22/05/2025 - Brookfield Corporation: Q1 Corporate Profile

Corporate Profile

BROOKFIELD INFRASTRUCTURE

N YS E : B I P, B I P C

T S X : B I P. U N , B I P C

MAY 2025

Global Diversification

Pure-play, publicly traded global owner and operator of utilities, transport, midstream and data assets

High-Quality Assets

Essential infrastructure that generates stable cash flows, underpinned by contractual and regulatory frameworks

Sector Growth

Significant capital deployment opportunities from digitalization, decarbonization and deglobalization trends

Sustainability Focus

Sustainability criteria is embedded into the investment process and is a core driver of long-term value

Experienced Management Team

Proven track record delivering long-term results through active ownership approach

Stable & Growing Distributions

16-year history of distribution increases, with an annual growth target of 5-9%

Objective is to own and operate a globally diversified portfolio of high-quality infrastructure assets that will generate sustainable and growing distributions over the long term

Acquire Enhance Recycle

10%+

FFO per unit

growth target

5-9%

high-quality

assets on a value basis

through

operations-oriented management

Target IRR: 12-15%+

mature assets to

fund new investments

Annual distribution growth target

60-70%

Payout ratio

target

Americas1

67%

Europe1

18%

Asia Pacific1

15%

80%+

FFO in USD1,2

12

Corporate offices

+300

Corporate & investment professionals

~61,000

Operating employees

1. Based on pre-corporate FFO for the last twelve months ended March 31, 2025, pro forma a full year contribution from recently closed transactions

2. Includes U.S. denominated FFO and foreign currency denominated FFO that is hedged to the USD

Utilities Transport Midstream Data

8%

17%

25%

41%

13%

22%

6%

21%

9%

4%

13%

FFO1

LTM Q1 2025

Regulated Transmission

Rail

Toll Roads

Energy Transportation,

Data Transmission

Commercial & Residential Distribution

Diversified Terminals

Storage & Processing

& Distribution

Data Storage

Utilities

• 3,500 km of natural gas pipelines and 3,140 km of electricity transmission lines

• A global residential decarbonization infrastructure platform servicing 10.4

  million customers, as well as 8.5 million electricity and natural gas connections

  Transport

• 36,300 km of rail, 3,300 km of toll roads, 7 million twenty-foot equivalent unit intermodal containers, 10 terminals and 2 export facilities

  Midstream

• 25,600 km of gathering, transmission and transportation pipelines, as well as 570 bcf of natural gas storage and 5.6 bcf/d of processing capacity

  
  
  

  Data

• 306,000 telecom towers, 2 semiconductor manufacturing foundries, 28,000 km of fiber optic cable and 360,000 fiber-to-the-premise connections

• Over 140 data centers, with approximately 1.6 of GW of contracted capacity

$57B

Enterprise value

$3.4B

Recourse debt2

$2.4B

LTM Q1 2025 FFO3

1. As of March 31, 2025

2. Recourse borrowings exclude draws of $160 million on our corporate credit facility, $1,176 million of commercial paper and deferred financing fees of $30 million

Generated Q1 2025 FFO per unit of $0.82, a 12% increase compared to Q1 2024 when normalized for the impact of foreign exchange

Secured $1.4 billion of proceeds from capital recycling initiatives, marking meaningful progress towards our goal of generating $5 to 6 billion over the next two years

Agreed to sell our Australian container terminal operation for proceeds of approximately

$500 million at our share, representing an IRR of 17% and nearly a 4x multiple of capital

Closed the sale of the final 25% interest in a U.S. gas pipeline for net proceeds of $400 million at our share, crystallizing an 18% IRR and 3x multiple of capital since 2015

Announced the acquisition of Colonial Enterprises, a critical U.S. refined products pipeline system that spans approximately 5,500 miles between Texas and New York

Track record of delivering long-term value to

unitholders

Cash flow frameworks provide strong

downside protection, with growth potential

Solid financial position and well-capitalized

balance sheet

14%

FFO CAGR

2009-2024

85%

FFO is protected from,

or indexed to, inflation

BBB+

Investment-grade credit ratings from S&P & Fitch

9%

Distribution CAGR

2009-2025F

85%

FFO contracted or

regulated

90%

Fixed-rate debt1, with an average maturity of eight years

1. Excludes (i) most revolving and capital expenditure facilities and (ii) BRL denominated financing given limited availability of fixed rate debt

