CDC Independent Valuation - 31 March 2026

CDC Independent Valuation – 31 March 2026 CDC’s valuation increased by 7.2% during the quarter, reflecting continued growth in CDC’s pipeline of operating and planned capacity, and the successful completion of a A$500 million equity raise (with Infratil contributing A$250 million) to support acceleration of the development pipeline. Excluding the equity raise, the valuation increased by 3.5% on a like‑for‑like basis. The 31 March 2026 independent valuation of CDC increased by A$1.0 billion from 31 December 2025, to A$15.0 billion, reflecting the mid-point of the assessed valuation range of A$14.1 billion to A$16.0 billion. On this basis, Infratil’s 49.72% interest in CDC is valued at A$7,454 million, up A$500 million from A$6,954 million at 31 December 2025. Further valuation details are included in the attached presentation document. Enquiries should be directed to:  Brett Jackson Investor Relations Email: brett.jackson@infratil.com Authorised for release by: Andrew Carroll Infratil Chief Financial Officer