Brookfield Infrastructure to Issue $700 Million of Medium-Term Notes

All amounts in Canadian dollars unless otherwise stated

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION TO THE UNITED STATES

BROOKFIELD, NEWS, July 25, 2023 (GLOBE NEWSWIRE) -- Brookfield Infrastructure (NYSE: BIP; TSX: BIP.UN) today announced that it has agreed to sell $700 million aggregate principal amount of medium-term notes (the “Notes”), comprised of $500 million aggregate principal amount of Series 13 Notes, due July 27, 2030, which will bear interest at a rate of 5.710% per annum, payable semi-annually and $200 million aggregate principal amount of Series 14 Notes, due July 27, 2053, which will bear interest at a rate of 5.950% per annum, payable semi-annually. A subsidiary of Brookfield Infrastructure, Brookfield Infrastructure Finance ULC will be the recipient of the net proceeds and have primary responsibility for the payment of principal and interest on the Notes. The Notes will be fully and unconditionally guaranteed by Brookfield Infrastructure and certain of its key holding subsidiaries.

The Notes will be issued pursuant to a base shelf prospectus dated January 10, 2023 and a related prospectus supplement and pricing supplements to be dated July 25, 2023. The issue is expected to close on or about July 27, 2023 subject to customary closing conditions. Brookfield Infrastructure intends to use the net proceeds from the sale of the Notes to refinance existing indebtedness.

The Notes are being offered through a syndicate of agents led by Scotiabank, BMO Capital Markets, RBC Capital Markets, CIBC Capital Markets, National Bank and TD Securities.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction, nor shall there be any offer or sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities being offered have not been approved or disapproved by any regulatory authority nor has any such authority passed upon the accuracy or adequacy of the short form base shelf prospectus or the prospectus supplement. The offer and sale of the securities has not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold in the United States or to United States persons absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws.