Infratil Limited · NZX:IFT
Infratil — Investor Day (February 2021)
125 slides from Infratil's investor day presentation, Feb 16, 2021
Slide 1: Infratil 2021 Investor Day
16 February 2021 For personal use only Infratil 2021 Investor Day Infratil has released the presentation material for its annual Investor Day, which this year is fully virtual. Presentations will be recorded during the day and will be available to view on www.infratil.com after the event. Infratil's
Slide 2: Portfolio Update and Outlook
Infratil Investor Day For personal use only Portfolio Update and Outlook Marko Bogoievski, Jason Boyes & Phillippa Harford 16 February 2021
Slide 3: Disclaimer
Disclaimer This presentation has been prepared by Infratil Limited (NZ company number 597366, NZX:IFT; ASX:IFT) (Company). To the maximum extent permitted by law, the Company, its affiliates and each of their respective affiliates, related bodies corporate, directors, officers, partners, employees a
Slide 4: Leadership
Leadership Long-term stability For personal use only supported by the depth and capability of Morrison & Co Marko Bogoievski Jason Boyes Phillippa Harford • Infratil Chief Executive • Infratil Chief Executive • Infratil Chief Financial Officer and a Director for Officer and a Director Officer since
Slide 5: Infratil Model
Infratil Model Established in At Inception: Today: 1994 to For personal use only • Opportunity to invest in attractive • Over $8.0 billion invested in established “provide a unlisted ventures which might not otherwise be available to the individual platforms across New Zealand, Australia, the United
Slide 6: Shareholder returns
Shareholder returns Infratil Share Price Translating 8.00 For personal use only underlying value 7.00 creation into total shareholder 6.00 returns 5.00 4.00 Total Shareholder Return Period TSR 3.00 3 Year 39.7% 2.00 5 Year 23.3% 10 Year 20.3% 1.00 Inception – 27 years 18.9% - 2011 2012 2013 2014 201
Slide 7: Infratil Value
Infratil Value Unique portfolio • Portfolio targeting a balance of core, core+ supported and development returns across several For personal use only sectors and jurisdictions by several high • AustralianSuper takeover approach is a real- conviction time endorsement of the quality of our assets plat
Slide 8: Infratil's Investment Proposition
Infratil’s Investment • Infratil is a modern infrastructure investor targeting returns to shareholders of Proposition For personal use only 11-15% p.a. over the long-term Infratil is well • Investment activity is focused on finding sectors and businesses with positioned in ✓ strong defensive charact
Slide 9: Infratil's Investment Proposition
Infratil’s Decarbonisation Connectivity Aging Population Global Mobility Investment • Climate change is an • Increasingly connected, • Post war population bubble • Increasingly connected and established threat to integrated world reaching retirement age well-travelled world humanity • Rising middle
Slide 10: Infratil's Investment Proposition
Infratil’s Water Scarcity Waste & Recycling Healthcare Next Generation Investment • Increasing water demand • Population & economic • Strong healthcare systems • Productivity is flat lining globally growth drive increasing are required for societies to and limiting future growth waste output functio
Slide 11: Portfolio Composition
Portfolio Composition Infratil is a high For personal use only 8% 4% 18% conviction 4% 8% investor with 8% significant 41% positions in four 13% 21% main sectors 42% 29% Renewable Energy Trustpower Tilt Renewables Digital Infrastructure CDC Data Centres Vodafone New Zealand Airports Wellington Airpo
Slide 12: Portfolio Composition
Portfolio Composition Overall For personal use only exposures 23% are balanced to 15-20% 37% generate overall 46% p.a. 8-10% p.a. target returns 51% 10-15% and to optimise p.a. capital structure 40% New Zealand Core Core+ Australia Development USA Infratil Investor Day – 16 February 2021 11
Slide 13: COVID-19
COVID-19 Our response to the pandemic has For personal use only demonstrated the benefits of Wellington International Airport RetireAustralia • Forecast FY2021 forecast of $35 million (prior to • Resident and employee safety remains the top sector and charges in alert levels on 14 February) severely
Slide 14: FY2021 Guidance
