VERIS LIMITED — Capital/Financing Update 2020

Dec 9, 2020

ASX / MEDIA RELEASE - VRS

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10 December 2020

Veris secures $1.2m of Defence works

Veris Limited (ASX: VRS) is pleased to announce that its wholly owned subsidiary Veris Australia (Veris) a leading surveying, digital and spatial and planning business, has secured three new contracts in the Defence sector with a combined value of approximately $1.2 million.

The new contracts in Victoria, New South Wales and Western Australia demonstrate the execution of Veris Australia’s strategy as it targets the application of its specialist technical and advisory services to the Defence sector nationally, and aims to secure a larger share of the projected increase in Defence infrastructure expenditure over the coming decade.

The contracts include:

• Victoria Barracks Redevelopment, Melbourne, Victoria: The Defence project has a proposed capital funding provision of $230m, planning phase commenced in 2020 and forecast to conclude in 2022. Downer Group has been appointed as the managing contractor for the planning phase of the project. Veris has been appointed as the sub-sub-contractor for Downer, who will provide surveying services, to the planning phase of the project. The Veris works are due to commence in January 2021 and have an expected duration of four months.

• Building Works Stage 1, HMAS Stirling and Henderson, Western Australia: The project will involve the provision of external feature / topographic survey, utility location and survey services to Lendlease. The works have already commenced and have an expected duration of three months.

• Defence Establishment Orchard Hills and the Myambat Depot, New South Wales: The project which has commenced and has an expected duration of three months, involves the provision of digital and spatial surveying works to Hansen Yuncken including the development of a 3D topographical model.

The Australian Federal Government recently announced a record level of targeted investment in Australia’s national defence capability including infrastructure upgrades totalling $270 billion to be invested over the next 10 years.

Veris Australia is well positioned to capture its share of this record level of investment through the strength of its established relationships with Tier 1 contractors, engineering design houses and other specialist Defence contractors and agencies.

Michael Shirley, Chief Executive Officer, Veris Australia commented:

“Defence is a key emerging market for Veris and a targeted part of our growth strategy. These contract wins demonstrate our capacity and specialist capability to support our clients on projects in the defence sector across Australia by aligning to our local presence in those states.

“As a client-focussed business, it’s also extremely pleasing to be continuing our relationship with Tier 1 and specialist defence contractors like Downer, Lendlease and Hansen Yuncken, and we look forward to delivering for them on these projects.

“These wins, along with our sister company, Aqura Technologies’ recently awarded defence-related contract to be performed in Queensland, demonstrate the Group’s ability to successfully execute on this strategy.”

– ENDS –

Authorised for release by the Board of Veris Limited.

Issued by Veris Limited For further information please contact: Veris Corporate Office - Telephone: (08) 62413428

Corporate Office Locations Level 12, 3 Hasler Road T 08 9317 0600 Over 20 offices Veris Australia Pty Ltd Locked Bag 9 veris@veris.com.au across Australia ABN 53 615 735 727 Osborne Park veris.com.au WA 6017