HYTERRA LTD — Capital/Financing Update 2018

Oct 3, 2018

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4 October 2018

Dear Option Holder

NON-RENOUNCEABLE ENTITLEMENT ISSUE

As announced on 4 October 2018 Triple Energy Limited (ACN 116 829 675) (the Company or Triple ) is undertaking a 2:3 non-renounceable entitlement issue ( Entitlement Issue or Offer ) of approximately 28,798,421 fully paid ordinary shares ( New Share ) to raise approximately $633,565. The price of New Shares under the Offer is $0.022 each ( Issue Price ).

The Entitlement Issue will be offered to shareholders registered at the Entitlement Record Date (as defined below) with a registered address in Australia, New Zealand, Hong Kong or the British Virgin Islands ( Eligible Shareholders ) on the basis of two (2) New Shares for every three (3) Shares held.

Triple has announced the record date of 5:00pm (WST) on 10 October 2018 for the purposes of determining shareholders entitled to participate in the Entitlement Issue ( Entitlement Record Date ). A prospectus containing full details of the Entitlement Issue was lodged with ASIC and ASX on 4October 2018 and will be despatched to all Eligible Shareholders on 12 October 2018. The Prospectus will be available on the ASX website (company announcements section, ASX code: TNP).

Under the terms of the options you currently hold, there is no entitlement to participate in the Entitlement Issue, unless you exercise your options and are entered onto the register as an Eligible Shareholder on or before the Entitlement Record Date. Under the terms of your options you are entitled to receive notice of the record date set for the purposes of determining entitlements to any new issue of capital. The purpose of this letter is to give you that notice in order to permit you to participate in the Entitlement Issue, should you wish to do so.

If you are not a shareholder and wish to participate in the Entitlement Issue, or if you are already a shareholder but also wish to participate in the Entitlement Issue in respect of your option holdings, it will be necessary for you to exercise all or part of your options, and the shares in respect of those options must have been issued to you before the Entitlement Record Date. If you wish to do so, you should complete a Notice of Exercise of Options and lodge it with the Company, together with your payment for the number of options you wish to exercise. If the Notice of Exercise of Options together with payment in full for the relevant number of options being exercised is not received by 10 October 2018, you will not be able to participate in the Entitlement Issue in respect of the shares to be issued upon exercise of those options.

If you do not wish to participate in the Entitlement Issue (in respect of your options), you do not need to take any action.

Triple Energy Ltd ACN 116 829 675 Unit 24, 589 Stirling Highway, Cottesloe WA 6011

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This letter is only intended to inform you of your rights in relation to your options. This letter is not an offer or an invitation to acquire shares in Triple or to participate in the Entitlement Issue.

If you require further information, please contact the Company Secretary on + 61 8 6153 1861 between 8:30 am and 5:00pm (WST).

Yours faithfully TRIPLE ENERGY LIMITED

ALEX NEULING COMPANY SECRETARY

Triple Energy Ltd ACN 116 829 675 Unit 24, 589 Stirling Highway, Cottesloe WA 6011