Ausnet Services : Non-Executive Director Retirement and Appointment

28 May 2018

TO:ASX Limited Singapore Exchange Securities Trading Limited

Non-Executive Director Retirement and Appointment

Retirement of Mr Ho Tian Yee

AusNet Services advises that Mr Ho Tian Yee has informed the Board that he will not seek re-election at the 2018 Annual General Meeting and will retire as a Director effective from 28 May 2018.

Mr Ho joined the Board in September 2008 and has been a dedicated and important member of the Board during his tenure.

The Board takes this opportunity to thank Mr Ho for the significant contribution he has made to AusNet Services over almost 10 years.

Appointment of Mr Alan Chan Heng Loon

AusNet Services announces the appointment today of a Non-Executive Director, Mr Alan Chan Heng Loon. Mr Chan has been nominated by Singapore Power, one of AusNet Services' substantial shareholders, to fill the vacancy arising from Mr Ho's retirement.

Mr Chan has significant experience in both the government and corporate sectors. From 2002 to 2017 he was Chief Executive Officer and a director of Singapore Press Holdings Ltd (SPH) and was responsible for managing the SPH group's portfolio of businesses. His other prior directorships include Singapore Power Limited and The Development Bank of Singapore Ltd. Before joining SPH, Mr Chan had a career in government spanning 25 years. Some of his government appointments included Permanent Secretary of the Ministry of Transport, Deputy Secretary of the Ministry of Foreign Affairs, Principal Private Secretary to Senior Minister Lee Kuan Yew and Director of Manpower, Ministry of Defence.

Mr Chan has also served as Chairman of the Urban Redevelopment Authority (Singapore) and was Chairman of the Corporate Governance Council that reviewed the Singapore Code of Corporate Governance in 2012.

Mr Chan is currently Chairman of the Land Transport Authority (Singapore), Chairman of the Singapore-China Foundation and a member of the Public Service Commission (Singapore). He is also Deputy Chairman of Pavilion Energy Pte Ltd and Pavilion Gas Pte Ltd.

Mr Chan holds a Diplome d'Ingenieur from the Ecole Nationale de l'Aviation Civile, France and MBA (with Distinction) from INSEAD, France. He is a President's Scholar and was conferred the Public Administration Medal (Gold and Silver) and Meritorious Service Medal for his contributions to public service.

Mr Chan has been appointed to the Remuneration and Nomination Committees.

The Board welcomes Mr Chan to AusNet Services Ltd and looks forward to his contribution as a Non-Executive Director.

Claire HamiltonCompany Secretary