AJ Lucas : Cleansing Statement



2 November 2016

AJ Lucas Group Limited ABN: 12 060 309 104

1 Elizabeth Plaza North Sydney NSW 2060

PO Box 538

North Sydney NSW 2059

T [phone] F [phone]

www.lucas.com.au

The Manager ASX Limited Exchange Centre 20 Bridge Street Sydney NSW 2000

Via electronic lodgement

Dear Sir/Madam

Cleansing Notice under section 708A(5)(e) of the Corporations Act 2001 (Cth)

This notice is given by AJ Lucas Group Limited (ACN 060 309 104) (ASX Code: AJL) ("AJL") under section 708A(5)(e) of the Corporations Act 2001 (Cth) (the "Act").

AJL has today issued 9,000,000 fully paid ordinary shares in AJL ("Tranche B Shares") pursuant to a Share Subscription Agreement between AJL and funds managed by OCP Asia (Singapore) Pte. Limited (OCP) dated 22 June 2016 in connection with the financing arrangements with OCP announced to the ASX on 16 May 2016 and 23 June 2016 (the "Facility"). In addition, AJL has today issued 402,000 fully paid ordinary shares in AJL to Kaufman Blair Associates (the "Adviser Fee Shares", and together with the Tranche B Shares, the "Subscription Shares") in consideration for corporate advisory services in connection with the Facility.

AJL confirms that:

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

2. this notice is being given under section 708(5)(e) of the Act;

3. as at the date of this notice, AJL has complied with:

4. the provisions of Chapter 2M of the Act as they apply to AJL; and

5. section 674 of the Act; and

6. as at the date of this notice, there is no "excluded information" of the type referred to in sections 708A(7) and 708A(8) of the Act that is required to be set out in this notice.

7. Yours sincerely

   Marcin Swierkowski

   Company Secretary

   AJ Lucas Group Limited