FY2025 Annual Results Presentation

INFRATIL ANNUAL RESULTS

ANNOUNCEMENT

FOR THE YEAR ENDED 31 MARCH 2025

Infratil FY2025 Full Year Results Presentation

PORTFOLIO OVERVIEW

1. & FULL YEAR HIGHLIGHTS

   GROUP FINANCIAL

2. PERFORMANCE

   PORTFOLIO COMPANY

3. UPDATES

   GUIDANCE

4. & LIQUIDITY

   PORTFOLIO STRATEGY &

5. OUTLOOK

   NAVIGATING

   BEYOND THE NOISE

   CONCLUDING REMARKS

6. & QUESTIONS

Infratil overview

We are an infrastructure investment company that actively invests in ideas that matter

• Market capitalisation of NZ$10.0bn1 (US$5.8bn)

  Cumulative annual return (%)

• S&P NZX50, ASX300, and MSCI Global Standard Index member

  Infratil has delivered a 18% TSR since inception1,2

  Period1 IFT TSR

600%

• Founded in 1994

  A unique value-add infrastructure investment company

• Current investments focused on four high conviction sectors; digital infrastructure, renewables, healthcare and airports

• Active portfolio construction and management with multiple pillars of value creation over time

  550%

  500%

  450%

  400%

  350%

  300%

  250%

  200%

  150%

  100%

  50%

  0%

  5 - year 23.9%

  10 - year 17.0%

20 - year 13.9%

IFT

NZX 50

ASX 200

• Unique management partnership with Morrison, benefitting

  from Morrison's extensive global capabilities

  With a track record of delivering strong returns

• Infratil continues to outperform its target of shareholder returns

of 11-15% per annum on a rolling 10-year basis

-50% 15 FY16 FY17

FY18

FY19 FY20 FY21

FY22 FY23 FY24 FY25 FY26

1 Market capitalisation and Returns are calculated to 31 March 2025

2 Chart source: Capital IQ