THORNEY OPPORTUNITIES LTD — Net Asset Value 2020

Sep 7, 2020

ASX Code: TOP

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Date: 8 September 2020

MONTHLY NET TANGIBLE ASSET BACKING STATEMENT – AUGUST 2020

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

Net Tangible Asset backing per share (NTA)

NTA current month	Before Tax	After Tax
31 August 2020	62.4 cents	62.6 cents
NTA current month	Before Tax	After Tax
31 July2020	60.1 cents	61.3 cents

All figures are unaudited and approximate.

Notes:

The 31 August 2020 NTA figures shown above are after providing for the 1.27 cents per share fully franked dividend that is due and payable on 30 September 2020.

From 1 July 2020, the estimated corporate tax rate used in the NTA calculation is 26%. For the year ended 30 June 2020, the applicable corporate tax rate was 30%.

Please direct enquiries to: Craig Smith Company Secretary Email: craig.smith@thorney.com.au Telephone: + 61 3 9921 7116 Website: http://thorneyopportunities.com.au/