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To Company Announcements Office Company ASX Limited From Helen Hardy Subject Quarterly Report December 2020	Facsimile 1300 135 638
	Date 29 January 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

29 January 2021

Quarterly Report December 2020

Origin Energy (Origin) has released its Quarterly Report for the period to 31 December 2020, covering the performance of its Integrated Gas and Energy Markets divisions.

Integrated Gas: record production and increased revenue for the quarter

Record production by Australia Pacific LNG, rising 6 per cent from the September quarter in response to increased market demand and completion of planned maintenance.
Commodity revenue increased 6 per cent during the quarter as higher volumes offset lower realised contracted LNG prices. Sales volumes increased 12 per cent, with increased demand resulting in less banking of non-operated production and a draw down on LNG inventory.
December quarter realised gas price was A$6.17/GJ, comprising an average LNG price (contracted and spot) of US$5.20/mmbtu (A$6.70/GJ) and an average domestic price of A$4.40/GJ.
Cash distributions received from Australia Pacific LNG amounted to $265 million in the period.
Notice of Discovery lodged with Northern Territory government, with encouraging initial results from the Kyalla well in the Beetaloo. Further work is required to enable it to flow continually without assistance before commencing extended production testing during the dry season.
Announced a farm-in to prospective Canning Basin with an expected spend over two years of $35 million and options to assume operatorship for any significant gas and CCS developments.

Energy Markets: electricity volumes lower, gas volumes higher for the quarter

Electricity sales volume reduced 4 per cent on the December 2019 quarter: 5 per cent decrease in Retail due to milder weather, lower usage, and lower SME customer numbers; Business volumes 3 per cent lower with COVID-19 impacts partly offset by new contract wins.
Gas sales volume increased 1 per cent on the December 2019 quarter: 16 per cent increase in the business segment as contract wins more than offset a 6 per cent decline in retail largely due to COVID-19 impacts on SME and milder weather; gas used in generation fell 29 per cent.
Announced an additional ~$65 million investment in Octopus Energy to maintain Origin’s 20 per cent equity interest following a partnership between Octopus and Tokyo Gas that will see the launch of Octopus into Japan and Tokyo Gas take a 9.7 per cent stake in Octopus for US$200 million.

Origin CEO Frank Calabria said, “Strong gas production at Australia Pacific LNG for the quarter eclipsed the previous record, which combined with higher prices on short term domestic and LNG spot sales offset the lagged impact of lower oil prices under long term LNG contracts.

“We are encouraged by initial results in the Beetaloo, which met our primary objective to flow liquids rich gas to surface and confirmed elevated liquids yields and low levels of CO2.

“We recently farmed-in to the prospective Canning Basin, giving Origin positions in Australia’s three large prospective onshore basins – the Beetaloo, Canning and CooperEromanga – providing exposure to what we believe are the most prospective shale formations in Australia.

“In Energy Markets, electricity demand in the retail segment has increased 1 per cent for the year to date, as residential customers spent more time at home due to COVID-19. However,

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we continue to see the impact of the pandemic in the SME and large business segments, particularly in Victoria, with mild summer conditions due to the La Niña weather pattern also impacting demand in the quarter.

“We are making strong progress on our Kraken rollout, passing the milestone of our first 50,000 customers migrated to the new platform in December 2020.

“We are excited by Octopus’ continued growth as it launches into the Japan market in partnership with Tokyo Gas. Tokyo Gas has also taken a 9.7 per cent equity stake in Octopus Energy representing a material value uplift since our initial investment, reflecting the company’s strong performance and impressive growth trajectory,” Mr Calabria said.

