INFRATIL LIMITED. — Capital/Financing Update 2018

Apr 19, 2018

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
				Phillippa Harford		Interest payment
Contact phone number		04 473 3663			04 473 2388		4 2018 20
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 February 2020 Bonds					security is affected by the event, use a separate form. ISIN
			Infratil 15 February 2020 Bonds					NZIFTD0009S2
								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 Enter N/A if not Tick if provide an applicable pari passu OR explanation Strike price per security for any issue in lieu or date of the Strike Price available. 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 $1,668,395 Date Payable 15 May, 2018 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 4 May, 2018 Conversion Date. In the case 15 May, 2018 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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