiv issue of e Corversion Notice(except where *11@reholder approv,J 13 requhd as contemptsted by d==1 2.4 ki v,!fohcase the Issuo Date Is the date 2 Business Days Sm the relevant sh=eholders'meeIN).

Loan mear* Ihe loan made under Ihe Loen Agreement

Loan Agreament meer, the Intscompany Loan Agreement bebveen the Lender EN-ld theCompeny for a principle amount of $A36,450,000 daled on or about the date d thisOecd

Low meem any 1064 claim, action, damage, Ilablmy, cost expenoe, penally,compensslion, line or outgoing suffered, plid or incurred.

Maturity Date means 25 August 2024.

Out®tanding Amotmt hes the moon*,g given to it in Ihe Loan Ag,ement,

Party meens a psly to lhls Deed.

Shme means a fully peld ordinery shere in the capit,1 of the Comp,ty rsnklr part passuwith the edsting Issued ordinmy share capital of the Compeny.

Shareholder meMs a holder of Shwed.

Shareholders Meeting has the megr*ng set out h clmme 2.4(a).

Subsidiary has the mearing E#Ven se(*lon 9 of the Corporations Act

Tax means a bx, levy, charge, Impost, fee, deduction, compulaory loan or wNhholdbgany nstlre, which £9 assessed, levied, Imposed or odeoled by a Government ALithority,except where the corrtef requkes otherwlse. Thb Inohiles, but Isnot blted to, anyInterest, fine, penalty, charge, fee or other amount hiposed h addRIon to those amounts.

voting power has the same meaning as In the Corporations Aol

1.2 Interpret=Hon

In this Dead:

(a) headings are for convenience only and do not affect Its Interpretation; and

unle*§ the con'nothenvise requires:

(b) an obll,1 n or liability assumed by, or a right cor[ ed on, 2 or more Partiesbinds or benefits aH d uieri job*ly end each d thern severally:

Pigill

Page 109


Gme,1 + lobm

(c) the expression pe,Bon Inchldes an Individual, the estate of en Indl,Idual, acorporation, an allhorty, an assoclailon or joint v*Iture (whether hlcorporated oru '™d,,.. t. 4), a par lerihip and a trust

(d) a reference to any party Includes thai party's executors. admhl,trators. successors=,d permitted asgigns, hickidhig any person taking by way of novauon;

(e) a derence to any document Oncludhg thls Deed) 18 to Ilint document as varied,novated, ratified or replaced from 119 to thle;

(f) a reference to any statute or to any statutory provision Indudel sny Statutorymoclficatlon or re.ermotment of It or any stalutory provision substikiled for 11, and alior*tances, brlaws, regulations, rules and stabtory Instruments (howeverdesaibed) Issued under It

(g) words port* the BNLiar Incklde Me pknl (and vice versa) and wordsbdicating a gender hdude every other gender

(h) reference to palles, dauses, schedldas, exhibas or annexures are references toparties, dauses, sahedules, =Nblls and annexures to or of this Deed and areference to tlds Deed hcludes any schech,te, =hlbil or enne*ure to this Deed;

(1) where a wird or phrase Is given a dekied maanAng, any other pert of speech orgammatid form dthal Mord or plinse has a colesponding meaning:

0) a reference to time b to Canberra time;

(k) where an aothn 18 rehdred to be Lndartaken on a day that is not a Bushles® Day Itshal be ls:dertaken on the nart Business Day;

(1) areference lo a payment 18 to a payment by bank cheque or such olhor formofdeend Aulds the recipient 0018,wise alows In Ute relevant lawful airrencyspedned free d all withholdings and ded<*110<18. end

(m) a mference 10 $ or dollar 18 to the lawful currency of Ihe Common% alth ofAustra|la.

