Investor Presentaiton

INVESTMENT PROPOSITION Yield plus Growth based on Quality HY 2013 distribution of 5.5cps and FY 2013 guidance of 11.0cps (up 4.8% on FY 2012). Yield of 6.7%¹ Reliable cashflows to Spark of $91.3 million for the six months to 30 June 2013 Distributions fully covered by operating cashflows Expected growth in distributions remains at 3-5% per annum to 2015 Solid yield and growing distribution profile Quality assets delivering strong reliability, efficiency and safety Strong investment grade ratings Asset Companies de-leveraging towards 75% net debt to RAB by 2015 No capital raisings to fund Asset Company capex until 2015 at the earliest Deleveraging at the Spark level to further strengthen balance sheet Quality Asset Companies generating strong cashflows Regulatory environment supports investment Organic growth a key priority • Regulatory certainty to 2015/16 Regulatory regime remains incentive based with opportunities for outperformance Revenue and RAB are inflation protected. Pass through provisions apply for operating and capital costs The Australian Energy Market Commission (AEMC) continues to support investment through rule changes which drive a sensible framework 7-8% CAGR in RAB over 2010-15 RAB growth to 2015 at zero premium Current investments are generating reliable cashflows, possess strong balance sheets and consistently outperform regulatory benchmarks Focus on continuous improvement in capital and cost management, network planning, safety and customer service 1. Based on FY 2013 distribution guidance of 11.0cps and a closing market price of $1.64 on Friday, 15 November 2013 spark infrastructure SPARK INFRASTRUCTURE - INVESTOR PRESENTATION - NOVEMBER 2013 6

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