Shareholder Update Resource Generation Limited Registered in Australia under the Corporations Act, 2001 (Cth) with registration number ACN: 059 950 337 ISIN: AU000000RES1 Share Code on the ASX: RES Share Code on the JSE: RSG (“Resource Generation” or the “Company”) 31st May 2017 ASX Announcement Shareholder Update All party meeting Reference is made to the Shareholder Update dated 4th May 2017 (the Announcement) wherein it was advised that an ‘all party’ meeting to finalise the major contracts was planned for mid-May. After consultation with all parties the meeting was fixed for 25th May 2017. Unfortunately not all the parties we are able to commit to meet on the 25th May 2017 as anticipated, and the meeting has now been rescheduled for 14th June 2017. On this basis there will be a delay of approximately one month before the contracts are finalised and the lenders are able to commence their credit approval processes. Major Contracts In the interim the outstanding work on the Mining contract and Ancillary Works contract referred to in the Announcement has been completed and these contracts will be ready for submission to the lenders in a mature form by 31st May 2017 and will be reviewed at the 14th June meeting. Rail Link DBSA has submitted its application for credit approval and a determination is expected in early June. Transnet Freight Rail (TFR) has advised that it has received internal approval for the construction of the Network Stabilising Facility (NSF) which forms an integral part of the link between the main line to Richards Bay and the Boikarabelo Mine. TFR has mobilised its contractors and they are expected to be on-site by 30th June 2017. Construction of the NSF is scheduled to commence on 1st July 2017 and to be completed by 30th September 2017. Resource Generation Australia (ACN 059 950 337) c/o Level 1, 17 Station Road, Indooroopilly, QLD, 4068 GPO Box 126, Albion QLD 4010. Phone +27 (012) 345 1057 Fax +27 (012) 345 5314 Directors: Denis Gately (Chairman), Lulamile Xate (Deputy Chairman), Robert Croll, Dr. Konji Sebati, Colin Gilligan, Leapeetswe Molotsane, Manish Dahiya www.resgen.com.au CEO: Rob Lowe Company secretary: Mike Meintjes Noble Group Limited Approvals have been obtained to effect the second draw down under the extended Noble Facility Agreement, notified to the market on 14th March 2017, ahead of schedule. Other In order to accommodate the delay in the all party meeting the next board meeting will be postponed to a date to be fixed in July. Yours sincerely Denis Gately Chairman For and on behalf of the Board About Resgen: Resource Generation Limited (Resgen) is an emerging ASX and JSE-listed energy company, currently developing the Boikarabelo Coal Mine in South Africa’s Waterberg region. The Waterberg accounts for around 40% of the country’s currently known coal resources. The Coal Resources and Reserves for the Boikarabelo Coal Mine, held through the operating subsidiary Ledjadja Coal, were recently updated based upon a new mine plan and execution strategy. The Boikarabelo Coal Resources total 995Mt and the Coal Reserves total 267Mt applying the JORC Code 2012 (ASX Announcement: 23 January 2017. In accordance with Listing Rule 5.23.2 the Company confirms that it is not aware of any new information that would impact on the reported Coal Resources and Coal Reserves for Boikarabelo). Stage 1 of the mine development targets saleable coal production of 6 million tonnes per annum. Ledjadja Coal is a Black Economic Empowerment subsidiary (BEE) operating under South Africa’s Broad-based Black Economic Empowerment Act, Section 9(5): Codes of Good Practice ResGen’s primary shareholders are the Public Investment Corporation of South Africa (PIC), Noble Group and Altius Investment Holdings. For further information please contact: Mike Meintjes, Company Secretary on mmeintjes@resgen.com.au or +61 413 706 143 Media enquiries: Australia: Martin Debelle on + 61 282 340 102 PAGE 2 South Africa: Charmane Russell/Thembisa Kotobe on +27 11 880 3924 JSE Sponsor: Deloitte & Touche Sponsor Services (Pty) Ltd PAGE 3 Date: 31/05/2017 09:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.