Agreement Sell ANU Student Accommodation concession to AMP

Infratil Limited 5 Market Lane, PO Box 320, Wellington, New Zealand Tel +64-4-473 3663 www.infratil.com




1 April 2019



Agreement to Sell ANU Student Accommodation concession to AMP Capital


Infratil is pleased to announce a conditional sale of its 50% interest in the Australian National
University’s (“ANU”) Purpose Built Student Accommodation (“PBSA”) concession (the “Portfolio”) to
funds controlled by AMP Capital. The agreement is conditional on counterparty consents. Subject to
satisfaction of these conditions, completion of the transaction is expected to be in mid-April 2019.

On completion of the transaction, Infratil expects to receive cash proceeds of approximately A$162
million, with final proceeds adjusted for normal working capital.

“We continue to believe that the ANU portfolio is the standout portfolio in the on-campus PBSA sector
in Australia in terms of both scale and quality. However, the broader platform that Infratil intended to
develop using the ANU portfolio as a cornerstone has not eventuated. This conditional sale
agreement enables ANU to continue to grow its student accommodation offering under new
ownership and allows Infratil to focus its investments on its established platforms targeting renewable
energy, retirement services, and growth in data and connectivity” said Morrison & Co executive Mark
Mudie.

Any enquiries should be directed to:

Mark Flesher, Investor Relations, Infratil Limited
mark.flesher@infratil.com


Background

ANU Portfolio

Infratil acquired the Portfolio from ANU in 2016 and announced a strategic review of its investment in
October 2018. Since acquisition, the Portfolio has been successfully transitioned to private sector
facilities management and expanded to include an additional 450 bed residence in response to
significant unmet demand from students.