14%

FFO per unit

CAGR

10%+

FFO per unit growth target1

$3.12

$1.62

$1.72

2009 2011 2013 2015 2017 2019 2021 2023 2024 2025F2

9%

Distributions per unit CAGR

1. FFO per unit growth target is our long-term annual target

2. 2025F distributions are based on the current distribution of $0.43 annualized

85%

Contracted or Regulated

FFO1

LTM Q1 2025

9 Year

Weighted Average Duration

Segmented FFO Contracted/Regulated

Utilities 90%

Transport 80%

Midstream 75%

Data 95%

Contracted FFO2 Years

Utilities 8

Transport 8

Midstream 12

Data 11

15%

85%

10%

35%

55%

LTM Q1 2025

5%

20%

75%

Midstream Data

5%

95%

15%

10%

75%

No Volume or Price Exposure

Rate Regulated with GDP Exposure

Market Sensitive

5%

95%

10%

25%

65%

LTM Q1 2025

~85%

Inflation Indexed or Protected

5%

95%

25%

45%

30%

Inflation Protected

(Margin neutral)

~15%

Inflation Exposed2

(Margin variability)

~15%

Inflation Indexation

(Margin expansion)

~70%

Midstream Data

• Self-funded business model through capital recycling, retained cash flow and robust liquidity

  • Secured approximately $1.4 billion in capital recycling

    proceeds to date during 2025

  • Maintain strong capital markets access to fund accretive growth initiatives

• Proactively seek long-term fixed-rate debt that is non-recourse to BIP

• Investment-grade credit ratings of BBB+ from S&P and Fitch

Recourse Debt1,2

Outstanding ~$3.4 billion

Average Rate 5.1%

Average Term 16 Years

$0.3B $0.5B $0.5B

$2.1B

$2.0B

Corporate liquidity2

90%

Non-recourse debt2

90%

Fixed-rate debt2,3

2025 2026 2027 2028 2029 Beyond

1. Recourse borrowings excludes draws of $160 million on our corporate credit facility, $1,176 million of commercial paper and deferred financing fees of $30 million; maturity profile may not tie to the total outstanding due to rounding

2. As of March 31, 2025

Value creation at Brookfield Infrastructure is derived from both organic growth and capital deployment

3-4%

Inflation Indexation

1-2%

GDP

Growth

2-3%

Reinvested Cash Flow

6-9%

Organic Growth Target

As of March 31 ($ Million)	2025	2024
Utilities	$1,075	$1,015
Transport	$650	$1,120
Midstream	$370	$340
Data	$5,850	$5,160
Total	$7,945	$7,635

• Partnered with Intel to construct a $30 billion

  semiconductor manufacturing facility in Arizona

• Investment characteristics draw parallels to hyperscale data centers

  • Generally contracted on a long-term basis, with highly creditworthy counterparties, where we do not assume technological risk

• Project has been significantly de-risked

  • Pace of project funding is advancing well, with approximately 40% funded to date

  • Refinanced drawn balances on construction facility, and completed all required refinancings at rates below expectations

    
    
    

    Investment Details

    Segment Data

    Project cost (at BIP's share) ~$3.9 billion

    Equity investment ~$500 million

    Transaction close Q4 2022

• Over 140 operating data centers that have

  approximately 1 GW of critical load capacity

  • 75% in the Americas, 20% in Europe and 5% in Asia Pacific

• Platform development potential to over 3.5 GW

  • Includes operating and contracted capacity of over

    1.6 GW, which is 75% underpinned by hyperscale customers

  • Approximately 1.9 GW of upside development potential through commercializing and developing existing asset footprint

Investment Details

Segment Data

Project backlog (BIP's share) $1.5 billion

Invested capital $1.6 billion

1. As of March 31, 2025, unless otherwise noted

   • Recapitalize

   • Investment-grade

   • Increase efficiency

   • Manage costs

   • Enhance margins

   • De-risk cash flow

     12-15%+

     15%+

     metrics

     • Inflation indexation

     • GDP growth

     • FFO reinvestment

     • Create platform value

     • Exit to lower cost of capital buyer

Cash Yield

Organic Growth

Capital Structure

Operational Improvement

Target IRR

Opportunistic Exit

Digitalization

Investment opportunities derived from exponential increases in data consumption

Decarbonization

Utility or residential energy infrastructure investments to reduce or eliminate emissions

Deglobalization

Supports the reshoring of essential and strategic manufacturing processes and supply chains

Transaction Segment Region Description

Transaction Close

BIP

Equity

Colonial Midstream U.S. U.S. Refined Products Pipeline H2 2025 $500M

Cyxtera Data U.S. U.S. Retail Colocation Data Centers Q1 2024 N/A1

VLI Transport Brazil Integrated Rail & Port Logistics Q2 2024 $350M

ATC India Data India Indian Telecom Towers Q3 2024 $150M

1. Transaction was fully funded with debt

   2025

   2024

   • Largest refined products system in the U.S., with

     2.5 million bbd of capacity, spanning 5,500 miles

   • Serving approximately 50% of U.S. East Coast demand as the lowest cost supplier

   • Multi-decade track record of strong performance

     and approximately 90% utilization

   • Diversified customer base across 200 well capitalized shippers

   • Inflation-indexed tolls that have grown at or above

     inflation

   • Value based entry results in strong going in yields and expected payback of approximately 7 years

