Mining Exploration Entity and Oil and Gas Exploration Entity Quarterly Report RENERGEN LIMITED Incorporated in the Republic of South Africa (Registration number: 2014/195093/06) JSE Share code: REN ISIN: ZAE000202610 Australian Business Number (ABN): 93 998 352 675 ASX Share code: RLT (“Renergen” or “the Company”) MINING EXPLORATION ENTITY AND OIL AND GAS EXPLORATION ENTITY QUARTERLY REPORT Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report Introduced 01/07/96 Origin Appendix 8 Amended 01/07/97, 01/07/98, 30/09/01, 01/06/10, 17/12/10, 01/05/13, 01/09/16 Name of entity RENERGEN LIMITED ABN Quarter ended (“current quarter”) 93998352675 31 August 2019 Consolidated statement of cash flows Current quarter Year to date (6 ZAR’000 months) ZAR’000 1. Cash flows from operating activities 1.1 Receipts from customers 536 1 152 1.2 Payments for (a) exploration & evaluation (81) (1 235) (b) development - - (c) production (911) (1 888) (d) staff costs (7 146) (12 999) (e) administration and corporate costs (1 013) (2 161) 1.3 Dividends received (see note 3) - - 1.4 Interest received 1 120 2 593 1.5 Interest and other costs of finance paid (21) (166) 1.6 Income taxes paid - - Consolidated statement of cash flows Current quarter Year to date (6 ZAR’000 months) ZAR’000 1.7 Research and development refunds - - 1.8 Other (provide details if material) (3 531) (21 247) - Capital raising costs 1.9 Net cash from / (used in) operating (11 047) (35 951) activities 2. Cash flows from investing activities 2.1 Payments to acquire: (a) property, plant and equipment (8 553) (10 884) (b) tenements (see item 10) - - (c) investments - - (d) other non-current assets (1 514) (4 701) 2.2 Proceeds from the disposal of: (a) property, plant and equipment - - (b) tenements (see item 10) - - (c) investments - - (d) other non-current assets - - 2.3 Cash flows from loans to other entities - - 2.4 Dividends received (see note 3) - - 2.5 Other (provide details if material) (9 256) (9 256) - Purchase of options R9.2 million 2.6 Net cash from / (used in) investing (19 323) (24 841) activities 3. Cash flows from financing activities 3.1 Proceeds from issues of shares 102 984 102 984 3.2 Proceeds from issue of convertible - - notes 3.3 Proceeds from exercise of share - - options 3.4 Transaction costs related to issues of (6 490) (6 490) shares, convertible notes or options 3.5 Proceeds from borrowings - - 3.6 Repayment of borrowings - - Consolidated statement of cash flows Current quarter Year to date (6 ZAR’000 months) ZAR’000 3.7 Transaction costs related to loans and - - borrowings 3.8 Dividends paid - - 3.9 Other (provide details if material) (310) (618) 3.10 Net cash from / (used in) financing 96 184 95 876 activities 4. Net increase / (decrease) in cash and cash equivalents for the period 4.1 Cash and cash equivalents at beginning of period 71 216 97 956 4.2 Net cash from / (used in) operating (11 047) (35 951) activities (item 1.9 above) 4.3 Net cash from / (used in) investing (19 323) (24 841) activities (item 2.6 above) 4.4 Net cash from / (used in) financing 96 184 95 876 activities (item 3.10 above) 4.5 Effect of movement in exchange rates (3 571) (3 581) on cash held 4.6 Cash and cash equivalents at end of 133 459 129 459 period 5. Reconciliation of cash and cash Current quarter Previous quarter equivalents ZAR’000 ZAR’000 at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts 5.1 Bank balances 461 5 300 5.2 Call deposits 132 998 65 916 5.3 Bank overdrafts - - 5.4 Other (provide details) - - 5.5 Cash and cash equivalents at end of 133 459 71 216 quarter (should equal item 4.6 above) 6. Payments to directors of the entity and their associates Current quarter ZAR'000 6.1 Aggregate amount of payments to these parties included in 2 615 item 1.2 6.2 Aggregate amount of cash flow from loans to these parties - included in item 2.3 6.3 Include below any explanation necessary to understand the transactions included in items 6.1 and 6.2 Salary payments made to executive directors in the last three months. Non-executive directors are paid bi- annually. 7. Payments to related entities of the entity and their Current quarter associates ZAR'000 7.1 Aggregate amount of payments to these parties included in - item 1.2 7.2 Aggregate amount of cash flow from loans to these parties - included in item 2.3 7.3 Include below any explanation necessary to understand the transactions included in items 7.1 and 7.2 8. Financing facilities available Total facility Amount drawn at Add notes as necessary for an amount at quarter quarter end understanding of the position end ZAR’000 ZAR’000 8.1 Loan facilities - - 8.2 Credit standby arrangements 4 000 - 8.3 Other (please specify) - - 8.4 Include below a description of each facility above, including the lender, interest rate and whether it is secured or unsecured. If any additional facilities have been entered into or are proposed to be entered into after quarter end, include details of those facilities as well. R4 million bank guarantee with Lombard insurance for the environmental rehabilitation and restoration provision. The bank guarantee is unsecured. Signed a loan agreement for US$40 million (R600 million) with the Overseas Private Investment Corporation (OPIC) after August 2019. First disbursement expected in the beginning of October 2019. 9. Estimated cash outflows for next quarter ZAR’000 9.1 Exploration and evaluation (14 623) 9.2 Development - 9.3 Production (816) 9.4 Staff costs (6 072) 9.5 Administration and corporate costs (282) 9.6 Other (provide details if material) (17 385) - Settlement of convertible note R5million - Costs associated with the construction of the new plant R12 million 9.7 Total estimated cash outflows (39 178) 10. Changes in Tenement reference Nature of Interest at Interest at end tenements and location interest beginning of quarter (items 2.1(b) of quarter and 2.2(b) above) 10.1 Interests in N/A N/A N/A N/A mining tenements and petroleum tenements lapsed, relinquished or reduced 10.2 Interests in N/A N/A N/A N/A mining tenements and petroleum tenements acquired or increased Compliance statement 1 This statement has been prepared in accordance with accounting standards and policies which comply with Listing Rule 19.11A. 2 This statement gives a true and fair view of the matters disclosed. Notes 1. The quarterly report provides a basis for informing the market how the entity’s activities have been financed for the past quarter and the effect on its cash position. An entity that wishes to disclose additional information is encouraged to do so, in a note or notes included in or attached to this report. 2. If this quarterly report has been prepared in accordance with Australian Accounting Standards, the definitions in, and provisions of, AASB 6: Exploration for and Evaluation of Mineral Resources and AASB 107: Statement of Cash Flows apply to this report. If this quarterly report has been prepared in accordance with other accounting standards agreed by ASX pursuant to Listing Rule 19.11A, the corresponding equivalent standards apply to this report. 3. Dividends received may be classified either as cash flows from operating activities or cash flows from investing activities, depending on the accounting policy of the entity. 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