Resource Generation : Non-Executive Director Appointment

23 November 2017

ASX Limited Exchange Centre 20 Bridge Street

Sydney NSW 2000

Resource Generation Ltd is pleased to announce the appointment of Mr Peter Watson as a non- executive director of the Company.

Peter is appointed to the Board following the resignation of Mr Denis Gately as a Non-Executive Director of the Company. The appointment ensures continued compliance with the Corporations Act requirement for a public company to have two Australian resident shareholders.

He holds a BE (Chem) Hons from Sydney University, a Diploma in Accountancy & Financial Management from QUT and is a Graduate of the Australian Institute of Company Directors Program.

Peter is familiar with the Boikarabelo Project through his previous role as Managing Director of Sedgman Limited during the period that the Company negotiated a Heads of Agreement for the engineering, procurement and construction of the Coal Handling and Preparation Plant (CHPP).

Peter has over 30 years' experience in the energy and resources sectors within Australia and overseas. Over this period his has developed expertise in the areas of project development and delivery, asset optimisation and maintenance, and organizational leadership spanning Australia, Africa, Asia and the Americas.

He also brings significant board level experience at both the public and wholly owned company level, particularly on matters covering safety, governance, financial reporting, risk management, strategy and leadership.

The Board welcomes Peter and looks forward to his contribution, particularly when we are able to progress to the construction phase of the Project.

On behalf of the Board

Lulamile Xate Chairman

c/o Level 1, 17 Station Road, Indooroopilly, QLD, 4068

GPO Box 126, Albion QLD 4010. Phone +27 (012) 345 1057 Fax +27 (012) 345 5314

Colin Gilligan, Leapeetswe Molotsane, Manish Dahiya www.resgen.com.au

Resource Generation Limited (Resgen) is an emerging ASX and JSE-listed energy company, currently developing the Boikarabelo Coal Mine in South Africa's Waterberg region. The Waterberg accounts for around 40% of the country's currently known coal resources. The Coal Resources and Reserves for the Boikarabelo Coal Mine, held through the operating subsidiary Ledjadja Coal, were recently updated based upon a new mine plan and execution strategy. The Boikarabelo Coal Resources total 995Mt and the Coal Reserves total 267Mt applying the JORC Code 2012 (ASX Announcement :23 January 2017- In accordance with Listing Rule 5.23.2 the Company confirms that it is not aware of any new information that would impact on the Reported Coal Resources and Coal Reserves). Stage 1 of the mine development targets saleable coal production of 6 million tonnes per annum. Ledjadja Coal is a Black Economic Empowerment subsidiary (BEE) operating under South Africa's Broad-based Black Economic Empowerment Act, Section 9(5): Codes of Good Practice

ResGen's primary shareholders are the Public Investment Corporation of South Africa (PIC), Noble Group and Altius Investment Holdings.

Mike Meintjes, Company Secretary on mmeintjes@resgen.com.au or +61 413 706 143

Australia: Martin Debelle on + 61 282 340 102

South Africa: Marion Brower/ Charmane Russell on +27 11 880 3924

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