ORIGIN ENERGY LIMITED — M&A Activity 2013

Jul 31, 2013

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To Company Announcements Office Company ASX Limited From Helen Hardy	Facsimile 1300 135 638
	Date 1 August 2013
	Pages 3

Subject ORIGIN COMPLETES ACQUISITION OF ERARING ENERGY

Please find attached a release on the above subject.

Regards

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Helen Hardy Company Secretary

02 8345 5023 – 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

1 August 2013

Origin completes acquisition of Eraring Energy

Origin Energy Limited (Origin) today announced it had completed the acquisition of Eraring Energy.

On 1 July 2013, Origin announced it had executed a Sale and Purchase Agreement with the NSW Government to acquire Eraring Energy for a net payment of $50 million[1] and agreed the terms for cancellation of the Cobbora Coal Supply Agreement including a payment to Origin of $300 million. In addition, Origin announced it had entered into a coal supply agreement with Centennial Coal for the provision of 24.5 million[2] tonnes of coal over an eight-year period from FY 2015 for use at Eraring Power Station.

As a result of the successful completion of the Eraring Energy acquisition, the cancellation of rights under the Cobbora arrangements has been completed and the agreement with Centennial Coal is now confirmed, with supply due to commence from FY 2015.

Origin Chief Executive Officer, Energy Markets, Mr Frank Calabria said, “The acquisition of Eraring Energy enables Origin to continue to provide a secure, reliable and affordable supply of energy to millions of Australians while delivering ongoing benefits to our business.

“Origin and Eraring Energy have worked closely together during the past month to achieve a seamless transition to the new ownership arrangements and I am pleased with the high level of co-operation between our two companies.

“I would like to extend a warm welcome to Eraring Energy’s employees and contractors who join our company today and look forward to their contribution to Origin’s future success,” Mr Calabria said.

For further information please contact:

Media	Investors
Lina Melero	Peter Rice
General Manager, External Affairs	General Manager, Capital Markets
Ph: +61 2 8345 5217	Ph: +61 2 8345 5308
Mobile: +61 427 017 798	Mobile: +61 417 230 306

1 Reflects a total purchase price of $659 million net of the expected balance of prepaid capacity charges and funds on deposit with the NSW Government of $609 million at completion, which is expected in Q1 FY14. The deposit balance and pre-paid capacity charge amount reflects the remaining balance of funds for future capacity charges paid by Origin to the State when it entered the GenTrader Arrangements in March 2011.

2 Six million tonnes is conditional on the development of Centennial Coal’s Newstan mine extension project.

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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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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 5,800 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 5,900 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, the country's 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 also operates several oil and gas projects in New Zealand and is one of the largest holders of petroleum exploration acreage in the country.

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

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