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” or “the Group”)



COMPLETION OF CONDITIONS OF INVESTMENT BY AIRSOL S.R.L


Renergen is pleased to announce the conditions precedent to the subscription of unsecured
convertible debentures by Airsol S.r.L, a wholly-owned subsidiary of SOL S.p.A (“SOL”), which
debentures are convertible into Renergen shares upon the completion of an initial public
offering by Renergen on the Nasdaq, have now been fulfilled, and SOL has now subscribed
for the remaining tranche of convertible debentures, bringing SOL’s total investment in
Renergen to a value of US$ 7 million.

As was previously reported in our earlier financial statements, SOL originally subscribed for
convertible debentures in Renergen for an amount of US$ 3 million. The remaining tranche of
convertible debentures in Renergen subscribed for by SOL for an amount of US$ 4 million
was subject to Renergen and Tetra4 Proprietary Limited implementing the recently announced
transaction with Mahlako Gas Energy Proprietary Limited (announced on 27 December 2023).

The transaction is strategic to both companies in that SOL is not only investing in Renergen,
but also brings a wealth of knowledge and expertise to the Company.

The SOL group was founded in Italy in 1927 and operates in 32 countries with more than
6,000 employees. The SOL group has a significant presence in the industrial gases market
including helium across the world. SOL also brings significant liquefied natural gas experience
to the table, complementing Renergen’s overall offering.

“We are proud to define and strengthen our long-term global partnership with Renergen,” said
Mr. Marco Annoni, Deputy Chairman and Managing Director of SOL. “This high-quality
investment meets our investment criteria and will help our Group secure future growth in the
most ambitious helium worldwide market. This investment will enhance our network capacity
to serve key industrial areas in the many countries we operate in.”

“The two groups have been working closely on this transaction for some time now, and it is
pleasing to see the results of the detailed technical due diligence culminate in what promises
to be a mutually beneficial transaction for both parties as SOL gains access to upstream
helium, and Renergen the benefit of technical partnerships as we roll out the Virginia Gas
Project,” said Stefano Marani, CEO of Renergen.


Johannesburg
20 March 2024
Authorised by: Stefano Marani
Chief Executive Officer

Designated Advisor
PSG Capital


To readers reviewing this announcement on the Stock Exchange News Service (SENS), this
announcement may contain graphics and/or images which can be found in the PDF version
posted on the Company’s website.

www.renergen.co.za

For all media relations please contact:
investorrelations@renergen.co.za

For all US investors and media relations please contact:
Georg Venturatos / Jared Gornay – Gateway Group, (949) 574-3860
Ren@gateway-grp.com