FY2021 Guidance Performance • Forecast FY2021 Proportionate EBITDAF from continuing EBITDAF range For personal use only operations of $440 million -$470 million1 has tightened as • Proportionate EBITDAF includes the proportion of the EBITDAF of each portfolio company based on Infratil’s level of ben
Slide 15: Incentive Fees
Incentive Fees Reflection of • Infratil’s international investments are eligible for incentive fees under the Management Agreement with management’s For personal use only Morrison & Co ability to • The Agreement allows for incentives to be payable for outperformance in excess of a minimum hurdle of
Slide 16: Debt Capacity & Liquidity
Debt Capacity As at As at As at & Liquidity (NZ$ Million) 31 March 2020 30 September 2020 31 January 2021 Strong capital Net bank debt 471 86 357 • As at 31 January 2021, cash on hand For personal use only Infratil Infrastructure bonds 1,072 1,072 1,120 and undrawn debt facilities provide position a
Slide 17: Infratil's Future Outlook
Infratil’s Future • Infratil’s focus remains on maintaining a balanced portfolio of scaled platforms that Outlook For personal use only can generate attractive non-correlated returns Unique portfolio • The model requires Infratil to identify the next generation of essential services and assets and i
Slide 18: Questions
Questions Infratil Portfolio Construction For personal use only and Growth Outlook
Slide 19: Renewables Sector Overview
For personal use only Renewables Sector Overview Vimal Vallabh 16 February 2021
Slide 20: Renewables Sector Overview
Renewables Sector • Renewables represents one of the single largest investment opportunities in history with over Overview For personal use only US$4 trillion of investment in wind and solar assets forecast over the next decade One of the • Infratil is one of the pioneers in renewables investment la
Slide 21: A Global Renewables Footprint
A Global Renewables Footprint Infratil is one of the pioneers in renewables investment For personal use only Europe • Established February 2020 • Wind, Solar & Storage • ~1,000MW development pipeline • 16 Employees Australia & New Zealand • Established October 2016 North America • Wind, Solar & Stor
Slide 22: Investment Thesis and Development Perspectives
For personal use only Investment Thesis and Development Perspectives Ingmar Wilhelm Chief Executive Infratil Investor Day Galileo Green Energy | Infratil Investor Day | 16 February 2021
Slide 23: Agenda
Agenda 1. Renewable Energies in Europe 2. Galileo Green Energy Investment Thesis For personal use only 3. After 1 year 4. Development Perspectives Galileo Green Energy | Infratil Investor Day | 16 February 2021
Slide 24: Renewable Energies in Europe: the fundamentals
1. Renewable Energies in Europe: the fundamentals Renewable Energies provide a positive response Europe is a large and cohesive market with For personal use only to all 4 parameters of a good energy mix internationally leading policies and commitment │ Europe ➢ c. 500 million people SECURE AFFORDABL
Slide 25: Renewable Energies in Europe: outstanding growth trajectory
1. Renewable Energies in Europe: outstanding growth trajectory Renewable Energy is set to increase its share in Europe’s Outstanding development and investment For personal use only power mix by c. 900TWh covering over 60% by 2030 opportunity in a very large market TWh 600 + 522 GW 3.354 3.598 500 3
Slide 26: Key competences and market strategy
2. Galileo Green Energy: key competences and market strategy Differentiation through combination of 4 key Galileo Green Energy’s For personal use only competences in this new era of renewables Market Strategy Develop the most competitive projects in their Competitive Development respective markets t
Slide 27: Investment Thesis and Positioning
2. For personal use only Galileo Green Energy: Investment Thesis and Positioning Investment Thesis Value creation through ➢ competence-driven and fast-moving development of flexibly financed projects, ➢ predominantly green-field in an expanding market, ➢ with risks mitigated through geographical and
Slide 28: Galileo Green Energy: year after our start
3. For personal use only Galileo Green Energy : 1 year after our start At the start Today │ Created in February 2020 │ 16 people │ Capital commitment for development of €220m │ 4 Joint Development Agreements │ Evergreen capital │ Total pipeline of ca. 1GW supporting an open-ended │ 4 markets address
