ORIGIN ENERGY LIMITED — Interim / Quarterly Report 2021

Jul 29, 2021

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To Company Announcements Office Company ASX Limited From Helen Hardy Subject June 2021 Quarterly Report	Facsimile 1300 135 638
	Date 30 July 2021
	Pages 24

Please find attached a release on the above subject.

Regards

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Authorised by: Helen Hardy Company Secretary

02 8345 5000

Origin Energy Limited ABN 30 000 051 696 • Level 32, Tower 1, 100 Barangaroo Avenue, Barangaroo, NSW 2000 GPO Box 5376, Sydney NSW 2001 • Telephone (02) 8345 5000 • Facsimile (02) 9252 9244• www.originenergy.com.au

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ASX/Media Release

30 July 2021

Quarterly Report June 2021

Origin Energy Limited (Origin) has released its Quarterly Report for the period to 30 June 2021, covering the performance of its Integrated Gas and Energy Markets divisions.

Integrated Gas:

• FY2021 production stable despite a 53 per cent reduction in capital expenditure reflecting strong field performance. Commodity revenue declined 35 per cent reflecting lower realised oil prices.

• Origin received cash distributions from Australia Pacific LNG of $709 million in FY2021.

• June quarter production stable and commodity revenue increased 19 per cent from the March quarter driven by higher realised oil prices and higher domestic volumes. Realised gas price of A$7.98/GJ in the June quarter, comprising an average LNG price (contracted and spot) of US$7.23/mmbtu and an average domestic price of A$5.21/GJ (legacy and short-term).

Energy Markets:

• COVID-19 drove subdued business activity but higher residential demand in FY2021.

• FY2021 electricity sales volumes were flat compared to FY2020. Gas sales volumes decreased by 11 per cent, primarily driven by expiration of business contracts as well as lower demand from gas-fired generation.

• June quarter electricity sales volumes increased 9 per cent on the June 2020 quarter primarily reflecting a recovery in business demand as well as cooler weather. Gas sales volumes decreased 12 per cent on the June 2020 quarter driven by expiration of business contracts and less gas directed to generation due to a planned outage, partially offset by an increase in retail with higher customer numbers and recovery of SME demand.

Origin CEO Frank Calabria said, “The strong performance of Integrated Gas continues, with full-year production at Australia Pacific LNG stable even as we significantly reduced development activity and costs, reflecting the performance of the gas fields.

“Higher realised commodity prices and higher domestic volumes drove a strong increase in Australia Pacific LNG revenue during the quarter, while the continued recovery in global oil demand has driven stronger JCC prices and we expect this to flow through to higher effective prices into FY2022.

“Pleasingly, cash distributions from Australia Pacific LNG were $709 million in FY2021, compared to our guidance of greater than $650 million.

“Wholesale electricity prices recovered strongly during the quarter due to a number of unplanned baseload plant outages in the National Electricity Market and a winter cold snap, which also drove higher demand for gas.

“As the pandemic continues to impact on sectors such as travel, hospitality, recreation and education, electricity sales volumes were largely flat over the year with higher residential demand.

1

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“Gas sales were down year on year, with higher residential demand but lower business volumes. Less gas was used for electricity generation with lower wholesale prices for most of the year, however gas peakers have been in high usage over recent weeks in response to outages at other plants, reinforcing the crucial role these assets play in providing reliable power when it is needed.

“The development of Origin’s new, more efficient retail operating model and migration to the Kraken platform is progressing very well, with 250,000 customers now on the platform. We are in a strong position to start scaling up migrations towards a goal to have all our customers on the new platform by the end of 2022,” Mr Calabria said.

