Investor Presentaiton

CPS INFRASTRUCTURE FOR THE FUTURE DISTRIBUTION OUTLOOK Outlook rebased to reflect VPN and SAPN' 5-year regulatory determinations and reflecting transition to tax payer 16.00 12.00 12.00 8.00 4.00 Reg. Period Distribution Profile Reg. Cash Distribution Outlook Period 16.00 15.25 15.00 2020 14.50 2.1 13.50 Full-year distribution of 13.5 cps -3.0 12.50 Franking Credits 2021 Full-year rebased distribution guidance of 12.5 cps ■Trust Distribution 0.00 FY15 FY16 FY17 FY18 FY19 FY20 FY21 2022-25 Rebased distribution + CPI Interest on Loan Notes Distribution Outlook Historic Distributions • Fully covered by operating cash flow Retained cumulative Standalone Operating Cash Flow of 6.5cps (c.$110m) over last 5 years Rebased 12.5cps for 2021 Estimated Franking of ~3.0 cps in 2021 Targeting growth in distribution ~CPI to 2025 • Estimated franking of 25% to 2025 Sustainability based on operating cash flow across the period ISP Major Project growth and Value Build growth to be funded by DRP and debt, not at expense of distributions Spark Infrastructure I Investor Presentation I February 2021 7

View entire presentation