Company: BIPC
Filing Date: 2025-03-24
Form Type: 20-F
Source: 0001628280-25-014377
Chunk: 309

Company: Brookfield Infrastructure Corp
Filing Date: 2025-03-24
Form: 20-F
Item: Item 10
Chunk 309
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, including where substantially concurrent with a liquidation of BIHC, all of the class A.1 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 articles of BIHC, each class A.1 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.1 exchangeable shares, then the undeclared or unpaid amount of such dividend accrues 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. In addition to such dividends, additional dividends may be declared and paid on the class A.1 exchangeable shares if, as and when declared by the Board.

Description of Class A.2 Exchangeable Shares

Each class A.2 exchangeable share is non-voting and structured with the intention of providing an economic return equivalent to a unit and the rights, privileges, restrictions and conditions attached to each class A.2 exchangeable share are such that each class A.2 exchangeable share is, as nearly as practicable, functionally and economically, equivalent to an exchangeable share and a unit. In particular:

• each class A.2 exchangeable share are exchangeable at the option of a holder for (a) one (1) exchangeable share (subject to adjustment to reflect certain capital events) or 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), provided that, after giving effect to any such exchange, Brookfield will not be permitted to receive a number of exchangeable shares that would result in Brookfield owning 9.5% or more of the aggregate fair market value of all issued and outstanding shares of BIPC;

• the class A.2 exchangeable shares are redeemable by BIHC at any time (including following a notice requiring redemption having been given by the partnership) for (a) one (1) exchangeable share (subject to adjustment to reflect certain capital events) or