VERIS LIMITED — Capital/Financing Update 2022

May 4, 2022

ASX / MEDIA RELEASE – VRS

5 May 2022

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Veris awarded $2.4 million pipeline survey works in WA

• Veris awarded over $2.4 million pipeline infrastructure project in Northern Goldfields region of WA

• Scope of services includes Drafting, GIS, Survey, Locating and Data Management

• Brings recently secured workload in pipeline infrastructure to approximately $9 million to be delivered in CY22

Veris Limited (ASX: VRS) is pleased to announce that wholly owned subsidiary Veris Australia, a leading provider of spatial data services, has been awarded another contract to provide surveying services for pipeline infrastructure works in Western Australia, bringing the combined value of recently secured workload in pipelines to approximately $9 million to be delivered across the 2022 calendar year.

The latest contract award, for the construction of the Northern Goldfields Interconnect (NGI) pipeline in Western Australia, is expected to generate approximately $2.4 million in revenue for Veris Australia over a 10-month duration. The scope of services to be delivered for pipeline and energy infrastructure constructor NACAP includes Drafting, GIS, Survey, Locating and Data Management. Early-stage project works commenced in March 2022.

The contract award follows several other contract wins for pipeline infrastructure related projects across Australia as announced previously.

The NGI pipeline involves the construction of a new buried pipeline, approximately 580 kilometres long, commencing at Ambania, approximately 50 kilometres east of Geraldton, connecting into the existing Goldfields Gas Pipeline (GGP), approximately 40 kilometres south of Leinster. The project will initially include compression at the inlet, with associated aboveground facilities located along the route of the pipeline. Leading Australian energy infrastructure business APA Group is developing the new gas transmission pipeline, connecting new and existing gas provinces to existing gas pipeline infrastructure in the Northern Goldfields region of Western Australia.

Outlook

Veris Australia’s secured forward workload has continued to grow and is now in excess of $50 million to be executed over the next 12 months. In addition, Veris Australia maintains a healthy, unsecured project pipeline which continues to grow and has a weighted value of ~$190 million over the next 24 months.

Michael Shirley, Chief Executive Officer, Veris Australia commented:

“We’re really pleased to once again be working with NACAP, a client that we have successfully delivered for on pipeline projects previously, to support the delivery of APA Group’s NGI pipeline, a new and significant gas pipeline infrastructure project for Western Australia.

“We continue to demonstrate our strength in the delivery of pipeline surveys and spatial data services and are building a considerable portfolio of projects in this space, with a secured workload in pipeline infrastructure of approximately $9 million to be delivered this calendar year.

“It’s encouraging to be delivering value for our clients through not only our core surveying business but also our Digital & Spatial service line where we can apply the latest technology and platforms including GIS solutions.”

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Corporate

WA 6017

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About Veris Limited

Veris Limited is the holding company that is listed on the ASX under the code VRS.

Veris Australia is Australia’s leading provider of spatial data services across the infrastructure, property, resources, defence, utilities and government sectors. Veris Australia provides an end-to-end spatial data solution for its clients that not only includes data collection, analysis, interpretation but also data hosting and access, modelling, sharing and insights for clients with large-scale data requirements.

Authorised for release by the Board of Veris Limited.

Issued by Veris Limited For further information please contact: Veris Corporate Office - Telephone: (08) 9317 0600

Corporate

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