Investor UpdateDecember 2016

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Disclaimer

2

A lot has happened in the last year:

– Acquisition of Bachmann Plant Hire

– Acquisition of SubZero (now MRS Services Group)

– Consulting business closed

– Loss making contracts terminated

– Former CEO and head office staff removed from the group

– New board members

– New equity and debt finance secured

Introduction

3

Consulting Division closed down during November 2016

Cost reduction $1.5m p.a.

PEAL contract (Papua New Guinea)

– Fuel farm facility for airstrip

– Net outstanding to MRS approximately $2.5m

Aiotec (New South Wales)

– Polypropylene Plant decommissioning

– Net outstanding to MRS approximately $3.8m

Both contracts terminated and in dispute

Low likelihood of recovery but no further cost being incurred

Former Consulting Division

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MRS Today

– Bachmann Plant Hire

• Bulk earthworks provider

• Greater Brisbane Area growth corridor

• Clients include BMD Group, Pensar Civil, Katala Constructions, GW Civil Contracting, Mcllwain Civil

– MRS Services Group

• Mining Services

• Hunter Valley mining cluster

• Clients include Rio Tinto, BHP Billiton and Glencore

MRS Going Forward

5

Joe Clayton – Chief Executive Officer

40 years experience in mining and 22 years leading mining operations

Qualified Mining Engineer, Graduate Australian Institute of Company Directors, Fellow ofAustralian Institute of Mining and Metallurgy and Chartered Professional in Management

Mining career:

– 1976 to 1993 Coal Mining Operations

– 1993 to 2004 GM and Project Director of Contract Mining Operations

– 2004 to 2012 GM, Project Director, Country Manager of Mines and Developments

– 2012 to present Mining Services CEO and Executive Directorships

Successfully implemented major change management programs at some of the mostchallenging mining operations in South East Asia.

CEO of SubZero Group through a restructure of the business with continuous positive trading inReceivership to a successful sale to MRS.

Murray d’Almeida – Chairman

Over 35 years national and international business experience

Qualified Accountant and Fellow of Australian Institute of Company Directors

Founded ASX listed RFG in Australia and grew it to over 300 branches across seven countries

Significant ASX and AIM experience on 13 Boards

Extensive Government and NFP experience

Board of Directors

6

Timothy Jones – Finance Director

Almost 40 years experience in the oil and gas industry

Qualified Chartered Accountant

Extensive Public Company experience.

Chris Berkefeld

40 years experience in civil, mining and industrial services

Currently on the boards of Wagner Group, Hiway Group, Tellus Holdings Ltd and HSE Mining,all companies associated with mining and civil operations.

Formerly 25 years with Brambles Industries Ltd in logistics, industrial services and wastemanagement including 5 years as Executive Director Brambles Europe and 6 years ManagingDirector and CEO of BISCleanaway.

Former Deputy Executive General Manager of Leighton Mining

Board of Directors

7

Acquired February 2016

Located in Ipswich, near Brisbane, QLD.

The highest population growth area in Australia through the “Economic Development Plan for Ipswich”, a government led drive to attract 235,000 new residents by 2031

Bulk earthworks provider to residential subdivision developers and public authorities

Current construction estimated at 500 new homes per month, with supporting retail, industrial, education and medical construction following suit.

Bachmann Plant Hire

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Bachmann: Operations Area

9

Bachmann: Revenue split by client

10

Founded in 1999, acquired October 2016

Provides a range of mining and resources services, primarily to the largest mining companies, including:

– Maintenance support: heavy engineering, fabrication, machining and maintenance/repair servicing

– Mining support: mine rehabilitation, water reticulation, bulk earthworks, equipment hire, on site civil works

– Labour support: operators, tradesmen, white collar

Based in Muswellbrook, the heart of the Hunter Valley mining area, with:

– Broadest service offering

– Largest services group

– Largest off-site workshop in NSW

– Cranage support providing a unique competitive advantage.

The Hunter Valley exports 150Mt of coal pa through Port of Newcastle

Upturn in business as a result of the significant upturn in the price of thermal coal over the last six months

Recently moved premises achieving significant reduction in rental cost

MRS Services Group

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12

MRS SG: Operations Area

13

Fabrication Mechanical Mining Labour

MRS SG: Revenue split by client and service

14

RIO Tinto44%

Glencore28%

BHP Billiton21%

BengallaMining

3%

Other4%

Mining32%

Fabrication31%

Mechanical25%

Automotive6%

Industrial Services

3%

Lineboring 3%

Coal Price Thematic

15Source: Index Mundi November 2016

Newcastle thermal coal

FOB total cash costs 2015

16Source: Wood Mackenzie – Coal costs benchmarking tool – January 2015

Clients highlighted

20% increase in contract labour since Jan 2015

Glencore / JPU contract USD$94.75/t

Bachmann

– Turnover approximately $26.33m

– EBITDA approximately $2.17m

SubZero (normalised)

– Turnover approximately $63.71m, businesses purchased $43.71

– Operating EBITDA approximately $3.08

Audit work still being finalised, target publication early January 2017.

Note: the figures above are unaudited and extracted from the management accounts of the two businesses. The audited accounts to 30 June 2016 will include losses and provisions for the former consulting business plus head office and non-recurring exceptional costs and will not show a contribution from MRS Services Group which was acquired after the year end.

Financial Expectations for FY16

17

4. Recommendations

18

Majority of forecast revenue for FY17 and FY18 subject to a contract or closed book/panel of suppliers. Where no contracts are in place, the revenue forecast is generally PO based.

Bachmann plant hire sales are subject to purchase orders, whilst there are contracts in place for Contract Jobs. As the typical contract job is a 3 month term, 30% of forecast FY17 Contract Jobs are secured. Due to the short term nature of Contract Jobs, FY18 contracts will be up for tender late FY17, therefore all of FY18 Contract Jobs are currently unsecured.

76%

20%

64%

24%

80%

36%

100%

–

10,000,000

20,000,000

30,000,000

40,000,000

50,000,000

60,000,000

FY17 (MRSSG) FY17 (BPH) FY18 (MRSSG) FY18 (BPH)

Secured Unsecured

Contracted Revenue

Shareholders on resumption of trading:

– Paul Morffew (former CEO) entities 19.8%

– Macquarie Bank 8.8%

– Bachmann Vendors 7.5%

– August 2016 placees (aggregate) 34.8%

– Daniella Athan 5.5%

Major Creditors

– Westpac - $15.8m

– Hermes Capital - $6m

Stakeholders

19

To be the provider of choice for

mining and civil services solutions.

Implementation:

Accretive growth through current opportunities

Cross sell solutions across the current geographic coverage with existing and new clients

JV and strategic alliance opportunities

Compatible acquisitions

Vision

20

Regular charitable donations

Apprenticeship Training

JV with Indigenous business

Assisting with local council graffiti clean up

Workforce support of fundraisers for Breast Cancer and Prostate Cancer

Social License

21

For further information contact:

Joe Clayton

Chief Executive Officer

joe.clayton@mrsplc.net

+61 437 763 477