Company: BIPC
Filing Date: 2025-03-24
Form Type: 20-F
Source: 0001628280-25-014377
Chunk: 348

Company: Brookfield Infrastructure Corp
Filing Date: 2025-03-24
Form: 20-F
Item: Item 16E
Chunk 348
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ITEM 16E. PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASER

Our company may from time-to-time, subject to applicable law, purchase exchangeable shares for cancellation in the open market, provided that any necessary approval has been obtained.

In November 2024, we announced that the TSX accepted a notice filed by our company of its intention to renew its normal course issuer bid to repurchase outstanding exchangeable shares. A copy of the notice may be obtained free of charge by contacting our company. Our company believes that the renewed normal course issuer bid provides the flexibility to use available funds to purchase exchangeable shares, should they be trading in price ranges that do not fully reflect their value. Under the normal course issuer bid, the board of directors of our company authorized us to repurchase up to 10% of the total public float of exchangeable shares, or up to 11,889,600 exchangeable shares. At the close of business on November 19, 2024, there were 132,029,368 exchangeable shares issued and outstanding and 118,896,006 exchangeable shares in the public float. Under our normal course issuer bid, we may repurchase up to 46,896 exchangeable shares on the TSX during any trading day, which represents 25% of the average daily trading volume of 187,586 exchangeable shares on the TSX for the six months ended October 31, 2024, calculated in accordance with the rules of the TSX.

Repurchases under our normal course issuer bid were authorized to commence on December 2, 2024 and our normal course issuer bid will terminate on December 1, 2025, or earlier should we complete our repurchases prior to such date.

266 Brookfield Infrastructure Corporation

The price to be paid for our exchangeable shares under the normal course issuer bid will be the market price at the time of purchase. The actual number of exchangeable shares to be purchased and the timing of such purchases will be determined by our company, and all purchases will be made through the facilities of the TSX or the NYSE. Repurchases may occur subject to prevailing market conditions and will be funded from available cash. Repurchases will also be subject to compliance with applicable U. S. federal securities laws, including Rule 10b-18 under the Exchange Act, as well as applicable Canadian securities laws. All exchangeable shares acquired by our company under the normal course issuer bid