BROOKFIELD INFRASTRUCTURE RENEWS ITS NORMAL COURSE ISSUER BIDS

The Toronto Stock Exchange accepted a notice filed by Brookfield Infrastructure Partners LP of its intention to renew its normal course issuer bid for its outstanding limited partnership units and its cumulative Class A preferred limited partnership units. Brookfield Infrastructure Corp. also today announced that the TSX accepted a notice filed by Brookfield Infrastructure Corp. of its intention to renew its normal course issuer bid for its outstanding Class A exchangeable subordinate voting shares.

Brookfield Infrastructure Partners and Brookfield Infrastructure Corp. believe that the renewed normal course issuer bid will provide the flexibility to use available funds to purchase units or exchangeable shares, as applicable, should they be trading in price ranges that do not fully reflect their value.

Under Brookfield Infrastructure Partners's normal course issuer bid, the board of directors of the general partner of Brookfield Infrastructure Partners authorized Brookfield Infrastructure Partners to repurchase up to 5 per cent of the issued and outstanding LP units, or up to 23,088,572 LP units. At the close of business on Nov. 19, 2024, there were 461,771,450 LP units issued and outstanding. Under Brookfield Infrastructure Partners's normal course issuer bid, it may repurchase up to 126,133 LP units on the TSX during any trading day, which represents 25 per cent of the average daily trading volume of 504,532 LP units on the TSX for the six months ended Oct. 31, 2024, calculated in accordance with the rules of the TSX.

Brookfield Infrastructure Partners currently has four series of preferred units outstanding and that trade on the TSX. Under Brookfield Infrastructure Partners's normal course issuer bid, Brookfield Infrastructure Partners is authorized to repurchase up to 10 per cent of the total public float of each series of preferred units as shown in the attached table.

Under Brookfield Infrastructure Corp.'s normal course issuer bid, the board of directors of Brookfield Infrastructure Corp. authorized Brookfield Infrastructure Corp. to repurchase up to 10 per cent of the total public float of exchangeable shares, or up to 11,889,600 exchangeable shares. At the close of business on Nov. 19, 2024, there were 132,029,368 exchangeable shares issued and outstanding and 118,896,006 exchangeable shares in the public float. Under Brookfield Infrastructure Corp.'s normal course issuer bid, it may repurchase up to 46,896 exchangeable shares on the TSX during any trading day, which represents 25 per cent of the average daily trading volume of 187,586 exchangeable shares on the TSX for the six months ended Oct. 31, 2024, calculated in accordance with the rules of the TSX.

Repurchases under each normal course issuer bid are authorized to commence on Dec. 2, 2024, and each normal course issuer bid will terminate on Dec. 1, 2025, or earlier should Brookfield Infrastructure Partners or Brookfield Infrastructure Corp., as applicable, complete its repurchases under its respective normal course issuer bid prior to such date.

Under Brookfield Infrastructure Partners' current normal course issuer bid that commenced on Dec. 1, 2023, and expires on Nov. 30, 2024, Brookfield Infrastructure Partners previously sought and received approval from the TSX to repurchase up to 23,107,234 LP units, 498,926 Series 1 preferred units, 498,586 Series 3 preferred units, 798,659 Series 9 preferred units and 993,619 Series 11 preferred units. Brookfield Infrastructure Partners has not repurchased any units under its current normal course issuer bid in the past 12 months.

Under Brookfield Infrastructure Corp.'s normal course issuer bid that commenced on Dec. 1, 2023, and expires on Nov. 30, 2024, Brookfield Infrastructure Corp. previously sought and received approval from the TSX to repurchase up to 11,867,195 exchangeable shares. Brookfield Infrastructure Corp. has not repurchased any exchangeable shares under its current normal course issuer bid in the past 12 months.

Repurchases of Series 1, Series 3, Series 9 and Series 11 preferred units will be effected through the facilities of the TSX and/or alternative trading systems. Repurchases of LP units and exchangeable shares will be effected through the facilities of the TSX, the NYSE and/or alternative trading systems. All units and exchangeable shares acquired by Brookfield Infrastructure Partners and Brookfield Infrastructure Corp., respectively, under the applicable normal course issuer bid will be cancelled. Repurchases will be subject to compliance with applicable United States federal securities laws, including Rule 10b-18 under the United States Securities Exchange Act of 1934, as amended, as well as applicable Canadian securities laws.

Brookfield Infrastructure Partners and Brookfield Infrastructure Corp. intend to enter into automatic share purchase plans on or about the week of Dec. 23, 2024, in relation to their respective normal course issuer bids. The automatic share purchase plans will allow for the purchase of units or exchangeable shares, as applicable, subject to certain trading parameters, at times when Brookfield Infrastructure Partners or Brookfield Infrastructure Corp. ordinarily would not be active in the market due to its own internal trading blackout periods, insider trading rules or otherwise. Outside these periods, the units or exchangeable shares will be repurchased in accordance with management's discretion, subject to applicable law.

About Brookfield Infrastructure Partners LP

Brookfield Infrastructure is a leading global infrastructure company that owns and operates high-quality, long-life assets in the utilities, transport, mid-stream and data sectors across the Americas, Asia-Pacific and Europe. Brookfield Infrastructure is focused on assets that have contracted and regulated revenues that generate predictable and stable cash flows. Investors can access its portfolio either through Brookfield Infrastructure, a Bermuda-based limited partnership, or BIPC, a Canadian corporation.

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