INFRATIL LIMITED. — Capital/Financing Update 2012

May 29, 2012

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30 May 2012

Infratil Warrants To Expire Unexercised

Free warrants issued by Infratil to shareholders in 2007 expire 29 June 2012.

Until their expiry the warrants entitle the holder to buy one Infratil share for each warrant held. The price at which the share may be purchased is $4.12.

Given that Infratil shares can be purchased at a substantial discount to the warrant exercise price, no exercise of the warrants is anticipated.

A copy of the warrant prospectus and other information about the warrants is available on http://www.infratil.com/content/view/1943/120/

Infratil Limited 5 Market Lane, PO Box 320, Wellington 6140, New Zealand Tel +64-4-473 3663 Fax +64-4-473 2388 www.infratil.com