Part 1
"You agree that EA may collect, use, store and transmit technical and related information that identifies your computer (including the Internet Protocol Address), operating system, Application usage (including but not limited to successful installation and/or removal), software, software usage and peripheral hardware, that may be gathered periodically to facilitate the provision of software updates, dynamically served content, product support and other services to you, including online services."
Nothing revolutionary here, a bunch of programs do this, and a lot of games too. They want to know what my IP address is, what sort of system, including hardware identification that im running, they want to know which pieces of software I have installed so they can then market to me better, and they want to know which software I use most. All of this is designed to help them advertise to me, provide support such as technical support, where an EA representative might be able to easily identify my system and help me troubleshoot, to know where things go so that the program can effectively update, and other such things. Nothing disgusting here, its all typical.
Part 2
"EA may also use this information combined with personal information for marketing purposes and to improve our products and services. We may also share that data with our third party service providers in a form that does not personally identify you."
This part is just telling me what all other Electronic Arts EULA's tell me. When I register with Origin I am giving them my name, address, and other types of personal information to be a part of it. They will then use this information to send me magazine subscriptions, news letters, coupons, or more likely, emails.
The other sentence tells me that they want to be able to share this information with their third party providers, since there is a lot of hands that go into making these games. But the info shared with them wont be personally identifiable, which means I wont be getting advertising from a million different companies. Again, nothing here that's privacy obstructing in any way.
Part 3
"IF YOU DO NOT WANT EA TO COLLECT, USE, STORE, TRANSMIT OR DISPLAY THE DATA DESCRIBED IN THIS SECTION, PLEASE DO NOT INSTALL OR USE THE APPLICATION. This and all other data provided to EA and/or collected by EA in connection with your installation and use of this Application is collected, used, stored and transmitted in accordance with EA’s Privacy Policy located at
www.ea.com. To the extent that anything in this section conflicts with the terms of EA’s Privacy Policy, the terms of the Privacy Policy shall control."
This is telling me to say no if I don't want Origin to collect data, but, if I do agree, then all the information collected abides by the Electronic Arts Privacy Policy on their primary page, and if any information is collected which violates that Privacy Policy, then it shall be the ruling document on the proceedings. The EA Privacy Policy is again, something you've already agreed to elsewhere most likely, and again, there is nothing here that seems out of line.