Origin Energy (ORG) investor relations material

Executive summary

• APLNG revenue rose 6% quarter-over-quarter, driven by higher LNG spot volumes/prices and a 45% increase in domestic revenue from higher short-term contract volumes, despite lower prices.

• FY26 APLNG revenue declined 19% year-over-year due to lower oil-linked LNG volumes/prices and domestic volumes/prices, partially offset by higher spot LNG volumes.

• FY26 production at Australia Pacific LNG reached 668 PJ, exceeding the midpoint of guidance, with stable quarterly output and strong cash flow generation.

• Octopus Energy achieved significant customer growth, with 2.2 million new accounts in FY26 and continued profitability in the UK.

• Legal separation of Octopus Energy and Kraken completed, positioning both for future growth with significant global customer and contracted account bases.

Financial highlights

• APLNG's realised oil price in Jun-26 quarter was US$68/bbl, down from US$73/bbl in Mar-26 and US$78/bbl in Jun-25.

• North Asian LNG market prices (JKM) averaged US$17.5/mmbtu in Jun-26, up from US$10.4/mmbtu in Mar-26 and US$12.5/mmbtu in Jun-25.

• June quarter Integrated Gas revenue rose 6% sequentially to $1,964 million, driven by higher LNG spot volumes and prices.

• Origin received $911 million in fully franked dividends from APLNG in FY26.

• Kraken FY26 revenue increased 19% year-over-year, with contracted accounts reaching 95 million.

Outlook and guidance

• FY27 APLNG production guidance is 625–670 PJ, reflecting natural decline offset by optimization and new drilling.

• Capex and opex guidance for FY27 is $3.0–$3.3 billion, with increased drilling and infrastructure investment.

• Higher oil prices from Middle East conflict expected to benefit FY27 LNG contract pricing.

• Exploration/appraisal spend expected to be lower as results from recent wells are assessed.