Announcement • Dec 06

Brookfield Global Transition Fund I managed by Brookfield Asset Management Inc. (TSX:BAM.A) along with MidOcean Energy, LLC, GIC Private Limited and Temasek Holdings (Private) Limited cancelled the acquisition of Origin Energy Limited (ASX:ORG) from The Vanguard Group, Inc., Australian Super Pty Ltd and others.

Brookfield Global Transition Fund I managed by Brookfield Asset Management Inc. (TSX:BAM.A) along with MidOcean Energy, LLC, GIC Private Limited and Temasek Holdings (Private) Limited submitted a non-binding privatization proposal to acquire Origin Energy Limited (ASX:ORG) from The Vanguard Group, Inc., Australian Super Pty Ltd and others for AUD 16.4 billion on August 8, 2022. Brookfield Global Transition Fund I managed by Brookfield Asset Management Inc. (TSX:BAM.A) along with MidOcean Energy, LLC has entered into a Scheme Implementation Deed to acquire 100% stake in Origin Energy Limited (ASX:ORG) from The Vanguard Group, Inc., Australian Super Pty Ltd and others for AUD 16.4 billion on November 2, 2023. Consortium significantly increases cash consideration to best and final proposal of AUD 9.53 per share. Brookfield Global Transition Fund I managed by Brookfield Asset Management Inc. (TSX:BAM.A) along with MidOcean Energy, LLC has entered into a Scheme Implementation Deed to acquire 100% stake in Origin Energy Limited (ASX:ORG) from The Vanguard Group, Inc., Australian Super Pty Ltd and others for an enterprise value of AUD 18.7 billion on March 27, 2023. Brookfield Global Transition Fund I managed by Brookfield Asset Management Inc. along with MidOcean Energy, LLC submitted a non-binding privatization proposal to acquire Origin Energy Limited from The Vanguard Group, Inc., Australian Super Pty Ltd and others for AUD 15.5 billion on November 9, 2022. The Consortium’s Proposal is at a price of AUD 9.00 per share which values Origin at an enterprise value of AUD18.4 billion. Under the proposed transaction, Brookfield Renewable and its institutional partners would acquire Origin’s energy markets business and MidOcean would acquire Origin’s Integrated Gas division. The price payable under the Indicative Proposal would be reduced by the amount of any dividend paid by Origin prior to implementation of the proposed scheme of arrangement, however, if implementation occurs later than May 15, 2023, the offer price under the Indicative Proposal would then increase by AUD 0.03 per month. The Indicative Proposal follows an earlier indicative proposal from the Consortium to acquire Origin for AUD 7.95 cash per share on August 8, 2022 (equivalent to AUD 7.79 cash per Origin share following the announcement and payment of the H2 2022 dividend of AUD 0.165 cents per share). On September 18, 2022, the Consortium made a further proposal to acquire Origin at an indicative price of AUD 8.70 to AUD 8.90 per share. Origin has entered into a confidentiality and exclusivity agreement with the Consortium. Under the terms of the agreement, either party can terminate the exclusivity provisions after five weeks and four days with one week’s notice. As of March 27, 2023, the Consortium has submitted a revised conditional and non-binding proposal, the revised Proposal is at a price of AUD 8.912 cash per share. Transaction is subject to completing due diligence and Consortium can conduct due diligence to enable it to put forward a binding proposal. Due diligence is expected to complete within eight weeks. Transaction is also conditional upon the Consortium will enter into a binding scheme implementation agreement on mutually agreed terms with Origin, approvals by the Australian Competition and Consumer Commission and Foreign Investment Review Board and Origin board and shareholder approvals. if the Consortium makes a binding offer at AUD 9.00 cash per share, then it is the current intention of the Origin Board to unanimously recommend that shareholders vote in favour of the proposal, in the absence of a superior proposal. On November 10, 2022, the Board notes that there is no certainty at this stage that the Indicative Proposal and engagement between Origin and the Consortium will progress to a binding proposal for consideration by shareholders. At this stage, shareholders do not need to take any action. Transaction expects intervention by Prime Minister Anthony Albanese in the domestic gas market, saying it understands the federal government is under huge pressure