BIPC

This news release constitutes a “designated news release” for the purposes of the prospectus supplement dated November 19, 2025 to the short form base shelf prospectus of Brookfield Infrastructure Corporation and Brookfield Infrastructure Partners L.P. dated January 29, 2025 BROOKFIELD, NEWS, July 30, 2026 (GLOBE NEWSWIRE) -- Brookfield Infrastructure Partners L.P. (Brookfield Infrastructure, BIP, or the Partnership) (NYSE: BIP; TSX: BIP.UN) today announced its results for the second quarter ended June 30, 2026. “Brookfield Infrastructure delivered strong results in the first half of the year, generating 10% FFO per unit growth while making significant progress on our asset sale and deployment initiatives,” said Sam Pollock, Chief Executive Officer of Brookfield Infrastructure. “The strength of our operating performance and self-funding model positions us well to convert a growing pipeline of high-quality investment opportunities into per-unit cash flow growth.” Overview Brookfield Infrastructure generated funds from operations (FFO) per unit of $0.89, representing a 10% increase compared to the prior year and achieving our growth target. Results were supported by strong underlying performance across the portfolio, led by significant contributions from our data and midstream segments, where FFO increased 36% and 17%, respectively, compared to last year. Our utilities and transport segments also generated solid growth, reflecting strong broad-based performance across each business segment. This performance was achieved while continuing to execute our successful asset sale program, which moderated reported growth, particularly in the transport and midstream segments. Brookfield Infrastructure reported net income of $44 million for the three-month period ended June 30, 2026 compared to net income of $69 million in the prior year. Current quarter results benefited from strong operational performance, mark-to-market gains on commodity contracts in our midstream segment and income associated with our asset sale program. This result was partially offset by higher depreciation and borrowing costs associated with our growth initiatives. FFO for the second quarter was $702 million, representing 10% growth compared to the prior year on both a quarterly and year-to-date basis. The increase reflects strong organic growth within our 6-9% target range, supported by inflation-linked rate increases in our utilities segment, volume strength and higher utilization across our transport and midstream segments and the commissioning of over $1.5 billion of new capital projects from our backlog, particularly within our data segment. Results also benefited from the strong cash contribution from new investments, which are generating returns meaningfully above the yield on assets sold through our capital recycling program. Strategic Initiatives We had a successful first half of the year with our asset rotation strategy having secured or deployed over $800 million into new investments. In the past quarter, we have increased our equity commitment to the Bloom Energy framework to support an additional capex project and advanced the acquisition of Clarus, New Zealand’s leading gas infrastructure utility, with closing expected in the coming weeks. Momentum in AI infrastructure is accelerating, with our AI factory strategy gaining traction globally and expanding our pipeline of investment opportunities. In the U.S., Brookfield was selected by the Department of Energy to develop an AI data center campus in Kentucky, designed to support over 1.2 GW of compute capacity over several years. We have formed a consortium with NextEra Energy and local utility partners to advance the project through a bring-your-own-power model. In South Korea, Brookfield, NAVER and NVIDIA announced plans to develop 200 MW of sovereign compute capacity. Under the proposed arrangement, Brookfield would act as NAVER’s exclusive capital partner to finance the deployment of NVIDIA GPUs at the campus, supporting one of South Korea’s largest planned sovereign compute developments. We also expanded our framework with Bloom Energy five-fold, from $5 billion to $25 billion of total capex, creating a significant pipeline of future deployment opportunities for behind-the-meter power solutions for leading hyperscale and investment-grade customers. Together, these initiatives demonstrate the breadth of our AI infrastructure opportunity set and our ability to originate large-scale projects on a bilateral basis by combining our digital infrastructure and power expertise with flexible capital at scale to support leading energy and technology partners globally. As these opportunities progress, we will only commit material capital once appropriate commercial arrangements are secured and our risk-adjusted return objectives are met. Our ability to pursue this growing opportunity set is supported by our successful asset sale program. We have generated nearly $1.2 billion of proceeds year to date, including approximately $200 million since last quarter, reinforcing our ability to self-fund growth while recycling capital at attractive valuations. With several sale processes well underway, we remain confident in achieving our capital recycling objective for 2026. Public markets have been an increasingly effective exit channel to maximize value in our capital recycling program. So far during 2026, we have generated meaningful proceeds from public market transactions, reflecting both the quality of the businesses we have built and the depth of investor demand for scaled, high-quality infrastructure platforms. IPOs and follow-on public market monetizations provide us with an attractive path to crystallize value, broaden the buyer universe and retain flexibility to participate in future upside. They also give us optionality alongside private sale alternatives, supporting value maximization across multiple potential exit paths. The most significant example was the IPO of our U.S. colocation data center operation on the New York Stock Exchange. Since our initial investment in 2018, we have transformed the business into a scaled platform comprising 64 sites across major U.S. markets and serving more than 1,700 customers. A key value driver in this transformation was the acquisition of over 40 sites from Cyxtera through its bankruptcy process, which scaled the platform, optimized the portfolio and accelerated growth. Since then, we have enhanced the company’s financial profile through lease-up of vacant capacity, under-roof densification projects, leased-site buyouts, cost optimization and selective site M&A. These initiatives have increased EBITDA by over 4x under our ownership and expanded capacity from 115 MW to approximately 390 MW. The IPO represents the next step in our value creation plan. The transaction generated gross proceeds of approximately $1.2 billion at an attractive valuation, which were used primarily for a one-time deleveraging of the business’s balance sheet to better align the business’s capital structure with public market expectations. Brookfield retains a 64% ownership interest in the business and will continue to participate in future value creation, including the potential to grow the platform to approximately 1 GW of capacity through further equipment optimization and under-roof expansion. We also advanced monetizations across two listed businesses in India. At our Indian telecom tower platform, we sold a 7% interest through the capital markets. At our Indian gas transmission operation, we completed several additional sell-downs to public market investors following our inaugural issuance last year, exiting a further 14% of the business. Combined, these transactions generated nearly $100 million of proceeds for BIP, with additional sales expected over the coming quarters. Adding to our asset sale progress, we executed a second transaction under our established framework for monetizing de-risked and contracted container portfolios at our global intermodal logistics operation. On July 1, we completed a further programmatic sale of a majority interest in a portfolio of contracted containers, generating approximately $60 million of proceeds at BIP’s share. Including prior sales, we have now sold a 67% interest in a portfolio of containers representing over 25% of the business’s total fleet. Finally, at our North American railcar leasing platform, we generated approximately $100 million of sale proceeds, or $20 million at BIP’s share. These proceeds were primarily generated through our structured investment framework, which provides for the transfer of ownership to our partner, GATX, over time. Segment Performance The following table presents FFO by segment: The utilities segment generated FFO of $196 million, up 5% over the prior year. The increase was driven by inflation indexation, the contribution from over $500 million of capital commissioned into rate base over the last 12 months and the acquisition of our South Korean industrial gas business completed last year. This growth was partially offset by foregone earnings from asset sales, including the largest of four concessions within our Brazilian electricity transmission operation, which closed during the first quarter, and our Mexican regulated natural gas transmission pipeline business, which contributed to results in the comparable period. FFO for the transport segment was $311 million, representing a 7% increase over the prior year after normalizing for capital recycling activity. The increase was primarily driven by broad-based operating performance, with volumes across our rail, port and toll road operations each increasing 3–7% year over year. In addition, results benefited from the contribution from our leading railcar leasing platform formed in partnership with GATX, which closed on January 1. These contributions were partially offset by foregone earnings from the sale of a 49% interest in our Australian export terminal, the sale of our Australian container terminal business, and a partial sale of our U.K. port operation, all of which closed in the prior year. Our midstream segment generated FFO of $183 million, up 17% compared to the same period last year. The increase reflects strong organic growth across the portfolio, particularly at our Canadian diversified midstream business, which benefited from strong asset utilization and elevated commodity pricing. Results also benefited from the contribution of our recently acquired U.S. refined products pipeline system, partially offset by foregone earnings from the sale of our U.S. gas pipeline last year. The data segment generated FFO of $154 million, representing a step-change increase of 36% compared to the prior year. The increase was driven by the contribution from our U.S. bulk fiber network acquired last September, as well as strong organic growth across the segment including income generated by our data center developers and the initial contribution from our partnership with Intel to construct semiconductor foundries in Arizona. Balance Sheet and Liquidity Capital markets remained constructive for high-quality issuers during the second quarter, despite ongoing volatility and uncertainty around the path of interest rates. Against this backdrop, we continued to benefit from the strength of our business and our conservative financing structure. Our asset-level balance sheets remain well insulated, with over 95% of our non-recourse term debt, excluding Brazil, at fixed rates. Recent prefunding activity has also reduced near-term maturities to less than 2% of our non-recourse debt over the next 12 months. We recently executed several opportunistic asset-level financings to extend maturities and improve financial flexibility. Notable transactions include: At our U.S. refined products pipeline system, we upsized the existing Term Loan B to approximately $3.3 billion and extended its maturity to approximately seven years, with no scheduled principal amortization. We successfully issued £425 million of investment-grade notes at our U.K. regulated distribution operation across 7, 10, and 12-year tenors, refinancing near-term maturities at the lowest credit spreads achieved since 2018. At our global intermodal logistics operation, we raised approximately $550 million of investment-grade asset-backed securities to finance a portfolio of fully contracted containers. The issuance was launched with a minimum size of $350 million and was subsequently upsized due to robust demand. Pricing was attractive, with an average coupon of 5.3% for a five-year term. On our corporate balance sheet we have over $2.6 billion of liquidity. This positions us well to execute on our investment pipeline and fund our backlog of organic growth opportunities while maintaining financial discipline. Our maturity profile remains well laddered, with no corporate debt maturities until 2027, and both credit rating agencies recently reaffirmed our BBB+ credit rating during the quarter, reflecting the strength of our balance sheet and overall credit profile. BIP and BIPC Structure We recently announced our intention to simplify Brookfield Infrastructure's corporate structure by combining BIP and BIPC into a single publicly traded corporation. We expect the simplification to be tax-deferred for Canadian and U.S. investors and benefit all securityholders by improving trading liquidity, increasing demand from index funds and ETFs, simplifying investor analysis, broadening access to investors who prefer a traditional corporate structure and enhancing governance. For BIP unitholders, the simplification will eliminate onerous partnership tax reporting forms, while also providing preferential dividend tax rates for many Canadian and U.S. taxable investors. A special meeting for securityholders to vote on the simplification will be held on October 14, 2026, and subject to approvals and closing conditions, the simplification transaction is expected to be completed in the fourth quarter of 2026. Investor Day We look forward to hosting our Investor Day on September 29, 2026 in Toronto where members of Brookfield Infrastructure's senior management team will provide an update on our strategic priorities and growth outlook. Distribution and Dividend Declaration The Board of Directors of BIP declared a quarterly distribution in the amount of $0.455 per unit, payable on September 29, 2026 to unitholders of record as at the close of business on August 31, 2026. This distribution represents a 6% increase compared to the prior year. The regular quarterly dividends on the Cumulative Class A Preferred Limited Partnership Units, Series 9 and Series 11 have been declared, which will also be payable on September 29, 2026 to holders on August 31, 2026. The Series 13 and Series 14 regular quarterly dividends have also been declared and will be payable on September 15, 2026 to holders on August 31, 2026. In conjunction with the Partnership’s distribution declaration, the Board of Directors of BIPC has declared an equivalent quarterly dividend of $0.455 per share, also payable on September 29, 2026 to shareholders of record as at the close of business on August 31, 2026. Conference Call and Quarterly Earnings Details Investors, analysts and other interested parties can access Brookfield Infrastructure’s second quarter 2026 results and supplemental information, under the investor relations section at https://bip.brookfield.com. To participate in the conference call today at 9:00 am ET, please pre-register at 2026Q2ConferenceCall. Upon registering, you will be emailed a dial-in number and unique PIN. The conference call will also be webcast live at 2026Q2Webcast. Additional Information The Board has reviewed and approved this news release, including the summarized unaudited financial information contained herein. About Brookfield Infrastructure Brookfield Infrastructure is a leading global infrastructure company that owns and operates high-quality, long-life assets in the utilities, transport, midstream and data sectors across the Americas, Asia Pacific and Europe. We are 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 Partners L.P. (NYSE: BIP; TSX: BIP.UN), a Bermuda-based limited partnership, or Brookfield Infrastructure Corporation (NYSE, TSX: BIPC), a Canadian corporation. Further information is available at https://bip.brookfield.com. Brookfield Infrastructure is the flagship listed infrastructure company of Brookfield Asset Management, a global alternative asset manager, headquartered in New York with over $1 trillion of assets under management. For more information, go to https://‍www.brookfield.com. Contact Information Cautionary Statement Regarding Forward-looking Statements This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities referred to herein, nor