About Brookfield Infrastructure Partners L.P.

Brookfield Infrastructure Partners L.P. (Brookfield Infrastructure) is a global infrastructure company that owns and operates high-quality, essential, long-life assets in the utilities, transport, midstream and data sectors across North and South America, the Asia Pacific and Europe. The company is a subsidiary of Brookfield Corporation (Brookfield). Operations The company owns a portfolio of infrastructure assets that are diversified by sector and by geography. Segments Utilities The company’s Utilities segment is consisted of businesses from which the company earns a return on a regulated or notionally stipulated asset base, which the company refers to as the rate base, or from revenues in accordance with long-term concession agreements, private bilateral contracts approved or ratified by the regulator, or price control frameworks. These include the company’s regulated transmission (natural gas and electricity) and commercial and residential distribution (electricity, natural gas, and water connections) operations. The company’s Utilities segment is consisted of the following: Regulated Transmission Approximately 60,000 kilometers of operational electricity transmission and distribution lines in Australia. Approximately 2,900 kilometers of electricity transmission lines in Brazil, of which approximately 2,000 kilometers are operational. Approximately 4,200 kilometers of natural gas pipelines in North America, South America, and India. Commercial and Residential Distribution Approximately 7.8 million connections, predominantly electricity and natural gas. Residential infrastructure, including water heater, heating, ventilation, and air conditioner (‘HVAC’) rentals, as well as other essential home services and policies to approximately 10.5 million customers with approximately 16.8 million policies and 1.6 million rental contracts in Canada, United States, Europe, and the U.K. Over 540,000 long-term contracted sub-metering services within Canada and the United States. Approximately 1.7 million installed smart meters in Australia and New Zealand. Regulated Transmission The company’s regulated electricity transmission operation in South America includes four different concessions and is consisted of approximately 2,000 kilometers of operating electricity transmission lines, with an additional 900 kilometers expected to be commissioned in 2023. The company’s regulated gas transmission operation in Brazil operates over 2,000 kilometers of natural gas transportation pipelines in the states of Rio de Janeiro, Sao Paulo and Minas Gerais. The total capacity of 158 million cubic meters is fully contracted under long-term ‘ship-or-pay’, inflation adjusted gas transportation agreements (‘GTAs’) that have an average remaining life of 7 years. These assets operate under perpetual authorizations. The company’s regulated gas transmission business in Mexico operates nearly 740 kilometers of pipeline, which connects supply basins in the United States to the key gas demand region of Mexico. The total capacity of 1.43 billion cubic feet (‘Bcf’) is fully contracted under long-term take-or-pay agreements under an availability-based regulatory framework. The company’s regulated gas transmission operation in India includes approximately 1,500 kilometers of natural gas transmission pipeline systems across the country. The system includes 11 compressor stations with over 900 megawatts (‘MWs’) of installed power and 2 pipeline operation centers for remote operations. The business is contracted to generate stable cash flows through a capacity based ‘ship-or-pay’ agreement with a high-quality counterparty. The company’s Australian regulated utility is primarily consisted of approximately 7,000 kilometers of electricity transmission lines and 53,000 kilometers of electricity distribution lines across the state of Victoria. The business operates under a regulatory framework and long term unregulated contracts. The business also owns a regulated gas distribution business that comprises approximately 10% of revenues. Strategic Position The company’s regulated transmission operations occupy key positions in the markets in which the company operates. In Brazil, the company’s transmission lines in operation and under development are located in the northeast, southeast, and southern regions of the country, including in the states of Bahia, Piauí, Minas Gerais, and Rio Grande do Sul. These lines will support the region’s growing demand for electricity and facilitate the delivery of power from renewable generation resources to the national grid. The company’s natural gas transmission operation in Brazil provides the backbone of Brazil’s southeast natural gas transportation system, supplying natural gas to a region responsible for approximately 50% of Brazil’s demand, including Rio de Janeiro and Sao Paulo. In Mexico, the company’s regulated gas transmission business transports supply from the United States to key demand regions in central Mexico. The company’s Brazilian natural gas transmission operation has 100% of its capacity fully contracted under long-term ‘ship-or-pay’, inflation adjusted GTAs that have an average remaining life of 7 years. The company’s North American regulated gas transmission operation is also fully contracted under long-term take-or-pay, USD-linked and inflation adjusted GTAs that have an average remaining life of 19 years. In India, the company’s gas transmission operations connect major domestic sources of supply in the eastern Indian state of Andhra Pradesh and LNG terminals on the west coast to key demand centers in the Northern and Western regions of India. As the only cross-country pipeline and with significant unused capacity, the company is well positioned to supply gas produced in eastern India, which is a region that accounts for around half of the country’s estimated remaining natural gas resources, to the western part of the country. In Australia, approximately 80% of the company’s revenues are earned from its regulated electricity transmission and distribution networks in Victoria. The electricity transmission network supplies approximately 6.6 million people and the electricity distribution network supplies approximately 800,000 residential