VERBREC LIMITED — Capital/Financing Update 2017

Aug 2, 2017

ASX Announcement

3 August 2017

Trading Update

Further to the market announcement of 13 June 2017, LogiCamms Limited (ASX: LCM ) provides the following update on FY2017 trading performance.

Revenue for FY2017 is expected to be a little over $80m, consistent with previous guidance.

The Company has now completed the restructure announced in the previous market update, with approximately $6.6m of overhead costs removed from the business at a one-off cash cost of $2.1m. Combined with cost savings of $4.0m from the restructure in February 2017, total annualised cost savings of $10.6m have been achieved.

As previously announced, the Company has reviewed the carrying value of its goodwill assets and will recognise a non-cash statutory impairment in its FY2017 results of $11.0m.

The Company is beginning to see an increase in the level of activity in its traditional market segments, with clients seeking to unlock productivity improvements through innovation, new processes and new systems. Capital investment is being driven by improvements in commodity prices and a desire to balance financial discipline with growth opportunities.

LogiCamms is entering FY2018 with the strongest forward order book in years including firm orders under a number of Master Service Agreements where the ramp up of work had been slower than expected or work was deferred from the second half of FY2017. The Company is actively increasing its workforce of engineering and technology personnel in line with the growth in work in hand.

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Further information

Flora Furness Chief Executive Officer +61 7 3058 7000

Media enquiries Alasdair Jeffrey 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

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