MITCHELL SERVICES LIMITED — Capital/Financing Update 2021

Aug 15, 2021

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16 August 2021

The Manager Market Announcements Office ASX Limited 20 Bridge Street Sydney NSW 2000

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) ( Mitchell Services ) (ASX Code: MSV) under section 708AA(2)(f) of the Corporations Act 2001 (Cth) (the Act ) as modified by Australian Securities and Investments Commission ( ASIC ) Corporations (Non-Traditional Rights Issues) Instrument 2016/84 and ASIC Corporations (Disregarding Technical Relief) Instrument 2016/73.

Mitchell Services has today announced a pro rata accelerated non-renounceable entitlement offer (the Entitlement Offer ) of 1 new fully paid ordinary share in Mitchell Services ( New Shares ) for every 8 fully paid ordinary shares in Mitchell Services held as at 7pm (AEST) on Wednesday, 18 August 2021 by shareholders with a registered address in Australia, New Zealand and certain other jurisdictions in which Mitchell Services decides to extend the Entitlement Offer.

Mitchell Services confirms the following:

• (a) The New Shares will be offered for issue without disclosure to investors under Part 6D.2 of the Act.

• (b) This notice is being given under section 708AA(2)(f) of the Act.

• (c) As at the date of this notice, Mitchell Services has complied with:

  • (i) the provisions of Chapter 2M of the Act as they apply to Mitchell Services; and

  • (ii) section 674 of the Act.

• (d) As at the date of this notice, there is no 'excluded information' of the type referred to in sections 708AA(8) and 708AA(9) of the Act that is required to be set out in this notice under section 708AA(7) of the Act.

• (e) The potential effect that the issue of the New Shares will have on the control of Mitchell Services, and the consequences of that effect, will depend on a number of factors, including investor demand and existing shareholdings. However, given:

  • (i) the structure of the Entitlement Offer as a pro rata issue; and

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

Mitchell Services does not expect that the Entitlement Offer will have a material effect on the control of Mitchell Services and, as such, does not expect any material consequences to flow from that.

Yours faithfully

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Greg Switala

CFO and Company Secretary Mitchell Services Limited