Quarterly results overview

Unit	Dec-20 Sep-20 % Mvt Dec-19 % Mvt FYTD-21 FYTD-20 % Mvt	Dec-20 Sep-20 % Mvt Dec-19 % Mvt FYTD-21 FYTD-20 % Mvt	Dec-20 Sep-20 % Mvt Dec-19 % Mvt FYTD-21 FYTD-20 % Mvt	Dec-20 Sep-20 % Mvt Dec-19 % Mvt FYTD-21 FYTD-20 % Mvt
Integrated Gas – Share of APLNG Production PJ Sales PJ Commodity Revenue $m Average commodity price A$/GJ Energy Markets Electricity sales TWh Natural gas sales PJ Corporate Origin capex $m Origin investments $m Net cash from APLNG $m	68.3 64.2 64.5 57.4 398.0 373.9 6.17 6.52 8.0 8.7 58.0 72.0 98 74 48 1 265 -	6% 67.6 12% 65.4 6% 716.5 (5%) 10.95 (8%) 8.3 (19%) 57.2 32% 162 n/m 5 n/a 425	1% 132.6 134.1 (1%) 121.8 128.6 (44%) 771.9 1,404.8 (44%) 6.34 10.92 (4%) 16.7 17.0 1% 130.0 134.3 (39%) 172 258 (67%) 48 8 (38) 265 520
				(1%)
				(5%)
				(45%)
				(42%)

				(2%)
				(3%)

				(33%)
				n/m
				(49)

For further information:

Media

Tracy Ong Ph: +61 2 8345 5213 Mobile: +61 408 400 227

Investors

Liam Barry Ph: +61 2 9375 5991 Mobile: +61 401 710 367

Origin Energy Quarterly Report December 2020

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Integrated Gas

2 29 January 2021 December 2020 Quarterly Report

Oil and LNG markets

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Japan Customs-Cleared Crude LNG Spot ($US/mmbtu) FX (AUD/USD) [2]
80 ($US/bbl) 7 0.74
Q2 Q2 Q2
6
70 0.72
5
60 0.70
4
50 0.68
3
40 0.66
2
30 1 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 realised lagged oil price in the Dec-20 quarter was US$34/bbl (A$46/bbl), down from US$43/bbl (A$60/bbl) in the Sep-20 quarter and US$69/bbl (A$100/bbl) in the Dec-19 quarter
As at 31 December 2020, ~91% of APLNG’s FY2021 JCC oil exposure was priced at ~US$43/bbl, based on contract lags
The Dec 20 quarter saw an improvement in global oil demand, coinciding with OPEC+ supply restrictions, acting to support JCC, while JKM prices were buoyed by strong northern hemisphere winter demand and supply bottlenecks
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 29 January 2021 December 2020 Quarterly Report

APLNG achieves record production in the December-20 quarter

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Quarterly production and sales volumes FYTD production and sales volumes
80 (Origin share) 160 (Origin share)
68.3 134.1 132.6
64.2 64.5 128.6
121.8
57.4
60 15.8 120 31.0 30.9
15.1
9.6 19.7 19.0
9.4
40 80
23.0 25.7 52.5 48.6
20 40
16.7 17.3 30.9 34.0
- -
Sep-20 QTR Sep-20 QTR Dec-20 QTR Dec-20 QTR FYTD-20 FYTD-20 FYTD-21 FYTD-21
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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Dec-20 quarter production up 6% from Sep-20 quarter:
Operated production up 7% in response to higher demand
Non-operated production up 5% with sustained facility reliability and well availability following completion of planned maintenance in the prior quarter
Dec-20 quarter sales volume up 12% vs Sep-20 quarter with increased demand resulting in less banking of non-operated production and a drawdown on LNG inventory due to cargo timing
FYTD-21 production relatively stable from prior year:
reduced production primarily in Sep-20 quarter at Condabri, Talinga, Orana in response to lower demand and planned facility maintenance
partially offset by increases at Reedy Creek/Combabula with ramp up of the ERIC pipeline in the prior period
FYTD-21 sales volume down 5% as lower demand resulted in less purchases and lower volumes lifted from non-operated production, partially offset by a drawdown in LNG inventory

4 29 January 2021 December 2020 Quarterly Report

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APLNG revenue up in the quarter but lower than prior year

