INFRATIL LIMITED. — Capital/Financing Update 2014

Aug 21, 2014

APPENDIX 7 - NZX CONDUCT RULES

TO FAX ++64-4-473-1470

Notice of event affecting securities

New Zealand Stock Exchange Listing Rule 7.12.2. For rights, Listing Rules 7.10.9 and 7.10.10. For change to allotment, Listing Rule 7.12.1, a separate advice is required.

Number of pages including this one (Please provide any other relevant details on additional pages)

Number of pages including this one (Please provide any other relevant New Zealand Stock Exchange Listing Rule 7.12.2. For rights, Listing Rules 7.10.9 and 7.10.10. details on additional pages) For change to allotment, Listing Rule 7.12.1, a separate advice is required. Notice of event affecting securities	Number of pages including this one (Please provide any other relevant New Zealand Stock Exchange Listing Rule 7.12.2. For rights, Listing Rules 7.10.9 and 7.10.10. details on additional pages) For change to allotment, Listing Rule 7.12.1, a separate advice is required. Notice of event affecting securities	Number of pages including this one (Please provide any other relevant New Zealand Stock Exchange Listing Rule 7.12.2. For rights, Listing Rules 7.10.9 and 7.10.10. details on additional pages) For change to allotment, Listing Rule 7.12.1, a separate advice is required. Notice of event affecting securities	Number of pages including this one (Please provide any other relevant New Zealand Stock Exchange Listing Rule 7.12.2. For rights, Listing Rules 7.10.9 and 7.10.10. details on additional pages) For change to allotment, Listing Rule 7.12.1, a separate advice is required. Notice of event affecting securities	Number of pages including this one (Please provide any other relevant New Zealand Stock Exchange Listing Rule 7.12.2. For rights, Listing Rules 7.10.9 and 7.10.10. details on additional pages) For change to allotment, Listing Rule 7.12.1, a separate advice is required. Notice of event affecting securities	Number of pages including this one (Please provide any other relevant New Zealand Stock Exchange Listing Rule 7.12.2. For rights, Listing Rules 7.10.9 and 7.10.10. details on additional pages) For change to allotment, Listing Rule 7.12.1, a separate advice is required. Notice of event affecting securities	Number of pages including this one (Please provide any other relevant New Zealand Stock Exchange Listing Rule 7.12.2. For rights, Listing Rules 7.10.9 and 7.10.10. details on additional pages) For change to allotment, Listing Rule 7.12.1, a separate advice is required. Notice of event affecting securities	Number of pages including this one (Please provide any other relevant New Zealand Stock Exchange Listing Rule 7.12.2. For rights, Listing Rules 7.10.9 and 7.10.10. details on additional pages) For change to allotment, Listing Rule 7.12.1, a separate advice is required. Notice of event affecting securities	Number of pages including this one (Please provide any other relevant New Zealand Stock Exchange Listing Rule 7.12.2. For rights, Listing Rules 7.10.9 and 7.10.10. details on additional pages) For change to allotment, Listing Rule 7.12.1, a separate advice is required. Notice of event affecting securities	Number of pages including this one (Please provide any other relevant New Zealand Stock Exchange Listing Rule 7.12.2. For rights, Listing Rules 7.10.9 and 7.10.10. details on additional pages) For change to allotment, Listing Rule 7.12.1, a separate advice is required. Notice of event affecting securities
Full name of Issuer	Infratil Limited
Name of officer authorised to make this notice					Authority for event, e.g. Directors' resolution
				Kevin Baker		Interest payment
Contact phone number		04 473 3663			04 473 2388		8 2014 22
Nature of event Bonus If ticked, Tick as appropriate Issue state whether: Taxable Rights Issue Capital					/ Non Taxable Conversion If ticked, state		Rights Issue Interest X Renouncable Full
non-renouncable change Call					Dividend whether: Interim
EXISTING securities affected by this If more than one Description of the class of securities Infratil 15 June 2016 Bonds					security is affected by the event, use a separate form. ISIN
			Infratil 15 June 2016 Bonds					NZIFTD0150S4
								If unknown, contact NZX

