TNG BoD email

Do I sense some desperation?

TNG LIMITED 2018 GENERAL MEETING AND AGM – 29 NOVEMBER 2018

• YOUR VOTE IS REQUIRED AT THIS IMPORTANT STAGE OF THE COMPANY’S DEVELOPMENT
• THE BOARD RECOMMENDS YOU VOTE IN FAVOUR OF ALL AGM RESOLUTIONS
• THE BOARD RECOMMENDS YOU VOTE AGAINST THE GENERAL MEETING RESOLUTION

• PROXY VOTING CLOSES AT 10.30AM (PERTH TIME) ON 27 NOVEMBER

Dear Shareholder,

All TNG shareholders have been sent two sets of meeting materials covering the upcoming General Meeting and AGM (Annual General Meeting), both of which are being held on 29 November 2018.

TNG's Board is encouraging shareholders to vote at both meetings and your vote is important.

The Board is recommending that shareholders vote:

1. FOR all the 8 AGM resolutions; and

1. AGAINST the 1 General Meeting resolution to remove Mr Turkington as a director.

The Notices of Meeting provide all the information shareholders need to decide how to vote and the TNG Board encourages shareholders to read both documents carefully and in full.

As you may be aware from recent Company releases to the ASX, TNG has made significant progress this year as it advances development planning for its flagship Mount Peake Vanadium-Titanium-Iron Project in the NT. Recent milestones include:

• Federal approval of its Environmental Impact Study for the Mount Peake Project;
• Execution of a Native Title Mining Agreement;
• Execution of a binding term sheet for titanium dioxide off-take;
• Appointment of SMS Group to commence engineering and design for the entire Mount Peake Project.

These recent developments demonstrate that TNG's Board and management team are progressing pre-development activities on a number of fronts and are working hard for TNG and its shareholders to meet the Company's business objectives and build shareholder value while positioning the Company for a productive 2019.

The Board is therefore seeking shareholder support to enable it to continue its work for the benefit of the Company and all shareholders. If you would like to support the Board's recommendations then you can simply appoint the Chairman as your proxy on both proxy forms, sign and return them.

General Meeting – Notice of Meeting
https://www.asx.com.au/asxpdf/20181015/pdf/43z8msmy713jxr.pdf

AGM – Notice of Meeting
https://www.asx.com.au/asxpdf/20181016/pdf/43z8rm04h19zvp.pdf

If you cannot attend the AGM in person, you can vote online at www.investorvote.com.au by using the control number 132068 for the AGM and 132250 for the General Meeting. Or you can vote by completing, signing and lodging your proxy forms according to the instructions on the form.

Please note that the proxy voting deadline is 10:30am (Perth time) on Tuesday 27 November 2018.

If you require a replacement Proxy Forms, please reply to this email with ‘replacement Proxy Forms’ or alternatively call the TNG Limited Share Registry (Computershare Investor Services) on 1300 850 505 (within Australian) or +61 3 9415 4000 (outside Australia).
Yours sincerely,

TNG Limited