VOLT GROUP LIMITED — Capital/Financing Update 2016

Oct 12, 2016

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ASX ANNOUNCEMENT

13 October 2016

UPDATE ON NEGOTIATIONS WITH ECM TO EXTEND TRANSACTION END DATE

Enerji Ltd (ASX:ERJ) (‘Enerji’ or the ‘Company’) provides the following update in respect to the negotiations with ECM Pty Ltd (‘ECM’) to extend the end date for the conditions precedent to the Subscription Agreement entered into between the Company and ECM to be satisfied.

As previously advised, the Subscription Agreement entered into with ECM provides for an end date to satisfy the conditions precent to the transaction of 31 October 2016. Given the statutory notice period to call a general meeting of shareholders being 31 days (inclusive of mailing), the Company will be unable to satisfy the conditions by the end date.

Current discussions with ECM suggest that in order to extend the end date, the existing terms of the Subscription Agreement are likely to be amended, including the following:

• a reduction in the current subscription price of $0.015 to a price of $0.005; and

• An increase in the share placement subscription amount from $2.5m to $4.5m in lieu of a reduction in the convertible note placement amount from $2.0m to nil.

All existing conditions precedent will remain to be satisfied within a likely extended end date of 31 December 2016.

The Company will provide a further update once it has executed a new or amended Subscription Agreement.

-ENDS-

Further Information:

Adam Boyd Acting Chief Executive Officer +61 439 888 103

Unit B9, 431 Roberts Rd, Subiaco, Western Australia Phone: +61 8 9430 7522 | www.enerji.com.au ASX: ERJ