Company: BIPC
Filing Date: 2025-03-24
Form Type: 20-F
Source: 0001628280-25-014377
Chunk: 120

Company: Brookfield Infrastructure Corp
Filing Date: 2025-03-24
Form: 20-F
Item: Item 6
Chunk 120
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 base management fee, the market value of our group is equal to the aggregate value of all outstanding units (assuming full conversion of Brookfield’s limited partnership interests in Holding LP into units), preferred units and securities of the other Service Recipients (including the Exchangeable units and our exchangeable shares, calculated on a fully-diluted basis assuming full conversion of any class A.2 exchangeable shares into exchangeable shares) that are not held by Brookfield Infrastructure, plus all outstanding third party debt with recourse to a Service Recipient, less all cash held by such entities. Brookfield Infrastructure Special LP, a subsidiary of Brookfield, also receives incentive distributions based on the amount by which quarterly distributions on Holding LP units (other than Holding LP Class A Preferred Units), as well as economically equivalent securities of the other Service Recipients, including our company, exceed specified target levels as set forth in Holding LP’s limited partnership agreement, which specified target levels were amended in connection with the special distribution.

The table below sets forth the management fees for the years ended December 31, 2024, 2023 and 2022, respectively.

                           For the year ended December 31,                                              
  US$ MILLIONS             2024                                         2023              2022          
 ────────────────────────────────────────────────────────────────────────────────────────────────────────
  Base management fee      $                                    67      $         63      $         63  

To the extent that under any other arrangement we are obligated to pay a base management fee (directly or indirectly through an equivalent arrangement) to the Service Providers (or any affiliate) on a portion of our capital that is comparable to the base management fee, the base management fee payable for each quarter in respect thereof will be reduced on a dollar for dollar basis by our proportionate share of the comparable base management fee (or equivalent amount) under such other arrangement for that quarter. The base management fee will not be reduced by the amount of any incentive distribution payable by any Service Recipient or operating entity to the Service Providers (or any other affiliate) (for which there is a separate credit mechanism under the Holding LP’s limited partnership agreement), or any other fees that are payable by any operating entity to Brookfield for financial advisory, operations and maintenance, development, operations management and other services. See Item 7. B “ Related Party Transactions - Other Services” and Item 7. B “ Related Party Transactions - Incentive Distributions.”

106 Brookfield Infrastructure Corporation

Reimbursement