ENERO GROUP LIMITED — Director's Dealing 2012

Mar 1, 2012

Appendix 3Y Change of Director’s Interest Notice

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 Photon Group Limited ABN 97 091 524 515

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	Max Johnston
Date of last notice	28 April 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 relevantinterest.	Jondon Estates Super FundMr Johnston is a beneficiary of the fund
Date of change	29 February 2012
No. of securities held prior to change	nil
Class	n/a
Number acquired	500,000
Number disposed	nil
Value/ConsiderationNote: If consideration is non-cash, provide details and estimatedvaluation	$25,000
No. of securities held after change	500,000

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back

On market acquisition

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.

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----- Start of picture text ----- Detail of contract n/aNature of interest n/aName of registered holder n/a(if issued securities)Date of change n/aNo. and class of securities to which n/ainterest related prior to changeNote: Details are only required for a contract inrelation to which the interest has changedInterest acquired n/aInterest disposed n/aValue/Consideration n/aNote: If consideration is non-cash, provide detailsand an estimated valuationInterest after change n/a----- End of picture text -----

Part 3 –[+] Closed period

Were the interests in the securities or contracts detailed No. above traded during a[+] closed period where prior written The securities were acquired clearance was required? during an authorised trading window. n/a

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 n/a provided?

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011