ASX RELEASE ACCC confirms it does not propose to object to AGL's acquisition of Australian Power & Gas AGL declares share offer unconditional and announces accelerated payment terms

Sydney, 12 September 2013

Australian Power and Gas Company Limited (ASX: APK) is pleased to announce that it has been informed by AGL Energy Limited and APG Holdings Pty Limited (AGL) that on 12 September 2013
AGL has received written confirmation from the Australian Competition and Consumer Commission
(ACCC) that it does not propose to object to AGL's proposed acquisition of Australian Power & Gas.
As a result, AGL has also notified Australian Power & Gas that its Share Offer (as outlined below) is free from the ACCC Condition and all other defeating conditions. In addition, AGL have confirmed that it will accelerate payment to APG shareholders who accept the Share Offer by despatching cheques no later than five business days after receipt of their valid acceptance.
Australian Power & Gas is pleased with the progress of the Share Offer, and continues to support
and recommend that Australian Power & Gas shareholders accept the Share Offer, in the absence of any superior proposal.
AGL made an offer on 15 July 2013 for all of the shares of Australian Power & Gas (Share Offer). The Bidder's Statement in respect of the Share Offer was released to ASX and despatched to Australian Power & Gas shareholders on 8 August 2013. AGL also made an off