New Zealand Professional Investment Services Firm

Forsyth Barr

We are proud to be a New Zealand owned firm, with 21 offices throughout the country and over 300 employees. We assist personal, institutional and corporate clients providing a full range of investment services.

Forsyth Barr is a foundation New Zealand Exchange firm (NZX) and accredited market participant. We have been confirmed by the Financial Markets Authority as a Qualifying Financial Entity (QFE).

Research is the cornerstone of our advice. We have one of New Zealand's leading teams of analysts. Our global affiliations ensure comprehensive research coverage of all major investment markets.

New Zealand Professional Investment Services Firm, Forsyth Barr

Equity Bottom-Up

<ul><li>Infratil (IFT) has announced it sold part of its stake in Contact Energy (CEN) in a fully underwritten block trade for NZ$495m.</li><li>IFT has committed to holding its remaining ~9% stake in CEN until CEN releases its FY26 results in August 2026.</li><li>We expect IFT to give further details at its FY26 results on Tuesday 26 May.</li></ul>

Infratil (IFT) has announced it sold part of its stake in Contact Energy (CEN) in a fully underwritten block trade for NZ$495m.IFT has committed to holding its remaining ~9% stake in CEN until CEN releases its FY26 results in August 2026.We expect IFT to give further details at its FY26 results on Tuesday 26 May.

Infratil (IFT): Reduces CEN Stake By NZ$495m