TRIANGLE ENERGY (GLOBAL) LIMITED — Capital/Financing Update 2019

Nov 7, 2019

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8 November 2019

Dear Optionholder

Notice to Optionholders of Non-Renounceable Entitlement Offer

We write to you as the registered holder of options in Triangle Energy (Global) Limited (ASX: TEG) ( Company or Triangle ). As advised in the Company's ASX announcement dated 8 November 2019, the Company is undertaking a non-renounceable pro-rata entitlement offer to eligible shareholders of quoted options in the Company at an issue price of $0.001 each and on the basis of 1 new quoted option ( New Option ) for every 5 shares held on the record date ( Entitlement Offer ). Each New Option will have an exercise price of $0.12 each and an expiry date of 30 September 2020.

Pursuant to the Entitlement Offer, the Company will issue up to 72,150,736 New Options to raise up to approximately $72,150 (before costs). The Company released a prospectus for the Entitlement Offer ( Prospectus ) to ASX on 8 November 2019.

The Entitlement Offer is available to all shareholders ( Shareholders ) registered on the record date on 13 November 2019 ( Record Date ) whose registered address is in Australia or New Zealand ( Eligible Shareholders ).

A prospectus in relation to the Entitlement Offer was lodged with ASIC on 7 November 2019 and will be sent to Eligible Shareholders in due course.

Under the terms of the options you currently hold, there is no entitlement to participate in the Entitlement Offer unless you exercise your options and are entered onto the register as a shareholder of the Company by 5pm (WST) on the Record Date.

If you wish to participate in the Entitlement Offer, a notice of options exercise and payment of the options exercise price should be lodged with the Company's share registry, Automic Pty Ltd, with sufficient time to ensure that you are registered as a Shareholder of the Company by the Record Date.

If you do not wish to participate in the Entitlement Offer, no action is required.

For all enquiries concerning the Entitlement Offer, please contact the Company on +61 8 9219 7111. For all general shareholder enquiries, please contact the Company's share registry, Automic, on 1300 288 664 (within Australia) or +61 2 9698 5414 (outside Australia).

Yours sincerely

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Robert Towner Executive Director

triangleenergy.com.au

Triangle Energy (Global) Limited ABN 52 110 411 428 Suite 2, 100 Havelock St, West Perth WA 6005 | PO Box 51 West Perth WA 6905 Australia T +61 8 9219 7111 F +61 8 9385 5184

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