Investor Presentaiton

Security structure NSW State Blue Asset Hold Trust ERIC Alpha Holdings Pty Limited 100% Blue Asset Partner Trust 50.4% ERIC Alpha Asset Trust 1 (2/3/4) Each 12.4% Total 49.6% 100% 4 3 3 Blue Op Hold Trust 100% 4 ERIC Alpha Operator Trust 1 (2/3/4) ERIC Alpha AUP Trust 1 (2/3/4) Blue Op Partner Trust Blue PES Partner Trust Each 12.4% Total 49.6% Each 12.4% Total 49.6% 50.4% 50.4% 5 ADMHC 6 Main Lease Ausgrid Asset Partnership NOP On-Loan 6 Sub-lease NAP On-Loan 100% External financiers Security Net Security includes: Ausgrid Finance Pty Limited Ausgrid Operator Partnership 100% Ausgrid Management Pty Limited 1 PLUS ES Partnership1 1 PLUS ES Management 1 Pty Limited 100% PLUS ES Management 2 Pty Limited 1 2) 3) 1) General security agreement in respect of all of the assets and undertakings of Ausgrid Finance Pty Limited and Ausgrid Management General security agreement in respect of all the assets and undertakings of Ausgrid Asset Partnership, the Ausgrid Operator Partnership and the PLUS ES Partnership General security agreements from each partner in the Ausgrid Asset Partnership, the Ausgrid Operator Partnership and the PLUS ES Partnership 4) 5) Specific security agreement over the shares and units in each partner in the Ausgrid Asset Partnership, the Ausgrid Operator Partnership and the PLUS ES Partnership Mortgage of the Network Lease 6) Tripartite deed in respect of the Network Lease (between ADMHC and AAP) and sub-lease (between AAP and AOP) arrangements 1. PLUS ES has another subsidiary - Active Stream Pty Limited that holds legacy metering services and other contracts but is not a guarantor or security provider Ausgrid 37

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