ARGO GLOBAL LISTED INFRASTRUCTURE LIMITED — Net Asset Value 2020

Dec 13, 2020

NTA & Investment Update

AT 30 NOVEMBER 2020

NET TANGIBLE ASSET (NTA) BACKING PER SHARE

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30 Nov 31 Oct
NTA per share1 $2.25 $2.21
NTA per share after unrealised tax provision2 $2.23 $2.20
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1 After all costs, including any tax payable.

2 As required under the ASX Listing Rules, theoretical NTA per share after providing for estimated tax on unrealised gains/losses in the portfolio. That is, after tax that may arise if the entire portfolio was sold.

PORTFOLIO PERFORMANCE

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Since
3 mths 1 year 3 years (p.a.)
incept. (p.a.)
+5.4% -7.3% +6.9% +7.4%
Portfolio
Benchmark +6.2% -9.4% +5.0% +7.0%
S&P/ASX 200 +8.2% -2.0% +6.9% +7.2%
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FTSE Global Core Infrastructure 50/50 Index (in A$) *Accumulation Index

Argo Infrastructure

ASX code	ALI
Listed	July2015
Portolio Manager	Cohen & Steers
Shareholders	9,500
Market cap.	$308m
Management fee	1.2%
Performance fee	Nil
Hedging	Unhedged
Dividendyield^	3.5%

^Historical yield of 4.9% (including franking) based on dividends over the last 12 months.

Weekly NTA announcement

For the latest weekly NTA estimate, please see argoinfrastructure.com.au.

Company overview

Provides exposure to an actively managed portfolio of global listed infrastructure companies. Argo Infrastructure has no debt.

Company objective

Provide a total return for long-term investors consisting of capital growth and dividend income, from a global listed infrastructure portfolio which provides diversification benefits for Australian investors.

About the Portfolio Manager

A leading specialist global real assets fund manager listed on NYSE, Cohen & Steers manages funds of more than A$90 billion from offices worldwide on behalf of institutional clients and sovereign wealth funds.

Key personnel

Key personnel wealth funds.
Jason Beddow	Managing Director
Benjamin Morton	Senior Portolio Manager
Robert Becker	Portolio Manager
Tyler Rosenlicht	Portolio Manager

Argo Global Listed Infrastructure Limited | 1

ACN 604 986 914

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PORTFOLIO

Sector diversification

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Electric 38.7%
Communications 12.5%
Railways 9.6%
Toll Roads 9.5%
Midstream Energy 9.0%
Airports 8.0%
Water 5.9%
Gas Distribution 3.4%
Cash 2.3%
Marine Ports 1.1%
Diversified 0.0%
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Geographic diversification

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United States ^ 53.3%
Europe 11.9%
Canada 9.5%
Asia Pacific 8.8%
Australia 5.7%
Latin America 4.1%
Japan 2.7%
Cash 2.3%
United Kingdom 1.7%
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^ Many of the largest infrastructure companies are listed in the United States, although their operations and earnings are often global.

ARGO INFRASTRUCTURE SHAREHOLDER BENEFITS

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Global diversification Exposure across various geographies and both emerging and developed economies

Specialist global fund manager Access to a world-leading, specialist infrastructure fund manager

Access infrastructure opportunities New opportunities offshore through government privatisations

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Proven investment approach Experienced and senior investment team with a long and successful track record

Enhance risk-adjusted returns Less volatile than broader equities providing some relative downside protection

Administratively simple global investing Exposure to a large and complex asset class through one simple ASX trade

HOW TO INVEST

To become a Argo Infrastructure is listed on the Australian Securities Exchange (ASX) under the ASX code ‘ALI’. shareholder, simply buy shares through your stockbroker, online broker, financial adviser or platform.

CONTACT US

SHARE REGISTRY ENQUIRIES

W argoinfrastructure.com.au BoardRoom Pty Limited T 08 8210 9555 W investorserve.com.au E invest@argoinfrastructure.com.au T 1300 389 922 A Level 25, 91 King William St. Adelaide SA 5000

This report has been prepared as general information only and is not intended to provide financial advice or take into account your objectives, financial situation or needs. You should consider, with a financial adviser, whether the information is suitable for your circumstances before making any investment decisions. Past performance is no guarantee of future results. This announcement is authorised by Tim Binks, Company Secretary.

Argo Global Listed Infrastructure Limited | 2

ACN 604 986 914