I don't know, but other E Battalion tanks also carried painted flags or pennants. It is possibly a system for distinguishing between Sections and/or Companies and so the flags seen on 'Eve' may not be national flags at all. I have never seen this commented on before, so if anyone can shed any light it would be very interesting.
Thanks to one of my friends, my attention has been drawn to the peculiarly titled article "5th RTR in WW1" () by G. Dorman and D. Accid in the November 1981 edition of "Military Modelling" magazine.
Dormand and Accid say, "... the company commanders were to fly square flags and the section commanders pennants in the Battalion colours of red over Cambridge blue." This suggests that 'Eve' may have been a company commander's tank and that what we're seeing aren't tricolours but square flags divided with red over Cambridge blue (a light blue). This makes 'Ernest' a section commander's tank with a red and blue pennant. 'Edward' has a pennant but it does appear to have three sections and I can't presently explain that anomaly.