This document has been prepared in connection with a proposed capital raising offer by Tennant Minerals Limited ("Company") and is indicative only. All terms and conditions are subject to change at the sole discretion of the Company or GBA Capital Pty Ltd (ABN 51 643 039 123) ("GBA") (Corporate Authorised Representative of Australian Financial Services Licence No 544 680). Please note that this document and the information contained in it is both price sensitive and confidential and must not be distributed or disclosed to any other party without the prior written approval of GBA. The information in this document does not purport to be complete nor does it contain all the information which a prospective investor may require in evaluating a possible investment in the Company or that would be required in a prospectus or product disclosure statement prepared in accordance with the requirements of the Corporations Act 2001 (Cth) ("Corporations Act"). All and any recipients of any information in relation to the Company or the capital raising from the Company or GBA acknowledge and agree that they have conducted their own due diligence investigations in respect of the Company and have not relied upon any representations of the Company or GBA and their officers, employees, advisers, or agents. The Company and GBA make no implied or express representation or warranty as to the accuracy, currency, reliability, or completeness of the information contained in any investor presentation or the presentations made at any roadshow meetings (virtual or in person) or other communications and expressly disclaim any liability arising from the same (including, without limitation, errors or omissions). Insofar as any party passes on information from the same, the Company and GBA and their officers, employees, advisers, or agents expressly disavow the accuracy of such information. You confirm by bidding for an allocation in the capital raising that you act and have acted entirely on the basis of your own investigations and decisions and your own independent evaluation of the Company and not in reliance on any act or representation made by the Company or GBA. This document has been prepared by GBA in connection with a proposed offer of securities in the Company. This document has been distributed in confidence and may not be reproduced or disclosed to any other person. If you are not the intended recipient of this document, please notify GBA immediately and destroy all copies of this document. By retaining this document, you warrant to GBA that you are an investor eligible to participate in the offer, meaning that if you are in: a) Australia: you are either a sophisticated investor within the meaning of section 708(8) of the Corporations Act or a professional investor within the meaning of section 708(11) of the Corporations Act or an experienced investor within the meaning of section 708(10) of the Corporations Act; or b) Hong Kong: you are a "professional investor" as defined under the Securities and Futures Ordinance of Hong Kong, Chapter 571 of the Laws of Hong Kong. c) New Zealand: you are a person who is either (i) is an investment business within the meaning of clause 37 of Schedule 1 of the Financial Markets Conduct Act 2013 (New Zealand) (the "FMC Act"), (ii) meets the investment activity criteria specified in clause 38 of Schedule 1 of the FMC Act, (iii) is large within the meaning of clause 39 of Schedule 1 of the FMC Act, (iv) is a government agency within the meaning of clause 40 of Schedule 1 of the FMC Act, or (v) is an eligible investor within the meaning of clause 41 of Schedule 1 of the FMC Act; d) Singapore: you are an "institutional investor" or an "accredited investor" (as such terms are defined in the Securities and Futures Act of Singapore ("SFA"); or e) United Kingdom: you are a "qualified investor" within the meaning of Section 86(7) of the United Kingdom Financial Services and Markets Act 2000 and within the categories of persons referred to in Article 19(5) (investment professionals) or Article 49(2)(a) to (d) (high net worth companies, unincorporated associations, etc.) of the United Kingdom Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended. This document has been provided to you on the basis that you are an eligible investor as described above. If that is not the case, you must immediately return this document. You will be required to provide usual warranties in relation to the above in any confirmation letter you may receive. You acknowledge and agree that: a) while the bookbuild is open, all bids (whether via email or phone) will represent legally binding and irrevocable offers to subscribe for a number of securities up to the maximum amount for which a bid is made, at the offer price and will be capable of acceptance in full or in part; b) on closing of the bookbuild, all existing bids in the bookbuild will represent legally binding and irrevocable final offers to subscribe for a number of securities up to the maximum amount for which a bid is made, at the offer price and will be capable of immediate acceptance in full or in part; and c) acceptance of your bid and allocation (if any) will be notified to you and will form your contract. The Company, GBA, and their respective officers, employees, advisers, and agents, make no recommendation as to whether you should participate in the capital raising nor do they make any recommendation or warranty to you concerning the shares or the accuracy, reliability, or completeness of the information provided or the performance of the Company. This document is intended to provide background information only and does not purport to make any recommendation upon which you may reasonably rely without taking further and more specific advice. This document is not an offer, invitation, solicitation, or recommendation with respect to the subscription for, purchase, or sale of any security, and neither this document nor anything in it shall form the basis of any contract or commitment. Prospective investors should undertake their own independent evaluation of an investment in the Company. The Master ECM Terms available from GBA or from https://afma.com.au/standards/standard-documentation, will apply to this Offer. The securities proposed to be issued by the Company have not been and will not be registered under the US Securities Act of 1933, as amended ("Securities Act"), or under the securities laws of any state of the United States. Accordingly, the securities may not be offered or sold, directly or indirectly, within the United States (as defined in Regulation S under the Securities Act) or to U.S. Persons (as defined in Regulation S under the Securities Act) ("US Persons"), and this document is not to be distributed within or to the United States. The distribution of this document may otherwise be restricted by securities law in your jurisdiction and you should observe any such restrictions. A failure to comply with any such restrictions may constitute a violation of law. Disclosures GBA and its officers, employees, advisers, and agents advise that they and persons associated with them may hold or otherwise have an interest in securities of the Company and that they may earn brokerage, commissions, fees, and other benefits and advantages, whether pecuniary or not and whether direct or indirect, in connection with the making of a recommendation for dealing by a client in these securities, and which may reasonably be expected to be capable of having an influence in the making of any recommendation, and that some or all of our representatives could be remunerated wholly or partly by way of commission. GBA will receive a 6% capital raising fee for the total proceeds raised in the Placement offer as well as up to 27.5m Joint Lead Manager Options which are $0.048 Exercise Price and Expiry Date of 31 Dec 2027.