VERBREC LIMITED — Board/Management Information 2017

Oct 24, 2017

ASX Announcement 25 October 2017

Variation to Chief Executive Officer’s Terms of Employment

LogiCamms Limited (ASX: LCM ) announces that the employment contract of its Chief Executive Officer, Ms Flora Furness, has been materially varied to the following:

Effective Date and Term

The changes to Ms Furness’ employment contract are effective from today and the contract continues on an ongoing basis with no fixed term.

Total Fixed Remuneration

Ms Furness is entitled to a total fixed remuneration including superannuation of $450,000.

Incentive

Ms Furness is entitled to participate in the Incentive Plan, with any award split 40% to Short Term Incentive and 60% to Long Term Incentive.

Any award under the Incentive Plan is subject to assessment by the Board based on a series of financial and non-financial metrics.

Ms Furness is also entitled to receive 200,000 Performance Rights as a retention incentive, which are convertible into one ordinary share per Performance Right. The Performance Rights vest and convert into ordinary shares in two equal tranches on 1 July 2018 and 1 July 2019, subject to Ms Furness being employed by LogiCamms as at the date of conversion.

Termination

Ms Furness’ contract is capable of termination in the following circumstances:

1. By either party on the following notice periods:

2. a. For termination between 22 February 2017 and 21 February 2018: 12 months’ notice;

3. b. For termination between 22 February 2018 and 21 February 2019: 8 months’ notice; and

4. c. For termination from 22 February 2019 onwards: 6 months’ notice.

5. By the Company immediately in the event of serious breach, gross misconduct, or in the event of illness or incapacitation.

6. ends -

Further information

Flora Furness Media enquiries Chief Executive Officer Alasdair Jeffrey +61 7 3058 7000 0404 926 768

About LogiCamms

LogiCamms is an agile, flexible engineering and related services company which draws upon our wealth of experience to deliver innovative tailored solutions to our clients, including leading owners and operators of minerals and metals, hydrocarbons and infrastructure assets. The Company works to reduce costs, increase efficiencies, and enhance the value of our customers’ operations. LogiCamms is also an Australian leader in the provision of automation and control systems. LogiCamms is an Australian Securities Exchange listed Company (ASX:LCM) with offices across Australia, New Zealand and Papua New Guinea. LogiCamms’ Vision is to be a market leader delivering outstanding customer solutions.

LogiCamms Limited ASX:LCM ACN 127 897 689 www.logicamms.com.au

Share Registry Link Market Services Limited Ph: +61 7 3320 2200 www.linkmarketservices.com.au