Unit	Jun-21 Mar-21	% Mvt Jun-20	% Mvt FYTD-21 FYTD-20	% Mvt
Integrated Gas – Share of APLNG Production PJ 64.7 65.4 Sales PJ 63.6 60.6 Commodity Revenue $m 507.6 427.5 Average commodity price A$/GJ 7.98 7.05 Energy Markets Electricity sales TWh 8.6 8.4 Natural gas sales PJ 59.1 42.2 Corporate Origin capex $m 92 74 Origin investments $m 8 104 Net cash from APLNG $m 320 124		(1%) 64.5 5% 59.8 19% 610.2 13% 10.21 2% 7.8 40% 67.2 24% 127 (92%) 141 158% 603	0% 262.8 265.3 6% 246.1 250.6 (17%) 1,707.0 2,643.5 (22%) 6.94 10.55 9% 33.5 33.5 (12%) 231.3 259.2 (28%) 339 500 (94%) 161 165 (47%) 709 1,275
				(1%)
				(2%)
				(35%)
				(34%)
				-
				(11%)
				(32%)
				(2%)
				(44%)

For further information:

Media Investors Tracy Ong Liam Barry Ph: +61 2 8345 5213 Ph: +61 2 9375 5991 Mobile: +61 408 400 227 Mobile: +61 401 710 367

2

Quarterly Report June 2021

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Integrated Gas

30 July 2021 June 2021 Quarterly Report

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Oil and LNG markets

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Japan Customs-Cleared Crude LNG Spot ($US/mmbtu) FX (AUD/USD)
($US/bbl)
80 Q4 18 Q4 0.78 Q4
16 0.76
70
14
0.74
60 12
0.72
10
50 0.70
8
0.68
40 6
0.66
4
30
2 0.64
20 - 0.62
JCC Realised oil price (quarterly)
Source: Petroleum Association of Japan, Refinitiv Source: IHS Markit [1]
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• APLNG’s effective oil price in the Jun-21 quarter was US$51/bbl (A$66/bbl), up from US$44/bbl (A$57/bbl) in the Mar-21 quarter and down from US$68/bbl (A$104/bbl) in the Jun-20 quarter

• FY2021 APLNG realised lagged oil price was US$43/bbl (A$58/bbl), down from US$68/bbl (A$101/bbl) in FY2020. Recent higher oil prices will flow through into the effective price for FY2022

• Continued recovery in global oil demand and OPEC+ supply restrictions contributed to stronger JCC prices. Spot LNG prices improved in Jun-21 quarter driven by ongoing supply bottlenecks and strong demand in Asia and Europe

• 1) The use of this content was authorised in advance. Any further use or redistribution of this content is strictly prohibited without written permission by IHS Markit.

• 3 30 July 2021 June 2021 Quarterly Report

APLNG production stable as fields continue to perform

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Quarterly production and sales volumes Financial year production and sales volumes
(Origin share) (Origin share)
80 265.3 262.8
65.4 64.7 63.6 280 250.6 246.1
60.6
60 240 61.9 61.3
15.5 14.9
200
39.0 36.4
9.0 8.4 160
40
25.0 25.0 120 101.1 98.6
20 80
40
15.8 16.4 63.3 66.4
- -
Mar-21 QTR Mar-21 QTR Jun-21 QTR Jun-21 QTR FY2020 FY2020 FY2021 FY2021
Production Sales Production Sales Production Sales Production Sales
Non - operated Spring Gully & Denison Non - operated Spring Gully & Denison
Condabri, Talinga, Orana Reedy Creek, Combabula and Peat Condabri, Talinga, Orana Reedy Creek, Combabula and Peat
PJ PJ
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• Jun-21 quarter production relatively stable compared to Mar21 quarter

• Jun-21 quarter sales volume up 5% vs Mar-21 quarter reflecting more volumes lifted from non-operated production and timing of LNG cargoes

• FY2021 production relatively stable compared to prior year despite a significant reduction in development activity and costs:

• Reductions at Condabri, Talinga, Orana in response to lower demand and planned maintenance early in the year

• Partially offset by increases at Reedy Creek/Combabula with ramp up of the ERIC pipeline in the prior period

