VOLT GROUP LIMITED — Capital/Financing Update 2016

Sep 29, 2016

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ASX ANNOUNCEMENT

30 September 2016

UPDATE ON CONDITIONS PRECEDENT TO ECM TRANSACTION

Further to the update provided on 19 September 2016, Enerji Ltd (ASX:ERJ) (‘Enerji’ or the ‘Company’) provides the following update in respect to the conditions precedent to the transaction with ECM Pty Ltd (‘ECM’).

The completion of the Notice of Meeting and Independent Experts Report to facilitate the shareholder approval of the share and convertible note subscription by ECM remains subject to the final outcome of the resolution of the Opcon AB liabilities.

As previously noted, the recorded liabilities associated with the Opcon AB claim are potential obligations in Enerji Holdings Pty Ltd, a 100% owned subsidiary of Enerji Ltd. The Board of Enerji Holdings Pty Ltd, resolved to appoint Mr Robert Kirman and Mr Matthew Caddy of McGrathNicol as Joint and Several Administrators of Enerji Holdings Pty Ltd. This process is underway with the first creditors meeting being held today, 30 September 2016.

The Subscription Agreement entered into with ECM provides for an end date to satisfy the conditions precent 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. As such, the Company is currently in discussions with ECM for them to extend the end date for the conditions precedent to be satisfied.

-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