1.3 Loan Agreement and Inconsistency

To the ext** of any inconsiltency belwlen the terms oft!118 deed and the LoanWeement the terms of thi@ deed prevail

2 Conversion

11 Conver,lon Notice from the Lender

Subjed to clause 2.3 and 2.4, the lender ks entitled, at B sole election, to convert apropollon d the Ou&*anding Amount Into ShareG by deivering to the Company a wittennolke (Lender Coriversion Notice) at any Unle before the Meturlly Date

21 Conver,lon Notlce cannot be withdrawn

A Conversion Notice. once delivered In acco,·dance with dause 2.1 carulot be wthdrawnwithout the wltlen consent of the re*lert

p.0.13

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2.3 Lender Conversion Notice -Cap on ts*ul of Sharl*

The Compeny wm not be obOged to 1*sue Sheree on corrverelon of Rie Loan to the extadthal Ihe issue of such Sharee on comersion of the Loan wll:

(a) cause Ihe voling power af the Lender or my msochate of Ihe Lender to exceed89.6996: or

(b) res*t kn the number of St)eres bekng i,sued to **c®®d 250,000,000.

14 Shareholder Approvals

(a) Sublect to clause 23, f the 16*ue of my Sh,es on corrverelon d the Loan dllcause e breach of Ihe CorporaUons Act or the ASX Llethg Rules or any other Imby any perion (Muding any entity) v,Hhout appro,al by the Sliafeholdera of theCompany, the Company must convene a mesum of Shareholdern for the pl,pOSesof obtining the requialle shareholder approvals (Shareholden Me,Ring). TheComperly must *t its own coet prepare and despatch to Shaceholders a notice ofmeetkig and explanctory memorandum On¢Ilxing =1 Independent expert's report)(Meeting Documantation) and all such other materials and actions v.hloh may berequired under leva of regutotione or olhery,188 by reler,wit mithoritlee for thepurposm of the Shmeholdis Meeting.

(b) The Stweholders Meeang must be convened and held on or before the dste 2months aller the date the Compeny receives the Conversion Notice.

(c) The Company muoi make avalable lo the Lender drafts of the Meetingat leall 5 Bushless Days before the Meet g Doclmler*BROn IS

provided to ASX end ASIC and allow the Lender masonable oppoltinny to mviewand comment on Ihe Meeting Documentation.

(d) The Meeling Documenletion must comply v,ith el appicable Im,s and ASICre latory guidance. The Compeny %vii amend any n,ctual Inacclncy, andconsider in good Wh any other commenta notmed to It bythe Lender, fonow/9review of the Meeting Documentalon by the Lender and must as soon aspracticable finallse end deepatch the Meethg Doalmentation to Shareholders.

(e) The Meelk Doamler lon shall not be provided or despatohed to ASX, ASIC orShareholders wMhout prior writ!en a of the Lender. The Lender shall notimrs=ortably WIU,hold Its Consel* and shall provide 118 comments orapprovalv,Ith0 5 Bualness Days of bek·g provided tile Meeting Docurnentation.

25 Con.equences of not obt Ining Approvals

(a) Notwiths ndim any provision to the convary lA thts dead (lf y), in the event thatthe Company fals to obtan the Sharehold, approvah by the dale opecified hdause 2.4(b), the Ckrtstandklg Amourit becomes Immediately repelble at theearlier t.

(1) the date specmed In clause 2.4(b): and

(I) Ole date of the Slweholders Meeting at which the rele¥EN* resolutions Ennot approved by Shareholders.

16 sue of Shar=

Subject to clause 2.3 and 2,4, the Company shal on the Issue Date:

Page 111

RAM, Tobe 00.14

d


(a) lasue thet number of Sh*res equi*l to the Citskmding Amoirt dMded by thiConversion Price;

(b) apply for quotation or, ASX of 011 Shares Issued purnuant to dause 2.6(a);

(c) to the =tent It Is permmed to do 80, give to ASX a noike pursuant to section708*5Xe)(i) d the CorporaOons Act In resped of the Shares hsued plnuant bodause 2.6(a), or, If (he Company 18 unable to bsue Buch a noUce, lodge with ASICa prospect ls prepered In accordince v,Ith the Corporatons Aol and do 011 luch Ings necessary to §06*fy Bec«on 708A(11) of the Corporations Acl to ens ne thatan offer for gle of the Shm*s does not reqih dlectomre to Investors

(d) enterthe name of the Lender In the shareholderB register In respect of Ihe Sharesto be issued pli·*u®nt to dauve 2.6(a); and

(e) procure thal a hol ng statement forthe Shares bsued pursuant to dawle 2.6(a) 18sent to the LandeT frel of charge.

