On 1 August 2022, Infratil and its co-investors in Longroad Energy, the NZ Super Fund and the Longroad Energy management team, announced that MEAG, acting as the asset management arm for entities of Munich Re, had agreed to invest US$300 million to acquire a 12% stake in Longroad and Infratil and the NZ Super Fund would each invest a further US$100 million and retain a ~37% stake, subject to certain conditions.

The conditions for the transaction have now been met, and completion has occurred.

Infratil looks forward to continuing to work with the Longroad team, the NZ Super Fund and MEAG to support the ongoing success of the business.

Investor enquiries should be directed to:

Mark Flesher

Investor Relations

Email: mark.flesher@infratil.com