1

Annual General Meeting15 October 2008

2

The Board

Roland WilliamsNon-Executive Director

2

3

Bruce BeerenNon-Executive Director

The Board

4

Grant KingManaging Director

The Board

3

5

Bill HundyCompany Secretary

Company Secretary

6

Helen NugentNon-Executive Director

The Board

4

7

Trevor BourneNon-Executive Director

The Board

8

Gordon CairnsNon-Executive Director

The Board

5

9

10

Chairman’s Address

6

11

Share Price

Origin Share Price Performance(Indexed to 100 from 1 November 2007)

168

62

50

75

100

125

150

175

200

Nov-07 Dec-07 Jan-08 Feb-08 Mar-08 Apr-08 May-08 Jun-08 Jul-08 Aug-08 Sep-08 Oct-08

Origin

S&P ASX 100

12

Integrated Fuel Company

• Leading producer, wholesaler and retailer of energy in Australia and New Zealand

• Largest holder of proved and probable reserves in Eastern Australia

• Largest owner and developer of gas fired electricity generation in Australia

• Largest green retailer in Australia

7

13

up 7%$875 millionOCAT

up20%$443 millionUnderlying Profit

up19%25 cpsFull year dividend fully franked

up 8%59.0 cpsEPS – Statutory

up14%

up13%

up12%

up29%

50.6 cpsEPS – Underlying

$517 millionStatutory Profit

$1,309 millionEBITDAF

$8,275 millionRevenue

Performance Highlights

14

Safety performance improved by 47%

• Total Recordable Injury frequency rates improved from 16.3 to 8.5

• Safety remains a high priority

• We are seeking a further improvement this year

8

15

Environment

• Support of carbon emission trading policies

• Investment in low carbon technologies

16

Coal Seam Gas

• Origin is the largest holder of coal seam gas (CSG) reserves in Australia

• Joint Venture with ConocoPhillips announced 8 September 2008

• BG offer rejected – lapsed 24 September 2008

9

17

18

Financial Position

• Following completion of ConocoPhillipstransaction:­25 cent fully franked dividend­$1.275 billion on-market share buy-back

• Dividend payout ratio to target 60% of underlying earnings

10

19

Chairman’s Address

20

Managing Director’s AddressManaging Director’s Address

11

210

5

10

15

20

25

2001 2002 2003 2004 2005 2006 2007 2008

cent

s

Origin’s results in 2008 continue an impressive track record of underlying earnings growth

0

1,500

3,000

4,500

6,000

7,500

9,000

2001 2002 2003 2004 2005 2006 2007 2008

$mill

ions

0

300

600

900

1,200

1,500

2001 2002 2003 2004 2005 2006 2007 2008

$mill

ions

0

10

20

30

40

50

2001 2002 2003 2004 2005 2006 2007 2008

cent

s

Dividends per shareCompound annual growth rate: 30%

EBITDAFCompound annual growth rate: 23%

Underlying earnings per shareCompound annual growth rate: 17%

RevenueCompound annual growth rate: 26%

Source: Origin

22

Origin Total Shareholder Return Vs ASX 100 Total Return

0

200

400

600

800

1,000

1,200

1,400

1,600

Feb-2000 Feb-2001 Feb-2002 Feb-2003 Feb-2004 Feb-2005 Feb-2006 Feb-2007 Feb-2008

Ori

gin

TSR

and

ASX

100

Acc

umul

atio

n In

dex

reb

ased

to

100

at d

emer

ger

S&P/ASX 100 Index Total Return Origin Total Shareholer Return

Source: Guerdon Associates, Bloomberg

35%Origin's Compund Annual Growth

Indexed to 100 from 21 February 2000 to 7 October 2008

Origin’s Total Shareholder Return has been significantly in excess of returns from the ASX 100…

…averaging 35% per annum from the demerger to early October 2008

12

23

The continued growth of Origin is based on our strategy of being a fuel integrated generator and retailer of energy

Origin continues to invest in assets that grow the business, particularly in the upstream, generation and eventually LNG

24

Origin has a 30.75% interest in the project and is purchasing 48.5% of the sales gas for its Retail operations

Otway Gas Project: Onshore plant near Port Campbell, Western Victoria

The Otway Gas Project completed commissioning and commenced production in June this year

• Gross annual production will be approximately 60 PJ of sales gas and 1.8 million barrels of condensate and LPG

13

25

Origin announced the purchase of the Uranquinty Power Station in July 2008

• The Uranquinty power station is located near Wagga Wagga in NSW

• When completed the power station will consist of four 160 MW open cycle gas turbines with a total capacity of 640 MW

• Fully completed the project will cost $704 million

Uranquinty Power Station

Uranquinty is currently in commissioning phase and is expected to be fully operational in early 2009

