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Investor Presentaiton

Firming costs will become a more critical component of market pricing Five key considerations go into estimation of costs 1 2 3 4 agl 5 Diversity of renewable resources (source and location) Concentration of renewables in state (e.g. wind in South Australia and solar in Queensland) Flexibility of existing portfolio, including generation and demand-side management Ability to contract insurance products with third parties Development of new assets (gas peaking plant versus storage) Investor Day | 13 December 2017 24 24
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