Please note - On Interview Questions: Because of the nature of this Q & A, it means the subject cannot be probed further on each question asked. 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). 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. Ever since Goldman Sachs (GS) issued a sell recommendation at $1,500, gold has been dropping like a rock.On top of that, a lack of inflation and the sluggish world economy has upended, at least for now, the bull market in precious and industrial metals.

New Shares to be issued under the Retail Offer will rank equally with existing Infratil shares on issue and will be quoted on the NZX and ASX from the date of Retail Offer allotment. Geoff Brown has quit his role at NZX as head of market products at NZX. Rick Bettle has resigned from the board of Diligent Board Member Services, as the trial for his role at failed lender Dominion Finance looms. Personally, it’s been a privilege to lead the board through a period of significant change that involved the rebrand to One NZ, the carve-out of the tower assets and navigating through the pandemic. While we continue to see further long-term value in One NZ, we were attracted to realising a strong return now. They think long term and put in place building blocks that lead to long term value though I think their emerging culture of secrecy and aggrogance is wrong. Full control of One NZ provides business plan and capital allocation flexibility and a renewed focus on long term value creation". One NZ CEO Jason Paris said, "Infratil’s increased investment in One New Zealand is a huge vote of confidence in the direction and momentum within our business and means this important New Zealand company will be 100 percent locally owned and managed for the first time.

"Beyond One NZ, we continue to see exciting near-term opportunities for investment across our portfolio, in particular across our digital and renewables platforms. Beca is one of the largest employee-owned professional services consultancies in the Asia Pacific. Telecom has appointed professional company director Sue Sheldon as an independent director. 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. Morrison & Co integrates deep industry specialisation with financial and transactional expertise, with investment decisions supported by research and high-conviction beliefs in long-term trends that bridge business cycles. Our research showed it was the least used feature of desktop software. RD - Actually the SaaS accounting software isn’t that competitive. SI - You seem to have a small band of loyal and devoted users within the software industry, why do you think that is and do you think that will translate into mainstream customers?

At least, that’s what you might think if you took a quick glance at the business headlines this morning. With this in mind I thought it might be a good idea to go right to the horses mouth and fire some questions to Xero founder and CEO Rod Drury. Infratil CEO Jason Boyes said, "Further investment in One NZ is strategically and financially compelling for Infratil and our shareholders. Morrison & Co has managed Infratil since its inception in 1994. Morrison & Co is a global infrastructure investment management specialist, founded in 1988. Morrison & Co manages multiple client mandates, with total funds under management of approximately NZ$30 billion at 31 March 2023. Morrison & Co is a pioneer in innovative infrastructure investing, supporting businesses that help enhance the lives of local communities. Infratil was founded and publicly listed by Morrison & Co in 1994 as a platform offering investors access to long-term infrastructure investment. We have a range of over 50 cavity sliding systems and related products to choose from, suitable for both residential and commercial applications, including special systems for disabled access and healthcare, automatic cavity sliders and self closing options and acoustically rated cavity sliders up to STC43.

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