TRIANGLE ENERGY (GLOBAL) LIMITED — Capital/Financing Update 2021

Jun 23, 2021

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24 June 2021

Dear Shareholder

Notice to Ineligible Shareholders of Non-Renounceable Entitlement Offer

As announced on 23 June 2021, Triangle Energy (Global) Limited (ASX: TEG) ( Triangle or 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 2 shares held on the record date ( Entitlement Offer ). Each New Option will have an exercise price of $0.035 and an expiry date of 4 August 2023.

Pursuant to the Entitlement Offer, the Company will issue up to 310,381,741 New Options to raise up to approximately $310,000 (before costs). The Company released a prospectus for the Entitlement Offer ( Prospectus ) to ASX on 23 June 2021.

Purpose of the Entitlement Offer

Subject to the satisfactory completion of the Entitlement Offer, funds raised from the issue of the New Options will be used towards the costs of the Entitlement Offer and for general working capital. Funds raised from the exercise of the New Options (if any) will be used towards development of the Company's existing projects and for general working capital.

The Entitlement Offer is available to all Triangle shareholders ( Shareholders ) registered on the record date on 28 June 2021 ( Record Date ) whose registered address is in Australia or New Zealand ( Eligible Shareholders ).

Ineligible shareholders

A Shareholder who has a registered address outside Australia and New Zealand ( Ineligible Shareholder ) will not be eligible to participate in the Entitlement Offer.

You are not eligible to participate in the Entitlement Offer and you will not be sent a copy of the Prospectus. This decision has been made pursuant to Listing Rule 7.7.1(a) of the ASX Listing Rules after taking into consideration the costs of complying with legal and regulatory requirements in jurisdictions outside Australia and New Zealand compared with the small number of Ineligible Shareholders and the number and value of New Options to which they would otherwise be entitled.

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 faithfully

Robert Towner

Managing 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