Market and Economic Risks - The company faces risks related to demand for commodities, including natural gas and minerals, which could impact financial performance[41]. - The group operates in jurisdictions with varying levels of political risk, including potential nationalization and new taxes, which could materially impact financial performance[83]. - Economic and political conditions significantly impact the demand for services provided by the partnership's operating subsidiaries, affecting growth and profitability[193]. - Adverse economic conditions could lead to reduced demand for services, impacting revenues, profits, and cash flow[195]. - The ongoing geopolitical conflicts, such as the war between Russia and Ukraine, have significantly impacted global economic conditions and financial markets, contributing to volatility in fuel prices and supply chain challenges[196]. - Rising inflationary pressures are leading to tightening monetary policies by major central banks, which may pose risks to economic growth and increase interest rates, potentially resulting in recessionary pressures[197]. - Changes in U.S. laws and policies, including potential tariffs of 25% on Canadian exports, could materially adversely affect the company's business and financial condition[199]. Operational and Regulatory Risks - Successful identification, completion, and integration of acquisitions are critical, with potential risks including competition and regulatory challenges[41]. - The company may encounter difficulties in managing additional operations from acquisitions, potentially affecting financial condition and results[50]. - Risks associated with construction projects include potential delays, cost overruns, and the insolvency of contractors[58]. - The company is subject to risks from economic regulation and adverse regulatory decisions in the countries of operation[41]. - The group may face challenges in obtaining necessary permits and licenses, which could adversely affect business operations and financial condition[71][82]. - Environmental regulations may lead to increased compliance costs and liabilities, impacting the financial performance of infrastructure operations[66]. - Changes in government policies and regulations across various regions could adversely affect the company's financial condition and operational results[215]. Financial and Investment Risks - The company relies on Brookfield for acquisition opportunities, which may be affected by competition from larger entities with greater resources[53]. - Future capital expenditures are necessary to maintain operations and accommodate increased volumes, with potential recovery of investments uncertain[60]. - The company is responsible for its proportionate share of the management fee, which may lead to increased costs[115]. - The company guarantees certain debt obligations of Brookfield Infrastructure, exposing it to credit risk and potentially impacting its financial health[131]. - The company's credit facilities contain covenants that may restrict its ability to engage in certain activities or make distributions to equity[145]. - The company may redeem exchangeable shares at any time without the consent of holders, which could impact their investment[150]. Cybersecurity and Technology Risks - The reliance on technology exposes the group to cybersecurity risks, which could affect operations if systems fail or are compromised[87]. - The company faces ongoing cybersecurity threats that could disrupt its business operations and lead to significant financial loss and reputational damage[90]. - Cyber incidents may remain undetected for extended periods, potentially exacerbating the consequences of data breaches and unauthorized access to sensitive information[91]. - Data protection regulations, such as the GDPR, impose stringent compliance requirements that could adversely affect the company's operations and financial position[96]. Environmental and Compliance Risks - The group faces risks related to environmental damage and regulatory compliance, which could significantly impact financial performance[63]. - Increasing environmental legislation and climate change may lead to higher operational costs that cannot be passed on to consumers, adversely affecting growth prospects[64][65]. - The group is exposed to occupational health and safety risks, which could result in regulatory consequences and financial liabilities[232]. Strategic and Management Risks - Joint ventures and partnerships may reduce the group's influence over operations and expose it to additional obligations and risks[76][78]. - Brookfield holds a 75% voting interest in the company, which allows it to exert substantial influence over management and strategic decisions[104]. - The management services provided by Brookfield may incentivize actions that increase distributions and fees to Brookfield, potentially at the detriment of the company[117]. - The potential for conflicts of interest exists due to the independent operation of Brookfield and Walled-Off Businesses, which may compete for the same investment opportunities[122]. Market and Shareholder Risks - The market price of exchangeable shares and units may be volatile, potentially leading to significant investment losses for holders[158]. - Future exchanges of exchangeable shares for units may dilute existing unit holders' interests and negatively impact the market price of the units[159]. - The company cannot assure that dividends on exchangeable shares will equal those paid on units, which may affect their market price[166]. - Non-U.S. shareholders face foreign currency risk with dividends, as payments are made in U.S. dollars but settled in local currency[167].

