Annual General Meeting 30 October 2009 Important Notice This - PDF document

Annual General Meeting 30 October 2009

Important Notice This presentation does not constitute investment advice, or an inducement or recommendation to acquire or dispose of any securities in Origin, in any j urisdiction (including the US A). This presentation is for information purposes only, is in a summary form, and does not purport to be complete. This presentation does not take into account the investment obj ectives, financial situation or particular needs of any investor, potential investor or any other person. No investment decision should be made in reliance on this presentation. Independent financial and taxation advice should be sought before making any investment decision. Certain statements in this presentation are in the nature of forward looking statements, including statements of current intention, p g , g , statements of opinion and predictions as to possible future events. S uch statements are not statements of fact and there can be no certainty of outcome in relation to the matters to which the statements relate. These forward looking statements involve known and unknown risks, uncertainties, assumptions and other important factors that could cause the actual outcomes to be materially different from the events or results expressed or implied by such statements. Those risks, uncertainties, assumptions and other important factors are not all within the control of Origin and cannot be predicted by Origin and include changes in circumstances or events that may cause obj ectives to change as well as risks, circumstances and events specific to the industry, countries and markets in which Origin and its related bodies corporate, j oint ventures and associated undertakings operate. They also include general economic conditions, exchange rates, interest rates, the regulatory environment, competitive pressures, selling price, market demand and conditions in the financial markets which may cause obj ectives to change or may cause outcomes not to be realised. None of Origin or any of its respective subsidiaries, affiliates and associated companies (or any of their respective officers, employees or agents) (the "Relevant Persons") makes any representation, assurance or guarantee as to the accuracy or likelihood of fulfilment of any forward looking statement or any outcomes expressed or implied in any forward looking statements. In addition, statements about past performance are not necessarily indicative of future performance. The forward looking statements in this presentation reflect views held only at the date of this presentation. S ubj ect to any continuing obligations under law or the AS X Listing Rules, Origin and the Relevant Persons disclaim any obligation or undertaking to disseminate after the date of this presentat ion any updates or revisions to any forward looking statements to reflect any change in expectat ions in relat ion to any i d i i f d l ki fl h i i i l i forward looking statements or any change in events, conditions or circumstances on which such statements are based. No representation or warranty, express or implied, is or will be made in relation to the accuracy or completeness of the information in this presentation and no responsibility or liability is or will be accepted by Origin or any of the Relevant Persons in relation to it. In particular, Origin does not endorse, and is not responsible for, the accuracy or reliability of any information in this presentation relating to a third party. All references to "$" are references to Australian dollars unless otherwise specified. A reference to Contact is a reference to Contact Energy of New Zealand, a 51% subsidiary of Origin. A reference to APLNG is a reference to Australia Pacific LNG Pty Limited, an incorporated j oint venture that Origin holds a 50% h ld 50% i t int erest in. t i All comparative data is in relation to the prior corresponding period, 1 July 2007 to 30 June 2008, unless otherwise stated. Certain comparative amounts have been reclassified to conform with the current year’ s presentation. 2

The Board 3

Independent Non-Executive Director J Roland Williams CBE The Board p 4

Non-Executive Director Bruce G Beeren The Board 5

Independent Non-Executive Director Trevor Bourne The Board p 6

Managing Director Grant A King The Board g g 7

ecretary & Group General p ecretary y Andrew C Clarke Company S Company S y Counsel p 8

Independent Non-Executive Director Helen M Nugent AO The Board p 9

Independent Non-Executive Director Gordon M Cairns The Board p 10

trategy gy Executive Director Finance and S Karen A Moses The Board 11

Independent Non-Executive Director John H Akehurst The Board p 12

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Chairman’ s Address

hare price performance S 15

Record underlying profit of $530 million 16

Earnings per share – up 19 per cent 17

S trong balance sheet provides opportunity for future investments As at 30 September 2009 Undrawn Available Funding Committed Debt Committed Debt Capacity at 30 Capacity at 30 A$b Cash Facilities September 2009 5 4 (1.0) 3 4.4 2 3.4 1 0 18

Origin invested over $2 billion in gas production and electricity generation proj ects generation proj ects Kupe Darling Downs Power S tation Mortlake turbine Cullerin Range Wind Farm 19

Chairman’ s Address 20

Renewable Energy Target provides increased certainty for investors in renewable energy technologies in renewable energy technologies S olar Cullerin Range Wind Farm Geodynamics G Geodynamics d i 21

Chairman’ s Address 22

Dealing with an uncertain future requires good governance 23

Chairman’ s Address 24

Investing in communities - our future customers, investors, employees and neighbours p y g Helping to educate 500,000 kids about using energy wisely 25

Investing in communities - our future customers, investors, employees and neighbours p y g Building solid partnerships with landowners and communities 26

Chairman’ s Address 27

Managing Director’ s Address 28

Contribution to underlying earnings • Origin’s EBITDAF for financial year 2009 O ’ f f l 2009 was $1.2 billion • EBITDAF from Origin’s integrated business excluding Contact increased by $20 million t $850 to $850 million illi • Contact’s contribution reduced 25% to $369 million * FY 2009 EBITDAF by Segment 29

APLNG continues to grow its CS G reserves with significant reserves increases that demonstrate the size and quality of APLNG’ s CS that demonstrate the size and quality of APLNG s CS G resource G resource 3C 2C 3P 2P S S ource: Origin O igi 30

In New Zealand - the Kupe Gas Proj ect is nearing completion Kupe Gas Proj ect onshore product ion facilit ies • Proj ect construction essentially complete • Proj ect handed over from construction team to operations team • • Expecting to open the wells and bring raw gas ashore in Expecting to open the wells and bring raw gas ashore in December Quarter 2009 • Gross annual production expected to be approximately 20 PJ of gas sales together with over 2 million barrels of condensate with over 2 million barrels of condensate and LPG 31

Generation: power station capacity has more than doubled in 2009 Cullerin Range Wind Farm, NS g , W Uranquint y Power S t at ion, NS W Quarant ine Power S t at ion, S A 32

Mt S tuart Power S tation expansion due for completion late calendar 2009 Mt S t uart Power S t at ion • Peaking power station being expanded from 288MW to 414MW 288MW to 414MW • Townsville, Queensland • Currently kerosene-fired and capable of being converted to natural gas g g 33

Darling Downs Power S tation - once commissioned - will be the largest CCGT plant in Australia largest CCGT plant in Australia • 630 MW Base Load plant • Largest CCGT plant in Australia • All gas turbines installed at site • Firing of first gas turbine expected in November 2009 • Firing of first gas turbine expected in November 2009 • All three gas turbines synchronised to grid during December 2009 • Expected to be fully commissioned in the l tt latter half of FY10 h lf f FY10 34

Mortlake Power S tation will add significant generation capacity in Victoria • 550 MW peaking plant 550 MW ki l • S ite currently being prepared and pipeline under construction • Turbines delivered (as above) ( ) • Expected to be completed in late 2010 • Designed for conversion to CCGT at a later stage if required 35

Energy retailing is the largest segment in our business today 36

Retail Transformation • • Partnered with WIPRO to transition to an Partnered with WIPRO to transition to an integrated S AP billing and customer management platform • Proj ect expected to improve customer service and use of technology to engage with service and use of technology to engage with customers • Process improvement and business simplification activities have commenced • Delivery of complete proj ect will be completed over the next three years • Total of 158 Origin employees have transferred to WIPRO, with almost 100 more transferred to WIPRO, with almost 100 more to transfer by December 2009 37