Funding next-phase Tetra4 Virginia development May 2017

About us Listed as SPAC in June 2015 Acquired 90% of Molopo SA in November 2015 for c. ZAR 650mn Molopo rebranded to Tetra4 Tetra4 has: Concluded a helium take-or-pay with Linde Completed construction of first natural gas compression station in May 2016 Started selling compressed natural gas (CNG) to Megabus in May 2016 Updated reserve statement showing increased proven, probable and possible reserves Valuation of ZAR 6.6bn based on P1 discounted at 10%, and P2 discounted at 20% which equates to R77 per share

Our assets Natural Gas Helium Power 2 Hydroelectric power plants in development

Tetra4 Tetra4 is a natural gas producer that provides sustainable, clean energy solutions.

Business model “Wellhead to tank” model: ownership of end user in 4 spheres: Power generation Gas to power using small turbine, with heat recapture for steam generation for client Industrial users Substitution of significantly more expensive Liquid Petroleum Gas (LPG) with Compressed Natural Gas (CNG) Liquid fuel substitution Dual fuel applications for trucks and busses, reducing emissions and running costs Helium Off-take agreement with Linde Helium

Key features First and only onshore petroleum production right in SA – expires in 25 years Proven natural gas reserves, with 100 billion cubic feet (“BCF”) of Proven and Probable Independent reserve valuation* of ZAR 6.6bn, or ZAR 77/share Origin of gas unique, being combination of biogenic (produced by bacteria) and thermogenic (from the earth’s mantle) The bacterial action renewing the gas has resulted in field being classified as renewable Very high quality gas >90% methane, no other alkanes or condensates Exceptionally high helium content – over 2% Proven and Probable helium reserves of close to 9.2 million kilograms Low cost producer: wells are very low pressure, drilled to 400 meters using standard percussion drilling Finalisation and submission of the Environmental Impact Assessment for the construction of the pipeline In addition to Virginia Production Right, Tetra4 holds additional exploration rights in Evander which has two wells currently blowing

Venmyn Deloitte 2016 Economic assessment The following table represents Venmyn Deloitte’s industry standard discounted cash flow valuation based on the reserve, with a corresponding table below converting the values into a Renergen share price Valuation of Proved @ 10% + Probable @ 20% gives ZAR 6.6bn, or ZAR 77/share

IDC Loan Salient Features Amount ZAR 218mn Purpose Term 8 years Construction of pipeline Installation of power generation equipment Term 8 years Final term to draw August 2019 Conditions Precedent EIA Completion Final review of geology ZAR145mn equity contribution

Conclusion Successfully completed Phase One of Tetra4 Virginia development Completion of an uncontested Environmental Impact Assessment for the pipeline Securing financing for the pipeline and compression equipment On-track to implement Phase 2 increased production and output at Tetra4 Virginia Deliver production ramp-up in time to realise inferred value of ZAR 77 per share

Disclaimer All information contained in this document is strictly confidential. This document is not for general or public dissemination or discussion. All confidential information made available to, or obtained by, any of the parties in connection with the surveys and analysis undertaken as part of this transaction, or as a result of the implementation of this investigation, of any documents pursuant hereto which are not a matter of public knowledge or lawfully available from any other source, shall be and remain confidential between the parties during the term of this project and its related investigations. The parties shall take, or cause to be taken, all such reasonable precautions as may be necessary to prevent the disclosure of any information and data made available to them in relation to this project. Additionally, the parties agree to effect similar confidentiality undertakings in writing from any staff personnel who shall in the future be involved, or any additional personnel who may become involved at any future date

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