October 2011

Investor Presentation

Agenda

TRUenergy overview

Strong, balanced business model

Retail Scale and Quality

Diverse generation portfolio supported by strong fuel position

Strong financial discipline and position

Summary

2

A strong portfolio of diversified assetsRETAIL ASSETS*

Customers 2.8 million customer accounts

ELECTRICITY ASSETS^ 5,613MW

Yallourn Coal-fired power station 1,480

Tallawarra A Gas-fired power station 420

Hallett Gas-fired power station 203

Delta Western Gentrader(Mt Piper & Wallerawang)

Offtake Coal-fired power stations

2,400

Newport & Jeeralang Offtake from gas-fired plants 966

Waterloo & Cathedral Rocks Wind farms 144

PROSPECTIVE DEVELOPMENT^ 1,546MW

Tallawarra Stage B (permitted) 420

Marulan Gas-fired power station (permitted)

700

Mallee Solar Park Proposal for solar power station 180

Petratherm 10% equity in Paralanageothermal project

30

Stony Gap, Roberstown & Waterloo II

Wind farms 216

GAS ASSETS^

Iona gas storage and processing plant

22 PJ gas storage facility

Eastern Star Gas 30.8% (>500PJ of equity CSG: GunnedahBasin. Subject to shareholder & court approval)

Upstream gas Equity in Queensland CSM developments

A & B

*As at 30 June 2011^As at 30 September 2011

TRUenergy has evolved to be one of Australia’s leading vertically integrated and diversified energy companies 3

Delivering financial scaleOVERVIEW

Equity $4.2bn(as at 30 June 2011)

Total assets $9.2bn(as at 30 June 2011)

Total liabilities $5.0bn(as at 30 June 2011)

Drawn net debt $2.6bn(as at 30 June 2011)

Revenue $3.0bn*(6 months to 30 June 2011)

EBITDAFNormalised

$379M*(6 months to 30 June 2011)

NPATNormalised

$148M^(6 months to 30 June 2011)

Vertically integrated model provides broad optionality

•Includes only four months of NSW assets ^ Excludes NSW acquisition costs and stamp duty and only four months of NSW contribution

A & B

4

Notes1. TRUenergy analysis of annual output for Origin and TRUenergy inclusive of estimated full year generation for Eraring/Shoalhaven and Mount Piper/Wallerawang2. Source: Scheduled and Semi-Scheduled capacity for winter 2011/12 as per Australian Energy Market Operator (“AEMO”); Based on equity ownership (as per public filings); AGL

capacity includes Oaklands Hill and Hallett 5 wind farms; Origin capacity includes Mortlake3. AGL’s generation (GWh) does not include their 32.5% interest in Loy Yang; International Power includes their 92% interest in Hazelwood Power

AGL Origin TRUenergy

# Customers (‘000’s)

Electricity 1,925 3,214 1,984

Gas 1,369 923 827

Generation Capacity (MW) 3,116 5,948 5,613

Generation Output (MWh)(1) 4,938 18,620 31,416

Total capitalisation at 30 June 2011(A$m book net debt + equity)

6,813 17,799 6,819

S&P / Moody’s Credit Ratings BBB (Stable) / – BBB+ (Stable) / Baa1 (Neg) BBB (Stable) / –

A scale player in the industry post-NSW sale

MW

NEM-wide Generation Capacity (MW)(2)

5,9484,870

4,0063,056

5,613

3,330 3,116

0

2,000

4,000

6,000

8,000

Origin TRU MacGen SnowyHydro

StanwellCorp.

