Tungsten Corporation Investor Presentation — July 2017

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RESULTS FOR THE YEAR ENDED 30 APRIL 2017 (FY17)

© Copyright Tungsten Corporation plc 2017Tungsten Corporation plcIMPORTANT INFORMATION

© Copyright Tungsten Corporation plc 2017 2This document contains forward -looking statements that may or may not prove accurate. For example, statements regarding expecte d revenue growth

and trading margins, market trends and our product pipeline are forward -looking statements. Phrases such as "aim", "plan", "int end", "anticipate", "well -

placed", "believe", "estimate", "expect", "target", "consider" and similar expressions are generally intended to identify for ward-looking

statements. Forward -looking statements involve known and unknown risks, uncertainties and other important factors that could ca use actual results to

differ materially from what is expressed or implied by the statements. Any forward -looking statement is based on information av ailable to Tungsten as of

the date of this statement. All written or oral forward -looking statements attributable to Tungsten are qualified by this cauti on. Tungsten does not

undertake any obligation to update or revise any forward -looking statement to reflect any change in circumstances or in Tungsten ’s expectations.

This document is confidential. Unauthorised use, copying or disclosure is not allowed.

This presentation does not constitute an invitation to underwrite, subscribe for or otherwise acquire or dispose of any secur ities in Tungsten Corporation

plc or in any company within the Tungsten group in any jurisdiction.RICHARD HURWITZ

CHIEF EXECUTIVE OFFICER

© Copyright Tungsten Corporation plc 2017 3Demonstrating strong revenue growth and control

© Copyright Tungsten Corporation plc 2017 4

FY17 financial highlights

+21% to £31.3 million

+12% at constant exchange rates

down by £4.4 million to £11.8 million

down by £14.7 million to £12.5 million

Net cash and invoice receivables2up £12.5m to £21.8 million

1EBITDA is defined as operating loss before depreciation, amortisation, impairment, discontinued

operations and share -based payments changes

2Transitional financing prior to implementation of additional funding arrangements with partners, with

outstanding balance amounting to £35,000 at 21 July 2017Helping to remove friction from the global supply

chain efficiently and securely

© Copyright Tungsten Corporation plc 2017 5WorkflowInvoicing services

Purchase order services

Supply chain financing

Cross border payments

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