2019 Second Half Year Dividend

9 April 2020

2019 Second Half Year Dividend

The Board of International Public Partnerships Limited ("INPP", the "Company"), the FTSE 250 listed infrastructure investment company, declares a distribution covering the period:

The 2019 second half year distribution of 3.59 pence per share is in line with the target previously outlined by the Directors and, as per previous periods, has been entirely funded through operating cash flow from the underlying projects.

2020 and 2021 Full Year Distributions

The Board of Directors reaffirms that it has established a target for 2020 of 7.36 pence per share and announces a 2021 target distribution of 7.55 pence per share, providing additional guidance to investors as to the Company's future intentions and the overall continued performance of its portfolio. The targeted payments would represent a c.2.5% increase on the preceding distributions and would continue to be in line with the growth target indicated at the time of INPP's IPO in 2006. Whilst we currently have good forward-visibility of cash flows generated by the Company's investments given their predictability, we continue to monitor the current Covid-19 related uncertainty.

Scrip Dividend Alternative

The Board intend to offer a scrip dividend alternative for this distribution to those eligible INPP investors who wish to receive additional INPP securities in lieu of a cash payment. This offer is subject to the average of the middle market prices of the Company's shares derived from the Daily Official List of the London Stock Exchange for the Ex-Dividend Date and the four subsequent dealing days being at a premium to the last published NAV calculated on a per share basis. In line with prior dividends, the Company has implemented an online process, reducing the need for paperwork and allowing eligible INPP shareholders access to a web-based service to elect the scrip dividend alternative. Details will be sent to all eligible INPP shareholders on the register as at the record date for the dividend being 24 April 2020 with the scrip dividend circular being mailed on or about 8 May 2020, the terms of the scrip dividend alternative will also be available on the INPP website. Shareholders wishing to access the web-based service and receive electronic communications from the Company can do so at www.signalshares.com.

Note: The above distribution guidance is provided by the Company in consultation with its Investment Adviser as a target only and is not a profit forecast. There can be no assurance that this target will be met or that the Company will make any distributions whatsoever. The times and dates in this announcement are expected times and dates only and are subject to change. The Board will continue to review whether scrip dividends are appropriate for future dividends. Any such changes will be notified to shareholders through a regulatory information service.

Enquiries:

About International Public Partnerships ('INPP'):

INPP is a listed infrastructure investment company that invests in global public infrastructure projects and businesses, which meets societal and environmental needs, both now, and into the future.

INPP is a responsible, long-term investor in 130 infrastructure projects and businesses. The portfolio consists of utility and transmission, transport, education, health, justice and digital infrastructure projects and businesses, in the UK, Europe, Australia and North America. INPP seeks to provide its shareholders with both a long-term yield and capital growth.

Amber Infrastructure Group ('Amber') is the Investment Adviser to INPP and consists of approximately 130 staff who are responsible for the management of, advice on and origination of infrastructure investments.

Visit the INPP website at www.internationalpublicpartnerships.com for more information.