Dividend Reinvestment Plan

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

16 November 2023


Dividend Reinvestment Plan


Infratil today announced a partially imputed interim dividend of 7.00 cents per share and the
application of the Dividend Reinvestment Plan (‘DRP’), details of which were set out in the
Distribution Notice.

The timetable for the DRP is:

Event Date
FY2023 Interim Results release Today
Ex-Date for Dividend 29 November
Record Date 30 November
Last Date to submit a participation notice 1 December
Start date for determining market price for DRP 4 December
End date for determining market price for DRP 15 December
Strike Date 18 December
Share Issue Date/Dividend Payment Date 19 December
Allotment announcement 19 December


A copy of the DRP Offer Document and the ASX Appendix 3A.1 are attached.


Enquiries should be directed to:

Mark Flesher

Investor Relations
mark.flesher@hlrmorrison.com


About Infratil:

Launched in 1994, Infratil Limited is a New Zealand headquartered, global infrastructure
investment company (NZX: IFT, ASX: IFT). Infratil’s purpose is to invest wisely in ideas that
matter and, in doing so, create long-term value for shareholders. It invests in renewables,
digital infrastructure, healthcare and airports, with operations in New Zealand, Australia,
Europe, Asia and the United States. With group assets currently in excess of NZ$12 billion,
Infratil targets returns to shareholders of 11-15% p.a. over the long-term.

For more information, visit www.infratil.com and LinkedIn.

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1
1
1 November 2021
Infratil Limited
Dividend Reinvestment Plan
Offer Document

Infratil Dividend
Investment Plan
1
This is an important document. You should read the whole
document before making any decisions. If you have any doubts
as to what you should do, please consult your broker, financial,
investment or other professional advisor.
Infratil Limited (Infratil) has established a Dividend Reinvestment
Plan (
DRP) which offers you the opportunity to reinvest dividends
received on some or all of your existing Shares into Additional
Shares free of brokerage charges. DRPs are fairly common across
listed companies and provide an opportunity for shareholders to
grow their investment in a company
. Participation in this Plan is
completely optional.
This Offer Document explains how the Plan works.
Capitalised terms used in this Offer Document have the
meaning set out in the Definitions on page 6.
KEY FEATURES
Shares instead of Dividends
The Plan gives you the opportunity to reinvest the net proceeds
of cash dividends payable or credited on your Shares in
Additional Shares. This provides an opportunity for you to
increase your investment in Infratil free of brokerage charges.
E
ligibility
You are eligible to participate in the Plan if, as at 5:00pm on the
Record Date:
•you hold Shares; and
•you are r
esident in New Zealand or Australia; and
•
you either hold your Shar
es directly or hold your Shares
indirectly through a nominee whose address is recorded in
Infratil’s share register as being in New Zealand or Australia.
If you do not satisfy the criteria above Infratil reserves the right to
otherwise determine, in its absolute discretion, that you are
eligible to participate.
Full or Partial Participation
You can choose to participate in the Plan in respect of some or
all of your Shares. Your participation in the Plan will apply from
the first Record Date which occurs after your Participation
Election is received or, if your Participation Election is received
after a Record Date but before 5:00pm on an Election Date
(being the first trading day after that Record Date or such later
date as may be set by the Board and advised to NZX and ASX),
from the Record Date immediately preceding that Election Date.
Participation in the Plan is optional. If you do not wish to
participate in the Plan, you do not need to do anything. If you do
not participate in the Plan you will continue to receive cash
dividends paid on all of your Shares.
If you change your mind at a later date and wish to participate in
the Plan, you can do so by:
•
making your Par
ticipation Election online at:
-
https://investorcentre.linkmarketservices.co.nz (for holders
on the New Zealand register); or
-https
://investorcentre.linkmarketservices.com.au (for
holders on the Australian register); or
•
completing a Participation Notice and returning it to the Share
Registrar.
Joining, Variation and Withdrawal Arrangements
You can choose to participate in the Plan, vary your
participation, or withdraw from the Plan at any time. Any
variation or withdrawal will take effect on the first Record Date
after receipt of your new Participation Election or written
termination notice or, if your new Participation Election or written
termination notice is received after a Record Date but before
5:00pm on an Election Date (being the first trading day after that
Record Date or such later date as may be set by the Board and
advised to NZX and ASX), from the Record Date immediately
preceding that Election Date.
Application of the Plan
The Board retains a discretion to determine that the Plan will not
apply to a particular dividend, or will not apply to some of a
particular dividend (rather than all), with the result being that all
or the relevant proportion (and also taking into account any
partial participation in the Plan) of that dividend will be paid in
cash instead of the Plan applying.
Issue Price
Additional Shares will be issued or transferred under the Plan at
the Strike Price. The Strike Price will be calculated as the volume
weighted average sale price for a Share based on all trades of
Shares on the NZX Main Board over a period of 10 trading days
commencing on and including the first trading day after the
Election Date, subject to adjustment to the Strike Price by Infratil
for any exceptional or unusual circumstances and less any
discount determined by the Board. Any discount will be
announced by Infratil no later than 10 trading days prior to the
relevant Record Date. The Board may adjust the period over
which the Strike Price is calculated in its discretion (and any such
adjustment will be advised to NZX and ASX no later than 10
trading days prior to the relevant Record Date).

