Exhibit 99.1

EXECUTION VERSION

ARRANGEMENT AGREEMENT

AMONG

BROOKFIELD INFRASTRUCTURE PARTNERS INC.

and

BROOKFIELD INFRASTRUCTURE PARTNERS L.P.

and

BROOKFIELD INFRASTRUCTURE CORPORATION

JULY 21, 2026

TABLE OF CONTENTS

Page

TABLE OF CONTENTS
(continued)

Page

ARRANGEMENT AGREEMENT

This Arrangement Agreement made as of the 21^st day of July, 2026,

A M O N G:

BROOKFIELD INFRASTRUCTURE PARTNERS INC., a corporation existing under the laws of British Columbia,

(hereinafter referred to as “BIP Inc.”)

- and -

BROOKFIELD INFRASTRUCTURE PARTNERS L.P., an exempted limited partnership existing under the laws of Bermuda,

(hereinafter referred to as “BIP”)

- and -

BROOKFIELD INFRASTRUCTURE CORPORATION, a corporation existing under the laws of British Columbia,

(hereinafter referred to as “BIPC”)

WHEREAS BIP Inc., BIP, and BIPC wish to complete the Arrangement (as defined herein) to, among other things, deliver additional benefits to BIP Unitholders and BIPC Shareholders (each as defined herein) by holding their investments in the business of BIP and BIPC, including each of their Subsidiaries (as defined herein), through BIP Inc., a newly formed corporation;

AND WHEREAS the BIP Board (as defined herein) has reviewed the terms and conditions of the Arrangement, and on the unanimous recommendation of the BIP Special Committee (as defined herein), whose recommendation came after reviewing and considering an opinion of Scotia Capital Inc. to the effect that, as of the date of such opinion, the consideration to be received by the Minority Unitholders (as defined herein) pursuant to the Arrangement is fair, from a financial point of view, to such holders, and other considerations related to the Arrangement, has determined that the Arrangement is in the best interests of BIP;

AND WHEREAS the BIPC Board (as defined herein) has reviewed the terms and conditions of the Arrangement, and on the unanimous recommendation of the BIPC Special Committee, whose recommendation came after reviewing and considering an opinion of Scotia Capital Inc. to the effect that, as of the date of such opinion, the consideration to be received by the holders of BIPC Shares (as defined herein) pursuant to the Arrangement is fair, from a financial point of view, to such holders, and other considerations related to the Arrangement, has determined that the Arrangement is in the best interests of BIPC;

NOW THEREFORE THIS AGREEMENT WITNESSES that, in consideration of the mutual covenants and agreements hereinafter set forth and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by each Party, the Parties hereby covenant and agree as follows:

Article 1
INTERPRETATION

In this Agreement, including the recitals hereto, other than the schedules and unless there is something in the subject matter or context inconsistent therewith, the following capitalized words and terms shall have the following meanings:

“Agreement” means this arrangement agreement, including the schedules attached hereto, as supplemented or amended from time to time.

“Applicable Law” means in respect of any Person: (i) any applicable domestic or foreign law including any statute, subordinate legislation or treaty; and (ii) any applicable guideline, directive, rule, standard, requirement, policy, order, judgment, injunction, award or decree of a Governmental Entity having the force of law.

“Arrangement” means the arrangement under Section 288 of the BCBCA in accordance with the terms and subject to the conditions set out in the Plan of Arrangement, subject to any amendments, modifications or supplements to the Plan of Arrangement made in accordance with this Agreement and Section 6.1 of the Plan of Arrangement or made at the discretion of the Court with the consent of BIP and, if applicable, BIPC, each acting reasonably.

“BCBCA” means the Business Corporations Act (British Columbia).

“BIP Arrangement Resolution” means the resolution approving the transactions contemplated by the Plan of Arrangement.

“BIP Board” means the board of directors of the BIP General Partner, in its capacity as general partner of BIP, as constituted from time to time.

“BIP Class A Preferred Units” means the Class A Preferred Limited Partnership Units in the capital of BIP, issuable in series.

“BIP General Partner” means Brookfield Infrastructure Partners Limited.

“BIP Inc. Class A Shares” means the class A subordinate voting shares in the capital of BIP Inc.

“BIP Inc. Class B Shares” means the class B multiple voting shares in the capital of BIP Inc.

“BIP Inc. Class I Shares” means the class I non-voting incentive shares in the capital of BIP Inc.

“BIP LPA” means the amended and restated limited partnership agreement of BIP dated as of February 16, 2018, as amended, including, where applicable, pursuant to the BIP LPA Amendment.

