ENERO GROUP LIMITED — AGM Information 2012

Jun 7, 2012

8 June 2012

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Extraordinary General Meeting of Members of Photon Group Limited

Chairman’s Overview

Good morning Ladies and Gentlemen,

I am your Chairman, John Porter, and I would like to welcome you all here today.

This is my first shareholder meeting as Chairman of Photon and I look forward to serving the interests of shareholders in the coming years.

Before we start the formal business of the meeting I would like to introduce you to the rest of the Board. With me today on stage are your Directors: Brian Bickmore, Susan McIntosh, Roger Amos, Max Johnston and the Chief Executive Officer, Matthew Melhuish. Steve Gatfield, who joined the Board in January as an Executive Director, has provided his apologies.

We also have some members of our senior management team here today, Group Finance Director Brendan York and Company Secretary Eleni North.

This is an exciting time for the Company and I am pleased to be standing here today as its new Chairman.

In the past year the Company has become debt free and has consolidated or sold a number of businesses to become a more streamlined, simpler business.

On 30 April 2012 we unveiled a new strategic direction to the market which is aimed at better meeting client needs. We also have a strengthened Board, a new management team and a greater focus on collaborating across the Group and across geographies to cultivate and drive the company’s skills in digital marketing globally.

Part of this revitalisation of the Company involves marking this fresh start with a new name and company identity. While I will leave the re-branding explanation to Matt and our other experts, ENERO (which means January in Spanish) is a good representation of the positive and re-invigorated Company we now have.

Another part of this process is a share consolidation. Following the Company’s re-capitalisation in 2010 the Company has approximately 1.5 billion shares on issue. The proposed share consolidation will result in the issued share capital in the Company being consolidated on the basis of 18 to 1 – so for every 18 shares presently held these will be converted to one share. We will end up with approximately 85.8 million shares on issue. Post-consolidation, the Company will have a capital structure more comparable and appropriate to a listed entity of its size, and hopefully one which better reflects value changes and benefits to shareholders.

I won’t re-hash the Strategic Update that was released on 30 April 2012. However, I do urge you to read it if you have not already done so. The presentation provides a lot more information about the Company’s new strategic direction and values and our fresh, exciting future as ENERO.

Contact

Andrew Butcher Butcher & Co +61 400 841 088

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