Holding(s) in Company

1. Identity of the issuer or the underlying issuerof existing shares to which voting rights areattached: ii

NCONDEZI ENERGY LIMITED

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights

X

An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

N/A

An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments

N/A

An event changing the breakdown of voting rights

N/A

Other (please specify):

N/A

3. Full name of person(s) subject to thenotification obligation: iii

Royal Bank of Canada

4. Full name of shareholder(s)  (if different from 3.):iv

RBC cees Trustee Limited

RBC Trustees (CI) Limited

RBC Trust Company (International) Limited

The Regent Trust Company Limited

5. Date of the transaction and date onwhich the threshold is crossed orreached: v

22 May 2014

6. Date on which issuer notified:

03 July 2014

7. Threshold(s) that is/are crossed orreached: vi, vii

3%

8. Notified details:

A: Voting rights attached to shares viii, ix

Class/type ofshares

if possible usingthe ISIN CODE

Situation previousto the triggeringtransaction

Resulting situation after the triggering transaction

NumberofShares

NumberofVotingRights

Numberof shares

Number of votingrights

% of voting rights x

Direct

Direct xi

Indirect xii

Direct

Indirect

ORD NPV

5,525,356

5,525,356

3.04%

ISIN VGG640631039

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financialinstrument

Expirationdate xiii

Exercise/Conversion Period xiv

Number of votingrights that may beacquired if theinstrument isexercised/ converted.

% of votingrights

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi

Resulting situation after the triggering transaction

Type of financialinstrument

Exercise price

Expiration date xvii

Exercise/Conversion period xviii

Number of voting rights instrument refers to

% of voting rights xix, xx

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

5,525,356

3.04%

9. Chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held, if applicable: xxi

RBC cees Trustee Limited, RBC Trustees (CI) Limited, RBC Trust Company (International) Limited and The Regent Trust Company Limited which are wholly owned indirect subsidiaries of the Royal Bank of Canada.

Holding calculated on issued share capital of 181,673,000 shares

Proxy Voting:

10. Name of the proxy holder:

N/A

11. Number of voting rights proxy holder will ceaseto hold:

N/A

12. Date on which proxy holder will cease to holdvoting rights:

N/A

13. Additional information:

Holding calculated on issued share capital of 181,673,000 shares.

14. Contact name:

Scott Roberts / Graham Horsnell

15. Contact telephone number:

(01534) 602971 / 01534 283292