APA INFRASTRUCTURE LIMITED — Director's Dealing 2025

Sep 15, 2025

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

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Appendix 3Y

Change of 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 30/09/01 Amended 01/01/11

Name of entity	APA Group (consisting of APA Infrastructure Trust (ARSN 091 678 778) and APA Investment Trust (ARSN 115 585 441))
ABN	See above

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Adam Watson
Date of last notice	4 September 2025

Part 1 - Change of director’s relevant interests in securities

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.

Direct or indirect interest	Direct and Indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	Baker Watson Investments Pty Ltd Baker Watson Holdings Pty Ltd
Date of change	15 September 2025
No. of securities held prior to change	Direct 86,767 ordinary stapled securities 632,458 performance rights Indirect 115,974 ordinary stapled securities held through Baker Watson Investments Pty Ltd 17,000 ordinary stapled securities held through Baker Watson Holdings Pty Ltd

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

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Class	Ordinary stapled securities
Number acquired	Nil – refer to Nature of Change
Number disposed	Nil
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	$8.88 per ordinary stapled security
No. of securities held after change	Direct Nil ordinary stapled securities 632,458 performance rights Indirect 202,741 ordinary stapled securities held through Baker Watson Investments Pty Ltd 17,000 ordinary stapled securities held through Baker Watson Holdings Pty Ltd
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	Off market transfer of 86,767 ordinary stapled securities from Adam Watson to Baker Watson Invetsments Pty Ltd Watson Investment Account>.

Part 2 – Change of 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 contract Nature of interest Name of registered holder (if issued securities)

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

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Date of change
No. and class of securities to which
interest related prior to change
Note: Details are only required for a contract in relation to
which the interest has changed
Interest acquired
Interest disposed
Value/Consideration
Note: If consideration is non-cash, provide details and an
estimated valuation
Interest after change
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Part 3 –[+] Closed period

Part 3 –+Closed period
Were the interests in the securities or contracts detailed above traded during a+closed period where prior written clearance was required?	No
If so, was prior written clearance provided to allow the trade to proceed during this period?	Not applicable
If prior written clearance was provided, on what date was this provided?	Not applicable

• See chapter 19 for defined terms.

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