South East Papua Study

Cott has entered into a Joint Study Participation Agreement to make application to conduct a data gathering evaluation of the oil and gas prospectivity of an area in South East Papua. Cott has a 25% interest in the Joint Study Participation Agreement. Any expenditure under the Joint Study Participation Agreement is conditional upon the application under the Joint Study Participation Agreement being granted, such costs and expenses will be borne and paid by each of the parties in accordance with their respective participating interests.