Group 1 - The value factor in investing becomes less attractive when growth stocks outperform for an extended period, as seen with companies like NVIDIA and Tesla [1] - Roberts Berzins has over a decade of experience in financial management, focusing on corporate financial strategies and large-scale financings [1] - Berzins has contributed to the institutionalization of the REIT framework in Latvia to enhance liquidity in pan-Baltic capital markets [1] Group 2 - Berzins has developed national SOE financing guidelines and frameworks to channel private capital into affordable housing [1] - He holds a CFA Charter and an ESG investing certificate, and has experience with the Chicago Board of Trade [1] - Berzins is actively involved in thought-leadership activities to support the development of pan-Baltic capital markets [1]

Financial Performance - Brookfield Infrastructure reported net income of $8 million for Q2 2024, a significant decrease from $378 million in Q2 2023[2]. - For the three months ended June 30, 2024, Brookfield Infrastructure Partners reported revenues of $5,138 million, an increase from $4,256 million in the same period of 2023, representing a growth of 20.6%[27]. - The net income attributable to the partnership for the three months ended June 30, 2024, was $8 million, a significant decrease from $378 million in the same period of 2023, reflecting a decline of 97.9%[27]. - Brookfield Infrastructure Corporation reported net income of $643 million for Q2 2024, a significant improvement from a net loss of $154 million in the same period last year[37]. - Revenues for Brookfield Infrastructure Corporation reached $908 million in Q2 2024, compared to $538 million in Q2 2023, reflecting a substantial increase in operational performance[40]. Funds from Operations (FFO) - Funds from operations (FFO) for Q2 2024 reached $608 million, representing a 10% increase compared to $552 million in Q2 2023[3]. - The transport segment generated FFO of $319 million, a 60% increase year-over-year, driven by acquisitions and organic growth of 9%[6]. - The utilities segment's FFO decreased to $180 million from $224 million in the same period last year, primarily due to capital recycling activities[4]. - The data segment's FFO increased by 8% to $78 million, reflecting contributions from recent acquisitions despite the loss of income from a previous sale[8]. - Brookfield Infrastructure Partners L.P. reported consolidated funds from operations (FFO) of $1,416 million, up from $1,113 million year-over-year[30]. - FFO per unit for Q2 2024 was $0.77, an increase from $0.72 in Q2 2023, with an average of 461.5 million limited partnership units outstanding[32]. Acquisitions and Growth Projects - Brookfield Infrastructure secured or completed seven follow-on acquisitions in 2024, totaling nearly $4 billion in enterprise value[9]. - The company has a backlog of organic growth projects valued at $7.7 billion, a 15% increase from the previous year[10]. - Brookfield Infrastructure expects the second half of 2024 to be active for M&A, driven by improved market conditions and interest rates[11]. Cash Flow and Capital Management - Cash from operating activities for the three months ended June 30, 2024, was $1,057 million, up from $970 million in the same period of 2023, marking an increase of 9.0%[28]. - Cash used in investing activities for the three months ended June 30, 2024, was $(1,187) million, compared to cash generated of $760 million in the same period of 2023[29]. - The company monetized assets totaling approximately $210 million this quarter, bringing total capital recycling for the year to $1.4 billion[12]. - The company declared a quarterly distribution of $0.405 per unit, representing a 6% increase compared to the prior year[13]. Assets and Borrowings - Total assets as of June 30, 2024, were $100,892 million, a slight increase from $100,784 million as of December 31, 2023, reflecting a growth of 0.1%[26]. - Corporate borrowings increased to $5,084 million as of June 30, 2024, compared to $4,911 million as of December 31, 2023, representing an increase of 3.5%[26]. - Non-recourse borrowings rose to $44,675 million as of June 30, 2024, up from $40,904 million as of December 31, 2023, indicating an increase of 9.0%[26]. - Total assets for Brookfield Infrastructure Corporation as of June 30, 2024, were $23,657 million, a slight decrease from $23,909 million at the end of 2023[39]. - Non-recourse borrowings increased to $13,088 million as of June 30, 2024, compared to $12,028 million at the end of 2023[39]. Earnings from Associates and Joint Ventures - The share of earnings from associates and joint ventures for the three months ended June 30, 2024, was $95 million, down from $273 million in the same period of 2023, a decrease of 65.2%[27]. - The share of earnings from investments in associates was reported as $0 for Q2 2024, down from $3 million in Q2 2023[40]. Other Financial Metrics - The average number of limited partnership units outstanding for the three months ended June 30, 2024, was 461.5 million, compared to 458.7 million in the same period of 2023, indicating a slight increase of 0.6%[25]. - The cash balance at the end of the period was $466 million, an increase from $356 million at the end of the same period in 2023[42]. - The company reported a change in non-cash working capital of $136 million for the three months ended June 30, 2024, compared to $65 million in the prior year[42]. - Depreciation and amortization expense for the three months ended June 30, 2024, was $191 million, compared to $57 million in the same period of 2023[42]. - The impact of foreign exchange on cash was a negative $34 million for the three months ended June 30, 2024[42].