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Dec-20 QTR vs Sep-20 QTR (Origin Share)
500
0 0 398
400 374 62 (51) (3) 16
65
52
300
374
200
322 333
100
-
Sep-20 LNG LNG price Domestic Domestic Dec-20
QTR volume volume price QTR
LNG Domestic
$m
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FYTD-21 vs FYTD-20 (Origin Share)
1,600
1,405
(53)
1,400
146
1,200
(550)
1,000
802 (12) (18) 772
800
116
600 1,259
400
656
200
-
FYTD-20 LNG LNG price Domestic Domestic FYTD-21
volume volume price
LNG Domestic
$m
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APLNG revenue up 6% from Sep-20 quarter:
LNG revenue up 3% with lower realised oil prices on contract volumes offset by higher spot LNG volumes and prices
Domestic revenue up 25% due to higher realised prices, including on legacy oil-linked sales to QGC
APLNG revenue down 45% on prior year:
LNG revenue down 48% due to lower realised oil prices and lower volumes
Domestic revenue down 21% driven by lower legacy contract volumes and lower realised prices on short term contracts and legacy oil-linked sales to QGC

December 2020 Quarterly Report

5 29 January 2021

APLNG capital expenditure (Origin share)

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Quarterly APLNG Capex (Origin share)1 FYTD APLNG Capex (Origin share)1
80 180 167
63 160 18
60 5 140
120
99
36 100
40 8
3 80
59 150
60
20
33 40 91
20
-
-
Sep-20 QTR Dec-20 QTR FYTD-20 FYTD-21
Sustain and Other Exploration and appraisal Sustain and Other Exploration and appraisal
$m
$m
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Capex was down $27 million (43%) from Sep-20 quarter with a continued reduction in development activity primarily related to improved field performance allowing reduced connections and commissioning, lower infrastructure spend and a decrease in non-operated development activity
Capex was down $68 million (41%) reflecting a ramp down in development activity enabled by strong field performance as well as lower exploration and nonoperated activity
1) APLNG capex is reported on an accrual basis.

December 2020 Quarterly Report

29 January 2021

Integrated Gas – Origin capex

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Quarterly Integrated Gas - Other Capex FYTD Integrated Gas - Other Capex
20 45
40
35
15
30
25
10
20 42
15
14 15 29
5
10
5
- -
Sep-20 QTR Dec-20 QTR FYTD-20 FYTD-21
$m $m
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Dec-20 quarter spend primarily relates to appraisal activity in the Beetaloo Basin, including mobilisation, fracture stimulation and initial flowback activities at the Kyalla well
Origin also spudded the Obelix-2 well in the CooperEromanga Basin during the quarter and has since completed the well and taken log and core data for evaluation
Capex spend relates primarily to Beetaloo E&A activity
Lodged a Notice of Discovery with Northern Territory government after encouraging initial results at Kyalla-117
- Met objective to flow liquids rich gas to surface and confirmed elevated liquids yields and low levels of CO2
- Further work underway to enable continuous unassisted production, EPT planed in the dry season with results expected in Q4 FY2021

December 2020 Quarterly Report

7 29 January 2021

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Energy Markets

8 29 January 2021 December 2020 Quarterly Report

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Electricity and natural gas markets

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Electricity ($/MWh) Natural Gas ($/GJ)
250 13
200 (Dec-19)Q2 (Dec-20)Q2 11 (Dec-19)Q2 (Dec-20)Q2
150 9
100 7
50 5
3
0
Oct-18 Jan-19 Apr-19 Jul-19 Oct-19 Jan-20 Apr-20 Jul-20 Oct-20 Oct-18 Jan-19 Apr-19 Jul-19 Oct-19 Jan-20 Apr-20 Jul-20 Oct-20
QLD NSW VIC SA Source: AEMOVictoria Adelaide Brisbane Sydney Wallumbilla
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Source: AEMO

Average NEM spot electricity price for Dec-20 quarter was $43.8/MWh, a significant decrease from $70.5/MWh in the Dec-19 quarter and in line with the Sep-20 quarter:
Decline from Dec-19 due to lower demand as a result of COVID-19, milder weather, lower fuel costs for gas and coal generation and increased renewable penetration
Average domestic spot gas price for Dec-20 quarter was $5.95/GJ, compared to $7.51/GJ in the Dec-19 quarter and $4.53/GJ in the Sep-20 quarter:
Decrease from Dec-19 driven by reduced demand as a result of COVID-19 and milder weather
Increase from Sep-20 driven by linkage to higher Asian LNG prices offsetting impacts of COVID-19 and milder weather