• FY2021 sales volume down 2% primarily reflecting lower purchased gas

30 July 2021

June 2021 Quarterly Report

4

APLNG revenue up 19% from prior quarter

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Jun-21 QTR vs Mar-21 QTR (Origin Share)

FY2021 vs FY2020 (Origin Share)

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600 3,000
508 2,643 80
10 19
500 427 3 48 82 2,500 323 (945)
400 53 2,000 (49) (22) 1,707
252
300 1,500
2,320
200 374 425 1,000
1,455
100 500
- -
Mar-21 LNG LNG price Domestic Domestic Jun-21 FY2020 LNG LNG price Domestic Domestic FY2021
QTR volume volume price QTR volume volume price
LNG Domestic LNG Domestic
$m $m
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• APLNG revenue up 19% from Mar-21 quarter:

• LNG revenue up 14% primarily driven by higher realised oil prices

• Domestic revenue up 54% primarily driven by higher short-term contract volumes increasing the average realised price

• APLNG revenue down 35% from prior year:

• LNG revenue down 37% due to lower realised oil prices, partially offset by higher spot LNG volumes and prices

• Domestic revenue down 22% primarily due to roll off of legacy contracts as well as lower realised prices on legacy oil-linked sales to QGC

30 July 2021

June 2021 Quarterly Report

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APLNG capital expenditure (Origin share)

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Quarterly APLNG Capex (Origin share) 1 Financial Year APLNG Capex (Origin share) 1
400
40 346
34
33
30 28 300
2
20 200 161
34
313 9
26
10 100
152
- -
Mar-21 QTR Jun-21 QTR FY2020 FY2021
Sustain and Other Exploration and Appraisal Sustain and Other Exploration and Appraisal
$m $m
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• Capex was up $6 million (21%) from Mar-21 quarter in line with planned phasing of operated spend

• FY2021 capex was down $185 million (53%) reflecting a ramp down in drilling enabled by strong field performance, lower infrastructure spend following completion of the Talinga Orana Gas Gathering Station (TOGGS), as well as lower exploration and non-operated development activity

1) APLNG capex is reported on an accrual basis. 6 30 July 2021 June 2021 Quarterly Report

Integrated Gas – Origin capex

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Quarterly Integrated Gas - Other Capex
20
15
10
17
13
5
-
Mar-21 QTR Jun-21 QTR
$m
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• Jun-21 quarter spend primarily relates to E&A activity in the Beetaloo Basin including clean-up of the Kyalla well with nitrogen support, in preparation for an extended production test. Operations were temporarily paused in July to investigate a potential downhole flow restriction

• A rig was mobilised to the Canning Basin during the quarter

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Financial Year Integrated Gas – Other Capex

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100
80
60
94
40
59
20
-
FY2020 FY2021
$m
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• FY2021 capex spend primarily relates to Beetaloo E&A activity associated with the Kyalla well appraisal program, Cooper-Eromanga drilling and appraisal and the Canning farm-in

• Capex was lower due to timing of spend in the Beetaloo and Canning basin

7 30 July 2021

June 2021 Quarterly Report

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Energy Markets

8 30 July 2021 June 2021 Quarterly Report

Electricity and natural gas markets

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Electricity ($/MWh) Gas ($/GJ)
200 12
Q4 Q4 11
(Jun-20) (Jun-21) Q4 Q4
150 10 (Jun-20) (Jun-21)
9
8
100
7
6
50 5
4
0 3
Mar-19 Jun-19 Sep-19 Dec-19 Mar-20 Jun-20 Sep-20 Dec-20 Mar-21 Jun-21 Mar-19 Jun-19 Sep-19 Dec-19 Mar-20 Jun-20 Sep-20 Dec-20 Mar-21 Jun-21
QLD NSW VIC SA Victoria Adelaide Brisbane Sydney Wallumbilla
A$/GJ
A$/MWh
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Source: AEMO

