Inter Pipeline and Brookfield Infrastructure Provide Update on Strategic Transaction and Executive Transition Plan

• Brookfield Infrastructure and Inter Pipeline are pleased to announce that the Special Meeting of Inter Pipeline shareholders to approve the Arrangement will take place on October 28, 2021 at 8:30 a.m. (Mountain Time)
  
  
• Inter Pipeline announces that Christian Bayle, President and Chief Executive Officer and Brent Heagy, Chief Financial Officer, will each be stepping down from their management positions effective at the closing of the Arrangement. At which time, Brookfield Infrastructure executives Brian Baker and Paul Hawksworth will assume the roles of interim Chief Executive Officer and Chief Financial Officer, respectively

BROOKFIELD, NEWS, Sept. 22, 2021 (GLOBE NEWSWIRE) -- Inter Pipeline Ltd. ("Inter Pipeline" or the "Company") (TSX: IPL) announces the filing of its management information circular dated September 22, 2021 (the "Circular") and related meeting and proxy materials in connection with the previously announced transaction (the "Transaction") with Brookfield Infrastructure Partners L.P. (NYSE: BIP; TSX: BIP.UN), together with its institutional partners (collectively, “Brookfield Infrastructure”). The Circular and related materials are expected to be mailed to holders of common shares ("Common Shares") of Inter Pipeline ("Shareholders") in early October 2021.

Special Meeting of Shareholders

On September 3, 2021, Inter Pipeline and Brookfield Infrastructure, entered into an arrangement agreement, which was amended and restated on September 21, 2021 (as amended and restated, the "Arrangement Agreement") providing for a court-approved, statutory plan of arrangement under the Business Corporations Act (Alberta) (the “Arrangement”).

In accordance with the terms of the interim order of the Court of Queen's Bench of Alberta obtained on September 22, 2021, a special meeting (the "Meeting") of Shareholders will be held virtually on October 28, 2021 at 8:30 a.m. (Mountain Time). A copy of the interim order is included in the Circular.

The purpose of the Meeting is for the Shareholders to consider and vote on a resolution approving the Arrangement, as described in detail in the Circular. Only Shareholders of record at the close of business on September 20, 2021 will be entitled to vote at the Meeting. Due to COVID-19 and related recommendations of Canadian public health officials, the Meeting will be conducted via live audio webcast accessible at https://web.lumiagm.com/444827760, using password "IPL2021" (case sensitive).