MITCHELL SERVICES LIMITED — Regulatory Filings 2021

Mar 15, 2021

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16 March 2021

MITCHELL SERVICES LIMITED (ASX: MSV)

SMS Innovative Mining receivable update

Mitchell Services Limited ( the Company ) refers to its ASX announcements made on 12 February 2021 and 26 February 2021 in which it advised that:

• The Company's wholly owned subsidiary Mitchell Operations Pty Ltd ( MO ) had terminated a drill and blast contract with SMS Innovative Mining Pty Ltd ( SMS ) for failure by SMS to pay invoices due and owing under that contract.

• MO had served a statutory letter of demand on SMS for the full amount due and unpaid as at the date of the demand, being $6,169,702.12.

• SMS had made an application to set aside MO's statutory demand.

SMS' application to set aside MO's statutory demand has been listed by the Victorian Supreme Court for a one day hearing on 23 June 2021.

The Company will advise the market of the outcome of SMS' application to have MO's statutory demand set aside or if there are other material developments in the Company's efforts to recover the debt owed to MO by SMS.

This announcement has been authorised by the Company's Board of Directors.

For more information, contact: Andrew Elf – Chief Executive Officer Telephone +61 7 3722 7222 or 0413 608 018

Important information

This announcement contains certain ‘forward‐looking statements’ within the meaning of the securities laws of applicable jurisdictions. Forward‐looking statements can generally be identified by the use of forward‐looking words such as ‘may’, ‘should’, ‘expect’, ‘anticipate’, ‘estimate’, ‘scheduled’ or ‘continue’ or the negative version of them or comparable terminology. Any forecasts or other forward looking statements contained in this announcement are subject to known and unknown risks and uncertainties and may involve significant elements of subjective judgment and assumptions as to future events which may or may not be correct. There are usually differences between forecast and actual results because events and actual circumstances frequently do not occur as forecast and these differences may be material. Mitchell Services does not give any representation, assurance or guarantee that the occurrence of the events expressed or implied in any forward‐looking statements in this announcement will actually occur, and you are cautioned not to place undue reliance on forward‐looking statements.