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ASX Release Level 17, 56 Pitt St, T 02 8031 9900 Infigen Energy Ltd Sydney NSW 2000 infigenenergy.com ABN 39 105 051 616 Australia Infigen Energy Trust ARSN 116 244 118 20 August 2020 Appendix 4E and 2020 Annual Report Attached are the following reports relating to Infigen Energy (ASX: IFN): • Appendix 4E (Preliminary Final Report for the year ended 30 June 2020) • Infigen Energy 2020 Annual Report Ends This announcement was authorised by: Managing Director and Chief Executive Officer, Ross Rolfe AO. For further information please contact: Peter Campbell General Manager, Investor Relations [email protected] +61 403 936 030 About Infigen Infigen is leading Australia to a clean future, today. Our strategy is to provide Australian businesses with firm supplies of reliable and competitively priced clean energy. For personal use only We generate renewable energy from our fleet of owned wind farms. We also source renewable energy from our portfolio of contracted assets. We manage intermittency risk with our fast start assets, enabling us to provide our customers with firm prices and firm volumes for renewable energy. For more information, please visit: www.infigenenergy.com infigenenergy.com | 1 Infigen Energy (ASX: IFN), a stapled entity comprising Infigen Energy Limited (‘IEL’) (ABN 39 105 051 616) and Infigen Energy Trust (‘IET’) (ARSN 116 244 118) Reporting period Current Period: 1 July 2019 – 30 June 2020 Previous Corresponding Period: 1 July 2018 – 30 June 2019 Results for announcement to the market Revenues from ordinary activities Up 13.9% 293,186 257,506 Profit from ordinary activities after tax attributable Down 91.5% 3,457 40,891 to members Net profit for the period attributable to members Down 91.5% 3,457 40,891 Dividends or distributions Infigen did not declare a distribution in relation to the six-month period ended 30 June 2020 (six-month period ended 30 June 2019: 1 cent per security). On 17 June 2020, the Infigen Board determined not to pay a distribution in relation to the six-month period to 30 June 2020, and on 3 August 2020, the Infigen Board determined to suspend distributions indefinitely. Net tangible asset backing per security Net tangible assets per stapled security1 51 cents 50 cents Associates and joint venture entities Forsayth Wind Farm Pty Limited 50% 50% Infigen Suntech Australia Pty Limited 50% 50% RPV Developments Pty Limited 32% 32% Change of control of Infigen On 5 August 2020, Iberdrola Renewables Australia Pty Limited attained a greater than 50% voting power in Infigen giving it effective control of Infigen. Please refer to the Annual Report for further details of the change of control. Control gained over entities during the period Nil. Control lost over entities during the period Nil. For personal use only For all other information required by Appendix 4E, please refer to the following documents lodged with the Australian Securities Exchange (ASX) on 20 August 2020: • ASX Release • Annual Report • Annual Results Presentation 1 FY20 Net tangible assets accounts for lease right-of-use assets. Prior years disregarded lease right-of-use assets as AASB 16 Leases had not come into effect. For personal use only For personal use only For personal use only For personal use only Nameplate Asset State Capacity (MW) Owned Renewable Energy Assets Commercial Operation Date 1 Alinta Wind Farm 89.1 WA Jul 2006 2 Lake Bonney 1 Wind Farm 80.5 SA Mar 2005 3 Lake Bonney 2 Wind Farm 159.0 SA Sept 2008 4 Lake Bonney 3 Wind Farm 39.0 SA Jul 2010 5 Capital Wind Farm 140.7 NSW Jan 2010 6 Capital East Solar Farm 0.1 NSW Sept 2013 7 Woodlawn Wind Farm 48.3 NSW Oct 2011 8 Bodangora Wind Farm 113.2 NSW Feb 2019 Contracted Renewable Energy Assets Contract Start Date 9 Kiata Wind Farm 31.1 VIC Sept 2018 10 Toora Wind Farm 21.0 VIC Jan 2020 11 Cherry Tree Wind Farm 57.6 VIC Jul 2020 12 Collector Wind Farm 136.0* NSW Expected H1FY21 Total Renewable Energy Assets 915.6 Acquisition/Commercial Firming Assets Operation Date 13 Smithfield OCGT 123.0 NSW Acquired May 2019 14 SA Battery 25MW/52MWh SA Dec 2019 15 South Australian Gas Turbines 120.0 SA Expected Q1FY21 * Infigen contracts 60% of the output of the 227MW Collector Wind Farm. 1 8 13 15 12 5 6 2 3 7 For personal use only 4 14 11 9 10 Owned Renewable Energy Assets Contracted Renewable Energy Assets Firming Assets The safety, wellbeing, engagement and retention of our people. The satisfaction, retention, diversification and growth of our customer base. The maintenance of community support and relations. The conservation of our natural environment on a global and local scale. The continuation of a stable and responsible set of suppliers and contractors. Fostering a predictable policy environment with a holistic approach to emissions, reliability and prices. For personal use only The generation of appropriate risk adjusted returns from the successful execution of our business strategy which in turn generates continued support for further growth. o Safety: 1 LTI in October 2019; LTIFR of 2.27 o Employee Net Promoter Score of +68 o C&I customer load growth of 30%. o