INFRATIL LIMITED. — Share Issue/Capital Change 2016

Dec 22, 2016

==> picture [56 x 64] intentionally omitted <==

22 December 2016

2013 Infratil Executive Redeemable Share Scheme

The following information is provided in accordance with NZX Listing Rule 7.12.1:

Class of security: Infratil Ordinary Shares ISIN: NZIFTE0003S3 Number of Executive Redeemable Shares issued: 237,521 Issue price (average): $2.3180 Date of Conversion: 22 December 2016 Payment of initial call due: $0.01 per share received 17 December 2013. Amount paid up/to be paid up: Paid in cash in full. Percentage of the total class of securities issued (after the issuance): 0.042% Reason for the issue: Executive Redeemable Shares converted into Infratil Ordinary Shares pursuant to the Trust Deed. Specific authority for the issue: Automatic conversion of Executive Redeemable Shares into Infratil Ordinary Shares, pursuant to the Trust Deed Terms or Details of the issue: Conversion of 237,521 Executive Redeemable Shares into Infratil Ordinary Shares pursuant to the Trust Deed. Total number of Shares in existence after the issue: 567,063,166 Total number of Ordinary Shares in existence after the issue and after deduction of Treasury Stock: 561,053,166

Phillippa Harford Company Secretary

Infratil Limited 5 Market Lane, PO Box 320, Wellington, New Zealand Tel +64-4-473 3663 www.infratil.com