Slide 1: Origin Energy FY26 Results
Origin Energy FY26 Results Year ended 30 June 2026 Frank Calabria, CEO & Tony Lucas, CFO 13 August 2026
Slide 2: Our FY26 Results
Our FY26 Results Summary of Financial Result − Energy Markets: $1,701 million EBITDA, towards upper end of guidance − Integrated Gas: $1,620 million EBITDA, in line with expectations for APLNG and LNG trading − Octopus/Kraken: -$8 million EBITDA, with UK Retail contributing $134 million, funding inv
Slide 3: Financial highlights
Financial highlights STATUTORY UNDERLYING UNDERLYING PROFIT PROFIT EBITDA $1,574M Compared to $1,481 million in FY25 $1,159M Compared to $1,490 million in FY25 $3,220M Compared to $3,411 million in FY25 ADJUSTED FREE CASH FLOW ADJUSTED NET DEBT/ADJUSTED FINAL DIVIDEND UNDERLYING EBITDA1 $2,074M 1.6x
Slide 4: Data security incident
Data security incident • In July 2026, Origin advised there had been unauthorised access to customer information • Supporting affected customers has been our key priority: − Completed initial notifications to customers whose information has been accessed and providing support − Extended customer sup
Slide 5: Purpose: Getting energy right for our customers, communities and planet
Purpose: Getting energy right for our customers, communities and planet Customers Communities Planet • Focused on supporting customers • $475m in regional procurement • Scope 1-3 equity emissions down 2% impacted by the data security incident (Scope 1 emissions down by 7%) • $21m spend with First Na
Slide 6: Leading through differentiated assets & capabilities
Leading through differentiated assets & capabilities Our ambition remains to lead the energy transition through cleaner energy & customer solutions Customer Energy Supply Energy resource Octopus Kraken Scale, customer reach Largest thermal peaking High quality LNG asset Proven disruptor in UK Enterp
Slide 7: Investment proposition: Diversified strong cash flows and value upside
Investment proposition: Diversified strong cash flows and value upside Leading Australian energy businesses with strong cashflows, fully franked dividends and + Significant growth potential through two independent and globally significant businesses investing in the energy transition • Energy Market
Slide 8: Key commodity markets have shifted significantly so far in 2026
Key commodity markets have shifted significantly so far in 2026 NSW electricity forward prices Japan customs-cleared crude East coast gas prices ($/GJ) ($/MWh) (US$/bbl) 25 120 150 FY26 FY27 FY28 110 130 20 100 110 15 90 80 90 10 70 70 5 60 Jun-24 Dec-24 Jun-25 Dec-25 Jun-26 Dec-26 Jul-24 Jan-25 Jul
Slide 9: Octopus & Kraken are now separate and well set up for future growth
Octopus & Kraken are now separate and well set up for future growth Legal separation completed Both businesses well positioned to pursue ambitious growth 22.7% stake ~19m Energy Services 3.2GW Customer accounts (5th Platform to electrify and Customer flexible load on largest European energy optimise
Slide 10: Financial Review
Financial Review Tony Lucas Q origin
Slide 11: Underlying EBITDA of $3,220 million
Underlying EBITDA of $3,220 million FY25 FY26 INTEGRATED GAS $3,411m $3,220m OTHER IG: Other • Includes LNG trading gains of $140m, in line with guidance 327 IG: Other 142 INTEGRATED GAS IG: IG: SHARE OF APLNG • Share of APLNG EBITDA reflects lower realised prices and volumes as expected, APLNG part
Slide 12: Adjusted Free Cash Flow up $867 million
Adjusted Free Cash Flow up $867 million Free cash flow ($m) CASH HIGHLIGHTS FY26 FY25 Change Underlying EBITDA (adj for non-cash items) 1,963 1,840 123 >100% Tax paid Change in working capital/Other 112 (648) 760 Energy Markets EBITDA cash Lower due to a large FY24 tax conversion (strong collections
