SOUTHERN CROSS ELECTRICAL ENGINEERING LTD — Capital/Financing Update 2018

Nov 7, 2018

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Highlights

• Banking facility with CBA increased

• Bonding capacity up from $60m to $100m

• Strengthens SCEE’s ability to undertake upcoming large scale infrastructure projects

SCEE is pleased to announce that the Commonwealth Bank of Australia (“CBA”) has increased SCEE’s MultiOption Facility for the provision of bank guarantees and working capital from $40 million to $50 million and has raised the permitted limit of bonding from other providers from $20 million to $50 million.

In accordance with this raised permitted limit, SCEE has increased existing or entered into new surety bond facilities with Chubb Insurance Australia, AIG Australia and Assetinsure such that, in combination across all of the CBA and surety bond facilities, SCEE’s total available bonding capacity has increased from $60 million to $100 million.

Commenting on the increases, SCEE Managing Director Graeme Dunn said “I am pleased to announce this expansion of our banking and bonding facilities which will provide us with capacity to grow the business over the coming period and in particular to service upcoming large scale infrastructure projects that we are targeting.”

The CBA Facility is subject to normal commercial terms and conditions and matures on 31 October 2019.

Contact

SCEE Perth Office 41 Macedonia Street Naval Base WA 6165 T: +61 8 9236 8300

Graeme Dunn CEO & Managing Director E: graeme.dunn@scee.com.au

Colin Harper Company Secretary E: colin.harper@scee.com.au

Southern Cross Electrical Engineering Limited

ABN 92 009 307 046