TIVAN LIMITED — Share Issue/Capital Change 2021

Nov 1, 2021

2 November 2021

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ASX ANNOUNCEMENT
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NOTICE OF EXPIRY OF LISTED OPTIONS

TNG Limited (ASX: TNG) ("TNG" or the “Company”) advises that the attached letter has been sent to registered holders of the Company’s listed options (ASX:TNGOB) (“Listed Options”) which are exercisable at $0.18 on or before 5.00pm (AEDT) on 30 November 2021 (“Expiry Date”).

Official quotation of the Listed Options on the ASX will cease at close of trading on 24 November 2021, being four business days before the Expiry Date.

Authorised by:

Paul E Burton Managing Director & CEO

2 November 2021

Inquiries:

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

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

TNG

MR SAM SAMPLE 123 SAMPLE STREET SAMPLETOWN VIC 3000

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ASX ANNOUNCEMENT
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2 November 2021

Dear Option Holder

NOTIFICATION OF EXPIRY OF LISTED OPTIONS – TNGOB

TNG Limited (ASX: TNG) ("TNG" or the “Company”) wishes to advise that you are a registered holder of the Company’s options exercisable at $0.18 each ( Exercise Price ) that will expire at 5.00pm (AEDT) on 30 November 2021 (ASX:TNGOB) ( Listed Options ).

Each Listed Option you hold entitles you to subscribe for one fully paid ordinary share issued in the capital of TNG ( Share ) at the Exercise Price.

Your choices as a Listed Option holder are:

1. Exercise all or some of your Listed Options on or before 30 November 2021.

2. Attempt to sell all or some of your Listed Options on market by the close of trading on 24 November 2021.

3. Do nothing and allow your Listed Options to lapse.

Please refer to the enclosed Application Form on Exercise of Options for further instructions.

In accordance with clause 5.2 of Appendix 6A of the ASX Listing Rules, the Company provides the following information:

information:
Number of Listed Options held	[number]
Number of Shares to be issued upon conversion	One fully paid ordinary share per Listed Option that is exercised
Exercise Price	$0.18per Listed Option
Due date forpayment of the Exercise Price	5.00pm(AEDT)on 30 November 2021(Expiry Date)
Consequence of non-payment of Exercise Price	If the Exercise Price is not paid and the Listed Options are not exercised before the Expiry Date, the Listed Options will lapse and the holder will have no further rights or entitlements in relation to those Listed Options.
Date quotation of Listed Options will end	24 November 2021, being four business days before the Expiry Date
Latest marketprice of Shares	$0.125 at close of trade on 1 November 2021
Highest and lowest market price of Shares during the three months before the date of this notice, and the dates of those sales	Highest: $0.145 on 26 October 2021 Lowest: $0.07 on 10 August 2021
Underwriting	There is no underwriting agreement in place with respect to the Listed Options

916CR_0_Sample_CA/000001/000001

We recommend that you seek independent advice if you are unsure as to what to do in relation to your Listed Options.

Please note that there is no obligation upon option holders to exercise their Listed Options.

Should you wish to discuss any information contained in this letter further, do not hesitate to contact TNG’s Company Secretary, Paula Raffo, on +61 8 9327 0900 or email corporate@tngltd.com.au.

For and on behalf of TNG Limited

Paul Burton Managing Director and CEO

ABN 12 000 817 023

For all enquiries:

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Phone:

Company Secretary +61 8 9327 0900

TNG

MR SAM SAMPLE 123 SAMPLE STREET SAMPLETOWN VIC 3000

Make your payment:

See overleaf for details of the Offer and how to make your payment

APPLICATION FORM ON EXERCISE OF LISTED OPTIONS

This document can only be used in relation to the Optionholding represented by the details entered overleaf. We recommend that you seek independent advice if you are unsure as to what to do in relation to your Listed Options.

You are reminded that the Listed Options to subscribe for fully paid ordinary shares (Shares) in the capital of TNG Limited (the Company) expire on 30 November 2021 (Listed Options). These Listed Options are exercisable wholly or in part by the payment of $0.18 for each Listed Option exercised. Payment must be received via BPAY or at the address overleaf by 5:00pm (AEDT) on Tuesday, 30 November 2021. For every Listed Option exercised, the Optionholder will be issued one Share in the capital of the Company. Listed Options not exercised by 30 November 2021 will lapse. If payment is made by BPAY you will be deemed to have submitted this Application Form on Exercise of Listed Options.

Please note that there is no obligation upon optionholders to exercise their Listed Options.

Step 1: Registration Name & Holding Details

Please check the details provided and update your address via www.investorcentre.com if any of the details are incorrect.

If you have a CHESS sponsored holding, please contact your Controlling Participant to notify a change of address.

