AnaeCo : 2017 AGM - Notice of Meeting and Proxy Form

ANAECO LIMITED ABN 36 087 244 228 NOTICE OF ANNUAL GENERAL MEETING AND PROXY FORM

This Notice of Annual General Meeting is an important document and requires your immediate attention. Please read it carefully. If you are in doubt as to what you should do, please consult your investment or other professional adviser.

For an Annual General Meeting to be held on Thursday 30 November 2017 at 10:00am (WST) at 3 Turner Avenue, Bentley, Western Australia ANAECO LIMITED ABN 36 087 244 228 NOTICE OF ANNUAL GENERAL MEETING

Notice is given that the Annual General Meeting of shareholders of AnaeCo Limited (Company) will be held at 3 Turner Avenue, Bentley, Western Australia at 10:00am (WST) on 30 November 2017.

The Directors have determined pursuant to Regulation 7.11.37 of the Corporations Regulations 2001 (Cth) that the persons eligible to vote at the Annual General Meeting are those who are registered shareholders of the Company at 8.00pm Sydney time on 28 November 2017.

The Explanatory Statement which accompanies and forms part of this Notice describes the matters to be considered at the Meeting.

AGENDA

1. Reports and Accounts

   To receive and consider the financial statements of the Company for the year ended 30 June 2017, together with the related Directors' Declaration, the Directors' Report and Auditor's Report.

2. Resolution 1 - Adoption of Remuneration Report

   To consider and, if thought fit, to pass, with or without amendment, the following resolution as a non-binding resolution:

   "That, for the purpose of section 250R(2) of the Corporations Act and for all other purposes, approval is given for the adoption of the Remuneration Report as contained in the Company's annual financial report for the financial year ended 30 June 2017."

   Note: the vote on this Resolution is advisory only and does not bind the Directors or the Company. Voting Prohibition Statement:

   A vote on this Resolution must not be cast (in any capacity) by or on behalf of either of the following persons:

3. a member of the Key Management Personnel, details of whose remuneration are included in the Remuneration Report; or

4. a Closely Related Party of such a member.

   However, a person (the voter) described above may cast a vote on this Resolution as a proxy if the vote is not cast on behalf of a person described above and either:

5. the voter is appointed as a proxy by writing that specifies the way the proxy is to vote on this Resolution; or

6. the voter is the Chair and the appointment of the Chair as proxy:

7. does not specify the way the proxy is to vote on this Resolution; and

8. expressly authorises the Chair to exercise the proxy even though this Resolution is connected directly or indirectly with the remuneration of a member of the Key Management Personnel.

9. Resolution 2 - Re-election of Director - Gianmario Alessio (Les) Capelli

To consider and, if thought fit, to pass, with or without amendment, the following resolution as an ordinary resolution:

"That, for the purpose of clause 11.3 of the Constitution and for all other purposes, Gianmario Alessio (Les) Capelli, a Director, retires by rotation, and being eligible, is re-elected as a Director."

Annual Report

The Board has reviewed the considerable time and cost (including environmental cost) involved in producing a "glossy" annual report and has decided that the Company will not produce such a document this year.

The Annual Financial Report, which consists of the Directors' Report, Directors' Declaration, Auditor's Report, Financial Statements and Notes thereto and includes all additional information which is required by the Australian Securities Exchange to be disclosed to shareholders, will be made available to all shareholders in the same way it has been available in previous years.

DATED THIS 30 OCTOBER 2017 BY ORDER OF THE BOARD TIM HINTON COMPANY SECRETARY

VOTING IN PERSON

To vote in person, attend the Annual General Meeting at the time, date and place set out above.

VOTING BY PROXY

To vote by proxy, please complete and sign the enclosed Proxy Form and return by the time and in accordance with the instructions set out on the Proxy Form.

In accordance with section 249L of the Corporations Act, members are advised that:

• each member has a right to appoint a proxy;

• the proxy need not be a member of the Company; and

• a member who is entitled to cast 2 or more votes may appoint 2 proxies and may specify the proportion or number of votes each proxy is appointed to exercise. If the member appoints 2 proxies and the appointment does not specify the proportion or number of the member's votes, then in accordance with section 249X(3) of the Corporations Act, each proxy may exercise one-half of the votes.

Sections 250BB and 250BC of the Corporations Act apply to voting by proxy. Shareholders and their proxies should be aware of the affect of these sections as they will apply to this Meeting, which is broadly as follows:

• if proxy holders vote, they must cast all directed proxies as directed; and

• any directed proxies which are not voted will automatically default to the Chair, who must vote the proxies as directed.

  Further detail on these sections is set out below.

  Proxy vote if appointment specifies way to vote

  Section 250BB(1) of the Corporations Act provides that an appointment of a proxy may specify the way the proxy is to vote on a particular resolution and, if it does:

• the proxy need not vote on a show of hands, but if the proxy does so, the proxy must vote that way (i.e. as directed); and

• if the proxy has 2 or more appointments that specify different ways to vote on the resolution - the proxy must not vote on a show of hands; and

• if the proxy is the chair of the meeting at which the resolution is voted on - the proxy must vote on a poll, and must vote that way (i.e. as directed); and

• if the proxy is not the chair - the proxy need not vote on the poll, but if the proxy does so, the proxy must vote that way (i.e. as directed).

  Transfer of non-chair proxy to chair in certain circumstances

  Section 250BC of the Corporations Act provides that, if:

• an appointment of a proxy specifies the way the proxy is to vote on a particular resolution at a meeting of the Company's members; and