Galilee Energy And Vintage Enter Into Scheme Implementation Deed

Galilee Energy Ltd GLL:

• GALILEE AND VINTAGE ENTER INTO SCHEME IMPLEMENTATION DEED

• CO'S SHAREHOLDERS WILL RECEIVE 2 FULLY PAID ORDINARY SHARES IN VINTAGE FOR EVERY 1 FULLY PAID ORDINARY SHARE IN CO

• UPON IMPLEMENTATION OF SCHEME, EXISTING VINTAGE AND CO SHAREHOLDERS WILL HOLD 60% AND 40% OF MERGED GROUP RESPECTIVELY

• BOARD RECOMMENDS ALL GALILEE SHAREHOLDERS VOTE IN FAVOUR OF SCHEME