Infratil Receives Investment Grade Credit Rating

Infratil Limited 5 Market Lane, PO Box 320, Wellington, New Zealand Tel +64-4-473 3663 www.infratil.com

22 December 2025


Infratil Receives Investment Grade Credit Rating

Infratil Limited (Infratil) is pleased to announce that S&P Global Ratings has assigned Infratil
an inaugural issuer investment grade BBB+ credit rating with a stable outlook. The credit
rating reflects Infratil’s stable funding, underpinned by substantial permanent capital and a
track record of strong investment performance.

Andrew Carroll, Infratil’s CFO, said “It is pleasing that the strength, quality and resilience of
Infratil’s business and track record has been recognised with a strong investment grade
rating. Securing an investment-grade credit rating is a key milestone in Infratil’s strategy to
broaden funding options, enhance borrowing terms and reduce financing costs. After nearly
three decades of strong funding support, Infratil’s scale and this rating positions us to access
new debt markets and strengthens our capacity for future growth.”

This announcement is made pursuant to NZX Listing Rule 3.22.1(a). The credit rating
assigned by S&P Global Ratings to Infratil Limited is an issuer credit rating. Infratil has not
obtained a specific issue credit rating in relation to its Infrastructure Bonds which are quoted
on the NZX.


Enquiries should be directed to:

Brett Jackson
Investor Relations Director
Email: brett.jackson@infratil.com


Authorised for release by:

Andrew Carroll
Chief Financial Officer