Details of securities issued pursuant to this event If more than one class of security is to be issued, use a separate form for each class. Description of the ISIN class of securities If unknown, contact NZX Number of Securities to Minimum Ratio, e.g be issued following event Entitlement 1 for 2 for Conversion, Maturity, Call Treatment of Fractions Payable or Exercise Date	Details of securities issued pursuant to this event If more than one class of security is to be issued, use a separate form for each class. Description of the ISIN class of securities If unknown, contact NZX Number of Securities to Minimum Ratio, e.g be issued following event Entitlement 1 for 2 for Conversion, Maturity, Call Treatment of Fractions Payable or Exercise Date	Details of securities issued pursuant to this event If more than one class of security is to be issued, use a separate form for each class. Description of the ISIN class of securities If unknown, contact NZX Number of Securities to Minimum Ratio, e.g be issued following event Entitlement 1 for 2 for Conversion, Maturity, Call Treatment of Fractions Payable or Exercise Date	Details of securities issued pursuant to this event If more than one class of security is to be issued, use a separate form for each class. Description of the ISIN class of securities If unknown, contact NZX Number of Securities to Minimum Ratio, e.g be issued following event Entitlement 1 for 2 for Conversion, Maturity, Call Treatment of Fractions Payable or Exercise Date	Details of securities issued pursuant to this event If more than one class of security is to be issued, use a separate form for each class. Description of the ISIN class of securities If unknown, contact NZX Number of Securities to Minimum Ratio, e.g be issued following event Entitlement 1 for 2 for Conversion, Maturity, Call Treatment of Fractions Payable or Exercise Date	Details of securities issued pursuant to this event If more than one class of security is to be issued, use a separate form for each class. Description of the ISIN class of securities If unknown, contact NZX Number of Securities to Minimum Ratio, e.g be issued following event Entitlement 1 for 2 for Conversion, Maturity, Call Treatment of Fractions Payable or Exercise Date	Details of securities issued pursuant to this event If more than one class of security is to be issued, use a separate form for each class. Description of the ISIN class of securities If unknown, contact NZX Number of Securities to Minimum Ratio, e.g be issued following event Entitlement 1 for 2 for Conversion, Maturity, Call Treatment of Fractions Payable or Exercise Date	Details of securities issued pursuant to this event If more than one class of security is to be issued, use a separate form for each class. Description of the ISIN class of securities If unknown, contact NZX Number of Securities to Minimum Ratio, e.g be issued following event Entitlement 1 for 2 for Conversion, Maturity, Call Treatment of Fractions Payable or Exercise Date
Description of the class of securities Number of Securities to be issued following event Conversion, Maturity, Call Payable or Exercise Date
							If unknown, contact NZX Ratio, e.g 1 for 2 for
Strike price per security for any issue in lieu or date Strike Price available. Enter N/A if not applicable				Tick if provide an paripassu OR explanation of the ranking

Monies Associated with Event Dividend payable, Call payable, Exercise price, Conversion price, Redemption price, Application money. In dollars and cents Source of Interest at 8.5% Payment Amount per security Currency NZD Supplementarydividend Amount per securityin dollars and cents $ details - Listing Rule 7.12.7 Total monies $2,125,000 Date Payable 15 September, 2014 Taxation Amount per Security in Dollars and cents to six decimal places In the case of a taxable bonus $ Resident $ Credits $ issue state strike price Withholding Tax (Give details) Timing (Refer Appendix 8 in the Listing Rules) Record Date 5pm Application Date For calculation of entitlements - Also, Call Payable, Dividend / must be the last business day of Interest Payable, Exercise Date, a week 5 September, 2014 Conversion Date. In the case 15 September, 2014 of applications this must be the last business day of the week.

Notice Date

Entitlement letters, call notices, conversion notices mailed

Allotment Date For the issue of new securities. Must be within 5 business days of record date.

