SCIDEV LTD — Capital/Financing Update 2013

Nov 25, 2013

ABN 25 001 150 849

Level 3, 100 Mount Street North Sydney NSW 2060 Australia PO Box 1507 North Sydney NSW 2059 Australia

Phone: 61 (0)2 9954 7888 Email: mail@intec.com.au Website: www.intec.com.au ASX code: INL

Companies Announcements Office Australian Securities Exchange

26 November 2013

Acquisition of Interest in Mining & Agribusiness Chemical Business

Intec Ltd (Intec or the Company) (ASX: INL) announces that it has today completed a transaction to acquire a 50% interest in Science Developments Pty Ltd (SciDev) and has an option to increase its ownership to 100%.

Sydney-based SciDev was established in 2001 to commercialise technologies developed in the area of organic wastewater treatment chemicals that are applicable across a broad range of industry sectors. SciDev has operated profitably since establishment and has continued to research, develop, manufacture and import a range of coagulants and flocculants for use in wastewater treatment and sludge dewatering principally in the mining and agribusiness industries. Intec believes that there is opportunity for business growth through expansion into other target sectors and geographical areas where SciDev do not currently have a presence.

The acquisition of an interest in SciDev complements Intec’s current and recent activities in the treatment of waste products from mining and related industries. The existing management of SciDev will remain in place and Intec will appoint two Directors to the SciDev Board, which currently has two members.

The form of the acquisition is the purchase of 50% of the existing issued shares in SciDev, and the terms of the acquisition are as follows:

1. The initial 50% interest in SciDev has been acquired for a cash consideration of $1.3 million that was solely funded from the Company’s cash resources, which stood at $3.414 million at 30 September 2013 (Tranche 1); and

2. An option to acquire the remaining 50% of SciDev prior to 31 August 2016 based on an agreed formula related to future profitability (Tranche 2).

In relation to ASX Listing Rule 11.1.1, the Company advises as follows:

• a) Likely effect of Tranche 1 transaction on Company total assets: It is expected that there will be no significant effect on the Company’s total assets.

• b) Likely effect of Tranche 1 transaction on Company’s total equity: No effect.

• c) Likely effect of Tranche 1 transaction on annual revenue and annual profit before tax and extraordinary items: Likely effect will be dependent upon future trading conditions but is expected to be positive.

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Concurrently with the SciDev acquisition, Daniel (Don) Cronin has been appointed a NonExecutive Director of Intec. Mr Cronin has had an extensive international career in the chemicals industry. He has held senior roles in divisional group management, operations and marketing at BASF, Degussa and Sandoz.

His most recent position was Senior Vice President – Construction Chemicals for BASF with responsibility for Europe, the Middle East and Africa. He had responsibility for operating units with annual sales of approximately €600 million in over 40 countries.

Mr. Cronin holds a B.E (Civil Eng.) from University College, Cork, Ireland, a MSc. in Structural Engineering from the University of Southampton and an MBA from the London Business School.

Mr. Cronin will be appointed as one of Intec’s nominee directors on the Board of SciDev.

Intec Ltd

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Kieran G Rodgers Managing Director

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