Infratil announced that Brookfield Asset Management Inc. and it had executed a conditional agreement to acquire Vodafone New Zealand Limited from Vodafone Group Plc for an enterprise value of NZD 3.4 billion (US$ 2.2 billion).

As set out in that announcement, completion of the Acquisition was conditional on Overseas Investment Office approvals and Commerce
Commission clearance. Infratil confirms that each of the conditions has now been satisfied, and completion of the transaction
is expected to occur on July 31, 2019.

At Infratil's FY2019 results announcement on May 17, 2019, Infratil provided an FY2020 Underlying EBITDAF guidance range of US$ 635 million to US$ 675 million. This included a seven-month contribution from Vodafone NZ, based on a 49.9% share of Underlying EBITDA from 1 September 2019. Based on an expected completion date of July 31, 2019, Infratil advises that it now expects its FY2020
Underlying EBITDAF to be in the range of US$ 655 million to US$ 695 million, representing an eight-month contribution from Vodafone NZ.