Investor Presentaiton

Flexibility to fund growth and capital management agl Debt maturity profile ($m) Significant headroom remains, with no major re-financing until hybrid call in June 2019 Adjusted funds from operations/net debt 50% ~$0.5b head- ~$2.5b head- ~$2.4b 900 head- 45% room room room 800 40% 700 35% 600 30% 500 25% Internal target range determined by credit rating 400 20% 300 15% 10% 200 5% 100 0% 0 FY15 FY16 FY17 Investor Day | 13 December 2017 Bond Debt Drawn Bank Debt Undrawn Bank Debt Hybrid Notes 51

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