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Investor Presentaiton

Imperatives and objectives framing our activity Strategic imperatives driving our agenda 7 Prosper in a carbon- constrained future Build customer advocacy Key objectives for strategy and decision-making From: mass retailing To: personalised retailing From: operator of large assets To: orchestrator of large and small assets From: high emissions technology To: lower emissions technology Strategic framework to enable delivery Embrace transformation Drive productivity Unlock growth AGL Energy in action. Strategic framework driving towards growth Embrace transformation Drive productivity First-half achievements Unlock growth 8 > AGL Macquarie enterprise agreement resolved > Ongoing rollout of Lean, Agile and scenario planning > Nyngan, Broken Hill asset sales > Continued progress on opex, working capital and sustaining capex reductions > PARF new build projects progressing > Launch of Customer Experience Transformation program > New Energy "innovation accelerator" > Resolve Portland smelter contract* >Resolve AGL Loy Yang enterprise agreement > Ongoing policy reform advocacy > Clarify rehabilitation position Second-half priorities > Complete Silverton asset sale* > Continuation of asset sale program > Completion of FY17 opex, working capital and sustaining capex reductions > Establishment of post FY17 productivity performance goals > Deliver first Signature Moments > Additional New Energy initiatives > Launch WA gas retail > Continue LNG import facility FEED *Executed in January 2017 AGL Energy in action 9/2/2017
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