COG FINANCIAL SERVICES LIMITED — Net Asset Value 2012

Dec 16, 2012

Armidale Investment Corporation Limited

ABN: 58 100 854 788 Level 11, 139 Macquarie Street Sydney NSW 2000 Tel: 02 8014 1188 Fax: 02 8084 9918

ASX Company Announcements

17 December 2012

The Manager Australian Securities Exchange 20 Bridge Street Sydney NSW 2000

Net Tangible Asset Value as at 30 November 2012 on a

Consolidated and Company Basis - UPDATE

Armidale Investment Corporation Limited (AIK) announced on 13 December 2012 its 30 November 2012 Net Tangible Asset Value.

The announcement noted on Page 2 the current balance of its Deferred Tax Liability position at 30 November 2012. The Company advises that this should have read as follows:

• Deferred Tax Asset

On a consolidated basis, the group holds the following deferred tax assets and liabilities as at 30 November 2012.

Deferred Tax Asset $1,960,330 Deferred Tax Liabilities – current $3,674,724 Deferred Tax Liabilities – non current $2,701,960 Deferred Tax Liabilities - total $6,376,684

After seeking appropriate accounting advice, and as AIK does not own 100% of HDS, from 30 November 2012 the Consolidated Group NTA has been calculated on the basis of:

• (i) Removing the Deferred Tax Asset from the total asset position of the consolidated group; and

• (ii) Continuing to include the Deferred Tax Liability in the total liability position of the consolidated group.

It is noted that the above amendment does not change the Net Tangible Asset Values advised in the release dated 13 December 2012.

For further information please contact:

Andrew Grant David Franks Executive Director Company Secretary 0415 166 090 02 9299 9690