RAIDEN RESOURCES LIMITED — AGM Information 2013

Nov 24, 2013

25 November 2013

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ASX Announcement

Chairman’s Address to Annual General Meeting

In April this year SubZero Group Limited effectively launched on the Australian Stock Exchange and in the relatively short time since we have substantially delivered on the strategy presented to investors. Together with the Company’s inaugural Chairman Glenn Molloy, I would like to thank shareholders for their support and I am pleased to report that the Company is well positioned to face the challenges of the current economic climate.

Whilst in some respects we are not a traditional mining services company we have not been immune from the downturn in the mining and resources sector. Having resolved some teething problems during the final stages of the development of our new purpose built facilities in Muswellbrook, the Company has now emerged from the ASX listing process. And whilst the underlying results have been unsatisfactory to date, they are broadly in line with expectations.

The Company’s focus since listing has been to consolidate its financial position and to secure an ongoing pipeline of work to support its growth strategies as a provider of maintenance services to the mining and resource sector. We have also been pursuing refinancing initiatives to provide the necessary working capital to properly fund the Company’s ongoing activities and its proposed growth. The recently completed placement and the “in progress” fully underwritten rights issue are part of these initiatives. As you will have read all your Non-Executive Directors are taking up their entitlements but our CEO & Managing Director, Scott Farrell will not do so which allows the entry of more institutional shareholders to the Company’s register .

The Company’s commitment to work place safety, and to staff training and development have been key factors in its ability to maintain the support of long standing customers and to attracting the business of new ones. Whilst the Company has downsized to some extent to improve efficiencies it has nevertheless continued its apprenticeship program in expectation of a “maintenance boom”.

Our business model is built around providing critical tasks and services, which involve preventative, regular and planned maintenance activities across a wide range of vehicles and machinery types. The majority of these services are non-discretionary in nature and critical to our clients in maximising their production and minimising downtime. SubZero’s aim is to provide our clients with low execution risk together with meaningful cost benefits whilst generating a sound revenue basis to support our own growth and development as a business.

With the expansion of our facilities in the Hunter Valley SubZero now has a total of over 17,000 square metres of climate controlled workshop space.

With the completion of the new purpose built facility at Muswellbrook, we are in a unique position to offer our clients a purpose built mining equipment and machinery, maintenance and refurbishment facility. This facility has approximately 10,000 square metres of workshop space with 150 tonne total cranage capacity where work can be carried out for clients on a

24/7 basis. As a result, we expect to see a rapid expansion in the volume of work in this area where SubZero has both the facilities and the expertise to support the industry.

As you will have seen from our announcement on 1 November the Company currently occupies as lessee four properties owned by Scott Farrell including the new purpose built facility at Muswellbrook that I have just talked about. All the properties are strategically located in the Hunter Valley Region and are integral to the Company's operations. The Company is currently reviewing the acquisition of a 49% economic interest in the properties for a consideration which would include the issue of up to 24 million shares at 10 cents per share plus debt extinguishment. Any acquisition will be subject to independent valuations of the properties, an independent expert's report and of course be subject to shareholder approval.

Since listing on the ASX, we have been awarded a number of contracts that secure an estimated $130 million worth of additional work and we have also a developed a strong pipeline behind this which is expected to support the economic viability of the business.

As Chairman of the Company I would like to acknowledge the efforts of the CEO Scott Farrell, CFO Robert Lojszczyk, the management team and our workforce who have enabled us to achieve many of our objectives and supported the Company’s transition to listed public company status. As a service Company people are key to our success and we value their commitment.

I would also like to thank Glenn Molloy who is retiring as Non-Executive Director and acknowledge his service to SubZero. As we have previously announced Mr Frank O’Halloran will be joining the Board shortly. Regretfully Frank can’t be with us today as he was already committed to meetings interstate.

As we look forward, your Board remains focussed on delivering strong financial performance and an attractive return to shareholders. I believe that the Company has achieved much in a relatively short time and is on track to meet these objectives in the years ahead.

For further information:

Scott Farrell

Managing Director P: +61 2 6540 9400 F: +61 2 6540 9444 M: +61 438 251 699 E: sfarrell@subzeroservices.com.au

Robert Lojszczyk

Chief Financial Officer P: +61 2 6540 9400 F: +61 2 6540 9444 M: +61 418 362 283 E: rlojszczyk@subzeroservices.com.au

About SubZero Group Limited

The SubZero Group carries on an established mining service business based in the Hunter Valley, New South Wales. Its clients are almost exclusively involved in the Hunter Valley thermal coal mining industry. SubZero Group’s services include Mechanical Support (on and off-site mining machinery support), Structural Support (on and off-site engineering support) and Production Support (mining production support). SubZero has a presence in over 25 coal mines and over 90 clients including Rio Tinto, BHP Billiton and Xstrata. Further information can be found at the SubZero website: http://subzeroservices.com.au/