Brookfield Infrastructure Partners (BIP) Registration Filing summary

Company overview and business model

• Operates as a Bermuda-based limited partnership focused on global infrastructure assets in utilities, transport, midstream, and data sectors, emphasizing contracted and regulated revenues for stable cash flows.

• The sole material assets are interests in a holding LP, which it manages and controls.

• A reorganization will result in public holders exchanging existing shares for new exchangeable shares in a newly named entity, with the new shares listed on TSX and NYSE.

• The new entity will continue to own and operate regulated gas transmission in Brazil, UK distribution, and global logistics, with plans to expand into similar sectors.

Financial performance and metrics

• As of June 30, 2024, total capitalization was $100.9 billion, with $5.1 billion in corporate borrowings and $44.7 billion in non-recourse borrowings.

• 461,745,019 LP Units and 190,299,956 redeemable partnership units were outstanding as of September 30, 2024.

• The capitalization does not reflect a $1.5 billion increase in non-recourse borrowings from a recent acquisition.

Use of proceeds and capital allocation

• No cash proceeds will be received from the issuance or delivery of LP Units upon exchange, redemption, or acquisition of exchangeable shares.

• All expenses related to exchanges will be paid by the partnership.