PRO-PAC PACKAGING LIMITED — Capital/Financing Update 2018

Jul 5, 2018

6 July 2018

==> picture [228 x 23] intentionally omitted <==

ASX ANNOUNCEMENT (ASX Code: PPG)

Cleansing Notice

Pro-Pac Packaging Limited ( PPG ) is pleased to advise that, further to its announcement on 2 July 2018, it has completed the issue of a total of 66,539,771 fully paid ordinary shares ( Shares ) at an issue price of $0.34 per Share to existing and new institutional and sophisticated investors ( Placement ).

The Placement raised approximately $22.6 million before costs, which will be used to partly fund two acquisitions by PPG. Further information on the Placement and the acquisitions are set out in the ASX announcement and investor presentation dated 2 July 2018.

Cleansing Statement

In respect of the Placement referred to above, PPG gives notice as required under section 708A(5) of the Corporations Act 2001 ( Act ) that:

• 1 PPG issued the Shares without disclosure under Part 6D.2 of the Act;

• 2 this notice is being given under section 708A(5)(e) of the Act;

• 3 the Shares are in a class of securities that were quoted securities at all times in the 3 months before the date on which the Shares were issued;

• 4 as at the date of this notice, PPG has complied with:

• a the provisions of Chapter 2M of the Act as they apply to PPG; and

• b section 674 of the Act; and

• 5 as at the date of this notice, there is no 'excluded information’ as defined in section 708A(7) or 708A(8) of the Act.

Yours sincerely

Mark Saus PPG Secretary

==> picture [128 x 49] intentionally omitted <==