“BIP LPA Amendment” means the amendment to the BIP LPA in the form attached as Schedule A to the Plan of Arrangement.

“BIP LPA Amendment Resolution” means the resolution approving the BIP LPA Amendment.

“BIP Resolutions” means, collectively, the BIP LPA Amendment Resolution and the BIP Arrangement Resolution to be considered at the BIP Unitholders’ Meeting by BIP Unitholders, each substantially in the form of Schedule B attached hereto.

“BIP Special Committee” means the Special Committee of directors of the BIP General Partner established in connection with the Arrangement.

“BIP Unitholders” means the holders of the BIP Units.

“BIP Unitholders’ Meeting” means such meeting or meetings of BIP Unitholders, including any adjournment or postponement thereof, convened to consider, and, if deemed advisable approve, the BIP Resolutions.

“BIP Units” means the non-voting limited partnership units in the capital of BIP, other than the BIP Class A Preferred Units.

“BIPC Board” means the board of directors of BIPC, as constituted from time to time.

“BIPC Class B Shareholder” means Brookfield Infrastructure Holdings (Canada) Inc., as the holder of the BIPC Class B Shares.

“BIPC Class B Shares” means the class B multiple voting shares in the capital of BIPC.

“BIPC Resolution” means the resolution approving the transactions contemplated by the Plan of Arrangement to be considered at the BIPC Shareholders’ Meeting by BIPC Shareholders and the BIPC Class B Shareholder, substantially in the form of Schedule C attached hereto.

“BIPC Shareholders” means the holders of BIPC Shares.

“BIPC Shareholders’ Meeting” means such meeting or meetings of the BIPC Class B Shareholder and the BIPC Shareholders, including any adjournment or postponement thereof, convened to consider, and if deemed advisable approve, the BIPC Resolution.

“BIPC Shares” means the class A exchangeable subordinate voting shares in the capital of BIPC.

“BIPC Special Committee” means the Special Committee of directors of BIPC established in connection with the Arrangement.

“Business Day” means any day of the week, other than a Saturday or Sunday or a statutory or civic holiday observed in Toronto, Ontario, Vancouver, British Columbia, New York, New York or Hamilton, Bermuda.

“Circular” means the joint management information circular of BIP and BIPC, including all appendices and schedules thereto, and any information incorporated by reference therein, to be sent to the BIP Unitholders, BIPC Shareholders and the BIPC Class B Shareholder in connection with the Meetings, as amended, supplemented or otherwise modified from time to time in accordance with this Agreement.

“Court” means the Supreme Court of British Columbia.

“Dissent Rights” means the right of a registered BIP Unitholder and/or registered BIPC Shareholder to dissent with respect to their BIP Units and/or BIPC Shares, as applicable, pursuant to and in the manner set forth in Section 7.6 of the BIP LPA Amendment and Division 2 of Part 8 of the BCBCA, respectively, as modified by Article 4 of the Plan of Arrangement, the Interim Order, the Final Order and any other order of the Court, in connection with the Arrangement.

“Effective Date” means the date upon which the Arrangement becomes effective, being the date BIP Inc., BIP and, if applicable, BIPC, agree upon, acting reasonably, as the effective date of the Arrangement following the satisfaction or waiver of the applicable conditions precedent to the completion of the Arrangement, including the granting of the Final Order.

“Effective Time” means 12:01 a.m. (Vancouver Time) on the Effective Date, or such other time as may be agreed to in writing by BIP Inc., BIP and, if applicable, BIPC, prior to the Effective Date.

“Encumbrance” means any mortgage, charge, pledge, lien, hypothec, security interest, encumbrance, adverse claim or right of any third party to acquire or restrict the use of property.

“Final Order” means the final order of the Court pursuant to Section 291 of the BCBCA, in form and substance satisfactory to BIP and, if applicable, BIPC, each acting reasonably, approving the Arrangement, as such order may be amended, modified, supplemented or varied by the Court (with the consent of BIP and, if applicable, BIPC, each acting reasonably) at any time prior to the Effective Date or, if appealed, then, unless such appeal is withdrawn, abandoned or denied, as affirmed or as amended (provided that any such amendment is acceptable to BIP and, if applicable, BIPC, each acting reasonably) on appeal.

“Governmental Entity” means (a) any multinational, federal, provincial, state, regional, municipal, local or other government, governmental or public department, central bank, court, tribunal, arbitral body, commission, commissioner, board, bureau or agency, domestic or foreign; (b) any subdivision, agent, commission, commissioner, board, or authority of any of the foregoing; (c) any self-regulatory authority, including the TSX and the NYSE; or (d) any quasi-governmental or private body exercising any regulatory, expropriation or taxing authority under or for the account of any of the foregoing.

