Brookfield Infrastructure Partners (BIP) investor relations material

Business overview and strategy

• Operates a globally diversified portfolio of utilities, transport, midstream, and data assets, generating stable cash flows underpinned by contractual and regulatory frameworks.

• Focuses on sustainability, embedding ESG criteria into investment processes and long-term value creation.

• Targets FFO per unit growth of 10%+, annual distribution growth of 5-9%, and a payout ratio of 60-70%.

• Recycles mature assets to fund new investments, aiming for a 12-15%+ IRR on acquisitions.

Asset base and diversification

• Holds $64B in enterprise value and $2.6B in 2025 FFO, with over 57,000 operating employees globally.

• Asset mix includes utilities (8%), transport (25%), midstream (22%), and data (10%) by FFO.

• Major assets: 3,500 km gas pipelines, 36,300 km rail, 308,000 telecom towers, 150+ data centers, and significant LNG export capacity.

• 80%+ of FFO is in USD, with operations spanning Americas (68%), Europe (20%), and Asia Pacific (12%).

Financial performance and stability

• Achieved FFO per unit of $3.32 in 2025, up 10% from 2024, and announced a 6% increase in quarterly distributions for 2026.

• 14% FFO CAGR and 9% distribution CAGR from 2009-2025.

• 85% of FFO is contracted or regulated, with 85% protected from or indexed to inflation.

• Maintains a BBB+ credit rating, 90% fixed-rate debt, and $6B in liquidity at year-end 2025.