14 Jan

NTA Backing as at 31 December 2021

www.bel.com.au BENTLEY CAPITAL LIMITED A.B.N. 87 008 108 218 Level 2, 31 Ventnor Avenue, West Perth, Western Australia 6005 ASX : BEL T | (08) 9214 9757 F | (08) 9214 9701 E | info@bel.com.au Friday, 14 January 2022 ASX Code: BEL MARKET ANNOUNCEMENT NTA Backing as at 31 December 2021 Bentley Capital Limited (ASX Code: BEL) gives notice that its unaudited after-tax Net Tangible Assets ( NTA ) Backing as at 31 December 2021 was $0.1035 per share. Current Month Previous Month NTA Backing for Period Ending: % Change 31 December 2021 30 November 2021 Pre-Tax NTA Backing per share +12.13% $0.1035 $0.0923 Post-Tax NTA Backing per share +12.13% $0.1035 $0.0923 Based on total issued share capital 76,127,918 76,127,918 Bentley’s NTA position comprises the following items: Current Month Previous Month NTA Components: 31 December 2021 30 November 2021 $’m $’m Investment Strike Resources Limited (ASX:SRK) 5.91 5.21 Other listed securities 2.26 2.09 Managed funds 0.36 0.35 Cash 0.36 0.46 Exploration and evaluation expenditure 0.09 0.04 Net other assets/(liabilities) (1.10) (1.13) Net Tangible Asset 7.88 7.02 Bentley’s major securities holdings as at 31 December 2021 were: Security ASX Code/ Description Industry Sector Value $’m % of NTA Strike Resources Limited SRK Materials 5.91 75.0% Lithium Energy Limited LEL Materials 1.15 14.6% Yowie Group Ltd YOW Food, Beverage 1.10 14.0% Managed funds Unlisted Diversified 0.36 4.6% Other listed securities Various Various 0.01 0.1% Bentley has valued its 53,689,857 shareholding in Strike Resources Limited (ASX:SRK) based on the $0.11 last bid price as at 31 December 2021 (30 November 2021: $0. 97). Bentley notes that Strike’s current bid price was $0.145 (as at 14 January 2022). 20220114 BEL ASX NTA Backing as at 31 December 2021.docx - 2 - NOTES: (1) Bentley has accounted for its investment in SRK (53,689,857 shares being 19.89% of SRK’s total issued share capital) (30 November 2021: 53,689,857 shares; 19.89%) at a carrying value of $5.91 million (based on the closing bid price on ASX of 11 cents per share) at month end (30 November 2021: $5.21 million; 9.7 cents). (2) Units invested in unlisted managed funds are valued at the unit price published by the fund administrator as at month end – the unit price reflects the net asset backing of the fund. (3) The post-tax NTA Backing per share figure is reported net of provision for tax liabilities on realised and unrealised gains on investments, in accordance with the Company’s income tax accounting policy. Refer Note 5 (Tax) on pages 31 and 32 of Bentley’s 30 June 2021 Annual Report for further information in this regard. (4) Bentley’s current accounting policy is to recognise deferred tax assets arising from its carried forward tax losses and its unrealised loss on investments only to the extent of offsetting any deferred tax liabilities arising from its unrealised gains on investments. (5) Bentley’s current accounting policy uses the first in-first out method of calculating gains or losses on sales of share investments. AUTHORISED FOR RELEASE - FOR FURTHER INFORMATION: Victor Ho T | (08) 9214 9757 Company Secretary E | cosec@bel.com.au

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