Slide 13: Strong balance sheet funding growth and shareholder returns
Strong balance sheet funding growth and shareholder returns Adjusted Net Debt ($m) Adjusted Net Debt / Adjusted Underlying EBITDA1 4,852 4x 4,654 756 86 (1,917) 3x 990 Target range of 2 – 3x 223 2x (911) 971 1x 1) Excludes Origin’s share of EBITDA from APLNG and Octopus Energy and includes cash dist
Slide 14: Capital allocation - Dividend stable
Capital allocation - Dividend stable Dividends (cps) • Shareholder distribution policy seeks to deliver sustainable distributions through the business cycle • Balance sheet well positioned to be resilient to commodity cycles 30 30 27.5 • Final FY26 dividend determined of 30cps, fully franked − Refle
Slide 15: Business Performance
Business Performance Frank Calabria
Slide 16: Energy Markets: Delivering on short and medium-term targets
Energy Markets Energy Markets: Delivering on short and medium-term targets Electricity gross profit Gas gross profit Cost to Serve target delivered $/MWh A$/GJ $m (LHS), $/cust account (RHS) 50 6 800 250 5 40 200 600 Medium-term target 4 Medium-term 30 range 150 target range 3 400 20 100 2 200 10 50
Slide 17: Customer: Relentless focus driving share, retention and innovation
Energy Markets Customer: Relentless focus driving share, retention and innovation Customer Account Growth Customer Retention Products and Solutions Customer accounts (‘000) Monthly churn rate (%) +3% CAGR 30% 4,937 4,695 4,591 4,436 4,483 4,264 25% 20% 25k 4k 3.5k <1k reviews reviews reviews reviews
Slide 18: Energy Supply: Batteries taking the pressure off gas for managing daily peaks
Energy Markets Energy Supply: Batteries taking the pressure off gas for managing daily peaks Significant ramp up of grid scale and home batteries Batteries complement our gas peaking fleet NEM storage (GWh) Origin - NSW Origin - QLD 35 (Daily avg MW) (Daily avg MW) 600 30 500 25 400 20 300 15 200 10
Slide 19: Energy Supply: Our flexible portfolio is well positioned for firming renewables
Energy Markets Energy Supply: Our flexible portfolio is well positioned for firming renewables Batteries to solve most days; Gas peakers and hydro to firm the seasons Indicative NSW future monthly renewable over/under supply • Renewables remain the lowest cost form of new energy generation, however
Slide 20: APLNG summary: Continued strong cash distributions
Integrated Gas APLNG summary: Continued strong cash distributions Revenue Costs APLNG dividends to Origin $m Capex + Opex ($m)1 $m (LHS) and A$/bbl (RHS) 12,000 3,500 1,600 140 3,000 1,400 120 10,000 1,200 2,500 100 8,000 1,000 2,000 80 6,000 800 1,500 60 600 4,000 1,000 40 400 2,000 500 20 200 - -
Slide 21: APLNG's world-class CSG resource supports continued reserves growth
Integrated Gas APLNG's world-class CSG resource supports continued reserves growth APLNG Reserves1 Production and wells drilled PJ APLNG Production & Operated Wells Drilled (# LHS) (% RHS) 16,000 700 97% Non-Operated 14,000 600 Production 96% 12,000 2C Reedy Creek, 95% 500 LNG and Combabula and 10,0
Slide 22: Production levers
Integrated Gas Continued optimisation and drilling ramp up to partially offset natural decline Lowest cost / Short cycle Ongoing well • Continue optimisation activities to improve flow rates through Artificial Lift Systems, optimisation live workovers, formation stabilisation, and well head compress
Slide 23: Octopus' leading brand and service underpin global scale and growth
Octopus Energy Octopus’ leading brand and service underpin global scale and growth 23 Octopus is in a league of its own on brand love Largest and highest rated energy UK Retail YouGov UK Energy Retailer Brand Index, 2026 retailer in the UK 25 15 14.8m customer accounts Octopus Energy +800k in FY26 1
