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AX-ON AFRICA HOLDINGS – RENEWABLE ENERGY PROJECTS [PV SOLAR PLANTS – AFRICA] AX-ON AFRICA HOLDINGS – RENEWABLE ENERGY PROJECTS [PV SOLAR PLANTS – AFRICA] MALAWI AX-ON Africa Holdings [Pty] LTD had meetings with the Honourable Vice President, XXXXXX of Malawi at the of the High Commissioner in Pretoria and was invited to Malawi where it was agreed that AX-ON AFRICA HOLDINGS through their JV partners would establish 15 x 30mWh PV Solar Plants in the country with an estimated investment value of XXXXXX INTERIM REPORT Page 2 AX-ON AFRICA HOLDINGS – RENEWABLE ENERGY PROJECTS [PV SOLAR PLANTS – AFRICA] DEMOCRATIC REPUBLIC OF CONGO [DRC] Representatives of AX-ON Africa Holdings was invited by the Honourable Governor xxxxxx for the Kasai-Oriental Province and an agreement was entered into to establish a 30mWh PV Solar Plant in Mbuji-Mayi with an investment of US XXXX. This was announced on the National TV and already enquiries was received from some of the other Governors for proposals. INTERIM REPORT Page 3 AX-ON AFRICA HOLDINGS – RENEWABLE ENERGY PROJECTS [PV SOLAR PLANTS – AFRICA] INTERIM REPORT Page 4 AX-ON AFRICA HOLDINGS – RENEWABLE ENERGY PROJECTS [PV SOLAR PLANTS – AFRICA] KENYA [ENSDA] The Group CEO was invited by XXXXXX to visit Kenya where a Memorandum of Agreement was signed for the establishment of 1 x 30mWh PV Solar Plant in xxxxxx. Successful meetings was also held with the traditional land owners and 20 year lease agreements was entered into. This is in line with Kenya’s VISION 2030. Vision 2030 The official logo of Vision 2030 INTERIM REPORT Page 5 AX-ON AFRICA HOLDINGS – RENEWABLE ENERGY PROJECTS [PV SOLAR PLANTS – AFRICA] In 2007, the Kenyan government unveiled Vision 2030, an economic development programme it hopes will put the country in the same league as the Asian Economic Tigers by the year 2030. In 2013, it launched a National Climate Change Action Plan, having acknowledged that omitting climate as a key development issue in Vision 2030 was an oversight. The 200-page Action Plan, developed with support from the Climate & Development Knowledge Network, sets out the Government of Kenya's vision for a 'low carbon climate resilient development pathway'. At the launch in March 2013, the Secretary of the Ministry of Planning, National Development and Vision 2030 emphasised that climate will be a central issue in the renewed Medium Term Plan that will be launched in the coming months. This will create a direct and robust delivery framework for the Action Plan and ensure climate change is treated as an economy-wide issue. INTERIM REPORT Page 6 AX-ON AFRICA HOLDINGS – RENEWABLE ENERGY PROJECTS [PV SOLAR PLANTS – AFRICA] INTERIM REPORT Page 7