TIVAN LIMITED — Environmental & Social Information 2021

Jun 16, 2021

17 June 2021

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ASX ANNOUNCEMENT
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UPDATE ON ENVIRONMENTAL APPROVAL PROCESS FOR THE DARWIN TIVAN® PROCESSING FACILITY

Further to its announcement of 27 May 2021, Australian resource and mineral processing technology company TNG Limited (ASX: TNG) (“TNG” or the “Company”) provides the following update on the environmental approval process and development planning for its proposed Darwin-based TIVAN® Processing Facility (“DPF”).

The Company has held detailed discussions with the Northern Territory Environment Protection Authority (“NT EPA”) on the matters raised in the “ Direction to Provide Additional Information ” (“Direction”) on the Supplement to the Draft Environment Impact Statement (“EIS Supplement”) for the DPF, and has received further clarification on the 23 matters raised in the Direction, which is appreciated. All the 23 matters raised are now being considered for incorporation in the design of the project.

The Company has sought additional clarification on the cumulative air quality assessment (“AQA”) and the requirement for this to address the threshold of cumulative air quality in accordance with the Northern Territory Government’s air shed model for Darwin. TNG and its environmental consultants, Animal Plant Mineral (“APM”), are working with the NT EPA to develop an acceptable model to be applied to the required revised AQA.

In parallel, the Company and APM have been assessing the specific scopes of work required to address all of the items raised in the Direction and are engaging the relevant required experts in each area to be able to estimate cost and timeframe to complete this work and prepare the necessary information in response to the Direction.

The Company has continued to liaise with representatives of the Northern Territory Government (“NTG”) Department of the Chief Minister and Cabinet (“CM&C”) for their assistance and input to facilitate the development of the DPF and the Mount Peake Project as a whole under the executed Project Facilitation Agreement and the awarded Territory and Federal Major Project Status.

While the Company is in daily contact with the NTG and its agencies, it is also reviewing all development planning options in line with NT EPA requirements and will continue to work closely with the NT EPA, the CM&C and other NTG agencies to reach a positive outcome in the environmental approval process in accordance with the highest environmental and community standards and for the benefit of all stakeholders.

Authorised on behalf of the Board by:

Paul E Burton Managing Director & CEO

17 June 2021

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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Inquiries:

Paul E Burton Managing Director & CEO + 61 (0) 8 9327 0900 Paula Raffo Company Secretary & IR + 61 (0) 8 9327 0900 Nicholas Read Read Corporate + 61 (0) 8 9388 1474

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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 Status from the Australian Federal Government and the Northern Territory Government.

Forward-Looking Statements

This report has been prepared by TNG Limited. This report 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 report 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 report 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 report. No responsibility for any errors or omissions from this arising out of negligence or otherwise is accepted.

This report 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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