TNG : 2021 AGM Chairman Address & MD Presentation

ASX ANNOUNCEMENT

30 November 2021

ANNUAL GENERAL MEETING CHAIRMAN'S ADDRESS &

MANAGING DIRECTOR'S PRESENTATION

TNG Limited (ASX: TNG) provides the attached Chairman's Address and Managing Director's presentation to be

made at the Company's 2021 Annual General Meeting to be held today, 30 November 2021, at 10:00am (AWST).
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Authorised by:
Paul E Burton
Managing Director & CEO
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30 November 2021
Inquiries:
Paul E Burton
Managing Director & CEO	+ 61 (0) 8 9327 0900
Paula Raffo
Company Secretary & IR	+ 61 (0) 8 9327 0900
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ASX CODE: TNG	REGISTERED OFFICE	T [phone]	W www.tngltd.com.au
ABN 12 000 817 023	Suite 20, 22 Railway Road	F [phone]	E [e-mail]
	Subiaco, Western Australia 6008

Chairman's Address, 2021 Annual General Meeting

Good morning Shareholders and Guests,

Welcome to the 2021 Annual General Meeting of TNG Ltd.

Before we begin, I would like to acknowledge Whadjuk Noongar People as the traditional custodians of the land onlywhere we stand, and to pay our respects to their elders' past, present and emerging.

I would also like to acknowledge and pay my respects to the Native Title Holders represented by the Eynewantheyne Aboriginal Corporation, the traditional owners of the land on which our world-class Mount Peake Vanadium- Titanium-Iron Project is located, 230 kilometres north of Alice Springs in the Northern Territory.

Before we move into the formal business of the meeting, I would like to briefly highlight the past year's achievements amidst what has remained a somewhat tumultuous macro environment against the backdrop of the

ngoing COVID-19 pandemic.

Despite continuing global uncertainty - and the impact of the COVID pandemic on international travel, global supply useand logistics chains and borders - I am pleased to say that the past year has been a very busy and productive period

for TNG, with positive progress being achieved at our flagship Mount Peake Project.

One of the most significant events has been the decision to progress the development of the Mount Peake Project as a consolidated and integrated mining and processing operation at the mine site, rather than transporting Mount Peake concentrate to Darwin for processing.

The strategic selection of the mine site as the preferred location for our downstream TIVAN® Processing Facility

followed the completion of a detailed review of the original Middle Arm site in Darwin, as well as a number of personala ternative sites. This review was undertaken following the receipt of the "Direction to Provide Additional Information" on the Supplement to the Draft Environment Impact Statement for the proposed Darwin refinery from

the Northern Territory Environment Protection Authority.

Importantly, the relocation of the TIVAN® processing facility to the mine site offers a number of significant strategic benefits for TNG, including a reduction in costs due to the consolidation of common non-process infrastructure; a reduction in solid waste and tailings disposal handling costs; the ability to optimise the processing layout and simplify commissioning at one location; and an expected lower-risk final permitting process.

A revised site layout for the Mount Peake project was delivered by our appointed engineering partner, Clough, last week incorporating the TIVAN® processing plant. This will pave the way for value engineering and final design work to commence, which will in turn underpin an updated capital cost estimate and facilitate the completion of project finance.

In addition, the Company has also announced a number of important corporate initiatives relating to our strategic plan to develop a green energy business unit as an exciting adjunct to our core focus on developing Mount Peake.

I believe TNG is now in a strong position to achieve our vision of becoming a sustainable resources company capable of delivering maximum benefit to our shareholders as we move forward with the development of the multi-faceted and world-class Mount Peake Project.

ForIn conclusion, I would like to sincerely thank our senior management team, led by our Managing Director, Paul Burton. Thanks to their dedication and hard work, TNG has been able to navigate a number of unexpected challenges and obstacles during the year - emerging with a streamlined and much stronger project which is now ready to move forward.

And finally, I would like to sincerely thank all our loyal shareholders for your ongoing support and to welcome the new institutional investors that have recently joined our share register.

We have an outstanding asset, a significantly de-risked development pathway and an exceptional growth outlook for the future-facing green energy metals we will produce at Mount Peake.

I look forward to the coming year with great enthusiasm.