shall there be any offer for sale, or solicitation of an offer to buy, any of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Any offering of any securities referred to herein will be made solely by means of a prospectus and an accompanying prospectus supplement relating to that offering. This news release may contain forward-looking information within the meaning of Canadian provincial securities laws and “forward-looking statements” within the meaning of applicable securities laws. The words “will”, “target”, “future”, “growth”, “expect”, “believe”, “may”, derivatives thereof and other expressions which are predictions of or indicate future events, trends or prospects and which do not relate to historical matters, identify the above mentioned and other forward-looking statements. Forward-looking statements in this news release may include statements regarding expansion of Brookfield Infrastructure’s business, the likelihood and timing of successfully completing the transactions referred to in this news release, statements with respect to our assets tending to appreciate in value over time, the future performance of acquired businesses and growth initiatives, the commissioning of our capital backlog, the pursuit of projects in our pipeline, the level of distribution growth over the next several years and our expectations regarding returns to our unitholders as a result of such growth. Although Brookfield Infrastructure believes that these forward-looking statements and information are based upon reasonable assumptions and expectations, the reader should not place undue reliance on them, or any other forward-looking statements or information in this news release. The future performance and prospects of Brookfield Infrastructure are subject to a number of known and unknown risks and uncertainties. Factors that could cause actual results of Brookfield Infrastructure to differ materially from those contemplated or implied by the statements in this news release include general economic conditions in the jurisdictions in which we operate and elsewhere which may impact the markets for our products and services, the ability to achieve growth within Brookfield Infrastructure’s businesses and in particular completion on time and on budget of various large capital projects, which themselves depend on access to capital and continuing favorable commodity prices, and our ability to achieve the milestones necessary to deliver the targeted returns to our unitholders, the impact of market conditions on our businesses, the fact that success of Brookfield Infrastructure is dependent on market demand for an infrastructure company, which is unknown, the availability of equity and debt financing for Brookfield Infrastructure, the impact of health pandemics on our business and operations, the ability to effectively complete transactions in the competitive infrastructure space (including the ability to complete announced and potential transactions that may be subject to conditions precedent, and the inability to reach final agreement with counterparties to transactions referred to in this press release as being currently pursued, given that there can be no assurance that any such transaction will be agreed to or completed) and to integrate acquisitions into existing operations, the future performance of these acquisitions, changes in technology which have the potential to disrupt the business and industries in which we invest, the market conditions of key commodities, the price, supply or demand for which can have a significant impact upon the financial and operating performance of our business and other risks and factors described in the documents filed by Brookfield Infrastructure with the securities regulators in Canada and the United States including under “Risk Factors” in Brookfield Infrastructure’s most recent Annual Report on Form 20-F and other risks and factors that are described therein. Except as required by law, Brookfield Infrastructure undertakes no obligation to publicly update or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise. References to Brookfield Infrastructure are to the Partnership together with its subsidiaries and operating entities. Brookfield Infrastructure’s results include limited partnership units held by public unitholders, redeemable partnership units, general partnership units, Exchange LP units, BIPC exchangeable LP units and BIPC exchangeable shares and class A.2 exchangeable shares. Any statements contained herein with respect to tax consequences are of a general nature only and are not intended to be, nor should they be construed to be, legal or tax advice to any person, and no representation with respect to tax consequences is made. Unitholders and shareholders are urged to consult their tax advisors with respect to their particular circumstances. References to the Partnership are to Brookfield Infrastructure Partners L.P. Please refer to page 12 for results of Brookfield Infrastructure Corporation. Includes net income attributable to limited partners, the general partner, and non-controlling interests ‒ Redeemable Partnership Units held by Brookfield, Exchange LP units, BIPC exchangeable LP units and BIPC exchangeable shares and class A.2 exchangeable shares. Average number of limited partnership units outstanding on a time weighted average basis for the three and six-month period ended June 30, 2026 of 457.6 million and 458.7 million, respectively (2025: 461.3 million and 461.6 million). We define FFO as net income excluding the impact of certain non-cash items including depreciation and amortization, deferred income taxes, mark-to-market gains (losses) and other income (expenses) that are not related to normal revenue earning activities or that are not normal, recurring cash operating expenses necessary for business operations. FFO is not adjusted for the income (loss) earned by data center developers which is generated through the development, commercialization, and sale of completed sites. The inclusion of this income reflects the operating performance of such investments and includes income (or losses) recognized in the current and prior periods. FFO also includes balances attributable to the Partnership generated by investments in associates and joint ventures accounted for using the equity method and excludes amounts attributable to non-controlling interests based on the economic interests held by non-controlling interests in consolidated subsidiaries. We believe that FFO, when viewed in conjunction with our IFRS results, provides a more complete understanding of factors and trends affecting our underlying operations. FFO is a measure of operating performance that is not calculated in accordance with, and does not have any standardized meaning prescribed by IFRS as issued by the International Accounting Standards Board. FFO is therefore unlikely to be comparable to similar measures presented by other issuers. A reconciliation of net income to FFO is available on page 10 of this release. Readers are encouraged to consider both measures in assessing our company’s results. Average number of partnership units outstanding on a fully diluted time weighted average basis for the three and six-month period ended June 30, 2026 was 791.7 million and 791.8 million, respectively (2025: 791.7 million and 792.0 million). Includes non-controlling interest attributable to BIPC exchangeable shares and class A.2 exchangeable shares, BIPC exchangeable LP units and Exchange LP units. Includes non-controlling interest attributable to BIPC exchangeable shares and class A.2 exchangeable shares, BIPC exchangeable LP units and Exchange LP units. Average number of limited partnership units outstanding on a time weighted average basis for the three and six-month period ended June 30, 2026 was 457.6 million and 458.7 million, respectively (2025: 461.3 million and 461.6 million). FFO contribution from investments in associates and joint ventures correspond to the FFO attributable to the partnership that are generated by its investments in associates and joint ventures accounted for using the equity method. Other (income) expense corresponds to amounts that are not related to the revenue earning activities and are not normal, recurring cash operating expenses necessary for business operations. Other income/expenses excluded from FFO primarily includes gains on acquisitions and dispositions of subsidiaries, associates and joint ventures, gains or losses relating to foreign currency translation reclassified from accumulated comprehensive income to other expense, acquisition costs, gains/losses on remeasurement of borrowings, amortization of deferred financing costs, fair value remeasurement gains/losses, accretion expenses on deferred consideration or asset retirement obligations, impairment losses, and gains or losses on debt extinguishment Amounts attributable to non-controlling interests are calculated based on the economic ownership interests held by non-controlling interests in consolidated subsidiaries. By adjusting FFO attributable to non-controlling interests, our partnership is able to remove the portion of FFO earned at non-wholly owned subsidiaries that are not attributable to our partnership. Average number of limited partnership units outstanding on a time weighted average basis for the three and six-month period ended June 30, 2026 was 457.6 million and 458.7 million, respectively (2025: 461.3 million and 461.6 million). Average number of partnership units outstanding on a fully diluted time weighted average basis for the three and six-month period ended June 30, 2026 was 791.7 million and 791.8 million, respectively (2025: 791.7 million and 792.0 million). Notes: The Statements of Funds from Operations per unit above are prepared on a basis that is consistent with the Partnership’s Supplemental Information and differs from net income per limited partnership unit as presented in Brookfield Infrastructure’s Consolidated Statements of Operating Results on page 8 of this release, which is prepared in accordance with IFRS. Management uses FFO per unit as a key measure to evaluate operating performance. Readers are encouraged to consider both measures in assessing Brookfield Infrastructure’s results. Brookfield Infrastructure Corporation Reports Solid Second Quarter 2026 Results The Board of Directors of Brookfield Infrastructure Corporation (“BIPC” or our “company”) (NYSE, TSX: BIPC) today declared a quarterly dividend in the amount of $0.455 per class A exchangeable subordinate voting share of BIPC (a “Share”), payable on September 29, 2026 to shareholders of record as at the close of business on August 31, 2026. This dividend is identical in amount per Share and has identical record and payment dates to the quarterly distribution announced today by Brookfield Infrastructure Partners L.P. (“BIP” or the “Partnership”) (NYSE: BIP; TSX: BIP.UN) on its units. The Shares of BIPC are structured with the intention of being economically equivalent to the non-voting limited partnership units of BIP. We believe economic equivalence is achieved through identical dividends and distributions on the Shares and BIP’s units and each Share being exchangeable at the option of the holder for one BIP unit at any time. Given the economic equivalence, we expect that the market price of the Shares will be significantly impacted by the market price of BIP’s units and the combined business performance of our company and BIP as a whole. In addition to carefully considering the disclosure made in this news release in its entirety, shareholders are strongly encouraged to carefully review BIP’s supplemental information and its other continuous disclosure filings. BIP’s supplemental information is available at https://bip.brookfield.com. Copies of the Partnership’s continuous disclosure filings are available electronically on EDGAR on the SEC’s website at https://sec.gov or on SEDAR+ at https://sedarplus.ca. Results The net income of BIPC is captured in the Partnership’s financial statements and results. BIPC reported net income of $61 million for the three-month period ended June 30, 2026, compared to a net loss of $309 million in the prior year. The increase is primarily due to the reduced impact of the revaluation on our own Shares that are classified as liabilities under IFRS. Current period results benefited from inflation-indexation across our businesses and capital commissioned into rate base at our U.K. regulated distribution business, which was partly offset by higher financing costs and an increase in dividends paid on our exchangeable shares that are classified as interest expense, resulting from a 6% increase in our quarterly dividend compared to the prior year. Cautionary Statement Regarding Forward-looking Statements This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities referred to herein, nor shall there be any offer for sale, or solicitation of an offer to buy, any of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Any offering of any securities referred to herein will be made solely by means of a prospectus and an accompanying prospectus supplement relating to that offering. This news release may contain forward-looking information within the meaning of Canadian provincial securities laws and “forward-looking statements” within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, Section 21E of the U.S. Securities Exchange Act of 1934, as amended, “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995 and in any applicable Canadian securities regulations. The words “believe”, “expect”, “will” derivatives thereof and other expressions which are predictions of or indicate future events, trends or prospects and which do not relate to historical matters, identify the above mentioned and other forward-looking statements. Forward-looking statements in this news release include statements regarding the impact of the market price of BIP’s units and the combined business performance of our company and BIP as a whole on the market price of the Shares. Although Brookfield Infrastructure believes that these forward-looking statements and information are based upon reasonable assumptions and expectations, the reader should not place undue reliance on them, or any other forward-looking statements or information in this news release. The future performance and prospects of Brookfield Infrastructure are subject to a number of known and unknown risks and uncertainties. Factors that could cause actual results of Brookfield Infrastructure to differ materially from those contemplated or implied by the statements in this news release include general economic conditions in the jurisdictions in which we operate and elsewhere which may impact the markets for our products and services, the ability to achieve growth within Brookfield Infrastructure’s businesses and in particular completion on time and on budget of various large capital projects, which themselves depend on access to capital and continuing favorable commodity prices, and our ability to achieve the milestones necessary to deliver the targeted returns to our unitholders, the impact of market conditions on our businesses, the fact that success of Brookfield Infrastructure is dependent on market demand for an infrastructure company, which is unknown, the availability of equity and debt financing for Brookfield Infrastructure, the impact of health pandemics on our business and operations, the ability to effectively complete transactions in the competitive infrastructure space (including the ability to complete announced and potential transactions that may be subject to conditions precedent, and the inability to reach final agreement with counterparties to transactions being currently pursued, given that there can be no assurance that any such transaction will be agreed to or completed) and to integrate acquisitions into existing operations, the future performance of these acquisitions, changes in technology which have the potential to disrupt the business and industries in which we invest, the market conditions of key commodities, the price, supply or demand for which can have a significant impact upon the financial and operating performance of our business and other risks and factors described in the documents filed by BIPC with the securities regulators in Canada and the United States including “Risk Factors” in BIPC’s most recent Annual Report on Form 20-F and other risks and factors that are described therein. Except as required by law, Brookfield Infrastructure Corporation undertakes no obligation to publicly update or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise. Reflects (losses) gains on shares with an exchange/redemption option that are classified as liabilities under IFRS.

