Company: BIPC
Filing Date: 2025-03-24
Form Type: 20-F
Source: 0001628280-25-014377
Chunk: 291

Company: Brookfield Infrastructure Corp
Filing Date: 2025-03-24
Form: 20-F
Item: Item 10
Chunk 291
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ITEM 10. ADDITIONAL INFORMATION

10. A SHARE CAPITAL

Not applicable.

Brookfield Infrastructure Corporation 215

10. B MEMORANDUM AND ARTICLES OF ASSOCIATION

DESCRIPTION OF OUR SHARE CAPITAL

Our authorized share capital consists of (i) an unlimited number of exchangeable shares; and (ii) an unlimited number of class B shares.

As of March 20, 2025, 119,022,666 exchangeable shares and 31,909 class B shares are issued and outstanding. Additionally, there were 13,012,789 class A.2 exchangeable shares issued and outstanding. Brookfield Infrastructure holds the class B shares, having a 75% voting interest in our company, and which entitle the partnership to the residual value in our company after payment in full of the amount due to holders of exchangeable shares. In addition, Brookfield directly and indirectly holds all of the issued and outstanding class A.2 exchangeable shares (being 13,012,789 class A.2 exchangeable shares) which are exchangeable on a one-for-one basis for exchangeable shares (subject to an ownership cap that limits the exchange by Brookfield of class A.2 exchangeable shares such that exchanges by Brookfield may not result in Brookfield owning 9.5% or more of the aggregate fair market value of all issued and outstanding shares of our company) or units. Accordingly, Brookfield beneficially holds, directly or indirectly, shares exchangeable into exchangeable shares representing approximately 9.9% of the exchangeable shares on an as-exchanged basis (provided however that exchanges of such shares are subject to the ownership cap described above).

Exchangeable Shares

The following description of exchangeable shares sets forth certain general terms and provisions of exchangeable shares. This description is in all respects subject to and qualified in its entirety by applicable law and the provisions of our company’s articles. Each exchangeable share is intended to provide its holder with an economic return that is equivalent to that of a unit because of the ability to exchange into a unit or its cash equivalent and the identical distributions that are expected to be paid on each exchangeable share. Consequently, we expect that the market price of our exchangeable shares will be significantly impacted by the market price of the units and the combined business performance of our group as a whole.

Voting

Except as otherwise expressly provided in the articles or as required by law, each holder of exchangeable shares is entitled to receive notice of, and to attend and vote