INFRATIL LIMITED. — Director's Dealing 2020

Nov 9, 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: 9-Nov-20 Date of last disclosure: 9-Oct-20

Director or senior manager giving disclosure

Full name(s): Paul Newfield Name of listed issuer: Infratil Limited (IFT) Name of related body corporate (if applicable): Tilt Renewables Limited (TLT) Name of related body corporate (if applicable): Position held in listed issuer: Senior Manager

Summary of acquisition or disposal of relevant interest (excluding specified derivatives)

Class of affected quoted financial products: Ordinary shares in TLT Beneficial ownership of ordinary shares Nature of the affected relevant interest(s): in TLT, subject to restrictions under the Directors' Fixed Trading Plan For that relevant interest- Number held in class before acquisition or disposal: 81,210 Number held in class after acquisition or disposal: 82,218 Current registered holder(s): Unknown Bell Gully Trustee Company Limited Registered holder(s) once transfers are registered: (BGTCL)

Details of transactions giving rise to acquisition or disposal

Total number of transactions to which notice relates:

Details of transactions requiring disclosure-

Date of transaction: 3-Nov-20 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 Bell Gully Trustee Company Nature of transaction: Limited Name of any other partpy or parties to the transaction (if knownp ): Unknown 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: $ 3,927.87 Number of financial products to which the transaction related: 1,008

1

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 relevant interests were acquired or disposed of during a closed No Whether prior written clearance was provided to allow the acquisition or disposal to proceed during the closed period: Date of the prior written clearance (if any):

Summary of other relevant interests after acquisition or disposal:

Class of quoted financial products: Ordinary shares in IFT Nature of relevant interest: Registered holder and beneficial owner For that relevant interest,- Number held in class: 294,060 Current registered holder(s): Paul Newfield For a derivative relevant interest,- Type of derivative:

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 for whom it is made.
Signature of person authorised to sign on behalf of director or officer:
Date of signature:		9-Nov-20
Name and title of authorised person:		Nicholas Lough, Company Secretary