2.7 Fractional en tlements

Fractional enallements to Shares under clause 2.6(a) will be rounded up to the nearestwhole number.

2.8 8**faction of Company's obligations

The Issue of Sharee In accord-,ce v Ith dalme 2.6(a) opentes h satiafaction of theCompany's oblgation bo Ute Lender In respect of the OulaidN Amount 60 corrverled.

3 Reconstruction

(a) In the event of a reconehic"on or reorgants*n of the copitel of the Company byway of con,Ollddon, subdivision, red,ofb# relurrl scheme of an*vement orotherwise (but other than by way of a bonus Issue, rights l,Sue or other seculyissue), a proportionabe ad*ls#nt wl be made to Ihe number and Issue price OfShares to v,hiGh the Lender Is entltled upon conver*lon of the Outstanding Amount00 that

(1) the value d the right to convelt the OutsIN,ding Arnold Into Shares 18 notadversely affeated by the reconstruction:

(11) the Lenclw 18 riot conferred with =ly addltiortal beneflts which am not alloInferred on the holden of Shaces and the Shsaholders wl not rece?ve abenent het the Lender does not recetve (subled to Ole same provIDION withr=pect to rounding of InltlementE as 88 10110ned by the meeting of holdenof Shares approving the . -' of OR*tal): and

(m) subject to clause *1 h al othar respects the terms for the converalon ofIlle Outstanding Amount shal remaki unolienged.

(b) The adjusbments b be made pursuant to dause *e) must be h accordance v, ththe ASX Lidlig Rules (and In partlcubr ASX Ustir Rul= 7.21 and 7.22) andthlsDeed must be * led to the extent necessary to comply,vith the AS)< LIsthm Allies(and In p=lkxJIE, ASX Listing Rtdes 7.21 End 7.22) applyhg to a rBorganIsallon ofcapital at the Wne of the reor,nbalion.

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4 Covenants by the Company

41 Represeiitstions and warTWit B

The Compaly represents, vsrantl to and covenants with the Lender on 11• behoff, mdan behalf of eeoh Compely Group Member, thai eaoh of the follo#,Ing wairantlee 18 Aleand aca.Irate as at the date of this Dead and at al #nes unt] the date the Ovt,lardngAmount has been rEdeemed, repaid or converted in accordance,vith INB Deed:

(a) (Incorporation) each Company Group Member is properly registered andAlcorporated as a corporation End valdly exhrts under the bus of IB jurlsdiction of

(b) (capacity)the Company a[its on lt»own behalf h entering into this Deed and notas histee or on another person's behalf:

(c) (legally binding obligation) t]*3 Dead cor stltutes Ita vild and |Ao[Ally bind oblle:*,n In accordance with Its terms End subjeot to any necE*i=y stampir© 18erdorcsable against It h acoordence wth Rs tims;

(d) (execution, dellvery and performance) the execution, and perfomlE„Ceof this Deed by the Company does not violate any Statute or law, or any documentor agreement b v,Noh either 13 a party or whloh 18 blricIPU on n or any of the*asM.i

(e) (m,Ulor[,stion) al consents, Icences, Bprovals and - 4*-=Ri to beobtained by R In connection v,Ith the executon, deINary and performance of thisDeed have been obtabled and En vild and subSISting.

(0 (power Ind mrthority) eaoh Company Group Member ims the power, right andnocessary corporabe au#ority to own h asseta, cary on Its ctment andcontemplated business, and the Company has the pova, right and neceessycorporsm authority to enter hto, and exer*e Rs r!#ts §,Id 01)Gerve and perform 18obligglions wider, this Deed Id to carry out the transacllons contemplated by th*Deed;

(g) (corporate action) the Company has each taken al necessary csporole aclon toenter into End this Deed;

01) (no conflict) the exeoution aid ance of thk; Deed by the Comperly:

0) does not and %¥01 not cordoct wilh or contavene =ly other IEAv or a *,dper*,rl.Blg, order, document oragreement,pplying to It Or |18 88=18 or kscommuent documenk and