9 29 January 2021 December 2020 Quarterly Report

COVID-19 impacts on state electricity demand

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----- Start of picture text -----

NSW, Queensland and SA COVID-19 Impact on Demand Victoria COVID-19 Impact on Demand
(Weather Corrected) 10% (Weather Corrected)
10% (Weekly % change vs 2019) (Weekly % change vs 2019)
5%
5%
0%
0%
(5%)
(5%)
(10%)
(10%)
(15%)
(15%)
(20%)
(20%)
(25%) (25%)
(30%) (30%)
Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20
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Source: Origin customer meter data and internal analysis

Weather corrected demand across all NEM states (ex Victoria), is 3% lower than pre-COVID levels having significantly recovered from a low of 10% in Apr-20. Retail volumes remain slightly above pre-COVID levels, buoyed by residential demand.
Weather corrected demand in Victoria remains below pre-COVID levels driven by lower C&I demand. Retail demand remains at pre-COVID levels with SME demand recovering considerably during the quarter.

December 2020 Quarterly Report

10 29 January 2021

Energy Markets – Electricity sales

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Dec-20 Quarter vs Dec-19 Quarter
(TWh)
8.3 8.0
(0.2) (0.1)
8
6 4.5 4.4
4
2 3.7 3.6
-
Dec-19 QTR Retail Business Dec-20 QTR
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FYTD-21 vs FYTD-20 (TWh)

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18 17.0 0.1 (0.4) 16.7
16
14
12 8.9 8.5
10
8
6
4 8.1 8.2
2
-
FYTD-20 Retail Business FYTD-21
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Retail volumes down 5% on Dec-19 quarter due to – milder weather from La Niña conditions (-0.1 TWh);
Retail volumes up 1% on FYTD-20 due to
- increase from COVID-19 (+0.3 TWh) driven by residential;
lower usage from solar and energy efficiency (-0.1 TWh);
lower usage from solar and energy efficiency (-0.1 TWh);
lower customer numbers relating to large SME tenders (- 0.1 TWh);
lower SME customer numbers (-0.1 TWh);
no material weather impact: cooler weather in Sep-20 quarter offset by milder summer (La Niña) in Dec-20
net increase due to COVID-19 (+0.1 TWh) with higher residential demand and lower SME demand
- La Niña conditions are forecast to persist during Q3 FY2021
Business volumes down 3% on Dec-19 quarter due to COVID-19 impacts (-0.2 TWh), partly offset by new contracts (+0.1 TWh)
Business volumes down 5% on FYTD-20 due to COVID-19 impacts, partly offset by new contract wins

11 29 January 2021 December 2020 Quarterly Report

Energy Markets – Natural gas sales

Dec-20 Quarter vs Dec-19 Quarter (PJ)

FYTD21 vs FYTD20 (PJ)

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70
57.2 (0.5) 5.4 (4.1) 58.0 160 0.3 3.2 (7.8)
60 134.3 130.0
140
10.1
50 14.3 120 29.7
21.9
40 40.2 100
34.8
80
30
60 79.7 82.8
20
40
10
20
8.2 7.7 24.9 25.2
-
Dec-19 QTR Retail Business Internal Dec-20 QTR -
FYTD-20 Retail Business Internal FYTD-21
Generation
Generation
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Retail volumes down 6% on Dec-19 quarter with lower SME demand due to COVID-19 (-0.3 PJ) and milder weather in Victoria (-0.3 PJ), offset by higher customer numbers (0.1 PJ)
Retail volumes up 1% due to higher customer numbers (0.4 PJ) with a cooler winter being offset by milder weather in Dec-20 quarter (-0.1 PJ)
Business volumes up 16% on Dec-19 as impacts of COVID-19 were more than offset by short term wholesale contracts
Business volumes up 4% as COVID-19 impacts were more than offset by short term wholesale contracts
Gas to generation down 29% on Dec-19 quarter due to lower pool prices, lower demand as well as elevated gas generation in the Dec-19 quarter to cover an outage at Eraring
Gas to generation down 26% due to lower pool prices, lower demand as well as elevated gas generation in the Dec-19 quarter to cover an outage at Eraring

