Company: BIPC
Filing Date: 2025-03-24
Form Type: 20-F
Source: 0001628280-25-014377
Chunk: 310

Company: Brookfield Infrastructure Corp
Filing Date: 2025-03-24
Form: 20-F
Item: Item 10
Chunk 310
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 its cash equivalent (the form of payment to be determined at the election of BIHC) or (b) one (1) unit (subject to adjustment to reflect certain capital events) or its cash equivalent (the form of payment to be determined at the election of BIHC);

• upon a liquidation, dissolution or winding up of BIHC, holders of class A.2 exchangeable shares are entitled to receive one (1) unit (subject to adjustment to reflect certain capital events) or its cash equivalent (the form of payment to be determined at the election of BIHC) and not any remaining property or assets of BIHC following such payment;

• upon a liquidation of the partnership, including where substantially concurrent with a liquidation of BIHC, all of the class A.2 exchangeable shares will be automatically redeemed for units (or their cash equivalent, at BIHC’s election) on a one-for-one basis (subject to adjustment to reflect certain capital events); and

• subject to applicable law and in accordance with the amended articles of BIHC, each class A.2 exchangeable share entitles the holder to dividends from BIHC payable contemporaneously, and equivalent to, each distribution on a unit. The articles of BIHC also provide that if a distribution is declared on the units and an equivalent dividend is not declared and paid concurrently on the class A.2 exchangeable shares, then the undeclared or unpaid amount of such dividend accrues

242 Brookfield Infrastructure Corporation

and accumulates and is to be paid upon the first to occur of any of the circumstances contemplated by the four preceding paragraphs, if not yet paid.

Each class A.2 exchangeable share held by the partnership or its subsidiaries is convertible into a class

A.1 exchangeable share or a class C share at the option of the holder.

Description of BIHC Class B Shares

The BIHC class B shares will continue to be structured to provide the holders with control of BIHC. In particular:

• holders of BIHC class B shares will be entitled to, in the aggregate, a number of votes equal to three (3) times the number of votes attached to the class A.1 exchangeable shares. As a result, holders of BIHC class B shares will have a 75% voting interest in BIHC and holders of class A.1 exchangeable shares will have a 25% voting interest in BIHC; and

• in the event that a share/stock dividend is declared and paid on the class A.1 exchangeable