VOLT GROUP LIMITED — Capital/Financing Update 2016

Jun 7, 2016

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ASX ANNOUNCEMENT

8 June 2016

NON-BINDING INDICATIVE TERM SHEET WITH STRATEGIC PROJECT DEVELOPMENT PARTNER

Exclusive due diligence process ongoing

Enerji Ltd (ASX:ERJ)(‘Enerji’ or the ‘Company’) advises it has entered into a non-binding indicative term sheet (“Term Sheet”) with a large private, construction and engineering group (‘Engineering Group’) in relation to an equity investment in Enerji as well as a strategic partnership which is proposed to fund and develop the Jundee Project, Enerji’s first ATEN Heat Exchange Project.

At this stage, no binding commercial terms have been agreed and any formal agreements remain subject to a period of exclusive due diligence between the parties, which is currently ongoing.

The key indicative non-binding terms are as follows:

• Engineering Group will subscribe to a share placement for A$2,000,000 at a price $0.025 per share.

• Subject to shareholder approval (if required), Engineering Group to provide an A$2,000,000 convertible note facility to Enerji with the following terms:

• 3 year maturity

• Interest rate of 10% per annum

• Conversion price of $0.035

• Engineering Group will provide flexible payment terms to Enerji to enable deferral of construction costs of the Jundee Project.

• Enerji will grant Engineering Group preferential rights to partner on commercialisation of future ATEN Heat Exchange Projects.

Funds from this capital raising will be utilised to progress construction of the Jundee project and general working capital.

The period of exclusive technical and financial due diligence is underway and both parties expect this to be completed by COB Friday 17[th] June 2016. Following this, it is expected terms of the formal commercial agreement will be finalised.

-ENDS-

Further Information:

Andrew Vlahov	John Gardner	Richard Glass
Chief Executive Officer	Citadel-MAGNUS	Citadel-MAGNUS
+61 411 131 113	+61 413 355 997	+61 413 660 036

Suite 22, 513 Hay Street, Subiaco, Western Australia PO Box 1933, West Perth 9872, Western Australia Phone: +61 8 9430 7522 | www.enerji.com.au

ASX: ERJ