Shares Rank Equally
Additional Shares issued or transferred under the Plan will rank
equally in all respects with each other and with all other Shares
on issue at that date.
Financial Markets Conduct Act
The offer of Additional Shares under the Plan is being made in
reliance on clause 10 of Schedule 1 of the Financial Markets
Conduct Act 2013.

Terms and conditions
1 Introduction
This Offer Document contains the terms and conditions of
the Infratil Dividend Reinvestment Plan.
The Plan is available to you (“you”) if, subject to clauses 3
and 5, you are the holder of Shares.
Under the Plan, you may elect to reinvest the net proceeds
of cash dividends payable or credited on all or some of your
fully paid Shares by acquiring Additional Shares.
The Record Date for determining your entitlement to
Additional Shares under the Plan is 5:00pm on the date
fixed by Infratil for determining entitlements to dividends
payable or credited on Shares.
This Offer Document has been prepared as at
11 November 2021.
2 Available Options
You may elect to participate in the Plan by exercising one of
the following options:
(a)Full Participation - If you choose full participation, the
Plan will apply to the cash dividends payable or
credited from time to time in respect of all Shares
registered in your name on the Record Date.
(b)
Partial Participation – If you choose partial
participation, the Plan will only apply to the cash
dividends payable or credited from time to time in
respect of your nominated percentage (%) of Shares
registered in your name on the Record Date.
If you do not wish to participate in the Plan and instead
wish to receive any dividends payable or credited in respect
of your Shares from time to time in cash, you do not need to
do anything.
3 Overseas Shareholders
3.1 Subject to clause 3.2, as at the date of this Offer Document,
you are eligible to participate in the Plan if, as at 5:00pm on
the Record Date:
(a)
you hold Shar
es; and
(b)
you ar
e resident in New Zealand or Australia; and
(c)
you either hold your Shares directly or hold your Shares
indirectly through a nominee whose address is recorded
in Infratil’s share register as being in New Zealand or
Australia.
If you do not satisfy the criteria above Infratil reserves the
right to otherwise determine, in its sole discretion, that you
are eligible to participate.
However, the Board may amend this policy at any time, in its
sole discretion.
3.2
Infratil may, in its absolute discretion, elect not to offer
participation in the Plan to shareholders who are outside
New Zealand if Infratil considers that to do so would risk
breaching the laws of any other jurisdiction and it would be
unduly onerous to ensure that the laws of those jurisdictions
are complied with.
3.3 If you ar
e outside of New Zealand or any other jurisdiction in
respect of which the Plan is made available and you
participate in the Plan through a nominee that is resident in
New Zealand and has a registered address in New Zealand
or any other such jurisdiction, you will be deemed to
represent and warrant to Infratil that you can lawfully
participate through your nominee. Infratil accepts no
responsibility for determining whether any person is able to
participate in the Plan under laws applicable outside of
New Zealand or any other jurisdiction in respect of which the
Plan is made available.
4 Death of Participant
4.1 If a Participant dies, participation by that Participant will
cease upon receipt by Infratil’s Share Registrar of a notice of
death in a form acceptable to Infratil.
4.2 Death of one of two or more joint participants will not
automatically terminate participation by the remaining joint
participant(s).
5 Exclusion where Liens or Charges over Shares
If you hold any Shares over which Infratil has a lien or
charge, those Shares will not be eligible to participate in the
Plan.
6 Participation Election
6.1 To participate in the Plan you must make a Participation
Election in one of the following ways:
(a)
Online Election – By visiting the website of Infratil’s Share
Registrar, Link Market Services:
Holders on the New Zealand Register: https://
investorcentre.linkmarketservices.co.nz.
Select “IFT – INFRATIL LIMITED” as the issuer from the
dropdown box on the page. You will be required to enter
your CSN/Holder Number and FIN before you can make
2

