TFS Corporation Ltd. and Budding Innovations signed a Master Services Agreement (MSA) recently for the development of an innovative range of products extending across Every Day Health, Cosmetics & Beauty, Wound Care, Clean Air, and Ingestible products. This collaboration leverages the unique functional and safety properties of TFS Plantation Grown Pharmaceutical Grade Indian Sandalwood Oil (Santalum album) together with leading edge materials and delivery technologies. TFS is the world’s first and only producer of ethically&sustainably sourced pharmaceutical grade Indian Sandalwood Oil. Budding Innovations is headquartered in Singapore, a Health Sciences & Technology hub with unique global market access.

About TFS

TFS Corporation Ltd ("TFS", ASX: TFC) is an owner and manager of Indian sandalwood plantations in northern Australia. As part of its vision to be a vertically integrated producer of sandalwood products, TFS owns a significant proportion of the plantations in its own right. TFS also operates sandalwood processing and oil distribution facilities in Albany, Western Australia. TFS was originally founded to exploit the success of government trials into the plantation growth of Indian sandalwood in the Ord River Irrigation Area (ORIA) of north-east Western Australia. TFS now manages the largest area of commercial Indian sandalwood plantations in the world, with over 12,000 hectares planted of which TFS owns directly and indirectly over 3,500 hectares. TFS plantations are managed on behalf of both institutional, high net worth and MIS investors. In 2014, TFS completed its first commercial harvest of its Indian sandalwood plantations and now distributes globally with customers in Europe, China, USA and India, across a range of pharmaceutical, cosmetic, traditional medicine and timber markets. TFS also owns a pharmaceutical product development company, Santalis Pharmaceuticals Inc., focussed on developing dermatology products based on TFS Pharmaceutical Grade Indian Sandalwood Oil. The company listed on the Australian Stock Exchange in December 2004. Since March 2014, TFS has been an ASX300 company. TFS is committed to adopting and maintaining the highest environmental and ethical standards in all aspects of its business.

About Budding Innovations.

Budding Innovations Pte. Ltd. is a Singapore headquartered firm that focuses on Technology Commercialization by closing the maturity gap between new innovations and the needs of the market and its customers. The firm specializes in working with early to more matured stage technology owners, and translates the technology’s potential into a full go-to-market strategy, and the hands-on execution thereof. BI effectively takes technology to market and plays an active role in the end-to-end commercialization, through its bespoke strategic capability partner ecosystem, and wide market opportunity access. BI drives commercialization through eventually transferring appropriately matured programs to a corporate client, into a (self-)managed start-up, or driving a technology portfolio approach on behalf of our clients. Technology verticals center around Advanced materials, CleanTech, Life Sciences and MedTech. BI also offers entrepreneurial internship programs to young entrepreneurs, grows their skill sets and contributes towards building a vibrant start-up scene in Singapore.

For media inquiries at Budding Innovations please contact: Dr. Bert Grobben

Chief Executive Officer bert.grobben@budinno.com

For media inquiries at TFS Corporation Ltd. please contact:

Alistair Stevens

Chief Financial Officer

Alistair@tfsltd.com.au