and business customers. The regulated gas distribution network is one of three in Victoria and supplies approximately 780,000 customers. Regulatory Environment The company’s North American regulated gas transmission business is located in Mexico and is regulated by Mexico’s Energy Regulatory Commission, which is responsible for approving long-term levelized take-or-pay tariffs, subject to reviews every five years. The company’s gas transmission operations in India are regulated by the Petroleum and Natural Gas Regulatory Board, which is also responsible for determining tariffs charged to users of the pipeline. The company’s Australian regulated utility operates under a revenue cap set by the Australian Energy Regulator over a regulatory period and tariffs are adjusted annually. Growth Opportunities The company’s electricity transmission concessions in Brazil are required for the expansion of the region’s transmission system grid to connect new electricity generation resources, including wind located in the northeast and hydro in the north to satisfy growing demand. The company’s natural gas transmission operation in Brazil is strategically located in the region where the majority of Brazilian economic activity and pre-salt offshore oil production occurs. The company’s gas transmission operation in India is positioned to capture increasing gas demand in the country. The company’s business connects key demand centers in the Western portion of the country with access to the largest gas producing region of the country. The company plans to utilize existing unused capacity in its pipeline to attract new customers and grow the company’s business. Commercial and Residential Distribution The company’s distribution businesses provide a wide range of heating, cooling and energy solutions to both commercial and residential customers. The company’s operations have approximately 7.8 million connections, predominately electricity and natural gas, in the U.K. and Colombia. In the U.K., the company’s operation is the leading independent ‘last-mile’, multi-utility connection provider, with approximately 4.3 million connections. In South America, the company’s natural gas distribution business primarily services the city of Bogotá, which represents approximately 60% of the total system rate base with the remaining 40% located across other cities and municipalities around the country. The company’s residential infrastructure businesses own, maintain, and provide recurring home repair services for critical in-home infrastructure, a large installed base of home equipment, including heating, cooling, water heaters, solar and energy storage solutions. The company’s large customer base is under long-term contracts to both residential and commercial customers across Canada, the United States, Europe, and the U.K. The terms of the leases are generally tied to the useful life of the equipment, which can range between 10 years in high-use HVAC climates, such as the Southern United States and over 15 years for water heaters in Canada. In addition to leasing, customers can purchase the equipment outright or through financing options. The businesses also provide other complementary services, such as repair and improvement, protection plans, plumbing, electrical and related maintenance services. With approximately 1.6 million water heater and HVAC customers and 16.8 million service and policy contracts, the business has a growing annuity asset base and it is well established in each of its core markets. The company’s residential infrastructure businesses also provide smart meter and sub-metering services for up to 20 year contracts for electricity, heating, gas and water to apartments, condominiums, townhouse complexes, mixed-use multi-residential and multi-tenant commercial buildings in Canada, the United States, Australia, and New Zealand. The company’s North American sub-metering business has over 540,000 contracted services, making it the largest non-utility sub-meter provider in the markets in which the company operates. The company’s smart meter business is one of the leading providers of smart meters and metering services in Australia and New Zealand. The business owns, installs and services smart meters for over 55 retailers under long term contracts. Across Australia and New Zealand, the business has installed approximately 1.7 million smart meters. Strategic Position The company’s commercial and residential operations are critical to the markets in which they are located. In the U.K., the company’s regulated distribution system is a market leader in terms of new gas and electricity connection sales to the new-build housing market, and total installed connections among independent utilities. The company’s U.K. operation has a diverse customer base throughout England, Scotland and Wales. The company’s U.K. customers consist primarily of large energy retailers who serve residential and commercial users. The company’s Colombian natural gas distribution business provides reliable gas to approximately 3.5 million commercial and residential customers. The company’s Colombian regulated natural gas business supplies approximately one third of Colombia’s natural gas distribution demand spanning a network of approximately 24,600 kilometers. The company’s U.K. and Colombian operations generate stable cash flow in the geographies in which the company operates. The company’s residential infrastructure operation is one of the largest home energy solutions businesses in North America, with a growing footprint in the U.K. and Europe. The company continued to expand its residential infrastructure business through new product lines and geographies with the acquisitions of a multinational, leading home warranty and HVAC installation business, as well as the largest provider of rental water heaters in Quebec. The company’s strategy is to meaningfully grow the business by leveraging its scale and service capabilities, particularly to drive home equipment rental asset growth in the markets that the company operates. The company’s sub-metering business is a leading non-utility sub-meter provider in Canada and the United States. The company’s business provides an integrated, critical component of an essential service and is