Innovative partnership with Swinburn Uni. o Delivering our Bushfire Relief Plan. o Developing broader sustainability plans with local communities. o 99% of generation renewable in FY20 o Voluntarily offset 20% of FY20 emissions o Mapped over 200 suppliers ahead of Modern Slavery Reporting o Supporting our suppliers through COVID-19. o 16 Regulatory Submissions o Submissions published on Infigen’s website for transparency. For personal use only o EBITDA of $163.3m o Recommended takeover offer at 92 cps. The Board is responsible for establishing and overseeing Infigen’s risk management framework. The Board has delegated oversight of the risk management framework to the Audit, Risk and Compliance Committee (ARCC). Our Enterprise Risk Management (ERM) framework governs the identification, management and escalation of risk to ensure that those with the potential to have a material effect on the business are eliminated or mitigated. Key pillars of the ERM framework include: • Infigen’s Risk Appetite Statement, which establishes the level of risk that the business will accept, tolerate or avoid in pursuit of its business strategy. • Regular reporting to the ARCC which outlines the nature of the risk, the risk owner and the current internal controls that control or mitigate these material risks. To implement the ERM, Infigen operates a Three Lines-of-Defence Model. The first line of defence is the Executive Leadership Team who are responsible for each of their business functions. The second line of defence is separate and independent oversight, for example facilitated by the Energy Risk Management Committee, Health and Safety Committee and Treasury Risk Management Committee. The third line of defence is internal and external audit, reporting directly to the Board and the ARCC. The key risks to Infigen achieving its financial, operational and strategic objectives are outlined below. Failure to manage or control these risks may result in adverse reputational, financial or operational impacts to Infigen. RISK AND DESCRIPTION OUR APPROACH 01. Our People Safety and wellbeing - Our priority is the safety and wellbeing of our people. Work related injury, harm, illness or - Hierarchy of controls to reduce or eliminate risk: loss of life among our people. engineering, protective equipment and behavioral protocols. - Regular review of safety by the Board, the ARCC, and the Health and Safety Committee. - Safety is a gateway factor considered by the Board in the award of any incentive payments. - Safety training that is fit for purpose is provided to all our employees. - Infigen’s head office staff have been working remotely, and site staff practicing social distancing protocols during the COVID-19 crisis. Numerous initiatives were employed to maintain the engagement and wellbeing of our people during this time. For personal use only RISK AND DESCRIPTION OUR APPROACH Employee engagement and retention - Personalised training and development plans for all employees. Continued creation of security holder value requires high levels of - Half yearly employee engagement survey with engagement from our people and outcomes informing future programmes supplemented by short “pulse” surveys on specific retention of high performing staff. items. - Regular employee briefings, information sharing and education sessions. - Infigen remains focused on engaging and retaining our high-performance team during the COVID-19 crisis. Staff engagement and motivation has been regularly monitored and remains very high during this time and while remote working. 02. Our Customers Customer satisfaction - Substantial investment in people and systems with the intention of exceeding customer expectations. Customer satisfaction, retention and growth are critical to our business - Personal relationship managers providing bespoke success. energy solutions. - Continued product development that responds to and drives changing customer demands for energy. 03. Our Communities Community support - Extensive consultation with local communities, following the Observations and Recommendations of We require strong relationships with the Australian National Wind Farm Commissioner, the communities in which we operate. supplemented by the Clean Energy Council’s Community Engagement Guidelines. - Structured landholder engagement practices throughout our assets’ life cycles. - Regular financial contributions to our communities. - Complaints hotline allowing issues to be raised and addressed. - Local employment promoted at our sites. - Reconciliation Action Plan initiated in FY20. - Establishing site specific sustainability strategies, providing remote and regional communities opportunities to voluntarily participate in wildlife regeneration and sustainable land management practices. 04. Our Environment Acute and chronic environmental - Transforming environmental risks into long term risks opportunities is core to our business strategy. Changing climate and weather - Board approved Enterprise Risk Management patterns may affect our operating framework seeks to identify and manage risk.

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