Slide 29: European Management Team
3. For personal use only Galileo Green Energy’s European Management Team Nikolaus Mainka Ingmar Wilhelm Paolo Grossi │ Chief Financial Officer │ Chief Executive Officer │ Chief Commercial Officer │ 12 years of experience with │ 30 years of experience with E.ON, ENEL, │ 30 years of experience with EN
Slide 30: Current portfolio of Joint Development Agreements
3. Galileo Green Energy’s current portfolio of Joint Development Agreements EMP Energy GGE Nordics For personal use only (GGE share 50%) (GGE share 80%) │ c. 400MW wind pipeline in Ireland │ c. 1,000MW wind pipeline in the UK and Sweden │ Partners are EMP (local developer) and VESTAS │ Partner is a
Slide 31: Case study of GGE Nordics
3. For personal use only Galileo Green Energy’s current portfolio of JDAs: case study of GGE Nordics GGE Nordics │ c. 1,000MW wind pipeline │ Markets: UK and Sweden │ Technology: wind onshore │ Joint Venture: 80% GGE and 20% highly qualified Northern European developer │ Target pipeline of at least
Slide 32: Growth Plan: Quantitative Development Perspectives
4. For personal use only Our Growth Plan: Quantitative Development Perspectives Target Growth Plan of Galileo Green Energy Investable projects Ramp up to c.300 to 500MW per year Investment potential of €300 to €500m per year, Investments with ample sell-down opportunities in an deep market 10GW of q
Slide 33: Growth Plan: Qualitative Development Perspectives
4. For personal use only Our Growth Plan: Qualitative Development Perspectives Who Energy, development and investment experts we are What Create projects and implement we do green energy solutions Responsible, transparent, swift, Shared diverse, Principles united! Why we do it Passion for energy, ec
Slide 34: Questions
For personal use only Galileo Green Energy Management Services Srl Questions Bastioni di Porta Nuova 21 I-20121 Milano Galileo Green Energy GmbH Usteristrasse 12 CH-8001 Zurich info@galileogreenenergy.com Tel. +39 02 8904 1609 www.galileogreenenergy.com
Slide 35: Longroad Energy Investor Day
For personal use only Investor Day February 16, 2021
Slide 36: Confidentiality
CONFIDENTIALITY For personal use only The information set forth in this document (including any written materials provided herewith) is proprietary and shall be maintained in strict confidence. Each recipient hereof acknowledges and agrees that the contents of this presentation (i) constitute propri
Slide 37: Key Messages
Key Messages For personal use only Solid 2020 in the Face of COVID-19 Climate Push 2021/22 Presents Growth is Further Identified Weaver Upside Upsized Capital by $100 mm COPYRIGHT © LONGROAD ENERGY HOLDINGS, LLC. STRICTLY CONFIDENTIAL. 3
Slide 38: Business Overview
Business Overview (at 2/15/21) LONGROAD ENERGY For personal use only PARTNERS, LLC Longroad Energy • 36 personnel, including corporate Holdings, LLC services and management Opco Devco Servicesco • 1.6 GW total / 13 • 2.0 GW developed • 3.4 GW under contractWeaver projects/portfolios • 0.9 GW acquire
Slide 39: Numbers
Numbers Portfolio Since Inception (GW) For personal use only 0.9 • 4.5 years since inception 2.0 • 126 Employees 1.6 (1.3) • 0 Recordable Safety incidents in 2020 • 3.4 GW under contract (services) • $6.4 billion capital raised ITD Weaver Wind v. Solar (GW) • $1.8 billion capital in 2020 0.9 • ~60%
Slide 40: Opco 2020
Opco 2020 For personal use only • Strategic goal to double 2019 Opco capacity (~1 GW) Opco MW — Provides ballast for the whole business: 12/31/2019 995 distributions can help fund Devco growth; Small MN Wind 30 overhead absorption Little Bear 108 — Embedded option value to extract more value with te
Slide 41: Devco 2020
Devco 2020 For personal use only Devco MW 12/31/2019 1,162 Little Bear 215 Muscle Shoals 294 Prospero 2 331 Total EOY 2020 2,002 Growth 72% • 840 MW across three deals in three different regions — California, Texas, Alabama — Cross-section of power buyers: Community Choice Aggregators, Data Centers,
Slide 42: Serviceco 2020
Serviceco 2020 For personal use only Serviceco MW 12/31/2019 2,245 Small MN Wind 30 Little Bear 215 Prospero 2 331 CPS Energy (54) MN Wind (80) Blackrock 449 Total EOY 2020 3,136 Growth 40% Total excludes SS2 as it closed in 2021 Growing Relationships with Handful of Key Institutions COPYRIGHT © LON
Slide 43: Capital Base
