HICL Infrastructure Regulatory News (HICL)

27 April 2018

HICL Infrastructure Company Limited

New Investments

HICL Infrastructure Company Limited ("HICL" and, together with its subsidiaries, the "HICL Group"), the listed infrastructure investment company advised by InfraRed Capital Partners Limited, is pleased to announce the completion of two investments:

1) Diamond Transmission Partners BBE Limited ("DTP"), in which the HICL Group holds a 50 % interest, will acquire the transmission assets associated with the Burbo Bank Extension Windfarm located in Liverpool Bay on 27 April 2018. The transaction is part of Tender Round 4 of Ofgem's Offshore Transmission Owner ("OFTO") programme. HICL announced its status as preferred bidder for the OFTO in July 2017, alongside its partner, Diamond Transmission Corporation (a subsidiary of the Mitsubishi Corporation).

Under the OFTO regime, DTP takes ownership of the operational transmission asset and receives contractual, availability-based revenues over a 20-year period. DTP does not have exposure to construction risk, electricity production or power price risk. RES (Renewable Energy Systems) will provide certain operations and maintenance services for DTP under a long-term subcontract.

2) HICL's existing joint venture company with Kajima Partnerships Limited, in which the HICL Group holds a 75% interest, has acquired the Belfast Metropolitan College PFI Project (the "Project") from the Titanic Property Development Group.

The Project is a 27-year PPP project that involves the design, construction, financing, maintenance and operation of a further and higher education college and associated basement car park. The Project was signed in April 2009 and has been fully operational since August 2011. Soft and hard facilities management services are undertaken by Amey Community Limited under a subcontract for the remaining life of the concession.

The HICL Group's total investment in the two acquisitions was £16.3m, which was funded from HICL's cash resources. The investments formed part of HICL's planned funding commitments and therefore were included within the forecast drawings on the Revolving Credit Facility, as announced in February 2018, of approximately £130m at 31 March 2018.

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Enquiries

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

Harry Seekings

Keith Pickard

Tulchan Communications +44 (0) 20 7353 4200

Latika Shah

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 119 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.