LYCOPODIUM LIMITED — Capital/Financing Update 2011

Apr 12, 2011

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Lycopodium Limited

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ABN 83 098 556 159

Level 5, 1 Adelaide Terrace East Perth, Western Australia 6004 Australia PO Box 6832 East Perth, Western Australia 6892 Australia T: +61 (0) 8 6210 5222 www.lycopodium.com.au

ASX RELEASE

13 April 2011

MARANDOO MINE PHASE 2 PROJECT

Lycopodium is pleased to announce the award of the engineering, procurement and construction management services for the Marandoo Mine Phase 2 Project from Rio Tinto Iron Ore.

Lycopodium will provide services in relation to the plant upgrade and associated project infrastructure. Forecast revenues from this project are $105M over a project timeline concluding in 2013.

The revenues from Marandoo Mine Phase 2 Project were previously factored into the full year guidance figures, provided on 23 February 2011. Accordingly, the Directors advise there are no changes to the full year guidance result.

Lycopodium is pleased to continue this association with Rio Tinto and wishes to extend its thanks for this opportunity.

For further information:

ROD LEONARD MANAGING DIRECTOR Lycopodium Limited

T: +61 8 6210 5222 E: limited@lycopodium.com.au