THORNEY TECHNOLOGIES LTD — Capital/Financing Update 2016

Dec 15, 2016

(formerly Australian Renewable Fuels Limited)

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ASX Announcement: 16 December 2016

ASX Code: ARW

REVISED OFFER TIMETABLE COMPLETION OF SHARE CONSOLIDATION CHANGE OF NAME ON ASX

Thorney Technologies Ltd (formerly Australian Renewable Fuels
Limited) (ASX: ARW) (the “Company”) is pleased to announce that
the minimum level of subscription has been reached and that the
offer under the replacement prospectus dated 23 November 2016
will close at 5pm (AEDT) on 20 December 2016.

We provide a revised offer timetable below to facilitate offer
administration.

The Company advises that the 1:100 Share Consolidation, as
approved at the Company’s Annual General Meeting held on 9
December 2016, is now complete.

The shares on issue on a post-consolidation basis are as
follows:

Registry Code Description Quantity
ARW Ordinary shares 420,080

New holding statements in the name of Australian Renewable Fuels
Limited have today been dispatched to shareholders advising them
of their holdings on a post-consolidation basis.

On Tuesday 20 December 2016 (the effective date for the change
of name for ASX purposes), the Company’s shares will be renamed
Thorney Technologies Ltd and the Company’s new ASX code will be
TEK.

In accordance with the revised offer timetable set out below, it
is expected that the Company’s shares will recommence trading on
Monday 16 January 2017 [ASX: TEK].

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

THORNEY TECHNOLOGIES LTD ASX ANNOUNCEMENTcontinued

A revised offer timetable in relation to the offer is as
follows:

Event	Date*
Close of the offer	20 December 2016 at 5pm (AEST)
Settlement of shares under the offer	10 January 2017
Issue of shares under the offer	11 January 2017
Holding statements issued for shares issued under the offer	12 January 2017
Suspension of quotation ends and quotation of shares issued under the offer commences (subject to the close of the offer and ASX confirmation of re-compliance with admission requirements)	16 January 2017

*These times and dates are indicative only and subject to change, in particular the date
for satisfaction of the conditions to the offer (and consequently the dates for ending
suspension of quotation for shares and issue of new shares) may occur after the dates
indicated above.  The Company reserves the right, subject to the Corporations Act 2001
(Cth) and the ASX Listing Rules, to change any date, including to extend the closing date
of the offer, to close the offer early, to accept late applications either generally or in
particular cases, or to withdraw or reduce the size of the offer without notice.  Any
extension of the closing date will have a consequential effect on the issue date of new
shares and the re-commencement of trading of shares on ASX.  If the offer is withdrawn,
application monies will be returned in full as soon as reasonably practicable without
interest.

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