Capital Base (US $ millions) For personal use only Capital Turns (inception to 12/31/20) Capital Increased • Cash Commitment - $125 mm (US $ millions) @ 1/1/20 @ 1/1/21 — $203 mm capital called LEH Cash Facility 125 175 — Turned over 1.6x LEH LC Facility 150 150 LEH Revolver - 50 • LC Facility - $15
Slide 44: 2021/22 Identified Growth: 1.8 GW
2021/22 Identified Growth: 1.8 GW For personal use only MaineE Utility Solar 140 MWdc Utah Solar and Storage Maine DG Solar 1 260 MWdc + storage 27 MWdc Maine DG Solar 2 45 MWdc CA Solar and Storage 260 MWdc + storage Sun Streams 2 Foxhound Solar 199 MWdc 108 MWdc Sun Streams 4 Seven Bridges Solar 1
Slide 45: Sun Streams
Sun Streams Palo Verde Nuclear Plant For personal use only 4 GW Sun Streams Complex • Acquired from First Solar • SS2 – 200 MWdc (PPA with Microsoft) • SS4/5 – 700 MWdc • Access to CA and AZ markets • Storage potential for SS4/5 COPYRIGHT © LONGROAD ENERGY HOLDINGS, LLC. STRICTLY CONFIDENTIAL. 11
Slide 46: The Energy Transition
The “Energy Transition” For personal use only COPYRIGHT © LONGROAD ENERGY HOLDINGS, LLC. STRICTLY CONFIDENTIAL. 12
Slide 47: The Energy Transition: 2020 to 2050
The Energy Transition: 2020 to 2050 (units are Exajoules) For personal use only • Massive growth in renewables All figures are in exajoules 2020 2050 % change Solar + Wind 1.7 40.8 +2,300 • Natural gas and petroleum down Natural Gas 31.4 8.3 (73.6) • World will be more Petroleum 39.0 4.4 (88.7) elec
Slide 48: 2035 Net-Zero Carbon Electricity
2035 Net-Zero Carbon Electricity (for perspective) For personal use only • Rapid acceleration of clean energy buildout in order to meet 2035 net-zero carbon electric sector target • 70-80 GW per year of wind and solar capacity additions, requiring > US$100 billion private capital • United States’ be
Slide 49: Thank you
For personal use only Thank you!!
Slide 50: Healthcare Sector Overview
For personal use only Healthcare Sector Overview Paul Newfield 16 February 2021
Slide 51: Healthcare is an essential service globally
Healthcare is an essential service globally A clear path to building a scale healthcare infrastructure platform For personal use only Australia • Invested in 2020 • Qscan is a comprehensive diagnostic imaging business operating predominantly on the eastern seaboard of Australia • Qscan is one of Aus
Slide 52: We are getting older
We are getting older Addressing the needs of a growing and ageing population For personal use only Age Structure in 1980 Age Structure in 2020 Age Structure in 2050 300 200 100 0 0 100 200 300 300 200 100 0 0 100 200 300 300 200 100 0 0 100 200 300 100 100 100 80 80 80 60 60 60 40 40 40 20 20 20 0 0
Slide 53: As we get older, we get sicker
As we get older, we get sicker Aging population results in increasing prevalence of chronic disease For personal use only Proportion of Persons with one or more chronic Estimated incidence rates of all cancers, by age at diseases, 2017-18 diagnosis and sex, 2019 100% 4,000 90% 3,500 80% 3,000 70% Ra
Slide 54: As we get older and sicker, we spend more on healthcare
As we get older and sicker, we spend more on healthcare Increasing the total healthcare system funding For personal use only Forecast Growth in OECD Healthcare Expenditure % increase of Healthcare Expenditure as share of GDP (2015A-30F) 37% 28% 25% 24% 24% 22% 21% 21% 21% 20% 20% 20% 19% 19% 19% 18%
Slide 55: Making Infratil part of the solution
Making Infratil part of ✓ Addresses a large and growing need the solution For personal use only ✓ Improves patient outcomes, increases system efficiency Reliable cashflows Our investment criteria for the ✓ Strong barriers to entry, scale/network benefits Top line growth healthcare sector ✓ Stable, s
Slide 56: Managing Healthcare Sector risks
Managing Healthcare Sector risks Sector-Specific Challenges Experienced Sector Specialists For personal use only Bringing the • Managing clinical risk & John Livingston Founder and Former CEO of Integral right operational governance Diagnostics (2002 – 2017) experience to BAppSci (Med Rad), GradDipH
Slide 57: Growth opportunities for Infratil in healthcare
Growth opportunities ✓ Expansion within radiology ✓ Expansion into adjacent sectors for Infratil in For personal use only − Exposure to fast growing − Oncology the healthcare catchments and high value sector modalities − Pathology Clear path to − Clinic expansion and greenfield network growth − Priv
Slide 58: Presentation
