Quotation Notice – Infratil Limited (“IFT280”) Bonds

QUOTATION NOTICE: NZX DEBT MARKET INFRATIL LIMITED BONDS ("IFT280") Issuer: Infratil Limited (IFT) Ticker Code: IFT280 ISIN: NZIFTD0280L4 Details of Issue: Up to $200 million (plus oversubscriptions of up to $100 million) in aggregate between this series and Infratil Limited's other series of bonds due December 2029 with ticker code IFTHC. Opening Date: Tuesday, 20 August 2019 Closing Date: 5.00pm on Friday, 20 September 2019 Interest Rate: 3.35% per annum Maturity Date: Tuesday, 15 December 2026 Interest Payment Dates: 15 March, 15 June, 15 September and 15 December of each year until and including the Maturity Date. Date of First Interest Payment: Sunday, 15 December 2019 (however, as this date is not a Business Day, interest will be payable on Friday, 13 December 2019) First Interest Paid To: Original Subscriber Record Date: 10 calendar days before the relevant payment date or, if not a Business Day, the preceding Business Day Minimum Application Amount: $5,000 and multiples of $1,000 thereafter Minimum Holding: $5,000 Minimum Transferable Amount: Infratil may decline to register a transfer if the transfer would result in the transferee holding less than the Minimum Holding Amount Face Value: $1.00 per Bond Supervisor Name: Trustees Executors Limited Joint Lead Managers: Forsyth Barr Limited, ANZ Bank New Zealand Limited, Bank of New Zealand, Deutsche Craigs Limited, Jarden Securities Limited Trust Deed Dated: Programme Trust Deed dated 11 November 1999 (as amended and restated on 12 August 2015 and amended on 17 May 2017) and Series Supplement dated 20 August 2019. Issue Date: Friday, 20 September 2019 and Tuesday, 24 September 2019 Registrar: Link Market Services Limited Settlement Status: NZCDC Settlement System Expected Commencement of Trading on the NZX Debt Market: Friday, 20 September 2019 Mark Peterson Chief Executive Officer NZX Limited 13 September 2019 End CA:00340857 For:IFT Type:OFFER Time:2019-09-13 08:33:56