The correct option is C (III) and (IV) only
In reactions (III) and (IV), alkenes rearrange to form more substituted alkenes.
More substituted alkenes are more stable than less substituted alkenes. They have lower enthalpy than less substituted alkenes.
Hence, in reactions (III) and (IV), the enthalpy of reactants is higher than the enthalpy of products. These reactions are exothermic.