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 7,742,298
Nominal value (if any) Not applicable
Issue/acquisition/redemption price per security $10.33284925
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)
0.80%
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 28 May
2025 and authorised by board
resolution dated 27 May 2025.
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.
975,828,430

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 22

August 2024 and by board resolution
dated 27 May 2025.
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 5 June 2025
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
Mark Flesher, Investor Relations
Contact phone number
+64 4 473 2399
Contact email address
mark.flesher@infratil.com
Date of release through MAP 5 June 2025