directly tied to the underlying infrastructure of the building. The company’s smart meter business in Australia and New Zealand has long-term contracts with high quality counterparties providing highly certain cash flows linked to annual inflation and protection against churn and early termination. These contracts may include minimum guaranteed smart meter deployments and exclusive deployment rights with major retailers. Regulatory Environment The company’s sub-metering services operation is governed by local sub-metering legislation in the provinces and states that the company operates in. In Ontario and New York, the largest markets in which the company operates, the legislation sets out a high-level framework for individual suite sub-metering and provides regulatory bodies, such as the Ontario Energy Board and New York State Public Service Commission with regulatory oversight. Growth Opportunities The company’s commercial and residential distribution operations will be able to grow organically in each of the regions in which the company operates. In the city of Bogotá, the company serves 2.1 million customers and is positioned to capture future growth through higher residential consumption from growing demand for natural gas home appliances. The company’s residential infrastructure business is focused on growing its business through organic growth opportunities, strategic acquisitions and expanding its product and service offerings. The company’s smart meter business in Australia and New Zealand is focused on growing its business through organic growth, strategic acquisitions and expanding its ancillary metering services. Transport segment The company’s Transport segment is consisted of infrastructure assets that provide transportation, storage and handling services for merchandise goods, commodities and passengers. This operating segment is consisted of businesses, such as the company’s rail and toll road operations, as well as diversified terminal operations, which are highly contracted and subject to the regulatory regimes applicable to the goods they handle. The company’s Transport segment is consisted of the following: Diversified Terminals 11 terminals in the U.K. and Australia facilitating global trade of goods, natural resources and commodities. An approximately 30 million tonnes per annum (‘mtpa’) LNG export terminal in the United States. An 85 mtpa export facility in Australia. Rail 115 short line and regional freight railroads comprising approximately 22,000 kilometers of track in North America and Europe. Sole provider of rail network in southern half of Western Australia with approximately 5,500 kilometers of track and operator of approximately 4,800 kilometers of rail in Brazil. Toll Roads Approximately 3,800 kilometers of motorways in Brazil, Peru and India. Diversified Terminals The company’s diversified terminal operations are located primarily in the U.K. and Australia. The company’s U.K. port operation is one of the largest operators in the country by volume and is a statutory harbor authority (‘SHA’) for the port of Tees and Hartlepool in the north of the U.K. The company’s U.K. port’s status as the SHA gives it the right to charge vessel and cargo owners conservancy tariffs (toll-like dues) for the use of the River Tees. At the company’s U.K. port operation, the company’s revenue is generated from port handling services for bulk and container volumes. Furthermore, the company has a freehold land base of approximately 2,400 acres that is strategically located in close proximity to the company’s port. The company’s Australian operations include gateway container terminals in Australia’s four largest container ports, a regional city port, and storage, handling and logistics operations at 48 locations throughout Australia and New Zealand. The container terminal operations handled approximately 3.5 million Twenty-Foot Equivalent Units (‘TEUs’) in 2022, with the storage, handling and logistics businesses handling approximately 21.6 million tonnes of bulk and general cargo, 23.7 million tonnes of forestry products and over 296,000 vehicles. The company’s Australian export terminal comprises inloading, stockyard and outloading facilities that primarily handle metallurgical coal mined in the central Bowen Basin region of Queensland, Australia. The company’s terminal forms an essential component in the global steel production supply chain. The export terminal operation generates revenues under a regulatory regime that provides the company with take-or-pay contracts. These contracts include a capacity charge that is allocated to users based on their contracted capacity and a fixed and variable handling charge associated with operating and maintaining the terminal. The company’s U.S. LNG export terminal is located in Louisiana and is one of the largest LNG facilities in the world. The terminal includes six operational commercial liquefaction trains each capable of producing approximately 5 mtpa of LNG resulting in aggregate nominal production of approximately 30 mtpa of LNG. In addition, the terminal has five LNG storage tanks, two vaporizers, three marine berths and is authorized to export over 1,700 Bcf per year of domestically produced natural gas to countries around the world. Strategic Position The company’s port operations are strategically located. In the U.K., Teesport is a large, deep-water port located in a well-developed industrial area in Northern England. The SHA status, as well as the established infrastructure which includes rail and road access, create barriers to entry for potential competitors. The company’s Australian container port terminals operate under long-term leases, with over 180 hectares of land within the ports of Melbourne, Sydney, Brisbane and Fremantle, the four largest container ports by TEU in Australia. The company’s storage, handling and logistics business benefits from geographic diversification, with operations at 48 sites across Australia and New Zealand. It provides services and integrated logistics solutions to customers from a diverse range of industries across the region, from agriculture, aluminum, automotive, forestry, food and beverage, mining, marine, oil and gas, major retail and resources. The company’s Australian export terminal