Capital Change Notice and Allocation Statement

Infratil Limited 5 Market Lane, PO Box 320, Wellington, New Zealand Tel +64-4-473 3663 www.infratil.com
NZX/ASX Release
16 July 2024
Capital Change Notice and Allocation Statement for the Retail Offer
NOT FOR RELEASE OR DISTRIBUTION IN THE UNITED STATES
Infratil Limited (Infratil) (NZX/ASX: IFT) provides the attached Capital Change Notice pursuant to NZX Listing
Rule 3.17. This notice relates to the issue of 27,093,600 ordinary shares under the retail offer originally
announced on 17 June 2024 (the Retail Offer).
For the purposes of NZX Listing Rule 4.17.9(c),
1
and having regard to the objectives which supported Infratil’s
choice of offer structure (being a Placement and Retail Offer, together the Equity Raise), Infratil’s objective for
allocations under the Retail Offer (part of which utilised Infratil’s placement capacity) was to maximise their
opportunity for eligible existing retail shareholders to acquire at least their pro rata entitlement of Infratil shares
that are to be issued in the Equity Raise (based on such shareholder’s holding of Infratil shares on the record
date for the Retail Offer of 9:00pm NZST on 14 June 2024).
In line with this objective, Infratil exercised its discretion to accept oversubscriptions in the Retail Offer (both in
the aggregate amount of applications accepted and in the amount subscribed for by certain investors) to the
extent necessary to enable certain shareholders who applied to participate in the Retail Offer for at least an
amount necessary to enable pro rata participation by such shareholders in the Equity Raise, to be allocated at
least their pro rata amount.
In determining which existing shareholders were eligible to participate in the Retail Offer, Infratil elected to make
the Retail Offer available in New Zealand and Australia (where the large majority of its retail shareholders are
based) and determined (based on applicable legal and regulatory requirements) that it would be unduly onerous
to make the Retail Offer available to retail shareholders in countries outside of New Zealand and Australia.
There were no significant exceptions or deviations from the objectives and criteria set out above.
– ENDS –
For further information, please contact:
Mark Flesher
Investor Relations
Infratil Limited
Email: mark.flesher@infratil.com







1
NZX Listing Rule 4.17.9(c) requires an issuer to publish a statement regarding the approach taken to allocation in connection with any offer of
shares that are issued under NZX Listing Rule 4.5.1. The Retail Offer was undertaken pursuant to NZX Listing Rule 4.3.1 (Pro-rata issues and
Share Purchase Plan) in respect of the first NZ$50,000 of new Infratil ordinary shares (New Shares) offered and NZX Listing Rule 4.5.1 (15%
Placement) in respect of any additional amount of New Shares above NZ$50,000 offered to eligible existing shareholders in the Retail Offer.

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

IMPORTANT INFORMATION
The distribution of this announcement in jurisdictions outside New Zealand and Australia may be restricted by law
and you should observe any such restrictions. Any failure to comply with such restrictions may constitute a violation
of applicable securities laws. This announcement may not be released or distributed in the United States. This
announcement does not constitute an offer to sell, or the solicitation of an offer to buy, any securities in the United
States or in any jurisdiction in which such an offer would be illegal. The securities to be offered and sold in the
Retail Offer have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the
“Securities Act”) or the securities laws of any state or other jurisdiction of the United States, and may not be offered
or sold, directly or indirectly, in the United States or to any person that is acting for the account or benefit of a
person in the United States.

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Capital Change Notice


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 27,093,600
Nominal value (if any) Not applicable
Issue/acquisition/redemption price per security NZ$10.15
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)
2.88%
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 27,093,600 ordinary
shares under a retail offer
announced on 20/06/2024, the
results of which (including the
extent of oversubscriptions
accepted) were announced on
12/07/2024.
The issuance was authorised
by board resolutions dated
16/06/2024 and 10/07/2024.
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.
966,542,280 ordinary shares
(excluding Treasury Stock)
1,662,617 Treasury Stock
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 issue of shares under the
retail offer is made pursuant to
NZX Listing Rule 4.3.1 and
NZX Listing Rule 4.5.1 as
explained in the offer
document dated 20/06/2024.
The issuance was authorised
by board resolutions dated
16/06/2024 and 10/07/2024.
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 16/07/2024
Section 3: Authority for this announcement and contact person
Name of person

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

16/07/2024