THORNEY OPPORTUNITIES LTD — Capital/Financing Update 2016

Nov 28, 2016

THORNEY OPPORTUNITIES LTD ACN 080 167 264

ASX Announcement: 29 November 2016 ASX Code: TOP

PROSPECTUS AND PRIORITY ALLOCATION

In accordance with ASX Listing Rule 3.17 we attach a copy of a letter which has been sent to all Thorney Opportunities Ltd shareholders today.

Please direct enquiries to:

Craig Smith Company Secretary T: + 61 3 9921 7116

Level 39, 55 Collins Street, Melbourne Vic 3000 Telephone + 61 3 9921 7116 Facsimile + 61 3 9921 7100

THORNEY OPPORTUNITIES LTD ACN 080 167 264

29 November 2016

Dear Shareholder,

PROSPECTUS AND PRIORITY ALLOCATION

1. Important notice

Australian Renewable Fuels Limited (to be renamed Thorney Technologies Ltd) (“the Company”) lodged a replacement prospectus with ASIC on 23 November 2016, replacing the original prospectus lodged with ASIC on 17 November 2016. The Company is the issuer of the securities the subject of the prospectus. The prospectus is available to be obtained by Australian residents located in Australia only at www.arfl.com.au/prospectus.html. The offer of the securities will be made in, and accompanied by, a copy of the prospectus. A person should consider the prospectus when deciding whether to acquire securities in the Company, and any person wishing to acquire securities will need to complete the application form accompanying the prospectus.

2. Prospectus

As previously advised and announced, all eligible[1] Thorney Opportunities Ltd shareholders as at the Record Date of 16 November 2016 receive a right to apply for a Priority Allocation under the Prospectus issued by Australian Renewable Fuels Limited.

The Prospectus can be obtained here: http://arfl.com.au/prospectus.html.

Full details of the Offer are set out in the Prospectus, including Section 6 which highlights the range of risks. Investors are encouraged to read the entire Prospectus and obtain professional advice before investing under this Prospectus.

1 Offer is only available to Australian-based TOP shareholders

Level 39, 55 Collins Street, Melbourne Vic 3000 Telephone + 61 3 9921 7116 Facsimile + 61 3 9921 7100

THORNEY OPPORTUNITIES LTD PROSPECTUS AND PRIORITY ALLOCATION continued

3. Priority allocation

To access your priority allocation application form, please follow the instructions below:

1. Go to www.investorcentre.com, and select ‘Access a Single Holding’;

2. Confirm your shareholding details: residency status; Securityholder Reference Number (SRN) or Holder Identification Number (HIN); your registered postcode; enter ARW in the ‘Select a company you own shares in’ field;

3. Tick the ‘Terms and Conditions’ tick box, once you agree;

4. Select ‘Login’ to access your Portfolio page;

5. Select ‘Statements & Documents’;

6. In the list of statements and documents, select the ‘View PDF’ button next to the form referenced Entitlement Acceptances;

7. Select ‘Open’, then save and print as required.

8. Follow the instructions on the application form to make your payment.

Please direct queries to: Craig Smith Company Secretary craig.smith@thorney.com.au