PATRYS LIMITED — Capital/Financing Update 2013

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14 November 2013

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Dear Shareholder

Patrys Limited Share Offers:

• Non-renounceable Rights Issue Offer

• Share Top Up Offer for any shortfall under the Rights Issue

Patrys Limited ( Company ) announced on 13 November 2013 a non-renounceable Rights Issue and Share Top Up Offer to Eligible Shareholders to raise approximately $12.5 million.

Due to the complications associated with extending the offers to overseas jurisdictions, the offer to participate in the Rights Issue and Share Top Up Offer will only be made to shareholders that meet the following two criteria:

• (i) the shareholder is recorded on the register of Patrys at 7.00 p.m. on 25 November 2013 ( Record Date ), and

• (ii) the shareholder resides in Australia, New Zealand or the United Kingdom ( Eligible Shareholder(s) ).

Eligible Shareholders will have the opportunity to participate in the Rights Issue to receive 1 new ordinary share for every 2 ordinary shares held in the Company as of the Record Date and also to apply for additional Patrys shares under the Share Top Up Offer, in each case at an issue price for each new ordinary share of 5 cents. Fractional entitlements will be rounded up to the nearest whole number and the shares issued under the Rights Issue and the Share Top Up Offer will rank equally with the Company's fully paid ordinary shares on issue.

A copy of the announcement is available on the Company's website (www.patrys.com) and also on the ASX Announcement Platform.

The Directors will have the ability to place any remaining shortfall under the Rights Issue in the three months following the close of the issue, subject to compliance with the ASX Listing Rules and the Corporations Act. Azure Capital Limited and BBY Limited are Joint Lead Managers for the Rights Issue.

The Rights Issue and the Share Top Up Offer are to open concurrently to Patrys Eligible Shareholders and details of the timetable are as follows –

Patrys Limited │ ABN: 97 123 055 363 Suite 614, Level 6, Equitable House, 343 Little Collins Street, Melbourne, VIC 3000 Phone: +61 (0) 3 96703273│ Fax: +61 (0) 3 96703247

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• Note: This timetable is indicative only and subject to change. The Company reserves the right to change the dates, including the Closing Date without prior notice, subject to the Listing Rules. Any extension of the Closing Date will have a consequential effect on the anticipated date for allotment and issue of the new shares.

As outlined above, the offer documentation and formal Entitlement and Acceptance form will be mailed to all Eligible Shareholders on or around Wednesday, 27 November 2013. Please consult your stockbroker, solicitor, accountant or other financial adviser if you are in any doubt as to the value of the Rights Issue and Share Top Up Offer.

If you have any questions please do not hesitate to contact Roger McPherson, Company Secretary, on (03) 9670 3273 or [email protected].

We look forward to your continued support.

Yours faithfully,

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John D Read Chairman

Patrys Limited │ ABN: 97 123 055 363 Suite 614, Level 6, Equitable House, 343 Little Collins Street, Melbourne, VIC 3000 Phone: +61 (0) 3 96703273│ Fax: +61 (0) 3 96703247