Step 2: Make Your Payment

You can exercise either all or some of your Listed Options. Enter the number of Listed Options you wish to exercise and the amount of payment for those exercised Listed Options.

Choose one of the payment methods shown below.

BPAY[®] : See overleaf. Do not return the payment slip with BPAY payment.

By Mail: Complete the reverse side of the payment slip and detach and return with your payment. Make your cheque, bank draft or money order payable in Australian dollars to " TNG Limited " and cross " Not Negotiable ". The cheque must be drawn from an Australian bank. Cash is not accepted.

Payment will be processed on the day of receipt and as such, sufficient cleared funds must be held in your account as cheques received may not be re-presented and may result in your Application being rejected. Paperclip (do not staple) your cheque(s) to the payment slip. Receipts will not be forwarded. Funds cannot be debited directly from your account.

Turn over for details of the Optionholding è

Entering your contact details is not compulsory, but will assist us if we need to contact you.

• By submitting this APPLICATION FORM ON EXERCISE OF LISTED OPTIONS or by making payment by BPAY :

• I/We request that you allot me/us the number of Shares applied for and I/we agree to accept such shares subject to the Constitution of the Company; and

• I/We authorise you to register me/us as the holder(s) of the Shares to be allotted and place my/our name on the register.

TNG Limited Application Form on Exercise of Listed Options Payment must be received by 5:00pm (AEDT) on Tuesday, 30 November 2021

® Registered to BPAY Pty Limited ABN 69 079 137 518

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X 9999999991 I ND

APPLICATION FORM ON EXERCISE OF LISTED OPTIONS

Registration Name & Offer Details

MR SAM SAMPLE Registration Name: 123 SAMPLE STREET SAMPLETOWN VIC 3000

[For your security keep your SRN/] HIN confidential.

Entitlement No: 12345678

Offer Details:

Number of Listed Options registered in your name as at 27 October 2021:

Number of Shares to be issued on full exercise:

Amount payable on full exercise of Listed Options at $0.18 per Option:

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Make Your Payment by 5:00pm (AEDT) on Tuesday, 30 November 2021

To avoid postal delay make your payment via BPAY either online or by phone with your bank using the payment details below.

BPAY Cheque, bank draft or money order Biller Code: 366146  Make your cheque, bank draft or money order payable to" TNG Limited " and cross " Not Negotiable ". Ref No: 1234 5678 9123 4567 89 Return your payment with the below payment slip to: Computershare Investor Services Pty Limited Contact your financial institution to make your GPO BOX 505 Melbourne Victoria 3001 Australia

Contact your financial institution to make your payment from your cheque or savings account.

BPAY

Neither Computershare Investor Services Pty Limited (CIS) nor TNG Limited accepts any responsibility for loss incurred through incorrectly completed BPAY payments. It is the responsibility of the applicant to ensure that funds submitted through BPAY are received by this time. Eligible optionholders should use the customer reference number shown on this Application Form when making a BPAY payment.

MAIL

Neither CIS nor TNG Limited accepts any responsibility if you lodge the payment slip below at any other address or by any other means.

Privacy Notice

The personal information you provide on this form is collected by CIS, as registrar for the securities issuers (the issuer ), for the purpose of maintaining registers of securityholders, facilitating distribution payments and other corporate actions and communications. In addition, the issuer may authorise us on their behalf to send you marketing material or include such material in a corporate communication. You may elect not to receive marketing material by contacting CIS using the details provided above or emailing privacy@computershare.com.au. We may be required to collect your personal information under the Corporations Act 2001 (Cth) and ASX Settlement Operating Rules. We may disclose your personal information to our related bodies corporate and to other individuals or companies who assist us in supplying our services or who perform functions on our behalf, to the issuer for whom we maintain securities registers or to third parties upon direction by the issuer where related to the issuers administration of your securityholding, or as otherwise required or authorised by law. Some of these recipients may be located outside Australia, including in the following countries: Canada, India, New Zealand, the Philippines, the United Kingdom and the United States of America. For further details, including how to access and correct your personal information, and information on our privacy complaints handling procedure, please contact our Privacy Officer at privacy@computershare.com.au or see our Privacy Policy at www.computershare.com/au/privacy-policies.

Detach here

TNG Limited Listed Option Exercise Payment Details

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Number of Listed Options exercised: Amount enclosed at $0.18 per Listed Option: A$ .

BPAY is the most efficient and secure form of payment. Your BPAY payment details are shown above.

12345678

Entitlement No: 12345678

MR SAM SAMPLE 123 SAMPLE STREET SAMPLETOWN VIC 3000

Contact & Cheque Details

Contact Daytime Name Telephone Drawer Cheque Number BSB Number Account Number Amount of Cheque

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