your Participation Election. Once you have entered
these details, you should click “Payment and Tax”, then
“Reinvestment Plans”, and tick the applicable box to
participate in the Plan. If you make an online election,
you will be required to confirm that you have read,
understood and complied with the terms and conditions
of the Plan. Joint and corporate shareholders will need
to register a portfolio to update their participation
election.
Holders on the Australian Register: https://
investorcentre.linkmarketservices.com.au
S
elect “IFT – INFRATIL LIMITED” as the issuer from the
dropdown box on the page. You will be required to enter
your Holder Number and postcode before you can make
your Participation Election. Once you have entered
these details, you should click “Payment and Tax”, then
“Reinvestment Plans”, and tick the applicable box to
participate in the Plan. If you make an online election,
you will be required to confirm that you have read,
understood and complied with the terms and conditions
of the Plan. Joint and corporate shareholders will need
to register a portfolio to update their participation
election;

OR
(b)Participation Notice – By completing the enclosed
Participation Notice which accompanies this Offer
Document and returning it to Infratil’s Share Registrar in
one of the following manners:
Mail
Link Mark
et Services Limited
PO Box 91976
Auckland 1142
Ne
w Zealand
S
can and email
operations@linkmarketservices.co.nz
Fax
+6
4 9 375 5990
or s
uch other person or address as Infratil may
determine from time to time.
6.2

Y
ou can make your Participation Election at any time while
this Plan is in effect by following one of the steps in clause
6.1. Participation Notices can be obtained from Infratil’s
Share Registrar at any time.
6.3
If y
our Participation Election does not specify your degree of
participation in the Plan, you will be deemed to have
chosen full participation (if your Participation Election is
otherwise correctly completed and signed).
7 Participation Applies from First Election Date
Net proceeds of cash dividends payable or credited on your
Participating Shares will be reinvested in Additional Shares
from the first Record Date which occurs after receipt by
Infratil of a properly completed Participation Election or, if
your Participation Election is received after a Record Date
but before 5:00pm on an Election Date, from the Record
Date immediately preceding that Election Date.
8 Formula for Calculation of Additional Shares and
Strike Price
8.1 If you choose to participate in the Plan, the number of
Additional Shares you will be allotted or transferred will be
calculated in accordance with the following formula:
N =
PS x D
Strike Price
Where:
N is the number of Additional Shares you will receive;
PS is the number of your Participating Shares;
D is the net proceeds of cash dividends paid or credited per
Share by Infratil (expressed in cents and fractions of cents,
including any applicable supplementary dividends in
respect of Participating Shares payable to non-resident
shareholders but excluding any tax credits and after
deduction of any withholding or other taxes, if any); and
Strike Price is the volume weighted average sale price in
New Zealand dollars (expressed in cents and fractions of
cents) for a Share calculated on all trades of Shares which
took place through the NZX Main Board over a period of 10
trading days commencing on and including the first trading
day after the relevant Election Date, less any percentage
discount determined by the Board in its absolute discretion.
If no sales of Shares occur during those 10 trading days,
then the volume weighted average sale price will be
deemed to be the sale price for a Share on the last trade of
Shares which took place prior to such trading days as
determined by NZX. The Strike Price may be reasonably
adjusted by Infratil to allow for any bonus issue or dividend
or other distribution expectation. If, in the opinion of the
Board, any exceptional or unusual circumstances (including
any unusual or irregular trades) have artificially affected the
Strike Price, Infratil may make such adjustment to that price
as it considers reasonable. Any percentage discount
determined by the Board shall be notified to NZX and ASX
not later than 10 trading days prior to the relevant Record
Date. The Board may adjust the period over which the Strike
Price is calculated in its discretion (and any such adjustment
will be advised to NZX and ASX no later than 10 trading
days prior to the relevant Record Date).
3

The price at which your Additional Shares will be allotted or
transferred to you will be the Strike Price. The determination
of the Strike Price by the Board, or by some other person
nominated by the Board, will be binding on all participants
in the Plan.
9 Fractional entitlements
9.1 Where the number of Additional Shares you will receive
(calculated in accordance with the formula set out in clause
8.1) is not a whole number, then the number of Additional
Shares you receive will be rounded down to the nearest
whole number of Additional Shares.
9.2