Brookfield Infrastructure Corporation reported first-quarter 2026 results, with sales of US$884 million versus US$929 million a year earlier and a net loss of US$112 million compared with prior-year net income of US$389 million, while also declaring a quarterly dividend of US$0.4550 per share payable on June 30, 2026. Alongside these results, Brookfield Infrastructure Partners L.P. highlighted strong first-quarter performance and announced a 6% increase in its quarterly distribution, underscoring how the broader Brookfield infrastructure platform is balancing new investment opportunities with ongoing capital returns to investors. Next, we will examine how the first-quarter results and higher distribution shape Brookfield Infrastructure’s investment narrative and long-term appeal. Uncover the next big thing with 23 elite penny stocks that balance risk and reward. To own Brookfield Infrastructure, you need to be comfortable with an unprofitable but asset-heavy business that prioritizes steady cash distributions over clean earnings. The recent Q1 2026 result, with weaker sales and a net loss, reinforces that headline profits can be volatile, even as the board holds the dividend at US$0.4550 per share and the broader partnership lifts its distribution. That mix keeps the income story intact in the near term, but it also sharpens existing pressure points: interest costs are not well covered by earnings, the payout is not covered by profits or free cash flow, and the share price has fallen sharply in recent months. At this stage, the earnings miss looks more like a confirmation of known risks than a new, thesis-changing shock. However, one existing risk now looks more immediate than it did before these results. Despite retreating, Brookfield Infrastructure's shares might still be trading 5% above their fair value. Discover the potential downside here. Three Simply Wall St Community fair value views for Brookfield Infrastructure span roughly US$39 to US$57, underscoring how far apart private investors can be. Set against the latest quarterly loss and weak interest coverage, that spread highlights why it can pay to weigh several viewpoints before deciding how much volatility you are willing to accept. Explore 3 other fair value estimates on Brookfield Infrastructure - why the stock might be worth just $39.10! Disagree with existing narratives? Extraordinary investment returns rarely come from following the herd, so go with your instincts. A great starting point for your Brookfield Infrastructure research is our analysis highlighting 1 key reward and 3 important warning signs that could impact your investment decision. Our free Brookfield Infrastructure research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Brookfield Infrastructure's overall financial health at a glance. Opportunities like this don't last. These are today's most promising picks. Check them out now: The future of work is here. Discover the 34 top robotics and automation stocks leading the charge in AI-driven automation and industrial transformation. Capitalize on the AI infrastructure supercycle with our selection of the 38 best 'picks and shovels' of the AI gold rush converting record-breaking demand into massive cash flow. This technology could replace computers: discover 26 stocks that are working to make quantum computing a reality. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include BIPC. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]

This news release constitutes a “designated news release” for the purposes of the prospectus supplement dated November 19, 2025 to the short form base shelf prospectus of Brookfield Infrastructure Corporation and Brookfield Infrastructure Partners L.P. dated January 29, 2025 BROOKFIELD, NEWS, April 29, 2026 (GLOBE NEWSWIRE) -- Brookfield Infrastructure Partners L.P. (Brookfield Infrastructure, BIP, or the Partnership) (NYSE: BIP; TSX: BIP.UN) today announced its results for the first quarter ended March 31, 2026. “Brookfield Infrastructure delivered strong results in the first quarter while continuing to advance a number of strategic initiatives across the business,” said Sam Pollock, Chief Executive Officer of Brookfield Infrastructure. “Our strategic partnerships with high-quality counterparties are increasingly an important driver of growth, expanding our opportunity set and reinforcing our position as a partner of choice for large-scale infrastructure investment.” Overview Brookfield Infrastructure generated funds from operations (FFO) per unit of $0.90, a 10% increase compared to the previous year. This was driven by strong base business results, with FFO from our data and midstream segments in particular increasing 46% and 12%, respectively, compared to Q1 2025. Results in our utilities and transport segments were also notable, reflecting resilient underlying performance, with the current period results reflecting higher levels of capital recycling activity achieved during 2025. During the quarter, we executed on a number of strategic and capital allocation priorities. We secured approximately $400 million of new investment opportunities, including the launch of a new equipment leasing platform with an original equipment manufacturer (OEM) and an additional project under our partnership with Bloom Energy. We have also made meaningful progress towards our 2026 capital recycling goal, with proceeds secured of $1 billion to date. This reinforces our ability to self-fund growth by monetizing mature assets at attractive valuations. Brookfield Infrastructure reported a net loss of $61 million for the three-month period ended March 31, 2026 compared to net income of $125 million in the prior year. Strong growth within our operations was achieved but, on a one-time basis, was offset by unrealized hedge losses in our midstream segment, driven by elevated commodity prices. As these hedges settle, we expect to benefit from higher commodity prices in our earnings as the year progresses. FFO for the first quarter was $709 million, representing a 10% increase compared to the prior year. The increase reflects organic growth at the high end of our target range of 6% to 9%, driven by higher inflation-linked revenues, strong utilization in our midstream segment, and the commissioning of over $1.7 billion of projects from our capital backlog since Q1 2025. The increase also reflects the contribution from $1.4 billion of new investments completed over the last 12 months, offset by the foregone earnings from over $3.6 billion of asset sales completed over the same period. Strategic Initiatives We have had an active start to the year, with business development activity resulting in new strategic capital partnerships and continued progress under established frameworks. These partnerships are bilaterally sourced with high-quality counterparties, providing exclusive access to investment opportunities that require long-duration capital at scale. Increasingly, these frameworks are becoming a more meaningful avenue for growth, reinforcing Brookfield Infrastructure’s position as a partner of choice for the world’s leading companies and expanding our opportunity set to deploy large-scale capital at attractive risk-adjusted returns. During the quarter, we established a new framework with a leading global investment-grade OEM, launching an exclusive leasing platform for large, mission-critical and long-lived industrial equipment. Through this platform, we will provide long-term leasing solutions that are expected to generate predictable cash flows without residual value, interest rate or refinancing risk. We will have the sole discretion to enter leases under the framework, which contemplates up to $1.5 billion of total equity deployment (BIP’s share – approximately $375 million). Our $5 billion strategic partnership with Bloom Energy to install up to 1 GW of behind-the-meter power generation advanced further during the quarter, with the signing of an additional $430 million capex project, bringing total capex committed under the framework to approximately $1.6 billion. BIP’s total equity commitment associated with the framework to date is approximately $60 million. Given the success of the behind-the-meter solution, and strong customer demand for speed-to-market, we may have the ability to expand the platform in the coming months. We also remain on track to close Clarus, New Zealand’s leading gas infrastructure utility, in Q2 2026 for an equity purchase price of approximately $270 million (BIP’s share – approximately $70 million). Following last year’s record asset sales, we made excellent progress on achieving our 2026 target, securing nearly $1 billion of capital recycling proceeds to date. This includes closing the initial tranche of our partnership on a portfolio of stabilized and under-construction data centers in North America and closing the sale of the largest of four concessions within our Brazilian electricity transmission business. We also completed a secondary sale of a 12% interest in our North American gas storage business. Subsequent to quarter end, we signed an agreement to sell our bulk liquid storage business, the largest independent storage provider in Scandinavia. Segment Performance The following table presents FFO by segment: The utilities segment generated FFO of $201 million, up 5% over the prior year. The increase was primarily driven by inflation indexation and the contribution from over $500 million of capital commissioned into rate base, along with the contribution from our recently acquired South Korean industrial gas business. The strong base business performance was partially offset by the loss of earnings from the sale of the largest of four concessions within our Brazilian electricity transmission operation and the sale of our Mexican regulated natural gas transmission pipelines in Q1 2025. FFO for the transport segment was $283 million, compared to $288 million in the same period last year. The decrease was primarily attributable to the sales of our Australian export and container terminal operations, the sale of a 34% interest in our U.K. port operation, and the disposition of a 66% interest in a portfolio of fully contracted containers at our global intermodal logistics business. This was partially offset by the acquisition of our North American railcar leasing platform that closed on January 1. After adjusting for these factors, FFO was ahead of the prior year, reflecting higher volumes and tariffs generally across our rail and toll road businesses, partially offset by lower volumes at our Brazilian rail and port logistics business reflecting weather-related constraints during the quarter. Our midstream segment generated FFO of $190 million, up 12% compared to the same period last year. The increase reflects attractive commodity pricing, strong asset utilization and robust customer activity levels across our portfolio. Results also benefited from the contribution of our recently acquired U.S. refined products pipeline system, partially offset by lost contribution from the sale of our U.S. gas pipeline in Q2 2025. The data segment generated FFO of $149 million, representing a step change increase of 46% compared to the prior year. The increase was driven by the contribution from our U.S. bulk fiber network, which we acquired in Q3 2025, and organic growth across our data storage businesses, which included income generated by our global data center developers and the commissioning of over 200 MW of operating data centers into earnings over the last year. Balance Sheet and Liquidity The first quarter experienced elevated market volatility, driven by geopolitical tensions and continued uncertainty around the direction of central bank policy. Despite this backdrop, our proactive approach to managing debt maturities, together with a disciplined financing strategy, allowed us to remain opportunistic in the capital markets. During the quarter, we refinanced approximately $1.5 billion of non-recourse debt on a net-to-BIP basis, with no incremental borrowing costs for the business. We also completed several financings at the asset level to fund contracted growth initiatives. Some notable transactions include: At our U.S. LNG export terminal, we opportunistically repriced a $2.2 billion term loan to reduce credit spreads by 25 basis points, saving $5 million annually and extending the average term to seven years. At our North American railcar leasing platform, we completed the inaugural issuance of $1 billion of investment grade bonds at attractive credit spreads to partially refinance the acquisition facility. At our U.S. hyperscale data center business, we successfully raised $830 million of investment grade asset-backed securities to fund contracted growth. At our global intermodal logistics operation, we issued $600 million of seven-year bonds in the investment grade market and $175 million of preferred shares to prefund near-term maturities, enhance balance sheet efficiency, and diversify the business’s capital sources. Our balance sheet remains well capitalized, with liquidity at the end of the first quarter totaling $5.3 billion, of which $2.5 billion was at the corporate level. Our maturity profile remains well-laddered, with approximately 5% of our non-recourse debt maturing over the next 12 months and no corporate debt maturities until 2027. During the first quarter, we issued 3 million BIPC shares under the at-the-market equity program, raising approximately $140 million. The proceeds were used to repurchase BIP units on a 1-for-1 basis. Since launching the program, we have raised approximately $180 million through the issuance of approximately 3.8 million shares. BIP and BIPC Structure At the direction of the Board, we have recently begun exploring whether a single combined corporate structure would be the best path forward. The goal is to determine if, on a tax-free basis, we can create a single corporate security that would enhance liquidity, increase index inclusion, and create value for our investors. Distribution and Dividend Declaration The Board of Directors of BIP declared a quarterly distribution in the amount of $0.455 per unit, payable on June 30, 2026 to unitholders of record as at the close of business on May 29, 2026. This distribution represents a 6% increase compared to the prior year. The regular quarterly dividends on the