Infratil Ordinary Share Buyback

Infratil announces its intention to buy back ordinary shares pursuant to Rules 7.6.1(a) and (f) on the basis outlined in the Notice of Meeting for the 2018 Annual Meeting ("Notice of Meeting"). The buybacks may take place during the period from 7 September 2018 until 31 July 2019. Shares may be bought on-market or off-market, but the combined total of on-market and off-market purchases will not exceed 50 million ordinary shares. On-market buybacks will only take place on the NZSX, not the ASX. Further details about Infratil's buyback programme are set out in the Notice of Meeting. Phillippa Harford Chief Financial Officer End CA:00323267 For:IFT Type:ADMIN Time:2018-09-03 15:20:46