Announcement : Connected Transaction and Discloseable Transaction – Formation of a Joint Venture in connection with the Proposed Acquisition by Bidco by way of the Trust Schemes of all of the Stapled Securities in issue of APA which are listed on the Australian Securities Exchange – (1) Despatch of Circular; (2) Closure of the Register of Members for determining the entitlement to attend and vote at the General Meeting

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

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CONNECTED TRANSACTION AND DISCLOSEABLE TRANSACTION

FORMATION OF A JOINT VENTURE IN CONNECTION WITH

THE PROPOSED ACQUISITION BY BIDCO BY WAY OF THE TRUST SCHEMES

OF ALL OF THE STAPLED SECURITIES IN ISSUE OF

APA WHICH ARE LISTED ON THE AUSTRALIAN

SECURITIES EXCHANGE

(1) DESPATCH OF CIRCULAR

(2) CLOSURE OF THE REGISTER OF MEMBERS FOR DETERMINING THE ENTITLEMENT TO ATTEND AND VOTE AT THE GENERAL MEETING

DESPATCH OF CIRCULAR

The circular of the Company containing, among other things, further information regarding details of the Acquisition and the Joint Venture Transaction and the notice convening the General Meeting, will be despatched to the Shareholders on 10 October 2018.

CLOSURE OF THE REGISTER OF MEMBERS FOR DETERMINING THE ENTITLEMENT TO ATTEND AND VOTE AT THE GENERAL MEETING

The register of members of the Company will be closed from Thursday, 25 October 2018 to Tuesday, 30 October 2018 (both days inclusive) for the purpose of determining the entitlement of the Shareholders to attend and vote at the General Meeting.

During such period of closure of the register of members, no transfer of the Shares will be registered.

In order to qualify for the right to attend and vote at the General Meeting, all transfers accompanied by the relevant share certificates must be lodged with the Company's share registrar, Computershare Hong Kong Investor Services Limited, at Shops 1712-1716, 17th Floor, Hopewell Centre, 183 Queen's Road East, Wanchai, Hong Kong not later than 4:30 p.m. on Wednesday, 24 October 2018.

As completion of the Acquisition and/or the Joint Venture Transaction is conditional on the satisfaction or waiver of certain conditions, including the obtaining of the CKA Transaction Shareholders' Approval or the JV Transaction Shareholders' Approvals (as applicable), there remains the possibility that the Acquisition and/or the Joint Venture Transaction may not proceed. Shareholders and potential investors should exercise caution when dealing in the Shares and other securities of the Company.

INTRODUCTION

Reference is made to the announcement jointly issued by CK Asset Holdings Limited, CK Infrastructure Holdings Limited, Power Assets Holdings Limited (the "Company") and CK Hutchison Holdings Limited on 13 August 2018 (the "Joint Announcement").

Unless otherwise defined, capitalised terms used in this announcement shall have the same meanings as those defined in the Joint Announcement.

DESPATCH OF CIRCULAR

The circular of the Company containing, among other things, (i) further information regarding details of the Acquisition and the Joint Venture Transaction, (ii) a letter from the independent board committee of the Company (the "Independent Board Committee") containing its recommendation to the independent shareholders of the Company (the "Independent Shareholders") in relation to the Joint Venture Transaction, (iii) a letter from Platinum Securities Company Limited, the independent financial adviser of the Company, containing its advice and recommendation to the Independent Board Committee and the Independent Shareholders in relation to the Joint Venture Transaction, and (iv) the notice of the general meeting of the Company (the "General Meeting"), will be despatched to the shareholders of the Company (the "Shareholders") on 10 October 2018.

CLOSURE OF THE REGISTER OF MEMBERS FOR DETERMINING THE ENTITLEMENT TO ATTEND AND VOTE AT THE GENERAL MEETING

The General Meeting will be convened to be held at the Grand Ballroom, 1st Floor, Harbour Grand Hong Kong, 23 Oil Street, North Point, Hong Kong on Tuesday, 30 October 2018 (see Note) at 2:15 p.m. for the Independent Shareholders to consider and, if thought fit, pass an ordinary resolution to approve the Joint Venture Transaction. On this basis, the register of members of the Company will be closed from Thursday, 25 October 2018 to Tuesday, 30 October 2018 (see Note) (both days inclusive) for the purpose of determining the entitlement of the Shareholders to attend and vote at the General Meeting.

Note: In the event that a tropical cyclone warning signal no. 8 or above is hoisted or a black rainstorm warning signal is in force in Hong Kong at 9:00 a.m. on Tuesday, 30 October 2018, the General Meeting will be held at the same time and place on Wednesday, 31 October 2018, and the register of members of the Company will be closed until Wednesday, 31 October 2018.

During such period of closure of the register of members, no transfer of the shares of the Company (the "Shares") will be registered. In order to qualify for the right to attend and vote at the General Meeting, all transfers accompanied by the relevant share certificates must be lodged with the Company's share registrar, Computershare Hong Kong Investor Services Limited, at Shops 1712-1716, 17th Floor, Hopewell Centre, 183 Queen's Road East, Wanchai, Hong Kong not later than 4:30 p.m. on Wednesday, 24 October 2018.

As completion of the Acquisition and/or the Joint Venture Transaction is conditional on the satisfaction or waiver of certain conditions, including the obtaining of the CKA Transaction Shareholders' Approval or the JV Transaction Shareholders' Approvals (as applicable), there remains the possibility that the Acquisition and/or the Joint Venture Transaction may not proceed. Shareholders and potential investors should exercise caution when dealing in the Shares and other securities of the Company.

By Order of the Board

Alex Ng Company Secretary

Hong Kong, 9 October 2018

As at the date of this announcement, the directors of the Company are:

Executive directors

• : Mr. FOK Kin Ning, Canning (Chairman), Mr. TSAI Chao Chung, Charles (Chief Executive Officer), Mr. CHAN Loi Shun, Mr. Andrew John HUNTER, Mr. Neil Douglas MCGEE and Mr. WAN Chi Tin

  Non-executive director : Mr. LI Tzar Kuoi, VictorIndependent non-executive directors

• : Mr. IP Yuk-keung, Albert, Mr. Ralph Raymond SHEA, Mr. WONG Chung Hin and Mr. WU Ting Yuk, Anthony