ASX RELEASE

Letter to Dart Energy (DTE) Shareholders

19 November 2013

New Hope Corporation Limited (ASX: NHC) advises that the attached letter has been distributed to the shareholders of Dart Energy Limited (DTE).

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For further information, please contact:

Investors/Analysts

Robert Millner Chairman, New Hope Corporation Limited +61 7 9232 7166

Robert Neale Managing Director, New Hope Corporation Limited +61 7 3418 0500

Media

Lisa Backhouse Manager - Corporate Affairs +61 7 3418 0522 media@newhopegroup.com.au



15 November 2013
The Shareholders
Dart Energy Limited
Dear Fellow Shareholder,

NEW HOPE CORPORATION LIMITED

ABN: 38 010 653 844

Recently you would have received a letter from Mr Nicholas Davies, the current Chairman of Dart Energy Limited (Dart Energy), in response to our proposal to reinvigorate Dart Energy's board. That letter contains a number of serious errors and misstatements.

New Hope is NOT seizing control of your Board

Each of Mr Rob Neale (New Hope's current MD), Mr Stephen Lonie, Mr Peter Forbes and Mr Cam Rathie has an outstanding record in his field. Each also has extensive public company board level and senior management experience. Their biographies are included as an appendix. Mr Lonie, Mr Forbes and Mr Rathie are independent of New Hope. Mr Davies' suggestion that a board comprised of these individuals would be controlled by New Hope is absolute nonsense and made without any proper basis.
Mr Davies protests that none of you should be given this opportunity to consider changes to the Dart Energy board at this year's AGM because New Hope 'currently owns only 16.2%' of Dart Energy. This demonstrates his apparent lack of respect for the rights of all shareholders to seek board change as a response to legitimate concerns about the company's performance. Change in the Dart Energy board's composition will only occur if it is supported by a majority of all votes cast by shareholders at the AGM. That is, the changes proposed for the board, if made, will reflect the views of the shareholders as a whole, not just those of New Hope. Mr Davies' statements disappointingly seek to disguise this fact.
Dart Energy's current chairman also criticises New Hope for not proposing alternative strategies for the company. The function of setting strategy is the responsibility of the Dart Energy board. It is not a function for New Hope. The need for change in Dart Energy arises because the current board has observably failed to deliver on strategy and has sought to avoid taking responsibility for the company's performance as a consequence.
New Hope has lost confidence in the current board of Dart Energy. All shareholders are, therefore, being given the opportunity to have their views heard at the company's AGM.

REGISTERED OFFICE CONTACT DETAILS DOCUMENT INFO

P: PO Box 47, Ipswich, QLD Australia 4305

A: 3/22 Magnolia Drive, Brookwater, QLD Australia 4300

T: +61 7 3418 0500 F: +61 7 3418 0355 W: newhopegroup.com.au

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A505746

The Need for Change

Total shareholder return over the past three years is NEGATIVE 51.8% per annum 1.

3 Year Share Price Chart Dart Energy Limited

History of Financial Performance

Over the four financial years 2010 to 2013 inclusive Dart Energy reported: