VERIS LIMITED — Capital/Financing Update 2019

Mar 6, 2019

ASX/MEDIA RELEASE - VRS

7 March 2019

Clarification Announcement – Veris New Project Awards

Veris provides clarification in regards to the recent project awards announced for our survey division and Aqura Technologies.

Survey

The WestConnex project award recently announced on 18 February 2019 is in addition to the ‘early works’ on this major infrastructure project which Veris announced in its Annual General Meeting presentation dated 21 November 2018.

WestConnex Projects – M4-M5 Link Tunnels – Stage 3A & Rozelle Interchange - Stage 3B

The Lendlease Samsung Bouygues Joint Venture (LSBJV), comprising Lendlease Engineering, Samsung C&T Corporation and Bouygues Construction was selected to design and construct the M4-M5 Link tunnels. It is expected that the works carried out by Veris on this project will be performed over 3 years, with initial works to be completed over a 12-month period. Veris was engaged by LSBJV in late 2018 to complete early works on the M4M5 Tunnels. This was the ‘early works’ project award previously announced in the Veris Annual General Meeting presentation dated 21 November 2018.

Veris has been subsequently been engaged to provide sub-surface utility mapping and location survey works on the Rozelle Interchange (WestConnex Stage 3B) project. This is a project budgeted at $3.9bn and it is expected that the works carried out by Veris on this project will be performed over a 1 – 2 year period. The Rozelle interchange is the most technically complex part to build of the $16.8 billion WestConnex toll road because it will comprise three levels of tunnels and scores of entrances and exits, including a link to the proposed $14 billion Western Harbour Tunnel and Beaches Link.

Parramatta Light Rail Stage 1 Enabling Works

This project award was previously announced in the Veris Annual General Meeting presentation dated 21 November 2018. This is a project budgeted at $2.2bn. Diona Ward Civil JV awarded Veris the utilities service locating and survey works on this project, expected to run over a 1 – 2 year period. Veris has subsequently provided further cadastral survey works on the project.

Veris’ engagement on these projects are based on a schedule of rates basis, as a result, the contract values will vary with the scope of works potential subsequent engagements or variations.

Aqura

The $7.9m of new works packages recently announced on 20 February 2019 across key service lines, Industrial Wireless and Content Access Networks by Tier 1 clients (Rio Tinto, BHP) are in addition to the $5.6m of awards Veris announced in its Annual General Meeting presentation dated 21 November 2018.

The projects include:

Content Access Network projects with BHP:

• Whaleback

• Warrawandu

Perth Office Locations Level 12, 3 Hasler Road T 08 9317 0600 Over 20 offices Veris Limited Locked Bag 9 F 08 9317 0611 across Australia ABN 80 122 958 178 Osborne Park WA 6017 Veris.wa@veris.com.au veris.com.au/contactus Australia veris.com.au

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LTE Industrial Wireless with Rio Tinto:

• Brockman 4

• Hope Downs 1

• ‒ Hope Downs 4

Commenting on the new Veris’ awards, Managing Director Adam Lamond said: “These awards continue to build upon the pipeline of revenue for Veris going forward.”

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For further information please contact: Veris Corporate Office Tel (08) 9317 0628