• Infratil to acquire 12.04% stake in CDC Data Centres from Commonwealth Superannuation Corporation
• Infratil, Future Fund and CSC to own 49.75%, 34.55% and 12.04% of CDC respectively
• CDC has grown to become a strategic data centre provider with ~2.5GW of capacity

Infratil Limited ('Infratil') (NZX/ASX: IFT) has announced that, alongside The Future Fund ('Future Fund'), it has exercised pre-emption rights to acquire a 12.04% stake in CDC Data Centres ('CDC') from Commonwealth Superannuation Corporation ('CSC') following an external sale process launched in November 2024. Under the agreement, Infratil will acquire approximately 1.58% of CDC's ordinary shares for ~A$216 million, with Future Fund acquiring the remainder (10.46%) of the 12.04% stake sold by CSC. Upon completion, Infratil, Future Fund and CSC will own 49.75%, 34.55% and 12.04% of CDC, respectively. The CDC management, led by CEO Greg Boorer as the largest individual shareholder, will retain 3.66% of shares. The consideration represents an Equity Value of A$13.7 billion (100% basis) and is consistent with Infratil's return requirements. Infratil CEO Jason Boyes stated that 'CDC has been one of our most successful investments, and this increased ownership reinforces our commitment to investing in 'ideas that matter'. It reflects our strong conviction in CDC and the powerful tailwinds driving digital infrastructure.' With a total of ~2.5GW of capacity across its operational, under construction and development pipeline, CDC is a strategic data centre provider of global scale and a long-term partner to some of the largest and most important organisations in the world. The acquisition will be funded through Infratil's existing debt capacity and cash reserves, and is subject to customary closing conditions, including Foreign Investment Review Board ('FIRB') approval.

CDC's growth continues to accelerate, driven by strong customer demand, ongoing cloud adoption, and Generative AI. This is demonstrated by recently signed customer contracts and the expansion of its forecast build capacity. CDC is well-positioned to make the investments needed for sustained growth across key markets.

Infratil and Future Fund's increased shareholding is an endorsement of CDC's growth as a leading data centre provider in the region, and its important role in the increasingly digitally connected society. Together, Infratil, Future Fund and CSC will continue to execute on CDC's growth goals and ensure that it continues to position itself for growth in relevant markets and consolidate its status as one of the premier partners to the world's largest and most critical organisations.