For personal use only Infratil Investor Day Presentation 16 February 2021 Chris Munday Chief Executive
Slide 59: Introduction to Qscan
For personal use only 1 Introduction to Qscan
Slide 60: National network of 75+ radiology clinics
National network of 75+ radiology clinics diversified across metropolitan, regional & super-regional geographic segments Unique portfolio with strong competitive differentiation delivering catchment leadership and high barriers to scale For personal use only National radiology network… Qscan clinic
Slide 61: What We Excel At
What We Excel At Qscan is differentiated from its peers by having a group of highly specialised radiologists and strong management For personal use only that encourage and facilitate early adoption of leading healthcare technology 100+ Highly Specialised Radiologists Clear Differentiator to Market C
Slide 62: Service Offerings Focused on High-Value Modalities
Service Offerings Focused on High-Value Modalities Qscan specialises in high-value modalities and complex procedures, in particular PET and MRI, which are critical in For personal use only the diagnosis and treatment of cancer and heart diseases Modality Equipment #Machines Strategic Positioning ▪ H
Slide 63: Qscan's Business Model
Qscan’s Business Model For personal use only Qscan provides a complete infrastructure and services platform for doctors Clinic Network Equipment Systems Infrastructure Corporate Services 75+ clinics High quality, hospital Sophisticated teleradiology Integrated and Radiographers Clinic Network grade
Slide 64: Introduction to the Australian Diagnostic Imaging Sector
For personal use only 2 Introduction to the Australian Diagnostic Imaging Sector
Slide 65: Australia Radiology Industry Snapshot
Australia Radiology Industry Snapshot Radiology in Australia has experienced a consistent industry growth of 6% p.a. For personal use only Predictable industry growth Predictable, structural, long-term growth of ~6% p.a. • Radiology in an essential service and a key pillar in disease 6.4 identificat
Slide 66: Radiology Key Industry Drivers
Radiology Key Industry Drivers Long term sustainable growth is underpinned by a number of favourable industry conditions For personal use only Driver Summary • Industry demand increases in-line with population growth Population • Australia’s population is anticipated to grow steadily in the future a
Slide 67: Fully recovered from COVID, back to budget & growth
Fully recovered from COVID, back to budget & growth delivered vs. PCP Qscan’s recovery was faster than the broader market, and, despite considerable COVID disruption, Qscan For personal use only delivered…Underpinned 6% growth inby a number FY20 of favourable industry conditions vs. FY19 V-shaped re
Slide 68: How Qscan is set up to win
For personal use only 3 How Qscan is set up to win
Slide 69: Unique Qscan network with four key growth pillars
Unique Qscan network with strategy built on four key growth pillars Qscan’s portfolio constitutes four growth pillars that provide competitive differentiation in metro areas, advantages of For personal use only incumbency in regional areas, market leading PET expertise, and a scalable external repor
Slide 70: Experienced Medical and Management Team
Experienced Medical and Management Team Qscan is led by a group of highly experienced medical and business executives For personal use only Key Management Team Chris Munday Dr Mark Hansen Dr Gary Shepherd Michael Broadbent CEO, Qscan Group Qscan Group Qscan Group Group Executive, Radiologist & Chair
Slide 71: Platform strategy provides unique path to above-market growth
Platform strategy provides unique path to ongoing above-market growth Business transformation unlocks Platform access pto strategy high growth rovides unique markets that Qscan p at h t o o n g o i n g is best-positioned to capture a bove - m a r ke t g rowt h For personal use only Exposure to faste
Slide 72: Predictable trend of above-market growth and operating leverage
Predictable trend of above-market growth and operating leverage Strong embedded organic growth complemented by PET and non-PET clinic rollout For personal use only Track record of 10%+ annual revenue growth to continue Operating leverage & ramp-up deliver ongoing margin expansion Revenue ($m) EBITDA
Slide 73: The Next Phase
For personal use only 4 The Next Phase….
