Triangle Energy Global : Response to ASX Price Query

16 September 2020

Mr Sean Maloney

Adviser, Listings Compliance

ASX Limited

Level 40, Central Park

152-158 St Georges Terrace

PERTH WA 6000

Dear Mr Maloney,

I refer to the ASX price query dated 16 September 2020 and respond as follows (using your numbering):

1. Triangle Energy (Global) Limited (Triangle or the Company) (ASX:TEG) is not aware of any information concerning it which has not been announced to the market which, if known by some in the market, could explain the recent trading in its securities.
2. Not applicable.
3. No, the Company is not aware of any explanation for the price change in the Company's securities, other than to note that State Gas Limited (ASX:GAS), in which the Company has a substantial shareholding (approximately 32.5%), released an announcement today entitled, "Exponential Increase in Gas Flow at Nyanda - 4 Reids Dome", in which it is stated that the gas flow rates at its Nyanda-4 well at the Reids Dome Gas Project (PL 231) have increased exponentially since State Gas's last production update on Friday 11 September 2020.
4. The Company confirms that it is in compliance with the Listing Rules, and in particular, Listing Rule 3.1.
5. The Company confirms that the above responses have been authorised and approved in accordance with its published continuous disclosure policy.

Yours sincerely

[sent electronically without signature]

Robert Towner

Managing Director

Triangle Energy (Global) Limited ABN 52 110 411 428triangleenergy.com.au

Suite 2, 100 Havelock St, West Perth WA 6005 | PO Box 51 West Perth WA 6872 Australia

1. [phone]

16 September 2020

Reference: 24465

Ms Lucy Rowe

Company Secretary

Triangle Energy (Global) Limited

By email: [e-mail]

Dear Ms Rowe

Triangle Energy (Global) Limited ('TEG'): Price - Query

ASX refers to the following:

1. The change in the price of TEG's securities from a low of $0.0285 to an intraday high of $0.036 today at the timing of writing.
2. The significant increase in the volume of TEG's securities traded from yesterday to today.

Request for information

In light of this, ASX asks TEG to respond separately to each of the following questions and requests for information:

1. Is TEG aware of any information concerning it that has not been announced to the market which, if known by some in the market, could explain the recent trading in its securities?
2. If the answer to question 1 is "yes".
3. 1. Is TEG relying on Listing Rule 3.1A not to announce that information under Listing Rule 3.1? Please note that the recent trading in TEG's securities would suggest to ASX that such information may have ceased to be confidential and therefore TEG may no longer be able to rely on Listing Rule 3.1A. Accordingly, if the answer to this question is "yes", you need to contact us immediately to discuss the situation.
   2. Can an announcement be made immediately? Please note, if the answer to this question is "no", you need to contact us immediately to discuss requesting a trading halt (see below).
   3. If an announcement cannot be made immediately, why not and when is it expected that an announcement will be made?
4. If the answer to question 1 is "no", is there any other explanation that TEG may have for the recent trading in its securities?
5. Please confirm that TEG is complying with the Listing Rules and, in particular, Listing Rule 3.1.
6. Please confirm that TEG's responses to the questions above have been authorised and approved under its published continuous disclosure policy or otherwise by its board or an officer of TEG with delegated authority from the board to respond to ASX on disclosure matters.

When and where to send your response

This request is made under Listing Rule 18.7. Your response is required as soon as reasonably possible and, in any event, by no later than 4:30 PM AWST Wednesday, 16 September 2020. You should note that if the information requested by this letter is information required to be given to ASX under Listing Rule 3.1 and it

ASX Limited [[Listings]]

ASX Customer Service Centre 131 279 | asx.com.au

does not fall within the exceptions mentioned in Listing Rule 3.1A, TEG's obligation is to disclose the information 'immediately'. This may require the information to be disclosed before the deadline set out in the previous paragraph and may require TEG to request a trading halt immediately.

Your response should be sent to me by e-mail at [e-mail]. It should not be sent directly to the ASX Market Announcements Office. This is to allow me to review your response to confirm that it is in a form appropriate for release to the market, before it is published on the ASX Market Announcements Platform.

Trading halt

If you are unable to respond to this letter by the time specified above, or if the answer to question 1 is "yes" and an announcement cannot be made immediately, you should discuss with us whether it is appropriate to request a trading halt in TEG's securities under Listing Rule 17.1. If you wish a trading halt, you must tell us:

• the reasons for the trading halt;
• how long you want the trading halt to last;
• the event you expect to happen that will end the trading halt;
• that you are not aware of any reason why the trading halt should not be granted; and
• any other information necessary to inform the market about the trading halt, or that we ask for.

We require the request for a trading halt to be in writing. The trading halt cannot extend past the commencement of normal trading on the second day after the day on which it is granted. You can find further information about trading halts in Guidance Note 16 Trading Halts & Voluntary Suspensions.

Suspension

If you are unable to respond to this letter by the time specified above, ASX will likely suspend trading in TEG's securities under Listing Rule 17.3.

Listing Rules 3.1 and 3.1A

In responding to this letter, you should have regard to TEG's obligations under Listing Rules 3.1 and 3.1A and also to Guidance Note 8 Continuous Disclosure: Listing Rules 3.1 - 3.1B. It should be noted that TEG's obligation to disclose information under Listing Rule 3.1 is not confined to, nor is it necessarily satisfied by, answering the questions set out in this letter.

Release of correspondence between ASX and entity

We reserve the right to release a copy of this letter, your reply and any other related correspondence between us to the market under Listing Rule 18.7A.

Questions

If you have any questions in relation to the above, please do not hesitate to contact me.

Yours sincerely

Sean Maloney

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ASX Customer Service Centre 131 279 | asx.com.au

Adviser, Listings Compliance (Perth)

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ASX Customer Service Centre 131 279 | asx.com.au