VERBREC LIMITED — Capital/Financing Update 2018

Jun 7, 2018

ASX Announcement 8 June 2018

Market Update

LogiCamms Limited (ASX: LCM ) provides the following update further to its announcement of 13 April 2018.

Business Performance

As reported by the Company on 13 April 2018, delays in work have been experienced for a number of larger contracts resulting from a variety of factors, including client business restructuring, and the recent earthquake in PNG. These delays have continued to impact upon the business subsequent to the April announcement. During the period LogiCamms has continued its strategic decision to retain its key talent, who have been refocused on business development, to ensure service excellence to these clients is delivered once the delay events are resolved. The Company maintains its previously reported guidance of delivering revenue levels similar to FY17 ($82.1M) and an FY18 EBITDA margin in the low single digits for the full financial year. As a result of the continued delays we now expect 2HFY18 EBITDA will be negative however Q4FY18 to be EBITDA positive as delayed projects come on stream.

New Contract Wins

LogiCamms is pleased to announce that its controls engineering diversification strategy into infrastructure projects has been successful with recent wins including a $4.75M contract with a water infrastructure client in Queensland, and a $4.15M contract with a water infrastructure client in South Australia. These projects are in addition to the steady stream of contract wins currently experienced by the business with both new and existing clients under its master service agreements.

The Group’s work in hand at 31 May 2018 was $34.17M, a substantial increase from that reported as at 13 April 2018 of $27.3M.

Outlook

The Company’s results for May 2018 are solid as the delays are coming to an end, enabling us to confirm full year guidance after a difficult Q3.

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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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