Infratil Limited · NZX:IFT
Infratil — Shareholder Meeting (August 2025)
28 slides from Infratil's shareholder meeting presentation, Aug 19, 2025
Slide 1: Annual Shareholders Meeting 2025
ANNUAL SHAREHOLDERS MEETING 2025 19 AUGUST 2025
Slide 2: Annual Shareholders Meeting
ANNUAL SHAREHOLDERS MEETING 19 AUGUST 2025 2:30pm at Eden Park, Auckland Chair’s Address 01 CHAIR’S ADDRESS Chief Executive’s Update 02 CHIEF EXECUTIVE’S UPDATE Shareholder questions 03 SHAREHOLDER QUESTIONS 04 RESOLUTIONS 05 CLOSE AND REFRESHMENTS
Slide 3: Disclaimer
DISCLAIMER 19 AUGUST 2025 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, p
Slide 4: Online Participation
ANNUAL SHAREHOLDERS MEETING ONLINE PARTICIPATION 3
Slide 5: Chair's Address
Chair’s Address SECTION 1
Slide 6: Infratil's Directors
Infratil’s Directors Peter Springford Andrew Clark Anne Urlwin Jason Boyes Alison Gerry Kirsty Mactaggart Paul Gough 5
Slide 7: Navigating Beyond the Noise
Chair’s Address Navigating Beyond the Noise FY2025 showcased portfolio resilience amid global uncertainty and shifting market conditions Committed to long-term investment strategy while remaining agile and transparent in volatile environments Market challenges included uncertainty around AI demand,
Slide 8: Infratil's Enduring Strength
Chair’s Address Infratil’s Enduring Strength Share price recovery highlights resilience despite a more concentrated portfolio Current asset portfolio is among the strongest in Infratil’s history Value extends well beyond any single asset Long-term returns consistently within 11–15% annual target Str
Slide 9: Key Milestones Achieved
Chair’s Address Key Milestones Achieved Increased CDC stake alongside Future Fund, securing majority board representation. Completed Contact Energy and Manawa Energy merger to enhance strategic positioning Achieved ASX200 index inclusion, expanding reach to Australian institutional investors Announc
Slide 10: Sharpening Strategic Clarity
Chair’s Address Sharpening Strategic Clarity Introduced “Infratil Way” to codify investment approach and share learnings across portfolio Enhancing transparency and communication of strategic priorities to shareholders Increasing collaboration between portfolio companies where synergies add value Ex
Slide 11: Board Strength and Succession
Chair’s Address Board Strength and Succession External review placed Board performance in the 90th percentile of benchmark Chair succession planning underway, with transition targeted for ASM 2028 Director Peter Springford to retire at ASM 2026 Recruitment in progress for director with complementary
Slide 12: Chief Executive's Update
Chief Executive’s Update SECTION 2
Slide 13: Identify and scale our next growth platforms
Chief Executive’s Update Identify and scale our next growth platforms CDC and Longroad now account for around half of Infratil’s value Both assets have delivered exceptional earnings growth and remain well-positioned for continued expansion To maintain balance, we must develop the next generation of
Slide 14: Divest businesses unlikely to scale and reinvest
Chief Executive’s Update Divest businesses unlikely to scale under our ownership and reinvest Committed to optimising capital by divesting assets unable to scale under Infratil’s ownership Targeting $1 billion of divestment proceeds over the next two to three years Investments should be capable of r
Slide 15: Balance operating cash flow and dividends
Chief Executive’s Update Balance Infratil’s operating cash flow and dividends Aiming to align operating cash flow with fixed costs and dividend commitments, supporting dividend sustainability Currently covering fixed costs but not full dividend from operating cash flow Expect balance within 2–3 year
Slide 16: Broaden our shareholder base to support future scale
Chief Executive’s Update Broaden our shareholder base to support future scale Inclusion in S&P/ASX 200 has expanded reach and attracted new Australian investors Strong and ongoing support from retail investors remains a key feature of our register Growing portfolio scale is attracting increased inte
Slide 17: The strategy we outlined in May is well underway
Chief Executive’s Update The strategy we outlined in May is well underway Building the next generation of growth platforms Divesting assets unable to scale, simplifying our portfolio and investing into larger opportunities Driving future shareholder returns at scale Positioning to balance operating
Slide 18: Shareholder questions
Shareholder questions SECTION 3
Slide 19: Resolutions
Resolutions SECTION 4
Slide 20: Resolution 1: Re-election of Alison Gerry
Resolution 1 Re-election of Alison Gerry Alison has been Chair since 2022, an independent director since 2014 and was last re-elected in 2022. She is a director of Air New Zealand, ANZ Group Holdings, and Australia and New Zealand Banking Group Limited. She has been a professional director since 2
Slide 21: Resolution 2: Re-election of Kirsty Mactaggart
Resolution 2 Re-election of Kirsty Mactaggart Kirsty joined the Board in 2019 and was last re-elected in 2022. She is a senior advisor at Montarne, a specialist advisory firm focussed on capital markets and corporate governance. Prior to her director and advisory career, she was Head of Equity Cap
Slide 22: Resolution 3: Re-election of Andrew Clark
Resolution 3 Re-election of Andrew Clark Andrew joined the Board as an independent director in 2022. He is an experienced strategist and transformation executive with over 30 years of diverse management consulting experience. During this time, he held a number of senior roles within the Boston Con
Slide 23: Resolution 4: Payment of FY2024 Incentive Fee by Share Issue
Resolution 4 Payment of FY2024 Incentive Fee by Share Issue (2024 Scrip Option) That Infratil be authorised to issue to Morrison Infrastructure Management Limited (Morrison), within the time, in the manner, and at the price, prescribed in the Management Agreement, such number of fully paid ordinar
Slide 24: Resolution 5: Payment of FY2025 Incentive Fee by Share Issue
Resolution 5 Payment of FY2025 Incentive Fee by Share Issue (2025 Scrip Option) That Infratil be authorised to issue to Morrison, within the time, in the manner, and at the price, prescribed in the Management Agreement, such number of Shares as is required to pay all or such portion of the second
Slide 25: Resolution 6: Non-Executive Directors remuneration
Resolution 6 Non-Executive Directors renumeration That the maximum aggregate remuneration pool available for payment to all Non-Executive Directors for each financial year commencing on or after 1 April 2025, be increased by $121,500 from $1,525,500 to $1,647,000 per annum (plus GST or VAT, as app
Slide 26: Resolution 7: Auditor's remuneration
Resolution 7 Auditor’s remuneration That the Board be authorised to fix the auditor’s remuneration. For Against Discretionary 254,728,686 240,788 7,037,381 97.22% 0.09% 2.69% 25
Slide 27: Close and refreshments
Close and refreshments SECTION 5
Slide 28: Investing in ideas that matter
INVESTING IN IDEAS THAT MATTER