AGL Int.Power

Existing Capacity Post NSW Acquisition

Government Owned

Existing NEM-wide Energy output (GWh) (3)

GWh

11.2%9.5% 9.1% 8.7% 8.3%

6.9%

2.4%

15.4%

0%

5%

10%

15%

20%

TRU MacGen Int.Power

Origin CSEnergy

LoyYang

Stanwell AGL

Pre-Acquisition NSW Acquisitions

Government Owned

National Market Share % Shown in BlueMarket Share / Million Customers

Electricity & Gas Retail Customers

TRUenergy now the national No. 2 electricity retailer, No. 3 gas retailer, No. 1 generator by output, and No.2 generator by capacity 5

33%4.1 27%

3.3 23%2.8 17%

2.1

0

1

2

3

4

5

Origin AGL TRU OthersExisting Customers Post NSW Privatisation

Managing DirectorRichard McIndoe

(1,209 employees)

Chief Financial

OfficerKevin

Holmes

Director Operations & Construction

Michael Hutchinson

DirectorEnergy Markets

Mark Collette

Director Human

ResourcesDavid Purvis

Director Corporate

and Government

AffairsKate Shea

General Counsel & Company Secretary

David Lambert

Director Information

ServicesGary Martin

DirectorRetailAdrian Merrick

Experienced management team

Significant business and industry experience, track record of delivery 6

Evolution to reach full integration with scale

Yallourn/AusPower

Fully Integrated With Scale

Horizontal Integration

Vertical Integration

Base load brown coal generator

Some vertical integration through AusPower I&C retail business

Risks associated with single generator in a single market

Generation expansion via acquisition, greenfielddevelopment

Generation portfolio in different states, different fuel types, across merit order

Acquired direct interest in mass market retailer

I&C expansion to track generation growth

Gas plant expansion

Development of Tallawarrapower station

Portfolio optimisation via power station asset swap with AGL

Vertically integrated company with national scale and balance of generation and retail

In-house renewables and gas expertise

Reduced emissions intensity

Australia’s third largest energy retailer

Invest

men

t

Time

Acquired NSW retail and gentrader

2011

Tallawarra PS commissioned 2009

Acquired TXU Merchant Energy Business 2005

Acquired Yallourn 2001

Iona gas plant expansion 2009

Proposed Eastern Star upstream CSG

2011

Roaring 40s wind assets

acquired 2011

A clear strategy has resulted in a unique group of assets

Tallawarra power station construction

2006

Roaring 40’s wind JV formed 2005

Hallett power station 2007

Geothermal investment 2008

7

Key business strengths

Robust financial position and strong

credit metrics supporting

investment grade rating

Proven strong debt market and

shareholder support

Clear carbon strategy and

actively managed environmental

issues

Sound operating performance

Experienced management team

Horizontally diversified retail and generation portfolio

and fuel base

Vertically integrated business model

provides a natural hedge

Strong marketposition

TRUenergy

Robust business model8

Strong, balanced business model

Vertical integration is the key strategic driver

Mass MarketRetail Load

SoldContracts

LoadSwing

NationalElectricityMarket

GenerationEnergy

BoughtContracts

Electricity

Operations & Construction Energy Markets

Hallett

Tallawarra

Ecogen

Yallourn

Electricity

Channels to Market

Mass Market Retail

Business Retail

GenerationCapacity

Retail

EnergyMarkets

I&C/BusinessLoad

Balanced Capacity

Balanced Energy

Available for Sale Sales

Mt Piper & Wallerawang Pricing, forecasting & green certificates

Outage planning, bidding & dispatch 

The TRUenergy portfolio is well balanced with significant scale and diversity10

Vertical integration reduces risk and increases flexibility

2011 Actual Electricity Position*Historical Generation and Retail Load

0.0

5.0

10.0

15.0

20.0

25.0

30.0

Long Short

TWh

Yallourn

Swaps

Vic

Delta WestNSW

Qld/SA

Gas Fired

PeakingGen

& Caps

Retail Load Swing

* As at 31 July 2011

Portfolio allows us to maximise returns in a volatile market 11

0

2

4

6

8

10

12

14

16

18

2007 2008 2009 2010

TWh

Yallourn EcoGen Tallawarra Other Resi SME Business I&C

Merit Order• Portfolio of generation assets with strength in both geographic and fuel diversity

• TRUenergy’s portfolio of assets and options is well positioned to lead the transition to a low emissions future

• TRUenergy’s average weighted short run marginal cost (“SRMC”) to generate is slightly below the NEM weighted average

Excludes semi scheduled capacity (such as wind power) and hydro, which effectively has zero SRMC, and assumes fuel cost is held constant Brown coal (excl. Yallourn) generators highlighted in brownSource: TRUenergy modelling. NEM Average line shown is the aggregate of the SRMC estimated for each generator multiplied by its capacity.

