VERIS LIMITED — Earnings Release 2016

Jan 31, 2016

ASX/NEWS RELEASE – OTC

1 February 2016

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OTOC EARNINGS GUIDANCE

Highlights

• 1H FY2016 EBITDA over $8.0 million

• Cash $10.0 million at 31 December 2015

• Net debt $3.5 million at 31 December 2015

OTOC Limited (ASX: OTC) is pleased to provide earnings guidance for the six months ended 31 December 2015 (1H FY2016).

Based on unaudited management accounts, OTOC expects to report 1H FY2016 earnings before interest tax and depreciation (EBITDA) of over $8.0 million. This guidance is subject to audit review. OTOC’s audited financial accounts are expected to be finalised in late February 2016.

Anticipated EBITDA for 1H FY2016 is a significant improvement over the prior corresponding period (1H FY2015 Underlying EBITDA: $0.9 million) and the full financial year ended 30 June 2015 (FY2015 Underlying EBITDA: $4.3 million).

OTOC retains a strong balance sheet, with cash of $10.0 million and net debt of $3.5 million at 31 December 2015.

OTOC continues to assess acquisition opportunities to enhance its national Surveying, Town Planning and Urban Design business.

OTOC Chief Executive Officer Simon Thomas said:

“These strong results provide validation of the dual approach taken by the Company; establishing a national professional services business with sustainable growth; and broadening the focus of our infrastructure division to mitigate the resources sector downturn.

Our Surveying, Town Planning and Urban Design division continues to perform well, benefiting from growth in the property and civil infrastructure sectors on the East Coast of Australia. Our investments in Victoria, New South Wales and Queensland have ensured solid earnings growth despite soft market conditions in Western Australia. We continue to monitor and assess acquisition opportunities to consolidate this highly fragmented sector.

OTOC Australia’s disciplined approach to project execution and evaluation, ongoing civil infrastructure work at Nauru Island and reduced cost base has resulted in a marked improvement in EBITDA and provides confidence for the remainder of FY 2016.”

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ENDS

About OTOC

OTOC Limited offers surveying, planning and infrastructure 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 offers surveying services across land development, infrastructure and engineering surveying, aerial mapping, laser scanning, town planning and urban design.

OTOC provides non process infrastructure construction and maintenance services to clients covering government, resources, utilities, remote area and renewable energy.

For further information please contact

Corporate Office OTOC Limited Tel (08) 9317 0628

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