An anonymous director reports

BROOKFIELD INFRASTRUCTURE CORPORATION REPORTS STRONG 2023 YEAR-END RESULTS & ANNOUNCES DIVIDEND INCREASE

The board of directors of Brookfield Infrastructure Corp. (BIPC) has declared a quarterly dividend in the amount of 40.5 cents per Class A exchangeable subordinate voting share of the company, payable on March 29, 2024, to shareholders of record as at the close of business on Feb. 29, 2024. This dividend represents a 6-per-cent increase compared with the prior year. This dividend is identical in amount per share and has identical record and payment dates to the quarterly distribution announced today by Brookfield Infrastructure Partners LP (BIP) on its units.

The shares of the company are structured with the intention of being economically equivalent to the non-voting limited partnership units of Brookfield Infrastructure Partnership. The company believes economic equivalence is achieved through identical dividends and distributions on the shares and BIP's units, and each share being exchangeable at the option of the holder for one BIP unit at any time. Given the economic equivalence, the company expects that the market price of the shares will be significantly impacted by the market price of BIP's units and the combined business performance of the company and BIP as a whole. In addition to carefully considering the disclosure made in this news release in its entirety, shareholders are strongly encouraged to carefully review BIP's letter to unitholders, supplemental information and its other continuous disclosure filings. BIP's letter to unitholders and supplemental information are available at the Brookfield Infrastructure Partners website. Copies of the partnership's continuous disclosure filings are available electronically on EDGAR on the SEC's website, or on SEDAR+.

Results

The net income of the company is captured in the partnership's financial statements and results.

The company reported net income of $606-million compared with $1,619-million in the prior year. After removing the impact of the revaluation on its shares that are classified as liabilities under IFRS (international financial reporting standards), underlying earnings were modestly above the prior year. Earnings benefited from the acquisition of Triton International, the company's global intermodal logistics operation, inflation indexation across its businesses and capital commissioned into rate base at its United Kingdom-regulated distribution business. These benefits were partially offset by one-time transaction costs associated with the acquisition of its global intermodal logistics operation and higher financing costs at its U.K.-regulated distribution business as a result of incremental borrowings.

We seek Safe Harbor.