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

Jun 22, 2021

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23 June 2021

Dear Option Holder

NOTICE TO OPTION HOLDERS OF NON-RENOUNCEABLE ENTITLEMENT OFFER

We write to you as the registered holder of options in Triangle Energy (Global) Limited ( Company ) (ASX:TEG) as at today's date.

The Company is undertaking a non-renounceable pro rata entitlement offer of new options to eligible shareholders in the Company at an issue price of $0.001 per option and on the basis of 1 new option ( New Option ) for every 2 shares held at the record date on 28 June 2021 ( Record Date ) ( Offer ). The New Options will have an exercise price of $0.035 and will have an expiry date two years from the date of issue.

Pursuant to the Offer, the Company will issue up to 310,381,741 New Options at an issue price of $0.001 per New Option to raise approximately $310,382 before costs.

The Offer will be available to all shareholders of the Company registered on the Record Date whose registered address is in Australia or New Zealand ( Eligible Shareholders ).

A prospectus in relation to the Offer was lodged with ASIC on 22 June 2021, and will be sent to Eligible Shareholders by no later than 1 July 2021.

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

If you do not wish to participate in the Offer (in respect of your options), no action is required. Before deciding whether to exercise all or any of your options, you should consider the prospectus carefully and if in any doubt, consult with your professional advisor.

If you require clarification on any of the above matters, please contact the Company's share registry, Automic on1300 288 664 or the undersigned on (08) 9219 7111.

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