Updated Statement of Financial Position

19 December 2016

UPDATED PRO FORMA STATEMENT OF FINANCIAL POSITION The following is an updated statement of financial position for Ausnet Financial Services Limited (formerly Namibian Copper Limited) (the Company) based on actual funds raised $5,800,000 under the prospectus issued by the Company dated 29 July 2016 and updated for 30 June 2016 balances: Unaudited Pro Forma Actual Actual After Acquisition 30 June 2016 30 June 2016 and Capital Ausnet Company Raising $ $ $ Current assets Cash and cash equivalents 153,978 583,146 6,189,124 Trade and other receivables 1,092,550 17,724 1,110,274 Other current assets – 3,679 3,679

Total current assets 1,246,528 604,549 7,303,077 Non-current assets Property, plant and equipment 22,613 – 22,613 Deferred tax assets 346,821 – 346,821

Total non-current assets 369,434 – 369,434

Total assets 1,615,962 604,549 7,672,511

Current liabilities Trade and other payables 2,060,905 149,611 2,174,516 Borrowings 449,473 – 449,473 Provisions 441,693 – 441,693

Total current liabilities 2,952,071 149,611 3,065,682 Non-current liabilities Provisions 94,371 – 94,371

Total non-current liabilities 94,371 – 94,371

Total liabilities 3,046,442 149,611 3,160,053

Net assets (1,430,480) 454,938 4,512,458

Equity Issued capital 2,509,890 8,203,866 9,129,169 Reserves – 8,021 – Accumulated losses (3,940,370) (7,740,444) (3,940,370) Less: Corporate transaction accounting expense – – (676,341) Non-controlling interest – (16,505) –

Total equity (1,430,480) 454,938 4,512,458

Jay Stephenson COMPANY SECRETARY Ausnet Financial Services Limited ABN 118 913 232 Registered Office Suite 12, Level 1, 11 Ventnor Avenue PO Box 52, West Perth WA 6872 Tel: +61 8 6141 3500 | Fax: + 61 8 6141 3599