HICL Infrastructure Regulatory News (HICL)

5 November 2018

HICL Infrastructure Company Limited

Completion of Disposal

HICL Infrastructure Company Limited ("HICL" or the "Company" and, together with its subsidiaries, the "Group"), the listed infrastructure investment company advised by InfraRed Capital Partners Limited ("InfraRed") is pleased to announce that the Group has completed the sale of its 9.7% interest in the AquaSure Desalination PPP Project ("AquaSure") to AMP Capital and UniSuper.

The Company had previously communicated to investors on 29 August 2018 that it had entered into an agreement to sell its interest, subject to third-party consents. This transaction has now completed following the receipt of those consents and the consideration of AUD$161m.

The Company will use the proceeds to reduce the balance on its revolving credit facility ("RCF") allowing for further accretive investments to be made by the Group. Following completion of the disposal, drawings on the RCF are forecast to be in the region of £70m.

Harry Seekings, Director at InfraRed said:

"InfraRed is delighted to have completed the disposal of HICL's interest in AquaSure at an attractive price that enhances shareholder value. This transaction reflects InfraRed's ability both to source attractive opportunities and to take advantage of favourable market conditions.

"The purchasers are existing shareholders in the project. They therefore bring familiarity and provide continuity to the project."

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Enquiries

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

Harry SeekingsKeith Pickard

Tulchan Communications +44 (0) 20 7353 4200

David Allchurch

Toby Bates

Canaccord Genuity Limited +44 (0) 20 7523 8000

David Yovichic

HICL Infrastructure Company Limited

HICL Infrastructure Company Limited ("HICL" or the "Company", and together with its subsidiaries the "HICL Group") is a long-term investor in infrastructure assets which are predominantly operational and yielding steady returns. It was the first infrastructure investment company to be listed on the London Stock Exchange.

With a current portfolio of 117 infrastructure investments, HICL is seeking further suitable opportunities, which are positioned at the lower end of the risk spectrum, in three target markets segments: PPP projects; regulated assets; and demand-based assets.

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

Investment Adviser (InfraRed Capital Partners)

The Investment Adviser to HICL is InfraRed Capital Partners Limited ("InfraRed") which has successfully invested in over 200 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, Seoul and Sydney. With over 140 professionals it manages in excess of US$10bn 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 75 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.

InfraRed implements best-in-class practices to underpin asset management and investment decisions, promotes ethical behaviour and has established community engagement initiatives to support good causes in the wider community. InfraRed is a signatory of the Principles of Responsible Investment.

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