Source: AEMO

• Average NEM spot electricity price for Jun-21 quarter was $94.7/MWh, a significant increase from $39.6/MWh in the Jun-20 quarter and $36.3/MWh higher than Mar-21 quarter:

• Increase from Mar-21 quarter due to numerous unplanned baseload outages, colder seasonal temperatures combined with milder weather in the Mar-21 quarter, lower solar production and higher fuel costs for gas generation

• Increase from Jun-20 quarter also due to unplanned baseload outages in and higher generation fuel costs in current quarter, and an earlier start to cooler seasonal weather

• Average domestic spot gas price for Jun-21 quarter was $8.25/GJ, an increase from $6.07/GJ in the Mar-21 quarter and $4.39/GJ in the Jun-20 quarter:

• Increase from both Jun-20 and Mar-21 quarters driven by higher demand, mainly in the southern states, due to colder weather and unplanned baseload electricity outages

9 30 July 2021 June 2021 Quarterly Report

COVID-19 impacts on electricity demand

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COVID19 Impact on Demand (Weather Corrected) - All States

10% 5% 0% (5%) (10%) (15%) (20%) (25%) (30%) Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21 Residential SME C&I Overall Retail (Residential + SME)

Source: Origin customer meter data and internal analysis

• Weather corrected electricity demand across all states is 2% lower than pre COVID-19 levels having significantly recovered from a low of 10% in Apr-20.

• Residential volumes remained slightly above pre COVID-19 levels with an increase in working from home

• C&I and SME volumes are down 5% and 6% respectively, particularly driven by service sectors such as travel, hospitality, recreation and education

30 July 2021

June 2021 Quarterly Report

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Energy Markets – Electricity sales

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Jun-21 Quarter vs Jun-20 Quarter
(TWh)
7.8 0.2 0.5 8.6
8
4.3
6 3.9
4
2 4.0 4.2
-
Jun-20 QTR Retail Business Jun-21 QTR
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FY2021 vs FY2020
(TWh)
33.5 0.2 (0.1) 33.5
35
30
25 17.4 17.3
20
15
10
16.1 16.3
5
-
FY20 Retail Business FY21
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• Retail volumes up 6% or 0.2 TWh on Jun-20 quarter due to – colder weather (+0.1 TWh);

• Retail volumes up 1% or 0.2 TWh on FY2020 due to

  • COVID-19 impacts (+0.6 TWh), with higher residential demand and partial recovery of SME demand;

• COVID-19 impacts (+0.2 TWh) with higher residential demand and partial recovery of SME demand, (compared to nation wide lockdown in Jun-20 quarter);

• lower usage due to solar and energy efficiency (-0.3 TWh);

• lower usage due to solar and energy efficiency (-0.1 TWh)

• – stable customer numbers

• lower SME customer usage and numbers due to low margin tender losses (-0.1 TWh); and

• Net nil impact from weather as a milder summer was offset by a cooler Jun-21 quarter

• Business volumes up 12% or 0.5 TWh on Jun-20 quarter with partial recovery of demand and new contract wins

• Business volumes down 1% on FY2020 due to COVID-19 impacts, partly offset by new contract wins

11 30 July 2021

June 2021 Quarterly Report

Energy Markets – Natural gas sales

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Jun-21 Quarter vs Jun-20 Quarter
FY2021 vs FY2020
(PJ)
(PJ)
80
70 67.2 0.6 (7.6) 300 259.2 0.9 11.6 17.2
60 11.6 (1.1) 59.1 250 - 231.3
10.5 55.6
50 41.4 200 38.4
40 33.9
150
30 158.6 147.0
100
20
50
10
14.2 14.7 45.0 45.9
0 0
Jun-20 QTR Retail Business Internal Jun-21 QTR FY20 Retail Business Internal FY21
Generation Generation
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• Retail volumes up 4% on Jun-20 quarter due to higher customer numbers (0.4 PJ) and partial recovery of SME demand from COVID-19 impacts (0.2 PJ)

