News and announcements

MEMORANDUM To: Market Participants From: NZX Client and Market Services Date: 5 December 2013 Subject: Stand in the Market – On-market buyback in Infratil Limited (“IFT”) ordinary shares Message: NZXR

5 December 2013 NZX Regulation Announcement Infratil Limited (“IFT”) Trading Halt of Securities Lifted NZX Regulation (“NZXR”) advises that, following the completion of the on-market buyback of 24.8 million IFT

The results of the on –market buyback conducted by Infratil Limited today are as follows: Class of security: Ordinary shares ISIN: NZIFTE0003S3 Number of shares acquired: 24.8 million ordinary shares

Infratil Limited's on market buyback has now commenced. Please see NZX's announcement of 28 November 2013 for details. Kevin Baker Chief Financial Officer

Infratil Limited confirms that the maximum price for the on-market buyback commencing at 12:00pm (NZ time) today is NZ$2.60 per share, as set out on the terms of the buyback

MEMORANDUM To: Market Participants From: NZX Client and Market Services Date: 5 December 2013 Subject: Stand in the Market – On-market buyback in Infratil Limited (“IFT”) ordinary shares Message: Following