Slide 74: Delivering on our Strategic Growth Plan
Delivering on our Strategic Growth Plan Qscan has a compelling growth platform with several levers to achieve above-market growth through capturing its For personal use only existing network growth, opening new clinics, executing strategic M&A, and enhancing its teleradiology capability Executing st
Slide 75: Our Key Objectives
Our Key Objectives We have a multi-layered strategy to continue annual revenue growth of ~10% p.a. through For personal use only • Capitalising on market growth and shift to high value modalities • Continually expanding our existing network, within both metro and regional footprints • Continuing our
Slide 76: Summary
Summary For personal use only • Diagnostic Imaging industry supported by predictable, stable market growth which de-risks Qscan’s growth • Organic growth supported by structural, macro-led long-term growth • Qscan benefits from market under penetration of high-value modalities (MRI,CT,PET-CT) and ou
Slide 77: Questions
For personal use only 5 Questions
Slide 78: Digital Infrastructure Overview
Digital Infrastructure For personal use only Overview Will Smales 16 February 2021
Slide 79: Digital Infrastructure Overview
Digital Infrastructure • The sector came into the pandemic with positive tailwinds around the exponential growth in data usage Overview For personal use only and need for connectivity, fuelling requirements for investment into data centres mobile towers and fibre Digital • Infratil exposed sharehold
Slide 80: Global demand for digital infrastructure is accelerating
Global demand for digital infrastructure is acceletrating Infratil has exposed shareholders early to this emerging trend For personal use only Australia and New Zealand • Invested in 2016 • Australia’s most secure and resilient data centre provider • Recent expansion into New Zealand • Revenues unde
Slide 81: CDC Data Centres Presentation
CDC Data Centres Infratil Investor Day Presentation For personal use only 16 February 2021 Greg Boorer Chief Executive
Slide 82: Important notice and disclaimer
Important notice and disclaimer For personal use only This presentation contains confidential, non-public information and has been prepared by Canberra Data Centres Proprietary Limited (ABN 59 125 710 394) (“CDC”). Distribution of this presentation, or of any information contained in this presentati
Slide 83: Contents
For personal use only Contents 1 CDC overview & performance 2 Outlook 3 Questions 4 Appendix
Slide 84: CDC overview & performance
For personal use only 1 CDC overview & performance
Slide 85: CDC Data Centres overview
CDC Data Centres overview For personal use only Established in 2007, CDC Data Centres (CDC) has grown to be a leading operator of secure world-class data centre (DC) facilities, guaranteeing the availability of mission-critical systems CDC builds, owns and operates data centres across a growing foot
Slide 86: Since we last met
Since we last met…. For personal use only Since our last update in October 2020 we have achieved strategic short term goals and have witnessed accelerated demand for projects What we said we would do… Auckland 1 data centre construction ✓ Secure new clients and workloads at Eastern Creek 3 and Hume
Slide 87: Development updates
Development updates For personal use only CDC’s data centres under construction are all progressing well; on-track and within budget Auckland 1 in-ground works completed ⚫ New Zealand developments are out of the ground ⚫ Eastern Creek 3 is completed with customer fit-out works ongoing; focus has now
Slide 88: Financial performance
Financial performance For personal use only Four years of growth in both run rate and reported EBITDA delivered. Growth expected to continue CDC has built a loyal customer base, ⚫ CDC delivered on budget for FY2020 and on track for FY2021 comprising Government, Hyperscale ⚫ Strong track record of gr
Slide 89: Outlook
For personal use only 2 Outlook
Slide 90: Accelerated demand for future projects
Accelerated demand for future projects For personal use only CDC’s track record of project delivery puts CDC in the right place at the right time to satisfy accelerating market demand ⚫ Sector growth has accelerated ⚫ Remote working environments, online retail, digital transformation of government a
Slide 91: Portfolio overview and growth outlook
Portfolio overview and growth outlook For personal use only CDC has a clear runway for growth within Australia and is growing into New Zealand ⚫ Eastern Creek 3 and Hume 4 are now operational; nine operational DCs across three locations ⚫ Eastern Creek 4 and Hume 5 accelerated to commence constructi