TRUenergy’s portfolio is lower than market average merit order with or without carbon

440

10,000 15,000 25,000 30,000 35,0000

0 5,000

20

40

60

80

100

120

380

400

20,000

2010 Indicative Merit Order (No Carbon Price)

SRM

C (

$/M

Wh)

Indicative capacity (MW)

Yallo

urn:

1,4

80M

W B

row

n C

oal

Mt P

iper

: 1,4

00M

W B

lack

C

oal

Talla

war

ra: 4

35M

W G

asW

alle

raw

ang:

1,0

00M

W B

lack

Coa

lN

ewpo

rt: 5

00M

W G

as

NEM average ($30.6/MWh)

Hallett: 203

MW Gas

12

Merit Order• Portfolio of generation assets with strength in both geographic and fuel diversity

• TRUenergy’s portfolio of assets and options is well positioned to lead the transition to a low emissions future

• TRUenergy’s average weighted SRMC to generate is slightly below the NEM weighted average

Excludes semi scheduled capacity (such as wind power) and hydro, which effectively has zero SRMC, and assumes fuel cost is held constant Brown coal (excl. Yallourn) generators highlighted in brownSource: TRUenergy modelling. NEM Average line shown is the aggregate of the SRMC estimated for each generator multiplied by its capacity.

TRUenergy’s portfolio is lower than market average merit order with or without carbon

Hal

lett:

203

MW

Gas

Jeer

alan

g: 4

66M

W G

as

Talla

war

ra: 4

35M

W G

as

Mt P

iper

: 1,4

00M

W B

lack

Coa

l

Wal

lera

wan

g: 1

,000

MW

Bla

ck C

oal

Yallo

urn:

1,4

80M

W B

row

n C

oal

0 10,000 15,000 20,000

460

25,000 30,000 35,0000

20

40

5,000

80

100

120

400

420

140

New

port:

500

MW

Gas

60

2010 Indicative Merit Order ($23/t Carbon)

SRM

C (

$/M

Wh)

Indicative capacity (MW)

NEM average ($50.3/MWh)

13

Generation• Develop generation to support retail load

• Renewables opportunities

• Eventual replacement of carbon intensive generation

Project Pipeline

Technology Project State MW

Peaking gas Marulan(development approval secured)

NSW 700MW

Peaking gas Strzelecki(site secured)

Vic Up to 800MW

Intermediate gas Yallourn(site secured)

Vic 1,000MW

Intermediate gas Tallawarra B (planning approval secured)

NSW 420MW

Peaking/Intermediate gas

Greenfield sites QLD Up to 1,400MW

Late Stage Wind Sites Stony Gap, Waterloo II, Robertstown

SA 216MW in total

Solar PV proposal Mallee Solar Park(planning approval secured)

Vic Up to 180MW

Geothermal Paralana SA 30MW pilot

TRUenergy’s strategy for sustainable growth

Pipeline of projects to support retail position and meet clean energy requirements

Brisbane

SydneyAdelaide

Melbourne

NSWUpstream gas; greenfield generation project opportunities

QueenslandGreenfield generationproject opportunities

SARenewables focus

VICGas developments; Renewables and greenfield generation project opportunities

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Retail Scale and Quality

A strong retail position in a consolidated environment

VIC RetailTRUenergy and EA accounts26% of market

SA RetailTRUenergy and EA accounts12% of marketarket

Brisbane

Melbourne

SydneyAdelaide

Queensland RetailTRUenergy and EA accounts5% of market

NSW/ACT RetailTRUenergy and EA accounts34% of market

TRUenergy Retail Footprint

Total accounts ~ 2.8million

Electricity accounts~ 1.98millions

Gas accounts~ 827,000

The combined business EnergyAustralia and TRUenergy creates a truly national leader with ~ 23% share of the national energy market 16