Cumulative Class A Preferred Limited Partnership Units, Series 9 and Series 11 have been declared, which will also be payable on June 30, 2026 to holders on May 29, 2026. The Series 13 and Series 14 regular quarterly dividends have also been declared and will be payable on June 15, 2026 to holders on May 29, 2026. In conjunction with the Partnership’s distribution declaration, the Board of Directors of BIPC has declared an equivalent quarterly dividend of $0.455 per share, also payable on June 30, 2026 to shareholders of record as at the close of business on May 29, 2026. Conference Call and Quarterly Earnings Details Investors, analysts and other interested parties can access Brookfield Infrastructure’s first quarter 2026 results and supplemental information, under the investor relations section at https://bip.brookfield.com. To participate in the conference call today at 9:00am ET, please pre-register at ‍https://register-conf.media-server.com/register/BIeb7b7ecb8ee44aaeb2d2a5d6e821974b. Upon registering, you will be emailed a dial-in number, and unique PIN. The conference call will also be webcast live at https://edge.media-server.com/mmc/p/vvuf582m. Additional Information The Board has reviewed and approved this news release, including the summarized unaudited financial information contained herein. About Brookfield Infrastructure Brookfield Infrastructure is a leading global infrastructure company that owns and operates high-quality, long-life assets in the utilities, transport, midstream and data sectors across the Americas, Asia Pacific and Europe. We are 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 Partners L.P. (NYSE: BIP; TSX: BIP.UN), a Bermuda-based limited partnership, or Brookfield Infrastructure Corporation (NYSE, TSX: BIPC), a Canadian corporation. Further information is available at https://bip.brookfield.com. Brookfield Infrastructure is the flagship listed infrastructure company of Brookfield Asset Management, a global alternative asset manager, headquartered in New York with over $1 trillion of assets under management. For more information, go to ‍https://‍brookfield.com. Contact Information Cautionary Statement Regarding Forward-looking Statements This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities referred to herein, nor shall there be any offer for sale, or solicitation of an offer to buy, any of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Any offering of any securities referred to herein will be made solely by means of a prospectus and an accompanying prospectus supplement relating to that offering. This news release may contain forward-looking information within the meaning of Canadian provincial securities laws and “forward-looking statements” within the meaning of applicable securities laws. The words “will”, “target”, “future”, “growth”, “expect”, “believe”, “may”, derivatives thereof and other expressions which are predictions of or indicate future events, trends or prospects and which do not relate to historical matters, identify the above mentioned and other forward-looking statements. Forward-looking statements in this news release may include statements regarding expansion of Brookfield Infrastructure’s business, the likelihood and timing of successfully completing the transactions referred to in this news release, statements with respect to our assets tending to appreciate in value over time, the future performance of acquired businesses and growth initiatives, the commissioning of our capital backlog, the pursuit of projects in our pipeline, the level of distribution growth over the next several years and our expectations regarding returns to our unitholders as a result of such growth. Although Brookfield Infrastructure believes that these forward-looking statements and information are based upon reasonable assumptions and expectations, the reader should not place undue reliance on them, or any other forward-looking statements or information in this news release. The future performance and prospects of Brookfield Infrastructure are subject to a number of known and unknown risks and uncertainties. Factors that could cause actual results of Brookfield Infrastructure to differ materially from those contemplated or implied by the statements in this news release include general economic conditions in the jurisdictions in which we operate and elsewhere which may impact the markets for our products and services, the ability to achieve growth within Brookfield Infrastructure’s businesses and in particular completion on time and on budget of various large capital projects, which themselves depend on access to capital and continuing favorable commodity prices, and our ability to achieve the milestones necessary to deliver the targeted returns to our unitholders, the impact of market conditions on our businesses, the fact that success of Brookfield Infrastructure is dependent on market demand for an infrastructure company, which is unknown, the availability of equity and debt financing for Brookfield Infrastructure, the impact of health pandemics on our business and operations, the ability to effectively complete transactions in the competitive infrastructure space (including the ability to complete announced and potential transactions that may be subject to conditions precedent, and the inability to reach final agreement with counterparties to transactions referred to in this press release as being currently pursued, given that there can be no assurance that any such transaction will be agreed to or completed) and to integrate acquisitions into existing operations, the future performance of these acquisitions, changes in technology which have the potential to disrupt the business and industries in which we invest, the market conditions of key commodities, the price, supply or demand for which can have a significant impact upon the financial and operating performance of our business and other risks and factors described in the documents filed by Brookfield Infrastructure with the securities regulators in Canada and the United States including under “Risk Factors” in Brookfield Infrastructure’s most recent Annual Report on Form 20-F and other risks and factors that are described therein. Except as required by law, Brookfield Infrastructure undertakes no obligation to publicly update or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise. References to Brookfield Infrastructure are to the Partnership together with its subsidiaries and operating entities. Brookfield Infrastructure’s results include limited partnership units held by public unitholders, redeemable partnership units, general partnership units, Exchange LP units, BIPC exchangeable LP units and BIPC exchangeable shares and class A.2 exchangeable shares. Any statements contained herein with respect to tax consequences are of a general nature only and are not intended to be, nor should they be construed to be, legal or tax advice to any person, and no representation with respect to tax consequences is made. Unitholders and shareholders are urged to consult their tax advisors with respect to their particular circumstances. References to the Partnership are to Brookfield Infrastructure Partners L.P. Notes: The Statements of Funds from Operations per unit above are prepared on a basis that is consistent with the Partnership’s Supplemental Information and differs from net income per limited partnership unit as presented in Brookfield Infrastructure’s Consolidated Statements of Operating Results on page 9 of this release, which is prepared in accordance with IFRS. Management uses FFO per unit as a key measure to evaluate operating performance. Readers are encouraged to consider both measures in assessing Brookfield Infrastructure’s results. Brookfield Infrastructure Corporation Reports Solid First Quarter 2026 Results The Board of Directors of Brookfield Infrastructure Corporation (“BIPC” or our “company”) (NYSE, TSX: BIPC) today declared a quarterly dividend in the amount of $0.455 per class A exchangeable subordinate voting share of BIPC (a “Share”), payable on June 30, 2026 to shareholders of record as at the close of business on May 29, 2026. This dividend is identical in amount per Share and has identical record and payment dates to the quarterly distribution announced today by Brookfield Infrastructure Partners L.P. (“BIP” or the “Partnership”) (NYSE: BIP; TSX: BIP.UN) on its units. The Shares of BIPC are structured with the intention of being economically equivalent to the non-voting limited partnership units of BIP. We believe economic equivalence is achieved through identical dividends and distributions on the Shares and BIP’s units and each Share being exchangeable at the option of the holder for one BIP unit at any time. Given the economic equivalence, we expect that the market price of the Shares will be significantly impacted by the market price of BIP’s units and the combined business performance of our company and BIP as a whole. In addition to carefully considering the disclosure made in this news release in its entirety, shareholders are strongly encouraged to carefully review BIP’s supplemental information and its other continuous disclosure filings. BIP’s supplemental information is available at https://bip.brookfield.com. Copies of the Partnership’s continuous disclosure filings are available electronically on EDGAR on the SEC’s website at https://sec.gov or on SEDAR+ at https://sedarplus.ca. Results The net income of BIPC is captured in the Partnership’s financial statements and results. BIPC reported net income of $36 million for the three-month period ended March 31, 2026, compared to net income of $762 million in the prior year. The decrease is primarily due to the impact of the revaluation on our own Shares that are classified as liabilities under IFRS and foreign exchange on loans with BIP denominated in Canadian dollars, in addition to gains recognized in the prior period from the partial sale of a portfolio of stabilized containers at our global intermodal logistics business. Current period results benefited from inflation-indexation across our businesses and capital commissioned into rate base at our U.K. regulated distribution business, which was largely offset by higher financing costs and an increase in dividends paid on our exchangeable shares that are classified as interest expense, resulting from a 6% increase in our quarterly dividend compared to the prior year. Cautionary Statement Regarding Forward-looking Statements This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities referred to herein, nor shall there be any offer for sale, or solicitation of an offer to buy, any of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Any offering of any securities referred to herein will be made solely by means of a prospectus and an accompanying prospectus supplement relating to that offering. This news release may contain forward-looking information within the meaning of Canadian provincial securities laws and “forward-looking statements” within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, Section 21E of the U.S. Securities Exchange Act of 1934, as amended, “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995 and in any applicable Canadian securities regulations. The words “believe”, “expect”, “will” derivatives thereof and other expressions which are predictions of or indicate future events, trends or prospects and which do not relate to historical matters, identify the above mentioned and other forward-looking statements. Forward-looking statements in this news release include statements regarding the impact of the market price of BIP’s units and the combined business performance of our company and BIP as a whole on the market price of the Shares. Although Brookfield Infrastructure believes that these forward-looking statements and information are based upon reasonable assumptions and expectations, the reader should not place undue reliance on them, or any other forward-looking statements or information in this news release. The future performance and prospects of Brookfield Infrastructure are subject to a number of known and unknown risks and uncertainties. Factors that could cause actual results of Brookfield Infrastructure to differ materially from those contemplated or implied by the statements in this news release include general economic conditions in the jurisdictions in which we operate and elsewhere which may impact the markets for our products and services, the ability to achieve growth within Brookfield Infrastructure’s businesses and in particular completion on time and on budget of various large capital projects, which themselves depend on access to capital and continuing favorable commodity prices, and our ability to achieve the milestones necessary to deliver the targeted returns to our unitholders, the impact of market conditions on our businesses, the fact that success of Brookfield Infrastructure is dependent on market demand for an infrastructure company, which is unknown, the availability of equity and debt financing for Brookfield Infrastructure, the impact of health pandemics on our business and operations, the ability to effectively complete transactions in the competitive infrastructure space (including the ability to complete announced and potential transactions that may be subject to conditions precedent, and the inability to reach final agreement with counterparties to transactions being currently pursued, given that there can be no assurance that any such transaction will be agreed to or completed) and to integrate acquisitions into existing operations, the future performance of these acquisitions, changes in technology which have the potential to disrupt the business and industries in which we invest, the market conditions of key commodities, the price, supply or demand for which can have a significant impact upon the financial and operating performance of our business and other risks and factors described in the documents filed by BIPC with the securities regulators in Canada and the United States including “Risk Factors” in BIPC’s most recent Annual Report on Form 20-F and other risks and factors that are described therein. Except as required by law, Brookfield Infrastructure Corporation undertakes no obligation to publicly update or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise.

