Brookfield Infrastructure Partners (BIP) investor relations material

Strategic direction and growth outlook

• Strategy targets 10%+ FFO per unit growth, supported by disciplined capital deployment, strong financial position, and capital recycling, with a plan to achieve 12%+ growth in the next 2-3 years.

• Achieved 10% FFO per unit growth year-to-date in Q2 2026, with a 17-year track record of distribution increases at a 9% CAGR since 2009.

• Corporate simplification is underway, merging entities into a single, more liquid corporation with ~$30B market capitalization.

• Scale and strategic partnerships enable access to larger, higher-return opportunities, with operational capabilities positioning the business as a leading corporate partner.

• Attractive entry point for investors, with a dividend yield above 5% and a simpler corporate structure.

Capital deployment and investment focus

• Annual capital deployment exceeds $2B, diversified across organic investments, strategic partnerships, and new sectors like AI infrastructure, with expected average returns of 15%+.

• Asset sales are expected to exceed $2B in 2026, with notable transactions in telecom towers, data centers, and electricity transmission, achieving IRRs up to 44%.

• Organic growth projects are the largest source of 2026 deployment, with a record-high backlog of ~$6B and early-stage opportunities exceeding $15B.

• All channels—traditional M&A, AI infrastructure, and organic growth—are targeting minimum 15% equity returns, supporting the 10%+ per unit growth outlook.

• Annual growth investment targets range from $2B to $3B, with $500M per year targeted for AI infrastructure and $500M–$1B for organic growth.

Artificial intelligence infrastructure focus

• AI infrastructure is a major growth avenue, with investments in AI factories, compute platforms, and power & transmission, leveraging partnerships with leading technology and energy firms.

• AI infrastructure opportunity set projected to exceed $7T by 2035, with current and planned investments totaling $10B in compute, $50B in AI factories, and $25B in power & transmission.

• Risk mitigation in AI infrastructure includes take-or-pay contracts, investment-grade counterparties, and contract terms aligned with asset life.

• Disciplined underwriting focuses on high barriers to entry, essential services, strong counterparties, and contracted revenues.

• AI infrastructure investments are expected to deliver attractive, risk-adjusted returns and represent a scalable, multi-year growth opportunity.