As at 30 June 2011

Australian energy retail consolidation has led to three major participants

0

1

2

3

4

5

AG

L

Orig

in EA

TRU

ener

gy

Cou

ntry

Inte

gral

Sim

ply

Oth

er

Cus

tom

ers

(# m

)

Pre NSW Energy Asset Sales

Cou

ntry

Inte

gral

Sim

ply

0

1

2

3

4

5A

GL

Orig

in EA

Lum

o

Oth

er

Cus

tom

ers

(# m

)

TRU

ener

gy

NSW asset sale was the last opportunity for major retail sector consolidation

Market share by retailer in NSW

65%

NSW Govt

AGL

Origin

TRUenergy

Other

Post NSW Energy Asset Sales

17

Lum

o

• Drive profit growth and performance improvements

• Protect strong incumbent position in Vic and NSW

• Organic growth in Queensland and SA

• NSW integration

• Back office improvements, including new customer care and billing system to reduce cost to serve

Approach to retail market position

Strong position in key NEM retail markets

Brisbane

SydneyAdelaide

Melbourne

SAMaintain retail position and some organic growth

VICProtect retail position

QueenslandKey area for organic retail growth

NSWProtect retail positionComplete integration

18

Diverse generation portfolio supported by strong fuel position

Yallourn48%

Tallawarra14%

Hallett7%

Ecogen31%

With Delta Western and wind, TRUenergy has a more balanced portfolio of generation assets and fuel

• TRUenergy now has the largest privately-owned energy portfolio

• Delta Western increased generation capacity controlled by TRUenergy by almost 80%

• Reduced TRUenergy’s overall emissions intensity (~1.09 to 0.95 sent out vs NEM average intensity of ~0.89)

Brown Coal Gas Black Coal

Fuel Mix before Acquisition Fuel Mix with Delta West and Roaring 40s

TRUenergy’s portfolio mix of brown coal, black coal, gas fired and wind generation broadly reflects the Australian generation sector on average

Fuel Mix in the NEM

Wind Hydro Others

Yallourn26%

Wallerawang18%

Mt Piper25%

Ecogen17%

Tallawarra8%

Hallett3.5%

Wind2.5%

43%

15%

21%

21%

3%2%

Source: AEMO, AER2010

20

• Working level interest of 20% in ESG permits

• Access to over 500 PJ of equity coal seam gas from Gunnedah Basin

• Hedges rising gas price risk

• Potential development upside

• Experienced partner in Santos

Eastern Star Gas improves upstream gas position

Ownership Structure

Santos TRUenergy

ESG

ESG Permits*

80%

100%20%

* PEL 238, PAL 2, PPL 3, Wilga Park Power Station, PEL 433, PEL 434. ESG also has farm-in rights over PELs 6, 427 and 428 in NSW; and PELs 117, 121 and 122 in SA

TallawarraA&B

Marulan

YallournStrzelecki

21

Wind farm acquisitions and development pipeline

Operational

Waterloo

South Australia

100% ownership

111MW

Cathedral Rocks

South Australia

50% ownership

66MW

Advanced planning stage Other sites for development options

Stony Gap

South Australia

100% ownership

123MW

Robertstown

South Australia

100% ownership

75MW

Waterloo II Bangor (SA)

South Australia One Tree Hill (NSW)

100% ownership Dry Plains (NSW)

18MW Bowmans (Vic)

Yea (Vic)

• Renewable energy expected to exceed growth in thermal generation, underpinned by RET

• Estimated $25Bn of industry investment required to 2020

• Flexibility to meet REC through most cost effective source:

