TERRACOM LIMITED — Capital/Financing Update 2021

Nov 30, 2021

TerraCom Limited Blair Athol Mine Access Road Clermont, Queensland, 4721 +61 7 4983 2038 ABN 35 143 533 537

1 December 2021

SHAREHOLDER UPDATE

• Bond long form documents executed reflecting an extended maturity date of 31 December 2022

• Annual General Meeting scheduled for 31 January 2022

TerraCom Limited (ASX:TER) ( TerraCom or Company ), an emerging resources company with a large portfolio of operating assets in Australia and South Africa, is pleased to advise shareholders of the following updates.

Bond Extension documents

As announced in the ASX announcement on 8 October 2021, the Company and Note Trustee have now executed long form bond documents which reflect an extension of the bond maturity date to 31 December 2022.

Key terms of the new facility are consistent with the terms previously announced:

	Facility Terms
Maturity Date	31 December 2022
Interest Rate	12.5% per annum fixed*
Special Interest	0.75% of Blair Athol revenues*
Repayment Schedule	Principal and interest to be repaid monthly via agreed cash sweep based on the Company’s financial performance

* consistent with the existing bond facility

There are no additional fees payable by the Company should the bond be repaid before the scheduled Maturity Date.

Commenting on the refinance position, Executive Chairman Craig Ransley said:

“The Company is pleased that the refinance program is now complete. The continued support of the bondholders has been well received and the Company looks forward to deleveraging the Company through the extinguishment of the debt over the next 13 months[1] .”

Annual General Meeting

The Company is pleased to advise shareholders that the 2021 Annual General Meeting ( AGM ) will be held on Monday 31 January 2022 . The venue is still to be decided however the AGM is expected to be held in Sydney.

1 Refer ASX Announcement dated 8 October 2021 for economic and operating assumptions.

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The Board hopes that by this stage Covid restrictions will be eased and the Company can welcome shareholders to attend in person.

A notice of meeting will be sent to shareholders in the coming weeks.

This announcement has been approved by the Board for release.

For further information please contact:

Craig Ransley Megan Etcell Executive Chairman Interim CFO & Company Secretary P +61 7 4983 2038 P +61 7 4983 2038

About TerraCom Limited

TerraCom Limited (ASX: TER) is an emerging company originating as a resource explorer with a large portfolio of operating assets in Australia and South Africa. We are currently enacting a growth strategy towards delivering a Mid-Tier diversified operating and trading business and have global focus on the development of a high yielding diversified asset portfolio for its investors. To learn more about TerraCom visit terracomresources.com.

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