Investor Presentaiton

RAB GROWTH RAB of $8.33 billion (100% basis) 8.33 8.08 7.37 6.73 6.09 5.83 5.64 5.41 $ billion 4.75 4.57 4.05 3.67 3.34 3.12 3.03 2.86 Victoria Power Networks SA Power Networks 3.06 3.32 3.51 3.58 2.55 2.61 2.71 2.75 2006 2007 2008 2009 2010 2011 2012 HY 2013 HY 2013: 3.1% growth in RAB (incl. AMI) 12 months to 30 June 2013: 8.7% growth in RAB (incl. AMI) 7-8% p.a. CAGR growth in RAB (incl. AMI) expected over the 5 year regulatory periods to 2015 Source: Asset Companies' estimates. Victoria Power Networks figures include AMI RAB SPARK INFRASTRUCTURE INVESTOR PRESENTATION - NOVEMBER 2013 15 spark infrastructure

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