Mr. Sam Pollock reports

BROOKFIELD INFRASTRUCTURE ANNOUNCES SALE OF NGPL AMIDST STRONG CAPITAL RECYCLING MOMENTUM

Brookfield Infrastructure Partners LP has signed an agreement to sell its remaining 25-per-cent interest in its U.S. gas pipeline to one of the business's existing owners. This sale represents a complete and successful exit of the business, generating total proceeds of over $1.7-billion, crystalizing an attractive 18-per-cent internal rate of return and a three-times multiple of capital on the investment since BIP's recapitalization in 2015.

This transaction, when combined with the financing completed in advance of the sale, will have generated total proceeds of over $900-million in the last 18 months. The net proceeds received from the sale represents a 1.8-times multiple of our current carrying value.

The company initially acquired a 27-per-cent stake in the pipeline through the purchase of Babcock & Brown Infrastructure. In 2015, BIP opportunistically increased its ownership to 50 per cent, partnering with another operator to buy out a consortium of minority owners, successfully recapitalizing the business. During our ownership, BIP executed its business plans to create value primarily through organic growth. This included pipeline expansions into key regions to connect natural gas supply to utility providers and LNG export facilities, as well as upgrades across the existing pipeline network to increase capacity. Brookfield Infrastructure engaged CIBC Capital Markets and RBC Capital Markets as joint financial advisers in the transaction and Vinson & Elkins LLP as legal adviser.

In further asset sale updates, Brookfield Infrastructure has completed the first step in the stabilized data centre monetization strategy, signing an agreement to sell a 30-per-cent interest in a 244-megawatt portfolio of de-risked and operating sites in Europe to a financial sponsor for approximately $460-million in proceeds (approximately $90-million net to BIP). The company is also progressing the sale of an additional 60-per-cent stake in the portfolio, which it hopes to sign in the coming months.

"Securing these two transactions adds to the excellent start we have had to the year. We have now locked in over $700-million in proceeds from asset sales since the beginning of the year, which is expected to increase to nearly $900-million shortly following the sell down of the additional stake in our European data center portfolio," said Sam Pollock, chief executive officer of Brookfield Infrastructure. "This marks meaningful progress towards our asset monetization goal of $5- to $6-billion over the next two years, and we continue to experience strong activity levels and buyer interest in our in-progress capital recycling initiatives, with more to come."

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. It is focused on assets that have contracted and regulated revenues that generate predictable and stable cash flows.

We seek Safe Harbor.