MPR AUSTRALIA LIMITED — Capital/Financing Update 2018

Dec 17, 2018

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18 December 2018

Dear Shareholder

We are writing to you to update you on two matters that are shaping the company’s future.

CAPITAL RAISING

On 29 November 2018, the company launched a $3.6 million capital raising comprising a $1 million placement and a 2:5 entitlement offer at 5.2 cents per share to raise up to $2.6 million.

Some shareholders who wish to participate in the rights issue, particularly those residing in New Zealand who have not registered an email address and who do not have access to Australian BPay, have encountered some difficulties meeting the time frame of the 18 December 2018 closing date. Accordingly, the company has extended the closing date for the rights issue to 5:00pm Sydney time on 18 January 2019 .

If you have any questions relating to the rights issue, please contact the company on +61 2 8275 6000 or info@tagpac.com.

COMPANY NAME CHANGE

Following shareholder approval at the company’s Annual General Meeting on 29 November 2018, the name of the company is formally changing from Tag Pacific Limited to MPower Group Limited to align more closely the group’s corporate identity and its main operating activities. What this signals to our shareholders, customers, suppliers, partners and our management and staff is that the time has come for MPower to have the opportunity to flourish in its own right as a listed company.

The company’s ASX code will change from TAG to MPR in early 2019. Shareholders will receive updated holding statements in due course.

MPower is embarking on a new corporate identity and we encourage you to visit the company’s website at www.mpower.com.au which will soon be updated to contain relevant information for investors. Shareholders who wish to become more familiar with MPower’s activities in the renewable energy sector will find the website very informative.

We thank you for your ongoing commitment to the company and we believe we are very well placed to capitalise on some unique opportunities that we expect will unfold in calendar 2019. Renewable energy technologies such as battery and solar power are growing in prominence and your company is at the forefront of this growth. Your Board is excited about the company’s near term and indeed its long-term prospects.

Yours faithfully

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Peter Wise Chairman

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