Slide 24: Octopus Energy: UK Retail strength is funding investment in scale and depth
Octopus Energy Octopus Energy: UK Retail strength is funding investment in scale and depth Octopus Energy EBITDA Globally significant customer scale and an …with a strong growth outlook integrated energy platform… UK Retail reported its fourth consecutive year of • Well placed to continue strong pro
Slide 25: Kraken Technologies: Global account and revenue momentum
Kraken Technologies Kraken Technologies: Global account and revenue momentum Strong business momentum… ...driving revenue growth Live & contracted accounts Revenue (millions) (£m) 95 300 248 74 51 163 112 32 52 45 35 23 FY23 FY24 FY25 FY26 FY23 FY24 FY25 FY26 Contracted Live Revenue (100%) Global gr
Slide 26: Kraken Technologies: Investing in migration and product depth
Kraken Technologies Kraken Technologies: Investing in migration and product depth FY26 EBITDA includes investment to accelerate customer migration FY26 achievements EBITDA (GBP £m 100%) 44% increase in contracted 89 annual recurring revenue 75 June 2026 vs June 2025 71 72 62 >99% Gross Retention Rat
Slide 27: Guidance and Q&A
Guidance and Q&A Frank Calabria
Slide 28: FY27 Guidance Summary
FY27 Guidance Summary The following guidance is provided on the basis that market conditions and the regulatory environment do not materially change Origin FY26 FY27 guidance Energy Markets EBITDA A$m 1,701 1,550 – 1,850 Total capex (excluding acquisitions) A$m 969 450 - 650 APLNG (100%) FY26 FY27 g
Slide 29: Summary and Q&A
Summary and Q&A • Advantaged assets and capabilities set up for the energy transition • Strong cash flow and returns from two diversified businesses – Largest domestic retail position – Hard to replicate Energy Markets portfolio, supplemented by batteries – APLNG a world class asset delivering stron
Slide 30: Important notices
Important notices Forward looking statements • This presentation contains forward looking statements, including statements of current intention, statements of opinion and predictions as to possible future events and future financial prospects. Such statements are not statements of fact. They are bas
Slide 31: Important notices
Important notices All figures in this presentation relate to businesses of the Origin Energy Group (Origin, or the Company), being Origin Energy Limited and its controlled entities, for the reporting period ended 30 June 2026 (the period) compared with the reporting period ended 30 June 2025 (the pr
Slide 32: For more information
For more information Liam Barry Head of Corporate Strategy and Investor Relations Email: liam.barry@originenergy.com.au Office: +61 2 9375 5991 Mobile: +61 401 710 367 Amit Ramdev Senior Manager, Investor Relations Email: amit.ramdev@originenergy.com.au Office: +61 2 8345 5221 Mobile: +61 402 436 68
Slide 33: Analyst Supporting Pack
Analyst Supporting Pack FY26 Results Supplementary Information
Slide 34: Executing on our strategy
Ambitions and guidance Executing on our strategy Ambition Achieved as at 30 June 2026 $100 - $150 million cost to serve reduction (FY26 vs FY24) $126m delivered (before retail acquisitions) 100 million licensed Kraken accounts (2027) 95 million contracted Kraken customer accounts Unrivalled >1/3 lar
Slide 35: FY27 Guidance - Energy Markets and Octopus Energy
Ambitions and guidance FY27 Guidance - Energy Markets and Octopus Energy The following guidance is provided on the basis that market conditions and the regulatory environment do not materially change. Energy Markets Share of Octopus Energy • The UK Retail business is expected to continue to scale pr
Slide 36: FY27 Guidance commentary - Integrated Gas
