Management

MIIF has appointed Macquarie Infrastructure Management (Asia) Pty Limited (MIMAL or the manager) as its sole and exclusive manager pursuant to a management agreement.

MIMAL was incorporated in Australia under the Corporations Act 2001 on 3 February 2005 and its current share capital is approximately A$85.0 million. Its registered office and principal place of business is Level 12, No. 1 Martin Place, Sydney, New South Wales 2000, Australia.

MIMAL is a member of the Macquarie Group, a diversified international provider of banking, finance, advisory and investment services headquartered in Sydney, Australia, with approximately 14,200 employees in 28 countries as at 31 March 2012.

The Macquarie Group is one of the global leaders in advising on the acquisition, disposition and financing of infrastructure assets and the management of infrastructure investment vehicles on behalf of third-party investors.

MIMAL is part of the Macquarie Group’s Infrastructure and Real Assets business, which, through special purpose management companies, has approximately A$90.0 billion of assets under management as of 31 December 2011. On behalf of retail and institutional investors it invests in infrastructure assets and businesses, including toll roads, airports and airport-related infrastructure, communications infrastructure, electricity and gas transmission and distribution networks, water utilities and rail. Macquarie Infrastructure and Real Assets has operated since 1996.

MIMAL is licensed by the Australian Securities & Investments Commission as an Australian Financial Services Licensee to provide certain financial services, including giving financial product advice and dealing in investments. The Singapore branch of MIMAL is also licensed by the Monetary Authority of Singapore as a holder of a Capital Markets Services Licence to conduct the regulated activity of fund management in Singapore.

MIMAL’s resources are drawn from Macquarie through a resources agreement dated 10 February 2005 between MIMAL and Macquarie Funds Management Holdings Pty Limited (MFMH). These resources will include non-exclusive use of personnel employed by Macquarie primarily within Macquarie Infrastructure and Real Assets. Personnel and resources have also been provided from MFMH on a non-exclusive basis to other Macquarie Infrastructure and Real Assets-managed funds under similar resources agreements.

Board of Directors of MIMAL

The board of directors of MIMAL is responsible for overseeing the management of MIMAL.

John Stuart Hugh Roberts

John Roberts joined Macquarie in 1991 and is based in Sydney, Australia.

John is Executive Chairman of the Macquarie Funds Group which has US$300 billion of capital under management and includes the activity of the Macquarie Infrastructure and Real Assets division (MIRA). John is on all investment committees or boards of directors in MIRA to provide oversight and strategic direction to individual fund management executive teams.

Previous roles within Macquarie include Head of Europe, Joint Head of Macquarie Capital Advisers and Global Head of Macquarie Capital Funds

John has a Bachelor of Laws degree from the University of Canterbury in New Zealand.

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Frank Kwok

Frank Kwok joined Macquarie Group in 1997 and is an executive director based in Asia. Frank is a member of the investment committees or boards of a number of Macquarie-managed funds.

Frank was previously the global chief operating officer of Macquarie Infrastructure and Real Assets where he was responsible for new funds development, oversight of the legal, finance, tax, human resources and communication functions of the division and Macquarie's investments in its funds. Prior to this role, Frank was the chief financial officer of Macquarie Airports (MAp), a top 50 company listed on the Australian Securities Exchange, and Macquarie Airports Group (MAG), an unlisted closed-end fund.

Frank has Bachelor of Economics (Hons) and Bachelor of Laws (Hons) degrees from the University of Sydney.

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Mark Cruikshank

Mark Cruikshank is a Division Director in the Macquarie Funds Group and the Head of the Tax & Structuring team in Asia Pacific & North America. Mark has 15 years international tax experience, and is responsible for the tax & structuring for all of Macquarie's Asian infrastructure funds within MFG. Specifically Mark's role is to advise on the structuring side of M&A deals, both domestically and cross border. The role requires a strong emphasis on international tax.

Since joining Macquarie in 2003, Mark has been involved in approximately 50 M&A transactions involving infrastructure / infrastructure like assets. Recent examples include the acquisition & refinancing of Taiwan Broadband Communications, the sale of Broadcast Australia, the acquisition of APRR, the French toll road network, the acquisition and subsequent sale of Southern Cross Broadcasting, Brussels Airport, Copenhagen Airport, as well as various re-financings of Sydney Airport.

Mark has also been heavily involved in structuring all of Macquarie's Asian infrastructure funds, including Macquarie's new China Infrastructure fund and China Property fund.

Prior to joining Macquarie, Mark worked at ING Australia Ltd and also spent 4 years in the Financial Services (Tax) group at PricewaterhouseCoopers, with particular emphasis servicing Banking and Funds Management clients.

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