• Business volumes down 18% on Jun-20 due to expiration of contracts, partly offset by partial recovery from COVID-19 impacts

• Gas to generation down 9% on Jun-20 quarter primarily due to planned full station outage at Darling Downs power station during May

• Retail volumes up 2% due to higher customer numbers (0.8 PJ) plus impacts of COVID-19, with higher residential demand, partial recovery of SME demand and a cooler winter being offset by milder weather in Dec-20 quarter

• Business volumes down 6% due to expiration of contracts and ongoing COVID-19 impacts

• Gas to generation down 31% due to lower pool prices for most of the year, as well as elevated gas generation in FY2020 to cover an outage at Eraring Power Station

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June 2021 Quarterly Report

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150 100

Energy Markets Capital expenditure

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Quarterly Energy Markets capex and investments ($m)

Financial Year Energy Markets capex and investments ($m)

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600
500
165
150
400
161
104 300
8
200 395
50
263
74 100
53
- -
Mar-21 QTR Jun-21 QTR FY20 FY21
Capex Investment Capex Investment
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200
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• Capex spend in Jun-21 quarter included generation maintenance, spend in preparation for the move to 5 minute settlement of pool prices, spend on the Kraken retail platform ($13m) and LPG maintenance

• Investment spend in Jun-21 quarter primarily relates to equity investments in the LPG business. Investment spend in Mar-21 quarter related to consideration for the 20% equity investment in Octopus Energy

• As expected, capex is lower than the prior year due to a combination of Eraring and Mortlake outages not repeating in FY2021 and overall reduction in generation spend

• Investment spend in FY2021 includes consideration for the 20% equity interest in Octopus Energy ($141 million), OC Energy ($11 million) and equity investments in LPG business ($5 million)

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Data tables

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30 July 2020

June 2021 Quarterly Report

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Integrated Gas – APLNG 100%

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APLNG	Unit	Jun-21 QTR	Mar-21 QTR	% Change	Jun-20 QTR	% Change	FY21	FY20	% Change
Total production	PJ	172.6	174.5	(1%)	172.0	0%	700.7	707.6	(1%)
Total sales	PJ	169.7	161.7	5%	159.4	6%	656.2	668.3	(2%)
LNG
Production	kt	2,284.7	2,342.6	(2%)	1,936.4	18%	8,971.0	8,712.8	3%
Sales	kt	2,300.4	2,282.0	1%	1,952.5	18%	8,985.4	8,686.8	3%
Commodity Revenue	$m	1,133.8	997.7	14%	1,376.0	(18%)	3,879.9	6,187.7	(37%)
Average realised price	US$/mmbtu	7.23	6.45	12%	8.80	(18%)	6.17	9.12	(32%)
Domestic Gas
Sales	PJ	42.2	35.3	20%	51.2	(18%)	158.4	187.1	(15%)
Commodity Revenue	$m	219.8	142.3	54%	251.1	(12%)	671.9	861.5	(22%)
Average realised price	$/GJ	5.21	4.03	29%	4.90	6%	4.24	4.61	(8%)
APLNG capex1
E&A	$m	-	5	n/a	26	n/a	23	88	(74%)
Sustain and Other	$m	90	70	29%	245	(63%)	406	834	(51%)

• Domestic revenue includes a high proportion of long term legacy contracts

• 1) APLNG capex is reported on an accrual basis.

