Infratil Limited · NZX:IFT
Infratil — Non-Deal Roadshow (July 2026)
22 slides from Infratil's roadshow presentation, Jul 30, 2026
Slide 1: Infratil Governance Roadshow Presentation
30 July 2026 Infratil Governance Roadshow Presentation Attached is a copy of a presentation prepared for Infratil’s 2026 Governance Roadshow. Enquiries should be directed to: Brett Jackson Infratil Investor Relations Director Email: brett.jackson@infratil.com For personal use only Authorised for rel
Slide 2: Governance Roadshow
For personal use only ROADSHOW GOVERNANCE
Slide 3: Board of directors profiles
For personal use only ALISON GERRY Joined LLduiy 2014 Last elected 2025 Annual Meeting Status Independent Infratil role Chair (since May 2022) Qualifications BMS (Hons), MAppFin Experience ‘Alison has over 35 years! experiance in the infrastructure and financial services sectors. She has worked in t
Slide 4: Board note: Peter Springford retiring
For personal use only Note: Peter Springford is retiring and will not stand for re-election at the 2026 Annual Meeting. He will continue as an adviser to the Board until the end of 2026. 2
Slide 5: Director succession
DIRECTOR SUCCESSION For personal use only Brad Banducci Tiffany Fuller Appointed: 1 July 2026 To be appointed: 19 August 2026 Experience: highly accomplished CEO and brings Experience: brings extensive experience in chartered over 35 years of leadership experience spanning retail accounting, corpora
Slide 6: Skills matrix
SKILLS MATRIX For personal use only Note: The matrix above reflects the Infratil Board as at 31 March and indicates how many directors bring material capability in each skill. It does not represent performance ratings. 4
Slide 7: Annual Meeting 2026 Resolutions
ANNUAL MEETING 2026 RESOLUTIONS For personal use only 1. That Brad Banducci be elected as a director of Infratil. 2. That Anne Urlwin be re-elected as a director of Infratil. 3. That Jason Boyes be re-elected as a director of Infratil. 4. That Infratil be authorised to issue to Morrison Infrastructu
Slide 8: Focused on Performance
For personal use only FOCUSED ON PERFORMANCE
Slide 9: Board focus areas
BOARD FOCUS AREAS SHAREHOLDER RETURN VALUATION RISK MANAGEMENT ESG For personal use only • IFT share price • Operational • Progress against SBTI • Discount to Independent • Credit portfolio target valuation-NAV o S&P metrics • GRESB score o Internal metrics • ESG issues (last12 months) HOLDCO INITIA
Slide 10: Strategy on a page
STRATEGY ON A PAGE Ideas that matter Attractive global thematics Infrastructure characteristics For personal use only Pillar 1 Pillar 2 Pillar 3 Portfolio construction Cashflow generators Mature growth platforms Future growth platforms approach Scaled business with enough Scaled businesses, more Mul
Slide 11: Medium-term strategic objectives
MEDIUM-TERM STRATEGIC OBJECTIVES Solid progress against strategy For personal use only Divest businesses unlikely to scale • $600m of sales completed; Qscan process underway under our ownership and reinvest • Potential for another $1 billion+ of divestments over the medium term Balance Infratil’s ca
Slide 12: Portfolio update
PORTFOLIO UPDATE A diverse portfolio with significant growth opportunities Portfolio changes Portfolio composition (31 March 20261) For personal use only • Manawa Energy sold July 2025 • Contact Energy stake received July 20252 • RetireAustralia sold December 2025 • Infratil Property sold December 2
Slide 13: FY26 financial highlights
FY26 FINANCIAL HIGHLIGHTS Portfolio momentum evident in key financial metrics $989 Proportionate Operational EBITDAF1 (NZ$m) 11% For personal use only million FY24 Proportionate Operational EBITDAF1 FY25 $2.7 billion Proportionate Capital Expenditure 17% FY26 (200) 0 200 400 600 800 1,000 1,200 $20.
Slide 14: FY26 highlights
FY26 HIGHLIGHTS Delivering growth in volatile markets Despite continued market ‘noise’, Proportionate Operational EBITDAF of $989.4 million was delivered, up 11% on FY25 and towards the top end of the $960–$1,000 million guidance range For personal use only CDC now a global scale data centre operato
Slide 15: Looking ahead
LOOKING AHEAD Portfolio positioning for further step changes in growth CDC has a once-in-a-lifetime opportunity to develop AI infrastructure at globally relevant scale, with strong For personal use only demand, project pipeline, capability and funding flexibility to continue to accelerate Longroad i
Slide 16: Sustainability highlights
SUSTAINABILITY HIGHLIGHTS External Ratings Assessments - Infratil Rating body Latest Previous rating rating For personal use only GRESB 94 86 • Each year, our portfolio companies participate in GRESB Infrastructure assessments MSCI ESG AA A – Infratil’s 2025 management score ranked first globally, o
Slide 17: Our Model: Management
For personal use only OUR MODEL MANAGEMENT
Slide 18: Our manager
OUR MANAGER Morrison has managed Infratil since 1994 • Infratil’s Board sets specific goals and objectives to align Morrison’s management efforts with Infratil’s strategic For personal use only priorities • Morrison manages Infratil’s assets, along with other large scale institutional clients and un
Slide 19: An active manager
AN ACTIVE MANAGER • Active management is fundamental to the preservation of capital and our delivery of strong investment returns For personal use only • We take a hands-on approach to driving long-term business performance to create shareholder value • We create teams around each asset that bring t
Slide 20: Management agreement
MANAGEMENT AGREEMENT • Infratil’s Board continually monitors Morrison’s performance to ensure it is delivering value for For personal use only shareholders • The annual management fee varies depending on whether an asset is part of the New Zealand or international portfolio • An incentive fee may be
Slide 21: The end-to-end investment lifecycle
THE END-TO-END INVESTMENT LIFECYCLE Morrison’s disciplined approach drives value at every stage For personal use only Research & Origination Investment Asset Management Portfolio Management • Identify and source • Multi-stage process from • Active portfolio • Development of value opportunities throu
Slide 22: Independent valuation overview
INDEPENDENT VALUATION OVERVIEW PORTFOLIO COMPANY For personal use only • provides own valuation and forecast model to the valuer • models generated through robust, periodically audited processes INFRATIL BOARD MORRISON • approves appointment of • oversees the valuation process valuers • recommends v