FUTURE GENERATION AUSTRALIA LIMITED — Board/Management Information 2013

Jul 3, 2013

Melbourne, London, New York, Sydney, Singapore www.hastingsinfra.com

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Hastings Funds Management Limited Level 27, 35 Collins Street Melbourne VIC 3000 Australia

T +61 3 8650 3600 F +61 3 8650 3701

ASX Announcement

Australian Infrastructure Fund (AIX)

ABN 27 058 693 388 AFSL No. 238309

Australian Infrastructure Fund Limited ABN 97 063 935 553

Total pages: 5

Director Arrangements from 1 July 2013

Having regard to AIX’s changing circumstances following payment of the cash return on 8 July 2013, the three remaining directors of Australian Infrastructure Fund Limited ( AIFL ) have agreed that it is appropriate to stay on the Board until at least 31 October 2013 under new arrangements commencing 1 July 2013. These non-executive directors, Paul Espie, John Harvey and Mike Hutchinson have agreed that the new arrangements include reducing the annual Board fees to be paid to each director by 50%.

In order to preserve Mr. Espie’s long-standing retirement benefits under the new fee arrangements, Mr Espie has resigned from the AIFL Board effective 30 June 2013 and has been re-appointed as a nonexecutive director and Chairman of AIFL, effective from 1 July 2013. Mr Espie will be subject to reelection as a director at the next annual general meeting of AIFL . Consistent with AIFL board policy, once the retirement benefit under the AIFL Directors’ Retirement Plan is paid to Mr Espie, the Plan will effectively terminate.

For further enquiries, please contact:

Simon Ondaatje Head of Investor Relations

Hastings Funds Management Tel: +61 3 8650 3600 Fax: +61 3 8650 3701 Email: investor_relations@hastingsinfra.com Website: www.hfm.com.au/asxlisted/funds/aif/

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Jane Frawley Company Secretary

Australian Infrastructure Fund

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.