BHP Group Limited — Capital/Financing Update 2009

Dec 23, 2009

Energy Developments Limited (ASX: ENE) Thursday, 24 December 2009 For Immediate Release

ASX Release

Business Update Appin and Appin West Power Project – New Agreement

Energy Developments Limited (ASX: ENE or the “ Company ”) is pleased to announce it has entered into a Heads of Agreement (“ HOA” ) with BHP Billiton Illawarra Coal for a new gas conversion agreement (“ GCA ”) for ENE’s 97MW Appin and Appin West Power Stations (“ Appin Power Stations” ), which utilise BHP Billiton supplied Waste Coal Mine Gas (“ WCMG” ) in electricity generation.

The HOA outlines the key terms for the GCA. Execution of a final GCA will require negotiation of satisfactory formal documentation, any necessary regulatory approvals, and is subject to ENE and BHP Billiton approval processes.

The HOA provides ENE with commercial agreement on the following key benefits:

• a new GCA for four years to January 2016; and

• extended tenure on the current sites for an additional ten years from January 2016 to January 2026.

It is proposed that the new four year GCA will optimise generation capacity to BHP Billiton’s future mine plan and positions ENE to maximise the value of surplus capacity. ENE will dedicate 76MW of the existing capacity to utilise WCMG from BHP Billiton and retain the right to use the remaining 21MW surplus capacity for sale into the electricity grid.

ENE’s Managing Director, Mr Greg Pritchard, said: “ENE pioneered WCMG power generation technology at the Appin Power Stations and we are delighted by the prospect of extending our successful relationship with BHP Billiton through the HOA.”

“It underscores the durability of ENE’s revenue streams and our capacity to add value to existing projects,” Mr Pritchard said.

ENE has owned and operated the Appin Power Stations since 1997 under an existing GCA which was due to expire in January 2012. The Appin Power Stations are the largest operational WCMG power stations in Australia and among the largest in the world. They are located approximately 75 km south-west of Sydney, and are strategically positioned in relation to BHP Billiton’s mining operations, various coal seam gas reserves, natural gas pipelines and electricity network infrastructure.

The use of WCMG for power generation provides significant environmental benefits through the abatement of fugitive methane emissions. ENE estimates that the Appin Power Stations abated 2.2 million tonnes of carbon dioxide equivalent (CO2-e) and exported in excess of 440,000MWh of electricity in the 2009 financial year.

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For additional information please contact:

Greg Pritchard Managing Director Energy Developments Phone: +61 7 3275 5650

About Energy Developments:

ENE is an international provider of renewable energy and low greenhouse gas emission energy. The Company currently owns and operates a diversified international portfolio of power stations in Australia, the United States, Europe and the United Kingdom, with a total capacity of approximately 600 MW from a range of fuel sources including landfill gas, waste coal mine gas, natural gas and liquefied natural gas.

In the year ended 30 June 2009, in its worldwide operations, the Company produced approximately 2,800 GWh of clean energy, and captured and utilised greenhouse gases estimated at 9.7 million tonnes of carbon dioxide equivalent, akin to removing 2.8 million cars from the road. In Australia, the Company captured and utilised waste methane to produce approximately 2,000 GWh of clean energy, and abated over 6.2 million tonnes of carbon dioxide equivalent, comparable to removing approximately 1.6 million cars from the roads.