OFFICE USE ONLY

Ex Date: Commence Quoting Rights: Cease Quoting Rights 5pm: Commence Quoting New Securities: Cease Quoting Old Security 5pm:

Security Code:

Security Code:

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APPENDIX 7 - NZX CONDUCT RULES

TO FAX ++64-4-473-1470

Notice of event affecting securities

New Zealand Stock Exchange Listing Rule 7.12.2. For rights, Listing Rules 7.10.9 and 7.10.10. For change to allotment, Listing Rule 7.12.1, a separate advice is required.

Number of pages including this one (Please provide any other relevant details on additional pages)

Number of pages including this one (Please provide any other relevant New Zealand Stock Exchange Listing Rule 7.12.2. For rights, Listing Rules 7.10.9 and 7.10.10. details on additional pages) For change to allotment, Listing Rule 7.12.1, a separate advice is required. Notice of event affecting securities	Number of pages including this one (Please provide any other relevant New Zealand Stock Exchange Listing Rule 7.12.2. For rights, Listing Rules 7.10.9 and 7.10.10. details on additional pages) For change to allotment, Listing Rule 7.12.1, a separate advice is required. Notice of event affecting securities	Number of pages including this one (Please provide any other relevant New Zealand Stock Exchange Listing Rule 7.12.2. For rights, Listing Rules 7.10.9 and 7.10.10. details on additional pages) For change to allotment, Listing Rule 7.12.1, a separate advice is required. Notice of event affecting securities	Number of pages including this one (Please provide any other relevant New Zealand Stock Exchange Listing Rule 7.12.2. For rights, Listing Rules 7.10.9 and 7.10.10. details on additional pages) For change to allotment, Listing Rule 7.12.1, a separate advice is required. Notice of event affecting securities	Number of pages including this one (Please provide any other relevant New Zealand Stock Exchange Listing Rule 7.12.2. For rights, Listing Rules 7.10.9 and 7.10.10. details on additional pages) For change to allotment, Listing Rule 7.12.1, a separate advice is required. Notice of event affecting securities	Number of pages including this one (Please provide any other relevant New Zealand Stock Exchange Listing Rule 7.12.2. For rights, Listing Rules 7.10.9 and 7.10.10. details on additional pages) For change to allotment, Listing Rule 7.12.1, a separate advice is required. Notice of event affecting securities	Number of pages including this one (Please provide any other relevant New Zealand Stock Exchange Listing Rule 7.12.2. For rights, Listing Rules 7.10.9 and 7.10.10. details on additional pages) For change to allotment, Listing Rule 7.12.1, a separate advice is required. Notice of event affecting securities	Number of pages including this one (Please provide any other relevant New Zealand Stock Exchange Listing Rule 7.12.2. For rights, Listing Rules 7.10.9 and 7.10.10. details on additional pages) For change to allotment, Listing Rule 7.12.1, a separate advice is required. Notice of event affecting securities	Number of pages including this one (Please provide any other relevant New Zealand Stock Exchange Listing Rule 7.12.2. For rights, Listing Rules 7.10.9 and 7.10.10. details on additional pages) For change to allotment, Listing Rule 7.12.1, a separate advice is required. Notice of event affecting securities	Number of pages including this one (Please provide any other relevant New Zealand Stock Exchange Listing Rule 7.12.2. For rights, Listing Rules 7.10.9 and 7.10.10. details on additional pages) For change to allotment, Listing Rule 7.12.1, a separate advice is required. Notice of event affecting securities
Full name of Issuer	Infratil Limited
Name of officer authorised to make this notice					Authority for event, e.g. Directors' resolution
				Kevin Baker		Interest payment
Contact phone number		04 473 3663			04 473 2388		8 2014 22
Nature of event Bonus If ticked, Tick as appropriate Issue state whether: Taxable Rights Issue Capital					/ Non Taxable Conversion If ticked, state		Rights Issue Interest X Renouncable Full
non-renouncable change Call					Dividend whether: Interim
EXISTING securities affected by this If more than one Description of the class of securities Infratil 15 June 2017 Bonds					security is affected by the event, use a separate form. ISIN
			Infratil 15 June 2017 Bonds					NZIFTD0160S3
								If unknown, contact NZX