Financial Data and Key Metrics Changes - For Q2 2024, Brookfield Infrastructure generated funds from operations (FFO) of $608 million, a 10% increase compared to the same period last year [3] - The utilities segment reported FFO of $180 million, down from $224 million year-over-year, primarily due to capital recycling activities [4] - The transport segment saw FFO rise to $319 million, a 60% increase year-over-year, driven by acquisitions and tariff increases [5] - The midstream segment generated FFO of $143 million, benefiting from strong demand and customer activity [6] - The data segment reported FFO of $78 million, reflecting an 8% increase year-over-year due to contributions from recent acquisitions [7] Business Line Data and Key Metrics Changes - Utilities segment FFO decreased due to capital recycling and increased interest costs, although organic growth was noted from inflation indexation and new capital [4] - Transport segment FFO increased significantly due to the acquisition of a global intermodal logistics operation and strong performance in Brazilian rail operations [5] - Midstream segment FFO growth was attributed to high demand in North American gas storage and new commercial agreements [6] - Data segment growth was driven by acquisitions and strong leasing activity in data centers [7] Market Data and Key Metrics Changes - The company noted a favorable market environment for capital markets, completing approximately $5 billion in non-recourse financings [8][9] - The company has a strong balance sheet with only 1% of asset-level debt maturing in the next 12 months and no corporate maturities until 2027 [10] Company Strategy and Development Direction - The company is focusing on tuck-in and organic growth opportunities due to a slower start in public and private infrastructure deal flow [11] - A significant acquisition pipeline exists, with seven follow-on acquisitions completed in 2024, totaling nearly $4 billion in enterprise value [12] - The company is investing over $1 billion in growth capital for data centers and expanding its midstream operations [13] - The company is well-positioned to capitalize on trends in digitalization and decarbonization, particularly in AI infrastructure [15][16] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the back half of 2024 for M&A activity, driven by improved interest rates and industry tailwinds [13] - The company is actively pursuing capital recycling, with expectations to generate approximately $2.5 billion from asset sales [14] - Management highlighted the importance of maintaining a strong balance sheet and liquidity to support growth initiatives [17] Other Important Information - The company has a project backlog that has increased by 15% year-over-year to approximately $7.7 billion [12] - The company is engaged in discussions with technology companies to leverage its infrastructure for AI and other applications [16] Q&A Session Summary Question: Opportunities tied to AI across data, utility, and midstream - Management discussed the ecosystem around AI infrastructure, including data centers and power transmission [18][19] Question: Capital appetite for AI-related opportunities - Management indicated a strong appetite for capital deployment, potentially sourcing tens of billions for AI-related transactions [21][22] Question: M&A market heating up and asset sale proceeds - Management confirmed intentions to redeploy asset sale proceeds into higher-earning investments [30][31] Question: Midstream sector M&A activity - Management acknowledged the midstream sector's attractiveness and potential for new investments [35] Question: Update on data center development pipeline - Management provided insights into ongoing construction activities across various global locations [37][38]

Financial Data and Key Metrics Changes - The company generated funds from operations (FFO) of $615 million, representing an 11% increase over the prior year period, driven by 7% organic growth and contributions from over $2 billion of capital deployed in the previous year [36][28][41] - FFO from the Transport segment was $302 million, a 57% increase year-over-year, largely due to the acquisition of Triton and increased global demand for containers [39][40] - The Midstream segment generated FFO of $170 million, comparable to the prior year after excluding capital recycling impacts, with a compound annual growth rate of over 20% in the past five years [41][42] Business Line Data and Key Metrics Changes - Utilities generated FFO of $190 million, down from $208 million in the same period last year, primarily