Investor Presentaiton

BUSINESS OBJECTIVE INFRASTRUCTURE FOR THE FUTURE CAPITAL ALLOCATION HIERARCHY Funding is prioritised toward Value Enhance investment in existing businesses Value Enhance Regulated Assets RAB growth in regulatory determinations Actionable ISP projects (e.g. Project EnergyConnect) Renewable Energy Zones (e.g. Central West) VPN, SAPN, TransGrid Value Enhance Contracted Connection Assets Value Build Contracted Renewables • New renewable connections Solar, Wind Transmission infrastructure (e.g. NETI) . Battery storage • Grid-scale storage, micro-grids and other grid-assets necessary to support energy transition Renewable Energy Zones, Green Hydrogen, Virtual Power Plants • TransGrid (transmission) Spark Infrastructure VPN, SAPN (distribution opportunities) Value Acquire Essential Services Infrastructure Complementary asset opportunities, and potential diversification Assets with organic growth options • Assets supporting the energy transition Pre-emptive rights on existing assets Spark Infrastructure . Pipeline of Growth can be fully funded through DRP and substantial Debt Capacity Assumes Distribution Reinvestment Plan (DRP) will remain active; scope of funds raised expanded to support a broader range of growth opportunities Spark Infrastructure is on a credit rating glide path from Baa1 as regulatory resets reduce FFO/Net Debt ratio but is committed to investment grade rating Additional debt products such as convertible bonds or an Australian medium-term note (AMTM) will be considered when appropriate Growth supported by AEMO's 2020 ISP + VPN/SAPN regulatory submissions Spark Infrastructure I Investor Presentation | August 2020 38

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