services the central Bowen Basin, which has high quality, low cost, prolific metallurgical coal deposits. The company has take-or-pay contracts with some of the world’s largest mining companies that operate in the Bowen Basin. The company’s operation is fully contracted until June 2028 with customers having evergreen renewal options. The company’s U.K. and Australian port operations have a number of long-term contracts with established counterparties, including large multinational corporations. The majority of the company’s revenues are derived from customers with significant investment in industrial infrastructure at or within close proximity to these ports. The company’s Australian port operation’s main customers represent major shipping lines who utilize the multiple ports located nationally. The company’s U.S. LNG export terminal is strategically located on the Gulf Coast allowing for convenient ingress and egress for vessels, near large gas production basins and well-connected to midstream transportation infrastructure. It is one of the largest LNG terminals in the world with competitive shipping capacity to Europe, South America and Asia. Existing customers are contracted under long-term take-or-pay agreements, globally diversified, and highly creditworthy. As a critical component of the global LNG supply chain, the company’s terminal enables the export and distribution of a cleaner energy source, which is well-positioned to help displace coal and other high-carbon fossil fuels during the transition to more environmentally sustainable energy sources. Regulatory Environment The company’s U.K. port operation is unregulated, but its status as the SHA for the River Tees provides it with the statutory right to collect conservancy tariffs (toll-like dues) payable by vessel and cargo owners using the river and obligates it to maintain navigability of the waterway. The company’s Australian port operation conducts business in an unregulated environment. The company’s Australian export terminal is regulated by the Queensland Competition Authority (‘QCA’). The company’s U.S. LNG export terminal is regulated by the Federal Energy Regulatory Commission (‘FERC’), as well as the U.S. Department of Energy under the Natural Gas Act of 1938. Growth Opportunities The company’s U.K. port’s flexible, multi-purpose capacity positions it to benefit from numerous growth initiatives. The ongoing expansion of the company’s container handling facilities, in addition to improvements to the company’s quay and rail capacity, have driven new customer contracts for container cargo and bulk commodities and positioned the company’s U.K. port operation to be the main entry point for container cargo destined for the northern England market. In Australia, the company’s port operations are well positioned to capitalize on increasing demand for bulk and general commodities. Rail The company’s North American rail business is consisted of approximately 22,000 kilometers of owned and leased rail infrastructure and over 5,000 kilometers of additional track that the company accesses through various contractual arrangements. This rail infrastructure provides essential transportation infrastructure services predominantly in North America. The company’s North American rail revenues are derived from the haulage of freight based on a per car, per container or per tonne basis. Additional revenue is earned from port terminal railroad operations and industrial switching services. The business also owns the largest rail maritime intermodal operator and the second-largest freight rail provider in the U.K. The company’s Australian rail network is consisted of approximately 5,500 kilometers of below rail track and related infrastructure in the southern half of Western Australia under a long-term lease with the State Government. There are approximately 27 years remaining on this lease and this rail system is a crucial transport link in the region. The company’s Australian rail operation’s revenue is derived from access charges paid by underlying customers, either directly or via the above rail operators. Stability of revenue is underpinned by rail transport being a relatively small yet essential component of the overall value of the commodities and freight transported, as well as the strong contractual framework that exists with underlying customers or the above rail operators. The company’s Brazilian rail operations are part of an integrated system consisted of transshipment terminals, rail, port terminal operations, and approximately 25,000 locomotives and wagons. They provide below and above rail services for approximately 4,800 kilometers of track. The company’s Brazil rail operations are subject to a regulatory framework that establishes productivity standards, volume goals and price caps. There are approximately four years (with an option to renew for 30 years) and 15 years, respectively, remaining on the two rail concession agreements with the local government. Additional revenue is earned by offering complementary services, including inland transshipment terminals and port services, which for the most part, are not subject to any tariff regimes. Strategic Position The company’s North American rail business has global operations that span 43 U.S. states, four Canadian provinces, parts of Europe, and the U.K., in total serving approximately 3,000 customers. The business provides critical first and last mile rail services which connect large Class I railroad operators to their end customers. The company’s North American freight revenue is spread across numerous commodities, with no commodity making up more than 20% of total freight revenue. The company’s Australian rail network is the only freight rail network providing access to the region’s six State Government-owned ports for minerals and grain, as well as interstate intermodal terminals connecting Western Australia with national and global markets. The majority of the company’s customers are leading commodity exporters with the top 10 customers contributing approximately 94% of the operations’ revenue, through long dated track access contracts with approximately 70% fixed revenue. The company’s Brazilian rail operations span nine states and operate in three main corridors