15 30 July 2021 June 2021 Quarterly Report

APLNG sources of gas – APLNG 100%

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Production volumes	Units	Jun-21 QTR	Mar-21 QTR	% Change	Jun-20 QTR	FY21	FY20
Operated
Spring Gully	PJ	22.5	24.0	(6%)	25.3	97.1	104.0
Peat	PJ	0.9	0.9	0%	0.6	3.5	3.0
Talinga	PJ	18.4	19.1	(4%)	16.3	74.3	72.8
Orana	PJ	16.5	15.8	4%	16.4	63.0	68.4
Condabri	PJ	31.7	31.8	(0%)	30.3	125.7	128.3
Combabula/ReedyCreek	PJ	43.1	41.4	4%	41.2	173.6	165.9
Total operatedproduction	PJ	133.0	133.1	(0%)	130.0	537.3	542.4
Non-operated
Fairview (GLNG)	PJ	7.6	7.8	(3%)	8.4	31.6	34.6
Arcadia (GLNG)	PJ	1.6	1.3	23%	0.4	4.6	1.2
Angry Jungle (GLNG)	PJ	1.3	1.1	18%	0.7	4.2	1.7
Anya (QGC)	PJ	0.3	0.3	0%	0.4	1.4	1.7
Kenya East (QGC)	PJ	11.3	13.4	(16%)	14.6	52.7	59.2
Kenya (QGC)	PJ	16.6	16.5	1%	16.4	64.9	62.9
Bellevue (QGC)	PJ	1.0	1.0	0%	1.1	4.0	3.8
Total non-operatedproduction	PJ	39.6	41.4	(4%)	42.0	163.4	165.2
Total upstreamproduction	PJ	172.6	174.5	(1%)	172.0	700.7	707.6
Natural gas purchases	PJ	3.2	1.4	129%	3.6	6.3	17.5
Changes in Upstreamgas inventory/other	PJ	3.0	(0.3)	n/a	(8.2)	(11.6)	(15.2)
Total sources of naturalgas	PJ	178.7	175.6	2%	167.4	695.4	709.9

30 July 2021

June 2021 Quarterly Report

16

Operated drilling & production

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APLNG Operated Production Wells

				Development Wells	Development Wells
		Avg daily production (APLNG share)		Wells drilled	Wells commissioned
Bowen	Spring Gully	247 TJ/d	Jun-21 QTR FY2021	- - - 5
	Peat	10 TJ/d	Jun-21 QTR FY2021	- - - -
Surat	Talinga	202 TJ/d	Jun-21 QTR FY2021	- 8 9 11
	Orana	182 TJ/d	Jun-21 QTR FY2021	16 - 40 47
	Condabri	348 TJ/d	Jun-21 QTR FY2021	7 21 37 39
	Combabula / Reedy Creek	473 TJ/d	Jun-21 QTR FY2021	- - - 39
	TOTAL	1461 TJ/d	Jun-21 QTR FY2021	23 29 86 141

30 July 2021

June 2021 Quarterly Report

17

APLNG uses of gas – APLNG 100%

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Uses of gas	Units	Jun-21 QTR	Mar-21 QTR	**% Change **	Jun-20 QTR	FY21	FY20
LNG feed gas	PJ	136.5	140.3	(3%)	116.2	537.0	522.8
Domestic sales	PJ	42.2	35.3	20%	51.2	158.4	187.1
Total uses of naturalgas	PJ	178.7	175.6	2%	167.4	695.4	709.9

LNG	Units	Jun-21 QTR	Mar-21 QTR	% Change	Jun-20 QTR	FY21	FY20
LNG Production	kt	2,284.7	2,342.6	(2%)	1,936.4	8,971.0	8,712.8
Changes in LNG inventory	kt	15.6	(60.7)	(126%)	16.1	14.4	(26.0)
Total LNG sales volume	kt	2,300.4	2,282.0	1%	1,952.5	8,985.4	8,686.8
LNG cargos sold	#	33	33	0%	28	130	125
APLNG commodity revenue	Units	Jun-21 QTR	Mar-21 QTR	% Change	Jun-20 QTR	FY21	FY20
LNG	$m	1,133.8	997.7	14%	1,376.0	3,879.9	6,187.7
Domestic Gas	$m	219.8	142.3	54%	251.1	671.9	861.5
Total Commodity Revenue	$m	1,353.5	1,140.0	19%	1,627.1	4,551.8	7,049.2