Details of securities issued pursuant to this event If more than one class of security is to be issued, use a separate form for each class. Description of the ISIN class of securities If unknown, contact NZX Number of Securities to Minimum Ratio, e.g be issued following event Entitlement 1 for 2 for Conversion, Maturity, Call Treatment of Fractions Payable or Exercise Date	Details of securities issued pursuant to this event If more than one class of security is to be issued, use a separate form for each class. Description of the ISIN class of securities If unknown, contact NZX Number of Securities to Minimum Ratio, e.g be issued following event Entitlement 1 for 2 for Conversion, Maturity, Call Treatment of Fractions Payable or Exercise Date	Details of securities issued pursuant to this event If more than one class of security is to be issued, use a separate form for each class. Description of the ISIN class of securities If unknown, contact NZX Number of Securities to Minimum Ratio, e.g be issued following event Entitlement 1 for 2 for Conversion, Maturity, Call Treatment of Fractions Payable or Exercise Date	Details of securities issued pursuant to this event If more than one class of security is to be issued, use a separate form for each class. Description of the ISIN class of securities If unknown, contact NZX Number of Securities to Minimum Ratio, e.g be issued following event Entitlement 1 for 2 for Conversion, Maturity, Call Treatment of Fractions Payable or Exercise Date	Details of securities issued pursuant to this event If more than one class of security is to be issued, use a separate form for each class. Description of the ISIN class of securities If unknown, contact NZX Number of Securities to Minimum Ratio, e.g be issued following event Entitlement 1 for 2 for Conversion, Maturity, Call Treatment of Fractions Payable or Exercise Date	Details of securities issued pursuant to this event If more than one class of security is to be issued, use a separate form for each class. Description of the ISIN class of securities If unknown, contact NZX Number of Securities to Minimum Ratio, e.g be issued following event Entitlement 1 for 2 for Conversion, Maturity, Call Treatment of Fractions Payable or Exercise Date	Details of securities issued pursuant to this event If more than one class of security is to be issued, use a separate form for each class. Description of the ISIN class of securities If unknown, contact NZX Number of Securities to Minimum Ratio, e.g be issued following event Entitlement 1 for 2 for Conversion, Maturity, Call Treatment of Fractions Payable or Exercise Date	Details of securities issued pursuant to this event If more than one class of security is to be issued, use a separate form for each class. Description of the ISIN class of securities If unknown, contact NZX Number of Securities to Minimum Ratio, e.g be issued following event Entitlement 1 for 2 for Conversion, Maturity, Call Treatment of Fractions Payable or Exercise Date
Description of the class of securities Number of Securities to be issued following event Conversion, Maturity, Call Payable or Exercise Date
							If unknown, contact NZX Ratio, e.g 1 for 2 for
Strike price per security for any issue in lieu or date Strike Price available. Enter N/A if not applicable				Tick if provide an paripassu OR explanation of the ranking

Monies Associated with Event Dividend payable, Call payable, Exercise price, Conversion price, Redemption price, Application money. In dollars and cents Source of Interest at 8.5% Payment Amount per security Currency NZD Supplementarydividend Amount per securityin dollars and cents $ details - Listing Rule 7.12.7 Total monies $1,408,548 Date Payable 15 September, 2014 Taxation Amount per Security in Dollars and cents to six decimal places In the case of a taxable bonus $ Resident $ Credits $ issue state strike price Withholding Tax (Give details) Timing (Refer Appendix 8 in the Listing Rules) Record Date 5pm Application Date For calculation of entitlements - Also, Call Payable, Dividend / must be the last business day of Interest Payable, Exercise Date, a week 5 September, 2014 Conversion Date. In the case 15 September, 2014 of applications this must be the last business day of the week.

Notice Date

Entitlement letters, call notices, conversion notices mailed

Allotment Date For the issue of new securities. Must be within 5 business days of record date.

