1 Contents Introduction 1 Divisional Highlights 2 Group Highlights 3 About AGL 4 Our Integrated Strategy 5 Chairman’s Report 6 Managing Director’s Report 8 Sustainable Business Strategy 10 Economic 12 Customers 14 Community 16 People 18 Climate Change 20 Environment 22 Review of Operations 24 Retail Energy 24 Merchant Energy 26 Investments 29 Upstream Gas 30 Leadership Team 32 Corporate Governance 33 Reporting Contents 41 25 August  2011 2011 full year result  and final dividend  announced 2 September  2011 Ex-dividend trading  commences 8 September  2011 Record date for 2011  fi nal dividend 29 September  2011 Final dividend payable 27 October  2011 Annual General  Meeting 22 February  2012 1 2012 interim result  and interim dividend  announced 22 August  2012 1 2012 full year result  and final dividend  announced AGL Financial Calendar AGL’s Annual General Meeting  will be held at the Grand Hyatt,  123 Collins Street, Melbourne  commencing at 10.30am on  Thursday 27 October 2011. 1 Indicative dates only, subject to change/ Board confi rmation