WISR LIMITED — M&A Activity 2013

Jan 31, 2013

MANUFACTURERS OF AUTOMOTIVE EXHAUST SYSTEMS AND PARTS

1 February 2013

Company Announcements Office Australian Stock Exchange Limited Level 4, 20 Bridge Street SYDNEY NSW 2000

BERKLEE LIMITED (ASX CODE: BER). Notification of withdrawl of Indicative Non-Binding Takeover Proposal

Berklee had previously advised Shareholders on 18 October 2012 of a Proposal received from a "Bid Group" associated with Mr. Rick van Berkel, a non executive director of the Company, to acquire all the shares in Berklee not held by the "Bid Group". The Proposal was incomplete, non-binding and subject to a number of conditions including finance and due diligence.

Berklee has now received formal advice from the "Bid Group" that it has withdrawn their Indicative Non-Binding Proposal. The reasons given were that several of the conditions have not been met, specifically that they have not been able to raise the finance to acquire the shares and that the financial performance of the Company continues to deteriorate.

Your Board now has no alternative but to seriously consider the on-going viability of the Company's business in these extremely difficult times for locally manufactured auto industry suppliers.

We can also advise that we are now in receipt of a "Proposal" from Mr. Brett Jones, the Company's Managing Director and Company Secretary, to takeover the supply and distribution of the Berklee product, intellectual property and exhaust inventory. The terms of this "Proposal" are still subject to negotiation.

If the Company(via its Chairman) is not in receipt of any other "Proposal(s)" by the close of business on Friday 15 February 2013 a sub-committee, consisting of non-conflicted directors, will negotiate exclusively with Mr. Jones.

Until such resolution of these matters, shareholders do not need to take any action in relation to these developments.

Signed Alan Beckett Chairman