Further re RenewMe Agreement

30 April 2014 PowerHouse Energy Group plc ("PowerHouse" or the "Company") Further re. RenewMe Agreement Further to the announcement dated 3 March 2014, the Company advises that thecash element of the consideration of €211,000, which was due to be paid by 11March 2014 under the terms of the agreement, remains outstanding. Subsequently,the Company believed that RenewMe Limited ("RenewMe") had verbally agreed thatthe cash payment could be made out of the proceeds of a fund raising theCompany is currently pursuing. In the event that the fundraising does notproceed, the Company will be reliant on Hillgrove Investments Pty Limited("Hillgrove") providing the necessary funds under the Convertible LoanAgreement dated 18 October 2012 (as previously announced) and RenewMe acceptingthe cash payment in full and final settlement on the terms previously agreedwith RenewMe. On 28 June 2013, Hillgrove provided the Company with a letter of financialsupport to ensure the Company continues to meet its obligations as they falldue and to ensure it operates as a going concern for a period of at least 12months. Under the terms of the agreement with RenewMe announced on 3 March 2014,termination of the exclusive licences claimed to be held by RenewMe and thesettlement of its claims against the Company was subject to, among otherthings, payment of the sum referred to above. For additional information please contact:PowerHouse Energy Group plc Keith Allaun - Executive ChairmanPhone: +44 (0)20 7079 4407Email: [email protected] Sanlam Securities UK Limited (NOMAD and Broker)David Worlidge/Simon Clements+44 (0) 20 7628 2200