Infratil (IFT) Investor presentation summary

Board and governance focus

• Priorities include shareholder engagement, improved disclosure, and leveraging the Morrison partnership for sector expertise.

• Board composition features experienced directors with diverse backgrounds.

Portfolio overview and recent activity

• Portfolio is diversified across digital (67%), renewables (20%), healthcare (8%), and airports (5%).

• Recent actions include increasing CDC ownership to 49.75%, merging Manawa and Contact, and selling RetireAustralia.

• Investments span Australasia, US, Europe, and Asia, with significant exposure in Australia (44%) and New Zealand (35%).

Strategy and growth objectives

• Strategy centers on active portfolio management, focusing on cashflow generators, mature growth platforms, and future growth platforms.

• Targeting 11–15% annual returns over 10 years, with a realized 10-year return of 19% p.a.

• Refinements include clearer asset roles, fewer but larger investments, and tolerance for concentration in key businesses.