December 2020 Quarterly Report

12 29 January 2021

Energy Markets capital expenditure

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Quarterly Energy Markets capex and FYTD Energy Markets capex and
investments investments
140 57 127 250 219 184
120 8
200
100 48
48
150
80
60 1 100 211
40 80 135
56 50
20
0 0
Sep-20 QTR Dec-20 QTR FYTD-20 FYTD-21
Capex Investments Capex Investments
$m $m
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Capex spend in Dec-20 quarter included generation maintenance, spend in preparation for the move to 5 minute settlement of pool prices, and $20 million to Octopus Energy relating to licensing the Kraken platform
As expected, capex is lower than the prior year primarily due to less generation spend, with the prior period including capex relating to a major outage at Eraring and Mortlake unit repairs
Dec-20 investments include payments relating to the 20% equity interest in Octopus Energy ($36 million) and deferred consideration for OC Energy ($11 million)

December 2020 Quarterly Report

13 29 January 2021

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Data tables

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December 2020 Quarterly Report

29 January 2021

Integrated Gas – APLNG 100%

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APLNG	Unit	Dec-20 QTR	Sep-20 QTR	% Change	Dec-19 QTR	% Change	FYTD-21	FYTD-20	% Change
Total production	PJ	182.3	171.3	6%	180.2	1%	353.6	357.5	(1%)
Total sales	PJ	171.9	153.0	12%	174.4	(1%)	324.8	342.9	(5%)
LNG
Production	kt	2,341.4	2,002.2	17%	2,420.8	(3%)	4,343.6	4,630.7	(6%)
Sales	kt	2,394.7	2,008.3	19%	2,431.4	(2%)	4,403.0	4,596.2	(4%)
Commodity Revenue	$m	889.0	859.5	3%	1,751.9	(49%)	1,748.5	3,356.2	(48%)
Average realised price	US$/mmbtu	5.20	5.81	(10%)	9.38	(45%)	5.47	9.52	(43%)
Domestic Gas
Sales	PJ	39.2	41.7	(6%)	39.7	(1%)	80.9	88.3	(8%)
Commodity Revenue	$m	172.3	137.5	25%	158.8	9%	309.8	389.9	(21%)
Average realised price	$/GJ	4.40	3.30	33%	4.00	10%	3.83	4.42	(13%)
APLNG capex1
E&A	$m	8	12	(33%)	29	(72%)	20	47	(57%)
Sustain and Other	$m	87	156	(44%)	173	(50%)	243	399	(39%)

1) APLNG capex is reported on an accrual basis.

29 January 2021 December 2020 Quarterly Report

APLNG sources of gas – APLNG 100%

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Production volumes	Units	Dec-20 QTR	Sep-20 QTR	% Change	Dec-19 QTR	FYTD-21	FYTD-20
Operated
Spring Gully	PJ	25.6	25.0	2%	26.3	50.6	52.4
Peat	PJ	0.8	0.9	(11%)	0.7	1.6	1.5
Talinga	PJ	19.4	17.4	11%	19.4	36.9	38.8
Orana	PJ	17.2	13.5	27%	17.9	30.7	35.0
Condabri	PJ	31.7	30.5	4%	33	62.2	66.1
Combabula/ReedyCreek	PJ	45.4	43.7	4%	40.9	89.1	81.1
Total operatedproduction	PJ	140.1	131.1	7%	138.3	271.2	275.0
Non-operated
Fairview (GLNG)	PJ	8.0	8.2	(2%)	8.9	16.2	17.7
Arcadia (GLNG)	PJ	1.0	0.7	43%	0.3	1.7	0.4
Angry Jungle (GLNG)	PJ	1.0	0.9	11%	0	1.8	0.1
Anya (QGC)	PJ	0.4	0.3	33%	0.4	0.7	0.9
Kenya East (QGC)	PJ	14.1	14.0	1%	15.4	28.0	30.1
Kenya (QGC)	PJ	16.7	15.1	11%	16.1	31.8	31.5
Bellevue (QGC)	PJ	1.1	1.0	10%	0.9	2.1	1.8
Total non-operatedproduction	PJ	42.2	40.3	5%	42.0	82.4	82.6
Total upstreamproduction	PJ	182.3	171.3	6%	180.2	353.6	357.5
Natural gas purchases	PJ	1.0	0.7	43%	4.4	1.7	10.9
Changes in Upstreamgas inventory/other	PJ	(3.7)	(10.5)	(65%)	0.2	(14.2)	(2.6)
Total sources of naturalgas	PJ	179.5	161.5	11%	184.8	341.0	365.7

