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Note: Casing available in Silver or Black colour. Note: Portable Electronics Ltd is not affiliated with these companies. The reasons for that opinion apparently were that private companies do business 'more efficiently' than Governments (paragraph 98); and also that in the innumerable dealings with foreign nations, private British citizens being relatively unhampered by negotiations other than those of their own business, and being of necessity experts, are decidedly more effective than ambassadors and plenipotentiaries. These forward-looking statements are not historical facts but rather are based on IFT’s current expectations, estimates, beliefs, assumptions and projections about IFT, its portfolio companies (including One New Zealand), the industries in which it operates, the outcome and effects of the Offer and use of proceeds. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors, many of which are beyond the control of IFT, its directors and management, are difficult to predict and may involve significant elements of subjective judgement and assumptions as to future events which may not be correct and could cause actual results to differ materially from those expressed in the forward-looking statements.

All Infratil directors intend to participate in the equity raising. The maximum application size has been selected with the objective of enabling as many retail shareholders as possible to apply for their pro rata share of the equity raising via the Retail Offer. Further details of the acquisition of One NZ and the Equity Raising are set out in the Investor Presentation provided to the NZX and ASX today. Control cables are applied in automation systems, transport, building, construction, mining, and industry. What are the Advantages of Control Cables? The approach to market that has worked in NZ we are now rolling out in the UK and Australia and that is looking good but there’s much more to do. Much had thus been done, but more remained to do. Udhay Mathialagan, Brookfield Managing Director and Global CEO of Data Centres, and outgoing chair of One NZ, said, "During our ownership of One NZ, we have overseen the investment of more than a billion dollars to expand and strengthen New Zealand’s digital infrastructure. One NZ is a leading New Zealand digital services and connectivity company with 2.7 million connections and population coverage of more than 98% of New Zealand. This announcement contains summary information about the Company and its activities which is current as at the date of this announcement.

Investors should be aware that certain financial measures included in this announcement are ‘non-GAAP financial measures’ under the New Zealand Financial Markets Authority Guidance Note on disclosing non GAAP financial information, "non-IFRS financial information" under Regulatory Guide 230: ‘Disclosing non-IFRS financial information’ published by ASIC and "non-GAAP financial measures" within the meaning of Regulation G under the U.S. Barrenjoey Markets Pty Limited (acting jointly with Forsyth Barr Limited) and UBS New Zealand Limited are Joint Lead Managers. Against these high advantages conferred by the joint purse arrangement, there was a drawback, however. However, there is a subtle difference between these terms. The first five, however, were poorly carried out and practically amounted to nil in the final success. Any Eligible Shareholder who wishes to participate in the Retail Offer should review the Offer Document and apply in accordance with the instructions set out in the Offer Document and Application Form accompanying the Offer Document or as otherwise communicated to the shareholder. Any decision to acquire New Shares under the Retail Offer should be made on the basis of all information provided in relation to the Offer, including the separate offer document to be lodged with NZX and ASX (the "Offer Document").

This announcement is for information purposes only and is not financial or investment advice or a recommendation to acquire the Company’s securities, and has been prepared without taking into account the objectives, financial situation or needs of prospective investors. The information in this announcement is of a general nature and does not purport to be complete nor does it contain all the information which a prospective investor may require in evaluating a possible investment in the Company or that would be required in a product disclosure statement under the FMCA or a prospectus under the Corporations Act 2001 (Cth). The historical information in this announcement is, or is based upon, information that has been released to NZX Limited ("NZX") and/or ASX Limited ("ASX"). The forward-looking statements made in this presentation relate only to events as of the date of this announcement. Forward looking statements can generally be identified by the use of forward looking words such as "anticipate", "believe", "expect", "project", "forecast", "estimate", "likely", "intend", "should", "will", "could", "may", "target", "plan" and other similar expressions within the meaning of securities laws of applicable jurisdictions. These forward-looking statements include forecast financial information and guidance, statements about IFT’s expectations about the performance of its businesses, statements about the future performance of IFT and statements about the use of proceeds from the Offer.

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