Ambitions and guidance FY27 Guidance commentary - Integrated Gas The following guidance is provided on the basis that field performance, market and regulatory conditions do not materially change. APLNG 100% Integrated Gas - Other FY26 FY26 FY27 • As at 3 August, approximately 40 per cent of Origin’s
Slide 37: FY27 Guidance - Capex
Ambitions and guidance FY27 Guidance - Capex Origin capex ($m) • Total Origin capex for FY27 is expected to be $450 – $650 million, subject to timing of payments to key suppliers around 1,473 year end. – Growth capex is expected to be $250 – $350 million, primarily relating to the final spend on bat
Slide 38: Items excluded from Underlying Profit
Financial information Items excluded from Underlying Profit Items excluded from Underlying Profit relate to: • Fair value and FX movements Reconciliation from Statutory to Underlying Profit ($m) • Impairments relating to generation development projects and amounts owing to Origin in relation to a ga
Slide 39: Underlying Profit
Financial information Underlying Profit Movements in Underlying Profit ($m) (57) 298 (260) (185) 14 (101) (39) 1,490 1,159 FY25 EM Share of Octopus IG - Share of IG - Other Corporate D&A Tax/other FY26 EBITDA Energy profit APLNG profit EBITDA EBITDA 13 Aug 2026 | Origin FY26 investor presentation 39
Slide 40: Energy Markets EBITDA higher
Financial information Energy Markets EBITDA higher Movements in Underlying EBITDA ($m) 44 56 23 24 16 (27) • Electricity gross profit +$179 million reflecting: 65 (180) 278 • lagged impact of higher wholesale costs flowing into customer tariffs, • lower cost of energy primarily driven by lower net p
Slide 41: Integrated Gas EBITDA driven by lower LNG prices & trading gains
Financial information Integrated Gas EBITDA driven by lower LNG prices & trading gains Movements in Underlying EBITDA ($m) (13) (424) 103 (72) 9 (197) 13 Share of APLNG EBITDA down $397 million: • Lower LNG prices, LNG volumes and domestic revenues partially 2,202 offset by lower operating expenses.
Slide 42: Share of Octopus Energy EBITDA up year-on-year
Financial information Share of Octopus Energy EBITDA up year-on-year Movements in Underlying EBITDA ($m) (16) • UK Retail: 21 − Non-repeat of FY25 one-offs: extreme weather in FY25 (+$62m); accounting changes and the price guarantee subsidy (+$51m) (31) 4 (36) 15 − Customer growth and improved margi
Slide 43: Segment summary
Financial information Segment summary Energy Markets Share of Octopus Integrated Gas Integrated Corporate Total Energy ($m) - Share of APLNG Gas - Other FY26 FY25 FY26 FY25 FY26 FY25 FY26 FY25 FY26 FY25 FY26 FY25 Underlying EBITDA 1,701 1,404 (8) (88) 1,478 1,875 142 327 (93) (107) 3,220 3,411 Under
Slide 44: Underlying ROCE – 24-month rolling
Financial information Underlying ROCE – 24-month rolling As at 30 June 2026 30 June 2025 Change Change ($m) ($m) ($m) (%) Capital Employed Net assets 10,134 9,919 216 2% Adjusted net debt 4,852 4,654 197 4% Net derivative (asset)/liability 608 (109) 717 (660%) Origin's share of APLNG net debt (proje
Slide 45: Reconciliation of Adjusted Net Debt
Financial information Reconciliation of Adjusted Net Debt Issue Issue Hedged Hedged AUD $m AUD $m AUD $m $m Currency Notional Currency Notional Jun-26 Jun-26 Jun-26 Interest bearing Debt & CCIRS Adjusted net liabilities2 FV adjustments debt AUD debt AUD 2,075 AUD 2,075 2,055 2,055 USD Debt left in U
Slide 46: Energy Markets segment revenue reconciliation
Financial information Energy Markets segment revenue reconciliation The table below reconciles the difference between segment revenue and customer revenue disclosed in the Electricity, Natural Gas, LPG, Energy Services & Internet and Future Energy tables. FY26 FY25 Change Change ($m) ($m) ($m) (%) E