Slide 92: Looking ahead
Looking ahead For personal use only The key focus for FY2022 will be to deliver on contracted capacities and look for additional expansion opportunities Continue to bring quality, • Commission both of CDC’s New Zealand data centres in secure, resilient and early CY 2022 sovereign owned data • Secure
Slide 93: Questions
For personal use only 3 Questions
Slide 94: Appendix
For personal use only 4 Appendix
Slide 95: Growth by site
Growth by site For personal use only CDC has successfully grown its portfolio of assets and has a range of diversified growth options that now include the expansion into New Zealand Capacity Capacity Phase 1: Phase 2: Facility (MW) contracted1 Build Fit-out phase Hume 1 6MW >95% Completed Completed
Slide 96: New Zealand focus
New Zealand focus For personal use only CDC is well-positioned to capitalise on a new growth market by providing world-class quality, secure and resilient storage solutions Highlights ⚫ Acquired two parcels of land in Auckland in 2020 ⚫ Auckland 1 site is ~11,000 sqm with expansion capacity availabl
Slide 97: Market Growth Drivers
Market Growth Drivers For personal use only Multiple drivers are underpinning future growth, aided by accelerated digital transformation • Increasing digitisation of business operations – remote working, data analytics etc • “Always on” consumers driving growth in digital content, streaming, edge co
Slide 98: Vodafone Investor Update
e only “Vodafone Investor Up — February 16th 2021 o Jason Paris, Chief Executive U For person
Slide 99: For personal use only
land thr rem arkable r nology hit = 5 lives ind oe
Slide 100: Executive Summary
Executive Summary 18 months in, we are becoming a higher performing network and services business We have reduced costs across the company, and have reinvested in areas our customers care the most about; connectivity, value, products and customer service We have achieved our highest ever customer se
Slide 101: Where we were in FY20 to target state
ie Where we were in FY20 = a Target state | I High cost, low CX, low network utilisation with challenging Low cost, high CX, high network utilisation, and winning in trading market
Slide 102: Strategy progress
~ Opportunity Progress C Strategy @. Strong gross cost & revenue im, Cost allowing reinvestment ri Strong Q3 mobile post-pay grov Trading consumer fixed still tough, IC = Network — cx Best ever CX and IT sta new d L platform ~1700 products & plans retired, endles Product ICT product set emerging __
Slide 103: FY21 performance and FY22 outlook
FY21 performance and FY22 outlook FY21 - Strong Q3 mobile post-pay growth, disproportionate pre-pay impact, fixed remains challenging. - Cost improvements for FY21 enabling targeted reinvestment into strategic priorities - FY21 Covid-19 impacts on EBITDA still expected to be $60-75m - On-track to de
Slide 104: Key investments in FY22
Key investments in FY22 5G Network — expansion of 5G and improvements in 4G, upgrading of HFC network, acceleration of FWA Digital — build underway to address legacy complexity a = Customer experience — ongoing improvements to existing platforms, processes and systems, hos ongoing simplification and
Slide 105: Create a better future for Aotearoa New Zealand
We want to create a better future for Aotearoa New Zealand through remarkable technology that simplifies lives and businesses Remarkable Simplicity Digital-first, low-cost gS business ad Capability - High performance culture and modern operating model
Slide 106: Network Forward
1. Network Forward () On-net - Industry economics driving On-net - Further investment in FWA and HFC acceleration Network performance Wholesale [— Now or near-term - 5G mobile leadership, regional focus - RCG and Moran (2degrees) proven infrastructure sharing models - International connectivity grow
Slide 107: Remarkable Simplicity
2. Remarkable Simplicity Business & Cost A improvements Ve Trading ——) performance dy CX and <> IT stability — Now or near-term - Cost improvement allowing reinvestment in next phase of strategy - Improving trading on current telco model and platforms - Focus on CX and IT stability ;— Longer-term op
Slide 108: Capability
3. Capability Capability & 1) Performance Uplift Modern ome) Operating oe) Model Org Health — Now or near-term - Focused upskilling and reskilling - Targeted talent acquisition - Empowered decision-making - Modern workplace tools - Improving org health scores Faster, Leaner, More Agile: - Highly fle
