APA GROUP — Regulatory Filings 2012

Aug 5, 2012

Hastings Funds Management Limited ABN 27 058 693 388 AFSL No. 238309

Total pages: 1

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Level 27, 35 Collins Street Melbourne VIC 3000 Australia T +61 3 8650 3600 F +61 3 8650 3701 www.hfm.com.au Melbourne, London, New York, Sydney

ASX Announcement

Hastings Diversified Utilities Fund (HDF)

6 August 2012

HDF grants APA due diligence

Further to HDF’s announcement on 3 August 2012 regarding the APA Group’s (APA) intention to increase its takeover offer for HDF subject to completion of satisfactory due diligence, a subcommittee of independent directors of Hastings Funds Management Limited, as Responsible Entity for HDF, has advised that it will grant APA appropriate due diligence access.

HDF has agreed to suitable terms and conditions for the disclosure of information to APA while APA has also agreed to provide HDF with confidential information in relation to its financial position and outlook.

Subject to completion of satisfactory due diligence, APA has advised it has the intention to increase its offer consideration to a value of at least $2.50 per security, comprised of at least $0.60 cash and the remainder a fixed amount of APA securities, representing a value of at least $2.525 per security when combined with HDF’s distribution payable of $0.025 per security on 6 August 2012.

HDF Securityholders should be aware that there is no certainty that a superior offer may eventuate from APA as a result of due diligence. HDF will keep the market informed on any further developments.

For further enquiries, please contact:

Colin Atkin Chief Executive Officer Hastings Diversified Utilities Fund Tel: +61 3 8650 3600 Fax: +61 3 8650 3701 Email: investor_relations@hfm.com.au Website: www.hfm.com.au

Simon Ondaatje Head of Investor Relations Hastings Funds Management Tel: +61 3 8650 3600 Fax: +61 3 8650 3701 Email: investor_relations@hfm.com.au Website: www.hfm.com.au

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Jane Frawley Company Secretary

Hastings Funds Management Limited

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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