Slide 47: Customer account movements
Energy Markets support Customer account movements 30 Jun 30 Jun Electricity ('000) Customer accounts ('000) as at Change 2026 2025 100 80 Electricity 2,926 2,792 134 60 Business 21 22 (1) 40 Retail – Mass Market 2,697 2,563 133 20 - Retail – Community Energy Services 208 207 1 (20) NSW 1 QLD VIC 2 S
Slide 48: Electricity forward price by State ($/MWh)
Energy Markets support Electricity forward price by State ($/MWh) 150 NSW 150 VIC 130 130 110 110 90 90 70 70 50 50 May-24 Aug-24 Nov-24 Feb-25 May-25 Aug-25 Nov-25 Feb-26 May-26 Aug-26 May-24 Aug-24 Nov-24 Feb-25 May-25 Aug-25 Nov-25 Feb-26 May-26 Aug-26 150 QLD 150 SA 130 130 110 110 90 90 70 70 5
Slide 49: Cap prices by State ($/MWh)
Energy Markets support Cap prices by State ($/MWh) 40 NSW 40 VIC 35 35 30 30 25 25 20 20 15 15 10 10 5 5 May-24 Aug-24 Nov-24 Feb-25 May-25 Aug-25 Nov-25 Feb-26 May-26 Aug-26 May-24 Aug-24 Nov-24 Feb-25 May-25 Aug-25 Nov-25 Feb-26 May-26 Aug-26 40 QLD 40 SA 35 35 30 30 25 25 20 20 15 15 10 10 5 5 Ma
Slide 50: Origin's 'energy' position
Energy Markets support Origin’s ‘energy’ position Illustrative Origin energy position ‘Energy prices’ are defined here as NEM pool prices TWh <$300/MWh • Impact within a financial year Losses Short / pool pass through − Customer tariffs largely fixed at start of financial year Not hedged to in-year
Slide 51: Origin's 'capacity' position
Energy Markets support Origin’s ‘capacity’ position Illustrative Origin capacity position MW ‘Capacity prices’ are defined here as prices for contracts Maximum that strike at NEM pool prices >$300/MWh demand Capacity • Impact within a financial year Contracts Only hedges in-year pool − Customer tari
Slide 52: Battery developments on track (both on time and cost)
Energy Markets support Battery developments on track (both on time and cost) Estimated FY26 Total Capacity Storage Pre FY26 Project Type State Commercial capex Capex (MW) (MWh) capex Operations ($m) ($m) Eraring stage 1 + stage 3 Build & own 460 1,770 NSW 24-Dec-25 731 113 ~850 expansion Eraring sta
Slide 53: Contracted gas supply
Energy Markets support Contracted gas supply Contracted gas supply Origin’s contracted gas transportation network 200 PJ Beetaloo LNG Exports 150 QLD 100 CSG Moomba SWQP Wallumbilla 50 - FY26 FY27 FY28 FY29 FY30 FY31 FY32 1 1 APLNG legacy contract Fixed Price Price review/market Oil-linked 2 JKM-lin
Slide 54: APLNG sources and uses
Integrated Gas support APLNG sources and uses APLNG (100%) Unit FY26 FY25 Change % Change Sources and Uses of Gas Operated Spring Gully PJ 83.0 84.2 (1.2) (1%) Reedy Creek, Combabula and Peat PJ 190.5 187.6 2.9 2% Condabri, Talinga and Orana PJ 267.0 281.9 (14.9) (5%) Total operated production PJ 54
Slide 55: APLNG sales summary
Integrated Gas support APLNG sales summary APLNG (100%) Unit FY26 FY25 Change % Change LNG LNG production PJ 529.2 533.5 (4.3) (1%) Changes in LNG inventory PJ 0.9 0.4 0.5 121% LNG contract sales PJ 481.8 493.3 (11.5) (2%) LNG spot sales PJ 48.3 40.7 7.6 19% Total LNG sales volume PJ 530.0 533.9 (3.
Slide 56: APLNG sales mix and LNG price review
Integrated Gas support APLNG sales mix and LNG price review Legacy domestic contracts: FY26 FY25 Sales mix (100%) • Domestic legacy contract customers include Origin PJ % PJ % (expiring 2034), Rio Tinto (2031), QAL (2041) and Contract LNG 482 73% 493 74% QGC (2035) Spot LNG 48 7% 41 6% Contract LNG:
Slide 57: APLNG daily production by field (TJ/d)
Integrated Gas support APLNG daily production by field (TJ/d) Condabri, Talinga, Orana Reedy Creek, Combabula, Peat 900 600 800 500 700 400 600 300 500 400 200 Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun FY25 FY26 FY25 FY26 Spring Gully Non Operate