HICL Infrastructure Regulatory News (HICL)

26 March 2018

HICL Infrastructure Company Limited

Incremental Investment

HICL Infrastructure Company Limited ("HICL"), the listed infrastructure investment company advised by InfraRed Capital Partners Limited ("InfraRed"), is pleased to announce that it has acquired an incremental 45% interest in the Priority Schools Building Programme North East Batch Project (the "Project") from Galliford Try plc ("Galliford Try"). The consideration of approximately £9m was funded from HICL's revolving credit facility. As a result of this transaction, HICL now holds a 90% interest in the Project.

The Project is a 25-year availability-based public-private partnership ("PPP") to design, build, finance and maintain six secondary schools and six primary schools in the northeast of England. Financial close was in March 2015 and the facilities are now fully operational. The Project is part of the wider Priority Schools Building Programme, a central government initiative set up to address the schools most in need of urgent repair. Hard FM services, as well as lifecycle replacement for the buildings' fabric and certain furniture, fittings and equipment, are being provided by a subsidiary of Galliford Try.

As a PPP, the Project fits within a core target market segment within HICL's stated acquisition strategy. This investment is accretive to the existing portfolio and was sourced through InfraRed's long-standing relationship with Galliford Try.

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Enquiries

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

Harry Seekings

Keith PickardKirsty MacCallum

Tulchan Communications +44 (0) 20 7353 4200

Latika Shah

David Allchurch

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 116 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 130 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 approximately 70 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.