Incremental Investment

3 April 2017

HICL Infrastructure Company Limited

Incremental Investment

HICL Infrastructure Company Limited ("HICL" or the "Company"), the listed infrastructure investment company advised by InfraRed Capital Partners Limited, is pleased to announce the completion of an incremental investment of £7.5m in the Medium Support Helicopter Aircrew Training Facility project.

HICL has invested £7.5m by way of an RPI-linked note to fund an upgrade in the visual systems in the simulators, keeping the facility at the leading edge of technology and capability. The improvements will ensure that the military personnel who use the simulators are able to receive the best possible training. The upgrade to the visual system is being carried out by CAE Inc., which is the partner on the project.

The investment by the HICL Group was funded through cash resources arising from the Company's recent equity fundraising.

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Enquiries

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

Tony RoperKeith PickardHarry Seekings

Tulchan Communications +44 (0) 20 7353 4200

David AllchurchLatika Shah

Canaccord Genuity Limited +44 (0) 20 7523 8000

Dominic WatersNeil BrierleyWill BarnettDavid 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 114 infrastructure investments, HICL is seeking further suitable opportunities, which are positioned at the lower end of the risk spectrum, in three target markets segments: PPPs; regulated assets; and demand-based assets.

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 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.

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