FUTURE GENERATION AUSTRALIA LIMITED — Capital/Financing Update 2010

Aug 23, 2010

Hastings Funds Management Limited ABN 27 058 693 388 AFSL No. 238309 Australian Infrastructure Fund Limited ABN 97 063 935 553

Level 16, 90 Collins Street Melbourne VIC 3000 Australia T +61 3 8650 3600 F +61 3 8650 3701 www.hfm.com.au Melbourne, London, San Antonio, Sydney

Total pages: 2

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ASX Announcement

Australian Infrastructure Fund (AIX)

24 August 2010

Melbourne Airport completes $1.25 billion refinancing

Melbourne Airport announced today it had successfully completed a $1.25 billion refinancing.

The refinancing encompasses new bank facilities including a $300 million two-year facility along with a $600 million four-year facility. Melbourne Airport also placed $350 million of domestic notes last week with a number of domestic and international institutions.

The bank facilities are provided by ANZ, Commonwealth Bank, NAB and Westpac, all of whom have been long term supporters of Melbourne Airport, and by new lenders Bank of Nova Scotia Asia Limited, Bank of Tokyo-Mitsubishi UFJ, Ltd and Crédit Industriel et Commercial.

The Chief Executive of the Australian Infrastructure Fund, Jeff Pollock, said: “This is a significant milestone for Melbourne Airport and management is to be congratulated at completing the refinancing on very competitive terms. The refinancing will assist Melbourne Airport to fund its growth capex projects and further confirms its position as one of Australia’s pre-eminent airport assets.”

Earlier this month, Melbourne Airport announced an all time record month for passengers with total passenger numbers up 13.4 percent when compared with July 2009. International growth was up 16.4 percent, and domestic growth was up 12.7 percent compared to the previous corresponding period.

Melbourne Airport continues to be rated A- by Standard & Poor’s and A3 by Moody’s. AIX’s ownership of APAC is 12.39 percent, and APAC represents 25.2 percent of the AIX portfolio by value.

Attached is a release from Melbourne Airport and AIX will report its Annual Results on Wednesday 25 August.

For further enquiries, please contact:

Jeff Pollock Simon Ondaatje Chief Executive Officer Head of Investor Relations Australian Infrastructure Fund Hastings Funds Management Tel: +61 3 8650 3600 Tel: +61 3 8650 3600 Fax: +61 3 8650 3701 Fax: +61 3 8650 3701 Email: investor_relations@hfm.com.au Email: investor_relations@hfm.com.au Website: www.hfm.com.au/aix Website: www.hfm.com.au/aix

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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.

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MEDIA RELEASE

Tuesday, 24 August 2010

Melbourne Airport completes $1.25 billion refinancing

Melbourne Airport today announced that it had completed $900 million of new bank facilities, which follow on from the $350 million of domestic notes placed last week with a range of domestic and international institutions.

The new funding will refinance debt maturing in the first half of the 2011 calendar year.

The new bank facilities include a $300 million two-year facility and a $600 million four-year facility.

The refinancing is being provided by ANZ, Commonwealth Bank, NAB and Westpac, all of whom have been long term supporters of Melbourne Airport, and by new lenders Bank of Nova Scotia Asia Limited, Bank of Tokyo-Mitsubishi UFJ, Ltd and Crédit Industriel et Commercial.

Melbourne Airport Chief Financial Officer Kirby Clark said that the refinancing was recognition of the financial community’s confidence in Melbourne Airport’s operations despite challenging global economic conditions.

“Melbourne Airport is a secure business that produces consistent, measured growth and strong returns – evidenced by the confidence in our operations shown by the debt investors and banks,” said Mr Clark.

Mr Clark said the changes allow the airport to restructure its existing debt and provide a facility to fund capital expenditure for the next phase of Melbourne Airport’s development.

“As the major gateway to Victoria, Melbourne Airport is in a unique position to help drive the state’s growth,” he said.

“The refinancing will increase capacity and investment in infrastructure to drive economic growth, underpin tourism and connect millions of people around Australia and across the globe, with benefits to flow to the Victorian community.”

Melbourne Airport continues to be rated A- by Standard & Poor’s and A3 by Moody’s.

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For further information, please contact: Melbourne Airport Media – (03) 9335 3666