Origin Energy Not for Distribution or release in the United States of ...

Through the NSW Government’s Energy Reform Process, Origin has agreed toacquire the Integral Energy and Country Energy retail businesses, and theEraring GenTrader arrangements for $3,250 million 1The transaction secures Origin’s position as the leading Australianintegrated energy company - becoming Australia’s largest energy retailerwith 4.6 million customers and owning one of Australia’s largest and mostdiverse generation portfolios in excess of 5,800 MW Increased scale and incumbency results in a competitive cost to serve Greater diversity lowers cost of risk management GenTrader arrangements provide long term competitive cost of energy Creates further opportunities for growth across OriginThe transaction is expected to be materially accretive to underlyingearnings per share 2 at completion5(1) Acquisition price includes $136 million for stamp duty in NSW and excludes $15 million of stamp duty outside of NSW. Itexcludes GST and a conditional amount of up to $198 million which will be payable if certain payments under theGenTrader arrangements are ruled to be tax deductible. An ATO tax ruling will be sought.(2) Based on underlying EPS, excluding non-recurring integration costs and changes in fair value of financial instruments.