ORIGIN ENERGY LIMITED — Capital/Financing Update 2014

Aug 11, 2014

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To	Company Announcements Office	Facsimile	1300 135 638
Company	ASX Limited	Date	12 August 2014
From	Helen Hardy	Pages	3
Subject	Origin completes acquisition of gas exploration interests in WA’s BrowseBasin

Please find attached a release on the above subject.

Regards

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Helen Hardy Company Secretary

02 8345 5000 – helen.hardy@originenergy.com.au

Origin Energy Limited ACN 000 051 696 • Level 45 Australia Square, 264-278 George Street, Sydney NSW 2000 GPO Box 5376, Sydney NSW 2001 • Telephone (02) 8345 5000 • Facsimile (02) 9252 1566 • www.originenergy.com.au

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ASX/Media Release

12 August 2014

Origin completes acquisition of gas exploration interests in WA’s Browse Basin

Origin Energy Limited (Origin) today announced it had completed the acquisition of Karoon Gas’s (Karoon) 40 per cent interest in two offshore exploration permits (WA315-P and WA-398-P) in Western Australia’s Browse Basin.

Under the terms of the transaction, Origin has paid Karoon a US$600 million cash consideration with additional payments of US$75 million payable upon a project Final Investment Decision (FID) and US$75 million payable on first production. A further payment of up to US$50 million will be payable on first production if 2P reserves at the time of FID reach certain thresholds.

Origin’s acquisition of the permits, which contain large and prospective offshore gas fields such as the Poseidon discovery, allows the company to establish a strategic position in one of Australia’s largest recent offshore gas discoveries.

The acquisition complements Origin’s recent farm-ins in the Cooper and Beetaloo basins and the awarding of new exploration acreage to the company in the Bonaparte Basin.

For further information please contact:

Media	Investors
Stephen Ellaway	David Moon
Senior External Affairs Manager	Group Manager, Investor Relations
Ph: +61 2 9375 5834	Ph: +61 2 9375 5816
Mobile: +61 417 851 287	Mobile: +61 437 039 310

About Origin Energy

Origin Energy (ASX: ORG) is the leading Australian integrated energy company focused on gas and oil exploration and production, power generation and energy retailing. A member of the S&P/ASX 20 Index, the company has more than 6,000 employees and is a leading producer of gas in eastern Australia. Origin is Australia’s largest energy retailer servicing 4.3 million electricity, natural gas and LPG customer accounts and has the country’s largest and one of the most flexible generation portfolios with approximately 6,010 MW of capacity, through either owned generation or contracted rights. Origin’s strategic positioning and portfolio of assets provide flexibility, stability and significant opportunities for growth across the energy industry. Through Australia Pacific LNG, its incorporated joint venture with ConocoPhillips and Sinopec, Origin is developing one of Australia’s largest CSG to LNG projects based on Australia’s largest 2P CSG reserves base.

In New Zealand, Origin is the major shareholder in Contact Energy, a leading integrated energy company, operating geothermal, thermal and hydro generation facilities and servicing electricity, gas and LPG customers across both the North and South islands. Origin is also a major operator and participant in petroleum exploration acreage in New Zealand.

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Origin Energy Limited ABN 30 000 051 696 Level 45 Australia Square, 264-278 George Street, Sydney NSW 2000 GPO Box 5376, Sydney NSW 2001 Telephone (02) 8345 5000 Facsimile (02) 9252 1566 www.originenergy.com.au

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Origin has a strong focus on ensuring the sustainability of its operations, is the largest green energy retailer in Australia and has significant investments in renewable energy technologies.

For more information go to www.originenergy.com.au

Figure 1 – Location of WA-315-P and WA-398-P

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