FUTURE GENERATION AUSTRALIA LIMITED — Capital/Financing Update 2012

Aug 13, 2012

Hastings Funds Level 27, 35 Collins Street Management Limited Melbourne VIC 3000 Australia ABN 27 058 693 388 T +61 3 8650 3600 AFSL No. 238309 F +61 3 8650 3701 Australian Infrastructure www.hfm.com.au Fund Limited Melbourne, London, New York, Sydney ABN 97 063 935 553

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ASX Announcement

Australian Infrastructure Fund (AIX)

14 August 2012

AIX airports deliver continued passenger growth for the 2012 financial year

AIX today reported total growth in passenger numbers of 1.9 percent for its airport portfolio for the financial year to 30 June 2012 when weighted by AIX’s proportional interests, in comparison to the previous corresponding period (pcp). For the month and the quarter to 30 June 2012, total passenger numbers increased on the pcp, by 6.7 percent and 3.6 percent respectively.

For the financial year ended 30 June 2012, total passenger growth at Perth Airport was 10.3 percent, with domestic and international passengers increasing 11.7 percent and 6.9 percent respectively on the pcp. The continued strength in domestic passenger numbers is largely attributable to continued growth in fly-in / fly-out volumes related to the oil, gas and mining sectors in the region, from both interstate and intrastate locations. In the international terminal, passenger numbers have continued to benefit from the strong Australian dollar, which has supported leisure travel into Asia, particularly Bali.

Total passengers at Melbourne Airport for the financial year were slightly above the pcp. While domestic volumes declined by 2.0 percent, the Airport achieved 7.9 percent growth in international patronage as new international services commenced following the Airport’s strategic focus on attracting Asian travellers. Queensland Airports Limited (QAL) reported a slight decline in its overall passenger numbers of 1.0 percent for the financial year, which is largely attributed to the strong Australian dollar and subdued global economic conditions having negatively affected leisure travel to the Gold Coast.

For the month of June, when weighted by AIX’s proportional interests, total passenger numbers were 6.7 percent above the pcp. Of this, domestic and international passenger numbers increased by 7.6 percent and 5.4 percent respectively on the pcp. QAL’s Gold Coast Airport achieved a particularly strong increase in international passenger volumes of 20.7 percent on the pcp, with the new international airline Scoot commencing services and a rise in travellers on New Zealand routes. Domestic passenger numbers at Gold Coast Airport also rose 8.1 percent on the pcp. This positive comparison is partially attributable to one-off events in the pcp, including disruptions caused by the Chilean volcanic ash cloud and Tiger Airways’ suspended domestic services.

Passengers through AIX’s European airports, on a consolidated basis for the financial year to 30 June 2012, were largely consistent with the pcp. While Athens Airport underperformed as a result of the continued economic uncertainty in Greece, each of Dusseldorf and Hamburg airports performed well despite the uncertain financial conditions in Europe, with consolidated passenger growth of 4.5 percent, 2.3 percent and 3.6 percent for the month, quarter and financial year to 30 June 2012 respectively.

AIX Chief Executive Officer, Jeff Pollock, said: “The AIX portfolio of airports has delivered positive passenger growth for each of the month, quarter and financial year to 30 June 2012. This performance is due to several positive factors, including continued competition between the domestic airlines and increased capacity, as well as the success of the Australian airports in attracting new services, particularly from international carriers. Despite the challenging economic environment, the airports comprising the AIX portfolio have proven to be resilient and continue to perform for our securityholders.”

The table below highlights the year-on-year total passenger growth for the month, quarter and financial year ended 30 June 2012:

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.

	Airport June 2012 Month Total Growth (%) June 2012 Quarter Total Growth (%) June 2012 Financial Year Total Growth (%) Perth Airport 14.0 11.6 10.3 APAC 7.1 2.2 0.1 Queensland Airports Limited 8.0 4.0 (1.0) NT Airports (1.9) (4.1) (3.2) Sydney Airport 6.1 2.0 0.0 HTAC – Athens Airport (12.3) (12.4) (8.3) HTAC – Dusseldorf Airport 4.0 2.7 4.1 HTAC – Hamburg Airport 5.3 1.8 2.8 AIX weighted growth 6.7 3.6 1.9*

• APAC includes both Melbourne and Launceston airports

Detailed passenger growth statistics for AIX’s airports are attached.

For further enquiries, please contact:

Jeff Pollock

Chief Executive Officer

Australian Infrastructure Fund Tel: +61 3 8650 3600 Fax: +61 3 8650 3701 Email: investor_relations@hfm.com.au Website: www.hfm.com.au

Simon Ondaatje Head of Investor Relations

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

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Jefferson Petch

Company Secretary

Australian Infrastructure Fund

AIX Airport Statistics June 2012

Perth Airport - Airstralia Development Group (ADG-WA)

Passengers (000's)		June month	June month		June quarter	June quarter	June financial	June financial	year
	2012	2011	Growth %	2012	2011	Growth %	2012	2011	Growth %
- Domestic	775	667	16.1	2,367	2,085	13.5	9,140	8,186	11.7
- International	290	267	8.6	852	800	6.4	3,492	3,266	6.9
Total Passengers	1,065	934	14.0	3,219	2,885	11.6	12,633	11,451	10.3

Melbourne and Launceston Airports - Australia Pacific Airports Corporation (APAC)

Passengers (000's)		June month	June month		June quarter	June quarter	June financial	June financial	year
	2012	2011	Growth %	2012	2011	Growth %	2012	2011	Growth %
Melbourne Airport
- Domestic	1,713	1,613	6.2	5,293	5,222	1.4	21,461	21,903	(2.0)
- International	553	506	9.3	1,598	1,530	4.4	6,784	6,287	7.9
Launceston Airport
- Domestic	84	73	15.6	268	254	5.6	1,127	1,149	(1.9)
Total Passengers	2,358	2,201	7.1	7,188	7,036	2.2	29,504	29,477	0.1

Note: Total Passengers comprises Domestic (including Domestic-on-Carriage) and International, as well as International Transits (not shown) for Melbourne Airport.