An
y net proceeds of cash dividends paid or credited per
Share by Infratil which are not applied to acquire a part of
Additional Shares (due to the operation of clause 9.1) shall
be held to your order and applied under the Plan on your
behalf the next time the Plan operates. You will not accrue
interest on any such amount held to your order in
accordance with this clause 9.2.
9.3

Should y
ou:
(a)
t
erminate your participation in the Plan; or
(b)
c
ease to be a shareholder of Infratil,
any amount above NZ$5.00, which at the time is held to
your order in accordance with clause 9.2, will be paid in cash
to you on the next dividend payment date. You will not be
paid interest on any such payment. Amounts of NZ$5.00 or
less which are held to your order at that time shall be
forfeited.
10 Compliance with Laws, Listing Rules and Constitution
10.1 If Infratil determines that the allotment or transfer of
Additional Shares under the Plan could breach any
applicable law, the Rules or any provision of the
Constitution, Infratil may, in its sole discretion, withdraw the
Plan, or not allot or transfer any Additional Shares under the
Plan to any shareholder(s) eligible to participate.
10.2

If
, for any reason, Infratil cannot allot or transfer your
Additional Shares, the relevant dividend on your
Participating Shares will be paid or distributed to you in the
same manner as to shareholders not participating in the
Plan. You will not be paid interest on any such payment.
11 Issue or transfer of Additional Shares
11.1 Infratil will:
(a)allot your Additional Shares to you in accordance with
clauses 8 to 10 on the day that you would otherwise
have been paid a dividend; or
(b)
transfer your Additional Shares to you in accordance
with clauses 8 to 10 as soon as reasonably practicable
on or after the day that you would otherwise have been
paid a dividend.
As applicable, depending on the manner in which your
Additional Shares are sourced.
12 Share Price Information Publicly Available
Infratil will ensure that at the time the Strike Price is set
under clause 8.1 it will have no information that is not
publicly available that would, or would be likely to, have a
material adverse effect on the realisable price of the Shares
if the information was publicly available.
13 Terms of Issue and Ranking of Additional Shares
Your Additional Shares will be allotted or transferred to you
on the terms set out in this Plan, subject to the rights of
termination, suspension and modification set out in clause
16. Any new Shares issued or transferred by Infratil for the
purposes of this Plan will, from the date of allotment, rank
equally in all respects with each other and with all other
Shares on issue as at that date.
14 Source of Additional Shares
Your Additional Shares may, at the Board’s discretion, be:
(a)new Shares issued by Infratil;
(b)existing Shares acquired by Infratil or a nominee or
agent of Infratil; or
(c)
any combination of (a) and (b) above.
15 Statements
If you choose to participate in the Plan, Infratil will send a
statement to your address or electronic mail address (if you
have elected to receive communications electronically) as
set out in Infratil’s share register within five trading days of
the allotment or transfer of Additional Shares detailing:
(a)
the number of your Participating Shares as at the
Record Date;
(b)
the amount o
f your cash dividend reinvested in
Additional Shares and the amount paid in respect of any
of your Shares that are not participating in the Plan (if
applicable);
(c)
the Strike Price and number of Additional Shares you
were allotted and/or transferred under the Plan;
(d)
an
y amounts held to your order in accordance with
clause 9.2;
(e)
the amount o
f any tax deductions or withholdings,
imputations or other taxation credits in respect of the
cash dividend; and
(f)such other matters required by law or the Rules with
respect to dividends, reinvestment, the allotment and/or
the transfer of shares.
4

