INFRATIL LIMITED. — Director's Dealing 2020

May 11, 2020

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Ongoing Disclosure Notice

Disclosure of Directors and Senior Managers Relevant Interests Sections 297(2) and 298(2), Financial Markets Conduct Act 2013

To NZX Limited; and
Name of listed issuer:		Infratil Limited
Date this disclosure made:		11-May-20
Date of last disclosure:		27-Apr-20
Director or senior managergiving disclosure
Full name(s):		Paul Newfield
Name of listed issuer:		Infratil Limited (IFT)
Name of related body corporate (ifapplicable):		Tilt Renewables Limited(TLT)
Name of related body corporate (ifapplicable):
Position held in listed issuer:		Senior Manager

To NZX Limited; and
Name of listed issuer:		Infratil Limited
Date this disclosure made:		11-May-20
Date of last disclosure:		27-Apr-20
Director or senior managergiving disclosure
Full name(s):		Paul Newfield
Name of listed issuer:		Infratil Limited (IFT)
Name of related body corporate (ifapplicable):		Tilt Renewables Limited(TLT)
Name of related body corporate (ifapplicable):
Position held in listed issuer:		Senior Manager
Summary of acquisition or disposal of relevant interest (excluding specified derivatives) Class ofaffected quotedfinancialproducts: Ordinaryshares in TLT Nature of the affected relevant interest(s): Beneficial ownership of ordinary shares in TLT For that relevant interest- Number held in class before acquisition or disposal: 93,904 Number held in class after acquisition or disposal: 95,140 Current registered holder(s): Unknown Registered holder(s) once transfers are registered: Bell Gully Trustee Company Limited (BGTCL) Details of transactions giving rise to acquisition or disposal
		Ordinaryshares in TLT
		Beneficial ownership of ordinary shares in TLT
		93,904
		95,140
		Unknown
		Bell Gully Trustee Company Limited (BGTCL)
Details of transactions giving rise to acquisition or disposal
Total numberoftransactions towhich noticerelates:		1
Date oftransaction:		1-May-20
Nature of transaction:		Ordinary shares in TLT were purchased on market by the manager in accordance with the terms of the Fixed Trading Plan. Under this transaction, the shares have been transferred by the manager to BGTCL.
Name ofany otherparty orparties to the transaction(if known):		Unknown
The consideration, expressed in New Zealand dollars, paid or received for the acquisition or disposal. If the consideration was not in cash and cannot be readily by converted into a cash value,describe the consideration:		3,956.19
Numberof financialproducts towhichthe transaction related:		1,236
If the issuer has a financial products trading policy that prohibits directors or senior managers from trading during any period without written clearance (a closed period) include the following details—
Whether relevantinterestswere acquired ordisposed ofduring a closed period:		No
Whether prior written clearance was provided to allow the acquisition or disposal to proceed duringthe closedperiod:
Date of theprior written clearance(if any):
Summary of other relevant interests after acquisition or disposal: Class ofquotedfinancialproducts: Nature of relevant interest:
Class ofquotedfinancialproducts:		Ordinaryshares in IFT
Nature of relevant interest:		Registered holder and beneficial owner

_For that relevant interest,- _	_For that relevant interest,- _
Number heldinclass:		294,060
Currentregisteredholder(s):		Paul Newfield
For a derivative relevant interest,- Type ofderivative: Certification I certify that, to the best of my knowledge and belief, the information contained in this disclosure is correct and that I am duly authorised to make this disclosure by all persons Signature of person authorised to sign on behalf of director or officer: Date of signature: Name and title of authorised person:
		11-May-20
		Nicholas Lough, Company Secretary