APA GROUP — M&A Activity 2012

Aug 26, 2012

27 August 2012

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The Manager Company Announcements Office Australian Securities Exchange 4[th] Floor, 20 Bridge Street Sydney NSW 2000

Electronic Lodgement

Dear Sir/Madam

APT Pipelines Limited – Takeover bid for Hastings Diversified Utilities Fund (“Offer”) – Notice of waiver of offer conditions

In accordance with section 650F of the Corporations Act, please find attached a notice of waiver of offer conditions.

This document relates to APT Pipelines Limited’s bidder’s statement dated 15 December 2011 (as supplemented) for all the stapled securities in Hastings Diversified Utilities Fund (each stapled security comprising one unit in each of HDUF Epic Trust (ARSN 109 770 961), HDUF Finance Trust (ARSN 109 770 765), and HDUF Further Investments Trust (ARSN 109 897 921)).

A copy of the attached notice will be given to Hastings Diversified Utilities Fund today.

Yours faithfully

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Mark Knapman Company Secretary

APT PIPELINES LIMITED (ABN 89 009 666 700) (A COMPANY WHOLLY OWNED BY AUSTRALIAN PIPELINE TRUST (ARSN 091 678 778)) (“BIDDER”)

NOTICE OF WAIVER OF OFFER CONDITIONS

TO:

Hastings Funds Management Limited (ABN 27 058 693 388) in its capacity as responsible entity of the Hastings Diversified Utilities Fund (“HDUF”)

AND TO: ASX Limited

In relation to the Offer made pursuant to the bidder’s statement dated 15 December 2011 in relation to the takeover bid by the Bidder for all of the stapled securities in HDUF (“ Bidder’s Statement ”), the Bidder gives notice under section 650F of the Corporations Act that:

• it waives the conditions set out in section 10 of the Bidder’s Statement as follows:

  • paragraph (i) (HDUF announcement re security constraints in financing arrangements);

  • paragraph (j) (HDUF announcement re change of control in financing arrangements); and

  • paragraph (k) (change of control in financing arrangements),

and declares the Offer and any takeover contract arising from acceptance of the Offer free from these conditions; and

• as at 24 August 2012, the Bidder’s voting power in HDUF is 21.10%, comprising 111,830,576 stapled securities out of a total of 530,001,072 stapled securities presently on issue.

Unless the context requires otherwise, defined terms in the Bidder’s Statement have the same meaning in this notice.

This notice is dated 27 August 2012.

Signed on behalf of APT Pipelines Limited (ABN 89 009 666 700).

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Robert Wright Michael McCormack Director Director