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Renergen's Phase 2 EPC Contractor Awarded Preferred Bidder Status

1. He4u consortium awarded preferred bidder status for Tetra4 Phase 2 project. 2. Chart Industries selected as technical partner for helium and LNG liquefaction. 3. Renergen’s Phase 2 project now closer to construction commencement. 4. ASP Isotopes plans acquisition of Renergen after announcing firm intention offer. 5. Transaction subject to standard closing conditions ahead of execution.

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Why Bullish?

The acquisition and project progress enhances ASPI's growth prospects and market presence.

How important is it?

The acquisition and ongoing projects in the industry highlight ASPI's strategic growth opportunities.

Why Short Term?

The news is likely to impact ASPI's price in the near term due to acquisition developments.

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June 18, 2025 10:11 ET  | Source: RENERGEN Ltd JOHANNESBURG, June 18, 2025 (GLOBE NEWSWIRE) -- Renergen is pleased to announce that preferred bidder status has been awarded to He4u consortium for the design, procurement, delivery, construction and commissioning for phase 2 of the Tetra4 LNG and helium liquefaction project, comprising of, Chart Industries Inc. (NYSE: GTLS), Wilson Bayly Holmes - Ovcon Ltd (JSE: WBO), and Aurex Constructors. The appointment of an acceptable EPC contractor in Phase 2 was one of the two remaining conditions for the DFC Phase 2 loan. The award is a key milestone in the project’s progress. The award confirms that Chart Industries’ Helium liquefier and LNG liquefaction technologies have been selected as Tetra4’s preferred technical solution for the implementation of Phase 2 of the Virginia Gas Project. In addition, the award includes multiple local construction and fabrication partners, such as Aurex and WBHO, that are well-versed in executing large projects in South Africa. Chart Industries, Inc. is a leading independent global manufacturer of highly engineered equipment servicing multiple market applications in energy and industrial gas. Chart’s unique product portfolio is used throughout the liquid gas supply chain in the production, storage, distribution and end-use of atmospheric, hydrocarbon, and industrial gases. Chart is headquartered in Georgia, the USA, with operations in over 50 countries globally WBHO is a multidisciplinary, international construction company. WBHO’s motto, “Rely on Our Ability”, demonstrates the pride they take in providing their clients, big and small, with safety first and quality always. Construction activities, which cover the full spectrum, are divided into four main operating divisions: Building Construction, Civil Engineering, Projects and Roads and Earthwork. WBHO Projects Division undertakes the EPC/Design & Construct and renewable energy projects for the Group. The origins of the present group date back to 1970 and today the group is one of the largest construction companies in Southern Africa and is listed on the Johannesburg Securities Exchange with a Level 1 B-BBEE contributor status. Aurex Constructors is an industry-leading multidisciplinary contractor, renowned for its commitment to quality and safety, delivering uncompromised excellence within the energy sector. As a B-BBEE Level 2 contributor with over 40 years of experience, Aurex specialises in Structural, Mechanical, Electrical, Instrumentation and Piping services, providing construction and maintenance solutions to the industrial, power generation and renewable energy industries, including EPC project services specifically for PV energy generation plants. The company has a proven track record of successfully completing large-scale and complex projects, making it a trusted partner in the industry. “Chart Industries is pleased to have been selected by Renergen as technology partner for Tetra4's Helium and LNG liquefaction requirements. We look forward to providing our world-class technologies and engineering solutions at scale to Tetra4 as the company moves toward implementation of the next phase of the Virginia Gas Project.”, said Jillian Evanko, CEO of Chart Industries Inc. “We are excited to have such an experienced and technically strong team executing our Phase 2 project on a turnkey basis, and we have every confidence that the skillset they bring to the table and when combined with Worley who will be responsible to manage and oversee the contractors in official capacity as Owners Engineer, reduces the execution risk tremendously on Phase 2. This represents another major milestone, and one of very few remaining towards commencement of construction of Phase 2, said Stefano Marani, CEO of Renergen. ASP Isotopes Inc. (NASDAQ: ASPI) announced a firm intention offer to the shareholders of Renergen Limited on 20 May 2025. The transaction is subject to customary closing conditions ContactsMandy StuartEmail – Mandy@renergen.co.zaTelephone - +27 84 6067200

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