HICL Infrastructure Regulatory News (HICL)

14 January 2016

HICL Infrastructure Company Limited

Acquisition of an incremental investment

HICL Infrastructure Company Limited, the listed infrastructure investment company advised by InfraRed Capital Partners Limited, is pleased to announce the acquisition of a further 12.5% interest in the Southmead Hospital PFI Project (the "Project") from funds managed by Aberdeen Asset Management Group for a consideration of £25.3m. As a consequence of the acquisition, HICL now holds a 62.5% interest in the Project.

The Project is a £430m, 35 year concession to design, build, finance, operate and maintain an 800-bed acute hospital on a single site at Southmead in North Bristol, on behalf of the North Bristol NHS Trust. Construction is being undertaken by Carillion Construction Limited in two distinct phases. The first phase, comprising the construction of a 102,000m2 new acute hospital, the Brunel Building, was completed in March 2014, with the hospital open for use and fully operational since May 2014. The second phase, which includes the demolition of the old hospital site, is due for completion in May 2016. The provision of hard facilities management services during the operational phase of the Project is subcontracted to Carillion Services Limited under a concession life contract.

This incremental acquisition forms part of the pipeline of anticipated investment opportunities referred to in the Company's announcement of the result of its tap issue in December 2015 (the "Issue"). The acquisition was funded from proceeds raised pursuant to the Issue, and the price paid for the Project is in line with the current valuation of similar UK infrastructure projects in the Group's portfolio. Following the acquisition, the Group has a net funding requirement of approximately £3m.

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Enquiries

InfraRed Capital Partners Limited +44 (0) 20 7484 1800

Tony Roper

Keith Pickard

Laurence Richardson

Harry Seekings

Tulchan Communications +44 (0) 20 7353 4200

Chris Hughes

Latika Shah

Canaccord Genuity Limited +44 (0) 20 7523 8000

Dominic Waters

Neil Brierley

Will Barnett

David Yovichic

HICL Infrastructure Company Limited

HICL Infrastructure Company Limited ("HICL" or the "Company", and together with its subsidiaries the "Group") is a long term investor in infrastructure projects which are predominantly in their operating phase and yielding steady returns. It was the first infrastructure investment company to be listed on the London Stock Exchange. With a current portfolio of 102 social and transportation infrastructure investments with predominantly availability-based income streams, it is seeking further suitable investment opportunities which fit its stated Investment Strategy.

Further details can be found on the HICL website, www.hicl.com.

Investment Adviser

The Investment Adviser to HICL is InfraRed Capital Partners Limited ("InfraRed") which has successfully invested in over 160 infrastructure projects since 1997. InfraRed is a leading international investment manager focused on infrastructure and real estate. It operates worldwide from offices in London, Hong Kong, New York, Paris, Seoul and Sydney. With over 100 professionals it manages in excess of USD 8bn of equity capital in multiple private and listed funds, primarily for institutional investors across the globe. InfraRed is authorised and regulated by the Financial Conduct Authority.

The infrastructure investment team at InfraRed consists of over 50 investment professionals, all with an infrastructure investment background and a broad range of relevant skills, including private equity, structured finance, construction, renewable energy and facilities management.

Further details can be found on InfraRed's website, www.ircp.com.