TIVAN LIMITED — Capital/Financing Update 2020

Oct 14, 2020

15 October 2020

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ASX ANNOUNCEMENT
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NON-RENOUNCEABLE ENTITLEMENT ISSUE OFFER DOCUMENTATION DESPATCHED

As announced on 2 October 2020, TNG Limited (ASX: TNG) (the “Company” or “TNG”) is undertaking a pro-rata nonrenounceable entitlement issue of one (1) Share for every nine (9) Shares held by those Shareholders registered at the Record Date at an issue price of $0.10 per Share, together with one (1) free New Option for every one (1) Share applied for and issued, to raise up to approximately $12.5 million (“Offer”). The Company lodged an entitlement issue prospectus (“Prospectus”) with ASX on 7 October 2020.

The Company advises that it has today despatched the Prospectus and Entitlement and Acceptance Form (“E&A Form”) to all Eligible Shareholders of the Company named on its register of members on Tuesday, 13 October 2020, as detailed in the Prospectus.

Shareholders can also download their personalised E&A Forms immediately via Computershare’s Investor Centre, as per instructions below:

Step 1 : Go to https://www.tngltd.com.au/investors/asx-announcements/ to view the Entitlement Issue Prospectus.

Step 2 : Go to www.investorcentre.com/au

Step 3 : Click on “Single holding” on the left hand side of the page with this symbol:

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Step 4 : Enter:

• Your Holder number (including the X or I).

• Postcode/country (if overseas).

• TNG’s ASX code (TNG)

Step 5 : Go to ‘Documents’ at the top of the page.

Step 6 : Click the drop down and download your PDF form.

Shareholders are encouraged to refer to the Prospectus and their personalised E&A Form for further information on the Offer.

W www.tngltd.com.au E corporate@tngltd.com.au

ASX CODE: TNG ABN 12 000 817 023

REGISTERED OFFICE T +61 8 9327 0900 Suite 20, 22 Railway Road F +61 8 9327 0901 Subiaco, Western Australia 6008

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Authorised by:

Paul Burton Managing Director & CEO

15 October 2020

Inquiries:

Paul E Burton + 61 (0) 8 9327 0900 Managing Director & CEO Jason Giltay + 61 (0) 8 9327 0900 GM Commercial & Joint Company Secretary Paula Raffo + 61 (0) 8 9327 0900 Investor Relations & Joint Company Secretary

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About TNG

TNG is a Perth based resource and mineral processing technology company focussing on building a world-scale strategic metals business based on its flagship 100%-owned Mount Peake Vanadium-Titanium-Iron Project in the Northern Territory. Located 235km north of Alice Springs, Mount Peake will be a long-life project producing a suite of high-quality, high-purity strategic products for global markets including vanadium pentoxide, titanium dioxide pigment and iron ore fines. The project, which is expected to be a top-10 global producer, has received Major Project Facilitation status from the Northern Territory Government.

Forward-Looking Statements

This announcement has been prepared by TNG Limited. This announcement is in summary form and does not purport to be all inclusive or complete. Recipients should conduct their own investigations and perform their own analysis in order to satisfy themselves as to the accuracy and completeness of the information, statements and opinions contained.

This announcement is for information purposes only. Neither this nor the information contained in it constitutes an offer, invitation, solicitation or recommendation in relation to the purchase or sale of TNG Limited shares in any jurisdiction. This announcement does not constitute investment advice and has been prepared without taking into account the recipient's investment objectives, financial circumstances or particular needs and the opinions and recommendations in this announcement are not intended to represent recommendations of particular investments to particular persons. Recipients should seek professional advice when deciding if an investment is appropriate. All securities transactions involve risks, which include (among others) the risk of adverse or unanticipated market, financial or political developments.

To the fullest extent permitted by law, TNG Limited, its officers, employees, agents and advisers do not make any representation or warranty, express or implied, as to the currency, accuracy, reliability or completeness of any information, statements, opinions, estimates, forecasts or other representations contained in this announcement. No responsibility for any errors or omissions from this arising out of negligence or otherwise is accepted. This announcement may include forward looking statements. Forward looking statements are only predictions and are subject to risks, uncertainties and assumptions which are outside the control of TNG Limited. Actual values, results or events may be materially different to those expressed or implied.

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