Infratil Limited (Infratil) earlier today announced that following the successful bookbuild process of its issue of 7½ year unsecured, unsubordinated, fixed rate infrastructure bonds maturing on 17 December 2031 (New Bonds), it has allocated $175,000,000 of New Bonds (including $100,000,000 of oversubscriptions) through the Firm Offer process. The Firm Offer has now closed.

Infratil now announces that the Interest Rate for the New Bonds has been set at 7.06% per annum. This is equal to the sum of the Issue Margin of 2.40% per annum and the Base Rate on the Rate Set Date of 4.66% per annum.

The New Bonds under the Firm Offer will be issued on 17 June 2024. The New Bonds will be quoted on the NZX Debt Market under the ticker code IFT350.

Additional New Bonds will be offered to existing holders of the IFT230 bonds maturing on 15 June 2024 via an Exchange Offer opening on 31 May 2024.

Details of the offer are contained in the updated Terms Sheet attached.

Arranger and Joint Lead Manager:

Bank of New Zealand

Joint Lead Managers:

ANZ Bank New Zealand Limited

Craigs Investment Partners Limited

Forsyth Barr Limited Jarden Securities Limited

Tom Robertson

Infratil Treasurer

Phone: +64 4 550 5432

Email: tom.robertson@infratil.com