23 January 2019: Change of Director’s Interest Notice

23 January 2018

Market Announcements Office ASX Limited

Exchange Centre Sydney NSW 2000

Appendix 3Y - Jonathan Taylor

Please find the enclosed Appendix 3Y Change of Directors Interest Notice of Mr Jonathan Taylor. The notice covers a change in the registered holder of Calima Energy Limited shares in relation to the consideration received for the takeover of TMK Montney Limited.

This is not a change in Beneficial Ownership, but a change in the registration details with the same beneficial owner.

This transfer of registration process has taken a period of time to complete as the stock has been reregistered in a UK custodian as Mr. Taylor is a UK resident and it commenced outside a securities trading black out period as per the Company's Security Trading Policy.

Yours faithfully,

James Bahen

Joint Company Secretary Calima Energy Limited

Calima Energy Ltd ACN 117 227 086

1A/1 Alvan St, Subiaco Pert h WA 6008: [phone] Fax: + 61 8 6500 3275 Email:[e-mail]

Appendix 3Y

Change of Director's Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director's Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 30/09/01 Amended 01/01/11

Calima Energy Limited 17 117 227 086

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Jonathan Taylor
Date of last notice	29 August 2017

Part 1 - Change of director's relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be disclosed in this part.

Direct or indirect interest	Direct
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	Jonathan Taylor
Date of change	18 January 2019
No. of securities held prior to change	12,674,654 fully paid ordinary shares 292,398 Class A Performance Shares 1,233,550 Class B Performance Shares 3,300,000 Class A Management 3,300,000 Class B Management Options 8,250,000 New Performance Rights
Class	Fully paid ordinary
Number acquired	675,000 - Consideration in relation to takeover
Number disposed	Nil
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	675,000 - Consideration in relation to takeover

+ See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 1

Appendix 3Y

Change of Director's Interest Notice

No. of securities held after change	13,569,292 fully paid ordinary shares 292,398 Class A Performance Shares 1,233,550 Class B Performance Shares 3,300,000 Class A Management 3,300,000 Class B Management Options 8,250,000 New Performance Rights
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	Off-market transfer

Part 2 - Change of director's interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of "notifiable interest of a director" should be disclosed in this part.

Detail of contract	N/A
Nature of interest	N/A
Name of registered holder (if issued securities)	N/A
Date of change	N/A
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed	N/A
Interest acquired	N/A
Interest disposed	N/A
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation	N/A
Interest after change	N/A

Part 3 - +Closed period

Were the interests in the securities or contracts detailed above traded during a +closed period where prior written clearance was required?	No
If so, was prior written clearance provided to allow the trade to proceed during this period?	N/A

+ See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y

Change of Director's Interest Notice

If prior written clearance was provided, on what date was this provided?

N/A

+ See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 3