ENERGY ACTION LIMITED — Major Shareholding Notification 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,

NOTICE OF CHANGE OF INTERESTS OF SUBSTANTIAL HOLDER

The attached notice discloses a change in Paul Meehan's relevant interest in Energy Action Limited (ASX: EAX). Paul Meehan is a Non Executive Director of 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 Paul 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®

Form 604

Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder
Company Name/Scheme To	Energy Action Limited (EAX)
ACN/ARSN	ACN 137 363 636
1. Details of substantial holder (1) Name ACN/ARSN (if applicable)	Paul Meehan Meehanteam Pty Limited (ACN 092 030 825) (together Meehan and Related Entities) Meehanteam Pty Limited (ACN 092 030 825) Holyoake Investments Pty Ltd (ACN 069 765 984) Salmee Pty Limited (ACN 088 352 185)	Holyoake Investments Pty Ltd (ACN 069 765 984) in its capacity as trustee of the Holyoake Family Trust Salmee Pty Limited (ACN 088 352 185) in its capacity as trustee of the Holyoake Superannuation Fund
There was a change in the interests of the substantial holder on		22 August 2012
The previous notice was given to the company on		19 October 2011
The previous notice was dated		13 October 2011

2. Previous and present voting power

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial
holder or an associate (2) had a relevant interest (3) in when last required, and when now r

Previous notice		Present notice
Person's votes	Voting power (5)	Person's votes	Voting power (5)
11,489,727	45.840%	5.369.067	21.38%

3. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme, since the substantial holder was last required to give a substantial holdin

Date of change	Person whose relevant Interest changed	Nature of change (6)	Consideratio n given in relation to change $(7)$	Class and number of securities affected	Person's votes affected
22/08/12	Meehan and Related Entities	Refer to the Voluntary Escrow Agreement between Energy Action Limited and others that is contained in the Appendix A of the notice of initial substantial holder (Form 603) lodged on 19 October 2011, which gave Energy Action Limited a relevant interest in each escrowed share. Meehan and Related Entities are deemed by section 608(3)(a) of the Corporations Act to have a relevant interest in each share in which EAX has a relevant interest. The escrow period ended on 22 August 2012.	N/A	6,162,636 ordinary shares	6,162,636
1/08/12	Meehan and Related Entitles	Refer to the Side Letter between Energy Action Limited and Jennifer Anne Ward (Ward) annexed and marked "A" to the Form 605 of EAX. Meehan and Related Entities are deemed by section 608(3)(a) of the Corporations Act to have a relevant interest in each share in which EAX has a relevant interest.	N/A	41,976 ordinary shares	41,976

4. Present relevant interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

Holder of relevant interest	Registered holder of securities	Person entitled to be registered as holder (8)	Nature of relevant Interest (6)	Class and number of securities	Person's votes
Meehan and Related Entities	Meehanteam Pty Limited	Meehanteam Pty Limited	Meehanteam Pty Limited has a relevant interest as the registered and beneficial holder of the shares. Paul Meehan has a deemed relevant interest under section 608(3)(b) of the Corporations Act in the shares in which Meehanteam Pty Limited (an entity controlled by Paul Meehan) has a relevant interest.	3,000,698 ordinary shares	3,000,698
Meehan and Related Entitles	Holyoake Investments Pty Limited	Holvoake Investments Pty Limited	Holyoake Investments Pty Limited has a relevant interest as the registered holder of the shares with a power to control a right to vote attached to the shares and to dispose of the shares. Holyoake Investments Pty Limited holds the shares in its capacity as trustee of the Holyoake Family Trust. Paul Meehan has a deemed relevant interest under section 608(3)(b) of the Corporations Act in the shares in which Holyoake Investments Ply Limited (an entity controlled by Paul Meehan) has a relevant interest	2,208,372 ordinary shares	2,208,372

						604 Page 3/2 15 July 2001
Meehan and Related Entities	Salmee Pty Limited	Salmee Pty Limited	Salmee Pty Limited has a relevant interest as the registered holder of the shares with a power to control a right to vote attached to the shares and to dispose of the shares. Salmee Pty Limited holds the shares in its capacity as trustee of the Holyoake Super Fund. Paul Meehan has a deemed relevant interest under section 608(3)(b) of the Corporations Act in the shares in which Salmee Ply Limited (an entity controlled by Paul Meehan) has a relevant Interest.	118,021 ordinary shares	118,021
Meehan and Related Entitles	Jennifer Anne Ward	Jennifer Anne Ward	Refer to the annexed Side Letter between Energy Action Limited and Jennifer Anne Ward (Ward) annexed to the EAX Form 605. Ward gave an undertaking to EAX that she will not dispose of the shares within 12 months after the date of their issue. EAX has a relevant interest in each of the shares because it controls the exercise of a power to dispose of the shares. Meehan and Related Entities are deemed by section 608(3)(a) of the Corporations Act to have a relevant interest in each share in which EAX has a relevant interest.	41,976 ordinary shares	41,976

5. Changes in association

The persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their association (9) with, the substantial holder in relation to voting interests in the company or scheme are as fo

Nature of association

6. Addresses

The addresses of persons named in this form are as follows:

Name	Address
Paul Meehan	PO Box 597, Campelltown NSW 2560
Meehan Pty Limited
Holyoake Investments Pty Limited
Salmee Pty Limited
Jennifer Anne Ward	3 Colbourne Avenue, Glebe, NSW 2037

Signature

$-$	print name Paul Meehan	capacity Director
sign here		date 10 $19/2$