Quickstep : Completion of Placement

ASX/Media Release: 13 March 2019

Market Announcements Office

ASX Limited

Exchange Centre 20 Bridge Street SYDNEY NSW 2000

ISSUE OF PLACEMENT SHARES, DISCLOSURES UNDER LISTING RULE 7.1A AND

CLEANSING NOTICE

Quickstep Holdings Limited (ASX: QHL) (Quickstep) is pleased to advise that further to the announcement of 7 March 2019, it has now issued a total of 125,000,000 fully paid ordinary shares (Shares) at an issue price of $0.085 per share by way of a placement to institutional and sophisticated investors (Placement). Further details in relation to the Shares are set out in the Appendix 3B released to ASX today.

68,597,169 Shares were issued under Quickstep's 15% placement capacity under Listing Rule 7.1. The remaining 56,402,831 Shares were issued under Quickstep's additional 10% placement capacity under Listing Rule 7.1A.

Disclosures required under Listing Rules 7.1A.4(b) and 3.10.5A

Quickstep provides the following information as required under Listing Rules 7.1A.4(b) and 3.10.5A in respect of the Shares issued under the Company's 10% Listing Rule 7.1A placement capacity:

a. The shares issued under Listing Rule 7.1A (together with those issued under Listing Rule 7.1) result in the following dilution to existing holders of ordinary shares:

• b. The Placement has broadened Quickstep's shareholder base and has introduced new institutional shareholders to the register. In this instance, a placement was considered to be the most efficient method of raising additional capital without the uncertainty created by the additional time period required under a pro rata issue to shareholders, and additionally it enabled Quickstep to seek to introduce new institutional investors to the shareholder base. However, in addition to the Placement, the Company is offering all eligible shareholders the opportunity to acquire additional shares under a share purchase plan (as announced to ASX on 7 March 2019) (SPP) at the same price as under the Placement.

• c. There were no underwriting arrangements in relation to the Placement and the SPP is not underwritten.

• d. Curran & Co. acted as Sole Book Runner and Lead Manager to the Placement for a fee of 5% of the funds raised (excluding GST). Quickstep also incurred incidental fees and costs in connection with the Placement of approximately $3,000.

ASX Code: QHL

Notice under section 708A of the Corporations Act 2001 (Cth) (Act)

In relation to the 125,000,000 Shares issued pursuant to the Placement, Quickstep hereby notifies ASX that:

• 1. Quickstep issued the Shares without disclosure to investors under Part 6D.2 of the Act;

• 2. this notice is given by Quickstep under paragraph 708A(5)(e) of the Act;

• 3. as at the date of this notice, Quickstep has complied with the provisions of Chapter 2M of the Act as they apply to Quickstep, and section 674 of the Act; and

• 4. as at the date of this notice, there is no excluded information of the type referred to in subsections 708A(7) and (8) of the Act.

Signed for and on behalf of Quickstep

Jaime Pinto

Company Secretary

‐ENDS‐

About Quickstep Holdings

Quickstep Holdings Limited (ASX: QHL) is the largest independent aerospace‐grade advanced composite manufacturer in Australia, operating from state‐of‐the‐art aerospace manufacturing facilities at Bankstown Airport in Sydney, NSW and a manufacturing and R&D/ process development centre in Geelong, Victoria. The group employs more than 200 people in Australia and internationally. Quickstep is partnering with some of the world's largest aerospace / defence organisations including Lockheed Martin (US), Northrop Grumman (US), Boeing Defense (US) and BAE Systems (UK), as well as Victorian‐based Marand Precision Engineering. Quickstep is currently working on new opportunities with a number of additional companies including General Atomics (US). More information about Quickstep is available atwww.quickstep.com.au

For further information:

Quickstep Holdings Limited ‐ ACN: 096 268 156, ABN: 55 096 268 156