(0) wil not olher th,n as disclosed h wriang to the Lender prior to the date ofthia Deed, r Ill hn a default, =,Ii,lerst n d date of payment oancellE*lonevent, prepayment eve,l or imlar Er,erit (110*evEr described) und, anyagreement relating to any Company Group Member's debtor monetaryHablities;

0) (solvency) each CompEN-ly Group Member ts godver,t and there arena reasonablegounds to suspect thst It Is mable to pay Ils debts as and wh< they become dueand payable;

0) (Ildng) the Company shall ma taln the listhg of Its Sher®$ on the ASX; and

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--


Geart , 106#1

(k) (Complianoe with laws) eaoh Company Group Member * In comphance Mh allappocable laws Iriclildbg the Corporations Ac: and %vith 108ped to the Comparly, 18* oompl nce vAth the ASX U,ting Rulei (incluang, without Ilml tion, thecontinuous cisclosure provisions), and 1@ not withholding my hiformadon frompuble dMosure h re[lalce on ASX U,Ung Rule 3.1 A that has not been disclosedto the Lender h vgling prior to the date of this Deed.

4.2 Relianceandsurvival

The Company ad<nofiledges that

(a) the Lender has entered No thks Deed In reliance on the : · : - 3. I , : andvarranoes In Condition 4.1: and

(b) those repre,enlations and w,rarilles wrvive Oxecullon and del ery of this Deedand the provision of finmcIN accommod*Uon under th®m.

43 Independent

Each representaton and warranty must be construed Independently and not limited byref,ence to anothv,

5 Notices5.1 Requirements

Each notice muthorised or requid to be given to a Party shall be In legible writing and InEngish addressed to the Party'§ addrem set out clause 6.2 (or such other **888nominated in accordance with dause 5.3) In the maiiner contemplated by clause 5.4.

5-2 hiUal contact detail

The littlel contact detalb of the Parties shal be as folo,n:

p.,ity' ' '1, !'1 2,41.t::.Comparty 21 Blnn Street Canberra lessicE*acrumenter ment,com

ACT 2601

Lender

5.3 Chinge of Addrels

21 Bh=a Street, Canberra lus:Ir®Kill : : ; . 5. ' , . LcomACT 2601

ERch P=ty may from Nne to ne cts e 118 address bygMng nollce pursuant thisO|EUSe to the 00-)er Parties.

6.4 Receipt

Any notice given pursuant to dause 5.1 wl be condusively de®med to have beenreceived:

/0*17

Page 114


(a) In the case of personal del very, on theaotual day of de[ ary f delivered p¢lor to5.00pm on a Bu*less Day or on the next folowing Bu ess Day If defivered after5.00pm on a Business Day oron a day other than a Busliess Day;

(b) If sent bymal, on the second Business Day after thedayof posting: Or

(0) If =It by emal, ontheday theemal was sent by cles transmission If sent prior to5.00pm on a Bus ess Day or on #e ne:d folo,Rig Business Day 11 8* 1 afler5.00pm on a Buelness Day oron a day other than a Business Dayand providedthe sender does not nceive sri error report or falure emel.

6 General

8.1 Further assurwce

P=*1 P=ty shal sign, execirte and do all deeds, aots. documents and thhlge 88 mayreasonably be requked by the oU,er P,ty to effecovely ¢my out and glve effed to lietarms and Inhitions of thls Dead.

62 Sole unde,Btanding

Other than the Lawl Agreement thb! DBed sha[1 constitute the sole understsnding of theP,ties with reapect lo the suNect matter and replaces 011 other reementi with respect*lereto.

Severance

If any provision or p=t ora provision of thls Deed is held or found to be void, Invalid orolhenvIse una,Vorc ble *1 accordance wilh liB terms (whe,ther In resped of a pENOollbcparty or genecally), 11 will be deemed to be severed to the extent thal It 18 void or to theext* d voldablity, hvaidity or unenforceabilty, but the remabider of thst provblon wilremeln In fil force and effect and ail other provIBions Which are self-sustabling andcapable of separate enforcement wllhout regd to the Irn,aad provision ghal be andcor,Unue to be valid and forceful In accordance v,Ith thetr terms.

