SERVICE STREAM LIMITED — Capital/Financing Update 2011

Feb 17, 2011

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Service Stream Limited Level 1, 355 Spencer Street Tel: 61 3 9677 8888 West Melbourne, Victoria, 3003 Fax: 61 3 9677 8800 PO Box 14570 ABN: 46-072-369-870 Melbourne, Victoria 8001

www.servicestream.com.au

ASX & Media Release

18 February 2011

Long Term Incentive Plan – proposed issue of shares

Service Stream has established a Long Term Incentive Plan (2011 LTIP) for its senior executives for the financial year ending 30 June 2011.

The 2011 LTIP aligns the interests of senior executives and Service Stream’s shareholders by rewarding senior executives for their contribution towards improving the company’s performance and creating shareholder value.

Under the 2011 LTIP, a participating senior executive (or an associate nominated by the senior executive) may acquire performance rights for nil consideration. Each performance right entitles the holder to be issued one ordinary share in Service Stream for nil consideration, subject to certain employee service conditions and company performance vesting conditions being satisfied.

The company performance vesting conditions are based on:

• (i) annual growth in Service Stream’s earnings per share (50% weighting); and

• (ii) Service Stream’s total shareholder return relative to a relevant peer group of companies (50% weighting)

both over the three year period from 1 July 2010 to 30 June 2013.

The earliest time that shares can be issued under the 2011 LTIP is following the release of Service Stream’s results for the financial year ending 30 June 2013.

Service Stream proposes to award a total of 2,803,128 performance rights under the 2011 LTIP.

In accordance with rule 3.10.3 of the ASX Listing Rules, Service Stream provides the following information about the proposed issue of shares underlying the performance rights:

1. The class of securities to be issued is ordinary shares, which are to be issued as fully paid.

2. If all of the performance rights Service Stream is proposing to award to senior executives are acquired by them, and if all of the conditions in relation to those performance rights are satisfied, Service Stream would issue a total of 2,803,128 ordinary shares.

3. The ordinary shares will, on issue, rank equally with all other ordinary shares then on issue in Service Stream, including in respect of voting rights and dividend entitlements.

4. No consideration will be payable for the ordinary shares to be issued under the performance rights.

5. The purpose of the proposed issue is to satisfy the entitlement of senior executives to be issued shares in Service Stream under the terms of the 2011 LTIP.

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1. Senior executives who are directors of Service Stream will have no entitlement to any shares, and Service Stream has not agreed to issue any shares to them, unless and until any required approval of Service Stream shareholders has been obtained. It is currently proposed that shareholder approval will be sought at Service Stream’s 2011 annual general meeting for awards to any affected senior executives.

2. Ordinary shares are proposed to be issued to senior executives or their nominated associates. No shares are being issued to any particular class of Service Stream shareholders.

The Board of Service Stream is very pleased to have completed the arrangements for the 2011 LTIP, and is confident that the plan provides an appropriate reward for the endeavours of the Company’s hard working senior executives, where that effort leads to a real increase in shareholder value. In an increasingly challenging environment, the Board is particularly pleased to have the services of such a motivated and talented group of women and men, and looks forward to the continued success of the Company through their full engagement.

For further details contact:

Service Stream Limited

Ms Jessica Lyons Company Secretary Tel: (61 3) 9677 8888

About Service Stream Limited:

Service Stream is a public company listed on the Australian Securities Exchange (ASX Code: SSM) with annualised revenues of approximately A$600 million. The Company is an industrial services enterprise with proven outsourced infrastructure deployment, management and service capabilities across 55 locations throughout Australia. Service Stream’s technical workforce of over 4,000 supports large asset owners on the deployment, management and servicing of essential network infrastructure in the telecommunication, electricity, water and gas sectors. For more information please visit the Company’s website at www.servicestream.com.au.

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