16 Termination, Suspension and Modification
The Board may, in its sole discretion, at any time:
(a)
t
erminate, suspend or modify the Plan. If the Plan is
modified, your Participation Election will be deemed to
be a Participation Election under the modified Plan
unless you withdraw or modify your Participation
Election in accordance with clause 18;
(b)
resolve that some or all of a dividend will be paid in
cash only instead of the Plan applying;
(c)
mak
e a determination in respect of any of the matters
for which the Board is granted discretion under clause
8.1 (which, for the avoidance of doubt, is not a
modification to the Plan which requires notice to be
given to you under clause 17);
(d)
r
esolve that in the event of the subdivision,
consolidation or reclassification of the Shares into one
or more new classes of shares, your Participation
Election will be deemed to be a Participation Election in
respect of the Shares as subdivided, consolidated or
reclassified unless you withdraw or modify your
Participation Election in accordance with clause 18;
(e)
r
esolve that the Plan or any allotment under the Plan
may be underwritten on such terms as may be agreed
between Infratil and an underwriter;
(f)
de
termine that shareholders in specific jurisdictions
outside New Zealand and Australia may participate in
the Plan; or
(g)resolve that your Participation Election will cease to be
of any effect.
17 Prior Notice
You will be sent written notice by Infratil of any modification
or termination to the Plan at your address or electronic mail
address (if you have elected to receive communications
electronically) as set out in Infratil’s share register prior to
the Record Date on which any modification or termination
will take effect, unless Infratil:
(a)
modifie
s or terminates the Plan to comply with any
applicable law, the listing rules of any stock exchange
on which the Shares are quoted or any provision of the
Constitution; or
(b)
makes minor amendments to the Plan where such
amendments are of an administrative or procedural
nature,
in which case no notice need be given.
18 Variation or Termination
You may at any time:
(a)
incr
ease or decrease the number of your Participating
Shares by making a new Participation Election in
accordance with clause 6.1; or
(b)
terminate your participation in the Plan by written
notice to Infratil’s Share Registrar at the address set out
in clause 6.1.
Such variation or termination will take effect on the first
Record Date after receipt by Infratil’s Share Registrar of the
new Participation Election or the written termination notice,
as the case may be or, if your new Participation Election or
written termination notice is received after a Record Date
but before 5:00pm on an Election Date, from the Record
Date immediately preceding that Election Date.
19 Partial Dispositions
If you dispose of any of your Participating Shares, you will
be deemed to have terminated your participation in the
Plan with respect to the Participating Shares you disposed
of from the date Infratil’s Share Registrar registers a transfer
of those Participating Shares.
20 Dispositions of all of your Participating Shares
If you dispose of all of your Participating Shares, you will be
deemed to have terminated your participation in the Plan
from the date Infratil’s Share Registrar registers a transfer of
those Shares.
21 Taxation
For New Zealand tax purposes, if you reinvest the net
proceeds of your cash dividends to acquire Additional
Shares, you should be treated in the same way as if you
had not participated in the Plan. This means that if you
participate in the Plan, you should derive dividend income
of the same amount that you would have derived had you
not participated in the Plan. The taxation summary above
is based on New Zealand taxation laws as at the date of
this Offer Document and is, of necessity, general. It does
not take into account your individual circumstances
and the specific tax consequences of your participation or
non-participation in the Plan, which may vary considerably.
You should not rely on this general summary but should
seek your own tax advice. Infratil does not accept any
responsibility for the financial or taxation effects of your
participation or non-participation in the Plan.
22 Costs
You will not be charged for participation or withdrawal from
the Plan. You will not incur any brokerage charges on the
allotment or transfer of your Additional Shares.
5

23 Rules
The Plan is subject to the Rules and in the event of any
inconsistency between the Plan and the Rules, the Rules
will apply.
24 Governing Law
This Offer Document, the Plan and its operation will be
governed by the laws of New Zealand.
25 Other Information
You can download an electronic copy of Infratil’s most
recent Annual Report (which contains Infratil’s most
recent financial statements and the auditor’s report
on those financial statements) from Infratil’s website at
www.infratil.com.
Alternatively, you can request a copy of these documents
free of charge by writing to Infratil’s registered office at:
Infratil Limited
5 Market Lane
Wellington 6011
New Zealand
Definitions
Additional Shares means the Shares to be issued or transferred
to you pursuant to the Plan.
ASX means ASX Limited.
Board means Infratil’s board of directors.
Business Day has the meaning given to that term in the Rules.
Constitution means Infratil’s constitution.
Election Date means, in respect of each Record Date, the first
trading day after that Record Date or such later date as may be
set by the Board and advised to NZX and ASX.
Ex-Date means, in relation to a dividend, the first Business Day
before the relevant Record Date for that dividend, unless NZX
determines otherwise.
Infratil means Infratil Limited.
NZX means NZX Limited.
NZX Main Board means the main board equity security market
operated by NZX.
Offer Document means this booklet which sets out the terms and
conditions of the Plan.
Participating Shares means the Shares held by you on a Record
Date in respect of which you have made a valid Participation
Election.
Participation Election means your chosen participation in the
Plan, made in one of the ways specified in clause 6.1 of this Offer
Document.
Participation Notice means the form of participation notice
accompanying this Offer Document.
Plan means Infratil’s Dividend Reinvestment Plan established by
the Board on the terms and conditions set out in this Offer
Document, as amended from time to time.
Record Date means 5:00pm on the date fixed by Infratil for
determining entitlements to dividends payable or credited on
Shares.
Rules means the NZX Main Board / Debt Market Listing Rules, the
ASX Listing Rules (to the extent they apply to Infratil as an ASX
Foreign Exempt Listing) and to any rules for clearing and/or
settlement which apply to the NZX Main Board or the ASX from
time to time.
Share Registrar means Link Market Services Limited.
Shares means ordinary shares in Infratil.
Strike Price means the price at which Additional Shares will be
issued or transferred to you, calculated in accordance with
clause 8 of this Offer Document.
6

