Confirmation Statements

19 December 2016

                                                  CONFIRMATIONS
Ausnet Financial Services Limited (formerly Namibian Copper Limited) (the Company) provides the following
confirmations to satisfy conditions for reinstatement of the Company’s securities to quotation on ASX.

1.   Equity Issues
     The Company confirms that it has issued:
     1.1 290,000,000 fully paid shares in the issued capital of the Company (Shares) at an issue price of $0.02 per
         Share (Public Offer); (ASX Ref 1.2.1)
     1.2 200,000,000 Vendor Shares at a deemed issue price of $0.02 per share; (ASX Ref 1.2.2)
     1.3 66,666,667 performance shares to the vendors of Ausnet Estate Services Pty Ltd (Ausnet) (Vendor Offer);
           (ASX Ref 1.2.3)

     1.4 46,666,667 performance shares to proposed and continuing directors of the Company (Incentive
         Performance Shares); (ASX Ref 1.2.4)
     1.5 5,000,000 options with an exercise price of $0.15 and an expiry date of 30 April 2019 to the Adviser; (ASX Ref
           1.2.5)

     1.6 51,666,667 unquoted options exercisable at $0.04 and an expiry date 3 years from date of settlement of
         the Offer; (ASX Ref 1.2.6)
     The Company confirms the close of the offers (collectively, the Offers) made under the Company’s prospectus
     dated 30 September 2016 (the Prospectus) as amended by the supplementary prospectus dated 17 October
     2016 and completion of the allotment under each of the Offers. (ASX Ref 1.15.8)(a))

2.   Conditions of the Public Offer
     The Company confirms that all conditions in respect to the Public Offer have been satisfied. (ASX Ref 1.3 and 1.15.8(a))

3.   Conditions Precedent of the Share Sale Agreement
     The Company confirms the satisfaction of the conditions precedent to, and completion of, the share sale
     agreement entered into by the Company to acquire all of the issue capital of Ausnet Financial Services Limited
     (Share Sale Agreement) (ASX Ref 1.8 and 1.15.8(b)), including the issue of the following securities:
     3.1 200,000,000 Vendor Shares at a deemed issue price of $0.02 per share (ref 1.2 above); and (ASX Ref 1.8.1)
     3.2 66,666,667 performance shares to the vendors of Ausnet Estate Services Pty Ltd (ref 1.3). (ASX Ref 1.8.2)

4.   Performance shares
     The Company confirms that:
     4.1 13,800,000 performance rights which the Company has on issue are cancelled; and (ASX Ref 1.9.1 and 1.15.8(c))
     4.2 In respect of the issue of the Performance Shares, that the Company will satisfy the conditions of the listing
         rule 6.1 confirmation decision dated 16 June 2016, including complying with the enhanced disclosure
         requirements. (ASX Ref 1.9.2)

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

5.   Legal, regulatory or contractual impediments
     The Company confirms that there are no legal, regulatory or contractual impediments to the Company
     undertaking the activities the subject of the commitments disclosed in the Prospectus. (ASX Ref 1.11 and 1.15.8(e))

6.   No material subsequent events
     The Company confirms there have been no material subsequent events to alter the Company’s consolidated
     statement of financial position as detailed in section 8 of the Company’s prospectus. (ASX Ref 1.15.8(d))

7.   Compliance with ASX Listing Rules
     The Company confirms that it is in compliance with the listing rules and in particular listing rule 3.1. (ASX Ref 1.15.8(f))

Jay Stephenson
COMPANY SECRETARY

 Ausnet Financial Services Limited | CONFIRMATIONS                                                               Page | 2