Blue Energy : Appointment of Mr Seungsoo Han

Initial notice of director's interest

Appendix 3X Initial Director's Interest Notice

Appendix 3X Initial Director's Interest Notice

Rule 3.19A.1

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 30/9/2001.

Name of entity BLUE ENERGY LIMITED ABN 14 054 800 378

We (the entity) give ASX the following information under listing rule 3.19A.1 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Seungsoo Han
Date of appointment	4 May 2016

Part 1 - Director's relevant interests in securities of which the director is the registered holder

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

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

Number & class of securities

Nil

+ See chapter 19 for defined terms.

11/3/2002 Appendix 3X Page 1

Appendix 3X

Initial Director's Interest Notice

Part 2 - Director's relevant interests in securities of which the director is not the registered holder

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

Name of holder & nature of interest

Note: Provide details ofthe circumstances giving rise to therelevant interest.

N/A

Number & class of Securities

Part 3 - Director's interests in contracts

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

Detail of contract	N/A
Nature of inte rest
Name of registered holder (if issued securities)
No. and class of securities to which interest relates

+ See chapter 19 for defined terms.

Appendix 3X Page 2 11/3/2002