EXCELSIOR CAPITAL LTD — Capital/Financing Update 2015

Nov 24, 2015

Notification of reorganisation of capital - return of capital (cash)

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Notification of reorganisation of capital - return of capital (cash)

Update Summary

Entity name CMI LIMITED.

Applicable security for the return of capital

CMI - ORDINARY FULLY PAID

Announcement Type

Update to previous announcement Date of this announcement Wednesday November 25, 2015 Reason for the Update

Shareholder approval was granted for the Capital return at the Annual General Meeting on 25 November 2015

Refer to below for full details of the announcement

Announcement Details

Part 1 - Entity and announcement details

1.1 Name of +Entity CMI LIMITED.

Registration Number

1.2 Registered Number Type

ACN 050542553

1.3 ASX issuer code

CMI

1.4 The announcement is

Update/amendment to previous announcement

1.4a Reason for update to a previous announcement

Shareholder approval was granted for the Capital return at the Annual General Meeting on 25 November 2015

1.4b Date of previous announcement(s) to this update

Friday October 23, 2015

1.5 Date of this announcement

Wednesday November 25, 2015

1.6 ASX +Security Code

CMI

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Notification of reorganisation of capital - return of capital (cash)

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ASX +Security Description

ORDINARY FULLY PAID

Part 2 - Return of capital type and approvals

2.1 Are any of the below approvals required for the return of capital before business day 0 of the timetable?

• Security holder approval Court approval

• Lodgement of court order with +ASIC ACCC approval

• FIRB approval

Another approval/condition external to the entity required to be given/met before business day 0 of the timetable for the return of capital.

Yes

2.1a Approvals

**Approval/Condition Date for determination Is the date estimated Approval +Security holder Wednesday or actual? received/condition approval November 25, 2015 Actual met? Yes

Comments

2.2 Is the return of capital a selective reduction of capital

No

Part 3 - Return of capital timetable and details

3.1 +Record date

Tuesday December 8, 2015

3.2 Does the +entity have quoted options on issue?

No

3.2a Last day for trading in pre-return of capital quoted options

3.3 Effective date. Trading in the re-organised +securities on an "ex return of capital" basis commences. If the +entity has quoted options, trading in the quoted options commences on a +deferred settlement basis. If the +entity's +securities are suspended from trading during this period there will be no +deferred settlement trading however ASX still captures this date. Friday December 4, 2015

3.4 +Record Date

Tuesday December 8, 2015

3.4a If the +entity has quoted options, first day for the +entity to send notice to each +security holder, register +securities on a post-return of capital basis and send holding statements.

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Notification of reorganisation of capital - return of capital (cash)

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*3.5 Issue Date (Payment date). If the +entity has quoted options, +deferred settlement market in options ends. Last day for +entity to send notices to +security holders for quoted options they hold. Last day for +entity to register quoted options on a post-reorganised basis Tuesday December 22, 2015

3.5a If the +entity has quoted options, trading in the options starts on a normal T+3 basis

3.5b If the +entity has quoted options, first settlement of trades conducted on a +deferred settlement basis and on a normal T+3 basis

3.6 Currency in which the return of capital is made ("primary currency")

AUD - Australian Dollar

3.7 Return of capital amount per +security AUD 0.30000000

Part 4 - Other +entity-issued +securities affected by the return of capital

• 4.1 Will the return of capital affect the exercise price of any +entity-issued options? No

Part 5 - Further information

5.1 Has the +entity applied for an ATO class ruling in relation to the return of capital? Yes

5.1a Please provide further information on the ATO ruling

The Company applied for a Class Ruling from the Australian Taxation Office confirming that no part of the proposed Capital Return will be treated as a dividend for tax purposes. A draft ruling has been received from the ATO in relation to the proposed capital return to shareholders. The draft ruling indicates a formal ruling will be provided in due course to confirm that no portion of the capital return will be classed as a dividend.

5.2 Source of funds for return of capital

Existing cash reserves

5.3 Further information relating to this return of capital

5.4 Additional information for inclusion in the Announcement Summary

Notification of reorganisation of capital - return of capital (cash)

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