Infratil Limited · NZX:IFT
Infratil — Investor Day (September 2025)
26 slides from Infratil's investor day presentation, Sep 18, 2025
Slide 1: Infratil 2025 Investor Day: Portfolio Set for Growth
Infratil 2025 Investor Day Portfolio Set for Growth 18 September 2025
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by Infratil Limited (NZ company number 597366, NZX:IFT; ASX:IFT) (the ‘Company’) To the maximum extent permitted by law, the Company, its affiliates and each of their respective affiliates, related bodies corporate, directors, officers, partners, employ
Slide 3: Infratil Directors
Infratil Directors Alison Gerry Jason Boyes Andrew Clark Paul Gough Joined July 2014 Joined April 2021 Joined June 2022 Joined December 2012 Chair since May 2022 Non-Independent Director Kirsty Mactaggart Peter Springford Anne Urlwin Joined March 2019 Joined November 2016 Joined January 2023 2
Slide 4: Areas of Board Focus
Areas of Board Focus Clear priorities: shareholder engagement, improving disclosure, and the Morrison partnership Shareholder engagement Understanding investor perspectives and what matters most Making improvements to our disclosures Continuing to develop deeper disclosure and improve transparency M
Slide 5: Infratil 2025 Investor Day Sydney 18 September 2025
Infratil 2025 Investor Day 9:00am – 9.10am Welcome & Overview Alison Gerry, Infratil Chair Sydney 9.10am – 9.40.am Infratil Portfolio Update Jason Boyes, Infratil Chief Executive 18 September 2025 9.40am - 10.30 am Longroad Energy Paul Gaynor, Longroad Energy Chief Executive 9:00am - 3:20pm AEST Pet
Slide 6: Portfolio Set for Growth
Infratil Investor Day Portfolio Set for Growth 18 September 2025
Slide 7: Foundations for Growth
Foundations for Growth Portfolio positioned well, with clear strategy and confidence in future growth The Portfolio Today Strong progress on a number of key portfolio initiatives Our Strategy and Objectives Managing complexity while staying focused on where value has been created Confidence in Growt
Slide 8: The Portfolio Today
© Infratil The Portfolio Today
Slide 9: Infratil Overview
Infratil Overview We are an infrastructure investment company that actively invests in ideas that matter Infratil (IFT.NZX, IFT.ASX) A strong track record: 18% TSR since inception in 19942,3 • Market capitalisation of NZ$12.2bn1 (US$7.3bn) • Included in S&P NZX50, ASX200, and MSCI Global Standard 60
Slide 10: Navigating the Noise
Navigating the Noise Over the last 6 months we have made strong progress on a number of key portfolio initiatives CDC ownership Merger of Manawa and Agreement to sell CDC confirms Perth increased to 49.75% Contact completed RetireAustralia expansion May June July August September Inclusion in Clarit
Slide 11: Portfolio Today
Portfolio Today Focused on four sectors: digital, renewables, healthcare and airports Digital Renewables Healthcare Airports Shareholding Shareholding Shareholding Shareholding 49.7% 37.3% 52.7% 66.0% 99.8% 9.5%1 57.4% NEW 54.0% 95.0% 50.0%2 SOLD 20.0% 38.0% 73.0% 67% portfolio 20% portfolio 8% port
Slide 12: A Globally Diversified Portfolio
A Globally Diversified Portfolio Focused on four sectors; digital, renewables, healthcare and airports 1 2 3 4 3 4 5 5 1 1 2 3 3 4 5 2 1 2 2 5 1 4 1 1 2 United States: 12% Europe: 6% Asia: 3% Australia: 44% New Zealand: 35% 1 11
Slide 13: Our Strategy and Objectives
© Infratil Our Strategy and Objectives
Slide 14: A Step Change in Scale
A Step Change in Scale Infratil’s growth over the last five years has prompted a refinement of strategy Growth in market capitalisation (NZ$m) Asset valuations3 (NZ$m) 5 – Year TSR 26.2% p.a.2 24.3% p.a. 18,173 Digital 12,225 Renewables Healthcare Airports 12,089 5,484 2,579 2,528 3,698 2,157 1,452
Slide 15: Strategy on a Page
Strategy on a Page Core investment approach remains the same Ideas that matter Attractive global thematics Infrastructure characteristics Pillar 1 Pillar 2 Pillar 3 Portfolio Cashflow generators Mature growth platforms Future growth platforms construction Scaled business with enough Scaled businesse
Slide 16: Key Refinements to our Approach
Key Refinements to our Approach Managing complexity while staying focused on where value has been created Clearer defined roles for portfolio assets • Clarifies where value is created, cash generated and how the portfolio is balanced • Sets clear expectations for existing and potential new investmen
Slide 17: We Expect Our Portfolio Composition to Evolve Over Time
We Expect Our Portfolio Composition to Evolve Over Time Achieving our target return would see our market cap grow to NZ$20 billion over the next 5 years Portfolio Pillar 1 Pillar 2 Pillar 3 construction Cashflow generators 30% Mature growth platforms 60% Future growth platforms 10% today Illustrativ
Slide 18: Medium-Term Strategic Objectives
Medium-Term Strategic Objectives In May we outlined four workstreams important to delivering our strategy Identify and scale our growth Divest businesses unlikely to platforms beyond CDC and scale under our ownership Longroad Energy and reinvest Continue to broaden our Balance Infratil’s operating s
Slide 19: Medium-Term Strategic Objectives
Medium-Term Strategic Objectives Clear priorities for focus and simplification ahead Identify and scale our growth platforms Divest businesses unlikely to scale beyond CDC and Longroad Energy under our ownership and reinvest • CDC and Longroad Energy have been stand- • We continue to review the port
Slide 20: Medium-Term Strategic Objectives
Medium-Term Strategic Objectives Strengthening the foundations for future growth Balance Infratil’s operating cash flow Continue to broaden our shareholder and dividends base to support future scale • In the medium term, we expect portfolio • Entry into the ASX200 has improved trading company distri
Slide 21: Confidence in Growth
© Infratil Confidence in Growth
Slide 22: Funding Capacity to End of FY2027
Funding Capacity to End of FY2027 Clear funding pathways to support our current plan 2,200 Significant capacity exists to fund our 2,000 (280) current plan and future growth 1,800 672 1. Undrawn facilities are forecast as at (135) 30 September 2025 1,600 (265) 2. $1 billion of planned asset divestme
Slide 23: Navigating Beyond The Noise
Navigating Beyond The Noise Confidence in the growth opportunities ahead — from data centre demand to U.S. renewables AI demand reaffirmed U.S. renewables certainty CDC continues to develop and Longroad Energy’s pipeline supported by tax experience strong demand at scale credit visibility beyond 202
Slide 24: Portfolio Set for Growth
Infratil Investor Day Portfolio Set for Growth 18 September 2025
Slide 25: Net Asset Values
Net Asset Values Overview Period ended ($Millions) Sep-25 Mar-25 Pro Forma Acutal The table represent Infratil’s proportionate share of an asset's independent CDC 7,285.4 7,248.5 valuation, market value, or book value One NZ 3,713.5 3,713.5 Fortysouth 184.4 186.3 CDC, Longroad Energy, Galileo, M
Slide 26: Portfolio Company Returns – as at 30 June 2025
Portfolio Company Returns – as at 30 June 2025 Total capital Total realised Total unrealised Month of Initial Duration Total value4 IRR Asset Segment Geography invested1 proceeds2 proceeds3 Investment (years) (NZD) (NZD) (NZD) (NZD) (NZD) CDC Digital Infrastructure Australasia September 2016 8.8 1,2