AJ LUCAS GROUP LIMITED — M&A Activity 2018

Oct 2, 2018

3 October 2018

MITCHELL SERVICES LIMITED (ASX: MSV)

Mitchell Services Limited Statement

With regards to a statement made today by AJ Lucas Group Limited (AJ Lucas), regarding an incomplete proposal to acquire AJ Lucas’ drilling division, Mitchell Services Limited (the Company) notes the following:

The incomplete proposal referred to in today’s AJ Lucas statement was made via a non-binding indicative proposal letter sent to AJ Lucas on 6 August 2018. The proposal was submitted by the Company on the basis that AJ Lucas would agree to engage with the Company on an exclusive basis for an initial period. No such exclusivity was granted, and no further progress was made.

The Company will always continue to asses potential acquisition opportunities that align with the Company’s strategy and will only pursue a transaction where it will increase shareholder value.

For more information, contact: Andrew Elf – Chief Executive Officer Telephone +61 7 3722 7222 or 0413 608 018