WESTSTAR INDUSTRIAL LIMITED — Regulatory Filings 2021

Oct 31, 2021

ASX ANNOUNCEMENT

1 November 2021

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SIMPEC has commenced major construction activities on the Iron Bridge Magnetite Wet Processing Plant

Highlights

• SIMPEC’s project team has commenced major construction activities on its newly awarded $145 million contract for the Iron Bridge Magnetite Wet Processing Plant in the Pilbara region of Western Australia.

• SIMPEC has safely mobilised to site as planned and commenced execution.

• Onboarding of staff and craft personnel continues with almost 100 personnel mobilised on the project.

• SIMPEC’s continued growth further strengthens its position as a project and service delivery partner of choice across Australia.

WestStar Industrial Limited ( Company or WestStar ) (ASX: WSI), an Australian industrial services company providing engineering, construction and mining services to the resources, energy, and infrastructure sectors, is pleased to advise its engineering contractor business SIMPEC has commenced major construction activities on the Iron Bridge Magnetite Project Wet Processing Plant. The Project is a joint venture between Fortescue Metals Group subsidiary FMG Magnetite Pty Ltd and Formosa Steel IB Pty Ltd.

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First steel erected and cone sections assembled for the LFCU processing area.

SIMPEC has commenced first steel erection for the development of the new mine and associated infrastructure for Iron Bridge, situated approximately 145km south of the town of Port Hedland in Western Australia’s Pilbara region.

The Wet Processing Plant is a significant part of the new magnetite mine which will be central to the production of 22 Wet Million Tonnes Per Annum (WMTPA) of high grade, magnetite concentrate product.

WestStar Industrial Limited | ABN 38 119 047 693 | weststarindustrial.com.au | Page 1

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SIMPEC is supplying SMP and E&I vertical construction services for the project. This intricate project consists of major module installation, tank installation, major mechanical installation, large bore piping and a significant portion of supply and installation of electrical and instrumentation works.

SIMPEC Managing Director Mark Dimasi noted:

“The commencement of this prestigious project is a major milestone for the team and business. The positive safety culture and experienced project team has allowed for a safe and on time commencement of construction activities for the project.

Facilities, Plant and Equipment have been mobilised to site and the team has a crew of almost 100 personnel on and off-site performing planned construction activities, this is a remarkable achievement.

This is an important milestone achievement for SIMPEC, its proof that our people and culture are building a reputable Company that delivers.

We look forward to further project updates and thank the Iron Bridge Joint Venture for the opportunity to deliver such a high-profile project.

Thank you to the team for their dedication and efforts so far for delivering industry excellence.”

Outlook

SIMPEC continues to develop and strengthen its overall business capability to move further into the Minerals, Gas and Renewables industries throughout Australia. We believe our overall focus on both major projects and term sustaining capital contracts will further enhance SIMPEC’s positioning for FY2022 and beyond.

Tendering and proposals across the Group remains strong, as we consistently deliver projects at a high standard. A well balance portion of the submissions were from both repeat and new clients within the mining and infrastructure, and oil and gas sectors. The results of increased activity and tendering is now delivering positive outcomes for the business.

We look forward to updating the market as these opportunities become successful.

-Ends-

For further information please contact:

Philip Re Robert Spadanuda Chairman Weststar CEO and Managing Director pre@weststarindustrial.com.au robert@weststarindustrial.com.au

Media

David Tasker Chapter One Advisors M: +61 433 112 936 E: dtasker@chapteroneadvisors.com.au

WestStar Industrial Limited | ABN 38 119 047 693 | weststarindustrial.com.au | Page 2

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About WestStar

WestStar Industrial Limited (ASX: WSI) is an industrial, steel fabrication, installation and maintenance services company focussed on the resources, oil and gas, water and infrastructure sectors.

About SIMPEC

SIMPEC delivers high quality construction and engineering services with specialisation in structural mechanical and piping (SMP), electrical and instrumentation (E&I), concrete products and civil Services.

For more information: www.simpec.com.au

About Alltype

Alltype Engineering leverages off its fabrication capability and provides complete project solutions including SMP and E&I site installation, construction and maintenance services, across almost every industry in Australia. Alltype delivers consistent quality products and services that underpin its commitment to its vision “to be recognised as the preferred partner in delivering integrated fabrication, site and maintenance services with reliable, innovative and cost-effective solutions”.

For more information: www.alltypeengineering.com.au

ASX release authorised by the Board of Directors of WestStar Industrial Limited.

WestStar Industrial Limited | ABN 38 119 047 693 | weststarindustrial.com.au | Page 3