Australia

SA Power Networks

The Company acquired a 50% interest in ETSA Utilities, Australia in January 2000. In September 2012, ETSA Utilities changed its name to SA Power Networks. Currently, Power Assets holds a 27.93% interest in SA Power Networks.

SA Power Networks is the sole electricity distributor in the State of South Australia, Australia and serves about 899,000 customers. The principal business activities of SA Power Networks are the operation, management and administration of the electricity distribution network. The network supplies electricity to the major populated areas of South Australia except those located in remote areas which have their own generation and distribution capability. The majority of SA Power Networks' revenue is regulated by government regulations.

Website: http://www.sapowernetworks.com.au

Powercor Australia

The Company acquired a 50% interest in Powercor Australia in September 2000. Currently, Power Assets holds a 27.93% interest.

Powercor Australia is the largest electricity distribution company in Victoria, Australia and serves more than 868,000 customers. Powercor Australia's distribution network is the largest in Victoria which covers more than half of the State, including major industrial and growth areas in Western Melbourne and several of Victoria's largest provincial centres. The area where the distribution network is serving takes approximately one third of Victoria's population and manufacturing output. It also accounts for more than one quarter of Victoria's gross domestic product. The majority of Powercor Australia's electricity distribution revenues is regulated by government regulations.

Website: http://www.powercor.com.au

CitiPower

The Company acquired a 50% interest in CitiPower in July 2002. Currently, Power Assets holds a 27.93% interest.

CitiPower is one of the five electricity distributors in the State of Victoria, Australia. CitiPower's distribution network covers the Central Business District in Melbourne and its densely populated inner suburbs. Therefore, it has the highest load density in Victoria, Australia with approximately 334,000 customers. It also has a diverse customer mix, including residential, commercial, manufacturing and industrial. The majority of CitiPower's electricity distribution revenues is regulated by government regulations.

Website: http://www.citipower.com.au

Australian Energy Operations Pty Ltd.

A Power Assets and CK Infrastructure 50/50 joint venture company, Transmission General Holdings (Australia) Pty Ltd (TGHA) was established in July 2012 for developing transmission assets in Australia. TGHA’s business includes the design, build and operation of transmission lines and associate terminal stations to transport the renewable energy generated from the Mt. Mercer Wind Farm and the Ararat Wind Farm in Victoria to the main power grid.

In March 2017, TGHA was renamed Australian Energy Operations Pty Ltd. (AEO) to reflect its expanded scope of business in exploring energy - related investment opportunities.

In 2019, AEO completed the design and construction of the transmission network for the Moorabool Wind Farm and the Elaine Wind Farm, both through AEO's Elaine Terminal Station with the total capacity of renewable energy generation connected to the grid increased to 777 MW.

Website: https://www.aeoperations.com.au

Australian Gas Networks Limited

In October 2014, the Company, together with CK Hutchison Holdings Limited (CKHH) and CK Infrastructure Holdings Limited (CKI), acquired Envestra Limited. Envestra changed its name to Australian Gas Networks Limited. Currently, Power Assets holds a 27.5% stake of Australian Gas Networks.

Australian Gas Networks is one of Australia's largest natural gas distribution companies which owns strategic gas distribution networks and transmission pipelines that operate in key population growth centres in South Australia, Victoria and Queensland, as well as in smaller centres in New South Wales and the Northern Territory. Australian Gas Networks has about 26,700km of natural gas distribution networks and 1,100km of transmission pipelines, serving over 1.36 million customers.

In May 2021, Australian Gas Networks and Multinet Gas commissioned the 1.25MW Hydrogen Park South Australia (HyP SA). HyP SA is the first renewable gas project in Australia to produce renewable hydrogen for blending with natural gas and supply to customers via existing gas distribution network. Australian Gas Networks is developing a range of innovative energy projects across Australia and across the gas value chain.

Website: http://www.australiangasnetworks.com.au

CK William

In May 2017, CK William UK Holdings Limited (“CK William”, a joint venture consists of Power Assets Holdings Limited, CK Infrastructure Holdings Limited (CKI), CK Asset Holdings Limited (CK Asset)) privatized DUET Group. Currently Power Assets holds 20% of the shareholdings.

CK William has interest in four major assets:

United Energy (66%): Melbourne electricity distribution network
Multinet Gas (100%): Victorian gas distribution network
Dampier to Bunbury Pipeline (100%): The natural gas transmission pipeline connecting the Carnarvon/Browse Basins with Perth
Energy Developments (100%): Owns and operates power generation facilities with more than 1,150MW of installed capacity across Australia, Europe and North America

United Energy

The Company acquired United Energy together with CK Infrastructure Holdings Limited (CKI) and CK Asset Holdings Limited (CK Asset). Power Assets holds 13.2% of the shareholdings.

United Energy is one of the five electricity distributors operating in Victoria. Its 13,400km electricity distribution network covers the south‐east Melbourne and the Mornington Peninsula and serves over 700,000 customers. The network delivers to approximately 25% of Victoria's population, largely in urban areas.

Website: http://www.unitedenergy.com.au

Multinet Gas

The Company acquired Multinet Gas jointly with CK Infrastructure Holdings Limited (CKI) and CK Asset Holdings Limited (CK Asset). Power Assets holds 20% of the shareholdings.

Multinet Gas is the largest natural gas distribution company in Victoria which owns and operates a network of approximately 10,100km covering the eastern and south‐eastern suburbs of Melbourne. The Company serves around 718,000 residential, commercial & industrial customers.

Website: http://www.multinetgas.com.au

Dampier to Bunbury Pipeline

The Company acquired Dampier to Bunbury Pipeline (DBP) together with CK Infrastructure Holdings Limited (CKI) and CK Asset Holdings Limited (CK Asset). Power Assets holds 20% of the shareholdings.

DBP is a Western Australia's key gas transmission pipeline stretching almost 1600km-long and linking the gas fields located in the Carnarvon (North West Shelf) and Browse Basins with population centres and industrial areas in the south‐west of the State. The total length of this pipeline network is 4,100km and has the capability of delivering up to 845TJ per day.

Website: http://www.dbp.net.au

Energy Developments Pty Limited

The Company acquired Energy Developments PTY Limited (EDL) jointly with CK Infrastructure Holdings Limited (CKI) and CK Asset Holdings Limited (CK Asset). Power Assets holds a 20% stake, while CKI and CK Asset each holds 40%.

EDL is an international provider of safe, clean, low emissions, remote energy solutions and renewables. It is playing a role in the world's transition from traditional energy sources to decarbonised solutions.

EDL owns and manages an international portfolio of about 100 projects comprising over 1,156MW of power generation facilities in Australia, North America and Europe, utilising a range of fuel sources operating in five main areas: remote energy, natural gas (NG, CNG, LNG & RNG) and diesel, landfill gas, waste coal mine gas, solar and wind.

As the world transitions to renewables, EDL is growing its portfolio of world-class wind and solar projects across Australia, with an increasing emphasis on market leading high penetration renewables and hybrid renewables for off-grid locations. EDL has a total of 163MW of renewables and hybrid sites in Australia.

In Karratha, Western Australia, Energy Developments has built and operates a 200 tonnes per day LNG production facility as part of the West Kimberley Power Project (WKPP).

Website: https://www.edlenergy.com