WESTSTAR INDUSTRIAL LIMITED — Capital/Financing Update 2019

Apr 30, 2019

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WestStar Awarded $10M Contract at Fortescue’s Eliwana Mine

Highlights:

ASX Release

• WestStar business SIMPEC Pty Ltd has been awarded a ~$10M contract by ATCO Structures and Logistics

1 May 2019 by ATCO Structures and Logistics • Under the contract, SIMPEC will supply and install the Electrical, WESTSTAR Communications and Dry fire systems for an 800-room Mine camp at INDUSTRIAL LIMITED Fortescue Metals Group’s Eliwana mine site in the Pilbara, Western ACN 119 047 693 Australia; • WestStar has now been awarded ~$43M of contracts during YTD FY19 Suite 1 437 Roberts Road WestStar Industrial Limited (“WestStar” or “the Company”) is pleased to advise its Subiaco, WA, 8008 engineering contractor business SIMPEC Pty Ltd (“SIMPEC”) has been awarded a key contract by ATCO Structures and Logistics (“ATCO”) in the construction of a Tel: +61 8 9466 9018 Fax: +61 8 9381 1122 800-room camp at Fortescue’s Eliwana iron ore mine in the Pilbara region of Western Australia.

The ~$10 million contract commences in mid-2019 and represents SIMPEC’s largest single contract award to date.

Contact: Philip Re The Permanent Camp Project (the “Camp”) Bert Mondello SIMPEC’s scope of work is to design, supply, construct, test, commission the Directors: electrical, communications and dry fire systems of the 800-room mine camp. The Lay Ann Ong Camp will be delivered over a 9-month duration. Bert Mondello Philip Re The Camp will be used in the major development project at Fortescue’s new Eliwana Mine. To be involved in the construction of a key element of the Eliwana Secretary: mine development for Fortescue is a significant milestone for SIMPEC. This is Derek Hall SIMPEC’s first contract on a Fortescue project. Issued Capital: The award builds on the portfolio of camp work packages successfully undertaken 615,754,616 shares by SIMPEC, specifically the camp works completed at Iluka Resources’ Cataby Iron Sands Project and the works currently underway for Rio Tinto’s West Angelas ASX Symbol: project. WSI SIMPEC Managing Director Mark Dimasi noted:

“To see the fruits of the concerted effort during the Fortescue Eliwana tender phase is very rewarding for the team. This Tier one project award is a significant achievement for SIMPEC allowing the Company to construct alongside some of Australia’s biggest construction companies. This is another commendable accomplishment with ATCO, well-done team.”

Suite 1, 437 Roberts Road, Subiaco, WA, 6008 www.weststarindustrial.com.au

WESTSTAR INDUSTRIAL LIMITED ASX ANNOUNCEMENT

May 2019

Outlook

This award ensures that SIMPEC has a presence across each of the new significant iron ore development projects in Western Australia. With this award, WestStar has been awarded ~$43M of contracts during YTD FY19. SIMPEC’s capabilities are being duly recognised with contract awards and it has submitted further tenders for more than $150 million of work yet to be awarded.

For further information please contact:

Philip Re Non-Executive Director pre@regencypartners.com.au

Bert Mondello

Non-Executive Director bmondello@regencycorporate.com.au

About WestStar

WestStar Industrial Limited (ASX: WSI) is an Australian industrial conglomerate with a unique offering comprised of three specialist operating businesses: Precast Australia Pty Ltd (concrete fabrication) SIMPEC Pty Ltd (construction contractor) and Distinct Developments (property developer).

About SIMPEC

SIMPEC Pty Ltd is a construction contractor with specialist experience in both Structural, Mechanical and Piping (SMP), and Electrical and Instrumentation (E&I) works. SIMPEC’s core capabilities provide clients with a fully integrated solution with its key personnel having multi-disciplined experience from design, fabrication, site installation, commissioning and asset management services, providing skills to deliver projects for all infrastructure, energy, mining, and oil and gas projects.

Suite 1, 437 Roberts Road, Subiaco, WA, 8008 www.weststarindustrial.com.au