FUTURE GENERATION AUSTRALIA LIMITED — Capital/Financing Update 2012

Mar 22, 2012

Total pages: 1

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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, San Antonio, Sydney ABN 97 063 935 553

ASX Announcement

Australian Infrastructure Fund (AIX)

23 March 2012

AIX divests its 38.9 percent interest in Metro Transport Sydney

Australian Infrastructure Fund (AIX) today announced that it had entered into an agreement for the divestment of its 38.9 percent interest in Metro Transport Sydney Pty Limited (MTS), being the owner of the light rail and monorail networks in Sydney.

The agreement for the sale is expected to complete today. At completion, AIX will receive consideration comprising $7.7 million of cash, plus a distribution equal to the cash held by MTS above the working capital requirements. Total consideration to be received by AIX, after costs related to the transaction, is expected to exceed $8.0 million.

The consideration to be received compares favourably to the value independently attributed to AIX’s interests in MTS at 31 December 2011, supporting AIX’s strategy of maximising securityholder value through the divestment of non-core assets for appropriate value and on appropriate terms.

The Chief Executive Officer, Jeff Pollock, said “The divestment of AIX’s interests in Port of Geelong, and now MTS, both for consideration at least equal to the independently assessed value, reinforces our commitment to focussing the AIX portfolio on its key airport assets by divesting non-core assets for value. We are pleased with the value that has been realised for securityholders on the sale of MTS, as well as the further benefits arising from simplifying the AIX portfolio.”

At this stage, AIX intends to retain the proceeds from the divestment of its interests in MTS to provide enhanced funding flexibility.

Following the divestment of MTS, airports will comprise 96 percent of the AIX portfolio by value.

AIX and its co-investors were advised on the transaction by RBC Capital Markets, Freehills and Greenwoods & Freehills.

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

Jefferson Petch

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.