December 2020 Quarterly Report

29 January 2021

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	278 TJ/d	Dec-20 QTR FYTD-21	- - - 5
	Peat	9 TJ/d	Dec-20 QTR FYTD-21	- - - -
Surat	Talinga	211 TJ/d	Dec-20 QTR FYTD-21	8 1 9 3
	Orana	187 TJ/d	Dec-20 QTR FYTD-21	1 20 4 46
	Condabri	345 TJ/d	Dec-20 QTR FYTD-21	12 6 30 10
	Combabula / Reedy Creek	493 TJ/d	Dec-20 QTR FYTD-21	- 9 - 39
	TOTAL	1,523 TJ/d	Dec-20 QTR FYTD-21	21 36 43 103

December 2020 Quarterly Report

29 January 2021

APLNG uses of gas – APLNG 100%

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Uses of gas	Units	Dec-20 QTR	Sep-20 QTR	% Change	Dec-19 QTR	FYTD-21	FYTD-20
LNG feed gas	PJ	140.3	119.7	17%	145.1	260.0	277.4
Domestic sales	PJ	39.2	41.7	(6%)	39.7	80.9	88.3
Total uses of naturalgas	PJ	179.5	161.5	11%	184.8	341.0	365.7

LNG	Units	Dec-20 QTR	Sep-20 QTR	% Change	Dec-19 QTR	FYTD-21	FYTD-20
LNG Production	kt	2,341.4	2,002.2	17%	2,420.8	4,343.6	4,630.7
Changes in LNG inventory	kt	53.4	6.1	775%	10.6	59.5	(34.5)
Total LNG sales volume	kt	2,394.7	2,008.3	19%	2,431.4	4,403.0	4,596.2
LNG cargos sold	#	35	29	21%	35	64	66

APLNG commodity revenue	Units	Dec-20 QTR	Sep-20 QTR	% Change	Dec-19 QTR	FYTD-21	FYTD-20
LNG	$m	889.0	859.5	3%	1,751.9	1,748.5	3,356.2
Domestic Gas	$m	172.3	137.5	25%	158.8	309.8	389.9
Total Commodity Revenue	$m	1,061.3	997.0	6%	1,910.7	2,058.3	3,746.1

Sales – APLNG average realised prices	Units	Dec-20 QTR	Sep-20 QTR	% Change	Dec-19 QTR	FYTD-21	FYTD-20
LNG	$/GJ	6.70	7.73	(13%)	13.01	7.17	13.18
Domestic Gas	$/GJ	4.40	3.30	33%	4.00	3.83	4.42
Average Commodity price	$/GJ	6.17	6.52	(5%)	10.95	6.34	10.92

December 2020 Quarterly Report

29 January 2021

Integrated Gas – Origin share

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APLNG (ORG share)	Unit	Dec-20 QTR	Sep-20 QTR	% Change	Dec-19 QTR	% Change	FYTD-21	FYTD-20	% Change
Total production (ORG share)	PJ	68.3	64.2	6%	67.6	1%	132.6	134.1	(1%)
Total sales (ORG share)	PJ	64.5	57.4	12%	65.4	(1%)	121.8	128.6	(5%)
LNG (ORG share)
Production	kt	878.0	750.8	17%	907.8	(3%)	1,628.8	1,736.5	(6%)
Sales	kt	898.0	753.1	19%	911.8	(2%)	1,651.1	1,723.6	(4%)
Commodity Revenue	$m	333.4	322.3	3%	657.0	(49%)	655.7	1,258.6	(48%)
Average realised price	US$/mmbtu	5.20	5.81	(10%)	9.38	(45%)	5.47	9.52	(43%)
Domestic Gas (ORG share)
Sales	PJ	14.7	15.6	(6%)	14.9	(1%)	30.3	33.1	(8%)
Commodity Revenue	$m	64.6	51.6	25%	59.5	9%	116.2	146.2	(21%)
Average realised price	$/GJ	4.40	3.30	33%	4.00	10%	3.83	4.42	(13%)

