Ausdrill : Appendix 3B

Name of entity

Ausdrill Limited

ABN

95 009 211 474

1

+Class of +securities issued or to be issued

Fully paid ordinary shares in the capital of Ausdrill Limited (Ordinary Shares)

2

Number of +securities issued or to be issued (if known) or maximum number which may be issued

27,406 Ordinary Shares

3

Principal terms of the +securities (e.g. if options, exercise price and expiry date; if partly paid

+securities, the amount outstanding and due dates for payment; if +convertible securities, the conversion price and dates for conversion)

The same as the terms of existing Ordinary Shares.

4

Do the +securities rank equally in all respects from the +issue date with an existing +class of quoted

+securities?

If the additional +securities do not rank equally, please state:

• the date from which they do

• the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment

• the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment

Yes

5

Issue price or consideration

"Cashless exercise" of 133,333 Options with an Exercise Price of $1.7025, resulting in the issue of 27,406 Ordinary Shares, pursuant to the 2013 Ausdrill Limited Employee Share Option Plan, the terms of which were announced to ASX on 26 September 2013.

6

Purpose of the issue

(If issued as consideration for the acquisition of assets, clearly identify those assets)

Issued upon exercise of options with an expiry date of 7 October 2018 pursuant to the 2013 Ausdrill Limited Employee Share Option Plan.

6a

Is the entity an +eligible entity that has obtained security holder approval under rule 7.1A?

If Yes, complete sections 6b - 6h in relation to the +securities the subject of this Appendix 3B, and comply with section 6i

No.

6b

The date the security holder resolution under rule 7.1A was passed

N/A

6c

Number of +securities issued without security holder approval under rule 7.1

N/A

6d

Number of +securities issued with security holder approval under rule 7.1A

N/A

6e

Number of +securities issued with security holder approval under rule 7.3, or another specific security holder approval (specify date of meeting)

N/A

6f

Number of +securities issued under an exception in rule 7.2

N/A

6g

If +securities issued under rule 7.1A, was issue price at least 75% of 15 day VWAP as calculated under rule 7.1A.3? Include the

+issue date and both values. Include the source of the VWAP calculation.

N/A

6h

If +securities were issued under rule 7.1A for non-cash consideration, state date on which valuation of consideration was released to ASX Market Announcements

N/A

6i

Calculate the entity's remaining issue capacity under rule 7.1 and rule 7.1A - complete Annexure 1 and release to ASX Market Announcements

N/A

7

+Issue dates

Note: The issue date may be prescribed by ASX (refer to the definition of issue date in rule 19.12). For example, the issue date for a pro rata entitlement issue must comply with the applicable timetable in Appendix 7A.

Cross reference: item 33 of Appendix 3B.

22 September 2017

Number

+Class

8

Number and +class of all

+securities quoted on ASX (including the +securities in section 2 if applicable)

359,433,646

Ordinary Shares.

Number

+Class

2,600,020

Executive Options (exercisable at an exercise price of

$1.7025, with an expiry date of

7 October 2018)

9,900,000

Executive Options (exercisable at an exercise price of

$0.248, with an expiry date of

23 December 2020)