THORNEY OPPORTUNITIES LTD — Net Asset Value 2020

Apr 2, 2020

THORNEY OPPORTUNITIES LTD ACN 080 167 264

ASX Announcement Date: 3 April 2020

ASX Code: TOP

MONTHLY NET TANGIBLE ASSET BACKING STATEMENT – MARCH 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 March 2020	48.9 cents	53.7 cents
NTAprevious month	Before Tax	After Tax
29 February 2020	73.0 cents	70.4 cents

All figures are unaudited and approximate.

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