APA GROUP — Capital/Financing Update 2015

Jan 19, 2015

ASX ANNOUNCEMENT

20 January 2015

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APA Group (ASX: APA)

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

APA successfully completes the retail component of its 1 for 3 pro rata accelerated renounceable entitlement offer

APA Group (ASX: APA) has successfully completed the retail component ( Retail Entitlement Offer ) of its fully underwritten 1 for 3 accelerated renounceable entitlement offer of new APA stapled securities ( New Securities ), raising gross proceeds of A$593 million.

On Wednesday, 10 December 2014, APA announced it had entered into an agreement to acquire the QCLNG pipeline for US$5,000 million and that it would be undertaking an accelerated renounceable entitlement offer at an offer price of A$6.60 per New Security to raise approximately A$1,838.5 million ( Entitlement Offer ). Funds raised through the Entitlement Offer will be used to partially fund the acquisition with the balance of the consideration to be funded from a US$4,100 million syndicated bank bridge debt facility.

The institutional component of the Entitlement Offer was successfully completed on Friday, 12 December 2014 raising gross proceeds of approximately A$868 million following all reconciliations.

The retail component of the Entitlement Offer closed on Thursday, 15 January 2015.

Summary of the Retail Entitlement Offer

• Approximately A$593 million received from more than 35,800 applications; and

• Approximately 61% take-up (by value) by eligible retail securityholders.

APA will offer for sale approximately 57.3 million New Securities under the retail shortfall bookbuild ( Retail Shortfall Bookbuild ) which represents those entitlements attributable to renouncing and ineligible retail securityholders.

The Retail Shortfall Bookbuild will commence after market close today (Tuesday, 20 January 2015). The settlement date for New Securities issued under the Retail Entitlement Offer and the Retail Shortfall Bookbuild is Tuesday, 27 January 2015. Allotment of these securities is expected to occur on Wednesday, 28 January 2015 and trading on ASX is expected to commence on Thursday, 29 January 2015.

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Mark Knapman Company Secretary Australian Pipeline Limited

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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 in excess of $12 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

Important Information

Nothing contained in this announcement constitutes investment, legal, tax or other advice. You should make your own assessment and take independent professional advice in relation to the information and any action on the basis of the information.

NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES

This announcement does not constitute an offer, invitation or recommendation to subscribe for or purchase any securities and neither this announcement nor anything contained in it shall form the basis of any contract or commitment. In particular, this announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States or to any person acting for the account or benefit of a person in the United States, or in any other jurisdiction in which such an offer would be illegal. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), or under the securities laws of any state or other jurisdiction of the United States and may not be offered or sold, directly or indirectly, within the United States or to any person acting for the account or benefit of a person in the United States, unless the securities have been registered under the Securities Act or an exemption from the registration requirements of the Securities Act and applicable U.S. state securities laws is available.

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