AGKHA - ASX Circular- Subordinated Notes Deferred Settlement

On 28 February, 2012, AGL Energy announced an offer of dated, subordinated, cumulative and unsecured notes. Please refer to the replacement prospectus dated 8 March, 2012 for information regarding the terms of issue of the notes.

About AGL

AGL is one of Australia's leading integrated renewable energy companies and is taking action toward creating a sustainable energy future for our investors, communities and customers. Drawing on 175 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.