Notification of Major Interest in Shares

Investor Enquiries

Oilex Ltd

Joe Salomon

Managing Director

Email: [email protected]

Tel: +61 8 9485 3200

Australia

Nominated Adviser

Strand Hanson Limited

Nominated Adviser

Rory Murphy/Ritchie Balmer

Email: [email protected]

Tel: +44 20 7409 3494

UK

Media Enquires (UK)

Vigo Communications

Public Relations

Patrick d'Ancona/Chris McMahon

Email: [email protected]

[email protected]

Tel: +44 20 7830 9700

UK

Media Enquiries (Aus)

Citadel-MAGNUS

Public Relations

Michael Weir

Email: [email protected]

Tel: +618 6160 6900

Australia

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi

1. Identity of the issuer or the underlying issuerof existing shares to which voting rights areattached: ii

Oilex Ltd

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights

yes

An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

no

An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments

no

An event changing the breakdown of voting rights

no

Other (please specify):

no

3. Full name of person(s) subject to thenotification obligation: iii

Standard Life Investments (Holdings) Limited (Parent Company) - 4.385 % comprised of:

Standard Life Investments Limited - 3.220 %

Ignis Investment Services Limited -1.165 %

4. Full name of shareholder(s) (if different from 3.):iv

Vidacos Nominees\HSBC

5. Date of the transaction and date onwhich the threshold is crossed orreached: v

13/05/2016

6. Date on which issuer notified:

17/05/2016

7. Threshold(s) that is/are crossed orreached: vi, vii

Standard Life Investments (Holdings) Limited -5%

Standard Life Investments Limited -5%

8. Notified details:

A: Voting rights attached to shares viii, ix

Class/type ofshares

if possible usingthe ISIN CODE

Situation previousto the triggeringtransaction

Resulting situation after the triggering transaction

NumberofShares

NumberofVotingRights

Numberof shares

Number of votingrights

% of voting rights x

Direct

Direct xi

Indirect xii

Direct

Indirect

AU000000OEX8

76,760,000

76,760,000

51,760,000

0

51,760,000

0

4.385

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financialinstrument

Expirationdate xiii

Exercise/Conversion Period xiv

Number of votingrights that may beacquired if theinstrument isexercised/ converted.

% of votingrights

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi

Resulting situation after the triggering transaction

Type of financialinstrument

Exercise price

Expiration date xvii

Exercise/Conversion period xviii

Number of voting rights instrument refers to

% of voting rights xix, xx

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

51,760,000

4.385

9. Chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held, if applicable: xxi

Standard Life Investments (Holdings) Limited (Parent Company) - 4.385 % comprised of:

Standard Life Investments Limited - 3.220 %

Ignis Investment Services Limited -1.165 %

Proxy Voting:

10. Name of the proxy holder:

11. Number of voting rights proxy holder will ceaseto hold:

12. Date on which proxy holder will cease to holdvoting rights:

13. Additional information:

14. Contact name:

[email protected] Life Investments Ltd

15. Contact telephone number:

(0131) 245 6565