Sales – APLNG average realised prices	Units	Jun-21 QTR	Mar-21 QTR	% Change	Jun-20 QTR	FY21	FY20
LNG	$/GJ	8.90	7.89	13%	12.72	7.79	12.86
Domestic Gas	$/GJ	5.21	4.03	29%	4.90	4.24	4.61
Average Commodity price	$/GJ	7.98	7.05	13%	10.21	6.94	10.55

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Integrated Gas – Origin share

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APLNG (ORG share)	Unit	Jun-21 QTR	Mar-21 QTR	% Change	Jun-20 QTR	% Change	FY21	FY20	% Change
Total production (ORG share)	PJ	64.7	65.4	(1%)	64.5	0%	262.8	265.3	(1%)
Total sales (ORG share)	PJ	63.6	60.6	5%	59.8	6%	246.1	250.6	(2%)
LNG (ORG share)
Production	kt	856.8	878.5	(2%)	726.2	18%	3,364.1	3,267.3	3%
Sales	kt	862.6	855.7	1%	732.2	18%	3,369.5	3,257.6	3%
Commodity Revenue	$m	425.2	374.1	14%	516.0	(18%)	1,455.0	2,320.4	(37%)
Average realised price	US$/mmbtu	7.23	6.45	12%	8.80	(18%)	6.17	9.12	(32%)
Domestic Gas (ORG share)
Sales	PJ	15.8	13.2	20%	19.2	(18%)	59.4	70.2	(15%)
Commodity Revenue	$m	82.4	53.4	54%	94.2	(13%)	252.0	323.1	(22%)
Average realised price	$/GJ	5.21	4.03	29%	4.90	6%	4.24	4.61	(8%)

Integrated Gas Other	Unit	Jun-21 QTR	Mar-21 QTR	% Change	Jun-20 QTR	% Change	FY21	FY20	% Change
Origin only capex
Capex	$m	3	2	50%	1	200%	13	9	44%
E&A	$m	10	15	(33%)	22	(55%)	46	85	(46%)
Origin oil hedging and LNG trading
Hedge premium expense	$m	(3.0)	(2.5)	20%	1.3	(331%)	(8.6)	(28.5)	(70%)
Gain / (Loss) on oil hedging	$m	2.1	(0.1)	(2200%)	(0.1)	(2200%)	101.0	7.7	1212%
Gain /(Loss)on LNG trading	$m	(10.6)	(9.6)	10%	11.6	(191%)	(37.1)	(71.5)	(48%)
Total oil hedging and LNG trading gain/(loss)	$m	(11.5)	(12.1)	(5%)	12.8	(190%)	55.4	(92.3)	(160%)

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Energy Markets

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	Unit	Jun-21	Mar-21	% Change	Jun-20	% Change	FY21	FY20	% Change
Sales volumes
Electricity – Retail	TWh	4.2	3.9	10%	4.0	6%	16.3	16.1	1%
Electricity – Business	TWh	4.3	4.5	(4%)	3.9	12%	17.3	17.4	(1%)
Natural gas – Retail	PJ	14.7	5.9	149%	14.2	4%	45.9	45.0	2%
Natural gas – Business	PJ	33.9	30.4	11%	41.4	(18%)	147.0	158.6	(7%)
Natural gas – Internal generation	PJ	10.5	5.9	78%	11.6	(9%)	38.4	55.6	(31%)
Capex	$m	74	53	39%	102	(27%)	263	395	(33%)
Investments	$m	8	104	(92%)	141	(94%)	161	165	(3%)

Electricity sales volume (TWh)