due to capital recycling initiatives [37] - The Data segment's FFO was $68 million, comparable to the same period last year, benefiting from acquisitions offset by the sale of a New Zealand business [24] - The Transport segment's fleet utilization increased to over 98%, securing attractive rates on long-duration leases [40][39] Market Data and Key Metrics Changes - The balance of transport operations grew by 10%, driven by inflationary tariff increases and higher volumes, with rail networks and toll roads realizing average rate increases of 9% and 7% respectively [23] - Traffic levels on roads increased by 4%, and diversified terminals recorded 7% higher volumes [23] Company Strategy and Development Direction - The company is focused on capital recycling, having secured $1.2 billion in proceeds, with a target of $2 billion annually [28] - The investment pipeline remains full, with a focus on high-risk adjusted returns, particularly in the data and decarbonization sectors [31][75] - The company is pursuing both organic growth and M&A opportunities, with a significant portion of new investments related to data and decarbonization trends [75][77] Management's Comments on Operating Environment and Future Outlook - Management noted that market conditions have improved, with increased M&A activity expected [28] - The long-term outlook for the global economy remains positive, despite potential volatility in the near term due to interest rate fluctuations and geopolitical issues [50][51] - The company believes its strong business performance and strategic outlook outweigh near-term interest rate concerns [53][54] Other Important Information - The company has a strong financial position, with over 90% of its capital structure fixed rate and an average term of seven years [48] - The company expects less than $600 million of asset-level maturities in 2024 to have higher borrowing costs than current levels [48] Q&A Session Summary Question: Can you provide specifics on Triton's performance and its ongoing expectations? - Triton is performing well above expectations, with fleet utilization over 98% and attractive rates on long-duration leases [40][39] Question: What is the outlook for the M&A market and asset monetization? - The company is being selective in M&A, focusing on opportunities with high returns, and may accelerate asset monetizations to cushion capital [88][102] Question: How is the company leveraging decarbonization and digitalization trends? - Approximately 30% of current FFO is from decarbonization and data sectors, with 80% of capital projects focused on these areas [77][75]

Brookfield Infrastructure is the flagship listed infrastructure company of Brookfield Asset Management, a global alternative asset manager with over $900 billion of assets under management. For more information, go to https://brookfield.com. Market conditions have continued to improve during 2024. Activity levels for M&A processes have increased, and as a result, the environment for transacting should be more balanced this year as compared to the prior year. We have made significant progress on our capital ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D.C. 20549 FORM 20-F REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES ☐ EXCHANGE ACT OF 1934 OR ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ☒ ACT OF 1934 for the fiscal year ended December 31, 2023 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES ☐ EXCHANGE ACT OF 1934 OR SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES ☐ EXCHANGE ACT OF 1934 Commiss ...

EXHIBIT 99.1 "We successfully executed our business strategy and achieved all our capital allocation and performance targets during 2023," said Sam Pollock, Chief Executive Officer of Brookfield Infrastructure. "We believe 2024 will be an even better year, and we are already off to a strong start on our capital recycling and deployment initiatives." Funds from operations (FFO) for 2023 was $2.3 billion, an increase of 10% compared to 2022. Organic growth for the year was 8%, reflecting strong levels of infl ...

EXHIBIT 99.1 BROOKFIELD, NEWS, Nov. 01, 2023 (GLOBE NEWSWIRE) -- Brookfield Infrastructure Partners L.P. (Brookfield Infrastructure, BIP, or the Partnership) (NYSE: BIP; TSX: BIP.UN) today announced its results for the third quarter ended September 30, 2023. | --- | --- | --- | --- | --- | --- | --- | --- | --- | |------------------------------------------------------------------|-------|--------------------------------------------------------|-------|--------------|-------|--------------------------------- ...