6.4 Variation

No modmc860,1 or elterauon of the terms of this Deed shaO be blnding unless made inwriting and duly exectted by the PENtles.

6.6 Coets and duty

(a) Al Duly assessed on or In resped of Lhts Dead shall be paid by the Compeny,

(b) Each Party shi bear thet ovm legd costs of and Inc*lental to the preparatio)nego tion and exeouton of this Deed.

6.6 Governing Lav

This Dead shall be governed by and construed in accordance with the Igw from tkne toUme *1 the Australian Capital Territory and Ihe Parties agr= to submit to the non-exclus ve Jur dicOon of the courts of the Aus lan Capllal Territory and the courts Uttlchheer appeals therefrom.

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67 Counterparts

ThIB Dead may bee=outed In my number of countarpsts (Including by way of facsimle)eaoh of v,hlch ahal be deemed for al pt,pOSes to bean original and all suchcounterp,lB taken together shall bed=ned to oonstittrte one and the SEme Instrlment

/0/,/1 1 101:rn ple'll

9


Execu on page

Executed as a deed.

Signed 0nd delNered by Aqu8Eneare=lament Limled ACN 147 411 881in accordence with section 127 of the

Stgrmt+1of dreator V

JESSICA MELLORName of dlre(*or (print)

GARRY GILLName of .T..,--: '.:. :*: ( rint)

Signed and delhred by Aquls CanberraHoldings (Aus) Pty Ltd ACN 167 934 992in accordence with seclion 127 of theCo,porationa Acl 2001 (Cth) and by:

Slgrmh.re of mdp SIgnaliE# d director/secretary

WING CHEUNG T NY FUNG JESSICA MELLORName d dhector (prif) Nine of dkector/secretary (pint)

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Schedule 8 Loan Termination Deed

1 8*400;4 0,1


Deed of Release and Termination

Date: December 2018

Parties1

2

Aquh Entgrtmlnment L.Imitid ACN 147 411 881 of 21 Birm Street CmberrmACT 2801 (Compmny)Blue Whale Errtirt=Inmerrt Pty LW ACN 627 759 139 or Level 22, 126 PhilpS#est Sy(*ley NSW 2000 (Blue Mil)

BackgroundA ACH, the Compsly and Blus Wh,JI have er,tered Irto the Loan TrEnsfer DBed

plnuant to which ACH has ageed to b¥nkr ind amt,1 to Bkle Whale Iti entlm*t, tlt» 8,id Intereet In and to the Loan Apements to Btl»Whale, md totr fw 1 =sign U,8 Cor,vert le Lwn to Bkle Whale

8 Al#r#» Lown Tran,rer Deed takes effect the P,lies Mve agreed to bTlplsner,tee,[Ul St** plnlint to v,Nch gl mor»,8 due under lie Convertl]18 1 BArt wl beforglven, 911nguished or otheA¥ise zatified h fuR.

C Folowing thB hplemention of 01, st,ps descrn,ed above, each of the Comp=rywid Blue Male agree to lermirite the Loan Aveemert, Ind rgive wide*Igulsh thi Convetrtle Loan lii Ill on me terms mci Condions Set ollt h WI

Th. pld..0 .....

1 Defined terms and interpretationA term or amra**vt stnlg Mth a cmpa,Ilatter:

(a) whidl Is defiled bi the Digoonary in Sohe(*118 1 (Dictionary), Nas the metning.ven bo Ith the DICBend,y;

(b) whid, i defbied In thi Colporaoons Agt but Is not defined bl the Dic8014, hmmthe meaning *M te it In the Corpor,Uori AX

(c) whic:h h dethied In the GST Lav. blt Is not delined in the Dic ersy or theCorporations Act, has the mear*,g given to It In the GST 10#: and

(d) al cmpi##med t Ins uad In 0115 deed v*kll are delned in the Innplemerit ionDeed have themes-*,g gben to 0/1 h the Implementslon Deed, l.nleSS thecof*god re(Ries otherwise

2 Conditions Precedent and termina«on

11 Concntlons Procident

Al rights and oblgations uncierth dood ari 'ubjeotto, and do not come kto effectulti

Page 119

sm,m-1,00 ¥1 //0/11


(a) the Con(11!lorts Pmcadent am w*ed or 82!18§,ct

(b) al Steps h dilse 7.4(b) of the bplerrter,tinal Dood have been compistect Sid

(c) C Triplen has occlrred.

