IMDEX LIMITED — Capital/Financing Update 2013

Dec 3, 2013

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8 Pitino Court, Osborne Park Western Australia 6017

PO Box 1262, Osborne Park Western Australia 6916

Tel: +61 (0) 8 9445 4020 Fax: +61 (0) 8 9445 4042 imdex@imdexlimited.com www.imdexlimited.com ABN 78 008 947 813

4 December 2013

Company Announcements Office ASX Limited Exchange Centre 20 Bridge Street SYDNEY NSW 2001

Dear Sir/Madam

Employee Performance Rights Plan

The offer to Imdex Limited's staff to participate in the Performance Rights for FY14 pursuant to the Employee Performance Rights Plan (EPRP) has recently closed. The offer for 5.1 million Performance Rights was accepted by the Company's staff. These are identified as “Performance Rights 12” in the table below and exclude Performance Rights issued to Mr Ridgeway, Managing Director of Imdex approved by shareholders at the 2013 Annual General Meeting (shown as “Performance Rights 13” in the table below).

The EPRP offer entitles Imdex staff members, for no consideration, to one fully paid ordinary share for every Performance Right offered. The Performance Rights are exercisable only if performance hurdles are achieved and vesting conditions are met.

If the performance hurdles are met, the vesting conditions allow one third of the Performance Rights granted to be exercised annually on each successive anniversary of the hurdles being met.

Details of Performance Rights offered to Imdex staff are explained further in the Explanatory Memorandum to the Notice of Meeting for each applicable year’s Annual General Meeting. A copy of the EPRP was released to the market on 15 October 2009 and can also be referred to for further detail.

The table below also details prior grants of Performance Rights issued to staff since the introduction of the EPRP and the status of those with remaining obligations as at 3 December 2013.

Yours faithfully

Imdex Limited

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Paul Evans

Company Secretary

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Providing innovative drilling fluids and advanced down hole instrumentation worldwide.

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Details of Performance Rights on issue at 3 December 2013 are as follows:

Class	Grant date	Expiry date	Applicable PerformanceHurdles	# of shares underperformance rights
Performance Rights 4	10 Jun 11	Aug 16	Tenure	66,667
Performance Rights 6 –Managing Director – Tranche 2	20 Oct 11	Oct 16	Tenure, EPS/TSRperformance	153,318
Performance Rights 7	5 Sep 11	Aug 15	Tenure	665,000
Performance Rights 9	7 Oct 11	Oct 14	Tenure, EBITA performanceand personal KPIs	210,213
Performance Rights 11 –Managing Director – Tranche 3	18 Oct 12	Oct 17	Tenure, EPS/TSRperformance	264,818
Performance Rights 12	4 Oct 13	Oct 16	Tenure, EBITA performanceand personal KPIs	5,124,070
Performance Rights 13 –Managing Director – Tranche 4	17 Oct 13	Sept 16	Tenure, EPS/TSRperformance	300,000
Performance Rights 14	18 Nov 13	Nov 16	Tenure	100,000
Total				6,884,086

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Providing innovative drilling fluids and advanced down hole instrumentation worldwide.