Financial Performance - Brookfield Infrastructure reported a net income of $378 million for Q2 2023, up from $176 million in Q2 2022, driven by acquisitions and organic growth [14]. - Funds from Operations (FFO) for Q2 2023 reached $552 million, compared to $513 million in Q2 2022, reflecting a 7.6% increase [15]. - Brookfield Infrastructure reported revenues of $4,256 million for the second quarter of 2023, a 15.6% increase from $3,681 million in the same period of 2022 [30]. - The net income attributable to the partnership for Q2 2023 was $378 million, up 114.8% from $176 million in Q2 2022 [30]. - The company achieved cash from operating activities of $970 million in Q2 2023, compared to $734 million in Q2 2022, reflecting a 32.1% increase [31]. - The company reported a basic and diluted loss per unit attributable to limited partners of $0.38 for Q2 2023, compared to $0.13 in Q2 2022 [33]. - BIPC reported a net loss of $154 million for the three months ended June 30, 2023, compared to a net income of $842 million in the prior year [70]. - Revenues for the three months ended June 30, 2023, were $538 million, an increase from $479 million in the same period of 2022 [74]. Segment Performance - The Utilities segment generated $224 million in FFO for Q2 2023, an increase from $188 million in Q2 2022, while the Data segment also saw growth from $60 million to $72 million [15]. - The midstream segment's FFO decreased slightly to $161 million from $170 million year-over-year, impacted by market-sensitive revenue normalization [17]. - FFO for the transport segment was $199 million, a 5% increase from the prior year, benefiting from a 10% increase in toll rates and an 8% increase in rail network rates [40]. - The data segment reported FFO of $72 million, a 20% increase year-over-year, aided by acquisitions in Europe and Australia [41]. - FFO for the U.K. regulated distribution business increased to $124 million, a 7% increase year-over-year, driven by inflation indexation and higher connection activity [59]. Acquisitions and Investments - Brookfield Infrastructure announced an agreement to acquire a co-controlling stake in Compass Datacenters for $1.35 billion, with an equity contribution of approximately $375 million [18]. - The acquisition of Data4, a European hyperscale data center platform, closed on August 1, 2023, converting a 130 megawatt memorandum into firm contracted capacity [43]. - Brookfield Infrastructure's equity share of deployment across three transactions is expected to be nearly $2 billion [19]. - Brookfield Infrastructure continues to identify investment opportunities above its targeted return threshold, enhancing its global data center growth strategy [42]. Cash Flow and Assets - Cash from operating activities for Q2 2023 was $265 million, compared to $232 million in Q2 2022, indicating improved operational efficiency [9]. - Brookfield Infrastructure's total assets increased to $81,671 million as of June 30, 2023, up from $72,969 million at the end of 2022, marking an increase of 11.7% [29]. - The company completed $1.9 billion in asset sales as part of its capital recycling program in 2023 [37]. - Brookfield Infrastructure's cash and cash equivalents increased to $1,380 million as of June 30, 2023, from $1,279 million at the end of 2022, a growth of 7.9% [29]. - The balance of cash and cash equivalents at the end of the period was $356 million, reflecting a change of $30 million during the period [75]. Liabilities and Equity - Total liabilities and equity as of June 30, 2023, stood at $10.973 billion, up from $10.178 billion in the previous year [8]. - Brookfield Infrastructure's total liabilities and partnership capital reached $81,671 million as of June 30, 2023, consistent with total assets, indicating a balanced financial position [29]. Other Financial Metrics - The average number of limited partnership units outstanding was 458.7 million for the three-month period ended June 30, 2023, compared to 458.0 million in the same period of 2022 [3]. - Average number of partnership units outstanding for Q2 2023 was 771.6 million, compared to 771.1 million in the same period of 2022 [52]. - Direct operating costs rose to $149 million for the three months ended June 30, 2023, compared to $131 million in the prior year [74]. - Interest expense increased to $161 million for the three months ended June 30, 2023, from $143 million in the same period of 2022 [74]. - FFO (Funds From Operations) is defined as net income excluding certain non-recurring expenses, providing a clearer view of operating performance [72]. Corporate Governance - The Board of Directors declared a quarterly distribution of $0.3825 per unit, a 6% increase compared to the prior year, payable on September 29, 2023 [45]. - The company does not undertake any obligation to publicly update or revise forward-looking statements except as required by law [71].