Origin Energy (ORG) Investor Update summary

Strategic Positioning and Energy Transition

• Focus on leading the energy transition with competitive advantages in customer base, flexible gas supply, and world-class assets, including a large gas-fired generation fleet and exposure to global growth via Octopus.

• Anticipates strong electricity demand growth driven by electrification, EVs, AI data centers, and targets 4–5 GW renewables and storage by 2030, with renewables expected to reach 82% of the mix.

• Emphasizes the value of existing assets, especially gas-fired generation, amid increasing price variability and coal exit.

• Distributed energy resources and digital capabilities are transforming customer engagement and supply-demand management.

• Ambition to decarbonize portfolio in line with a 1.5°C pathway, supporting net zero aims and innovation in customer offerings.

Customer and Product Innovation

• Maintains a leading customer portfolio with ~4.7 million accounts, strong brand preference, and award-winning customer experience, with net growth of 140k accounts YTD and churn rates 7% below market average.

• Expanding multi-product bundling, community energy services, and digital solutions to increase customer lifetime value.

• Virtual Power Plant (VPP) is among the largest globally, integrating distributed assets and enabling flexible, low-cost, low-carbon solutions for customers, with over 420k connected devices and a 2 GW target by 2026.

• Origin Zero supports large businesses in decarbonization, electrification, and e-mobility, with growing uptake in non-commodity services.

• Product innovation includes EV tariffs, battery maximizer plans, and bundled electrification solutions.

Asset Management and Growth

• Largest thermal gas peaking fleet and flexible gas portfolio provide resilience and value as coal exits.

• Battery build-out underway in every NEM state, with projects like Eraring, Mortlake, and Supernode, aiming for at least one battery per state and 1 GW of committed battery projects.

• Renewables portfolio expanding, with strategic focus on transmission access and early-stage development, exemplified by Yanco Delta Wind Farm (1.5 GW acquired).

• Integrated approach to managing short energy positions, leveraging renewables, storage, and trading expertise.

• Targeting electricity gross profit margin of $25–$40/MWh and gas margin of $3–$4/GJ over the medium term.