Mr. John Hamlin reports

BROOKFIELD INFRASTRUCTURE RENEWS ITS NORMAL COURSE ISSUER BIDS

The Toronto Stock Exchange has accepted a notice filed by Brookfield Infrastructure Partners LP of its intention to renew its normal course issuer bid for its outstanding limited partnership units and its cumulative Class A preferred limited partnership units. Brookfield Infrastructure Corp. (BIPC) (New York Stock Exchange/TSX: BIPC) also received TSX acceptance of a notice filed by BIPC of its intention to renew its normal course issuer bid for its outstanding Class A exchangeable subordinate voting shares.

BIP and BIPC believe that the renewed normal course issuer bid will provide the flexibility to use available funds to purchase units or exchangeable shares, as applicable, should they be trading in price ranges that do not fully reflect their value.

Under BIP's normal course issuer bid, the board of directors of the general partner of BIP authorized BIP to repurchase up to 5 per cent of the issued and outstanding LP units, or up to 23,062,017 LP units. At the close of business on Nov. 19, 2025, there were 461,240,345 LP units issued and outstanding. Under BIP's normal course issuer bid, it may repurchase up to 101,883 LP units on the TSX during any trading day, which represents 25 per cent of the average daily trading volume of 407,532 LP units on the TSX for the six months ended Oct. 31, 2025, calculated in accordance with the rules of the TSX.

BIP currently has three series of preferred units outstanding and that trade on the TSX. Under BIP's normal course issuer bid, BIP is authorized to repurchase up to 10 per cent of the total public float of each series of preferred units as shown in the attached table.

Under BIPC's normal course issuer bid, the board of directors of BIPC authorized BIPC to repurchase up to 10 per cent of the total public float of exchangeable shares, or up to 10,594,212 exchangeable shares. At the close of business on Nov. 19, 2025, there were 119,069,841 exchangeable shares issued and outstanding and 105,942,127 exchangeable shares in the public float. Under BIPC's normal course issuer bid, it may repurchase up to 45,151 exchangeable shares on the TSX during any trading day, which represents 25 per cent of the average daily trading volume of 180,606 exchangeable shares on the TSX for the six months ended Oct. 31, 2025, calculated in accordance with the rules of the TSX.

Repurchases under each normal course issuer bid are authorized to commence on Dec. 2, 2025, and each normal course issuer bid will terminate on Dec. 1, 2026, or earlier should BIP or BIPC, as applicable, complete its repurchases under its respective normal course issuer bid prior to such date.

Under BIP's current normal course issuer bid that commenced on Dec. 2, 2024, and expires on Dec. 1, 2025, BIP previously sought and received approval from the TSX to repurchase up to 23,088,572 LP units, 498,926 Series 1 preferred units, 498,926 Series 3 preferred units, 798,659 Series 9 preferred units and 993,619 Series 11 preferred units. The Series 1 preferred units were redeemed on June 30, 2025. As of Nov. 19, 2025, BIP has repurchased 1,043,911 LP units under its current normal course issuer bid through open market transactions on the TSX and the NYSE at a weighted average price per LP unit of approximately $39.20. BIP has not repurchased any preferred units under its current normal course issuer bid in the past 12 months.

Under BIPC's normal course issuer bid that commenced on Dec. 2, 2024, and expires on Dec. 1, 2025, BIPC previously sought and received approval from the TSX to repurchase up to 11,889,600 exchangeable shares. BIPC has not repurchased any exchangeable shares under its current normal course issuer bid in the past 12 months.

Repurchases of Series 3, Series 9 and Series 11 preferred units will be effected through the facilities of the TSX and/or alternative trading systems. Repurchases of LP units and exchangeable shares will be effected through the facilities of the TSX, the NYSE and/or alternative trading systems. All units and exchangeable shares acquired by BIP and BIPC, respectively, under the applicable normal course issuer bid will be cancelled. Repurchases will be subject to compliance with applicable United States federal securities laws, including Rule 10b-18 under the United States Securities Exchange Act of 1934, as amended, as well as applicable Canadian securities laws.

BIP and BIPC intend to enter into automatic share purchase plans on or about the week of Dec. 22, 2025, in relation to their respective normal course issuer bids. The automatic share purchase plans will allow for the purchase of units or exchangeable shares, as applicable, subject to certain trading parameters, at times when BIP or BIPC ordinarily would not be active in the market due to its own internal trading blackout periods, insider trading rules or otherwise. Outside these periods, the units or exchangeable shares will be repurchased in accordance with management's discretion, subject to applicable law.

About Brookfield Infrastructure Partners LP

Brookfield Infrastructure is a leading global infrastructure company that owns and operates high-quality, long-life assets in the utilities, transport, mid-stream and data sectors across the Americas, Asia Pacific and Europe. It is focused on assets that have contracted and regulated revenues that generate predictable and stable cash flows. Investors can access its portfolio either through Brookfield Infrastructure Partners LP (NYSE: BIP; TSX: BIP.UN), a Bermuda-based limited partnership, or Brookfield Infrastructure Corp. (NYSE, TSX: BIPC), a Canadian corporation.

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