26

Capacity expansions at the Quarantine and Mt Stuart Power Stations are underway…

Mt Stuart Power Station

Quarantine Power Station: Gas turbine module being delivered to site

… and will lead to a 246 MW increase in generation capacity in 2009

14

27

Construction of the Kupe Gas Project in New Zealand is progressing well…

… and will commence gas production in mid 2009

Kupe Gas Project – offshore platform (yellow) during drilling operations

• Origin is the Operator of the Kupe Gas Project and holds a 50% interest

• Origin’s share of production will be approximately 10 PJ of gas, 45 ktonnesof LPG and up to 850,000 barrels of condensate

28

Development of the 30 MW Cullerin Range Wind Farm in NSW has commenced…

…with the potential to develop a further 560 MW of wind capacity through arrangements with Epuron

Cullerin Range Wind Farm site

• Development sites for approximately 60 MW of additional capacity have been secured

• Origin has also acquired an option to access up to 500 MW of wind farm development sites from Epuron

15

29

Construction of the 630 MW combined cycle Darling Downs Power Station is well underway…

… with completion targeted in 2010

Darling Downs Power Station

Darling Downs Power Station

30

The decision to proceed with the 550 MW open cycle Mortlake Power Station in Victoria was announced in July 2008…

Mortlake Power Station: Design

…and is expected to be on line during the 2011 financial year

16

31

Origin and Contact will jointly develop an underground gas storage facility in New Zealand

Ahuroa well site

32

Contact is looking to build on its leading renewables position in New Zealand…

… by investing up to $2 billion across wind and geothermal developments

17

33

The transaction with ConocoPhillips includes all of Origin’s CSG reserves & resources…

… and confirms the value and quality of Origin’s CSG position

The transaction also includes:

• CSG-related production facilities

• Origin’s conventional interests in the Denison Trough

• Existing CSG sales contracts to Origin and third parties

Some of Origin’s CSG reserves and resources are subject to reversionary rights, details of which have been made available to ConocoPhillips

34

ConocoPhillips developed and operates the Darwin LNG Facility…

• One of only two LNG facilities operating in Australia

• Process

650 MMCFD feedstock from Bayu-Undan

Nominal 3.5 MTPA LNG production

Low emission technology

Sales to Tokyo Electric and Tokyo Gas

Construction commenced June 2003

Commissioned February 2006

• Basis for Origin CSG developments

Can be easily “cloned”

Ideal process for CSG gas composition

…processing lean gas from the Bayu-Undan field in the Timor Sea

18

35

ConocoPhillips is the leading producer of coal seam gas in the United States

• Over 25 years’ working experience in coal seam gas (CSG)

• Current production and operations in San Juan and Uinta Basins (USA) and Horseshoe Canyon (Canada)

• Largest producer and acreage holder in San Juan Basin

Conventional and CSG production (1.2 bcfed)

1.6 million acres of land

Stable, large-scale, long-lived production

• Repeatable programs driving efficiency

Differential skills and technologies

Lowest cost operator in the San Juan basin

“Manufacturing” approach to drilling

Leveraging economies of scale

36

Origin is Australia’s leading producer of CSG…

…and operates the largest CSG producing field in Australia at Spring Gully in Queensland

19

37

Managing Director’s AddressManaging Director’s Address

38

Chairman’s Address

20

39

Financial Statements

40

Resolution 2:Adoption of Remuneration Report

21

41

Resolution 2:Adoption of Remuneration Report

Proxy votes received:

For 396,618,285Against 23,613,449Open 14,469,940Abstain 2,484,846

42

22

43

Resolution 3:Election of Directors

44

Bruce Beeren

23

45

Resolution 3:Election of Directors – Bruce Beeren

Proxy votes received:

For 393,982,416Against 27,791,959Open 14,671,304Abstain 740,841

46

24

47

Resolution 3:Election of Directors

48

Kevin McCann

25

49

Resolution 3:Election of Directors – Kevin McCann

Proxy votes received:

For 420,681,607Against 884,501Open 14,868,604Abstain 751,808

50

26

51

Resolution 4:Increase in Non-Executive Directors’ fees

52

Resolution 4: Increase in Non-Executive Directors’ fees

Proxy votes received:

For 408,877,567Against 11,997,851Open 7,070,650Abstain 1,780,141

27

53

54

Resolution 5:Renewal of proportional takeover provisions in Constitution

28

55

Resolution 5: Renewal of proportional takeover provisions in Constitution

Proxy votes received:

For 418,924,903Against 1,134,889Open 15,471,738Abstain 1,654,990

56

29

Annual General Meeting

15 October 2008