AUSQUEST LIMITED — Capital/Financing Update 2015

Mar 19, 2015

ABN 35 091 542 451

20 March 2015

Australian Securities Exchange Level 40, Central Park 152-158 St Georges Terrace Perth WA 6000

8 Kearns Crescent, Ardross WA 6153 Telephone: 08 9364 3866 Facsimile: 08 9364 4892 Email: graeme@ausquest.com.au Web: www.ausquest.com.au

Dear Sir/ Madam

Information disclosed under ASX Listing Rules 3.10.5A and 7.1a.4(b)

Further to the ASX announcement on 11 March 2015 and Appendix 3B lodged by the Company on 19 March 2015 regarding the completion of a Placement of up to $2.0 million, AusQuest provides the following information under Listing Rule 3.10.5A:

• a) A total of 72,375,000 ordinary shares were issued under Tranche 1 of the Placement. A total of 29,749,483 ordinary shares were issued pursuant to Listing Rule 7.1A (representing 8.00% of the post-placement capital) and 42,625,517 ordinary shares were issued pursuant to Listing Rule 7.1 (representing 11.46% of the post placement capital).

The percentage of the post-placement capital held (in aggregate) relating to shares issued under Listing Rule 7.1A is as follows:

• Pre-placement security holders who did not participate in the placement – 90.38% of post placement capital.

• Pre-placement security holders who did participate in the placement – 3.90% of post placement capital.

• Participants in the placement who were not previously security holders – 5.72% of post placement capital.

• b) AusQuest considered the placement as the most efficient and expedient method for raising the funds required to achieve its stated objectives given the funding certainty. The Company notes that it has also announced a Securities Purchase Plan (“SPP”) which forms a material component of the overall fundraising strategy and entitles all eligible shareholders to participate in the fundraising on the same terms as the Placement.

• c) The Placement was not underwritten.

• d) Brokerage fees of $33,914 (excluding GST) are payable in relation to the ordinary shares issued under Listing Rule 7.1A.

Yours sincerely

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Henko Vos Company Secretary