SPH Notice - Infratil Limited and Infratil Investments

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Disclosure of beginning to have substantial holding
Section 276, Financial Markets Conduct Act 2013
To NZX Limited
and
To Contact Energy Limited (CEN)
Date this disclosure made: 11 July 2025
Date on which substantial holding began: 11 July 2025
Substantial product holder(s) giving disclosure
Full name(s): Infratil Limited (Infratil) and Infratil Investments Limited (Infratil
Investments)
Summary of substantial holding
Class of quoted voting products: ordinary shares in CEN
Summary for Infratil
For this disclosure,—
(a) total number held in class: 93,278,396
(b) total in class: 985,275,104
(c) total percentage held in class: 9.467%
Summary for Infratil Investments
For this disclosure,—
(a) total number held in class: 93,278,396
(b) total in class: 985,275,104
(c) total percentage held in class: 9.467%
Details of relevant interests
Details for Infratil
Nature of relevant interest(s): Relevant interest in CEN ordinary shares held by Infratil
Investments, as (i) Infratil and Infratil Investments are related bodies corporate, (ii)
Infratil has the power to exercise, or control the exercise of, the right to vote attached to
20% or more of the voting products of, Infratil Investments, and (iii) Infratil has the power
to acquire or dispose of, or to control the acquisition or disposal of, 20% or more of the
voting products of Infratil Investments.
For that relevant interest,—
(a) number held in class: 93,278,396

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(b) percentage held in class: 9.467%
(c) current registered holder(s): N/A
(d) registered holder(s) once transfers are registered: Infratil Investments
Details for Infratil Investments
Nature of relevant interest(s): registered holder and beneficial owner of ordinary shares in
CEN
For that relevant interest,—
(a) number held in class: 93,278,396
(b) percentage held in class: 9.467%
(c) current registered holder(s): N/A
(d) registered holder(s) once transfers are registered: Infratil Investments
Details of transactions and events giving rise to substantial holding
Details of the transactions or other events requiring disclosure:
On 11 September 2024, Contact Energy Limited (Contact) and Manawa Energy Limited
(Manawa) entered into a scheme implementation agreement (the SIA) under which
Contact agreed, subject to the satisfaction of certain conditions, to acquire all of the shares
in Manawa by way of a High Court approved scheme of arrangement under Part 15 of the
Companies Act 1993 (the Scheme). The Scheme was approved by Manawa’s shareholders
on 18 June 2025, and the final orders of the High Court to approve the Scheme were
granted on 3 July 2025. In accordance with the terms of the SIA and the Scheme Plan
approved by the High Court, the Scheme was implemented on 11 July 2025. On the
record date for the Scheme, Infratil Investments held 159,997,249 Manawa shares. On
implementation of the Scheme, all of the shares in Manawa were transferred to Contact,
and Manawa’s shareholders (excluding Ineligible Overseas Shareholders, as defined in the
SIA) received, for every Manawa share held on the record date for the Scheme:
(i) $1.12 in cash; plus
(ii) 0.5830 new Contact shares.
Additional information
Address(es) of substantial product holder(s): 5 Market Lane, Wellington, 6011, New
Zealand
Contact details: Head of Legal
Email: legal@hrlmorrison.com
Phone: +64 27 706 6610
Nature of connection between substantial product holders: Infratil Investments is a
subsidiary (within the meaning of section 5 of the Companies Act 1993) of Infratil and is
therefore a related body corporate and associated person of Infratil (within the meanings
of those terms in sections 12(1) and (2) of the Financial Markets Conduct Act 2013).

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Name of any other person believed to have given, or believed to be required to give, a
disclosure under the Financial Markets Conduct Act 2013 in relation to the financial
products to which this disclosure relates: not applicable.
Certification
I, Nicholas Lough, certify that, to the best of my knowledge and belief, the information
contained in this disclosure is correct and that I am duly authorised to make this disclosure
by all persons for whom it is made.