to deliver price relief for local users. Brookfield bid for Origin Energy may have to ringfence its transmission company AusNet Services - or in the worst case sell its stake - to win the approval of the competition watchdog if the deal gets the nod from the board and shareholders. The Board will continue to update shareholders. As of November 24, 2022, the transaction us under review of ACCC. As of December 21, 2022, Origin has agreed to extend the Consortium’s exclusivity to January 16, 2023, to enable it to finalize its due diligence with a view to signing binding transaction documents as soon as possible thereafter. As of January 17, 2023, Origin has agreed to extend the Consortium’s exclusivity to January 24, 2023. As of February 22, 2023, the due diligence has been completed. As of March 10, 2023, the binding deal is expected to be finalised in the next week. On April 14, 2023, Brookfield and EIG have started the formal process to seek approval from the competition watchdog to make a filing to the Australian Competition and Consumer Commission. The ACCC will provide feedback during the initial process and Brookfield and EIG will then have 10 business days to submit their formal application. A consortium comprising Brookfield Renewable Partners together with its institutional partners and global institutional investors GIC and Temasek, and MidOcean Energy (MidOcean), an LNG company formed and managed by EIG, has lodged its application for merger authorization with the Australian Competition and Consumer Commission in relation to its proposed acquisition of Origin Energy. The consortium expects the ACCC will advise its decision after 90 days following a process of seeking industry and other stakeholder feedback on the Proposed Transaction. The consortium's application sets out the consortium's view as to why the authorization application should be approved. As of September 21, 2023, EIG Partners has offered an undertaking to the competition regulator that it would not share sensitive information about LNG marketing. ACCC again delayed the date for its ruling on whether to allow the takeover by Brookfield and EIG. It secured approval from the bidders last Friday to defer the decision by two weeks until October 12, 2023. As on October 10, 2023, Australian Competition and Consumer Commission has conditionally approved the acquisition. The transaction remains subject to the satisfaction of outstanding conditions, including additional regulatory approvals by the Foreign Investment Review Board, National Offshore Petroleum Titles Administrator and certain other foreign investment approvals. As of October 13, 2023, the transaction has been approved by the Australian Competition and Consumer Commission. The supreme court has approved the distribution of scheme booklet and convening of scheme meeting. The scheme meeting will be held on November 23, 2023. The scheme is expected to be effective on November 28, 2023. As of November 21, 2023 The Origin Board continues to unanimously recommend that shareholders vote in favor of the Scheme. Barrenjoey Advisory Pty Limited and Jarden Australia Pty Limited acted as financial advisor and Rebecca Maslen-Stannage, Mia Harrison-Kelf, Danielle Farrell, Linda Evans, Stephanie Panayi, Gila Segal, Elizabeth Charlesworth, Gabby Heron-Cartwright, Robert Merrick, Mary-Rose Bright, Kwok Tang of Herbert Smith Freehills acted as legal advisor to Origin Energy. JPMorgan acted as financial advisor to Brookfield Global and MidOcean Energy, LLC in transaction. White & Case LLP acted as legal advisor to MidOcean Energy. JPMorgan's the sixth investment bank involved in Origin Energy's deal. Citi, MUFG and UBS acted as financial advisor of Brookfield Global in transaction. Grant Samuel as the independent expert and pricewaterhousecoopers acted as tax advisor to origin. Brookfield Global Transition Fund I managed by Brookfield Asset Management Inc. (TSX:BAM.A) along with MidOcean Energy, LLC, GIC Private Limited and Temasek Holdings (Private) Limited cancelled the acquisition of Origin Energy Limited (ASX:ORG) from The Vanguard Group, Inc., Australian Super Pty Ltd and others on December 4, 2023. While the scheme will not proceed, it was supported by many Origin shareholders. Importantly, this process has made clear the confidence all shareholders have in Origin’s business, assets and people, and its strategic positioning for the energy transition.

