EXCELSIOR CAPITAL LTD — Capital/Financing Update 2012

Mar 7, 2012

CMI Limited ABN 98 050 542 553 150 Robinson Road Geebung Qld 4034 Australia Postal address: PO Box 716 Virginia Qld 4014 Australia Telephone: (07) 3865 9865 Facsimile: (07) 3865 3677 Email: corporate@cmilimited.com.au Web: www.cmilimited.com.au

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8 March 2012

Australian Stock Exchange Limited Level 6, Riverside Centre 123 Eagle Street BRISBANE QLD 4000

Shareholders Meeting for Buy-back of Class A shares at 95 cents

CMI has entered into a deed with Trojan Equity Limited, the largest CMI Class A shareholder, where subject to certain conditions, CMI will call and hold meetings of CMI shareholders to consider a proposal for a selective reduction of capital (a buy-back of Class A shares) at a price of 95 cents per share.

The Company has expressed its view previously that it considered the current two class share structure to be inappropriate for CMI and at shareholder meetings in November 2009 the Company proposed a buy-back of the Class A shares but did not gain the required 75% support.

Under the settlement deed, CMI and Trojan will apply to adjourn the legal proceedings to 1 July 2012. Upon completion of a successful buy back, Trojan has agreed to release and discharge CMI from all and any claims, actions, suits or demands and the proceedings will be dismissed. In addition, the Company will pay, upon the successful completion of the buyback transaction, a sum of $130,000 towards Trojan’s costs in the proceedings.

In addition, Trojan must do all things reasonably within its power to support CMI in obtaining shareholder approval for the buy-back.

CMI will engage an independent expert to report on the proposed buyback price, prepare the documentation and arrange for the meetings of shareholders to be held. CMI will advise the market of those arrangements.

Yours sincerely

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Sharyn Williams Company Secretary CMI Limited