46

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Notification of dividend / distribution
Notification of dividend / distribution
1 / 7
Announcement Summary
Entity name
INFRATIL LIMITED.
Security on which the Distribution will be paid
IFT - ORDINARY FULLY PAID FOREIGN EXEMPT NZX
Announcement Type
New announcement
Date of this announcement
16/11/2023
Distribution Amount
NZD 0.07522298
Ex Date
29/11/2023
Record Date
30/11/2023
Payment Date
19/12/2023
DRP election date
Friday December 1, 2023 15:00:00
Refer to below for full details of the announcement

Notification of dividend / distribution
Notification of dividend / distribution
2 / 7
Announcement Details
Part 1 - Entity and announcement details
1.1 Name of +Entity
INFRATIL LIMITED.
1.2 Registered Number Type
ARBN
Registration Number
144728307
1.3 ASX issuer code
IFT
1.4 The announcement is
1.5 Date of this announcement
16/11/2023
1.6 ASX +Security Code
IFT
ASX +Security Description
ORDINARY FULLY PAID FOREIGN EXEMPT NZX
Part 2A - All dividends/distributions basic details
2A.1 Type of dividend/distribution
2A.2 The Dividend/distribution:
relates to a period of six months
2A.3 The dividend/distribution relates to the financial reporting or payment period ending ended/ending (date)
30/9/2023
2A.4 +Record Date
30/11/2023
2A.5 Ex Date
29/11/2023
Ordinary
New announcement

Notification of dividend / distribution
Notification of dividend / distribution
3 / 7
2A.6 Payment Date
19/12/2023
2A.7 Are any of the below approvals required for the dividend/distribution before business day 0 of the timetable?
Security holder approval
Court approval
Lodgement of court order with +ASIC
ACCC approval
FIRB approval
Another approval/condition external to the entity required before business day 0 of the timetable for the
dividend/distribution.
2A.8 Currency in which the dividend/distribution is made ("primary currency")
NZD - New Zealand Dollar
2A.9 Total dividend/distribution payment amount per
+security (in primary currency) for all
dividends/distributions notified in this form
NZD 0.07522298
2A.9a AUD equivalent to total dividend/distribution
amount per +security
AUD
2A.9b If AUD equivalent not known, date for information
to be released
1/12/2023
Estimated or Actual?
2A.10 Does the entity have arrangements relating to the
currency in which the dividend/distribution is paid to
securityholders that it wishes to disclose to the market?
2A.11 Does the entity have a securities plan for
dividends/distributions on this +security?
2A.11a If the +entity has a DRP, is the DRP applicable to
this dividend/distribution?
2A.11a(i) DRP Status in respect of this
dividend/distribution
Full DRP
2A.12 Does the +entity have tax component information
apart from franking?
2A.13 Withholding tax rate applicable to the dividend/distribution (%)
15.000000 %
Part 3A - Ordinary dividend/distribution
3A.1 Is the ordinary dividend/distribution estimated at
this time?
3A.1a Ordinary dividend/distribution estimated amount
per +security
Yes
Yes
We have a Dividend/Distribution Reinvestment Plan (DRP)
No
Actual
No

