VERBREC LIMITED — AGM Information 2011

Nov 9, 2011

Chairman’s Address

To the Annual General Meeting of LogiCamms Limited, held on Thursday 10 November 2011 at 2:00pm WST at Engineers Australia Auditorium, 712 Murray Street, Perth, Western Australia.

I am pleased to report that LogiCamms has made excellent progress towards its Vision of being a market leader delivering outstanding customer solutions.

The past financial year presented several short term challenges, however 2011 was also a year in which a number of key milestones were achieved that demonstrate progress in our strategic plan. These include:

• Transitioning from a secondary contractor to enhance primary relationships with blue chip and strategic customers;

• Securing long term service agreements and larger contracts;

• Strengthening the Board and Executive Management team; and

• We continued to attract and retain high calibre people.

We were awarded our largest multidiscipline Engineering, Procurement and Construction contract by BHP Billiton at Olympic Dam in South Australia - a strategic project that involves delivery of a new process facility and reflects growing market confidence in our multidisciplinary engineering capabilities.

The Company’s Revenue increased by 38% to $97.8 million.

Our team expanded to over 400 employees Australia-wide during the past financial year, and we continued to make important progress in our organisational development.

LogiCamms’ health and safety record remains strong, with injury frequency rates well below industry benchmarks. One of our core values is ‘Commitment to People’, with a key factor being ‘Safe in everything we do’ and we are relentless in pursuing this.

The impact of Queensland’s natural disasters, and project challenges on two large fixed price contracts in Queensland and Victoria which are now resolved, weighed heavily on our earnings. We achieved a Gross Profit Margin of 33.8%, down from 37.4%, and Net Profit After Tax of $4.6 million, down by 17% on the previous year.

Company Details Company Secretary Share Registry LogiCamms Limited ASX: LCM Mr Paul Bowker Computershare Investor Services ACN 127 897 689 P +61 8 6331 8888 P 1300 557 010 (within Australia) P +61 3 9415 4000 (outside Australia) Non Executive Board Directors Investor Relations Contact W www.investorcentre.com Mr Peter Watson (Chairman) Mr Matt Adamo Mr Peter Wall AM Chief Financial Officer Registered Office Mr Damian Young P +61 8 6331 8888 35 Outram Street Mr Giles Everist West Perth WA 6005 P +61 8 6331 8888 Executive Directors F +61 8 9481 5045 Mr Steve Banning (Managing Director) E info@logicamms.com.au W www. logicamms .com.au

Despite these short term challenges the pipeline of project opportunities continued to increase during the year. We moved to strengthen our balance sheet through a capital raising completed in May which raised $8.5 million to fund an increase in working capital and bonding requirements associated with these project opportunities.

The full year dividend to Shareholders was 4.5 cents per share, down from 6.25 cents. This full year dividend reflects a payout ratio in line with the Company’s previously stated policy of 40-60% of Net Profit After Tax.

Like most public companies on the ASX, our share price has been impacted by turbulence in equity markets. Our focus remains firmly on our strategy and what we can control to achieve our strategic objectives and deliver long term sustainable value for shareholders.

The Company took steps to strengthen the Board and Executive Management team during 2011.

We are very pleased to welcome Steve Banning to LogiCamms as Managing Director. Steve commenced in October, following an extensive local and international recruitment process for a leader with the characteristics and credentials necessary to take the Company through the next phase of its development.

Steve has extensive experience across the resources and energy industry, most recently as CEO of Epic Energy. In that capacity, Steve led Epic through a period of significant growth in its infrastructure under management particularly in services to the hydrocarbons sector. Earlier in his career Steve was the General Manager Commercial of Epic Energy and Group Manager at Duke Energy International.

Steve comprehensively fulfilled the criteria we had put in place and his appointment further strengthens the Executive Management team. We believe his experience, leadership skills, and operational expertise and the close alignment Steve has with our established Vision and Core Values will enable him to successfully drive the Company’s growth strategy.

Transitional changes within the Board have also taken effect during the year. Giles Everist and I joined the Company as Non-Executive Directors in April and June respectively and we both stand for re-election today.

Non-Executive Director Chris Greig retired in August, and Garry McGrechan and David Humann will retire today. We thank each of them for their valuable contributions since the Company’s listing in 2007.

Company Details Company Secretary Share Registry LogiCamms Limited ASX: LCM Mr Paul Bowker Computershare Investor Services ACN 127 897 689 P +61 8 6331 8888 P 1300 557 010 (within Australia) P +61 3 9415 4000 (outside Australia) Non Executive Board Directors Investor Relations Contact W www.investorcentre.com Mr Peter Watson (Chairman) Mr Matt Adamo Mr Peter Wall AM Chief Financial Officer Registered Office Mr Damian Young P +61 8 6331 8888 35 Outram Street Mr Giles Everist West Perth WA 6005 P +61 8 6331 8888 Executive Directors F +61 8 9481 5045 Mr Steve Banning (Managing Director) E info@logicamms.com.au W www. logicamms .com.au

Turning to the current year and beyond, LogiCamms is in a healthy financial position with what I believe is the right strategy to take advantage of a strong pipeline of opportunities within the mining and minerals, hydrocarbons, infrastructure and specialist industry sectors.

We recently announced the acquisition of Perth-based training provider Power Supply Services and Training. This investment was to complement our existing training capabilities, and provide further access to blue chip operators in Western Australia’s mining industry. Integration activities are near completion and the complement to our existing training capability is already enhancing our access to customers both in Western Australia and across the country.

