Thorney Opportunities : 2022 Half-Year Results Presentation Slides

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THORNEY OPPORTUNITIES LTD

1H22 Results

February 2022

DISCLAIMER

	This presentation has been prepared by Thorney Opportunities Ltd "TOP" and does not constitute or form	Neither TOP nor any other person accepts any liability and TOP, its related bodies corporate and their
	part of, and should not be construed as, an offer, solicitation or invitation to subscribe for, underwrite or	respective directors, officers and employees, to the maximum extent permitted by law, expressly disclaim
	otherwise acquire, any securities of TOP or any member of its group nor should it or any part of it form	all liabilities for any loss howsoever arising, directly or indirectly, from this presentation or its contents.
	the basis of, or be relied on in connection with, any contract to purchase or subscribe for any securities of	This presentation includes forward-looking statements that reflect TOP's intentions, beliefs or current
	TOP or any member of its group, nor shall it or any part of it form the basis of or be relied on in
	expectations concerning, among other things, TOP's results of operations, financial condition, liquidity,
	co	ection with any contract or commitment whatsoever.
	performance, prospects, growth, strategies and the industry in which TOP operates. These forward-
	This presentation is not a prospectus, product disclosure statement or other disclosure document under	looking statements are subject to risks, uncertainties and assumptions and other factors, many of which
	Australian law (or any other law), and has not been lodged with the Australian Securities and Investments	are beyond the control of TOP. TOP cautions you that forward-looking statements are not guarantees of
	C	mmission (or any other regulatory body in Australia or abroad). This presentation contains summary	future performance and that its actual results of operations, financial condition, liquidity, performance,
onlyinf rmation about TOP and its activities, which is current as at the date of this presentation. The	prospects, growth or opportunities and the development of the industry in which TOP operates may differ
	information included in this presentation is of a general nature and does not purport to be complete nor	materially from those made in or suggested by the forward-looking statements contained in this
	do	s it contain all the information which a prospective investor should consider when making an	presentation. In addition, TOP does not guarantee any particular rate of return or the performance of TOP
	inv stment decision. Each recipient of this presentation should make its own enquiries and investigations	nor does it guarantee the repayment or maintenance of capital or any particular tax treatment. Investors
	r garding all information in this presentation including but not limited to the assumptions, uncertainties	should note that past performance may not be indicative of results or developments in future periods and
	and contingencies which may affect future operations of TOP and the impact that different future	cannot be relied upon as an indicator of (and provides no guidance as to) TOP's future performance.
	outcomes may have on TOP. This presentation has been prepared without taking account of any	TOP, its related bodies corporate and each of their respective directors, officers and employees
	person's investment objectives, financial situation or particular needs. Before making an investment	expressly disclaim any obligation or undertaking to review, update or release any update of or revisions
	decision, prospective investors should consider the appropriateness of the information having regard to	to any forward-looking statements in this presentation or any change in TOP's expectations or any
usetheir own objectives, financial situation and needs, make their own assessment of the information and	change in events, conditions or circumstances on which these forward-looking statements are based,
	seek legal, financial, accounting and taxation advice appropriate to their jurisdiction in relation to the	except as required by applicable law or regulation.
	information and any action taken on the basis of the information.
ersonal	This presentation and any materials distributed in connection with this presentation are not directed to, or
	The information included in this presentation has been provided to you solely for your information and	intended for distribution to or use by, any person or entity that is a citizen or resident or located in any
	b	ckground and is subject to updating, completion, revision and amendment and such information may	locality, state, country or other jurisdiction where such distribution, publication, availability or use would
	ch	nge materially. Unless required by applicable law or regulation, no person (including TOP) is under	be contrary to law or regulation or which would require any registration or licensing within such
	a	y obligation to update or keep current the information contained in this presentation and any opinions	jurisdiction.
	expressed in relation thereto are subject to change without notice. No representation or warranty,	The distribution of this presentation in certain jurisdictions may be restricted by law and persons into
	express or implied, is made as to the fairness, currency, accuracy, reasonableness or completeness of
	whose possession this presentation comes should inform themselves about and observe any such
	the information contained herein.
	restrictions.
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ABOUT TOP

Thorney Opportunities Ltd (TOP) is an ASX-listed investment company that invests in listed and unlisted equities and financial assets, in a variety of sectors, including media, automotive, energy, engineering and mining services and financial services.

Our primary focus is on the careful selection of investments which enables

us to be a constructive catalyst towards unlocking the value in the companies identified. TOP is managed by the privately owned Thorney Investment Group pursuant to a long-term investment management agreement.

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INVESTMENT OBJECTIVES

01	02
Producing absolute	Delivering a strong
returns for shareholders	fully franked
over the medium- to	dividend stream to
long-term	shareholders

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OUR INVESTMENT PHILOSOPHY

We undertake thorough due diligence to identify

fundamentally mispriced or undervalued

companies and combine that with constructive advocacy with boards and management to implement change when required.

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