Notification of dividend / distribution
Notification of dividend / distribution
4 / 7
this time?per +security
NZD
3A.1b Ordinary Dividend/distribution amount per
security
NZD 0.07000000
3A.2 Is the ordinary dividend/distribution franked?
3A.3 Percentage of ordinary dividend/distribution that is
franked
0.0000 %
3A.4 Ordinary dividend/distribution franked amount per
+security
NZD 0.00000000
3A.5 Percentage amount of dividend which is unfranked
100.0000 %
3A.6 Ordinary dividend/distribution unfranked amount
per +security excluding conduit foreign income amount
NZD 0.07000000
Part 3E - Other - distribution components / tax
3E.1 Please indicate where and when information about tax components can be obtained (you may enter a url).
https://infratil.com/for-investors/company-results/
3E.2 Please indicate the following information if applicable. (Refer Annual Investment Income Report specification for
further information)
Field NameAIIR Specification ReferenceValueEstimated/Actual
Interest9.79

Unfranked dividends not
declared to be conduit foreign
income

9.80

Unfranked dividends declared
to be conduit foreign income
9.81

Assessable foreign source
income
9.91

Tax-free amounts9.96

Tax-deferred amounts9.97

Managed investment trust
fund payments
9.105

9.120

No
No

Notification of dividend / distribution
Notification of dividend / distribution
5 / 7
Franked distributions from
trusts
Gross cash distribution9.121

Interest exempt from
withholding
9.122

Capital Gains discount
method Non-Taxable
Australian property
9.124

Capital gains other
Non-Taxable Australian
property
9.126


Other income9.130

Royalties9.135

NCMI

Excluded from NCMI

Part 3F - NZD declared dividends/distributions - supplementary dividend/distribution
3F.1 Is a supplementary dividend/distribution payable?
3F.2 Is the supplementary dividend/distribution
estimated at this time?
3F.2b Supplementary dividend/distribution amount per +security
NZD 0.00522298
3F.3 Is the Supplementary dividend/distribution franked?
3F.4 Percentage of Supplementary dividend/distribution
that is franked
0.0000 %
3F.4a Applicable corporate tax rate for franking credit
(%)
%
3F.5 Supplementary dividend/distribution franked
amount per +security
NZD 0.00000000
3F.6 Percentage of Supplementary dividend/distribution
that is unfranked
100.0000 %
3F.7 Supplementary dividend/distribution unfranked amount per security
NZD 0.00522298
No
No
Yes

Notification of dividend / distribution
Notification of dividend / distribution
6 / 7
Part 4A - +Dividend reinvestment plan (DRP)
4A.1 What is the default option if +security holders do not indicate whether they want to participate in the DRP?
4A.2 Last date and time for lodgement of election
notices to share registry under DRP
Friday December 1, 2023 15:00:00
4A.3 DRP discount rate
0.0000 %
4A.4 Period of calculation of reinvestment price
Start Date
4/12/2023
End Date
15/12/2023
4A.5 DRP price calculation methodology
Volume weighted average sale price for an IFT share based on all trades of IFT shares on the NZX Main Board over the
period for ten trading days commencing on and including 4 December 2023, subject to adjustment by IFT for any
exceptional or unusual circumstances in accordance with the DRP terms and conditions.
4A.6 DRP Price (including any discount):
NZD
4A.7 DRP +securities +issue date
19/12/2023
4A.8 Will DRP +securities be a new issue?4A.8a Do DRP +securities rank pari passu from +issue
date?
4A.9 Is there a minimum dollar amount or number of +securities required for DRP participation?
4A.10 Is there a maximum dollar amount or number of +securities required for DRP participation?
4A.11 Are there any other conditions applying to DRP participation?
4A.11a Conditions for DRP participation
Shareholders who are resident in New Zealand or Australia, and whose address on the share register is in New Zealand
or Australia, will be eligible to participate in the DRP. Infratil may also determine, in its absolute discretion, that a
shareholder who does not satisfy these criteria is eligible to participate in the DRP.
4A.12 Link to a copy of the DRP plan rules
https://infratil.com/news/dividend-reinvestment-plan/dividend-reinvestment-plan-offer-document/
4A.13 Further information about the DRP
The full terms and conditions of the DRP are set out in the DRP Offer Document at the link above.
Part 5 - Further information
5.1 Please provide any further information applicable to this dividend/distribution
Yes
No
No
Yes
Yes
Do not participate in DRP (i.e. cash payment)
Yes
No
No
Yes
Yes
Do not participate in DRP (i.e. cash payment)

Notification of dividend / distribution
Notification of dividend / distribution
7 / 7
5.2 Additional information for inclusion in the Announcement Summary