SERVICE STREAM LIMITED — Capital/Financing Update 2013

Aug 5, 2013

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ASX & Media Release

5 August 2013

Market update and lifting of voluntary suspension

The Syntheo Joint Venture has completed a project review of the contracts in place with NBN Co to deliver certain brownfields services in Western Australia and South Australia. While the specific outcomes of that project review remain confidential, as a consequence of the review, Service Stream will recognise a material loss for the project in the FY13 financial year.

In addition, the Syntheo Joint Venture partners and NBN Co have agreed that Syntheo will complete construction work in progress, under the existing contracts for Western Australia and South Australia, but that no further work will be instructed under these contracts.

Service Stream has also reached a new commercial arrangement with Syntheo Joint Venture partner Lend Lease. Under the terms of the agreement, Lend Lease will control the delivery of Syntheo’s remaining obligations under its agreement with NBN Co, subject to the satisfaction of certain conditions precedent.

Following the review and NBN agreements, Service Stream has taken to account all anticipated costs and losses in relation to the Syntheo Joint Venture in the FY13 financial year.

Consequently, the Company anticipates that it will record an EBITDA loss from its Fixed Communications segment for FY13 in excess of $30m after the allocation of corporate costs. This result includes an EBITDA loss of $20m from the Syntheo Joint Venture before any corporate allocations. The Company anticipates an EBITDA profit from the balance of its operations (ie. Mobile Communications, Energy & Water and Unallocated Corporate Costs) for FY13 of approximately $18.5m, which is a solid improvement over the previous year.

Overall, the Company anticipates that it will record an EBITDA loss for FY13 of approximately $13m, with net debt of around $52m as at 30 June 2013. In addition, as previously advised to the market, the Company will take a non-cash goodwill impairment charge of approximately $90m. The Company is in the process of completing the scheduled audit of the FY13 full financial year accounts, and will provide a comprehensive financial update at the time of releasing the audited full year result in coming weeks.

Status of Refinancing

Service Stream will now finalise with its Banks the refinancing arrangements presently underway. The Board remains confident, following ongoing discussions with its Banks, that the refinancing will be completed on reasonable commercial terms.

SERVICE STREAM LIMITED ABN 46 072 369 870 HEAD OFFICE Level 4, 357 Collins Street, Melbourne Vic 3000 | Mailing Address: PO Box 14570 Melbourne VIC 8001 T +61 3 9677 8888 | F +61 3 9677 8877 | E info@servicestream.com.au | www.servicestream.com.au

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Lifting of Suspension

In light of the above, the Company has requested that the ASX lift its voluntary suspension from trading.

For further details contact:

Service Stream Limited Brett Gallagher, Executive Director Tel: +61 3 9677 8817

Service Stream Limited Bob Grant, Chief Financial Officer Tel: +61 3 9677 8817

About Service Stream Limited:

Service Stream is a public company listed on the Australian Securities Exchange (Code: SSM) with annual revenue of approximately $600 million. The Service Stream Group is a provider of essential network services to the telecommunications, energy and water industries. Service Stream operates out of more than 50 locations nationwide and maintains a workforce of over 4,000 employees and contractors. For more information please visit www.servicestream.com.au.

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