APA GROUP — Merger & Acquisition 2012

Apr 22, 2012

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Hastings Funds Level 27, 35 Collins Street Management Limited Melbourne VIC 3000 Australia ABN 27 058 693 388 T +61 3 8650 3600 AFSL No. 238309 F +61 3 8650 3701 www.hfm.com.au Melbourne, London, San Antonio, Sydney

The Manager Company Announcements Office ASX Limited

23 April 2012

Dear Sir

Hastings Diversified Utilities Fund (ASX: HDF) – takeover bid by APT Pipelines Limited Second Supplementary Target’s Statement

We enclose, by way of service pursuant to paragraph 647(3)(b) of the Corporations Act 2001 (Cth), HDF’s Second Supplementary Target’s Statement dated 23 April 2012 in relation to the offmarket takeover by APT Pipelines for all the stapled securities in HDF.

Yours faithfully

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Jane Frawley Company Secretary

Unless otherwise stated, the information contained in this document is for informational purposes only. It does not constitute an offer of securities and should not be relied upon as financial advice. The information has been prepared without taking into account the investment objectives, financial situation or particular needs of any particular person or entity. Before making an investment decision you should consider, with or without the assistance of a financial adviser, whether any investments are appropriate in light of your particular investment needs, objectives and financial circumstances. Neither Hastings, nor any of its related parties including Westpac Banking Corporation ABN 33 007 457 141, guarantees the repayment of capital or performance of any of the entities referred to in this document and past performance is no guarantee of future performance. Hastings, as the Manager or Trustee of various funds, is entitled to receive management and performance fees.

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1 Introduction

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2 HDF signs a new take or pay agreement with Santos on the South West Queensland Pipeline for approximately $400 million in total revenue

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3 Takeover offer – timetable and process

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4 Other notices

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