Veris : 31 Dec 2021 Half Year Accounts

For personal use only

Veris Limited

31 December 2021

Interim Financial Report

Contents

only	Directors' report
	Condensed consolidated statement of financial position
use	Condensed consolidated statement of profit or loss and comprehensive
income
Condensed consolidated statement of changes in equity
	Condensed consolidated statement of cash flows
	Basis of Preparation
personalFor	Notes to the condensed consolidated interim financial statements
Directors' declaration
	Independent auditor's report on review of condensed consolidated interim
	financial
	Lead auditor's independence declaration
	Corporate information

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Veris Limited Interim Financial Report	Page 2
December 2021	VERIS.COM.AU

For personal use only

Directors' Report

The directors of Veris Limited (the "Company" or "Veris") present their report together with the consolidated financial statements of the group comprising Veris Limited and its controlled entities (together referred to as "the Group"), for the six months ended 31 December 2021 and the independent review report thereon.

DIRECTORS

The directors of the Company at any time during or since the end of the interim period are:

Name	Role	Period of Directorship
Karl Paganin	Independent Non-Executive Chairman	Appointed 25 November 2019
	Non-Executive Director	Appointed 19 October 2015
Brian Elton	Non-Executive Director	Appointed 21 November 2019
Adam Lamond	Non-Executive Director	Appointed 1 December 2020
David Murray	Independent Non-Executive Director	Appointed 1 June 2021

Karl Paganin | Independent Non-Executive Chairman

Experience

Mr Karl Paganin has over 15 years senior experience in Investment Banking, specialising in transaction structuring, equity capital markets, mergers and acquisitions and strategic management advice to listed companies. He has been a director of various ASX listed companies over the past 6 years.

Mr Paganin practised with major national law firms and was then appointed as Senior Legal Counsel at the newly formed family company of the Holmes a Court family, Heytesbury Holdings, where he spent 11 years. His roles varied from Senior Legal Counsel to Director of Major Projects, a role which involved having conduct of all major transactions within the Group.

Subsequent to Heytesbury, Mr Paganin spent 15 years as a senior investment banker in Perth. In 2002, he joined the Perth based Euroz Securities and established its Corporate Finance department. Then, in 2010, he established and was Managing Director of GMP Australia Pty Ltd, an affiliate of a Canadian resources focussed specialist investment bank.

Mr Paganin is currently Non-Executive Director of ASX listed Southern Cross Electrical Engineering Limited.

Mr Paganin holds degrees in Law (B.Juris, LLB) and Arts (BA) from the University of Western Australia.

Special Responsibilities

Member of the Remuneration and Nomination Committee (appointed 24 June 2020) Member of the Audit and Risk Committee

Other Listed Company Directorships in last 3 years

Southern Cross Electrical Engineering Ltd (June 2015 - current)

Poseidon Nickel Limited (1 October 2018 - 30 June 2020)

Interests in Shares of Veris Limited

16,617,921 fully paid ordinary shares

Veris Limited Interim Financial Report	Page 3
December 2021	VERIS.COM.AU

For personal use only

Directors' Report

Brian Elton | Non-Executive Director

Experience

Mr Brian Elton is the founder of Elton Consulting and a Strategic Advisor to WSP. Mr Elton joined the Veris Board as Executive Director in March 2018 when this business was acquired by Veris. Subsequent to the sale of Elton Consulting in November 2019, Mr Elton became a Non-Executive Director.He has extensive experience in growing a highly commercially successful professional services business, and in-depth knowledge of east coast development and infrastructure sectors. He has an extensive network of contacts and clients in government, the not-for-profit sector and Tier 1 private sector organisations, and is well regarded and trusted by clients.

Mr Elton has over 40 years of experience in urban and regional planning in the UK and Australia focusing on urban strategy, urban policy and governance and the delivery of major projects. He founded Elton Consulting 30 years ago.

Mr Elton is a Fellow of the Planning Institute of Australia and a Member of the Australian Institute of Company Directors. His affiliations include the International Association of Public Participation, Green Building Council of Australia and the Urban Development Institute of Australia.

Special Responsibilities

Chairman of the Remuneration and Nomination Committee (appointed 24 June 2020) Member of the Audit and Risk Committee (until 30 June 2021)

Member of the HSEQ Committee

Other Company Directorships in last 3 years

EMFOX Pty Ltd (July 2021 - current)

Interests in Shares of Veris Limited

38,018,161 fully paid ordinary shares

Adam Lamond | Non-Executive Director

Experience

Mr Adam Lamond has over 25 years' commercial experience with particular expertise in construction and infrastructure activities across Australia.

Mr Lamond founded Ocean to Outback Electrical (OTOE) in 2003, a WA-based contracting business servicing the mining industry and the forerunner to Veris Limited. Mr Lamond engineered a reverse takeover of ASX listed company Emerson Stewart Group in 2011 resulting in the listing of Ocean to Outback Contracting (OTOC) Limited.

Mr Lamond held the position of Chief Executive Officer of OTOC Limited from 2011 to 2014. Mr Lamond then held the position of Executive Director - Business Development from 2014 to 2017, after which time he was appointed Managing Director of the newly branded Veris Limited until 2 April 2020.

Special Responsibilities

Member of the HSEQ Committee

Interests in Shares of Veris Limited

48,591,815 fully paid ordinary shares

Veris Limited Interim Financial Report	Page 4
December 2021	VERIS.COM.AU

For personal use only

Directors' Report

David Murray | Independent Non-Executive Director

Experience

Mr David Murray has over 40 years' experience in professional services, providing a unique combination of global, regional, commercial and industry skills to the Veris Board. Mr Murray was a Deloitte Australia Partner for 26 years incorporating leadership roles across the business including the National Executive, Business Unit Leader, Papua New Guinea Office Managing Partner and other National leadership roles and responsibilities.

Mr Murray is currently a Board member of a global insurance entity. He also Chairs the Audit and Risk Committee of that entity. He is also Deputy Chair of a local not-for-profit organisation. Mr Murray is a member of the Institute of Chartered Accountants Australia & New Zealand and a Member of the Australian Institute of Company Directors.

Special Responsibilities

Chairman of the Audit and Risk Committee (Appointed 1 June 2021)

Interests in Shares of Veris Limited

2,000,000 fully paid ordinary shares

PRINCIPAL ACTIVITIES

Veris Limited is the Group's holding company that is listed on the ASX under the code VRS.

Veris Limited has two operating subsidiaries:

• Veris Australia - is a spatial data business that offers a range of professional and data services spanning the surveying, digital & spatial, town planning & urban design disciplines throughout Australia; and
• Aqura Technologies - is an innovative technology services and product development business offering leading edge telecommunications infrastructure to a range of industries nationwide.

Both Veris Australia and Aqura operate in the following sectors throughout Australia:

• infrastructure;
• property;
• energy;
• mining and resources;
• defence;
• utilities; and
• government.

Veris Australia

Veris Australia is Australia's leading provider of spatial data services across the infrastructure, property, resources,defence, utilities and government sectors.Veris Australia provides an end-to-end spatial data solution for its clients that not only includes data collection, analysis, interpretation but also data hosting and access, modelling, sharing and insights for clients with large-scale data requirements.

Veris Limited Interim Financial Report	Page 5
December 2021	VERIS.COM.AU