Slide 109: Create a better future for Aotearoa New Zealand
We want to create a better future for Aotearoa New Zealand through remarkable technology that simplifies lives and businesses Remarkable Simplicity Digital-first, low-cost gS business ad Capability - High performance culture and modern operating model 12
Slide 110: For personal use only
For personal use only
Slide 111: Appendix — acronym guide
Appendix 1 — acronym guide FTF CX NPS IVR FWA On-Net HFC First time fix of customer enquiries Customer experience Net Promoter Score Interactive Voice Response for customer call centres Fixed Wireless Access broadband using a mobile network Provision of services to customers that rely primarily on o
Slide 112: Wrap-up & Close
Infratil Investor Day For personal use only Wrap-up & Close Marko Bogoievski, 16 February 2021
Slide 113: Supplementary Information 2021
Supplementary Information For personal use only Infratil Investor Day 2021
Slide 114: Wholly Owned Group Net Bank Debt
Wholly Owned Group Net 31 January 2021 ($Millions) Wholly Owned Group Net Bank Debt – 31 March 2020 470.9 Bank Debt For personal use only Trustpower dividends (51.9) Wellington Airport subvention payment (37.5) Vodafone NZ distributions and capital return (94.5) Tilt Renewables capital return (179.6
Slide 115: Wellington International Airport Limited Update
Wellington International Airport Limited Update Infratil InfratilInvestor InvestorDay Day– February 2021 2021 For personal use only
Slide 116: Wellington International Airport Update
Wellington International Airport Update Sprint Strategy for Next 18-24 Months - Ride Out & Recalibrate for Recovery FY2021 Domestic & International Passengers % Vs Pre-COVID (normally 82:18 split) For personal use only 100% 80% 62% 65% 67% 64% 63% 63% 57% 60% 40% 46% 40% 31% 20% 1% 9% 0% April May J
Slide 117: COVID: WLG less exposed to impacts
Wellington International Airport Update COVID: WLG less exposed to impacts and expect to recover faster For personal use only • WLG’s biggest pre-COVID market 700,000 Domestic Passenger Capacity at WLG was domestic (82% of travel) 600,000 • Leading air travel recovery Globally and particularly in 50
Slide 118: Passengers expected to recover to pre-COVID levels by FY2023-24
Passengers expected to recover to pre-COVID levels by FY2023-24 Could recover faster given domestic/short-haul prevalence For personal use only • Different market segments have been impacted in different ways, noting that over the last 20 years, WIA’s pax has consistently risen slightly higher than
Slide 119: EBITDA & Capex Forecasts
Wellington International Airport Update EBITDA & Capex Forecasts For personal use only EBITDA $m 120 EBITDA Forecast 100 • FY2021 forecast of $35 million (prior to charges in alert levels on 80 14 February) severely impacted by nationwide Level 4 lockdown, 60 and later Auckland Level 3. The original
Slide 120: For personal use only
For personal use only Infratil Investor Day | 16 February 2021
Slide 121: Trustpower – Positive Outlook
Trustpower – Positive Outlook For personal use only • Electrification and decarbonisation of economy requires significant investment, an extra 70% generation capacity forecast to be required by 2050. Supported by the recent announcement by the Climate Change Commission • Convergence across digital p
Slide 122: Trustpower bundle and generation update
Bundle remains popular, generation subdued due to ongoing low hydrology and planned works For personal use only Metric FY2020 FY2021 Variance Average Products per Customer YTD YTD 450,000 1.8 Generation Volumes (GWh) 1,471 1,394 5% Products/Customer 400,000 1.6 GWAP ($/MWh) $117 $135 15% Products 35
Slide 123: Other Portfolio Investments
Other Portfolio Investments For personal use only
Slide 124: Other Portfolio Investments Update
Other Portfolio Infratil Infrastructure Property Investments • Infratil established Infratil Infrastructure Property (‘IIPL’) primarily to manage the property portfolio of NZ Bus, which For personal use only when acquired in 2006 owned a large number of its bus depots Update • As of today, IIPL has
Slide 125: Other Portfolio Investments Update
Other Portfolio Investments For personal use only Update Australian Social Infrastructure Partners (‘ASIP’) Clearvision Ventures • ASIP currently holds a 9.95% share of the equity in the • Infratil has made a US$50 million commitment to February 2021 New Royal Adelaide Hospital (‘nRAH’) public-priva