Jun-21 QTR Jun-20 QTR FY21 FY20	Jun-21 QTR Jun-20 QTR FY21 FY20	Jun-21 QTR Jun-20 QTR FY21 FY20	Jun-21 QTR Jun-20 QTR FY21 FY20	Jun-21 QTR Jun-20 QTR FY21 FY20
Volumes sold (TWh) Retail Business Retail Business Retail Business Retail Business
New South Wales Queensland Victoria South Australia	2.1 2.2 1.0 0.9 0.8 0.8 0.4 0.4	2.0 2.0 0.9 0.8 0.7 0.7 0.3 0.4	7.9 8.6 4.3 3.7 2.8 3.2 1.3 1.8	7.8 8.7 4.1 3.6 2.9 3.4 1.3 1.7
Total volumes sold	4.24 4.32	3.98 3.86	16.25 17.29	16.09 17.43

Natural Gas sales volume (PJ)

	Jun-21 QTR Jun-20 QTR FY21 FY20	Jun-21 QTR Jun-20 QTR FY21 FY20	Jun-21 QTR Jun-20 QTR FY21 FY20	Jun-21 QTR Jun-20 QTR FY21 FY20
Volumes sold (PJ)	Retail Business Retail Business Retail Business Retail Business
New South Wales Queensland Victoria South Australia	3.9 5.2 0.9 14.0 8.4 11.8 1.6 2.8	3.3 7.3 0.7 14.7 8.4 16.7 1.7 2.7	12.1 24.1 3.3 66.8 24.8 46.3 5.7 9.8	11.0 22.8 3.1 66.9 25.2 58.3 5.7 10.6
External volumes sold	14.7 33.9	14.2 41.4	45.9 147.0	45.0 158.6
Internal sales (generation)	10.5	11.6	38.4	55.6
Total volumes sold	59.1	67.2	231.3	259.2

20 30 July 2021 June 2021 Quarterly Report

Conversion factors and abbreviations

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Conversion factors	Conversion factors
LNG	0.0554 PJ/ktonnes
LNG	1.0551 GJ/mmbtu
Abbreviations
$ APLNG	Australian dollars, unless stated otherwise Australia Pacific LNG PtyLimited – an incorporatedjoint venture between Origin, ConocoPhillips and Sinopec
Barrels (bbl)	an international measure of oilproduction. 1 barrel = 159 litres
E&A	Exploration & Appraisal
GJ	gigajoule = 109 joules
JCC	Japan Customs-cleared Crude
joule	primarymeasure of energyin the metric system
kT	Kilo tonnes = 1,000 tonnes
LNG	liquefied naturalgas
mmbbl	million barrels
mmboe	million barrels of oil equivalent
mmbtu	million British thermal units
MWh	Megawatt hour = 103 kilowatt hours
PJ	petajoule = 1015 joules
t	tonnes
TJ	terajoule = 1012 joules
TJ/d	terajoulesper day
TWh	Terrawatt hour = 109 kilowatt hours

Conversion factors	Conversion factors
LNG	0.0554 PJ/ktonnes
LNG	1.0551 GJ/mmbtu
Abbreviations
$ APLNG	Australian dollars, unless stated otherwise Australia Pacific LNG PtyLimited – an incorporatedjoint venture between Origin, ConocoPhillips and Sinopec
Barrels (bbl)	an international measure of oilproduction. 1 barrel = 159 litres
E&A	Exploration & Appraisal
GJ	gigajoule = 109 joules
JCC	Japan Customs-cleared Crude
joule	primarymeasure of energyin the metric system
kT	Kilo tonnes = 1,000 tonnes
LNG	liquefied naturalgas
mmbbl	million barrels
mmboe	million barrels of oil equivalent
mmbtu	million British thermal units
MWh	Megawatt hour = 103 kilowatt hours
PJ	petajoule = 1015 joules
t	tonnes
TJ	terajoule = 1012 joules
TJ/d	terajoulesper day
TWh	Terrawatt hour = 109 kilowatt hours

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