RENERGEN LIMITED - Phase 2 Senior Debt Approval

Phase 2 Senior Debt Approval

RENERGEN LIMITED
Incorporated in the Republic of South Africa
(Registration number: 2014/195093/06)
JSE Share code: REN
A2X Share code: REN
ISIN: ZAE000202610
LEI: 378900B1512179F35A69
Australian Business Number (ABN): 93 998 352 675
ASX Share code: RLT
("Renergen" or "the Company")

PHASE 2 SENIOR DEBT APPROVAL

Renergen, a natural gas and helium producer, is pleased to announce that it has received
approval from the United States International Development Finance Corporation for a US$500
million senior debt funding, subject to a completion of a mandatory Congressional notification
period, and a further US$250 million debt facility from the Standard Bank of South Africa for
the construction of Phase 2 of the Virginia Gas Project.
The loans are subject to standard conditions precedent for a loan of this nature, the material
ones being:

   •   United States Congressional notification
   •   The raising of sufficient equity funding by way of the Nasdaq IPO or other initiatives
   •   Approval by the Lenders of the preferred Engineering, Procurement and Construction
       (EPC) Contractor who demonstrates proven technical and financial capability for
       similar project size and scope
   •   Approval by the Lenders of the preferred operations and maintenance (O&M)
       contractor who demonstrates proven technical and financial capability for similar
       project size and scope for a minimum of five years

"Having achieved this major milestone bears testament to the quality of the Virginia Gas
Project and the impact it can have both locally and globally. The many months of hard work
are starting to lay the foundations for the Phase 2 plant, and we are excited to be working with
our partners in the US, and to be welcoming our new South African partners, Standard Bank,
on this exciting journey," said Stefano Marani, CEO of Renergen.

Johannesburg
7 June 2023

Authorised by: Stefano Marani
Chief Executive Officer

Designated Advisor
PSG Capital

Senior Debt Advisor
Cygnum Capital, formally Lion’s Head Group

www.renergen.co.za

Date: 07-06-2023 04:25:00
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