Jason Boyes
CEO & Director

[Foreign Language] I'm Jason Boyes, the Chief Executive of Infratil and welcome to Infratil's annual results presentation for the year ended 31 March 2026. I'm here with our CFO, Andy Carroll. Good morning, Andy.

Andrew Carroll
Chief Financial Officer

Good morning.

Jason Boyes
CEO & Director

And together, we're going to run through the annual results presentation that was released to the ASX and the NZX this morning. You can also find our annual report and a whole bunch of other supporting information in that release. So without further ado, let's get going.

This is an overview of the company that all of you will hopefully be familiar with. We're very proud of the strong track record that we're showing on the right-hand side there, very strong growth over many periods and remarkable over such a long period since inception.

If we then switch to having a quick look at the portfolio. This is a snapshot of the portfolio as at 31 March. We had some farewells and a welcome during the year. During the year, we sold RetireAustralia, Infratil Property and FortySouth, our towers business. We also sold Manawa Energy into Contact Energy as we progressed our medium-term target that we described last year of divesting up to $1 billion of assets over the medium term. One welcome to