Integrated Gas Other	Unit	Dec-20 QTR	Sep-20 QTR	% Change	Dec-19 QTR	% Change	FYTD-21	FYTD-20	% Change
Origin only capex
Capex	$m	4	3	33%	2	100%	7	7	0%
E&A	$m	11	11	0%	25	(56%)	22	35	(37%)
Origin oil hedging and LNG trading
Hedge premium expense	$m	(3.1)	0.0	N/A	(13.7)	(77%)	(3.1)	(19.8)	(84%)
Gain / (Loss) on oil hedging	$m	55.8	43.2	29%	2.0	2690%	99.0	0.8	12275%
Gain /(Loss)on LNG trading	$m	(7.0)	(9.9)	(29%)	(52.2)	(87%)	(16.9)	(66.8)	(75%)
Total oil hedging and LNG trading gain/(loss)	$m	45.7	33.3	37%	(63.9)	(172%)	79.0	(85.8)	(192%)

Hedging/trading gain increased quarter-on-quarter driven by lower oil price, partially offset by a current quarter loss on LNG trading positions and oil hedge premium.

December 2020 Quarterly Report

29 January 2021

Energy Markets

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	Unit	Dec-20	Sep-20	% Change	Dec-19	% Change	FYTD-21	FYTD-20	% Change
Sales volumes
Electricity – Retail	TWh	3.6	4.6	(23%)	3.7	(5%)	8.2	8.1	1%
Electricity – Business	TWh	4.4	4.1	7%	4.5	(3%)	8.5	8.9	(5%)
Natural gas – Retail	PJ	7.7	17.5	(56%)	8.2	(6%)	25.2	24.9	1%
Natural gas – Business	PJ	40.2	42.7	(6%)	34.8	16%	82.8	79.7	4%
Natural gas – Internal generation	PJ	10.1	11.8	(14%)	14.3	(29%)	21.9	29.7	(26%)
Capex	$m	80	56	43%	132	(40%)	135	211	(36%)
Investments	$m	48	1	5271%	5	823%	48	8	493%

Electricity sales volume (TWh)

Dec-20 QTR Dec-19 QTR FYTD-21 FYTD-20	Dec-20 QTR Dec-19 QTR FYTD-21 FYTD-20	Dec-20 QTR Dec-19 QTR FYTD-21 FYTD-20	Dec-20 QTR Dec-19 QTR FYTD-21 FYTD-20	Dec-20 QTR Dec-19 QTR FYTD-21 FYTD-20
Volumes sold (TWh) Retail Business Retail Business Retail Business Retail Business
New South Wales Queensland Victoria South Australia	1.60 2.13 1.05 1.01 0.62 0.82 0.29 0.43	1.76 2.22 1.02 0.96 0.64 0.87 0.31 0.47	3.99 4.18 2.11 1.84 1.42 1.60 0.64 0.86	3.99 4.43 1.97 1.77 1.48 1.77 0.66 0.91
Total volumes sold	3.55 4.38	3.73 4.52	8.16 8.47	8.10 8.88

Natural Gas sales volume (PJ)

	Dec-20 QTR Dec-19 QTR FYTD-21 FYTD-20	Dec-20 QTR Dec-19 QTR FYTD-21 FYTD-20	Dec-20 QTR Dec-19 QTR FYTD-21 FYTD-20	Dec-20 QTR Dec-19 QTR FYTD-21 FYTD-20
Volumes sold (PJ)	Retail Business Retail Business Retail Business Retail Business
New South Wales Queensland Victoria South Australia	2.11 6.20 0.70 20.71 3.83 11.13 1.04 2.13	2.03 4.21 0.71 15.83 4.38 12.05 1.10 2.66	6.34 13.87 1.76 35.25 13.89 28.95 3.24 4.78	6.04 9.26 1.67 33.15 14.04 31.44 3.18 5.84
External volumes sold	7.69 40.17	8.22 34.76	25.24 82.85	24.93 79.69
Internal sales (generation)	10.14	14.26	21.92	29.67
Total volumes sold	58.00	57.24	130.00	134.29

