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

Final buyback price: NZ$2.38 per share

Date acquired: 5 December 2013

Payment: In cash

Percentage of the total class of securities issued (after the acquisition): 4.42%

Reason for the acquisition: As per announcement on 15 November 2013

Specific authority for the acquisition: Shareholder approval dated 15 August 2011 and board resolution dated 12 November 2013

Total number of ordinary shares in existence after the acquisition: 586,731,916

Total number of ordinary shares in existence after acquisition and deduction of treasury stock: 561,434,511

Treasury stock: Shares acquired will be held as treasury stock.

All offers at the final buyback price will be scaled in accordance with the terms of the on-market buyback announced on 15 November 2013.

Shareholders who offered shares are expected to be notified of their final participation in the buyback by their NZX participant share broker from 6 December 2013.

Settlement will take place on 10 December 2013.

Kevin Baker
Chief Financial Officer