VYSARN LIMITED — Capital/Financing Update 2020

Mar 9, 2020

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ASX:VYS

10 March 2020

RIG UTILISATION AND COMPANY UPDATE

Following the Half Year Results Presentation[1] Vysarn Limited (ASX: VYS) (Company) provides the following rig utilisation update.

The Company’s wholly owned subsidiary Pentium Hydro Pty Ltd (Pentium) advises that its recent tender to provide drilling services has been successful. Consequently, Pentium’s 7[th] rig suite will be mobilised prior to the end of April.

Additionally, under an existing General Works Contract (GWC) a works request has been received by Pentium. The Company will provide a further update on rig utilisation should the GWC work request result in a purchase order. Receipt of a purchase order would trigger the utilisation of Pentium’s 8[th] rig suite.

Vysarn Managing Director Mr James Clement said:

“In the short time period since its asset acquisition Vysarn’s subsidiary Pentium Hydro continues to quietly achieve growth. Shortly after the Company’s relisting in September 2019, three rigs were deployed, six months later the Company has 75% of the core assets deployed or nearing deployment. Growth has not been limited to rig deployment. Further information can be found in the Half Year Results Presentation”.

The ASX announcement has been authorised for release by the Board of Vysarn Limited.

For further information: James Clement Managing Director Vysarn Limited Telephone: +61 8 9486 7244

Kyla Garic Company Secretary Vysarn Limited Telephone: +61 8 9486 7244

1 Note 1, Refer to Page 9, ASX announcement dated 29 February 2020 - "Vysarn Half Year Results Presentation"

Vysarn Limited | ABN: 41 124 212 175 | ACN: 124 212 175 | 108 Outram St, West Perth, WA 6005 | PO Box 1974, West Perth WA 6872 T +61 (0) 8 9486 7244 | F +61 (0) 8 9463 6373 | E info@vysarn.com.au | vysarn.com.au