Memorandum

To: Market Participants

From: NZX Product Operations

Date: Wednesday, 29 November 2023

Subject: Infratil Limited (“IFT270”) bonds – Trading Halt

Message:

NZX Operations (“NZXO”) advises that the interest rate on the Infratil Limited infrastructure bonds due 15 December 2028 ("IFT270") will reset on 15 December 2023. The interest rate on IFT270 for the period from (but excluding) 15 December 2023 until the Maturity Date will be the sum of the Five Year Swap Rate on 15 December 2023 plus a margin of 2.50% per annum.

In order to update the reset date in NZX systems, NZXO will place an operational trading halt on IFT270 from market close on Friday, 1 December 2023. The operational trading halt will be lifted at close of business on Friday, 15 December 2023.

A timetable of events is attached.

Please contact NZX Product Operations on +64 4 496 2853 or productoperations@nzx.com with any queries.

ENDS