Company: BIPC
Filing Date: 2025-03-24
Form Type: 20-F
Source: 0001628280-25-014377
Chunk: 132

Company: Brookfield Infrastructure Corp
Filing Date: 2025-03-24
Form: 20-F
Item: Item 7
Chunk 132
---
,789 class A.2 exchangeable shares, which are exchangeable for exchangeable shares on a one for one basis, subject to a restriction that limits the exchange by Brookfield and its subsidiaries of class A.2 exchangeable shares such that exchanges by Brookfield and its subsidiaries may not result in Brookfield and its subsidiaries owning 9.5% or more of the aggregate fair market value of all issued and outstanding shares of our company (the “ Ownership Cap”). In addition, BAM Partners Trust (the “ BAM Partnership”), may be deemed a beneficial owner of such exchangeable shares. The BAM Partnership is a trust established under the laws of Ontario and is the sole owner of the Class B limited voting shares of BN. The BAM Partnership has the ability to appoint on half of the board of directors of BN and approve all other matters requiring shareholder approval of BN with no single individual or entity controlling the BAM Partnership. As such, the BAM Partnership may be deemed to have indirect beneficial ownership of 13,012,789 exchangeable shares. The business address of each of BN, the BAM Partnership and the BN Subsidiary is Brookfield Place, 181 Bay Street, Suite 100, Toronto, Ontario M5J 2T3.

(4) Based on the Schedule 13G/A filed with the SEC by FMR LLC on February 12, 2025. The business address of FMR LLC is 245 Summer Street, Boston, Massachusetts, 02210.

(5) Based on the Schedule 13G filed with the SEC by Blackrock, Inc on February 2, 2024. The business address of Blackrock, Inc. is 50 Hudson Yards, New York, New York 10001.

Brookfield Infrastructure holds all of the class B shares, having a 75% voting interest in our company, and which entitle the partnership to all of the residual value in our company after payment in full of the amount due to holders of exchangeable shares. Brookfield, directly and indirectly, holds all of the issued and outstanding class A.2 exchangeable shares which are exchangeable for exchangeable shares (subject to the 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 BIPC) or units. Together, BN and Brookfield Infrastructure hold an approximate 77% voting interest in our