AGL Energy Limited (AGL) has successfully completed the issue of fully paid ordinary shares following the entitlement offer announced on Thursday, 24 May 2012 (Entitlement Offer).

AGL has issued 46,757,780 new shares under the retail component of the Entitlement Offer, raising net proceeds of approximately $532 million. These shares commence trading on the ASX on Monday 2 July 2012.

The number of AGL shares on issue prior to the issue of shares referred to above was 499,103,303. Following this issue, the number of AGL shares on issue is 545,861,083.

The dispatch of holding statements will be completed today.

The retail premium of $2.90, for holders of retail entitlements at the close of the Retail Entitlement Offer which were not taken up, and shareholders that were ineligible to participate in the Entitlement Offer, is expected to be paid on or about Tuesday, 3 July 2012.

Shareholder Enquiries

Shareholders who have questions relating to the Entitlement Offer should call the AGL Offer Information line on 1800 824 513 (within Australia) or +61 2 8280 7115 (outside Australia) from 8.30am to 5.30pm (Sydney time) Monday to Friday or go to our website www.agl.com.au.

About AGL

AGL is one of Australia's leading integrated energy companies and is taking action toward creating a sustainable energy future for our investors, communities and customers. Drawing on over 170 years of experience, AGL operates retail and merchant energy businesses, power generation assets and an upstream gas portfolio. AGL has one of Australia's largest retail energy and dual fuel customer bases. AGL has a diverse power generation portfolio including base, peaking and intermediate generation plants, spread across traditional thermal generation as well as renewable sources including hydro, wind, landfill gas and biomass. AGL is Australia's largest private owner and operator of renewable energy assets and is looking to further expand this position by exploring a suite of low emission and renewable energy generation development opportunities.