VERIS LIMITED — Capital/Financing Update 2020

May 27, 2020

ASX / MEDIA RELEASE - VRS

28 May 2020

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Aqura secures new commitments in resources and defence sectors

Veris Limited (ASX: VRS) is pleased to announce that its wholly owned subsidiary, Aqura Technologies has secured new contracts with existing clients, BHP, Oz Minerals and a first contract with US based Cubic Corporation a market-leading provider of integrated solutions for the transportation, and defence industries totalling $4.3 million.

The new commitments demonstrate the depth of Aqura’s existing relationships with major resource companies and Aqura’s success in securing works with new clients in diverse sectors despite the disruption of the COVID-19 pandemic.

The BHP Western Australian Iron Ore (WAIO) engagement is to support a major Wi-Fi rollout across its Yandi operations which will support WAIO’s wider digital transformation strategies.

For Oz Minerals , Aqura will undertake a significant upgrade of its accommodation network, which will provide a high-quality entertainment and communications network at a major site in South Australia.

Chief Executive Officer Travis Young said: “It is very pleasing to see the great work the Aqura team is delivering given these extraordinary times. Our new work with BHP and Oz Minerals is a great reflection of the quality and hard work our team are delivering in the resources sector.”

Aqura has also commenced cooperation with defence training system company Cubic Defence Australia Pty Ltd . The Aqura and Cubic cooperation will support modernisation of wideband communications on defence training facilities.

The Cubic engagement leverages Aqura’s extensive in-house Industrial Wireless skills and capabilities to deliver a 5G ready LTE platform based on 4G frequencies to support Cubic’s advanced field training programs.

“Aqura’s engagement with Cubic is also highly pleasing as it represents growth in a new market vertical and validates the attractiveness of Aqura’s solutions in complementary market segments,” said Mr Young.

Aqura expects to commence engineering works for all 3 projects immediately and will look to ramp up site activity once travel restrictions are eased due to the Coronavirus pandemic.

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Issued by Veris Limited For further information please contact: Veris Corporate Office - Telephone: (08) 9317 0628

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