Build or contract

Greater flexibility to meet REC requirements

As at 30 September 2011

22

Fixed Price Period

July 2012Carbon Scheme

commencesJuly 2015

Converts to floatingprice ETS

Price/floor ceiling

Initial emission targets period

November 2011Pass Carbon Scheme

Legislation (estimated)

July 20205% reduction target

Operation

Legislation

July 2018

Floating Price Period

Carbon Policy

Diverse portfolio and TRUenergy climate change strategy reduces carbon policy risk

2007 - 2010

Introduced a cap on carbon intensity and undertook immediate action to reduce emissions by 2010

• Sustainable reduction in 370,000 tonnes of CO2 at Yallourn from 2007 to 2010

2020

Cut emissions intensity by 1/3 of 2007 levels

(from 1.2TCO2/MWh to 0.8TCO2/MWh)

2035

Reduce emissions by 35% on estimated 1990 baseline by share of the National Electricity Market

2050

Reduce emissions by 60% on estimated 1990 baseline by share of the National Electricity Market

TRUenergy’s Targets

23

Strong financial discipline and position

*

Improving financial performance

2010 Performance(1)

Revenue $3,415m 11% on 2009

EBITDAF $627m 25% on 2009

NPAT $202m 40% on 2009

Key drivers

• New projects – Tallawarra Power Station

• Sustained retail margins

• Improved asset performance

• Opex management and bad debt management

2011 Performance (6 months to June 30)

• The business continues to perform well in 2011

• Credit rating reaffirmed ‘BBB/Stable’ by S&P post NSW announcement

• 4 months contribution from NSW assets

• Excludes Roaring 40s, Petratherm and Eastern Star Gas and normalised to exclude once off costs (eg NSW assets, Yallourn insurance, etc)

0

50

100

150

200

250

2008 2009 2010 1H 2010 1H 2011

A$m

CAPEX

0

200

400

600

800

2008 2009 2010 1H 2010 1H 2011

A$m

EBITDAFCAGR 2008 ‐2010:

12.0%

29.5%

(1) Normalised0

1,000

2,000

3,000

4,000

2008 2009 2010 1H 2010 1H 2011

A$m

RevenueCAGR 2008 ‐2010:

10.1%70.8%

25

Weighted Average Debt Maturity is 4.4 years

Debt Maturity Profile

59%17%

24%

Bank Facilities

USPP

A$ Bond

Supported with BBB stable credit rating and clear intention to maintain prudent investment grade credit profile

Long-term and increasingly diversified debt facilities• Credit rating upgraded in 2010 to ‘BBB/Stable’ by S&P

• Total drawn net corporate debt of $2,616M as at 30 June 2011*

• First time USPP issuance in 2010

• “NSW” acquisition bridge $1.2bn + working capital $0.4bn

• 2011 refinancing of term maturities and “NSW” bridge debt (Total New Facilities= $2.05bn)

• Positioning for future debt capital markets issuance to diversify debt sources and tenor

Debt composition

26

* Excludes Cathedral Rocks non-recourse debt

Summary

Key business strengths

Robust financial position and strong

credit metrics supporting

investment grade rating

Proven strong debt market and

shareholder support

Clear carbon strategy and

actively managed environmental

issues

Sound operating performance

Experienced management team

Horizontally diversified retail and generation portfolio

and fuel base

Vertically integrated business model

provides a natural hedge

Strong marketposition

TRUenergy

Robust business model28

Appendix

Plant Ownership /Contract

Capacity (MW)

Role CO2 intensity(kg/kWh)

Fuel Type and Arrangement

Yallourn(VIC)

Own 1,480MW brown coal fired steam turbines (4 units)

Baseload 1.40 Own the adjacent brown coal mine, operating licence to 2026 and reserves beyond 2032.

