THORNEY OPPORTUNITIES LTD — Net Asset Value 2020

Aug 10, 2020

THORNEY OPPORTUNITIES LTD ACN 080 167 264

ASX Announcement Date: 11 August 2020

ASX Code: TOP

MONTHLY NET TANGIBLE ASSET BACKING STATEMENT – JULY 2020

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

Net Tangible Asset backing per share (NTA)

NTA current month	Before Tax¹	After Tax¹
31 July 2020	60.1 cents	61.3 cents
NTAprevious month	Before Tax²	After Tax²
30 June 2020	59.9 cents	61.4 cents

All figures are unaudited and approximate.

Notes:

¹ From 1 July 2020, the estimated corporate tax rate used in the NTA calculation is 26%. ² 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/

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