APA GROUP — Capital/Financing Update 2015

Jun 3, 2015

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ASX ANNOUNCEMENT

4 June 2015

APA Group (ASX: APA) (also for release to APT Pipelines Limited (ASX: AQH))

APA Completes LNG Pipeline Acquisition

APA Group (ASX:APA), Australia’s largest natural gas infrastructure business, is pleased to announce that it completed the acquisition from BG Group of the Queensland Curtis LNG (‘QCLNG’) Pipeline on 3 June 2015. The final acquisition price is US$4.6 billion and the first full year EBITDA contribution is expected to be around US$355 million. The transaction was announced on 10 December 2014.

As part of the completion process, APA has renamed the pipeline to the Wallumbilla Gladstone Pipeline (‘WGP’).

APA Managing Director, Mick McCormack said, “We are very pleased to have completed this acquisition which extends the footprint of our east coast gas grid to over 7,500 km across eastern Australia and represents APA’s largest ever pipeline acquisition. We have also gained two significant global customers in BG Group and China National Offshore Oil Corporation (‘CNOOC’) as part of this transaction and we look forward to further developing our relationship with each of them.”

The final acquisition price and tariffs were determined upon the finalisation of several parameters including US Producer Price Index – Industrial Commodities (‘US PPI’), which resulted in their decrease from that indicated at the time of initial announcement of the transaction on 10 December 2014.

APA has executed forward hedges for the period to financial year end 2016 and will execute further hedges going forward at an appropriate time and on a rolling basis. As a result, net operating cashflow to APA from US$ income net of US$ interest cost is expected to be in the range of A$250 million to A$255 million in APA’s first full year of ownership to 30 June 2016.

As a result, APA updates its FY15 guidance in respect of EBITDA and net interest cost. Based on currently available information and operating plans, APA expects statutory EBITDA for the full year to 30 June 2015 to be in the range of A$1,257 million to A$1,272 million. Normalised continuing business EBITDA is expected to be in the range of A$810 million to A$825 million. This guidance is inclusive of an expected contribution from the newly acquired WGP during FY15 of approximately A$35 million (at an assumed AUD/USD exchange rate of 0.77).

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There is no change to APA’s guidance in respect of net interest cost which is expected to be in a range of A$320 million to A$355 million.

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Mark Knapman Company Secretary Australian Pipeline Limited

For further information please contact:

Investor enquiries: Media enquiries: Yoko Kosugi David Symons Telephone: (02) 9693 0049 Telephone: (02) 8306 4244 Mob: 0438 010 332 Mob: 0410 559 184 Email: yoko.kosugi@apa.com.au Email: media@apa.com.au

About APA Group (APA)

APA is Australia’s largest natural gas infrastructure business, owning and/or operating around $19 billion of energy infrastructure assets. Its gas transmission pipelines span every state and territory on mainland Australia, delivering approximately half of the nation’s gas usage. APA has direct management and operational control over its assets and the majority of its investments. APA also holds minority interests in a number of energy infrastructure enterprises including SEA Gas Pipeline, Energy Infrastructure Investments and GDI.

APT Pipelines Limited is a wholly owned subsidiary of Australian Pipeline Trust and is the borrowing entity of APA Group.

For more information visit APA’s website, www.apa.com.au

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