Brookfield Infrastructure Corporation and Brookfield Infrastructure Partners L.P. filed a November 19, 2025 prospectus supplement for an at-the-market equity program of up to US$400,000,000 (approximately C$564,000,000) in Class A Exchangeable Subordinate Voting Shares (BIPC). The Exchangeable Shares may be sold on the TSX and NYSE (or other permitted marketplaces), with no minimum raise; prices will reflect prevailing market levels at the time of sale. Each Exchangeable Share is exchangeable at the holder’s option for one BIP Unit or its cash equivalent, subject to customary adjustments. The issuers appointed RBC Dominion Securities Inc. and Scotia Capital Inc. in Canada, and RBC Capital Markets, LLC and Scotia Capital (USA) Inc. in the U.S., as sales agents; aggregate commissions are up to 2% of gross proceeds. Net proceeds are intended to facilitate repurchases by the Partnership under its normal course issuer bid and for general corporate purposes. TSX has conditionally approved, and NYSE has authorized, listing of the securities issuable under the program, subject to customary conditions. The offering is made in Canada under the short form base shelf prospectus dated January 29, 2025 and concurrently in the U.S. under F-3 registration statements.

Legal advisors include McMillan LLP (validity of Exchangeable Shares), Appleby (Bermuda) Limited (validity of Units); Torys LLP advises the issuers on Canadian, U.S. federal and New York law; Goodmans LLP (Canada) and Milbank LLP (U.S.) advise the Agents.