VERIS LIMITED — Capital/Financing Update 2016

Jun 7, 2016

T (61 8) 9317 0600 A Level 12, 3 Hasler Road | P Locked Bag 9 Osborne Park BC WA 6017, Australia W www.otoc.com.au

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ASX/MEDIA RELEASE - OTC

8 June 2016

LARGEST INTEGRATED OFF-GRID SOLAR AND BATTERY STORAGE FACILITY IN AUSTRALIA ACHIEVES FULL GENERATION CAPACITY

Project highlights

• 34,080 solar PV panels installed, covering 20 hectares

• 10.6MW solar generation

• 6MW battery storage

• Full integration with 19MW diesel power station

• 4,700 supporting posts, housing the NEXTracker module tracking system

• Over 70km of electric cable

Client benefits

• Reduction in diesel consumption by ~5,000,000 litres per year

• CO2 emissions reduced by over 12,000 tonnes

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OTOC is pleased to announce achievement of full generation capacity at the new solar facility for the DeGrussa Copper Mine in Western Australia. The facility is currently generating approximately 7MW of power, which is in line with expectations given the time of year.

The innovative $40 million DeGrussa Solar Project is the largest integrated off-grid solar and battery storage facility in Australia. The project comprises 34,080 solar PV panels with a tracking system mounted on 4,700 supporting posts. The solar array covers a total area of over 20 hectares and is located immediately adjacent to the DeGrussa underground mine and processing plant.

OTOC Australia, in joint venture with juwi Renewable Energy, as the developer, engineering and procurement contractor and operator, confirmed practical completion of the construction phase for the notable project in line with expectations. Major commissioning milestones of the new solar power plant were successfully achieved at the end of May, with the plant having now successfully ramped up to its full generating capacity.

The DeGrussa Solar Power Project is owned by the leading French renewable energy firm Neoen, with juwi Renewable Energy responsible for the project development, EPC and O&M. The plant was constructed by national surveying and infrastructure construction company OTOC (ASX: OTC), with project financing provided by the Clean Energy Finance Corporation (CEFC) and $20.9 million recoupable grant funding support from the Australian Renewable Energy Agency (ARENA).

Commenting on the successful commissioning, OTOC CEO Simon Thomas said:

“OTOC Australia’s track record in remote infrastructure solutions made this project a natural fit for OTOC Australia. This project has showcased our capability to deliver substantial infrastructure projects and market leading technologies in the renewable energy sector. With growing investment in renewable energy projects in Australia, we anticipate further infrastructure opportunities for OTOC Australia in this sector.”

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Editor’s note : To access copies of media releases which were also issued today by the other consortium members listed below as well as new high-resolution images of the DeGrussa Solar Power Project including recent drone footage and images (from last week) and a recent animation sequence showing the DeGrussa Solar Power Project, please click on the following Dropbox link: https://www.dropbox.com/sh/yb46q33v2myg45c/AAApTT9IMgCjFZTYut0125zia?dl=0

About OTOC

OTOC is a leading provider of infrastructure construction and renewable energy services to government, resources, energy, utilities and remote area clients. Our Australasian footprint allows us to leverage our wealth of experience to deliver the highest quality service across critical support infrastructure projects. OTOC prides itself on delivering complete infrastructure solutions through the ability to partner with clients on all project stages, from design through to construction and ongoing maintenance. OTOC also provides premium surveying, aerial mapping, laser scanning, town planning and urban design services nationally across all sectors. OTOC Limited is listed on the ASX with ticker OTC.

About Neoen

Neoen is an independent power producer, generating electricity from renewable sources (solar, wind or biomass). Neoen develops, finances, builds and operates plants and is active in France, Portugal, Australia, Mexico, Egypt, Mozambique, Jamaica, Zambia, Jordan and El Salvador. With a current operating base of 759 MW, Neoen seeks to achieve installed power of over 1000MW by 2017. Founded in 2008, the company is a subsidiary of Impala SAS (www.impala-sas.com), a diversified investment group with over 6000 employees and a global presence, of Bpifrance (www.bpifrance.fr), the French public investment bank, and of private equity firm Omnes Capital (www.omnescapital.com). www.neoen.com

About Sandfire Resources

Sandfire Resources (ASX Ticker: SFR) is a leading mid-tier Australian mining company which operates the high-grade, low cost DeGrussa Copper-Gold Mine in Western Australia. Sandfire Resources is developing a global portfolio of high quality resource assets as the foundation for its longer term vision to build a diversified international mining house.

About juwi

The juwi Group is one of the world’s leading renewable energy companies specialising in the Engineering, Procurement and Construction (“EPC”) of utility-scale projects. With approximately 1,000 employees worldwide, juwi has been involved in the development, design, construction and operation of more than 1,500 solar PV projects and the installation of more than 700 wind turbines with a cumulated capacity of over 3,300MW.

About ARENA

ARENA was established by the Australian Government to make renewable energy technologies more affordable and increase the supply of renewable energy in Australia. Through the provision of funding coupled with deep commercial and technical expertise, ARENA provides the support needed to accelerate the development of promising new solutions towards commercialisation. ARENA invests in renewable energy projects across the innovation chain and is committed to sharing knowledge and lessons learned from its portfolio of projects and information about renewable energy. ARENA always looks for at least matched funding from the projects it supports and to date has committed $1.1 billion in funding to more than 250 projects. For more information, visit www.arena.gov.au.

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About the CEFC

The Clean Energy Finance Corporation (CEFC) invests commercially to increase the flow of funds into renewable energy, energy efficiency and low emissions technologies. The CEFC has supported projects across the Australian economy, benefitting a diverse range of businesses, large and small. The CEFC’s mission is to accelerate Australia's transformation towards a more competitive economy in a carbon constrained world, by acting as a catalyst to increase investment in emissions reduction. The CEFC does this through direct investments which attract private sector finance, as well as through its strategic co-financing partners. The CEFC was created by the Australian Government and operates under the Clean Energy Finance Corporation Act 2012. More information is available on the CEFC website: www.cleanenergyfinancecorp.com.au

For further information please contact Corporate Office - OTOC Limited Tel (08) 9317 0628

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ABN 80 122 958 178 ACN 122 958 178