THORNEY TECHNOLOGIES LTD — Capital/Financing Update 2020

Nov 12, 2020

ASX Code: TEK

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Date: 13 November 2020

By E-mail: Melissa.Kostopoulos@asx.com.au

Listings Compliance Adviser ASX Limited Level 4, North Tower, Rialto 525 Collins Street Melbourne VIC 3000

Dear Melissa

Section 708A notice - issue of Thorney Technologies Ltd shares without a prospectus

We attach the Tranche 1 Placement Cleansing Notice in relation to the issue of new ordinary shares in Thorney Technologies Ltd (ACN 096 782 188) (ASX:TEK) (“ TEK ”) pursuant to the institutional placement announced on Monday, 9 November 2020.

Yours sincerely

Craig Smith Company Secretary

ASX Code: TEK

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Date: 13 November 2020

By E-mail: Melissa.Kostopoulos@asx.com.au

Listings Compliance Adviser ASX Limited Level 4, North Tower, Rialto 525 Collins Street Melbourne VIC 3000

Dear Melissa

Notice under section 708A(5)(e) of the Corporations Act 2001

Thorney Technologies Ltd (ACN 096 782 188) (ASX:TEK) (“ TEK ”) has today issued 37,142,858 new ordinary shares in TEK (“ New Shares ”) at an issue price of $0.35 per New Share pursuant to the first tranche of a placement to institutional, sophisticated and professional investors to raise approximately $13,000,000 (“ Tranche 1 Placement ”).

TEK gives notice under section 80A(5)(e) of the Corporations Act 2001 (Cth) (“ Act ”) that:

• (a) TEK offered the New Shares for issue without disclosure to investors under Part 6D.2 of the Act;

• (b) as at the date of this notice, TEK has complied with:

• (i) the provisions of Chapter 2M of the Act as they apply to TEK;

• (ii) section 674 of the Act; and

• (c) as at the date of this notice, there is no “excluded information” of the type referred to in sections 708A(7) and 708A(8) of the Act that is required to be set out in this notice under section 708A(6)(e).

Yours sincerely

Craig Smith Company Secretary