• Macquarie Conference presentation includes update on AGL's FY26 guidance
• Continued growth in flexible asset portfolio, including Liddell and Tomago batteries
• Western Australia market provides opportunity to scale Perth Energy presence

AGL Energy's Managing Director & Chief Executive Officer, Damien Nicks, presented at the Macquarie Australia conference, providing an update on the company's FY26 guidance. The presentation highlighted AGL's continued growth in its flexible asset portfolio, including the commissioning of the first 250-megawatt tranche of the Liddell Battery in New South Wales and the construction progress on the 500-megawatt Tomago Battery. AGL has also taken a final investment decision on the K2 project, a 220-megawatt, fast start gas peaker in Western Australia. The company expects to receive approximately $750 million in proceeds from the sale of its 19.9% interest in Tilt Renewables by the end of May. Operationally, AGL's generation fleet has continued to perform well, with a year-to-date Fleet Equivalent Availability Factor of 83.2% for the nine months to 31 March. The presentation also focused on the market dynamics, with the company highlighting the strong and durable longer-term tailwinds for electricity demand, driven by factors such as data centre expansion, electrification, and EV load. While the current NEM market conditions remain finely balanced, particularly during periods of peak demand, AGL's growing flexible portfolio is well positioned to monetize rising peak demand. The company also discussed the opportunities in the Western Australian market, where the combination of rising structural demand, committed thermal exits, and a transparent and supportive capacity mechanism creates an attractive environment for AGL to scale its Perth Energy presence and diversify its earnings beyond the East Coast.

AGL has narrowed its FY26 guidance ranges, though specific details were not provided in the announcement.