INFRATIL LIMITED. — Director's Dealing 2012

Jun 20, 2012

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DISCLOSURE NOTICE

Disclosure of Directors and Officers Relevant Interests

(Section 19T, Securities Markets Act 1988)

A. Disclosure obligation (tick box to note which disclosure obligation applies)

Initial disclosure (complete Parts A, B, C, D, F, and G of this notice) Ongoing disclosure (complete Parts A, B, C, E, F and G of this notice)

x

B. Preliminary

1. Name

2. NZX company code of issuer Name of issuer

3. Name of related body corporate (if applicable)

4. Position you hold in the issuer

• 5 . Date of this disclosure notice

Tim Brown IFT Infratil Limited NA Executive 21-Jun-12

C. Nature of relevant interest

1. Name of registered holder(s) of security (as required by regulation 6A(b) or regulation 7(b))

2. Class and type of security (as required by regulation 6B or regulation 8)

• 8 . Nature of relevant interest in security (as required by regulation 6A (a) or regulation 7(a))

Tim Brown, Gael Webster and Richard Broad Ordinary Shares Beneficial

D. Date (for initial disclosure)

1. Date of disclosure obligation (as required by regulation 6C)

E. Transaction (for ongoing disclosure)

1. Date of last disclosure (as required by regulation 13)

2. Date(s) of acquisition(s) or disposal(s) (as required by regulation 9)

3. Number of transactions (as required by regulation 12(2), if applicable)

4. Nature or type of transaction (as required by regulation 11(1)(a))

5. Consideration (as required by regulation 10)

6. Number of securities held prior, set out by class and type (as required by regulation 8)

7. Number of securities subject to acquisition or disposal (as required by regulation 11(1)(b))

F. Extent of relevant interest

1. Number of securities held now, set out by class and type (as required by regulation 6B or regulation 8)

Signature (as required by regulation 14)

N/A 21-Jun-11 15-Jun-12 1 Purchase of 10,142 ordinary shares under DRP Ordinary shares NZ$20,214.02 428,980 Ordinary shares Ordinary shares acquired 10,142 439,122 Ordinary shares

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