HICL Infrastructure Regulatory News (HICL)

26 July 2017

HICL Infrastructure Company Limited

Preferred Bidder Announcement

HICL Infrastructure Company Limited ("HICL" or "the Company"), the listed infrastructure investment company advised by InfraRed Capital Partners Limited, is pleased to announce that Diamond Transmission Partners, a consortium comprising the Company and Diamond Transmission Corporation Limited (a subsidiary of Mitsubishi Corporation), has been selected by Ofgem as the preferred bidder to own and operate the offshore transmission link to the Burbo Bank Extension windfarm ("Burbo Bank OFTO").

Under the offshore transmission owner ("OFTO") regime, the OFTO takes ownership of an operational transmission asset and receives contractual, availability-based revenues over a 20-year period. The OFTO does not have exposure to construction risk, electricity production or power price risk. HICL has also partnered with Diamond Transmission Corporation Limited to participate in phase one of Tender Round 5, which comprises three further bids for OFTO assets.

The consideration for HICL's 50% share of the interest in Burbo Bank OFTO is expected to be up to £13m. Completion of the acquisition is expected in early 2018.

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Enquiries

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

Harry Seekings

Keith Pickard

Tony Roper

Tulchan Communications +44 (0) 20 7353 4200

David Allchurch

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 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 116 social and transportation infrastructure investments in projects 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 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 120 professionals it manages in excess of USD 9bn 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 60 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.