VERBREC LIMITED — Earnings Release 2012

Aug 26, 2012

ASX Announcement 27 August 2012

LogiCamms posts record full year result and dividend

Australian engineering, project delivery and asset management services provider, LogiCamms Limited , has announced a full year net profit after tax (NPAT) of $10.7 million, up from last financial year‟s NPAT result of $4.6 million.

In summary against the previous corresponding period (pcp):

• NPAT of $10.7 million , up 133% from $4.6 million

• Revenue of $123.1 million , up 26% from $97.8 million

• EBITDA of $11.3 million , up 135% from $4.8 million

• EPS of 15.9 cents

• Full year dividend of 8.5 cents per share , and final dividend of 5.0 cents per share

• Expanding workforce to 490 people, in line with work volumes

• Strong FY13 outlook and robust opportunity pipeline

• Delivering on the Company strategy

The Company posted revenue of $123.1 million, up by 26 per cent on the pcp with the second half up 20 per cent on the first half revenue. Earnings before interest tax depreciation and amortisation (EBITDA) was up on the previous 12 months at $11.3 million, representing 9.2 per cent margin on revenue, with the second half up 63 per cent on the first half EBITDA. These results were ahead of the earnings guidance provided in May 2012.

Managing Director Steve Banning said, “We are very pleased with the full year results which have showed that the solid foundations we built over the last 12 months are delivering. Our improved earnings reflect a healthy response from our customers to our expanded offering, as well as our focus on strategy and risk management and our efforts to realise operational efficiencies,” Mr Banning said.

The NPAT result was attributed to the Company‟s strong operational performance and strengthened risk management framework, but also includes a significant income tax credit in relation to the current financial year of $1.2 million and the previous financial year of $1.8 million. This tax credit, which has consistently featured in the Company‟s NPAT over time, is with respect to research and development activities performed by LogiCamms as part of providing solutions to customers.

The Board announced a final dividend of 5.0 cents per share bringing the full year dividend to a record 8.5 cents, up from 4.5 cents in FY11. This reflects a payout ratio in line with the Company‟s previously stated policy of 40-60 per cent of NPAT. The record date is 12 September 2012 with a payment date of 26 September 2012.

The share buy-back announced in February 2012 for a period of 12 months of up to $2.0 million in issued capital remains in place, and to date the Company has repurchased 262,000 shares. The extent and timing of shares to be purchased under the announced buy back going forward will depend on market conditions.

Operating cash flow was strong, with cash from operating activities of $9.8 million. The Company had no outstanding borrowings and a net cash position of $16.4 million as at 30 June 2012.

Mr Banning commented, “We believe a solid foundation is in place for continued earnings growth. The business remains agile and vigilant in light of current global economic volatility and a levelling in some

Engineering | Project Delivery | Asset Management

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

Share Registry Computershare Investor Services Tel. +61 3 9415 4000 www.investorcentre.com

segments of the resources sector. During this period of uncertainty we believe that our focus on longer term contracts, industry diversity, and services that target enhancing value with respect to existing assets, positions us well to respond to dynamic market conditions.”

Key performance highlights for the Company during FY12 are summarised below.

Profitability and Returns

• Delivering sustainable profitability and solid returns.

• Improved operational efficiencies, enhanced strategy and risk management framework.

“LogiCamms is delivering on its strategy with a record year of profit and returns. We have optimal foundations in place to achieve continued growth,” Mr Banning said.

New and Ongoing Projects with Top Tier Customers

• Awarded significant contracts with Rio Tinto, Chevron and Stanwell Corporation.

• Secured new long term agreements, and repeat business from existing customers.

• Robust portfolio of projects at brownfield (existing) operations and expanded international project portfolio.

Mr Banning commented, “Our strategic focus on longer term relationships is being realised, with the majority of our services being delivered for brownfield operations and existing customers. Our international project expansion is being driven by existing customer relationships and reflects the geographically transferable nature of our services.”

Strong Opportunity Pipeline and Order Book

• Significant increase in tendering and negotiating activities within our opportunity pipeline during the period.

• Strengthening work in hand / forward order book.

Mr Banning stated, “We have applied increasing rigour in assessing the certainty of our opportunity pipelines. The review highlighted the robustness of our prospects due to our strategic focus, services and industry diversity, and quality of our customer base. ”

People, Health and Safety

• Strengthened leadership with key appointments including Managing Director Steve Banning.

• Initiated a comprehensive people and culture strategy.

• Growth in workforce numbers to 490 people.

• Strong health and safety performance and continued focus on „Zero Harm‟.

“LogiCamms‟ people are at the core of our success and we remain committed to „Zero Harm‟. We have invested in multiple internal and external campaigns to attract, retain and develop our people and achieve better operational efficiencies for our business. This focus area will continue to be an important competitive advantage,” Mr Banning commented.

Engineering | Project Delivery | Asset Management

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

Share Registry Computershare Investor Services Tel. +61 3 9415 4000 www.investorcentre.com

Optimal Positioning for Continued Growth

• Optimally positioned to capture market opportunities.

• Our strategic focus, services and industry diversity, and quality of customer base will underpin continued growth.

“Our Company is well positioned with the right strategy in place to capture an increasing share of market opportunities. We expect the markets in which we operate to remain solid through the 2013 financial year and an increase in earnings is anticipated.

“Our annual performance is a strong indicator of the health of our business and I believe excellent foundations are in place to sustain year-on-year growth.

“The Company is confident that the medium and long term prospects remain positive based on the quality of its people and customers plus its strong financial capacity. LogiCamms is committed to being optimally positioned for the substantial opportunities ahead,” Mr Banning concluded.

Webcast

LogiCamms will be presenting the full year results from 12:15pm AEST on Monday 10 September 2012.

To watch a live streaming of this presentation, visit this website link and register your details: http://www.brrmedia.com/event/102215/?popup=true

After the presentation, the webcast will be archived and available for viewing in the future on the website - - address above and also at LogiCamms‟ website http://www.logicamms.com.au/investor relations/investor presentations.html

• Ends -

Further information

Mr Matthew Adamo Chief Financial Officer Tel. +61 7 3058 7000

Media enquiries Mr David Ikin Professional Public Relations Tel. +61 8 9388 0944

About LogiCamms

LogiCamms operates in mining and minerals, hydrocarbons, infrastructure and industries. The company provides multidiscipline engineering, project delivery and asset management services to enhance the long-term value of new and existing operational assets.

The business operates offices across Australia including Perth, Brisbane, Adelaide, Melbourne, Darwin, Gladstone, Mackay and Whyalla. The company‟s Vision is to be a market leader delivering outstanding customer solutions.

Engineering | Project Delivery | Asset Management

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

Share Registry Computershare Investor Services Tel. +61 3 9415 4000 www.investorcentre.com