“Interim Order” means an interim order of the Court pursuant to Section 291 of the BCBCA, in form and substance acceptable to BIP and BIPC, each acting reasonably, containing declarations and directions in respect of the notice to be given and the conduct of the BIP Unitholders’ Meeting and the BIPC Shareholders’ Meeting with respect to the Arrangement, as such order may be amended, modified, supplemented or varied by the Court with the consent of BIP and BIPC, each acting reasonably.

“Meeting Materials” means the notice of meeting, the Circular and the form of proxy in respect of each of the Meetings which accompanies the Circular.

“Meetings” means, collectively, the BIP Unitholders’ Meeting and the BIPC Shareholders’ Meeting and “Meeting” means any one of them, as the context requires.

“MI 61-101” means Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions.

“Minority Unitholders” means the holders of BIP Units other than Brookfield Corporation and its direct or indirect Subsidiaries or affiliates and any other Person who holds BIP Units in respect of which votes are required to be excluded under Section 8.1(2) of MI 61-101 for the purposes of determining minority approval for the Arrangement.

“NYSE” means the New York Stock Exchange.

“Parties” means BIP Inc., BIP and BIPC, and “Party” means any one of them.

“Person” includes an individual, partnership, association, body corporate, joint venture, business organization, trustee, executor, administrator, legal representative, government (including any Governmental Entity) or any other entity, whether or not having legal status.

“Plan of Arrangement” means the plan of arrangement proposed under Section 288 of the BCBCA, attached as Schedule A hereto, as amended, varied or supplemented in accordance with the terms thereof, the terms of this Agreement or made at the discretion of the Court in the Final Order.

“Representatives” means, collectively, the directors, officers, employees and agents of a Party at any time and their respective heirs, executors, administrators and other legal representatives.

“Subsidiary” has the meaning given to such term in the BCBCA.

“Transaction Costs” means all fees, costs and expenses incurred directly in connection with the Arrangement, including advisory and other professional expenses and printing and mailing costs associated with the Meeting Materials.

“TSX” means the Toronto Stock Exchange.

“U.S. Securities Act” means the United States Securities Act of 1933, as amended, and the rules and regulations promulgated from time to time thereunder.

In this Agreement, unless otherwise expressly stated or the context otherwise requires:

The following schedules are attached to this Agreement and form a part hereof:

Schedule A – Plan of Arrangement

Schedule B – BIP Resolutions

Schedule C – BIPC Resolution

Article 2
THE ARRANGEMENT

Each of the Parties agrees that the Arrangement will be implemented in accordance with and subject to the terms and conditions contained in this Agreement and on the terms set forth in the Plan of Arrangement.

The Arrangement will become effective on the Effective Date and, commencing at the Effective Time, the steps to be carried out pursuant to the Arrangement will become effective in the order and at the times set out in the Plan of Arrangement without any further act or formality, except as contemplated in the Plan of Arrangement.

BIP, BIPC and BIP Inc. shall apply to the Court pursuant to Section 291 of the BCBCA for the Interim Order as follows:

Subject to the terms of this Agreement and the receipt of the Interim Order:

Subject to the rights of termination contained in Section 6.3, upon the BIP Unitholders approving the Arrangement as set out in the Interim Order, the BIPC Shareholders’ Meeting having been held, the receipt of the Final Order and the satisfaction (or waiver, if applicable) of the other conditions herein contained in favour of each of the Parties, the Parties covenant and agree to, on a date and at a time to be determined exclusively by BIP, file with the registrar any and all documents (including any documents required pursuant to Section 292 of the BCBCA and such other documents as may be required to give effect to the Arrangement pursuant to Division 5 of Part 9 of the BCBCA) and to exchange (to the extent not previously exchanged) such other documents as may be necessary or desirable to give effect to the Arrangement and implement the Plan of Arrangement on such date. The closing of the Arrangement will take place through the electronic exchange of documents effective at the Effective Time on the Effective Date, or at such other time and place as may be agreed to by the Parties, whereupon at the Effective Time on the Effective Date, the transactions comprising the Arrangement will be deemed to occur in the order and at the times set out in the Plan of Arrangement without any further act or formality. From and after the Effective Time, the Plan of Arrangement will have all of the effects provided by Applicable Law, including the BCBCA.

