KKR, a leading global investment firm, and Aware Super, a leading Australian super fund, today announced the signing of definitive agreements under which funds managed by KKR will acquire ProTen Pty Limited ("ProTen"), one of the largest agricultural infrastructure businesses in Australia, from Aware Super.

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Established in 2001, ProTen develops, owns, and operates farm infrastructure for Australia's poultry supply chain, and plays an important role in supporting access to affordable, sustainable nutrition for Australian households. Today, the company manages poultry infrastructure including more than 700 poultry sheds across over 60 farms, located in key agricultural regions nationwide.

Aware Super, which manages A$190 billion on behalf of its 1.2 million members, has owned ProTen since 2018 and has overseen significant growth in the business. Aware Super's infrastructure team expanded ProTen's operational footprint across all states, along with a four-fold expansion of its property portfolio. KKR's investment will build on ProTen's position for continued growth and its operational excellence in the poultry supply chain.

Andrew Jennings, Managing Director and Head of Australia & New Zealand (ANZ) Infrastructure, KKR, said, "Our investment in ProTen is a unique opportunity to acquire a high-quality agricultural infrastructure asset, supported by availability-based long-term contracts, that plays an essential role in the food supply chain. KKR has been actively monitoring the agricultural infrastructure space as a high-conviction thematic. We are impressed by the quality of ProTen's assets, its long-term contractual relationships with its customers, and the favorable dynamics within the poultry industry. As demand for sustainable protein and resilient food supply increases in Australia, we believe ProTen is well placed for continued growth. We look forward to leveraging KKR's global network, operational expertise, and deep experience in scaling businesses to support ProTen."

Jiren Zhou, Aware Super Portfolio Manager - Infrastructure, said, "We are proud to have grown ProTen into the leading business it is today, through our active stewardship of the business. Following seven years of significant investment, we are delighted to achieve this result on behalf of our members, to grow their retirements funds and deliver long-term sustainable returns. This is an excellent example of how Aware Super's disciplined and long-term approach has strengthened the fund's high quality, diversified infrastructure portfolio, which currently has more than A$20 billion invested globally."

James Wentworth, CEO of ProTen, said, "ProTen is very grateful for the long-standing relationship it has enjoyed with Aware Super. Over the last seven years they have been unwavering in their commitment to and investment in the business. This support and the hard work of our team has enabled us to service and grow with our customers. We look forward to an exciting new chapter with KKR. Our business, management and focus will remain unchanged – partnering with our customers to feed Australia."

KKR is making this investment from its Asia Pacific Infrastructure Investors II Fund. This marks KKR's latest infrastructure investment in the ANZ region. Past investments include Zenith Energy, a leading independent remote power producer in Australia; Queensland Airports Limited in Australia, which consists of four airports in Queensland, including Gold Coast Airport; Spark Infrastructure, which owns high-quality, regulated electricity networks across Australia; and Ritchies Transport, a leading transportation operator in New Zealand. KKR's Asia Pacific infrastructure platform has grown to approximately US$13 billion in assets under management since it was established in 2019.

The transaction is expected to close later this year, subject to customary regulatory approvals.

About ProTen

ProTen is one of Australia's largest broiler chicken growers, setting the benchmark in broiler farm operations and development. Established in 2001, the business operates over 700 poultry sheds across more than 60 broiler farms spanning New South Wales, Victoria, South Australia, Western Australia, and Queensland. Driven by the mission "We grow the chickens", ProTen is committed to contributing to the health and wellbeing of Australians by delivering affordable, sustainable, high‑quality protein. Find out more at: https://proten.com.au/

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR's insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR's investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE:KKR), please visit KKR's website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group's website at www.globalatlantic.com.

About Aware Super

Aware Super is one of Australia's top-performing and largest industry super funds with a core objective of delivering the strongest risk-adjusted returns for its 1.2 million members. Our Australian and London-based investment teams currently originate and manage A$190 billion AUM on behalf of our members. As one of the top 50 institutional investors globally, we typically take an active management approach across alternative assets, including infrastructure, real estate and private equity, and additionally allocate to liquid markets. Returns for our A$20 billion infrastructure portfolio are driven by a globally-diversified program which captures global trends in demography, sustainability and technology to achieve a broad universe of assets. It has a targeted focus on opportunities in Europe, North America, Australia and Asia with a sector focus on energy transition and digital opportunities. Visit aware.com.au

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Media

For KKR:

Wei Jun Ong

+65 6922 5813

WeiJun.Ong@kkr.com

James Strong

+61 (0)448 881 174

james.strong@sodali.co

For Aware Super:

Brendan Altadonna

+61 409 919 891

baltadonna@gracosway.com.au

Sara Bradford

media@aware.com.au

KKR Acquires ProTen from Aware Super