ENERGY ACTION LIMITED — Director's Dealing 2012

Sep 9, 2012

Energy Action Limited Level 5, 56 Station Street Parramatta NSW 2150 Email: info@energyaction.com.au Web: www.energyaction.com.au

Monday, 10 September 2012

Andrew Weaver Senior Adviser, Listings Australian Securities Exchange 20 Bridge Street, Sydney, NSW 2000

Dear Andrew.

APPENDIX 3Y - PAUL MEEHAN

The attached Appendix 3Y discloses a change in Paul Meehan's relevant interest in Energy Action Limited (ASX: EAX).

Mr. Meehan is deemed by section 608(3)(a) of the Corporations Act 2001 (Cth) to have a relevant interest in each security in which EAX itself has a relevant interest, because the voting power of Mr. Meehan in EAX is above 20%.

EAX itself, until recently, had a relevant interest in 8.8 million ordinary shares in EAX because it had entered into a voluntary escrow agreement with the registered holders of those shares and had by that agreement acquired a power to control the disposal of those shares.

The shares subject to the voluntary escrow agreement were released from escrow on 22 August 2012. Therefore Mr. Meehan no longer has a relevant interest in those shares.

There has been no disposal or acquisition of EAX shares by Mr. Meehan and hence no change in Mr. Meehan's underlying interest (being the relevant interest of Mr. Meehan and his related entities after disregarding any deemed relevant interest held due to the relevant interest of EAX) in EAX, totalling 5.327.091 shares (a 21.25% interest).

Please contact the undersigned should you have any questions.

Yours faithfully.

Nathan Francis Executive Director Finance & Company Secretary

GIVING YOU THE POWER^®

Rule 3.19A.2

Appendix 3Y

Change of Director's Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 30/09/01 Amended 01/01/11

Name of entity Energy Action Limited (EAX)
ABN 90 137 363 636

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Paul Meehan
Date of last notice	19 October 2011

Part 1 - Change of director's relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be disclosed in this part.

Direct or indirect interest	Indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	Paul Meehan and his related entities did not take any action to cause the change of his relevant interest. The change in Paul Meehan's relevant interest occurred due to changes in the relevant interest of EAX. Pursuant to section 608(3)(a) of the Corporations Act 2001 (Cth), Paul Meehan and his related entities are deemed to have a relevant interest in each EAX share which EAX has a relevant interest in.
Date of change	Date 1: 1 August 2012 Date 2: 22 August 2012
No. of securities held prior to change	Prior to Date 1: 11, 489 727 Prior to Date 2: 11, 531, 703
Class	Ordinary shares
Number acquired	In relation to the change on Date $1 - 41,976$
Number disposed	In relation to the change on Date $2 - 6,162,636$
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	N/A
No. of securities held after change	5,369,067

• See chapter 19 for defined terms.

Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy- back	Change in the relevant interest of EAX.
--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------	-----------------------------------------	--

Part 2 - Change of director's interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of "notifiable interest of a director" should
be disclosed in this part.

Detail of contract	None.
Nature of interest
Name of registered holder
(if issued securities)
Date of change
No, and class of securities to which
interest related prior to change Note: Details are only required for a contract in
relation to which the interest has changed
Interest acquired
Interest disposed
Value/Consideration
Note: If consideration is non-cash, provide details and an estimated valuation
Interest after change

Part 3 - ⁺Closed period

Were the interests in the securities or contracts detailed No.
above traded during a + closed period where prior written
clearance was required?
If so, was prior written clearance provided to allow the trade
to proceed during this period?
If prior written clearance was provided, on what date was this provided?

⁺ See chapter 19 for defined terms.