Queensland Airports - Queensland Airports Limited (QAL)

Passengers (000's)		June month			June quarter	June quarter	June financial year	June financial year	June financial year
	2012	2011	Growth %	2012	2011	Growth %	2012	2011	Growth %
Gold Coast Airport
- Domestic	340	315	8.1	1,065	1,024	4.0	4,551	4,659	(2.3)
- International	64	53	20.7	178	166	6.8	765	782	(2.2)
Townsville & Mount Isa Airports
- Domestic & International	166	160	3.6	490	475	3.0	1,941	1,891	2.6
Total Passengers	571	528	8.0	1,734	1,666	4.0	7,259	7,335	(1.0)

Note: Total includes transits (not shown) for Gold Coast and Townsville Airports. An international service commenced at Townsville Airport during December 2010, however international passengers are not reported separately for Townsville due to commercial confidentiality. Further note: The June YTD includes an additional 2,492 transit passengers that were reported for the first time after 30 June 2012, but which relate to the June YTD. These transit passengers are not material.

Northern Territory Airports - Airport Development Group (ADG-NT)

Passengers (000's)		June month	June month	June quarter	June quarter	June quarter	June financial	June financial	year
	2012	2011	Growth %	2012	2011	Growth %	2012	2011	Growth %
- Domestic	213	207	2.9	600	595	0.8	2,325	2,338	(0.6)
- International	32	35	(7.4)	91	96	(4.7)	406	355	14.3
Total Passengers	253	258	(1.9)	713	744	(4.1)	2,832	2,926	(3.2)

Note: Total includes transits (not shown) for Darwin International Airport. Following changes to a number of flight numbers in the period since 1July 2011, a proportion of the transit passengers at Darwin International Airport are now classified as transfer passengers. The overall reporting of combined total transit and transfer remains unchanged.

Sydney Airport - HOCHTIEF AirPort Capital (HTAC)

Passengers (000's)		June month	June month	June quarter	June quarter	June quarter	June financial	June financial	year
	2012	2011	Growth %	2012	2011	Growth %	2012	2011	Growth %
- Domestic	1,884	1,813	3.9	5,832	5,818	0.2	23,906	24,323	(1.7)
- International	965	875	10.3	2,832	2,684	5.5	11,914	11,492	3.7
Total Passengers	2,858	2,693	6.1	8,688	8,517	2.0	35,903	35,887	0.0

Note: Total Passengers comprises Domestic and International, as well as Domestic-On-Carriage (not shown) for Sydney Airport.

Athens Airport - HOCHTIEF AirPort Capital (HTAC)

Passengers (000's)	June month	June month	June month	June quarter	June quarter	June quarter	June financial	June financial	year
	2012	2011	Growth %	2012	2011	Growth %	2012	2011	Growth %
- Domestic	433	484	(10.4)	1,230	1,341	(8.3)	4,709	5,115	(7.9)
- International	851	981	(13.3)	2,298	2,685	(14.4)	8,943	9,779	(8.6)
Total Passengers	1,284	1,465	(12.3)	3,528	4,026	(12.4)	13,652	14,894	(8.3)

Düsseldorf Airport - HOCHTIEF AirPort Capital (HTAC)

Passengers (000's)	June month	June month	June month	June quarter	June quarter	June quarter	June financial	June financial	year
	2012	2011	Growth %	2012	2011	Growth %	2012	2011	Growth %
- Domestic	382	369	3.6	1,145	1,151	(0.5)	4,592	4,591	0.0
- International	1,539	1,479	4.0	4,329	4,180	3.6	16,120	15,306	5.3
Total Passengers	1,921	1,848	4.0	5,474	5,330	2.7	20,712	19,897	4.1

Note: International includes transits for Düsseldorf Airport.

Hamburg Airport - HOCHTIEF AirPort Capital (HTAC)

Passengers (000's)	June month	June month	June month	June quarter	June quarter	June quarter	June financial	June financial	year
	2012	2011	Growth %	2012	2011	Growth %	2012	2011	Growth %
- Domestic	469	476	(1.4)	1,390	1,459	(4.7)	5,535	5,709	(3.0)
- International	788	718	9.7	2,215	2,081	6.4	8,235	7,685	7.2
Total Passengers	1,257	1,194	5.3	3,605	3,541	1.8	13,770	13,394	2.8

Note: International includes transits for Hamburg Airport.

Note: In accordance with disclosure policies at some AIX assets, revenue and EBITDA information have not been provided. Passenger numbers have been calculated using the most accurate sources available, however any rates or totals manually calculated may differ from those shown due to rounding.