Brookfield Infrastructure Renews Its Normal Course Issuer Bids - Seite 2

Under BIPC’s normal course issuer bid, the Board of Directors of BIPC authorized BIPC to repurchase up to 10% of the total public float of Exchangeable Shares, or up to 9,737,380 Exchangeable Shares. At the close of business on November 17, 2022, there were 110,543,696 Exchangeable Shares issued and outstanding and 97,373,800 Exchangeable Shares in the public float. Under BIPC’s normal course issuer bid, it may repurchase up to 32,842 Exchangeable Shares on the TSX during any trading day, which represents 25% of the average daily trading volume of 131,368 Exchangeable Shares on the TSX for the six months ended October 31, 2022, adjusted for BIPC’s three-for-two stock split on June 10, 2022 and calculated in accordance with the rules of the TSX.

Repurchases under each normal course issuer bid are authorized to commence on December 1, 2022 and each normal course issuer bid will terminate on November 30, 2023, or earlier should BIP or BIPC, as applicable, complete its repurchases under its respective normal course issuer bid prior to such date.

Under BIP’s normal course issuer bid that commenced on November 29, 2021 and expired on November 28, 2022, BIP previously sought and received approval from the TSX to repurchase up to 22,889,580 LP Units (on a post-unit split basis), 498,926 Series 1 Preferred Units, 498,926 Series 3 Preferred Units, 1,190,365 Series 7 Preferred Units, 798,659 Series 9 Preferred Units and 993,619 Series 11 Preferred Units. BIP did not repurchase any LP Units or Preferred Units under its previous normal course issuer bid in the past twelve months.

Under BIPC’s normal course issuer bid that commenced on November 29, 2021 and expired on November 28, 2022, BIPC previously sought and received approval from the TSX to repurchase up to 9,687,235 Exchangeable Shares (on a post-stock split basis). BIPC did not repurchase any Exchangeable Shares under its previous normal course issuer bid in the past twelve 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 New York Stock Exchange and/or alternative trading systems. All Units and Exchangeable Shares acquired by BIP and BIPC, 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.