2.2 Tormination

Th18 deed W[ll latinhita W th, Share PirchARA A*•eameli li tBrmir#ed In *Mord,=with clause 7 ofthat agreement

3 Termination and release3.1 Terminglion and oldinguishment of Convart Loan

Sub bo ci,n# 2.1 but not**/namg any prov18ion hthe Logn AgnM/pwag theparties agree, th elmd on and #cm Completion:

(a) to minate the LDen /411"/73/1,<

(b) that no pily to th died h= any conthilg righta, obi#loris or [abilles Lndarthe L=1 AFeemerds ( r=pooth of when Buch rights, ob|gutions or labltiesarose or accrued); and

(G) the Converm,le Loan ks =tiwlitted wid ;orglven h fun end, for the avoidance ofAN*•. Ulov'#U conver,10,1 of the Ce,iverl**• loan, no flsther arnoci,ts =apayable Inder the Convsroble Loan.

3.2 Rel-e

(s) Vlth e ect ortld fromtheColnpldon, each party Incon#loc,gly and Imvocablyrels-8.:

0 each otherparty;

(1) 88£0 clhe= per¥B Related Bodies Corpor* and

M thi *=01,8 and omcers of the per,008 referred to in paragemplm &2(a)(1)and 1*.)®,

from d Clalme, wherever and home, ari,lru lglown or unkno#,1 aimblg otiof orin com,adion #th the Loan Agreemer** mid with- uny right to br#g my motionwider or In respect d the logn Agreements. For the malance or doubt, 9,16rele does not extend to the knplemerlaaort Deed or 81•re PuohageAgninw/l

(b) 11* doid mgy be pleaded by a party I a bar to proceed,lgs corimmoed Inrespect to Iny such released matied

4 Representations and warranties

Each Party repre•er*, Nld warran¢B to each other P=ty thgt

(a) (.Lr#Wity) It has ls: power =Id lithority to enter Into ald perfomn M' O/4//02)nsunde, thlm dood;

Page AM

34349&"mvl P•Bel /

Dec 21 2010 16:58: 19 AED! Hi,rbm•Elli=¤n -> Fax Scruer Hi,[tcr Ellison Page 121

(b) ( ti., - 7/, ,) It lies taken al neces=y W on to 0110101198 0-le glgr*Ig, delve,yand periormance of th de'd ht 8 *dar¤, %%(th ks •rma; and

(c) (bincing obtlgations) this deed consillutas b lag,1 vid and blnc g obligabonGand Is enforceable h accord,noe with Its terms

5 GeneralClazises 14 18-21 and Part 2 of Schealle 1 of the Implemelitallon Deed apply as if setout h ful ln 0 18 agreeme<

3137**11=,1 P.pli


Schedule 1 Dictionary

in U. deKI;

ACH means Acills Calberra HolcEI 0,li) Pty Ltd ACN 187 934 991

Completion fuss the maining glverl b It In the Share Plre:me AEP,qrlort

Conami P™iedent mean the concmlons precadle to Compl,lion ed out In dause3.1 of the Slzre Pzsct,use Agrgerner,t

Cor,Yarible 1-nnn rn=,0 the 10an made by ACH to the Comperly uider 8,8Wercomparly Loan 4eemilt to be 888*ed from ACH to Blue Whmle h •coordar,Gewith the L=1 TranBfer Deed.

Implementition Deed rr„in' the l :'- · 1 -, deed betivean ACH, the Comperly andBlue Whale, en*red Into on or around *,e ck,ts of thle deed.

Intorcompany Loarl Aureemorit mi,le the Intercomparty Lo=i NFearrlent betv,Ien treACH (allende,) Nid the Comp,ly (as d ,1 on 4 Ncivember 2018, to beassigned from ACH to Blue Whale In accordance With the Loarl Tiwill,r Deed.