This article first appeared on GuruFocus. Release Date: January 29, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Brookfield Infrastructure Corp (NYSE:BIPC) exceeded its capital recycling target of $3 billion and invested approximately $2.2 billion into growth initiatives. The company generated funds from operations (Ffo) of $2.6 billion in 2025, marking a 10% increase compared to 2024. A quarterly distribution increase of 6% to $1.82 per unit was approved, marking the 17th consecutive year of distribution increases of at least 5%. The data segment saw a significant increase in FfoO, with a 50% rise compared to the prior year, driven by new investments and strong organic growth. Brookfield Infrastructure Corp (NYSE:BIPC) maintained a strong liquidity position with $6 billion at the end of 2025, supported by $3.1 billion in asset sale proceeds. The company faces risks associated with overbuilding and technological changes in the AI infrastructure sector. There is uncertainty regarding the impact of the Canada-Alberta MOU on the growth trajectory of midstream investments. The pace of discussions for AI factory partnerships has been slower than expected, potentially delaying progress. The company is exposed to inflation indexation risks, with varying impacts across different geographies. The development cycle for some investments may be excessively long, potentially affecting returns and suitability for certain funds. Warning! GuruFocus has detected 9 Warning Signs with BIPC. Is BIPC fairly valued? Test your thesis with our free DCF calculator. Q: Can you elaborate on how your contract approach aims to mitigate technology risk in data centers, and what risks might be underappreciated by the market? Also, how do returns compare to the 12-15% target range? A: (SAM Pollock, CEO) We develop new data centers with yields between 9-10% and monetize them at cap rates of 5.5-6%, resulting in a development profit of 300-400 basis points. With leverage, this translates to equity returns in the high teens or 20s. (Ude Masaligan, Head of Global Data Center Businesses) Our contracts are long-term, typically 15 years, which helps us avoid technology risks. Any necessary changes in infrastructure due to technology shifts are not at our cost. Q: Can you provide details on the transaction where KKR acquired a stake in a portfolio of data centers from Compass? A: (SAM Pollock, CEO) We can't disclose specific transaction details, but we have entered into joint venture arrangements with institutional investors, including KKR, across North America and Europe. These are mostly passive vehicles where we retain operational control and a significant ownership stake to align with our partners. Q: What types of investments from Brookfield's $10 billion AI infrastructure fund might be suitable for BIP? A: (SAM Pollock, CEO) BIP will fund opportunities with returns of 12% and higher, in sectors like data centers, gas, and utilities, excluding renewable energy. Investments with excessively long development cycles may not be suitable for BIP. Q: How do you view sovereigns versus hyperscalers as counterparties in data centers, and what might the mix look like? A: (SAM Pollock, CEO) We value both for diversity. Hyperscalers offer strong credit, while sovereigns diversify risks and provide a differentiated strategy. However, governments tend to move slower than corporates, affecting time to market. It's too early to predict the exact mix. Q: What can we expect from inflation indexation across your geographies in 2026? A: (David Kraft, CFO) In OECD markets, inflation escalators average 2-3%. In emerging markets like India and Brazil, it's 2-4%, slightly above historical averages but not as high as in 2022. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

This news release constitutes a “designated news release” for the purposes of the prospectus supplement dated November 19, 2025 to the short form base shelf prospectus of Brookfield Infrastructure Corporation and Brookfield Infrastructure Partners L.P. dated January 29, 2025. BROOKFIELD, NEWS, Jan. 29, 2026 (GLOBE NEWSWIRE) -- Brookfield Infrastructure Partners L.P. (Brookfield Infrastructure, BIP, or the Partnership) (NYSE: BIP; TSX: BIP.UN) today announced its results for the year ended December 31, 2025. “In 2025 we exceeded our ambitious $3 billion capital recycling target and funded five new investments, showcasing our self-funding strategy.” said Sam Pollock, Chief Executive Officer of Brookfield Infrastructure. “We expect FFO to inflect higher in 2026 as these investments fully contribute to results and we expand our growth pipeline to include AI infrastructure.” For the year ended December 31, 2025, we reported net income attributable to the partnership of $1.1 billion. Current year results benefited from strong operational performance and realized gains associated with our capital recycling activities, partially offset by mark-to-market changes on our corporate foreign exchange hedging program. BIP generated funds from operations (FFO) of $2.6 billion or $3.32 on a per unit basis in 2025. This was 10% above our normalized FFO and a 6% increase in total compared to 2024. Organic growth for the year was at the high end of our target range driven by elevated levels of inflation in the countries where we operate, stronger volumes across our critical infrastructure networks and the commissioning of over $1.5 billion of new capital projects from our backlog. In addition, we completed over $1.1 billion of new acquisitions during 2025 that partially contributed to earnings, the impact of which was more than offset by earnings foregone from over $3 billion of asset sales completed during the year. Segment Performance The following table summarizes FFO by segment: The utilities segment generated FFO of $786 million, which on a comparable basis was up 7% year over year. The base business continued to perform well during the year, driven by inflation indexation across the portfolio and the contribution of approximately $500 million of capital commissioned into rate base over the last twelve months. Results also partially benefited from our acquisition of a South Korean industrial gas business that closed in December, and together with the strong base business performance, more than offset the loss of earnings from the sale of our Mexican regulated natural gas transmission pipelines. FFO for the transport segment was $1,144 million, in line with the prior year after normalizing for asset sales and foreign exchange. During the year, we completed capital recycling initiatives totaling approximately $1.8 billion of proceeds. The loss of earnings from these sales was partially offset by higher revenues across our transportation networks, particularly in our rail and toll road segments, where volumes and rates grew by an average of 2% and 3% respectively. The midstream segment generated FFO of $668 million, representing a 7% year over year increase. This growth reflects higher volumes and activity levels across our midstream assets, particularly at our Canadian natural gas gathering and processing operation and our recently acquired U.S. refined products pipeline system. This contribution more than offsets the loss of earnings from the sale of our U.S. gas pipeline. Lastly, FFO for the data segment was $502 million, representing a step change increase of over 50% compared to the prior year period. The increase is attributable to several new investments completed over the last twelve months, the most recent being our U.S. bulk fiber network, which is now fully contributing to earnings. In addition, we achieved strong organic growth across our data storage business, which included the commissioning of 220 MW of capacity at our hyperscale data centers, 200 MW of new billings at our U.S. retail colocation data center operation and income generated by our global data center developers. Our platform now has development potential of approximately 3.6 GW, including 1.2 GW of operating capacity, a contracted project backlog of 1.1 GW, and a total land bank of 1.3 GW. Update on Strategic Initiatives Transaction activity accelerated in 2025, with $1.5 billion of new investments. We expect this momentum to carry into 2026 based on a robust pipeline of new investment opportunities that continues to be diversified across sectors and geographies. During the quarter, we completed the inaugural project under the framework agreement with Bloom Energy, installing 55 MW of behind the meter power for a data center site in the U.S. We have since secured additional projects under the framework for several hyperscaler customers, bringing the total to approximately 230 MW of power generation. These additional projects have contract terms of at least 15 years in length. BIP’s total equity investment associated with these projects to date is expected to be approximately $50 million, and fully deployed by mid-2027. Also during the quarter, we closed the acquisition of a South Korean industrial gas business that is the leading supplier of industrial gases to investment grade semiconductor manufacturers in the country. The total equity purchase price is $500 million (BIP’s share – approximately $125 million). On January 1, we closed the acquisition of a leading railcar leasing platform in partnership with GATX, a best-in-class railcar lessor. The business is highly cash-generative, providing stable cash flows that are supported by a diversified, and largely investment-grade, customer base. The total equity consideration is approximately $1.2 billion (BIP’s share – approximately $300 million). Asset sales also accelerated in 2025. We achieved a record $3.1 billion in proceeds raised and we believe that the elevated pace of capital recycling will continue into the year ahead. We have two transactions already secured that crystallize attractive returns, giving us conviction in our ability to realize $3 billion of asset sale proceeds during 2026. First, we agreed to sell the largest of four concessions within our Brazilian electricity transmission operation that spans over 1,200 kilometers. We expect proceeds of approximately $150 million net to BIP, generating an attractive IRR of 45% and an 8.5x multiple of capital, with closing anticipated in Q1 2026. Following this sale, we will have completed divestments of six of the nine concessions, with the remaining concessions expected to be sold this year. Second, we partnered on a portfolio of stabilized and under-construction data centers in North America. Proceeds are expected to be used to support the build out of our powered land bank. An initial tranche of assets is expected to close this quarter, with the remaining under-construction projects expected to close on a programmatic basis upon completion over the next two years under a pre-agreed pricing framework. Distribution and Dividend Increase The Board of Directors has declared a quarterly distribution in the amount of $0.455 per unit, payable on March 31, 2026 to unitholders of record as at the close of business on February 27, 2026. This distribution represents a 6% increase compared to the prior year. The regular quarterly dividends on the Cumulative Class A Preferred Limited Partnership Units, Series 9 and Series 11 have been declared, which will also be payable on March 31, 2026 to holders on February 27, 2026. The Series 13 and Series 14 regular quarterly dividends have also been declared and will be payable on March 16, 2026 to holders on February 27, 2026. In conjunction with the Partnership’s distribution declaration, the Board of Directors of BIPC has declared an equivalent quarterly dividend of $0.455 per share, payable on March 31, 2026 to shareholders of record as at the close of business on February 27, 2026. Conference Call and Quarterly Earnings Details Investors, analysts and other interested parties can access Brookfield Infrastructure’s fourth quarter 2025 results, as well as the annual letter to unitholders and supplemental information, at https://bip.brookfield.com. To participate in the Conference Call today at 9:00am ET, please pre-register at https://register-conf.media-server.com/register/BI235cb3564cba4fc5ac36dda513da717d. Upon registering, you will be emailed a dial-in number and direct passcode. The Conference Call will also be Webcast live at https://edge.media-server.com/mmc/p/26osgyhy/. Additional Information The Board has reviewed and approved this news release, including the summarized unaudited financial information contained herein. About Brookfield Infrastructure Brookfield Infrastructure is a leading global infrastructure company that owns and operates high-quality, long-life assets in the utilities, transport, midstream