APA INFRASTRUCTURE LIMITED — Director's Dealing 2022

Dec 22, 2022

Appendix 3X Initial Director’s Interest Notice

Rule 3.19A.1

Appendix 3X

Initial Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public. Introduced 30/9/2001.

Name of entity APA Infrastructure Limited ABN 89 009 666 700

We (the entity) give ASX the following information under listing rule 3.19A.1 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Adam Jeffrey Watson
Date of appointment	19 December 2022

Part 1 - Director’s relevant interests in securities of which the director is the registered holder

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Number & class of securities

Nil relevant interests in APA Infrastructure Limited (ASX: AP2) securities.

Mr Watson holds relevant interests in APA Group (ASX: APA) securities. APA Group Ordinary Stapled Securities consist of a single unit in APA Infrastructure Trust (ARSN 091 678 778) stapled to a single unit in APA Investment Trust (ARSN 115 585 441). APA Group Performance Rights are rights to receive APA Group Ordinary Stapled Securities, subject to the satisfaction of vesting conditions.

Set out following are Mr Watson’s relevant interests in APA Group securities:

• 397,255 –APA Group Performance Rights (held under the APA Group Equity Incentive Plan, subject to the satisfaction of certain performance hurdles).

• See chapter 19 for defined terms.

Appendix 3X Page 1

11/3/2002

Appendix 3X Initial Director’s Interest Notice

Part 2 – Director’s relevant interests in securities of which the director is not the registered holder

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Name of holder & nature ofinterestNote: Provide details of the circumstances giving riseto the relevant interest.Baker Watson Investments Pty Ltd<Baker Watson Investment A/C>	Number & class of Securities55,556 APA Group Ordinary Stapled Securities

Part 3 – Director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

Detail of contractNature of interestName of registered holder(if issued securities)No. and class of securities towhich interest relates

Mr Watson has a contractual entitlement toparticipate in APA Group’s short term incentivearrangements for FY23 under the APA GroupEquity Incentive Plan.Contractual entitlement to receive a short termincentive award of cash and/or fully paid APAGroup Ordinary Stapled Securities, with a targetvalue of $816,500 subject to the satisfaction ofcertain performance hurdles over the FY23performance year.Not applicableNot applicable

• See chapter 19 for defined terms.

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11/3/2002