XRF SCIENTIFIC LIMITED — Capital/Financing Update 2013

Jul 3, 2013

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4 July 2013

Kitco Labware Acquisition Update

Further to the initial announcement made on 26 June 2013, XRF Scientific Ltd (“XRF” or “The Company”) is pleased to announce that it has now executed a binding but conditional Asset Purchase Agreement to acquire the business of Kitco Labware, a division of Kitco Metals Inc.

As Kitco Metals Inc. is operating subject to the Companies’ Creditors Arrangement Act (Canada), an order has been sought and obtained from the Superior Court of Quebec, authorising the execution of the Asset Purchase Agreement and the completion of the transaction. It is expected that the acquisition will be completed by 31 July 2013, subject to certain conditions precedent being met.

Key Acquisition Benefits

• A low‐risk, bolt‐on acquisition within XRF’s core technical, operational, financial and management competencies

• Broader access to key markets in the Americas and a strengthening of XRF’s distribution and customer network

• Diversification of revenue from mining into other industries such as cement, soil‐analysis and petro chemicals

• The business has professional, multi‐lingual and experienced employees, to support XRF’s international expansion strategy

• Enables expansion into key markets without having to establish far more expensive and administrative overheads using Australian staff

• Geographical expansion into Latin America, and

• Provides a significant new and expanded customer database

Acquisition Price

The consideration for the acquisition will be as follows:

• CAD$1.7m cash on settlement

• An additional CAD$300,000 in cash consideration, should the business generate EBITDA of CAD$500,000 in the period of 12 months from settlement

• A further CAD$300,000 in cash consideration (pro‐rata), should the business generate an EBITDA result of between CAD$500,000 and CAD$650,000 in the period of 12 months from settlement

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The acquisition will be funded from XRF’s existing cash reserves. In the last financial year the business generated EBITDA of $0.4m, and therefore it is expected that the acquisition will be EPS accretive.

Please direct any inquiries to:

Vance Stazzonelli Chief Executive Officer

vance.stazzonelli@xrfscientific.com +61 8 9244 0600

About Kitco Labware

Kitco Labware is a supplier of platinum labware and precious engineered products, from its office in Montreal, Canada. The business was founded in 2002 and currently has sales into Canada, USA and Latin America. It has a diverse customer base that operates in industries such as cement, soil analysis, mining and petrochemicals.

XRF is currently a supplier to Kitco Labware, having provided fusion platinum labware products to the business since it was founded.

About XRF Scientific:

XRF Scientific Limited is an Australian listed company (ASX: XRF) based in Perth, Western Australia. XRF manufactures equipment and chemicals, which are distributed to production mines and commercial analytical laboratories in Australia and overseas and used in the preparation of samples for analysis.

XRF has manufacturing, sales and support facilities located in Perth and Melbourne plus a global network of distributors. The Company has representation in the United States, South America, Canada, Europe, Africa, the Middle East and Asia and has a customer base that includes multinational blue‐chip customers such as:‐ BHP Billiton, Rio Tinto, Vale, Iluka, Xstrata, Nickel West, Robe River Iron Associates, Alcoa, CSIRO, Intertek, PT Inco, Pilbara Iron, Bureau Veritas, SGS and ALS.

XRF’s technology is used to measure the composition and purity of materials and is mainly applied in industrial quality control and in process control for manufacturing processes in industries such as metals and mining, construction materials, chemicals and petrochemicals.

XRF products help customers to improve product quality and performance, increase productivity and yield and reduce downtime and waste. Its businesses have established positions in their specialised markets.

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