and data sectors across the Americas, Asia Pacific and Europe. We are 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 Partners L.P. (NYSE: BIP; TSX: BIP.UN), a Bermuda-based limited partnership, or Brookfield Infrastructure Corporation (NYSE, TSX: BIPC), a Canadian corporation. Further information is available at https://bip.brookfield.com. Brookfield Infrastructure is the flagship listed infrastructure company of Brookfield Asset Management, a global alternative asset manager with over $1 trillion of assets under management. For more information, go to https://brookfield.com. Contact Information Cautionary Statement Regarding Forward-looking Statements This news release may contain forward-looking information within the meaning of Canadian provincial securities laws and “forward-looking statements” within the meaning of applicable securities laws. The words “will”, “target”, “future”, “growth”, “expect”, “believe”, “may”, derivatives thereof and other expressions which are predictions of or indicate future events, trends or prospects and which do not relate to historical matters, identify the above mentioned and other forward-looking statements. Forward-looking statements in this news release may include statements regarding expansion of Brookfield Infrastructure’s business, the likelihood and timing of successfully completing the transactions referred to in this news release, statements with respect to our assets tending to appreciate in value over time, the future performance of acquired businesses and growth initiatives, expectations regarding FFO growth, the commissioning of our capital backlog, the pursuit of projects in our pipeline, the level of distribution growth over the next several years and our expectations regarding returns to our unitholders as a result of such growth. Although Brookfield Infrastructure believes that these forward-looking statements and information are based upon reasonable assumptions and expectations, the reader should not place undue reliance on them, or any other forward-looking statements or information in this news release. The future performance and prospects of Brookfield Infrastructure are subject to a number of known and unknown risks and uncertainties. Factors that could cause actual results of Brookfield Infrastructure to differ materially from those contemplated or implied by the statements in this news release include general economic conditions in the jurisdictions in which we operate and elsewhere which may impact the markets for our products and services, the ability to achieve growth within Brookfield Infrastructure’s businesses and in particular completion on time and on budget of various large capital projects, which themselves depend on access to capital and continuing favorable commodity prices, and our ability to achieve the milestones necessary to deliver the targeted returns to our unitholders, the impact of market conditions on our businesses, the fact that success of Brookfield Infrastructure is dependent on market demand for an infrastructure company, which is unknown, the availability of equity and debt financing for Brookfield Infrastructure, the impact of health pandemics on our business and operations, the ability to effectively complete transactions in the competitive infrastructure space (including the ability to complete announced and potential transactions that may be subject to conditions precedent, and the inability to reach final agreement with counterparties to transactions referred to in this press release as being currently pursued, given that there can be no assurance that any such transaction will be agreed to or completed) and to integrate acquisitions into existing operations, the future performance of these acquisitions, changes in technology which have the potential to disrupt the business and industries in which we invest, the market conditions of key commodities, the price, supply or demand for which can have a significant impact upon the financial and operating performance of our business and other risks and factors described in the documents filed by Brookfield Infrastructure with the securities regulators in Canada and the United States including under “Risk Factors” in Brookfield Infrastructure’s most recent Annual Report on Form 20-F and other risks and factors that are described therein. Except as required by law, Brookfield Infrastructure undertakes no obligation to publicly update or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise. References to Brookfield Infrastructure are to the Partnership together with its subsidiaries and operating entities. Brookfield Infrastructure’s results include limited partnership units held by public unitholders, redeemable partnership units, general partnership units, Exchange LP units, BIPC exchangeable LP units and BIPC exchangeable shares and class A.2 exchangeable shares. Any statements contained herein with respect to tax consequences are of a general nature only and are not intended to be, nor should they be construed to be, legal or tax advice to any person, and no representation with respect to tax consequences is made. Unitholders and shareholders are urged to consult their tax advisors with respect to their particular circumstances. References to Brookfield Infrastructure are to the Partnership together with its subsidiaries and operating entities. Brookfield Infrastructure’s results include limited partnership units held by public unitholders, redeemable partnership units, general partnership units, Exchange LP units, BIPC exchangeable LP units and BIPC exchangeable shares and class A.2 exchangeable shares. References to the Partnership are to Brookfield Infrastructure Partners L.P. Notes: The Statements of Funds from Operations per unit above are prepared on a basis that is consistent with the Partnership’s Supplemental Information and differs from net income per limited partnership unit as presented in Brookfield Infrastructure’s Consolidated Statements of Operating Results on page 7 of this release, which is prepared in accordance with IFRS. Management uses funds from operations per unit (FFO per unit) as a key measure to evaluate operating performance. Readers are encouraged to consider both measures in assessing Brookfield Infrastructure’s results. Brookfield Infrastructure Corporation Reports Solid 2025 Year-End Results & Announces Dividend Increase The Board of Directors of Brookfield Infrastructure Corporation (“BIPC” or our “company”) (NYSE, TSX: BIPC) today has declared a quarterly dividend in the amount of $0.455 per class A exchangeable subordinate voting share of BIPC (a “Share”), payable on March 31, 2026 to shareholders of record as at the close of business on February 27, 2026. This dividend represents a 6% increase compared to the prior year. This dividend is identical in amount per Share and has identical record and payment dates to the quarterly distribution announced today by BIP on its units. The Shares of BIPC are structured with the intention of being economically equivalent to the non-voting limited partnership units of Brookfield Infrastructure Partnership L.P. (“BIP” or the “Partnership”) (NYSE: BIP; TSX: BIP.UN). We believe economic equivalence is achieved through identical dividends and distributions on the Shares and BIP’s units and each Share being exchangeable at the option of the holder for one BIP unit at any time. Given the economic equivalence, we expect that the market price of the Shares will be significantly impacted by the market price of BIP’s units and the combined business performance of our company, and BIP as a whole. In addition to carefully considering the disclosure made in this news release in its entirety, shareholders are strongly encouraged to carefully review BIP’s annual letter to unitholders, supplemental information and its other continuous disclosure filings. BIP’s annual letter to unitholders and supplemental information are available at https://bip.brookfield.com. Copies of the Partnership’s continuous disclosure filings are available electronically on EDGAR on the SEC’s website at https://sec.gov or on SEDAR+ at https://sedarplus.com. Results The net income of BIPC is captured in the Partnership’s financial statements and results. BIPC reported net income of $700 million compared to $72 million in the prior year. After removing the impact of the revaluation on our own Shares that are classified as liabilities under IFRS and the impact of foreign exchange on loans with BIP denominated in Canadian dollars, underlying earnings were 60% higher than the prior year. Current period results benefited from gains on capital recycling initiatives at our global intermodal logistics operation, inflation-indexation across our businesses and capital commissioned into rate base at our U.K. regulated distribution business. These benefits were partially offset by higher financing costs on our variable rate non-recourse borrowings in Brazil and an increase in dividends paid on our exchangeable shares that are classified as interest expense, resulting from the 6% increase in our quarterly dividend compared to the prior year. Cautionary Statement Regarding Forward-looking Statements This news release may contain forward-looking information within the meaning of Canadian provincial securities laws and “forward-looking statements” within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, Section 21E of the U.S. Securities Exchange Act of 1934, as amended, “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995 and in any applicable Canadian securities regulations. The words “believe”, “expect”, “will” and derivatives thereof and other expressions which are predictions of or indicate future events, trends or prospects and which do not relate to historical matters, identify the above mentioned and other forward-looking statements. Forward-looking statements in this news release include statements regarding the impact of the market price of BIP’s units and the combined business performance of our company and BIP as a whole on the market price of the Shares. Although Brookfield Infrastructure believes that these forward-looking statements and information are based upon reasonable assumptions and expectations, the reader should not place undue reliance on them, or any other forward-looking statements or information in this news release. The future performance and prospects of Brookfield Infrastructure are subject to a number of known and unknown risks and uncertainties. Factors that could cause actual results of Brookfield Infrastructure to differ materially from those contemplated or implied by the statements in this news release include general economic conditions in the jurisdictions in which we operate and elsewhere which may impact the markets for our products and services, the ability to achieve growth within Brookfield Infrastructure’s businesses and in particular completion on time and on budget of various large capital projects, which themselves depend on access to capital and continuing favorable commodity prices, and our ability to achieve the milestones necessary to deliver the targeted returns to our unitholders, the impact of market conditions on our businesses, the fact that success of Brookfield Infrastructure is dependent on market demand for an infrastructure company, which is unknown, the availability of equity and debt financing for Brookfield Infrastructure, the impact of health pandemics on our business and operations, the ability to effectively complete transactions in the competitive infrastructure space (including the ability to complete announced and potential transactions that may be subject to conditions precedent, and the inability to reach final agreement with counterparties to transactions being currently pursued, given that there can be no assurance that any such transaction will be agreed to or completed) and to integrate acquisitions into existing operations, the future performance of these acquisitions, changes in technology which have the potential to disrupt the business and industries in which we invest, the market conditions of key commodities, the price, supply or demand for which can have a significant impact upon the financial and operating performance of our business and other risks and factors described in the documents filed by BIPC with the securities regulators in Canada and the United States including “Risk Factors” in BIPC’s most recent Annual Report on Form 20-F and other risks and factors that are described therein. Except as required by law, Brookfield Infrastructure Corporation undertakes no obligation to publicly update or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise.

