CIVMEC LIMITED — Share Issue/Capital Change 2021

Sep 30, 2021

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Announcement Summary

Entity name

CIVMEC LIMITED

Date of this announcement

Friday October 01, 2021

The +securities the subject of this notification are:

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+Other securities issued under an +employee incentive scheme that are not intended to be quoted on ASX

Total number of +securities to be issued/transferred

		Total number of
ASX +security		+securities to be
code	Security description	issued/transferred	Issue date
CVLAD	PERFORMANCE RIGHTS	1,439,000	01/10/2021

Refer to next page for full details of the announcement

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Part 1 - Entity and announcement details

1.1 Name of entity

CIVMEC LIMITED

We (the entity named above) give notice of the issue, conversion or payment up of the following unquoted +securities.

1.2 Registered number type

ARBN

Registration number

604316690

1.3 ASX issuer code

CVL

1.4 The announcement is

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New announcement

1.5 Date of this announcement

1/10/2021

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Part 2 - Issue details

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2.1 The +securities the subject of this notification are:

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+Other securities issued under an +employee incentive scheme that are not intended to be quoted on ASX

2.2a This notification is given in relation to an issue of +securities in a class which is not quoted on ASX and which:

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has an existing ASX security code ("existing class")

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Part 3B - number and type of +securities the subject of this notification (existing class) where issue has not previously been notified to ASX in an Appendix 3B

ASX +security code and description

CVLAD : PERFORMANCE RIGHTS

Date the +securities the subject of this notification were issued

1/10/2021

Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class Yes

Were any of the +securities issued to +key management personnel (KMP) or an +associate? Yes

Provide details of the KMP or +associates being issued +securities.

Name of KMP	Name of registered holder	Number of +securities
Rodney Bowes	Rodney Bowes	167,000
Adam Goldsmith	Adam Goldsmith	167,000
Daniel Kennedy	Daniel Kennedy	167,000
Mylon Manusiu	Mylon Manusiu	167,000
David Power	David Power	167,000
Charles Sweeney	Charles Sweeney	167,000
Other Management	Various	437,000

Please provide a URL link for a document lodged with ASX detailing the terms of the +employee incentive scheme or a summary of the terms

Refer to the Schedule (¿Summary of the Civmec PRP¿) of the Company¿s 2018 Notice of Annual General Meeting released to ASX on 3 October 2018:

https://www.asx.com.au/asxpdf/20181003/pdf/43yyffnhwqp7lr.pdf

Any other information the entity wishes to provide about the +securities the subject of this notification

Performance rights issued under the Company¿s Performance Rights Plan (PRP) for the performance period 1 July 2021 to 30 June 2024

The aggregate number of Performance Rights which shall vest in favour of the employee, will be based on the achievement of certain predetermined performance targets (which are based on absolute earnings per share (¿aEPS¿)) as determined by the Remuneration Committee in accordance with the Civmec PRP. The vesting schedule is as follows

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Number of Performance Rights to be vested, calculated as a percentage of the number of Performance Rights for each performance period

50% if the aEPS achieved is equal to 90% of the three-year average annual result

On a pro rata basis between 50% and 100% if the aEPS achieved is more than 90% but not more than 110% of the three-year average annual result

100% if the aEPS achieved is more than 110% of three-year average annual result

Issue details

Number of +securities

1,439,000

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Part 4 - +Securities on issue

Following the issue, conversion or payment up of the +securities the subject of this application, the +securities of the entity will comprise:

(A discrepancy in these figures compared to your own may be due to a matter of timing if there is more than one application for quotation/issuance currently with ASX for processing.)

4.1 Quoted +Securities (Total number of each +class of +securities quoted)

	Total number of
ASX +security code and description	+securities on issue
CVL : CHESS DEPOSITARY INTERESTS 1:1	237,440,076
4.2 Unquoted +Securities (Total number of each +class of +securities issued but not quoted on ASX)
	Total number of
ASX +security code and description	+securities on issue
CVLAB : COMMON SHARES	264,994,924
CVLAC : TREASURY SHARES	15,000
CVLAA : OPTION EXPIRING 11-SEP-2023 EX 65C	4,000,000
CVLAD : PERFORMANCE RIGHTS	9,897,000

4.2 Unquoted +Securities (Total number of each +class of +securities issued but not quoted on ASX)

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Part 5 - Other Listing Rule requirements

5.1 Were the +securities issued under an exception in Listing Rule 7.2 and therefore the issue did not need any security holder approval under Listing Rule 7.1? Yes

5.1a Select the number of the applicable exception in Listing Rule 7.2

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