OFFICE USE ONLY

Ex Date: Commence Quoting Rights: Cease Quoting Rights 5pm: Commence Quoting New Securities: Cease Quoting Old Security 5pm:

Security Code:

Security Code:

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APPENDIX 7 - NZX CONDUCT RULES

TO FAX ++64-4-473-1470

Notice of event affecting securities

New Zealand Stock Exchange Listing Rule 7.12.2. For rights, Listing Rules 7.10.9 and 7.10.10. For change to allotment, Listing Rule 7.12.1, a separate advice is required.

Number of pages including this one (Please provide any other relevant details on additional pages)

Number of pages including this one (Please provide any other relevant New Zealand Stock Exchange Listing Rule 7.12.2. For rights, Listing Rules 7.10.9 and 7.10.10. details on additional pages) For change to allotment, Listing Rule 7.12.1, a separate advice is required. Notice of event affecting securities	Number of pages including this one (Please provide any other relevant New Zealand Stock Exchange Listing Rule 7.12.2. For rights, Listing Rules 7.10.9 and 7.10.10. details on additional pages) For change to allotment, Listing Rule 7.12.1, a separate advice is required. Notice of event affecting securities	Number of pages including this one (Please provide any other relevant New Zealand Stock Exchange Listing Rule 7.12.2. For rights, Listing Rules 7.10.9 and 7.10.10. details on additional pages) For change to allotment, Listing Rule 7.12.1, a separate advice is required. Notice of event affecting securities	Number of pages including this one (Please provide any other relevant New Zealand Stock Exchange Listing Rule 7.12.2. For rights, Listing Rules 7.10.9 and 7.10.10. details on additional pages) For change to allotment, Listing Rule 7.12.1, a separate advice is required. Notice of event affecting securities	Number of pages including this one (Please provide any other relevant New Zealand Stock Exchange Listing Rule 7.12.2. For rights, Listing Rules 7.10.9 and 7.10.10. details on additional pages) For change to allotment, Listing Rule 7.12.1, a separate advice is required. Notice of event affecting securities	Number of pages including this one (Please provide any other relevant New Zealand Stock Exchange Listing Rule 7.12.2. For rights, Listing Rules 7.10.9 and 7.10.10. details on additional pages) For change to allotment, Listing Rule 7.12.1, a separate advice is required. Notice of event affecting securities	Number of pages including this one (Please provide any other relevant New Zealand Stock Exchange Listing Rule 7.12.2. For rights, Listing Rules 7.10.9 and 7.10.10. details on additional pages) For change to allotment, Listing Rule 7.12.1, a separate advice is required. Notice of event affecting securities	Number of pages including this one (Please provide any other relevant New Zealand Stock Exchange Listing Rule 7.12.2. For rights, Listing Rules 7.10.9 and 7.10.10. details on additional pages) For change to allotment, Listing Rule 7.12.1, a separate advice is required. Notice of event affecting securities	Number of pages including this one (Please provide any other relevant New Zealand Stock Exchange Listing Rule 7.12.2. For rights, Listing Rules 7.10.9 and 7.10.10. details on additional pages) For change to allotment, Listing Rule 7.12.1, a separate advice is required. Notice of event affecting securities	Number of pages including this one (Please provide any other relevant New Zealand Stock Exchange Listing Rule 7.12.2. For rights, Listing Rules 7.10.9 and 7.10.10. details on additional pages) For change to allotment, Listing Rule 7.12.1, a separate advice is required. Notice of event affecting securities
Full name of Issuer	Infratil Limited
Name of officer authorised to make this notice					Authority for event, e.g. Directors' resolution
				Kevin Baker		Interest payment
Contact phone number		04 473 3663			04 473 2388		8 2014 22
Nature of event Bonus If ticked, Tick as appropriate Issue state whether: Taxable Rights Issue Capital					/ Non Taxable Conversion If ticked, state		Rights Issue Interest X Renouncable Full
non-renouncable change Call					Dividend whether: Interim
EXISTING securities affected by this If more than one Description of the class of securities Infratil 15 June 2022 Bonds					security is affected by the event, use a separate form. ISIN
			Infratil 15 June 2022 Bonds					NZIFTD0190S0
								If unknown, contact NZX

