Ann: TNG Executes Binding Offtake terms for its Titanium Pigment, page-3

Key Points
• Binding Term Sheet for the life-of-mine off-take of TNG’s TiO2 pigment production.
• DKSH will provide a full distribution service, including freight financing (delivery to DKSH FOB Darwin), technical support, logistics, marketing and sales for TNG’s TiO2 product(s) from the Mount Peake Vanadium-Titanium-Iron Project.
• TNG will sell and DKSH will purchase up to 100% of TNG’s TiO2 production on an FOB basis for DKSH to distribute globally, excluding the Iberian Peninsula and European Nordic countries.
• TNG will initially produce a high-durability pigment for the outdoor coating industry, which represents the largest pigment market, before expanding to other high-value niche markets.
• TNG and DKSH have agreed to move towards a Binding Off-take Agreement reflecting these key points.
• TNG already has binding life-of-mine off-take agreements in place for vanadium with Korean group Woojin (2015) and for iron products with Gunvor (2016).
• The finalisation of a binding off-take agreement for titanium dioxide production means that TNG has binding sales contracts in place for all three of its high-value products, supporting its funding and commercialisation strategy for the Mount Peake Project.