20 29 January 2021 December 2020 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 Pty Limited–an incorporated joint venture between Origin, ConocoPhillips and Sinopec
Barrels(bbl)	an international measure of oilproduction. 1 barrel = 159 litres
CSG	coal seamgas
E&A	Exploration & Appraisal
EPT	Extended Production Test
ERIC	Eurombah ReedyCreek Interconnect
FID	final investment decision
GJ	gigajoule = 109 joules
GLNG	Gladstone Liquified Natural Gas
JCC	Japan Customs-cleared Crude
joule	primarymeasure of energyin the metric system
kbbls	Kilo barrels = 1,000 barrels
kT	Kilo tonnes = 1,000 tonnes
LNG	liquefied naturalgas
mmbbl	million barrels
mmboe	million barrels of oil equivalent
mmbtu	million British thermal units
mmscf	million standard cubic feet
mtpa	million tonnesper annum
MWh	Megawatt hour = 103 kilowatt hours
pa	per annum
PJ	petajoule = 1015 joules
PJe	petajoule equivalent,a measure used to express the volume of differentpetroleumproducts on the basis of the energycontained in theproduct
Spudding	to commence drillinga well
t	tonnes
TJ	terajoule = 1012 joules
TJ/d	terajoulesper day
TWh	Terrawatt hour = 109 kilowatt hours
YTD	year to date

December 2020 Quarterly Report

29 January 2021

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ORIGIN ENERGY LIMITED Interim / Quarterly Report 2021

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Regards

ASX/Media Release

Quarterly Report December 2020

Integrated Gas: record production and increased revenue for the quarter

Energy Markets: electricity volumes lower, gas volumes higher for the quarter

Quarterly results overview

For further information:

Media

Investors

Origin Energy Quarterly Report December 2020

Integrated Gas

Oil and LNG markets

APLNG achieves record production in the December-20 quarter

APLNG revenue up in the quarter but lower than prior year

APLNG capital expenditure (Origin share)

Integrated Gas – Origin capex

Electricity and natural gas markets

COVID-19 impacts on state electricity demand

Energy Markets – Electricity sales

FYTD-21 vs FYTD-20 (TWh)

Energy Markets – Natural gas sales

Dec-20 Quarter vs Dec-19 Quarter (PJ)

FYTD21 vs FYTD20 (PJ)

Energy Markets capital expenditure

Integrated Gas – APLNG 100%

APLNG sources of gas – APLNG 100%

Operated drilling & production

APLNG Operated Production Wells

APLNG uses of gas – APLNG 100%

Integrated Gas – Origin share

Energy Markets

Electricity sales volume (TWh)

Natural Gas sales volume (PJ)

Conversion factors and abbreviations

AI assistant

ORIGIN ENERGY LIMITED — Interim / Quarterly Report 2021

65507_rns_2021-01-28_2f4fd2b6-af1d-4a07-a52c-b4db1c906f2c.pdf

Regards

ASX/Media Release

Quarterly Report December 2020

Integrated Gas: record production and increased revenue for the quarter

Energy Markets: electricity volumes lower, gas volumes higher for the quarter

Quarterly results overview

For further information:

Media

Investors

Origin Energy Quarterly Report December 2020

Integrated Gas

Oil and LNG markets

APLNG achieves record production in the December-20 quarter

APLNG revenue up in the quarter but lower than prior year

APLNG capital expenditure (Origin share)

Integrated Gas – Origin capex

Electricity and natural gas markets

COVID-19 impacts on state electricity demand

Energy Markets – Electricity sales

FYTD-21 vs FYTD-20 (TWh)

Energy Markets – Natural gas sales

Dec-20 Quarter vs Dec-19 Quarter (PJ)

FYTD21 vs FYTD20 (PJ)

Energy Markets capital expenditure

Integrated Gas – APLNG 100%

APLNG sources of gas – APLNG 100%

Operated drilling & production

APLNG Operated Production Wells

APLNG uses of gas – APLNG 100%

Integrated Gas – Origin share

Energy Markets

Electricity sales volume (TWh)

Natural Gas sales volume (PJ)

Conversion factors and abbreviations

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