THORNEY OPPORTUNITIES LTD — Net Asset Value 2017

Feb 6, 2017

THORNEY OPPORTUNITIES LTD ACN 080 167 264

ASX Announcement Date: 07 February 2017

ASX Code: TOP

MONTHLY NET TANGIBLE ASSET BACKING STATEMENT – JANUARY 2017

In accordance with ASX Listing rule 4.12 we advise the following:

Net Tangible Asset backing per share (NTA)

NTA	Before Tax¹	After Tax¹
31 January 2017	73.8 cents	70.3 cents
NTA	Before Tax	After Tax
31 December 2016	73.2 cents	69.9 cents

¹ The NTA results shown here are after the liability for the 2017 fully franked interim dividend of 0.6 cents per share payable on 5 April 2017 has been deducted.

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