serving Brazil’s center-north, center-east and center-southeast regions, including important agricultural and industrial regions in the country. Main sources of revenue are derived from grains, sugar, fertilizer, industrial and steel sectors and are generated from a diversified customer base. Regulatory Environment In the United States, the company’s rail operations are subject to regulation by the United States Surface Transportation Board (‘STB’), the Federal Railroad Administration (‘FRA’), other federal agencies, and some state and local regulatory agencies. The company also own rail operations in Canada and the U.K., which are both subject to regulation by their respective regulatory agencies. The company’s Brazilian rail concessions are governed by Brazil’s transportation regulator, Agência Nacional de Transportes Terrestres (‘ANTT’), which is also responsible for the tariff regime in that country. In addition, the company accesses rail networks controlled by Vale S.A., Brazil’s largest mining company, and other major Brazilian rail players, in arrangements governed by long-term agreements. Growth Opportunities In North America, the company’s strategy includes the acquisition or long-term lease of existing railroads, as well as investment in rail equipment and track infrastructure to increase capacity and grow revenues from new and existing customers. The company’s portfolio of existing railroads provides unique opportunities to make contiguous short line railroad acquisitions, due to a higher number of touchpoints with other railroads. The company’s Australian rail operation is a critical component of the logistics chain in its region and is the backbone of freight transport in Western Australia. Toll Roads The company’s toll road operations are consisted of urban and inter-urban highways in Brazil, Peru and India. The company’s Brazilian operations consist of approximately 3,200 kilometers of inter-urban toll roads, located in the Southeast and South regions of Brazil crossing or connecting the states of São Paulo, Rio de Janeiro, Minas Gerais, Espírito Santo, Parana and Santa Catarina. The company’s Peruvian operations consist of 96 kilometers of existing roads and the greenfield construction of 19 kilometers of new roads, which together form three segments that are key transportation arteries in Lima. The company has signed an agreement to sell its Indian operations that include approximately 515 kilometers of existing roads, which form part of India’s most important national highways. The company’s toll road portfolio operates under long-term concessions with staggered maturities and an average remaining term of approximately 11 years. Strategic Position The company’s toll roads are critical infrastructure for the economies of Brazil, Peru and India. The company’s Brazilian toll roads are part of the inter-urban Brazilian toll road network, whose traffic is a mix of heavy industrial users and cars. The company’s roads are used in the transportation of agricultural, industrial and retail (e-commerce) goods, which represent a significant portion of Brazilian gross domestic product. The company’s Peruvian toll roads are key arteries within Lima’s road network that connect 23 districts and serve as the main access to the city from the north, south and east regions. The company’s Indian toll roads span the country and include some of India’s most important national highways. Regulatory Environment The company’s Brazilian assets are governed by Agência Reguladora de Serviços Públicos Delegados de Transporte do Estado de São Paulo and ANTT, the São Paulo State and Federal regulators, respectively. The concession for the company’s Peruvian toll roads was granted by the Municipalidad Metropolitana de Lima (‘MML’) and is supervised by MML’s municipal arm, Gerencia de Promoción de la Inversión Privada, through Fondo Metropolitano de Inversiones (‘Invermet’). The company’s Indian assets are governed by the National Highways Authority of India, which has been operational for approximately 34 years and has the responsibility to develop, maintain and manage the national highways vested or entrusted to it by the Central Government of India. Midstream segment The company’s Midstream segment is consisted of systems that provide natural gas transmission, gathering and processing, and storage services. The company’s Midstream segment is consisted of approximately 15,000 kilometers of natural gas transmission pipelines in the United States; approximately 10,600 kilometers of pipelines, which include long-haul, conventional and natural gas gathering pipelines in Canada; 17 natural gas and natural gas liquids processing plants, with approximately 5.7 Bcf per day of gross processing capacity in Canada; approximately 600 Bcf of natural gas storage in the United States and Canada; and 525,000 tonnes per year of polypropylene production capacity in Canada. Midstream The company’s midstream operations include approximately 15,000 kilometers of natural gas transmission and pipeline systems in the United States, significant natural gas storage capacity in the United States and Canada, one of the largest long-haul pipeline and natural gas gathering and processing portfolios in western Canada. The company’s U.S. gas pipelines comprise one of the largest natural gas transmission systems in the United States, extending from the Gulf Coast in Texas and Louisiana up to Oklahoma, Chicago, and northern Indiana. The majority of revenues are generated under long-term take-or-pay contracts and the company is well positioned to benefit from forecasted increases in demand for energy security and decarbonization fuels. The company’s Canadian diversified midstream operation consists of seven pipeline systems, four facilities involved in the collection and processing of natural gas liquids, 19 million barrels of storage, and an integrated petrochemical facility. These assets are strategically located and supported by predictable long-term cash flows with highly creditworthy counterparties. The company’s liquids pipelines provide transportation services to key processing hubs and interconnected pipelines under take-or-pay and fee-for-service agreements, which provide stable earnings. The company’s facilities business includes