AUSQUEST LIMITED — Capital/Financing Update 2013

Dec 1, 2013

2 December 2013

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Australian Securities Exchange Level 8 Exchange Plaza 2 The Esplanade Perth WA 6000

LAPSE AND ISSUE OF INCENTIVE OPTIONS

The Board of AusQuest (ASX: AQD) advises that the following unlisted staff and consultant incentive options have expired, unexercised:

• 500,000 options exercisable at 30 cents each on or before 30 November 2013

• 2,250,000 options exercisable at 40 cents each on or before 30 November 2013

• 1,350,000 options exercisable at 20 cents each on or before 1 December 2013

• 1,150,000 options exercisable at 40 cents each on or before 1 December 2013

As part of the Company’s policy of providing continuing equity incentives for staff and consultants, the Board would also like to advise that 7,000,000 new options exercisable at 7 cents each on or before 30 November 2015 have been issued under the Company’s Employment Option Incentive Scheme.

Darren Crawte Company Secretary