ORIGIN ENERGY LIMITED — Capital/Financing Update 2017

Nov 9, 2017

ASX Announcement 10 November 2017

Waitsia-2 delivers excellent gas flows at 38.7 MMscf/d

• Another excellent flow test result from the Waitsia field, onshore Perth Basin

• Waitsia-2 achieves a maximum flow rate of 38.7 million standard cubic feet per day from the Kingia Sandstone

• The Kingia Sandstone performance at Waitsia-2 sits between Waitsia-1 (25.7 MMscf/d) and Waitsia-3 (50 MMscf/d), reflecting difference in pay thickness and completion strings

AWE Limited (ASX: AWE), the Operator of Production Licences L1/L2 in the onshore Perth Basin, Western Australia, has commenced flow testing Waitsia-2, the second appraisal well in its 2017 three well test program on the conventional Waitsia gas discovery.

The testing program is designed to determine well deliverability from the southern extent of the Waitsia field and to collect gas samples for compositional analysis. The zone being flow tested is the Kingia Sandstone, where a 42 metre interval (3,173 metres to 3,215 metres Measured Depth Below Rotary Table) has been perforated.

Well clean-up operations commenced at approximately 07:45 hours AWST (Australian Western Standard Time) on Tuesday, 7th November 2017. On Wednesday, 8th November, at the end of a 19.8 hour clean up period, the well flowed gas at an instantaneous maximum rate of 38.7 million standard cubic feet per day (MMscf/d) and an average of 38.5 MMscf/d on an 80/64 inch choke at ~1,315 psig flowing well head pressure over a 2.1 hour period.

AWE’s CEO and Managing Director, David Biggs, said:

“Waitsia-2 has delivered another excellent flow test result from the Waitsia gas field. Net pay at Waitsia-2 is 30% of that in Waitsia-3, so to achieve a maximum flow rate of 38.7 MMscf/d is a fantastic result,” he said.

“The flow test confirms that the Kingia Sandstone at Waitsia-2 shares all the outstanding conventional reservoir properties observed at other wells in the field, particularly high porosity and low total inerts. Overall, these results underline the laterally extensive nature of this excellent reservoir system,” Biggs concluded.

The Waitsia-2 appraisal well has been shut in for a brief pressure build-up survey prior to a series of flow tests at various choke settings, rates and well head pressures. Once the Waitsia-2 flow test is completed, AWE will undertake the final flow test in the 2017 program at Waitsia-4. The testing program is expected to be completed by the end of November 2017.

Waitsia-3 is located approximately 16.5 kilometres east-south-east of Dongara, Western Australia, and 5.6 kilometres south-south-west of Waitsia-1.

AWE LIMITED LEVEL 16, 40 MOUNT STREET NORTH SYDNEY NSW 2060 AUSTRALIA P +61 2 8912 8000 F +61 2 9460 0176 E awe@awexplore.com ABN 70 077 897 440 www.awexplore.com

The Joint Venture partners in L1/L2 are: AWE Limited (via subsidiaries) (Operator) 50.0% Origin Energy Limited (via Lattice Energy) 50.0%

About the Waitsia gas field

The northern Perth Basin has been one of Western Australia’s major gas producing regions for more than 50 years. Discovered in September 2014, the Waitsia field is regarded as the largest onshore conventional gas discovery in Australia for the last 40 years and has the capability to supply the domestic market with 100 TJ/d for over 10 years from conventional reservoirs.

About AWE Limited.

AWE Limited is an independent, Australian energy company focused on upstream oil and gas opportunities. Established in 1997 and listed on the Australian Securities Exchange (ASX: AWE), the company is headquartered in Sydney with an office in Perth. AWE has a substantial portfolio of production, development and exploration assets in Australia, New Zealand, and Indonesia.

For information please see our website www.awexplore.com or contact:

David Biggs

CEO and Managing Director AWE Limited 02 8912 8000

Matt Sullivan

Investor Relations & Corporate Affairs AWE Limited 02 8912 8022 matthew.sullivan@awexplore.com

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