VERIS LIMITED — Capital/Financing Update 2016

Apr 26, 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

27 April 2016

$25.0 MILLION ACQUISITION FACILITY

OTOC is pleased to announce it has agreed commercial terms with Commonwealth Bank of Australia for a new acquisition facility, comprised of an approved $10.0 million acquisition line, in conjunction with indicative terms for a further extension to this facility up to $25.0 million.

Approval of the proposed extended facility is subject to formal review, credit approval and formal documentation. Subsequent utilisation of this facility will be subject to conditions precedent typical for a facility of this nature.

This facility shall enable OTOC to request up to $25.0 million to fund acquisition opportunities as they arise. The purpose of the facility is to provide OTOC with an enhanced financial capacity to undertake material acquisitions in line with OTOC’s stated strategy of developing a national surveying, town planning and geospatial business.

OTOC’s existing and proposed facilities with CBA are summarised below:

	Current $	Proposed $
Facility
New approved Acquisition Line	-	10,000,000
Proposed Acquisition Line Extension	-	15,000,000
Commercial Bills1	4,500,000	-
Asset Financing	2,000,000	2,000,000
Multi Option Facility	5,000,000	5,000,000
Total	11,500,000	32,000,000

Note 1: $9.0m Commercial Bills facility, established in October 2014 of which $4.5m was repaid and $4.5m to be refinanced.

Commenting on the acquisition facility, OTOC CEO Simon Thomas said:

“We are pleased with the Banks ongoing support. The approved and proposed acquisition lines are a testament to the strong relationship we have developed with our financiers and OTOC’s financial performance. This facility will provide funding for further acquisitions of identified partners, in order to advance our national surveying strategy and growth aspirations.”

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ABN 80 122 958 178 ACN 122 958 178

About OTOC

OTOC offers surveying, planning and design services throughout Australasia. A leading provider of professional consulting and innovative spatial solutions, OTOC delivers quality service to clients across a range of industry sectors.

OTOC Australia, OTOC’s Infrastructure division provides infrastructure construction and maintenance services to clients covering renewable energy, government, resources, utilities and remote areas.

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