All amounts in Canadian dollars unless otherwise noted

BROOKFIELD, NEWS, March 02, 2023 (GLOBE NEWSWIRE) — Brookfield Infrastructure Partners LP (“Brookfield Infrastructure”) GDPGDP announced today that it has declared the fixed distribution rate for its Class A Preferred Limited Partnership, Series 9 cumulative shares (“Series 9 Shares”). GDP for the five years beginning April 1, 2023 and ending March 31, 2028.

Series 9 units and Series 10 units

If declared, the fixed quarterly distributions will be paid on the Series 9 units for the five years beginning April 1, 2023 at an annual rate of 6.642% ($0.415125 per unit per quarter).

Holders of Series 9 Shares have the right, at their election, not later than 5:00 p.m. (Toronto time) on March 16, 2023, to reclassify all or a portion of their Series 9 Shares, on a one-for-one basis, into Cumulative Class A Preferred Limited Partnership Units, Series 10 (“Series 10 Units”), effective March 31, 2023.

The quarterly floating rate distributions on the Series 10 Shares will be paid at an annualized rate of 3.00% over the annual yield of three month government bonds of Canada, calculated for each quarter. The actual quarterly distribution rate in respect of the distribution period from 1 April 2023 to 30 June 2023 for the Series 10 Shares is 1.88582% (7.564% on an annualized basis) and the distribution, if declared, for that distribution period is 0.471455 $ per unit, payable June 30, 2023.

Holders of Series 9 Shares need not elect to reclassify all or any part of their Series 9 Shares into Series 10 Shares.

As provided in the Share Terms for the Series 9 Units, (i) if Brookfield Infrastructure determines that less than 1,000,000 Series 9 Units would be outstanding after March 31, 2023, all remaining Series 9 Units will automatically be converted into Units of the Series 10 reclassifies on a one-to-one basis effective March 31, 2023; or (ii) if Brookfield Infrastructure determines that there are less…