SPH Notice - Infratil Limited (Infratil)

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Disclosure of movement of 1% or more in substantial holding
or change in nature of relevant interest, or both
Sections 277 and 278, Financial Markets Conduct Act 2013
To NZX Limited
and
To Contact Energy Limited (CEN)
Relevant event being disclosed: Movement of 1% or more in substantial holding
Date of relevant event: 20 October 2025
Date this disclosure made: 20 October 2025
Date last disclosure made: 11 July 2025
Substantial product holder(s) giving disclosure
Full name(s): Infratil Limited (Infratil) and Infratil Investments Limited (Infratil
Investments)
Summary of substantial holding
Class of quoted voting products: ordinary shares in CEN
Summary for Infratil
For this disclosure,—
(a) total number held in class: 142,179,759
(b) total in class: 994,304,528
(c) total percentage held in class: 14.299%
For last disclosure,—
(a) total number held in class: 93,278,396
(b) total in class: 985,275,104
(c) total percentage held in class: 9.467%
Summary for Infratil Investments
For this disclosure,—
(a) total number held in class: 142,179,759
(b) total in class: 994,304,528
(c) total percentage held in class: 14.299%

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For last disclosure,—
(a) total number held in class: 93,278,396
(b) total in class: 985,275,104
(c) total percentage held in class: 9.467%
Details of transactions and events giving rise to relevant event
Details of the transactions or other events requiring disclosure:
On 20 October 2025, Infratil entered into an unconditional agreement with TECT Holdings
Limited (TECT) (Agreement) under which Infratil agreed to acquire (directly or via a
nominated related company), and TECT agreed to sell, 48,901,363 ordinary shares in
Contact Energy Limited (CEN Shares). Infratil will nominate Infratil Investments to acquire
the CEN Shares. Under the terms of the Agreement, completion of the sale and purchase
of the CEN Shares will occur on 22 October 2025 and on completion, the CEN Shares will
be transferred to Infratil Investments, and TECT will receive:
(i) NZ$218,833,605.74 in cash; plus
(ii) 17,605,277 new Infratil ordinary shares, which shall be issued by Infratil for
NZ$12.43 per share.
No relevant agreement is attached to this notice in reliance on regulation 141 of the
Financial Markets Conduct Regulations 2014.
Details after relevant event
Details for Infratil
Nature of relevant interest(s): Relevant interest in CEN ordinary shares held by Infratil
Investments, as (i) Infratil and Infratil Investments are related bodies corporate, (ii)
Infratil has the power to exercise, or control the exercise of, the right to vote attached to
20% or more of the voting products of, Infratil Investments, and (iii) Infratil has the power
to acquire or dispose of, or to control the acquisition or disposal of, 20% or more of the
voting products of Infratil Investments.
For that relevant interest,—
(a) number held in class: 142,179,759
(b) percentage held in class: 14.299%
(c) current registered holder(s):
(i) TECT in respect of 48,901,363 ordinary shares in CEN
(ii) Infratil Investments in respect of 93,278,396 ordinary shares in CEN
(d) registered holder(s) once transfers are registered: Infratil Investments

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Details for Infratil Investments
Nature of relevant interest(s): registered holder and beneficial owner of ordinary shares in
CEN
For that relevant interest,—
(a) number held in class: 142,179,759
(b) percentage held in class: 14.299%
(c) current registered holder(s):
(i) TECT in respect of 48,901,363 ordinary shares in CEN
(ii) Infratil Investments in respect of 93,278,396 ordinary shares in CEN
(d) registered holder(s) once transfers are registered: Infratil Investments
Additional information
Address(es) of substantial product holder(s): 5 Market Lane, Wellington, 6011, New
Zealand
Contact details: Head of Legal
Email: legal@hrlmorrison.com
Phone: +64 27 706
Nature of connection between substantial product holders: Infratil Investments is a
subsidiary (within the meaning of section 5 of the Companies Act 1993) of Infratil and is
therefore a related body corporate and associated person of Infratil (within the meanings
of those terms in sections 12(1) and (2) of the Financial Markets Conduct Act 2013).
Name of any other person believed to have given, or believed to be required to give, a
disclosure under the Financial Markets Conduct Act 2013 in relation to the financial
products to which this disclosure relates: not applicable.
Certification
I, Brendan Kevany, certify that, to the best of my knowledge and belief, the information
contained in this disclosure is correct and that I am duly authorised to make this disclosure
by all persons for whom it is made.