Capital Change Notice – Issue under Management Agreement

Section 1: Issuer information
Name of issuer Infratil Limited
NZX ticker code IFT
Class of financial product Fully paid ordinary shares
ISIN (If unknown, check on NZX website) NZIFTE0003S3
Currency NZD
Section 2: Capital change details
Number issued/acquired/redeemed 6,286,441
Nominal value (if any) Not applicable
Issue/acquisition/redemption price per security $9.54435034
Nature of the payment (for example, cash or other
consideration)
Cash
Amount paid up (if not in full) Not applicable
Percentage of total class of Financial Products
issued/acquired/redeemed/ (calculated on the number of
Financial Products of the Class, excluding any Treasury
Stock, in existence)
0.87%
For an issue of Convertible Financial Products or Options,
the principal terms of Conversion (for example the
Conversion price and Conversion date and the ranking of
the Financial Product in relation to other Classes of
Financial Product) or the Option (for example, the exercise
price and exercise date)
Not applicable
Reason for issue/acquisition/redemption and specific
authority for issue/acquisition/redemption/ (the reason for
change must be identified here)
Issue of ordinary shares to partially
pay the incentive fees payable to
Morrison & Co Infrastructure
Management Limited as
consideration for management
services, as announced on 22 May
2023 and authorised by board
resolution dated 19 May 2023.
Total number of Financial Products of the Class after the
issue/acquisition/redemption/Conversion (excluding
Treasury Stock) and the total number of Financial
Products of the Class held as Treasury Stock after the
issue/acquisition/redemption.
730,270,023

Treasury Stock: 1,662,617
In the case of an acquisition of shares, whether those
shares are to be held as treasury stock
Not applicable
Specific authority for the issue, acquisition, or redemption,
including a reference to the rule pursuant to which the
issue, acquisition, or redemption is made
The securities issue is made
pursuant to NZX Listing Rule 4.1.1,
and has received approval by

ordinary resolution of Infratil’s
shareholders at the AGM on 25
August 2022 and by board
resolution dated 19 May 2023.
Terms or details of the issue, acquisition, or redemption
(for example: restrictions, escrow arrangements)
Issue of ordinary shares which
rank equally with all other fully
paid ordinary shares in Infratil
Limited.
Date of issue/acquisition/redemption 29 May 2023
Section 3: Authority for this announcement and contact person
Name of person

authorised to make this announcement
Phillippa Harford, Chief Financial
Officer
Contact person for this announcement
Phillippa Harford, Chief Financial
Officer
Contact phone number +64 4 473 3663
Contact email address Phillippa.Harford@hrlmorrison.com
Date of release through MAP

29 May 2023