Investor Presentaiton

LRECS: from under-supply to over-supply Renewable generation certificate surrenders by type: Australia-wide Certificates (thousands) 40,000 35,000 30,000 25,000 20,000 15,000 10,000 5,000 1 agl 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Onwards Large-scale Source: Clean Energy Regulator, AGL Investor Day | 13 December 2017 Existing small-scale -Current Target 29

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