ASX/Media Release

12 July 2012

Australia Pacific LNG completes additional Subscription Agreement with Sinopec

Origin Energy Limited (Origin) advises that the Subscription Agreement facilitating the acquisition by Sinopec Group (Sinopec) of an additional 10 per cent shareholding in Australia Pacific LNG Pty Ltd (Australia Pacific LNG) has completed.

Sinopec's shareholding in Australia Pacific LNG has now increased from 15 per cent to 25 per cent. As a consequence, ConocoPhillips and Origin Energy's shareholding in Australia Pacific LNG has been diluted from 42.5 per cent to 37.5 per cent each.

Sinopec's additional equity subscription provides Australia Pacific LNG with a net payment of US$1.4 billion for value determined as at 1 January 2011. That amount was adjusted for Sinopec's share of capital expended since that date, resulting in Sinopec injecting a total of approximately US$2.1 billion into Australia Pacific LNG. These funds will be used to meet project expenditure before any additional funding is required from Origin, ConocoPhillips and Sinopec.

In addition, all conditions precedent have been met for the supply of an additional 3.3 million tonnes per annum (mtpa) of LNG to Sinopec, bringing the total LNG sales to Sinopec to 7.6 mtpa, commencing in 2015.

For further information please contact:

Media
Lina Melero
General Manager, Corporate Communication
Ph: +61 2 8345 5217
Mobile: +61 427 017 798

Investors
Kylie Springall
Group Manager, Investor Relations
Ph: +61 2 8345 5288
Mobile: +61 400 477 393

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 around 5,600 employees and is a leading producer of gas in eastern Australia. Origin is Australia's largest energy retailer servicing 4.4 million electricity, natural gas and LPG customer accounts and has one of the country's largest and most flexible generation portfolios with more than 5,310 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.

About Australia Pacific LNG
Australia Pacific LNG Pty Limited is an incorporated joint venture between Origin Energy Limited (37.5%), ConocoPhillips (37.5%) and Sinopec (25%). The Australia Pacific LNG project includes the development of Australia Pacific LNG's substantial coal seam gas resources in the Surat and Bowen Basins, a 530 km transmission pipeline, and a multi-train LNG facility on Curtis Island, near Gladstone. www.aplng.com.au