This article first appeared on GuruFocus. Funds from Operations (FFO): $654 million or $0.83 per unit, a 9% increase compared to the previous year. Utilities Segment FFO: $190 million, slightly ahead of the prior year. Transport Segment FFO: $286 million, slightly lower due to asset sales but adjusted results slightly ahead of the prior year. Midstream Segment FFO: $156 million, a 6% increase over the same period last year. Data Segment FFO: $138 million, over 60% increase compared to the prior year. Liquidity: $5.5 billion at the end of the third quarter, including $2.5 billion at the corporate level and over $1.4 billion in cash across operating businesses. Debt Issuance: $700 million corporate issuance of medium-term notes with a weighted average interest rate of approximately 4%. Asset Sales Proceeds: Over $3 billion generated for the year, with a further $3 billion expected over the next 12 to 18 months. Warning! GuruFocus has detected 8 Warning Signs with BIPC. Is BIPC fairly valued? Test your thesis with our free DCF calculator. Release Date: November 07, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Brookfield Infrastructure Corp (NYSE:BIPC) achieved a 9% increase in funds from operations (FFO) compared to the previous year, demonstrating strong financial performance. The company completed significant acquisitions, including a New Zealand natural gas infrastructure operation and a South Korean industrial gas business, enhancing its portfolio. BIPC's data segment saw a substantial 60% increase in FFO, driven by acquisitions and strong organic growth in data storage businesses. The company maintains a strong liquidity position with $5.5 billion available, supporting future growth opportunities. BIPC has a robust pipeline of new investment opportunities, particularly in AI infrastructure, which is expected to drive future growth. Higher borrowing costs partially offset the financial benefits from inflation indexation and capital additions in the utilities segment. The transport segment's headline results were lower due to asset sales, despite strong underlying performance. The midstream segment faced lost income from the sale of a US gas pipeline, impacting overall earnings. The company faces rising competition in the data infrastructure and energy sectors, which could impact future capital deployment opportunities. Dealing with sovereign entities for data center projects can be slow, potentially delaying investment cycles. Q: Can you discuss the rising competition for data infrastructure and energy assets and how it affects your ability to source opportunities? A: Sam Pollock, CEO, explained that while there is increased competition, Brookfield Infrastructure's global franchise and access to significant capital provide a distinct advantage. They focus on areas where capital is scarce and seek long-term partnerships, avoiding cost of capital shootouts. The company remains confident in sourcing the best opportunities and achieving strong returns. Q: What are your views on the timing and success of the LP unit repurchases and the ATM program for BIP shares? A: David Krant, CFO, stated that the objective is to increase liquidity for BIP. The program is still in the filing stage, and success will be measured by its ability to avoid dilution and enhance liquidity. The company does not need the capital due to successful capital recycling, so the program is designed to maintain shareholder value. Q: With the IPO of Rock Point completed, should we expect more exits via public markets for midstream assets or the broader portfolio? A: Sam Pollock, CEO, noted that public markets are always a potential exit strategy. The decision to use IPOs depends on market conditions and the ability to maximize value. The company considers public offerings as one of many tools for monetizing assets and will continue to evaluate opportunities based on execution and value maximization. Q: What is the investment thesis for Center Square after combining Evoke and Cyxtera, and are there more improvement opportunities? A: Sam Pollock, CEO, highlighted that Center Square is well-positioned for growth, with significant under-roof expansion opportunities. The company plans to deploy $300 million to $400 million in capital over the next few years, leveraging its unique market position to serve smaller demand from customers and capitalize on AI infrastructure growth. Q: How do you decide on the size of the stabilized data center portfolios you bring to market, and what was the market interest? A: David Krant, CFO, explained that the size of the data center portfolios is determined by the perimeter of assets that are revenue-generating or will be soon. The recent program targeted a $1.4 billion equity check, which was well-received in the European market. The company plans to replicate this approach in other markets. Q: Can you discuss the differences between sovereign compute opportunities and hyper-scale AI lab opportunities in the U.S.? A: Sam Pollock, CEO, stated that sovereign compute opportunities involve creating bilateral transactions with governments to retain data and AI capabilities domestically. This market is distinct from servicing hyper-scale customers and involves more complex solutions. The company is excited about the progress and expects announcements in the coming quarters. Q: Can you quantify the organic growth rates of your data businesses and how they compare to underwriting assumptions? A: David Krant, CFO, mentioned that the data businesses, particularly in towers and transmission, are performing slightly ahead of underwriting assumptions. The hyper-scale platforms have a significant shadow backlog, with potential for up to 1 gigawatt of new projects globally, indicating dramatic organic growth. Q: Are the AI factory opportunities similar to the partnership with Bloom Energy, or do they vary? A: Sam Pollock, CEO, explained that AI factory opportunities vary, with some resembling the Bloom Energy partnership. The majority of AI activities will involve different arrangements, focusing on building AI factories and facilitating capital needs for data centers and hyper-scale companies. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

BROOKFIELD, News, Nov. 07, 2025 (GLOBE NEWSWIRE) -- Brookfield Infrastructure Partners L.P. (Brookfield Infrastructure, BIP, or the Partnership) (NYSE: BIP; TSX: BIP.UN) today announced its results for the third quarter ended September 30, 2025. “Brookfield Infrastructure delivered another solid quarter, generating strong financial results and achieving our annual growth and asset sale objectives,” said Sam Pollock, Chief Executive Officer of Brookfield Infrastructure. “We enter 2026 from a position of strength, with a substantial runway for growth that is further accelerated by an expanded opportunity set driven by AI infrastructure.” Overview Brookfield Infrastructure generated funds from operations (FFO) per unit of $0.83, a 9% increase compared to the previous year, highlighting the continued strength and stability of our financial performance. These results were delivered despite FFO contributions foregone with a record year to date of asset sales. We generated over $3 billion in sale proceeds across 12 transactions, the majority of which have already closed. Combined, these transactions crystallize a realized IRR of over 20% and a 4x multiple of our capital. Approximately $1 billion of these proceeds were recycled into new acquisitions that closed during the quarter and partially contributed to results. Additionally, we have deployed over $500 million in new investments across four transactions, the majority of which are expected to close in the fourth quarter or early next year. Brookfield Infrastructure reported net income of $440 million for the three-month period ended September 30, 2025, up substantially from last year. Current quarter results benefited from strong operational performance and realized gains associated with our capital recycling activities, partially offset by higher borrowing costs incurred to fund recent growth initiatives. FFO for the third quarter was $654 million, representing a 9% increase compared to the same period in the prior year. The increase was primarily driven by strong organic growth, capturing the inflationary benefits embedded in our portfolio, increased revenues in our midstream segment, and the commissioning of over $1 billion in new capital projects from our backlog over the last 12 months. Our results were also supported by the partial contribution from new acquisitions completed during the quarter, which was more than offset by the foregone income associated with completed asset sales. Strategic Initiatives We have met our deployment objective for the year, securing six new investments totaling over $1.5 billion at our share, including the first project under a newly established $5 billion framework agreement with Bloom Energy Corporation to install up to 1 GW of behind the meter power solutions for data centers and AI factories. This project provides a hyperscale customer with 55 MW of power for an AI data center in the U.S. with completion expected in Q4 2025. BIP invested approximately $140 million in the project which should be completed in the fourth quarter. We also recently secured two utility acquisitions in Asia-Pacific. The first is Clarus, a New Zealand natural gas infrastructure business for an equity purchase price of approximately $270 million (BIP’s share – approximately $70 million). Clarus primarily operates a leading gas transmission, distribution and storage business that represents 85% of the total EBITDA and is fully regulated or long-term contracted with inflation indexation. The remaining 15% is generated by New Zealand’s largest liquified petroleum gas retailer, providing energy across the country including areas not serviced by transmission and distribution infrastructure. This value-based acquisition is highly cash generative resulting in a short payback period of seven years. We expect the transaction to close in Q2 2026, subject to customary regulatory approvals. The second is the acquisition of a South Korean industrial gas business that supplies gaseous nitrogen, clean dry air and other industrial gases to industry-leading and investment-grade semiconductor manufacturers. The business includes a pipeline segment that represents approximately 75% of the consolidated EBITDA and is underpinned by 20-year, minimum take-or-pay offtake agreements, with significant cost pass throughs. The remaining 25% is derived from supplying bulk liquified gases to its pipeline customers, with exclusive feedstock access from Korea’s largest refinery and supported primarily by long-term contracts that have cost pass throughs or inflation indexation. The total equity purchase price is $500 million (BIP’s share – approximately $125 million), and the transaction is expected to close in Q4 2025. We successfully completed two other transactions this year, including the acquisition of Colonial Enterprises, the largest refined products pipeline in the U.S., in July, and Hotwire Communications, a leading U.S. bulk fiber provider, in September. We continue to advance the acquisition of the second-largest railcar leasing platform in North America, in partnership with GATX, which remains on track to close in Q1 2026 or earlier. Capital Recycling The momentum in our asset sale program has continued, having locked in significant value created during our ownership, and showcasing our fully self-funded business model. For the year, we have generated over $3 billion in proceeds and are on track to achieve a further $3 billion over the next 12 to 18 months. The two most significant and recent sales were completed in the public markets. First, we fully exited our remaining 26% interest in our Australian export terminal at a 9% premium to the prior sale price of a 23% interest in June. We generated $350 million of proceeds, crystallizing a 22% IRR and 4x multiple of capital on our investment. In mid-October, Brookfield sold a 28% interest in our North American Gas storage platform in the largest initial public offering completed on the Toronto Stock Exchange since May of 2022, raising C$810 million of proceeds (BIP’s share – approximately $230 million). Since the formation of the platform, through a series of acquisitions, EBITDA has grown by more than 4x, driven by operational improvements and favorable market fundamentals. Through strategic initiatives — including the sale of two non-core assets in 2023, enhanced contracting and putting in place a permanent capital structure — the business has meaningfully enhanced the stability and quality of its earnings. We have now realized a 3.2x multiple on our invested capital, while continuing to have a significant interest in the business. We have been successful in two additional smaller-scale asset sales. During the quarter we sold a 33% stake in our Indian gas transmission operation, retaining a 42% interest in the business. We also entered into an agreement to sell our U.K. intermodal operations that represent approximately half of the European revenues. Total sale proceeds at BIP’s share from these transactions are expected to be approximately $100 million. Segment Performance The following table presents FFO by segment: The utilities segment generated FFO of $190 million, which was slightly ahead of the prior year. Results benefited from inflation indexation in addition to contributions from over $450 million of capital added to the rate base. The strong underlying performance was partially offset by higher borrowing costs associated with an increase in interest rates in Brazil, and the sale of our Mexican regulated natural gas transmission business in Q1 2025. FFO for the transport segment was $286 million, compared to $308 million in the same period last year. The decrease was primarily attributable to the sale of our interest in an Australian export terminal and the sale of a 33% interest in a portfolio of fully contracted containers at our global intermodal logistics business, which collectively had no contribution in the current quarter. After adjusting for these impacts, FFO was slightly ahead of the prior year as the impact of rate increases of 1% across our rail networks and 5% across our toll road portfolio more than offset lower volumes across our Australian rail business. Our midstream segment generated FFO of $156 million, up 6% compared to the same period last year. We experienced strong customer activity levels and asset utilization across our portfolio, particularly at our Canadian diversified midstream operation. Notably, we completed the acquisition of Colonial Enterprises during the quarter and the partial earnings contributions were offset by lost income associated with the sale of our U.S. gas pipeline in Q2 2025. The data segment generated FFO of $138 million, representing a step change increase of 62% compared to the prior year. The increase was driven by a full quarter contribution from the tuck-in acquisition of a tower portfolio in India completed last year and strong organic growth across our data storage businesses. This growth included income earned by our global data center developers, the commissioning of 80 MW of capacity at our hyperscale data centers and 45 MW of new billings initiated at our U.S. retail colocation data center operation. Balance Sheet and Liquidity The capital markets were favorable throughout the third quarter, characterized by robust new issuance activity and tightening credit spreads. During the period, we executed financings to enhance liquidity, support growth initiatives and refinance near-term maturities. This included a corporate issuance of medium-term notes in September across two tranches totaling C$700 million. The issuance had a weighted average interest rate of approximately 4% and was priced at our tightest credit spreads ever. Our balance sheet remains well-capitalized. As a result of our proactive approach to refinancing, less than 1% of our non-recourse debt is maturing over the next 12 months and we maintain a well-laddered maturity profile, with a weighted average maturity of approximately seven years. Total liquidity at the end of the third quarter was $5.5 billion, including $2.5 billion at the corporate level and over $1.4 billion in cash retained at our operating businesses. This strong liquidity position provides us with the confidence to pursue a variety of growth opportunities as they arise. Distribution and Dividend Declaration The Board of Directors of BIP declared a quarterly distribution in the amount of $0.43 per unit, payable on December 31, 2025 to unitholders of record as at the close of business on November 28, 2025. This distribution represents a 6% increase compared to the prior year. The regular quarterly dividends on the Cumulative Class A Preferred Limited Partnership Units, Series 3, Series 9 and Series 11 has been declared, which will also be payable on December 31, 2025 to holders on November 28, 2025. The Series 13 and Series 14 regular quarterly dividends have also been declared and will be payable on December 15, 2025 to holders on November 28, 2025. In conjunction with the Partnership’s distribution declaration, the