Company: BIPC
Filing Date: 2025-03-24
Form Type: 20-F
Source: 0001628280-25-014377
Chunk: 105

Company: Brookfield Infrastructure Corp
Filing Date: 2025-03-24
Form: 20-F
Item: Item 5
Chunk 105
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 ended December 31, 2023 primarily related to funding associated with the acquisition of our global intermodal logistics operation, partially offset by distributions paid to non-controlling interests. Cash used by financing activities during the year ended December 31, 2022 primarily related to a drawdown on our deposit with Brookfield Infrastructure to finance the acquisition of our Australian regulated utility, partially offset by distributions paid to non-controlling interests.

94 Brookfield Infrastructure Corporation

SHARE CAPITAL

Our company’s equity interests include exchangeable shares held by the public shareholders and class B shares held by Brookfield Infrastructure. Dividends on each of our exchangeable shares are expected to be declared and paid at the same time and in the same amount per share as distributions on each unit of the partnership. Ownership of class B shares entitle holders to receive dividends as and when declared by our board.

As of December 31, 2024, our company’s share capital is comprised of exchangeable shares and class B shares. As part of the Arrangement, BN transferred their exchangeable shares of BIHC to BIPC in exchange for class A.2 exchangeable shares on a one-for-one basis, which are exchangeable for exchangeable shares (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% of more of the aggregate fair market value of all issued and outstanding shares of our company) or units.

                                                                     As of                                                                       
                                                                     December 31, 2024                       December 31, 2023                   
  Exchangeable shares and class A.2 exchangeable shares (1),(2)                             132,051,909                             131,872,066  
  Class B shares (3)                                                                             31,909      2                                   
  Class C shares                                                     —                                                               11,117,660  

(1) Includes 119,039,120 exchangeable shares (2023: 131,872,066) and 13,012,789 class A.2 exchangeable shares (2023: nil).

(2) Exchangeable shares prior to the Arrangement refer to the exchangeable shares of BIHC, whereas exchangeable shares post the Arrangement refer to the exchangeable shares of BIPC.

(3) Class B shares prior to the Arrangement refer to the BIHC class B shares, whereas class B shares post the Arrangement refer to the B