HIGH PEAK ROYALTIES LIMITED — Share Issue/Capital Change 2012

Mar 4, 2012

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• 5 March 2012

Australian Securities Exchange

NOTICE UNDER SECTION 708A(6) OF THE CORPORATIONS ACT

This notice is made with respect to the issue of 10,560,484 fully paid ordinary shares in the Company ( Shares ) as advised in an Appendix 3B lodged on 1 March 2012.

The Company gives this notice pursuant to Section 708A(5)(e) of the Corporations Act.

The Shares were issued without disclosure to investors under Part 6D.2, in reliance on Section 708(8) of the Corporations Act.

The Company, as at the date of this notice, has complied with:

• a) the provisions of Chapter 2M of the Corporations Act as they apply to the Company; and

• b) Section 674 of the Corporations Act.

As at the date of this notice, there is no excluded information (as that expression is defined in Sections 708A(7) and (8) of the Corporations Act) in relation to the Company.

Yours sincerely

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Robert Hodby Company Secretary Torrens Energy Limited

TORRENS ENERGY LIMITED ABN 79 118 065 704 RENEWABLE SUSTAINABLE GEOTHERMAL ENERGY A: 338 Hay Street, Subiaco WA 6008 PO Box 1505 Subiaco WA 6904 T: +61 8 6380 1003 F: +61 8 6380 1026 W: www.torrensenergy.com