TIVAN LIMITED — Share Issue/Capital Change 2026

May 27, 2026

tivan
a critical minerals company
asx announcement

28 May 2026

Notice of Expiry of Listed Options

Tivan Limited (ASX: TVN) ("Tivan" or the "Company") wishes to advise shareholders that the attached notice of exercise of options notice of exercise of options form has been sent to registered holders of the Company's listed options (ASX: TVNO) ("Options") advising that the Options which are exercisable at $0.30 each will expire at 5:00pm WST on 30 June 2026 ("Expiry Date"). Official quotation of the Options on ASX will cease at close of trading on Wednesday, 24 June 2026, being four business days prior to the expiry date.

Holders of the Options can exercise all or part of their Options prior to the Expiry Date by providing the Company a completed notice of exercise of options form specifying the number of Options being exercised and the required payment of funds. There is no obligation for Option Holders to exercise their Options. However, under paragraph 5.2 of Appendix 6A of the ASX Listing Rules, the Company is required to advise Option Holders of the information contained in this notice.

The courses of action available to you as a holder of these soon to expire Options are:

a) Exercise your Options

If you wish to exercise your Options, you must complete the instructions set out in the "Notice of Exercise of Options" form accompanying this letter and provide the completed Notice of Exercise together with payment of $0.30 per Option on or before 5:00pm (WST) on 30 June 2026. On exercise, each Option entitles the holder to receive one fully paid ordinary share in the capital of the Company.

b) Sell your Options

The official quotation of the Options on ASX will cease at close of trading on Wednesday, 24 June 2026, being four business days prior to the expiry date.

c) Do nothing and allow your Options to expire

If you do not exercise or sell your Options in the manner described above, they will expire at 5:00pm (WST) on 30 June 2026 and your right to subscribe for ordinary shares in the Company at $0.30 per share will lapse.

The market sale price of ordinary shares in Tivan on the ASX was $0.31 on Wednesday, 27 May 2026.

During the three (3) months preceding the date of this notice:

• The highest market sale price of ordinary shares on the ASX was $0.48 on 27 February 2026; and
• The lowest market sale price of ordinary shares on the ASX was $0.27 on 18 May and 21 May 2026.

This announcement has been approved by the Board of the Company.

Inquiries:

Nicholas Ong
Company Secretary: +61 8 9486 4036
Email: nicholas.ong@tivan.com.au.

Registered Office
Level 1, 16 Bennett St, Darwin City
the Northern Territory, 0800

Contact
+61 8 9327 0900
engagement@tivan.com.au

tivan Limited
ABN 12 000 817 023
ASX Code: TVN

tivan.com.au

---

tivan

Tivan Limited

ABN 12 000 817 023

For all enquiries:
Phone:
(within Australia) 1300 850 505
(outside Australia) +61 3 9415 4000

TVN

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

Notice of Exercise of Options

Options exercisable at A$0.30 per Option expiring on 5.00pm (AEST) on Tuesday, 30 June 2026

This document can only be used in relation to the Optionholding represented by the details entered overleaf. If you are in doubt about how to deal with this form, please contact your financial or other professional adviser.

Your option holding may be exercised in whole or in part by payment of $0.30 for each option by no later than 5.00pm (AEST) on 30 June 2026 (Expiry Date). If payment is not received by 5:00pm (AEST) on the Expiry Date, the options will lapse and all rights under the options will cease at that time. On exercise, each TVNO option entitles the holder to receive one fully paid ordinary share in the Company.

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

Step 1: Registration Name & Offer Details

Details of the option holding and entitlements for this Offer are shown overleaf.

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

Your option holding may be exercised in whole or in part. Enter the number of options you wish to exercise and the amount of payment. By making your payment you confirm that you agree to all of the terms and conditions of the Options expiring 30 June 2026.

BPAY®: See overleaf. You do not need to return this form when making a BPAY payment.

If you are unable to pay via BPAY, please refer to the contact information at the top of this form to obtain alternative payment instructions.

Neither Computershare Investor Services Pty Limited (Computershare) nor Tivan 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 the closing date. Eligible Optionholders should use the reference number shown when making a BPAY payment.

By submitting this Notice of Exercise of Option or by making payment by BPAY:

I/We request that you allot me/us the number of Fully Paid Ordinary 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 Fully Paid Ordinary Shares to be allotted and place my/our name on the register.

Turn over for details of the Offer →

Tivan Limited Notice of Exercise of Options

Payment must be received by 5:00pm (AEST) Tuesday, 30 June 2026

© Registered to BPAY Pty Limited ABN 69 079 137 518

916CR_0_Sample_CA/000001/0000026

---

Notice of Exercise of Options

STEP 1 Registration & Offer Details

X 99999999991 IND

Registration: MR SAM SAMPLE
123 SAMPLE STREET
SAMPLETOWN VIC 3000

For your security keep your SRN/HIN confidential
Entitlement No: 12345678

Offer Details:
Number of Options registered in your name as at 16 February 2026: 4,000
Number of Fully Paid Ordinary Shares to be issued on full exercise: 1
Amount payable on full exercise of Options at $0.30 per Option: $0.01

STEP 2 Make your payment by 5:00pm (AEST) Tuesday, 30 June 2026

Enter details below and retain for your records. You do not need to return this form when making payment by BPAY.

BPAY
Biller Code: 999999
Ref No: 1234 5678 9123 4567 89

Contact your financial institution to make your payment.

Number of Options exercised:

Amount enclosed at $0.30 per Option: A$ .

Neither Computershare Investor Services Pty Limited (Computershare) nor Tivan 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 the closing date. Eligible Shareholders should use the reference number shown when making a BPAY payment.

Privacy Notice

Your personal information is collected by Computershare, as registrar for the securities issuer (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 Computershare 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 issuer's 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.