natural gas gathering systems and processing plants, interconnected pipelines and liquids handling in high demand regions. The company’s natural gas storage facilities are designed to reallocate excess natural gas supply from periods of low demand to periods of high demand. The company’s assets are located in key North American natural gas producing and consuming regions providing access to multiple end-use markets. The company’s natural gas gathering and processing operations collect raw natural gas from the company’s customers in the field for aggregation to centralized processing facilities, and remove impurities from the raw gas stream, including water, carbon dioxide and hydrogen sulfide. These activities provide the company’s customers with pipeline quality natural gas and natural gas liquids for sale in downstream markets. The company’s facilities are located in one of the highest producing natural gas regions in western Canada. The company serves its customers through a mix of long-term fee-for-service and take-or-pay contracts. Strategic Position The company’s U.S. gas pipeline system is one of the largest and most geographically extensive natural gas transmission pipeline networks in North America. It is the largest provider of natural gas transmission to the Chicago and northern Indiana markets and has significant interconnectivity with local distribution companies, natural gas liquefaction facilities along the Gulf Coast, industrial users and gas-fired power plants. The system is also well connected to other pipelines accessing additional downstream markets, which increases demand for the company’s transportation and storage services. The company’s Canadian diversified midstream operation is a large-scale diversified infrastructure provider including transportation services, processing facilities, and an integrated petrochemical facility. The company’s long-haul and gathering pipelines are strategically positioned to support customers with transportation of petroleum products from producing sites in the Western Canadian sedimentary basin to key market hubs. The company’s processing facilities collect and process natural gas, natural gas liquids, offgas, and other petrochemical products. They provide critical infrastructure to support the regions they serve, are capable of processing large volumes, and benefit from an integrated design, which results in high volumes of product recoveries for the company’s customers. The company’s integrated petrochemical facility is located in Western Canada and benefits from high volumes of propane production in the region, which supplies feedstock to the complex. The complex is connected to existing rail infrastructure providing transport to end-users in North America. The company operates or contracts for more than 600 Bcf of working gas capacity at the company’s natural gas storage facilities, which are located in the United States and Canada. The company’s Western Canadian natural gas gathering and processing operation has 13 operating facilities that are connected at strategic points on the North American natural gas transmission network with access to multiple end-use markets, which provide the company and its customers with substantial liquidity to buy, sell and store natural gas. The company’s natural gas gathering and processing facilities are ideally situated to serve the Montney shale gas basin in northeast British Columbia (‘B.C.’) and northwest Alberta. The company’s facilities have diverse connectivity to major downstream markets, including the U.S. Pacific Northwest, the U.S. Midwest, B.C. and Alberta through direct connections to long-haul pipelines. These markets are projected to continue exhibiting strong annual demand growth primarily driven by new industrial gas demands, including petrochemical expansions, and previously announced LNG export projects. Regulatory Environment The company’s U.S. gas pipeline system, including its storage operations, and the company’s natural gas storage investment in Texas are regulated by FERC under the Natural Gas Act of 1938. The company’s Canadian pipeline operations and natural gas storage facilities are regulated by the Alberta Energy Regulator and Canadian Energy Regulator, which provide operational and environmental oversight. The company’s California natural gas storage facilities are subject to California Public Utilities Commission oversight and the company’s Oklahoma facility is regulated by the Oklahoma Corporation Commission. The company’s natural gas gathering and processing facilities in B.C. are regulated by the B.C. Oil and Gas Commission, the B.C. Ministry of Environment and the B.C. Utilities Commission and the company’s facilities in Alberta are regulated by the Alberta Energy Regulator. Growth Opportunities The company’s Canadian diversified midstream business is progressing several growth opportunities intended to enhance and complement the company’s existing product offerings. During 2022, the company completed the construction of its petrochemical facility, which is designed to produce 525,000 tonnes of polypropylene used in the manufacturing of a wide range of essential products. The plant will be commissioned in early 2023 and ramp-up production over the first half of the year. Data segment The company’s Data segment is consisted of critical infrastructure servicing customers in the telecommunications, fiber and data storage sectors. The company’s data transmission and distribution operations provide essential services and infrastructure to the media broadcasting and telecom sectors, while the company’s data storage operations provide high-performance physical hosting and infrastructure to enterprises ranging from small workloads to hyperscale deployments, as well as cloud consulting and engineering services. The company’s data transmission and distribution customer base includes large, prominent telecommunications companies in France, the U.K., the U.S., and India, and retail, wholesale and enterprise customers in New Zealand. Within the company’s data storage operations, the company has approximately 700 colocation customers, predominantly in the United States that are diversified across multiple industries, and global hyperscale customers in Asia Pacific