MPR AUSTRALIA LIMITED — Capital/Financing Update 2015

Nov 29, 2015

For all enquiries:

Phone:

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(TAG) +61 2 8275 6000

Web: www.tagpac.com

30 November 2015

MR SAM SAMPLE FLAT 123 123 SAMPLE STREET THE SAMPLE HILL SAMPLE ESTATE SAMPLEVILLE VIC 3030

Dear overseas shareholder

NON-RENOUNCEABLE PRO-RATA RIGHTS ISSUE

The Directors of Tag Pacific Limited (" Tag Pacific ") advise that they have today lodged an Offer Document with the Australian Securities Exchange for an 11 for 20 nonrenounceable rights issue of approximately 51,544,764 New Shares at an issue price of 4 cents per New Share, to raise approximately $2,061,790 (before costs) (" Rights Issue ").

Only shareholders registered with addresses in Australia, New Zealand, Hong Kong, Singapore or the United Kingdom will receive an entitlement to the Rights Issue on the basis of 11 New Shares for every 20 ordinary shares registered in their name at 7.00pm (Sydney time) on 4 December 2015. Our records indicate that you are a shareholder with a registered address outside Australia, New Zealand, Hong Kong, Singapore and the United Kingdom, and therefore you are unable to participate in the Rights Issue under the Offer Document.

The Directors have decided that it is unreasonable to extend the offer to shareholders with addresses outside of Australia, New Zealand, Hong Kong, Singapore and the United Kingdom (" Ineligible Shareholders "), having regard to:

1. the small number of shareholders in the place where the offer would be made;

2. the fact that those shareholders hold a relatively small number of shares in aggregate which would involve a relatively small entitlement to the Rights Issue in both number and value; and

3. the cost of complying with legal requirements and the requirements of the regulatory authorities in each of the relevant countries.

If you wish to participate in the Rights Issue it will be necessary for you to transfer your shares to a nominee with an address in Australia, New Zealand, Hong Kong, Singapore or the United Kingdom by 4 December 2015 which is the Record Date for the Rights Issue, provided that does not breach any law in your country.

2

However, Tag Pacific has appointed a company (the " Nominee ") who has been approved by the Australian Securities and Investments Commission to act as a nominee for the Ineligible Shareholders for the purposes of section 615 of the Corporations Act 2001. The Company will issue to the Nominee at the issue price of 4 cents per New Share, that number of New Shares that Ineligible Shareholders would be entitled to if they were eligible to participate in the Rights Issue (" Nominee Shares ").

The Nominee will sell the Nominee Shares at a price and otherwise in a manner determined by the Nominee in its sole discretion. Neither Tag Pacific nor the Nominee will be liable for either the timing or price at which the Nominee Shares may be sold. Any net proceeds of sale will be distributed to each of the Ineligible Shareholders in proportion to the Ineligible Shareholders' Entitlement. Net proceeds of sale will be the gross proceeds of sale less the aggregate of all costs of selling the Nominee Shares, the issue price of the Nominee Shares and the fee payable by Tag Pacific to the Nominee for it agreeing to act as the Nominee (" Total Costs of Sale ").

Please be aware that no net proceeds of sale will be available for distribution if the Total Costs of Sale exceed the gross proceeds of sale.

For and on behalf of the Directors of TAG PACIFIC LIMITED

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Peter Wise Chairman