AURIZON HOLDINGS LIMITED — Board/Management Information 2011

Nov 23, 2011

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Dominic D Smith SVP & Company Secretary

QR National Limited ABN 14 146 335 622

Level 14, 305 Edward Street Brisbane QLD 4000, Australia GPO Box 456 Brisbane QLD 4001, Australia

T +61 7 3235 1976 F +61 7 3235 2188 companysecretary@qrnational.com.au

24 November 2011

Company Announcements Office Australian Securities Exchange Limited Riverside Centre, Level 5 123 Eagle Street BRISBANE QLD 4000

BY ELECTRONIC LODGEMENT

QR National New Leadership Appointments

Please find attached an ASX announcement for immediate release to the market.

Yours faithfully

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Dominic D Smith SVP & Company Secretary

QR National Limited ACN 146 335 622

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ASX announcement

24 November 2011

QR NATIONAL ANNOUNCES NEW SENIOR LEADERSHIP APPOINTMENTS

The nation’s largest rail freight company, QR National today announced several senior leadership appointments to support its transition to a new organisational structure from next month.

In an address to the AusRAIL Conference today, QR National Managing Director and CEO Lance Hockridge said in the twelve months since privatisation QR National had made big strides in safety, customer focus and transformation as well as dealing with the challenges of floods and cyclones.

“As we look to the future however we are focussed on increasing the momentum of reform in the Company,” Mr Hockridge said.

“We see enormous opportunity to grow our business and the change in structure combined with the new appointments will provide a platform for that growth.

“Our new functional structure, which is similar to the Class 1 Railroads of North America, will accelerate our company transformation, drive a company-wide focus on customer service and more closely align operational focus and improved company performance.”

As has been foreshadowed previously from December 1, 2011 QR National will move from a business unit model to a functional model under eight functions – Marketing, Operations, Network, Strategy and Business Development, Business Sustainability, Finance, Human Resources and Enterprise Services.

Marketing

Mr Paul Scurrah has been appointed as the Executive Vice President Commercial and Marketing. Mr Scurrah will have responsibility for customer and related commercial matters, with the exception of the Queensland below rail matters. The function will include key account management, commercial and planning, strategy, supply chain planning, market intelligence and customer service.

Mr Scurrah is the current CEO of Queensland Rail and has previously held a number of senior roles at QANTAS, American Express, Ansett, Tourism Queensland and Flight Centre.

He has forged a career around customer service excellence and was recently awarded the CEO of the Year Award for the Customer Service Institute of Australia.

Operations

QR National is currently undertaking a global search for the position of Executive Vice President Operations. Until the Company is in a position to announce the appointment of a permanent appointment Mr Lindsay Cooper will act in the role from December 1. In this role Mr Cooper will be responsible for operations including scheduling, service delivery, maintenance and fleet planning.

Mr Cooper currently heads Operational Excellence in QR National and has more than forty years experience in the rail industry with extensive specialist service in heavy rail engineering, manufacturing, project management, asset management and optimisation.

Two new key support positions in the function have also been announced.

Mr Ed McKeiver will assume the role of Senior Vice President Service Delivery Coal Markets. Mr McKeiver was previously Group General Manager Rollingstock Services and prior to that had a distinguished career in manufacturing in Australia and overseas with Bluescope Steel. In this new role he will assume most of the operational responsibilities previously undertaken by Mr Marcus McAuliffe.

All other key executives in the Coal part of the business remain the same.

Mr Chris Gregg will assume the role of Senior Vice President Service Delivery Bulk Markets. Chris was previously Group General Manager Freight East and had a distinguished career within QR National. In this new role Mr Gregg will assume most of the operational responsibilities previously undertaken by Mr Ken Lewsey.

Strategy and Business Development

Mr Ken Lewsey will head up the new Strategy and Business Development function. Under the current structure Mr Lewsey leads QR National Freight. In his new role Mr Lewsey will be responsible for growing QR National through enterprise strategy and projects including enterprise strategy, enterprise business development, mergers and acquisitions, solution and design support, and intermodal and iron ore.

Finance, Human Resources and Enterprise Services

Ms Deborah O’Toole will continue to lead the Finance function as Chief Financial Officer, Mr John Stephens will continue to lead the Human Resources function as Chief Human Resources Officer and Mr Greg Pringle will head up the Enterprise Services function which includes areas such as Legal, Internal Audit and Information Technology.

Network

Mr Mike Carter will continue to bring his expertise to the Network function which includes the operations, maintenance and expansion of the QR National rail network.

Business Sustainability

Mr Greg Robinson joins QR National and will lead the Business Sustainability function. This function will strive for best practice operations and business improvement across the organisation including areas such as safety, health and environment, procurement, innovation and capital excellence.

Mr Robinson was previously General Manager at Lysaght – the rollforming business of Bluescope Steel Limited. He has global experience with more than twenty years in various senior roles with Bluescope Steel and BHP.

Mr Hockridge said that the executive previously responsible for the Coal business, Marcus McAuliffe has decided to leave QR National at this juncture.

“I am disappointed to lose Marcus from the team but I wish him well for the future,” he said.

“Marcus led a rapid and comprehensive reform of the coal business that allowed it to face into the newly arriving competition in Queensland and triple the size of the business in NSW. His leadership has delivered safety, revenue, earnings and capital productivity gains which underpin the performance of our coal business for the future and he has contributed strongly to broader organisational reform. His contribution will be a key building block for the future success of our business”.

Mr Hockridge said there was enormous opportunity to grow the business and the change in structure combined with the appointments announced today would provide a platform for that growth.

For more information:

Investors: Media: investor.relations@qrnational.com.au media@qrnational.com.au Lindsay Woodland Mark Hairsine +61 437 737 457 +61 418 877 574

Lindsay Woodland +61 437 737 457