Details of securities issued pursuant to this event If more than one class of security is to be issued, use a separate form for each class. Description of the ISIN class of securities If unknown, contact NZX Number of Securities to Minimum Ratio, e.g be issued following event Entitlement 1 for 2 for Conversion, Maturity, Call Treatment of Fractions Payable or Exercise Date	Details of securities issued pursuant to this event If more than one class of security is to be issued, use a separate form for each class. Description of the ISIN class of securities If unknown, contact NZX Number of Securities to Minimum Ratio, e.g be issued following event Entitlement 1 for 2 for Conversion, Maturity, Call Treatment of Fractions Payable or Exercise Date	Details of securities issued pursuant to this event If more than one class of security is to be issued, use a separate form for each class. Description of the ISIN class of securities If unknown, contact NZX Number of Securities to Minimum Ratio, e.g be issued following event Entitlement 1 for 2 for Conversion, Maturity, Call Treatment of Fractions Payable or Exercise Date	Details of securities issued pursuant to this event If more than one class of security is to be issued, use a separate form for each class. Description of the ISIN class of securities If unknown, contact NZX Number of Securities to Minimum Ratio, e.g be issued following event Entitlement 1 for 2 for Conversion, Maturity, Call Treatment of Fractions Payable or Exercise Date	Details of securities issued pursuant to this event If more than one class of security is to be issued, use a separate form for each class. Description of the ISIN class of securities If unknown, contact NZX Number of Securities to Minimum Ratio, e.g be issued following event Entitlement 1 for 2 for Conversion, Maturity, Call Treatment of Fractions Payable or Exercise Date	Details of securities issued pursuant to this event If more than one class of security is to be issued, use a separate form for each class. Description of the ISIN class of securities If unknown, contact NZX Number of Securities to Minimum Ratio, e.g be issued following event Entitlement 1 for 2 for Conversion, Maturity, Call Treatment of Fractions Payable or Exercise Date	Details of securities issued pursuant to this event If more than one class of security is to be issued, use a separate form for each class. Description of the ISIN class of securities If unknown, contact NZX Number of Securities to Minimum Ratio, e.g be issued following event Entitlement 1 for 2 for Conversion, Maturity, Call Treatment of Fractions Payable or Exercise Date	Details of securities issued pursuant to this event If more than one class of security is to be issued, use a separate form for each class. Description of the ISIN class of securities If unknown, contact NZX Number of Securities to Minimum Ratio, e.g be issued following event Entitlement 1 for 2 for Conversion, Maturity, Call Treatment of Fractions Payable or Exercise Date
Description of the class of securities Number of Securities to be issued following event Conversion, Maturity, Call Payable or Exercise Date
							If unknown, contact NZX Ratio, e.g 1 for 2 for
Strike price per security for any issue in lieu or date Strike Price available. Enter N/A if not applicable				Tick if provide an paripassu OR explanation of the ranking

Monies Associated with Event Dividend payable, Call payable, Exercise price, Conversion price, Redemption price, Application money. In dollars and cents Source of Interest at 6.85% Payment Amount per security Currency NZD Supplementarydividend Amount per securityin dollars and cents $ details - Listing Rule 7.12.7 Total monies $1,604,544 Date Payable 15 September, 2014 Taxation Amount per Security in Dollars and cents to six decimal places In the case of a taxable bonus $ Resident $ Credits $ issue state strike price Withholding Tax (Give details) Timing (Refer Appendix 8 in the Listing Rules) Record Date 5pm Application Date For calculation of entitlements - Also, Call Payable, Dividend / must be the last business day of Interest Payable, Exercise Date, a week 5 September, 2014 Conversion Date. In the case 15 September, 2014 of applications this must be the last business day of the week.

Notice Date

Entitlement letters, call notices, conversion notices mailed

Allotment Date For the issue of new securities. Must be within 5 business days of record date.

OFFICE USE ONLY

Ex Date: Commence Quoting Rights: Cease Quoting Rights 5pm: Commence Quoting New Securities: Cease Quoting Old Security 5pm:

Security Code:

Security Code:

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