Electric Utilities Industry Growth	6.28%
Revenue growth rate	4.82%
Return on equity	15.53%
Net Margin	10.08%
Next Earnings Update	30 Oct 2026

Date	Revenue	Earnings	G+A Expenses
30 Jun 26	15,612	1,574	1,045
31 Mar 26	16,046	1,298	1,062
31 Dec 25	16,480	1,021	1,079
30 Sep 25	16,875	1,251	1,109
30 Jun 25	17,269	1,481	1,139
31 Mar 25	17,117	1,450	1,159
31 Dec 24	16,965	1,419	1,179
30 Sep 24	16,574	1,408	1,169
30 Jun 24	16,183	1,397	1,159
31 Mar 24	15,971	1,524	1,104
31 Dec 23	15,759	1,651	1,049
30 Sep 23	16,143	1,353	988
30 Jun 23	16,526	1,055	927
31 Mar 23	16,674	78	861
31 Dec 22	16,821	-899	795
30 Sep 22	15,694	-1,164	761
30 Jun 22	14,567	-1,429	726
31 Mar 22	13,578	-1,829	720
31 Dec 21	12,588	-2,229	713
30 Sep 21	12,364	-2,255	710
30 Jun 21	12,140	-2,281	707
31 Mar 21	12,319	-1,593	732
31 Dec 20	12,504	-699	757
30 Sep 20	12,838	-308	757
30 Jun 20	13,171	83	756
31 Mar 20	13,498	549	741
31 Dec 19	13,824	1,014	725
30 Sep 19	14,289	1,113	726
30 Jun 19	14,753	1,211	727
31 Mar 19	14,890	1,212	717
31 Dec 18	15,027	1,212	707
30 Sep 18	14,824	746	709
30 Jun 18	14,620	280	711
31 Dec 17	14,832	-810	379
30 Sep 17	14,239	-1,431	190
30 Jun 17	13,646	-2,052	0
31 Dec 16	11,912	-1,482	53
30 Sep 16	11,684	-895	53
30 Jun 16	11,456	-309	53
31 Dec 15	11,505	-651	16
30 Sep 15	11,699	-584	23

Data	Last Updated (UTC time)
Company Analysis	2026/09/09 16:24
End of Day Share Price	2026/09/09 00:00
Earnings	2026/06/30
Annual Earnings	2026/06/30

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

Analyst	Institution
Uwan Minogue	Barrenjoey Markets Pty Limited
Cameron Needham	BofA Global Research
Suppata Srisuk	Bualuang Securities PCL

Origin Energy Past Earnings Performance

Past criteria checks 3/6

Key information

Recent past performance updates

Origin Energy Limited to Report Q3, 2026 Results on Apr 30, 2026

Origin Energy Limited to Report Q1, 2025 Results on Oct 31, 2024

Origin Energy Limited to Report Q1, 2024 Results on Oct 31, 2023

Origin Energy Limited to Report Fiscal Year 2023 Results on Aug 17, 2023

Recent updates

Origin Energy Limited Announces Fully Franked Final Dividend for the Six Months Ended June 30, 2026, Payable on October 2, 2026

Origin Energy Limited, Annual General Meeting, Oct 14, 2026

Origin Energy Limited Announces Fully Franked Ordinary Dividend for the Six Months Period Ended December 31, 2025, Payable on March 27, 2026

Origin Energy Limited Updates Production Guidance for the Fiscal Year 2026

Origin Energy Limited to Report Q3, 2026 Results on Apr 30, 2026

Origin Energy Limited, Annual General Meeting, Oct 15, 2025

Origin Energy Limited Provides Production Guidance for the Fiscal Year 2025

Origin Energy Limited Announces Changes to Its Board

Origin Energy Limited Announces Ordinary Fully Paid Dividend for the Six Months Ended June 30, 2024, Payment Date of September 27, 2023

Origin Energy Limited Announces Chief Financial Officer Changes

Origin Energy Limited (ASX:ORG) acquired Walcha Energy.

Origin Energy Limited Announces Retirement of Lawrie Tremaine as Chief Financial Officer at the End of July 2024

Origin Energy Limited to Report Q1, 2025 Results on Oct 31, 2024

Bidders Reportedly Down Pens on Origin, Regroup in 2024

Origin Vows to Go Green, Bid or No Bid

Australian Super Rejects a Seat at The Transaction Table

Brookfield, EIG Reportedly Planning to Launch Hostile Bid for Origin

Australian Super Pty Ltd Rejected The Opportunity to Join Brookfield and EIG.

Origin Energy Shareholder Rejects Fresh Brookfield $10.5 billion Bid

Origin Energy Limited Announces Ordinary Fully Paid Dividend for the Six Months Ended June 30, 2023, Payment Date of September 29, 2023

Origin Energy Limited Announces Dividend for A Period of Six Months Ended December 31, 2022

Origin Energy Limited to Report Q1, 2024 Results on Oct 31, 2023

Origin Energy Limited Revises Production Guidance for the Fiscal Year 2023

Origin Energy Limited to Report Fiscal Year 2023 Results on Aug 17, 2023

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