TERRACOM LIMITED — Capital/Financing Update 2021

Apr 5, 2021

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

6 April 2021

REFINANCE UPDATE

TerraCom Limited ( TerraCom or Company ) wishes to update shareholders on the refinance program.

As disclosed on 1 March 2021, the Company was at that time in receipt of formal term sheets from a number of parties which were being reviewed by management.

In the weeks since that time management has reviewed the term sheets and refined both the structure and terms of a suitable refinance package with two new parties.

Whilst exact details cannot be disclosed at this point in time, TerraCom can advise shareholders that the process is well advanced, and a combined pre-payment and term loan structure is being considered at terms of between 5-7 years and interest rates at less than 10%.

Both management and the two third parties are working towards completion of binding arrangements, long form documents and draw down in advance of the 30 June 2021 bond expiry date.

This announcement has been approved by the Board for release.

Craig Ransley Executive Chairman 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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