and South America. The company’s Data segment is consisted of the following: Data Transmission & Distribution Approximately 207,000 operational telecom towers in India, France, Germany, Austria, the U.K. and New Zealand. Approximately 46,600 kilometers of fiber optic cable located in France, Brazil and New Zealand. Over 70 distributed antenna systems in the U.K. Approximately 881,000 fiber-to-the-premise (‘FTTP’) connections in France and Australia. Two semiconductor manufacturing facilities under construction in the United States. Data Storage 50 data centers, with approximately 1.4 million square feet of raised floors located in five continents. Approximately 230 megawatts of critical load capacity. Data Transmission & Distribution The company’s data transmission and distribution businesses have approximately 207,000 operational telecom towers, 46,600 kilometers of fiber optic cable and two semiconductor manufacturing facilities under construction. In France, the company’s telecommunications business is consisted of approximately 8,000 multi-purpose towers and active rooftop sites and 30,000 kilometers of fiber. The business can be divided into three segments: telecom site hosting, wholesale fiber-to-the-home (‘FTTH’) networks and television and radio broadcasting. The company’s customers pay upfront and/or recurring fees to lease space on the company’s towers to host their equipment, lease capacity on the company’s fiber network to deliver ultra-fast broadband solutions to customers or pay the company fees for transmitting television and radio content to end users. In Germany and Austria, the company has 40,000 multi-purpose towers and active rooftops. The business focuses on developing infrastructure for mobile network operators, broadcasters, and other institutions through their portfolio of towers, masts, rooftop sites, distributed antenna systems and small cells with more than 40% market share. The company’s U.K. telecom towers business is consisted of approximately 2,200 active towers and over 70 distributed antenna systems. The business can be divided into three segments: telecom site hosting and services, indoor networks and fiber. Telecom site hosting is the core business which consists of renting space on the company’s towers to mobile network operators. The indoor networks business deploys active neutral host network solutions using distributed antenna systems in high footfall venues such as shopping malls, stadiums and office blocks. The fiber business has secured two projects where it is contracted to deliver fiber-connected small cell networks for one of the U.K.’s largest test beds for connected autonomous vehicles. The company’s integrated data distribution business in New Zealand provides broadband services to approximately 2.4 million connections and has approximately 1.5 million Internet of Things connections. The service offering is supported by a high-quality nationwide fiber infrastructure network which includes approximately 11,600 kilometers of fiber optic cable. The company’s India telecom towers operation is consisted of a high-quality portfolio of approximately 155,000 well-maintained telecom tower sites and equipment that form the backbone of Reliance Jio, India’s largest cellular network operator’s (‘Jio’) telecom business. The towers were recently constructed and strategically located for pan-India 4G coverage. Jio is an anchor tenant under a 30-year master services agreement. The company intends to construct approximately 19,000 additional towers in 2023. The company’s Australian data distribution business comprises the following business lines, namely: wholesale and infrastructure, which is engaged in the design, installation, operation, maintenance, and wholesale sale of FTTP networks operating mainly in greenfield new housing developments in broadacre residential estates and multiple dwelling units; enterprise, which owns and operates a communications platform as a service (CPaaS) for businesses and wholesale customers which supplies premium voice and text services; and consumer and small business which operates as a reseller of telecommunications services to end customers. The company’s semiconductor manufacturing facilities in the United States consist of two large-scale fabrication foundries in Arizona in partnership with Intel Corporation, one of the largest global semiconductor companies. The facilities are under construction and will manufacture leading-edge semiconductor chips once completed. Strategic Position The company’s telecommunications business in France is the leading independent data infrastructure operator in the country with coverage across the French territories. The company’s coverage and location enable the company to be a leader across all of the segments in which the company operates. In radio, the company is the reference provider for services in France with approximately 80% and 40% market share of public and commercial radio frequencies, respectively. The company’s business participated in the government-led initiative to provide lower population density areas in France with access to ultra-fast broadband through the deployment of FTTH networks. These investments in FTTH networks present a unique opportunity for the company’s business to leverage its existing asset bases and technical expertise from operating a high-speed fiber backbone. After securing four tenders, the company is engaged in the roll out and commercialization of fiber networks to over 730,000 households and businesses across France. The company’s German and Austrian telecom towers operation is one of the largest in Europe with the potential to grow even larger through bolt-on acquisitions of further sites across Eastern Europe. The company’s U.K. telecom towers business owns critical national infrastructure that enables mobile network operators to meet their government mandated coverage obligations. The location of the company’s sites form an integral part of the telecommunication backbone in the U.K. and the company is well-positioned to capture rural growth in data consumption. Additionally, the company’s over 70 distributed antenna systems make the company’s business the market leader in the U.K. for indoor solutions. The company’s integrated data distribution