John Elkington

Chairman

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2021 ANNUAL GENERAL MEETING

Company Presentation

Paul Burton - Managing Director & CEO

Disclaimer

FORWARD LOOKING STATEMENTS

This presentation has been prepared by TNG Ltd. This document contains background information about TNG Ltd current at the date of this presentation. The presentation is in summary form and does not purport to be all

inclusive or complete. Recipients should conduct their own investigations and perform their own analysis in order to satisfy themselves as to the accuracy and completeness of the information, statements and opinions contained in this presentation.

onlydo not make any representation or warranty, express or implied, as to the currency, accuracy, reliability or completeness of any information, statements, opinions, estimates, forecasts or other representations contained in this presentation. No responsibility for any errors or omissions from this presentation arising out of negligence or otherwise is accepted. This presentation may include forward looking statements. Forward looking statements are only predictions and are subject to risks, uncertainties and assumptions which are outside the control of TNG Ltd. Actual values, results or events may be materially different to those expressed or implied in this presentation.

This presentation is for information purposes only. Neither this presentation nor the information contained in it constitutes an offer, invitation, solicitation or recommendation in relation to the purchase or sale of TNG Ltd shares in

any jurisdiction. This presentation may not be distributed in any jurisdiction except in accordance with the legal requirements applicable in such jurisdiction. Recipients should inform themselves of the restrictions that apply in their own jurisdiction. A failure to do so may result in a violation of securities laws in such jurisdiction.

This presentation does not constitute investment advice and has been prepared without taking into account the recipient's investment objectives, financial circumstances or particular needs and the opinions and recommendations

in this presentation are not intended to represent recommendations of particular investments to particular persons. Recipients should seek professional advice when deciding if an investment is appropriate. All securities

transactions involve risks, which include (among others) the risk of adverse or unanticipated market, financial or political developments. To the fullest extent permitted by law, TNG Ltd, its officers, employees, agents and advisers

useany new information or data that materially affects the information included in the original market announcement and that all material assumptions and technical parameters underpinning the Mineral Resource estimates in the relevant market announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person's findings are represented have not been materially modified from the original market announcement.

COMPETENT PERSON'S STATEMENTS

The information in this presentation that relates to the Mount Peake Mineral Resource estimates is extracted from an ASX Announcement dated 26 March 2013, (see ASX Announcement - 26 March 2013, "Additional Information

on the Mount Peake Resource", www.tngltd.com.au and www.asx.com.au ), and was completed in accordance with the guidelines of the JORC Code (2012). Initial mining and financial assessment work, based on the Mineral

Resource, followed (see ASX Announcement - 15 July 2013, "TNG Considers Two-Stage Development Option for Mount Peake Project, NT ", www.tngltd.com.au and www.asx.com.au). The Company confirms that it is not aware of

ersonalThe information in this presentation that relates to the Mount Peake Ore Reserve estimates is extracted from an ASX Announcement dated 31 July 2015, (see ASX Announcement - 31 July 2015, "Mount Peake Feasibility Results",

www.tngltd.com.au and www.asc.com.au) and was completed in accordance with the guidelines of the JORC Code (2012). The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and that all material assumptions and technical parameters underpinning the Ore Reserve estimates in the relevant market announcement continue to apply and have not m terially changed. The Company confirms that the form and context in which the Competent Person's findings are represented have not been materially modified from the original market announcement.

PRODUCTION TARGETS AND FINANCIAL INFORMATION

Inf rmation in relation to the Mount Peake Definitive Feasibility, including production targets and financial information, included in this report is extracted from an ASX Announcement dated 11 September 2019 called "Optimised Delivery Strategy for Mount Peake" available on the Company's website on www.tngltd.com.au. The Company confirms that all material assumptions underpinning the production target and financial information set out in the announcement released on 11 September 2019 continue to apply and have not materially changed.

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TNG Limited Structure

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TNG Limited

TIVAN® Technology Pty Ltd

Enigma Mining Limited

TNG Energy Pty Ltd

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(100% TNG Limited)

(100% TNG Limited)

(100% TNG Limited)

TIVAN® Process

Mount Peake Mine

Green

VRFB

ersonal

Hydrogen

Cawse Extended

Ni/Co

➢TNG owns all mining, exploration and ancillary licences 100%

➢TNG owns TIVAN® process and patents 100%

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