Appendix 3B‌‌‌‌

Rule 2.7, 3.10.3, 3.10.4, 3.10.5

New issue announcement, application for quotation of additional securities‌‌ and agreement‌

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 01/07/96 Origin: Appendix 5 Amended 01/07/98, 01/09/99, 01/07/00, 30/09/01, 11/03/02, 01/01/03, 24/10/05, 01/08/12, 04/03/13

Name of entity

Boart Longyear Limited (Boart Longyear)

ABN

49 123 052 728

We (the entity) give ASX the following information.

Part 1 - All issues

You must complete the relevant sections (attach sheets if there is not enough space).

1

+Class of +securities issued or to be issued

Ordinary Warrants

Ordinary Shares

2

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

  1. 99,655 Ordinary Warrants

  2. 369,563 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)

  1. Prior to any re-domiciliation, each Ordinary Warrant entitles the holder to subscribe for one fully paid ordinary share in Boart Longyear at the Exercise Price.

  2. The Ordinary Shares are issued on the same terms as existing fully paid ordinary shares in Boart Longyear.

The Ordinary Warrants are exercisable by the holder at any time during the Exercise Period (as defined in the Prospectus).

The Exercise Price is A$0.021 per Ordinary Warrant.

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

a) Nil cash consideration for the issue of the Ordinary Warrants.

b) A$7,760.82

(A$0.021 x 369,563 Ordinary Warrants)

6

Purpose of the issue

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

  1. The Ordinary Warrants Issue forms part of Boart Longyear's previously announced recapitalisation proposal. No funds will be raised from the issue of the Ordinary Warrants.

  2. The exercise of 369,563 Ordinary Warrants.

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

Not applicable.

6b

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

Not applicable.

6c

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

Not applicable.

6d

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

Not applicable.

Not applicable.

6e Number of +securities issued with security holder approval under rule 7.3, or another specific security holder approval (specify date of meeting)

Not applicable.

6f Number of +securities issued under an exception in rule 7.2

Not applicable.

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.

Not applicable.

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

Not applicable.

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

  1. 6 October 2017

  2. 13 October 2017

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.

Number

+Class

26,289,795,216

602,739,424

Fully paid ordinary shares

Ordinary Warrants

8 Number and +class of all

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

Number

+Class

3,517,285

324,204

3,034,753

3,034,753

3,034,752

36,938,405

Options expiring 15 March 2024

Options expiring 1 April 2024

Options expiring 19 May 2024

Options expiring 1 April 2025

Options expiring 1 April 2026

Options expiring 26 May 2025

49,884,152

TOTAL OPTIONS

84,832,619

Class A 7% Warrants

43,509,750

Class B 7% Warrants

  1. Number and +class of all

    +securities not quoted on ASX (including the +securities in section 2 if applicable)

    There has been no change to Boart Longyear's dividend policy.

  2. Dividend policy (in the case of a trust, distribution policy) on the increased capital (interests)

Part 2 - Pro rata issue

11

Is security holder approval required?

Not applicable.

12

Is the issue renounceable or non- renounceable?

Not applicable.

13

Ratio in which the +securities will be offered

Not applicable.

14

+Class of +securities to which the offer relates

Not applicable.

15

+Record date to determine entitlements

Not applicable.

16

Will holdings on different registers (or subregisters) be aggregated for calculating entitlements?

Not applicable.

17

Policy for deciding entitlements in relation to fractions

Not applicable.

Boart Longyear Limited published this content on 13 October 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 13 October 2017 16:24:03 UTC.

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