We are in pursuit of over $300 million in opportunities, and we expect the markets in which we operate to remain strong into 2012. LogiCamms recently secured a number of key contracts in the mining and hydrocarbon sectors which Steve will outline today.

We are continuing to take steps to reduce risk within the business by focusing several key initiatives. These include effective business and project assurance practices; long-term customer relationships; geographic diversification, extension of our service offering and capabilities in line with strategy; a balanced portfolio of r contracts; a reduced appetite for fixed price contracts; and the pursuit of EPCM projects.

In my view LogiCamms has a complementary mix of quality people, passion, dedication and the capabilities to succeed within its target markets. During the three month period of recruiting a Managing Director I stepped into an Executive Chairman role and gained excellent insights into the business at an operational level. The experience reaffirmed my confidence in the Company’s people, strategy and opportunities.

I would like to thank and congratulate LogiCamms staff for their ongoing focus on our customers, safety, delivery of quality outcomes, and continued support of the LogiCamms Vision of being a market leader delivering outstanding customers solutions.

Thank you also to my colleagues on the Board and to the Executive Management team for their contributions throughout the year, and we look forward to working with Steve and his management team during the year ahead.

Peter Watson Chairman LogiCamms Ltd

Company Details Company Secretary Share Registry LogiCamms Limited ASX: LCM Mr Paul Bowker Computershare Investor Services ACN 127 897 689 P +61 8 6331 8888 P 1300 557 010 (within Australia) P +61 3 9415 4000 (outside Australia) Non Executive Board Directors Investor Relations Contact W www.investorcentre.com Mr Peter Watson (Chairman) Mr Matt Adamo Mr Peter Wall AM Chief Financial Officer Registered Office Mr Damian Young P +61 8 6331 8888 35 Outram Street Mr Giles Everist West Perth WA 6005 P +61 8 6331 8888 Executive Directors F +61 8 9481 5045 Mr Steve Banning (Managing Director) E info@logicamms.com.au W www. logicamms .com.au

Managing Director’s Address

To the Annual General Meeting of LogiCamms Limited, held on Thursday 10 November 2011 at 2:00pm WST at Engineers Australia Auditorium, 712 Murray Street, Perth, Western Australia.

Thank you for your interest in LogiCamms.

Since joining the Company last month, I have had the opportunity to meet a large number of people in each of our main offices around Australia. This has given me an excellent insight into the operations of the business and the quality of the people within LogiCamms.

This preliminary review has confirmed my confidence in the potential of this organisation. LogiCamms is well positioned to continue to grow and achieve its strategic objectives. I can also add that I have been impressed and encouraged by the capabilities, commitment and passion of our people.

In terms of recent awards I am pleased to report that the number and value of new orders won in recent months is significant. Some of the recent contract awards include:

• Delivery of the plant-wide Control System of the Rio Tinto-operated Kestrel underground coal mine in the Bowen Basin;

• Various projects for Origin Energy in supporting their development of their Coal Seam Gas assets in Queensland;

• Delivery of multidiscipline engineering solutions for Train Load Out projects across several Bowen Basin coal mines for BMA; and

• Various projects for BHP Billiton on their existing assets

Looking ahead, I believe we have a strong future. We have significant market opportunities across a diversified portfolio of customers and tendering activities within the business are at record levels. I am confident we have the right combination of skills and people to convert and deliver these opportunities.

LogiCamms is an organisation driven by the people within it - a working environment and cultural characteristic I believe is of fundamental value. Our people demonstrate a skill set, passion and belief in our Core Values, which will underpin the success of our services-based organisation.

Company Details LogiCamms Limited ASX: LCM ACN 127 897 689

Non Executive Board Directors Mr Peter Watson (Chairman) Mr Peter Wall AM Mr Damian Young Mr Giles Everist Executive Directors Mr Steve Banning (Managing Director)

Company Secretary Share Registry Mr Paul Bowker Computershare Investor Services P +61 8 6331 8888 P 1300 557 010 (within Australia) P +61 3 9415 4000 (outside Australia) Investor Relations Contact W www.investorcentre.com Mr Matt Adamo Chief Financial Officer Registered Office P +61 8 6331 8888 35 Outram Street West Perth WA 6005 P +61 8 6331 8888 F +61 8 9481 5045 E info@logicamms.com.au W www. logicamms .com.au

LogiCamms will work hard during the year ahead to deliver on our objectives and those of our customers plus delivery of long term sustainable value for our shareholders. With respect to the 2012 financial year we remain confident in achieving earnings in line with current broker consensus estimates, with a weighting of earnings to the second half. While the pipeline of project opportunities remains strong, 2012 financial performance will rely on the conversion rate of these opportunities.

Together with the rest of the organisation I look forward to playing my part in continuing to build this dynamic business and the pursuit of being a market leader delivering outstanding customer solutions in engineering, project delivery and asset management.

Steve Banning Managing Director LogiCamms Ltd

Company Details Company Secretary Share Registry LogiCamms Limited ASX: LCM Mr Paul Bowker Computershare Investor Services ACN 127 897 689 P +61 8 6331 8888 P 1300 557 010 (within Australia) P +61 3 9415 4000 (outside Australia) Non Executive Board Directors Investor Relations Contact W www.investorcentre.com Mr Peter Watson (Chairman) Mr Matt Adamo Mr Peter Wall AM Chief Financial Officer Registered Office Mr Damian Young P +61 8 6331 8888 35 Outram Street Mr Giles Everist West Perth WA 6005 P +61 8 6331 8888 Executive Directors F +61 8 9481 5045 Mr Steve Banning (Managing Director) E info@logicamms.com.au W www. logicamms .com.au