business in New Zealand is a leading mobile service provider in the country. The company’s Indian telecom towers operation has exposure to the growing data consumption trend. The company’s anchor tenant Reliance Jio is the largest mobile network operator in India and is owned and controlled by Reliance Industries Limited, one of the largest companies in the country. The company’s Australian data distribution business is a market-leading constructor, owner and vertically integrated operator of fiber infrastructure and a provider of value-added telecommunications services in identified profitable niche markets. The business is the largest privately owned FTTP infrastructure owner and operator in Australia. The business constructs, owns and operates the fiber infrastructure for property developers, property owners and/or building managers and seeks to build this infrastructure across all property asset classes with a focus on greenfield property developments. The company’s semiconductor manufacturing facilities in the United States will produce leading-edge semiconductor chips, which will serve as the digital backbone of the global economy. The company’s semiconductor facilities will be jointly owned and funded with Intel Corporation and be a part of Intel’s integrated Ocotillo manufacturing campus in the state of Arizona, which covers approximately 700 acres, making it one of the largest chip manufacturing sites in the world. The company’s U.S. fiber business will leverage the company’s experience as a global developer and operator of best-in-class data transmission and distribution infrastructure to identify attractive markets and efficiently develop open access fiber networks while minimizing construction and operating risk. The company has signed its first wholesale access agreement with an internet service provider (‘ISP’), which will serve as the anchor tenant for commercialization of the network in the initial markets. Regulatory Environment The company’s Indian telecom towers operation is regulated by the Department of Telecommunication (‘DoT’), which grants IP-I registration to domestic telecom infrastructure providers. Growth Opportunities The company sees growth opportunities in the French telecommunications business as mobile network operators are expected to increase the coverage and capacity of their networks to support four main trends: growing wireless data usage, next evolution of wireless standards, increased mobile network operator competition through network quality and reliability, and minimum spectrum license coverage obligations. In Germany and Austria, the company intends to construct approximately 8,700 additional sites through to 2030 to meet demand in one of the fastest growing tower markets in Europe. The company’s Indian telecom towers operation has committed arrangements to construct an additional 19,000 towers over the next year, which are supported by the company’s anchor tenant Reliance Jio. The company has contractual arrangements with all 4 MNOs (mobile network operators) in India. The company’s strategic relationship with Reliance Jio and pan India presence of the company’s towers will enable the company to bring in more colocations from other leading MNOs of the country. The company’s Australian data distribution business has completed delivery to 290,000 premises with a contracted book of a further 344,000 premises, in addition to future dwellings still to be planned and built. Data Storage The company’s data storage operations provide colocation services and cloud hosting capacity, offering customers secure and reliable space and power within the company’s portfolio of data centers for their essential information technology infrastructure needs. The company’s data center portfolio is consisted of 50 data centers, with approximately 1.4 million square feet of raised floors, and 230 MWs of critical load capacity. Strategic Position The company’s North American data storage business is a carrier neutral colocation provider in the United States with operations in most major cities. The company’s facilities provide best-in-class connectivity options, catering to retail colocation, enterprise and hyperscale customers. The company’s Asia Pacific data storage business is an owner and operator of three data center facilities in Australia. The company’s South American data storage business is based in Brazil and is the leading data center infrastructure company in Latin America. All of the company’s South American data centers are connected, within each respective country, by a wide-ranging and dedicated fiber-optic network, which is designed to ensure high capacity connections between the company’s sites and the main cloud providers worldwide. In India, the company has entered into a partnership with Digital Realty for the development of a high quality hyperscale data center platform. The company has acquired its first land parcel in India with capacity of 102MW and has commenced construction of first phase of 20MW. Growth Opportunities The company sees both in-market expansions and acquisitions as growth opportunities for the company’s data storage businesses. The company recently secured an investment in a data center construction project in the Netherlands with a planned capacity of approximately 100MW upon completion. The project is expected to provide a sustainable alternative to traditional data centers, using exclusively renewable power and recycling the waste heat produced by operations. Intellectual Property The company’s partnership and Brookfield Infrastructure L.P. have each entered into a Licensing Agreement with Brookfield pursuant to which Brookfield has granted a non-exclusive, royalty-free license to use the name ‘Brookfield’ and the Brookfield logo. Other than under this limited license, the company does not have a legal right to the ‘Brookfield’ name and the Brookfield logo in the United States and Canada. History Brookfield Infrastructure Partners L.P., a Bermuda exempted limited partnership, was founded in 2007 under the provisions of the Exempted Partnership Act, 1992 of Bermuda (Bermuda Exempted Partnerships Act) and the Bermuda Limited Partnership Act of 1883 (Bermuda Limited Partnership Act). The company was incorporated in 2007.