MITCHELL SERVICES LIMITED — Capital/Financing Update 2017

Sep 14, 2017

15 September 2017

The Manager ASX Limited Exchange Centre 20 Bridge Street Sydney NSW 2000

Via electronic lodgement

Dear Sir/Madam

Notice under section 708AA(2)(f) of the Corporations Act 2001 (Cth)

This notice is given by Mitchell Services Limited (ACN 149 206 333) (ASC Code: MSV) ( MSV ) under section 708AA(2)(f) of the Corporations Act 2001 (Cth) (the Corporations Act ) as modified by the Australian Securities and Investments Commission Corporations (Non-Traditional Rights Issues) Instrument 2016/84 ( CI 2016/84 ).

MSV has announced a pro rata non-renounceable entitlements offer ( Offer ) of 1 fully paid ordinary share in MSV ( New Shares ) for every 8 MSV fully paid ordinary shares held as at 7:00pm (Brisbane time) on 20 September 2017 by eligible shareholders at an issue price of A$0.034 per New Share. The Offer will be made to shareholders with a registered address in Australia and New Zealand ( Eligible Shareholders ).

An Information Booklet in relation to the Offer with personalised entitlement and acceptance forms is expected to be despatched to Eligible Shareholders on or around 25 September 2017. MSV confirms that:

• 1 the New Shares will be offered for issue without disclosure under Part 6D.2 of the Corporations Act; 2 this notice is being given under section 708AA(2)(f) of the Corporations Act as modified by CI 2016/84;

• 3 as at the date of this notice, MSV has complied with:

  • (a) the provisions of Chapter 2M of the Corporations Act as they apply to MSV; and

  • (b) section 674 of the Corporations Act;

• 4 as at the date of this notice, there is no "excluded information" of the type referred to in sections 708AA(8) or 708AA(9) of the Corporations Act that is required to be set out in this notice under section 708AA(7)(d) of the Corporations Act; and

• 5 the potential effect the issue of New Shares will have on the control of MSV and the consequences of that effect will depend on a number of factors, including investor demand and existing shareholdings. However, given:

  • (a) the structure of the Offer as a fully underwritten pro-rata issue; and

  • (b) the current level of holdings of substantial holders (based on substantial holding notices that have been given to MSV and lodged with ASX on or prior to the date of this notice),

the issue of New Shares under the Offer is not expected to have any material effect or consequence on the control of MSV. The impact of the Offer, announced to the market, on substantial holders is set out in the Offer announcement and accompanying materials.

Yours sincerely

Greg Switala Company Secretary Mitchell Services Limited

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