THORNEY TECHNOLOGIES LTD — Capital/Financing Update 2016

Nov 16, 2016

AUSTRALIAN RENEWABLE FUELS LIMITED

ACN 096 782 188

ASX Announcement: 17 November 2016

ASX Code: ARW

LODGEMENT OF PROSPECTUS

Australian Renewable Fuels Limited (the Company ) is pleased to advise that it has today lodged a prospectus with the Australian Securities and Investments Commission ( ASIC ) in connection with the proposal with Thorney Group announced to ASX on 10 November 2016 to recapitalise and reposition the Company as an ASX-listed investment entity with a focus on technology investments and other disruptive business models.

Outline of the Offer

Full terms of the offer are set out in the attached prospectus.

Pursuant to this prospectus, the Company is seeking to raise up to $50 million at an issue price of $0.22 per ordinary share, with the ability to accept oversubscriptions up to a further $75 million. The maximum number of ordinary shares that may be issued under the offer is 568,181,818.

The offer has been structured as a:

• placement offer to professional and sophisticated investors; and

• retail offer to the public with priority allocation being offered first to shareholders in the Company, and then to existing shareholders of Thorney Opportunities Ltd ( TOP ).

The retail offer will only be made available to investors with a registered address in Australia.

The expected timetable is as follows:

Event	Date*
Record date to determine priority entitlements of	16 November 2016 at 7pm (AEST)
Company shareholders (and TOP shareholders)
under the retail offer
Lodge prospectus with ASIC and provide a copy to	17 November 2016
ASX
Lodge re-admission application with ASX	17 November 2016
Offer opens	18 November 2016 at 9am (AEST)
2016 AGM held approving issue of shares under the	9 December 2016
offer and other matters

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

Australian Renewable Fuels Limited Lodgement of Prospectus continued

Event	Date*
Effective date of share consolidation (and	16 December 2016
shareholdings adjusted to reflect share
consolidation)
Last date to issue holding statements to reflect	16 December 2016
share consolidation
Close of the offer	20 December 2016 at 5pm (AEST)
Issue of shares issued under the offer	21 December 2016
Holding statements issued for shares issued under	21 December 2016
the offer
Suspension of quotation ends and quotation of	23 December 2016
shares issued under the offer commences (subject
to the close of the offer and ASX confirmation of re-
compliance with admission requirements)

*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