Loan Agreiments meam Ihe Intere=npmy Loen Agreement and the Loan ComersionDeed.

Loan Converolort Died means the Amended and Restuted Loan ConverBIon Deedw,hween the Compmy end ACM rimis! 4 Novernber 2018, plnumt 10 v*Iici ACH Ingyconvert the 041»tancing Amol,1 hbo ComparTy Sh,08, to be assigied from ACH to EmiWI,gle h accordance Vth the Loan Trar=fer 08,d

Loan Transfer Deed mems the Logn Trangler Deed bet,men ACH, the Company andBlue Whala, entered Into on or around the dde of thls deed.

Otrtetanding Amourrt mear= tfu, grno t <glg by the Company t, ACH LE,der thiCor,6,rtlble Loan from time to thie.

Puty means a Fty b Ui, dood.

Shire Pluchms@ Agreement means 11,8 813#e pschaze agreemirlt be{Agen. theCompany ACH and Blue Wh•le, ank* Mo on or Eloind the dil of this dead

Page U'

$4$7-81*1100,1 /"14


Fxacution pageExnculnd. a bed

819)ad, •aded and d*IM W A „b C,IWI<YaHolangs {Aus) Pty Lid by Iti aUorrley l,Werpoiwor#rney dnid 12 Dece,nbu 2014 whohal no no008 of rmo[*lon of t!10 po#grofEllomay l ths

f,A

Gigi*0840¥t -

NiiN Ofwllness <Pa4

0110,1.Y J

P*na ofa mey Unrl)

Page G


SIVI'd, 8-dand de*¥50 by AquhErit,irt-„Int LImt•]d h accorel,213 -h880* 127 of the Ck,por 18 Ad 2001 (Cth)

81".A'd'NIM

Ba.1,• 0*eclor (P*4 Name of,- -:*-*sal, f (prM

Page 124

86*=»412TI


Glgr•d, Inlad grid deNvend by Blue WhaleEntertminrne,It Pty Ltd h accer,1291* WlhIscdor,127 4 the Acl 2001 (Cullby:

51'Fan of *ector

464<4 44N ne of director (prt,M

Sv*,1 of dlreCtoll GeFet --

Name of *ec eer-y (Mlit)

Page AS

"0*NOWNI


Signed, Ialed wid dell,ered by Mwgiong GuIn the presence 01,

s,91*Seo,4,1888 Signakre or Minghong Gu

Dcu ,d 667Name of Mltnees (p, ,0

D-40»47400


Attachment A Timetable

1 Execl,80,1 Of Iniplamer¢*lon Deed. ShEn Plat# se Agrierner# arielLoen Transfer Deed

2 Contact ACT Geillig End Reguidnry Au lority

3 . ' of Proposed Trar=@GOOn

4 Company to provide hn Noti of Meeting to Blue Wh*

S Blue Wh.le to pruvide comments on dift Notice of Mismg

6 AMA/ Notioe of Mee g

7 Provlde Notice of Meelhlg 10 ASIC *r review

8 ASK) review d Nolice of Mo*,g

9 Sl*frIR 0000(aaort for gmthig reminte soprovals

10 rwip.,Q No! of MIGOng to Smholders

11 Shareholders Meethg

12 Receipt of gir*41 and regdatory approvah

13 Compigoon

20 December 2018(alter market close)

21 December 2018

21 December 2018(preman.topm*Ig)7 January 2019

21 Janumry 2010

22 January 2019

A Jmiuary 2019

22 January 2019 1016 F/bruary 2019

By 15 F-ualy

No litor than 21F,bury 2019

Watola. March2019By 15 may 2019

By 18 May 2019

The purles ¥41 ule th* reasonable ende,vourB to adiere to the thnet,Ws, The Paroee 801010¥,ledgethat the abwe t netibio has been prepared er, Hie bili of the paroes' best estinata of the tknIW ofkey wants for the Proposed Tiuadon. and that certabll e„enti Ingy be delayed for reasons olitudeof the=lrol of the peive* p=Uct,h,ly the ps,lod mqlired In salisry the Cm*lo Rogulatoly Conition.

Page 127

434-700147lm,1

1