Tallawarra(NSW)

Own 420MW combined cycle gas turbine (gas and steam units)

Base to intermediate

0.36 Supplied from portfolio of long term gas contracts

Hallett(SA)

Own 203MW open cycle gas turbines (12 units)

Peak to super peak

1.06 Supplied from portfolio of long term gas contracts and/or can be fired on Distillate

Mt Piper(NSW)

Contract 1,400MW black coal fired steam turbines (2 units)

Baseload 0.81 Black coal contracts from mines in the region

Wallerawang(NSW)

Contract 1,000MW black coal fired steam turbines (2 units)

Baseload 0.88 Black coal contracts from mines in the region

Newport (VIC)

Contract 500MW gas fired steam turbine

Peak to intermediate

0.53 Supplied from portfolio of long term gas contracts

Jeeralang(VIC)

Contract 466MW gas fired steam turbines

Peak 0.78 Supplied from portfolio of long term gas contracts

Summary power station and fuel profile

Generation portfolio diversified by fuel type, location and role. Generation mix supports retail load shape and reduces hedging costs and risks 30

Overview• Base load, brown coal thermal plant at Yallourn (South East Victoria)• Third largest power station in Victoria• Four independent generating units• Station located next to the TRUenergy-owned brown coal mine• Secure, low-cost fuel with mining licenses until at least 2026• Average availability since privatisation ~89%

2010 Achievements• Key performance indicators results:

equivalent availability factor 89.5%forced outage rate 3.9%

• Record net generation of 11,644 GWh• Unit 3 High/Intermediate Pressure turbine upgrade

delivered 15 MW increase for same full load steam flow• Major contract awarded for installation of coal conveyor

infrastructure for new Maryvale field

`

Installed capacity

Details

1,480MW 2 x 360MW2 x 380MW

CO2 intensity(kg/kWh)

1.40

Yallourn output is equivalent to 23% of electricity demand in Victoria & 6% across the NEM

Yallourn provides low cost baseload energy to supply retail customers in the NEM 31

Overview• State-of-the-art combined cycle intermediate plant with capacity of 420MW • Operation commenced on 23 January 2009• Located on Lake Illawarra ~ 15 km south of Wollongong• Emits 50-70% less greenhouse gas than traditional coal fired

generators – important generation asset in the transition to a lower carbon intensity

2010 Achievements• Key performance indicators results:

equivalent availability factor 90.9%forced outage rate 3.6%

• Generation output of 2,550 GWh• Station met heat rate target and air emissions targets for

NOx and CO2 intensity

Tallawarra Lands• 600Ha site with potential for land development upside• Pre-rezoning approval granted

`

Installed capacity

Details

420MW Gas and steam turbines

CO2 intensity(kg/kWh)

0.36

Tallawarra Power Station is one of the most efficient gas-fired power stations in Australia

Tallawarra provides baseload to intermediate electricity to the NEM 32

`

Installed capacity

Details

203MW 12 open cycle gas turbines

CO2 intensity(kg/kWh)

1.06

Overview• Hallett has an installed capacity of 203MW with 12 quick start open

cycle gas-turbine generators• The gas is supplied to the station from the Moomba pipeline with back-

up diesel fuel stored on site

2010 Achievements• All key performance indicators met including:

equivalent availability factor 96%start reliability 98.8%forced outage rate 0.54%

• Installation of an additional gas turbine with capacity of 23MW completed in 2011 increasing capacity to 203MW

Hallett is a peaking plant which can provide up to 5% of South Australia’s electricity capacity

Hallett’s quick start-up provides risk management against rapid demand changes within the customer base 33

Mount Piper Wallerawang Newport Jeeralang

Fuel type Black coal Black coal Gas Gas

Size (MW Capacity) 1,400 1,000 500 466

Merit Order  Base load Peak load

Contract capacity 1,340 960 500 466

Expiry of Operating Life 2043 2029 2019 2019

Carbon Intensity as generated 0.81 0.88 0.53 0.78

Delta Western GTA Ecogen Hedge

Agreements add 3,366MW of generation capacity

Structured off-takes assist to match TRUenergy’s wholesale capacity with retail demand