Board of Directors of BIPC has declared an equivalent quarterly dividend of $0.43 per share, also payable on December 31, 2025 to shareholders of record as at the close of business on November 28, 2025. Unit Repurchases and Establishment of an ATM Program Brookfield Infrastructure Partners L.P. intends to increase repurchases of its outstanding limited partnership units (LP Units) under and in accordance with its normal course issuer bid (NCIB) program, repurchasing LP Units when they represent attractive value for repurchase. Separately, but at the same time, Brookfield Infrastructure Corporation is exploring establishing an at-the-market (ATM) equity program, providing it with the flexibility to issue additional BIPC Shares directly into the market at times when conditions are favorable. Overall, any ATM program is expected to be non-dilutive as it is expected that the combined number of LP Units and BIPC Shares of Brookfield Infrastructure over the course of a program will be unchanged, however, fluctuations may occur from time to time depending on market dynamics. Overall, activity under the NCIB program and any ATM program are intended to further strengthen Brookfield Infrastructure’s financial position while increasing the public float and liquidity of BIPC to capitalize on growing demand for its Shares. There can be no assurance as to whether or when an ATM program would be established, and its establishment is subject to entering into a definitive agreement with dealers or agents for the program and the filing of one or more prospectus supplements in the U.S. and Canada. Conference Call and Quarterly Earnings Details Investors, analysts and other interested parties can access Brookfield Infrastructure’s Third Quarter 2025 Results and Supplemental Information, under the Investor Relations section at https://bip.brookfield.com. To participate in the Conference Call today at 9:00am ET, please pre-register at ‍https://register.vevent.com/register/BIb20dd9950c5240a49040db321197944e. Upon registering, you will be emailed a dial-in number, and unique PIN. The Conference Call will also be Webcast live at https://edge.media-server.com/mmc/p/jwc7rbfh/. Additional Information The Board has reviewed and approved this news release, including the summarized unaudited financial information contained herein. About Brookfield Infrastructure Brookfield Infrastructure is a leading global infrastructure company that owns and operates high-quality, long-life assets in the utilities, transport, midstream and data sectors across the Americas, Asia Pacific and Europe. We are 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 Partners L.P. (NYSE: BIP; TSX: BIP.UN), a Bermuda-based limited partnership, or Brookfield Infrastructure Corporation (NYSE, TSX: BIPC), a Canadian corporation. Further information is available at https://bip.brookfield.com. Brookfield Infrastructure is the flagship listed infrastructure company of Brookfield Asset Management, a global alternative asset manager, headquartered in New York with over $1 trillion of assets under management. For more information, go to https://‍www.brookfield.com. Contact Information Cautionary Statement This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities referred to herein, nor shall there be any offer for sale, or solicitation of an offer to buy, any of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Any offering of any securities referred to herein will be made solely by means of a prospectus and an accompanying prospectus supplement relating to that offering. This news release may contain forward-looking information within the meaning of Canadian provincial securities laws and “forward-looking statements” within the meaning of applicable securities laws. The words “will”, “target”, “future”, “growth”, “expect”, “believe”, “may”, derivatives thereof and other expressions which are predictions of or indicate future events, trends or prospects and which do not relate to historical matters, identify the above mentioned and other forward-looking statements. Forward-looking statements in this news release may include statements regarding expansion of Brookfield Infrastructure’s business, the likelihood and timing of successfully completing the transactions referred to in this news release, statements with respect to our assets tending to appreciate in value over time, the future performance of acquired businesses and growth initiatives, the commissioning of our capital backlog, the pursuit of projects in our pipeline, the level of distribution growth over the next several years and our expectations regarding returns to our unitholders as a result of such growth. Although Brookfield Infrastructure believes that these forward-looking statements and information are based upon reasonable assumptions and expectations, the reader should not place undue reliance on them, or any other forward-looking statements or information in this news release. The future performance and prospects of Brookfield Infrastructure are subject to a number of known and unknown risks and uncertainties. Factors that could cause actual results of Brookfield Infrastructure to differ materially from those contemplated or implied by the statements in this news release include general economic conditions in the jurisdictions in which we operate and elsewhere which may impact the markets for our products and services, the ability to achieve growth within Brookfield Infrastructure’s businesses and in particular completion on time and on budget of various large capital projects, which themselves depend on access to capital and continuing favorable commodity prices, and our ability to achieve the milestones necessary to deliver the targeted returns to our unitholders, the impact of market conditions on our businesses, the fact that success of Brookfield Infrastructure is dependent on market demand for an infrastructure company, which is unknown, the availability of equity and debt financing for Brookfield Infrastructure, the impact of health pandemics on our business and operations, the ability to effectively complete transactions in the competitive infrastructure space (including the ability to complete announced and potential transactions that may be subject to conditions precedent, and the inability to reach final agreement with counterparties to transactions referred to in this press release as being currently pursued, given that there can be no assurance that any such transaction will be agreed to or completed) and to integrate acquisitions into existing operations, the future performance of these acquisitions, changes in technology which have the potential to disrupt the business and industries in which we invest, the market conditions of key commodities, the price, supply or demand for which can have a significant impact upon the financial and operating performance of our business and other risks and factors described in the documents filed by Brookfield Infrastructure with the securities regulators in Canada and the United States including under “Risk Factors” in Brookfield Infrastructure’s most recent Annual Report on Form 20-F and other risks and factors that are described therein. Except as required by law, Brookfield Infrastructure undertakes no obligation to publicly update or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise. References to Brookfield Infrastructure are to the Partnership together with its subsidiaries and operating entities. Brookfield Infrastructure’s results include limited partnership units held by public unitholders, redeemable partnership units, general partnership units, Exchange LP units, BIPC exchangeable LP units and BIPC exchangeable shares and class A.2 exchangeable shares. Any statements contained herein with respect to tax consequences are of a general nature only and are not intended to be, nor should they be construed to be, legal or tax advice to any person, and no representation with respect to tax consequences is made. Unitholders and shareholders are urged to consult their tax advisors with respect to their particular circumstances. References to Brookfield Infrastructure are to the Partnership together with its subsidiaries and operating entities. Brookfield Infrastructure’s results include limited partnership units held by public unitholders, redeemable partnership units, general partnership units, Exchange LP units, BIPC exchangeable LP units and BIPC exchangeable shares and class A.2 exchangeable shares. References to the Partnership are to Brookfield Infrastructure Partners L.P. Notes: The Statements of Funds from Operations per unit above are prepared on a basis that is consistent with the Partnership’s Supplemental Information and differs from net income per limited partnership unit as presented in Brookfield Infrastructure’s Consolidated Statements of Operating Results on page 9 of this release, which is prepared in accordance with IFRS. Management uses FFO per unit as a key measure to evaluate operating performance. Readers are encouraged to consider both measures in assessing Brookfield Infrastructure’s results. Brookfield Infrastructure Corporation Reports Third Quarter 2025 Results The Board of Directors of Brookfield Infrastructure Corporation (“BIPC” or our “company”) (NYSE, TSX: BIPC) today declared a quarterly dividend in the amount of $0.43 per class A exchangeable subordinate voting share of BIPC (a “Share”), payable on December 31, 2025 to shareholders of record as at the close of business on November 28, 2025. This dividend is identical in amount per Share and has identical record and payment dates to the quarterly distribution announced today by Brookfield Infrastructure Partners L.P. (“BIP” or the “Partnership”) on its units. The Shares of BIPC are structured with the intention of being economically equivalent to the non-voting limited partnership units of Brookfield Infrastructure Partnership L.P. (“BIP” or the “Partnership”) (NYSE: BIP; TSX: BIP.UN). We believe economic equivalence is achieved through identical dividends and distributions on the Shares and BIP’s units and each Share being exchangeable at the option of the holder for one BIP unit at any time. Given the economic equivalence, we expect that the market price of the Shares will be significantly impacted by the market price of BIP’s units and the combined business performance of our company and BIP as a whole. In addition to carefully considering the disclosure made in this news release in its entirety, shareholders are strongly encouraged to carefully review BIP’s letter to unitholders, supplemental information and its other continuous disclosure filings. BIP’s letter to unitholders and supplemental information are available at https://bip.brookfield.com. Copies of the Partnership’s continuous disclosure filings are available electronically on EDGAR on the SEC’s website at https://sec.gov or on SEDAR+ at https://sedarplus.ca. Results The net income of BIPC is captured in the Partnership’s financial statements and results. BIPC reported net income of $320 million for the three-month period ended September 30, 2025, compared to net loss of $808 million in the prior year. After removing the impact of the revaluation on our own Shares that are classified as liabilities under IFRS and the impact of foreign exchange on loans with BIP denominated in Canadian dollars, underlying earnings were 50% higher than the prior year. Current period results benefited from gains on capital recycling initiatives at our global intermodal logistics operation, inflation-indexation across our businesses and capital commissioned into rate base at our U.K. regulated distribution business. These benefits were partially offset by higher financing costs on our variable rate non-recourse borrowings in Brazil and an increase in dividends paid on our exchangeable shares that are classified as interest expense, resulting from the 6% increase in our quarterly dividend compared to the prior year. Establishment of an ATM Program and Unit Repurchases Brookfield Infrastructure Corporation is exploring establishing an at-the-market (ATM) equity program, providing it with the flexibility to issue additional BIPC Shares directly into the market at times when conditions are favorable. Separately, but at the same time, Brookfield Infrastructure Partners L.P. intends to increase repurchases of its outstanding limited partnership units (LP Units) under and in accordance with its normal course issuer bid (NCIB) program, repurchasing LP Units when they represent attractive value for repurchase. Overall, any ATM program is expected to be non-dilutive as it is expected that the combined number of LP Units and BIPC Shares of Brookfield Infrastructure over the course of a program will be unchanged, however, fluctuations may occur from time to time depending on market dynamics. Overall, activity under the NCIB program and any ATM program are intended to further strengthen Brookfield Infrastructure’s financial position while increasing the public float and liquidity of BIPC to capitalize on growing demand for its Shares. There can be no assurance as to whether or when an ATM program would be established, and its establishment is subject to entering into a definitive agreement with dealers or agents for the program and the filing of one or more prospectus supplements in the U.S. and Canada. Cautionary Statement This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities referred to herein, nor shall there be any offer for sale, or solicitation of an offer to buy, any of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Any offering of any securities referred to herein will be made solely by means of a prospectus and an accompanying prospectus supplement relating to that offering. This news release may contain forward-looking information within the meaning of Canadian provincial securities laws and “forward-looking statements” within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, Section 21E of the U.S. Securities Exchange Act of 1934, as amended, “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995 and in any applicable Canadian securities regulations. The words “believe”, “expect”, “will” derivatives thereof and other expressions which are predictions of or indicate future events, trends or prospects and which do not relate to historical matters, identify the above mentioned and other forward-looking statements. Forward-looking statements in this news release include statements regarding the impact of the market price of BIP’s units and the combined business performance of our company and BIP as a whole on the market price of the Shares. Although Brookfield Infrastructure believes that these forward-looking statements and information are based upon reasonable assumptions and expectations, the reader should not place undue reliance on them, or any other forward-looking statements or information in this news release. The future performance and prospects of Brookfield Infrastructure are subject to a number of known and unknown risks and uncertainties. Factors that could cause actual results of Brookfield Infrastructure to differ materially from those contemplated or implied by the statements in this news release include general economic conditions in the jurisdictions in which we operate and elsewhere which may impact the markets for our products and services, the ability to achieve growth within Brookfield Infrastructure’s businesses and in particular completion on time and on budget of various large capital projects, which themselves depend on access to capital and continuing favorable commodity prices, and our ability to achieve the milestones necessary to deliver the targeted returns to our unitholders, the impact of market conditions on our businesses, the fact that success of Brookfield Infrastructure is dependent on market demand for an infrastructure company, which is unknown, the availability of equity and debt financing for Brookfield Infrastructure, the impact of health pandemics on our business and operations, the ability to effectively complete transactions in the competitive infrastructure space (including the ability to complete announced and potential transactions that may be subject to conditions precedent, and the inability to reach final agreement with counterparties to transactions being currently pursued, given that there can be no assurance that any such transaction will be agreed to or completed) and to integrate acquisitions into existing operations, the future performance of these acquisitions, changes in technology which have the potential to disrupt the business and industries in which we invest, the market conditions of key commodities, the price, supply or demand for which can have a significant impact upon the financial and operating performance of our business and other risks and factors described in the documents filed by BIPC with the securities regulators in Canada and the United States including “Risk Factors” in BIPC’s most recent Annual Report on Form 20-F and other risks and factors that are described therein. Except as required by law, Brookfield Infrastructure Corporation undertakes no obligation to publicly update or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise.