ENERGY ACTION LIMITED — Capital/Financing Update 2012

Jan 31, 2012

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To: Company Announcements Office Facsimile: 1300 135 638 Company: ASX Limited Date: 01 February 2012 From: Valeri e Duncan Pages: 3 Subject: SHA R E PRICE MOVEMENTS AND HALF YEAR RESULTS

Please find attached a release on the above subject.

Regards,

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Valerie Duncan CEO/Company Secretary

02 98916911 – valduncan@energyaction.com.au

Energy Action Limited – ACN 137 363 636 - Level 5, 56 Station St, Parramatta, NSW, 2150 Telephone (02) 9891 6911 • Facsimile (02) 9475 0954 • www.energyaction.com.au

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ASX/Media Release

01 February, 2012

Energy Action Limited share price movements and half year results

Energy Action notes the increase in its share price over the month of January. Energy Action is not aware of any nonpublic information which could fully explain the share price increase over that period.

The Company’s results for the half year to 31 December 2011 will be announced on or about 17[th] February 2012. Subject to audit and final consideration by the directors, those result are expected to show a better NPAT than the IPO forecast but any NPAT improvement is likely to be under 15% and accordingly such financial performance over the half year (if confirmed) does not fully explain the share price increase.

Energy Action Limited – ACN 137 363 636 - Level 5, 56 Station St, Parramatta, NSW, 2150 Telephone (02) 9891 6911 • Facsimile (02) 9475 0954 • www.energyaction.com.au

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For further information please contact:

Media

Rebecca Seamons Manager Marketing and Communications Manager Mobile: 0418972339

Investors

Valerie Duncan CEO Mobile: 0418470364

About Energy Action

Energy Action (ASX: EAX) is Australia’s leading independent energy management company offering comprehensive buying and management services aimed at reducing energy usage and saving businesses money.

Founded in 2003, Energy Action has developed extensive specialist experience in energy management services including the establishment of its flagship service, the Australian Energy Exchange, Australia’s only reverse auction energy procurement platform. This platform allows energy suppliers to competitively bid against one another to supply an organisation’s energy – with a best fit contract secured in around 15 minutes. This unique service has secured energy contracts in excess of $5 billion and delivered millions of dollars worth of savings for Australian organisations.

Energy Action has experienced revenue growth of around 30% year on year, and traded profitably with no material bank debt since FY06. The company benefits from management with substantial experience in the sector and a clear vision for delivering value to all stakeholders in the business.

For more information about Energy Action, visit www.energyaction.com.au

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Energy Action Limited – ACN 137 363 636 - Level 5, 56 Station St, Parramatta, NSW, 2150 Telephone (02) 9891 6911 • Facsimile (02) 9475 0954 • www.energyaction.com