Investment Details

Segment Midstream

Equity investment1 $500 million

Transaction close H2 2025

1. Transaction enterprise value of $9.0 billion

Sold 34 businesses for over $9 billion, with an average IRR of approximately 24%

Transaction Proceeds Number of Sales1

25%

20%

+$9B

55%

30%

20%

34

50%

Transaction IRR

<15%

15-30%

30%+

1. NGPL's three partial interest sales have been combined into one

Brookfield Infrastructure's Sustainability Report is available on our website

Mitigate the impact of our operations on the environment

Uphold strong governance practices

Ensure the wellbeing and safety of employees

Be good corporate citizens

North American Gas Storage

Completed a pilot project to demonstrate the feasibility of blending hydrogen with natural gas in its fuel gas system

The project successfully proved technical viability for hydrogen blending commercialization

Member of the SAHTF1 which was established to provide a framework for implementing a hydrogen economy in Alberta

Australian Rail

Presented an autonomous rail container wagon solution to the Western Australian Government's new port development

Autonomous rail container wagons will help maximize the efficiency and utilization of rail for freight, while achieving reduced emissions

When in operation, the wagon emits zero emissions and can be charged with 100% renewable energy, while also reducing the number of trucks on the road

North American Residential

Infrastructure Platform

Facilitating the decarbonization of Canadian homes through heat pump and tankless water heating offerings

Tankless water heaters save both water and energy as they heat water instantly without the use of a storage tank and can be up to 34% more energy efficient than conventional water heaters

A hybrid heat pump system, consisting of a natural gas furnace and an electric heat pump, can reduce emissions by 30% compared

Hyperscale Data Center Platforms

Our North American and European hyperscale platforms have robust sustainability practices in place to manage emissions output and resource consumption

In North America emissions are being addressed by using biofuels to fuel on-site generators and reduce associated greenhouse gas emissions by 85%

In Europe we utilized concrete developed through more efficient methods, estimated to lower embodied emissions by 40%

U.K. Regulated Distribution

Earned the "Great Place to Work" accreditation for the past five years, and was ranked as the 15th Best U.K. Super Large Workplace and the 7th Best Workplace for Women

Part of the Great Place to Work assessment focuses on Equality, Diversity, and Inclusion, and the company targets 50% female applicants for all advertised roles

The company has 28% females in its workforce and 13% minorities compared to the U.K. utilities sector average of 12% and 5%, respectively

North American Data Center

Supports the advancement and inclusion of women in the construction and design industries

Produces a podcast series called "Extending the Ladder" aimed at empowering women in science, technology, engineering and mathematics

Female representation in 80% of its construction manager roles and 50% on its core design and engineering team

Global Intermodal Logistics

Supports the communities it operates in by sponsoring employee volunteering programs

In 2023, more than 40% of their employees participated in the program, contributing approximately 400 hours across 11 offices globally

Participated in coastal cleanups to improve ocean health, including the removal of approximately 500 pounds of waste from beaches and local waterways

Western Canadian Natural Gas G&P

Fosters sustainable and mutually beneficial relationships with Indigenous communities on whose traditional territories they operate

Executed relationship agreements with

two Treaty Eight First Nations to date

Indigenous Programs include:

• Indigenous contracting initiatives

• Relationship & project agreements

• Equity offerings

• Tangible community support

• open, honest and continual communications

  27

•

Brookfield Corporation & Brookfield Asset Mgmt.

Management Fees & IDR's

Investment

~26%

Brookfield Infrastructure (BIP/BIPC)

Returns & Distributions

Investment 20-40%

Flagship Infrastructure Private Funds

Investment

Typically controlling interest

Infrastructure Assets

Brookfield Infrastructure is the listed infrastructure company of Brookfield Corporation (BN)

•

Private funds invest directly into infrastructure

assets and businesses as an owner/operator

BIPC is a subsidiary of BIP and offers an economically equivalent security in the form of a traditional corporate structure

Brookfield Infrastructure

Corporation

Brookfield Infrastructure

Partners

NYSE: BIPC TSX: BIPC	Stock Ticker	NYSE: BIP TSX: BIP.UN
$0.43 per quarter	Dividends/Distributions	$0.43 per quarter
1:1 into BIP Units	Exchangeability	N/A
Canadian Corporation	Structure	Bermuda Limited Partnership

U.S.: 1099 Form

Canada: T5 Form

Tax Reporting U.S.: K-1 Form Canada: T5013 Form

Resiliency Growth Tailwinds

Demonstrated performance through cycles

Highly contracted or regulated cash flows

Strong financial position and balance sheet

Margin expansion during inflationary periods

Record capital backlog provides

highly visible growth

Attractive sector trends driving

outsized capital deployment

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Brookfield Infrastructure Partners LP published this content on May 22, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 22, 2025 at 01:01 UTC.