Issue of Ordinary Shares

HICL Infrastructure Company Limited

Issue of Ordinary Shares

9 December 2015

Further to its announcement of 7 December 2015, the Board of HICL Infrastructure Company Limited (the "Company") is pleased to announce that the Company has raised gross proceeds of £51.04m through the issue for cash, subject to listing, of 34,024,766 Ordinary Shares of 0.01 pence each (the "New Ordinary Shares") in the Company (the "Issue"). The Issue Price per New Ordinary Share was 150.0 pence. In light of the Company's current investment pipeline, the Board determined to increase the size of the Issue from its initial target size of approximately £30m.

Following the Issue, the Company retains the authority to issue a further 32,749,696 Ordinary Shares by way of tap on a non pre-emptive basis. It is the intention of the Board to utilise that authority as and when the Directors deem appropriate, having regard for additional investments which it is anticipated will be made in due course, as well as the Company's net funding requirement at the time.

Application has been made for the New Ordinary Shares to be admitted to the premium segment of the Official List and to trading on the Main Market of the London Stock Exchange. It is expected that dealings in the New Ordinary Shares will commence at 8.00 a.m. on 11 December 2015.

Following the issue of the New Ordinary Shares, the total number of voting rights in the Company will be 1,363,805,345. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company under the FCA's Disclosure and Transparency Rules.

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