34

`

Installed capacity

Details

StorageProcessing

22PJ/day500TJ/day

Overview• Iona Gas Plant is an underground gas storage and gas processing

facility near Port Campbell in south west Victoria• Commissioned in August 1999• The plant is connected directly to both the Victorian gas system and the

SEAGas Pipeline (transmission pipeline connecting Victoria and South Australia)

• Capacity into Victoria is 260 TJ per day• Capacity into the SEAGas Pipeline is 165 TJ per day

2010 Achievements• Commercial availability of 98.8%• 11 years operation without a Lost Time Injury• Completed plant expansion in June 2010

Gas contracts• Portfolio of gas supply contracts from multiple suppliers

Iona underground gas storage capacity represents ~25% of peak-day Victorian retail gas demand

Iona smoothes TRUenergy’s gas demand, storing gas during summer and providing extra gas for heating in winter 35

NSW integration on track

Sales & Marketing• Sales channel management• Marketing services

Contracts • Registering small/large customers and large customer connection points

Forecasting & settlements

• Load forecasting• Wholesale settlements

Billing Services• Bill production and price changes• Issuing service orders for DNSPs

Collections & Debtor Management Service

• Credit collection & debt recovery• Complaints and disputes

Customer Service• Customer enquiries and ‘up-sales’• Account mgnt & contract renewals

Business Information Service

• General ledger transactions• Customer and sales activity data

0 12 24 36months

Customer transition

TRU TSA Min TSA MaxTSAPre-Purchase

36

30

Sep

tem

ber

Transition Services Agreement Timeline

36

Achievements against Climate Change Strategy

Commitments Achievements since 2007

Cap carbon intensity

• No construction of new power stations using traditional, Greenfield coal-fired technologies

Completed construction and began operation of Tallawarra power station –Australia’s most efficient gas fired power station

NSW acquisitions have reduced carbon intensity of generation portfolio

Reduce emissions

• Reduce emissions from electricity generation and gas processing operations

• Manage waste and water

• Use less intensive fuels for transport and operations

• Improve efficiency of corporate offices

Significant carbon reduction at Yallourn from operational efficiency improvements

Recycled cooling water introduced at Yallourn

Development of Environment and Resource Efficiency Plans

Improved sustainability of corporate offices during refurbishment

37

Achievements against Climate Change Strategy

Commitments Achievements since 2007

Invest in emerging low and zero emission technology

• Invest in more renewable energy, such as wind and solar

• Direct investment to low emission technologies

• Support research and development

Paralana geothermal project

Windfarm investments (Waterloo, Cathedral Rocks and development sites)

Ignite project

Mallee Solar Park proposal

Help customers manage their carbon footprint

• Increase uptake of accredited GreenPower

• Offer energy efficient products and services

• Help customers to offset emissions

• Support community programs to reduce emissions

Increased accredited GreenPowercustomers by 22,000

Established Energy Management Initiative team

Launched carbon offset tool

Energy efficiency audits in Vic and SA

Launched TRUenergy Solar Solutions

Partnership with Conservation Volunteers Australia

38

Customer service and back office Oracle platform will replace multiple systems with a single platform:

• Increases customer responsiveness

• Improves cost to serve

• Supports development of innovative products

• System testing well advanced

• Deployment in 2012

Existing schedule for transition

Enhanced customer care and billing system and integration timeline

TSA

TRUenergy

Oracle platform

NSWMigration

Legacy Systems

Schedules vary but all core services available for 36 months

No migration of customers during TSA. 

Migrate existing customers

1 March 2011Timeline (months) 0 12 24 36

39

DisclaimerThis presentation may contain forward looking statements and comments about future events, including our expectations about the performance of TRUenergy Group's business. Such comments are not audited and are based on a number of factors that we cannot control and so no representation or warranty is provided by or on behalf of TRUenergy or CLP that they should or will be achieved. We cannot be certain that the comments will be accurate or complete and so they should not be relied on.

Please note that, in providing this presentation, TRUenergy has not considered the objectives, financial position or needs of any particular recipient.

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