“This Order shall serve as the basis for reliance on the exemption provided by Section 3(a)(10) of the United States Securities Act of 1933, as amended (the “Act”), from the registration requirements otherwise imposed by that Act, regarding the distribution of the BIP Inc. Class A Shares pursuant to the Plan of Arrangement.”; and

Article 3
REPRESENTATIONS AND WARRANTIES

Each Party represents and warrants to each of the other Parties as follows and acknowledges that the other Parties are relying on such representations and warranties in connection with entering into this Agreement and consummating the Arrangement:

BIP Inc. represents and warrants to each of the other Parties as follows and acknowledges that the other Parties are relying on such representations and warranties in connection with entering into this Agreement and consummating the Arrangement:

The representations and warranties of each Party contained in this Agreement will not survive the completion of the Arrangement and will expire and be terminated on the earlier of the Effective Time and the date on which this Agreement is terminated in accordance with its terms.

Article 4
COVENANTS

Subject to the terms of this Agreement, each Party will:

Article 5
CONDITIONS

The obligation of each Party to complete the transactions contemplated by this Agreement is subject to the satisfaction, at or prior to the Effective Time, of each of the following conditions precedent, each of which may be waived, in whole or in part, by the applicable Party without prejudice to its right to rely on any other condition in its favour:

The conditions contained in this Section 5.1 may be waived, in whole or in part, by any Party at any time. Such conditions will not give rise to or create any duty on the part of any other Party or its board of directors or board of the general partner, as applicable, to waive or not to waive such conditions and will not in any way limit such Party’s right to terminate this Agreement as set forth in Section 6.3 or alter the consequences of any such termination from those specified in Section 6.4. Any determination made by any Party prior to the Arrangement concerning the satisfaction and waiver of any or all of the conditions set forth in this Section 5.1 will be final and conclusive.

The obligation of each Party to complete the transactions contemplated by this Agreement is further subject to the conditions (which may be waived, in whole or in part, by such Party without prejudice to its right to rely on any other condition in its favour) that (i) the covenants of each other Party to be performed on or before the Effective Date pursuant to the terms of this Agreement will have been duly performed in all material respects; and (ii) except as set forth in this Agreement, the representations and warranties of each other Party will be true and correct in all material respects as at the Effective Date as though made at the Effective Time, with the same effect as if such representations and warranties had been made at, and as of, such time.

The conditions set out in Section 5.1 and Section 5.2 will be conclusively deemed to have been satisfied or waived, as applicable, on the Effective Date.

Article 6
AMENDMENT AND TERMINATION

Subject to the provisions of the Interim Order, the Final Order, the Plan of Arrangement and Applicable Law, this Agreement may, at any time and from time to time before or after the holding of the Meetings but not later than the Effective Time, be amended, modified or supplemented by written agreement of the Parties, without further notice to or authorization on the part of the BIP Unitholders, the BIPC Shareholders or the BIPC Class B Shareholder. The Plan of Arrangement may be amended in accordance with Section 6.1 thereof.

This Agreement shall be effective from the date hereof until the earlier of the Effective Time and the termination of this Agreement in accordance with its terms.

Upon the termination of this Agreement pursuant to Section 6.3 hereof, no Party will have any liability or further obligation to the other Parties or any other Person.

None of the covenants of BIP or BIPC contained herein shall prevent the BIP Board or the BIPC Board, as the case may be, from:

Article 7
GENERAL

Except as otherwise agreed, BIPC and BIP shall each pay 50% of all Transaction Costs. If the termination event described in Section 6.3(a) occurs, all Transaction Costs incurred after the date of the BIPC Shareholders’ Meeting will be paid by BIP.

Any demand, notice or other communication to be given in connection with this Agreement must be given in writing and delivered personally or by courier or by facsimile addressed to the recipient as follows:

Brookfield Infrastructure Partners Inc.

1055 West Georgia Street

1500 Royal Centre, P.O. Box 11117

Vancouver, British Columbia

V6E 4N7

Brookfield Infrastructure Partners L.P.

73 Front Street, 5th Floor

Hamilton, HM 12, Bermuda

Brookfield Infrastructure Corporation

1055 West Georgia Street

1500 Royal Centre, P.O. Box 11117

Vancouver, British Columbia

V6E 4N7

or other such address that any of the foregoing Persons may, from time to time, advise the Parties by notice in writing given in accordance with the foregoing. Date of receipt of any such notice will be deemed to be the date of actual delivery thereof or, if given by electronic image, on the day of receipt thereof if given during the normal business hours of the recipient with written confirmation of receipt by email and verbal confirmation of same and on the next Business Day, if not given during such hours.

Time is of the essence of this Agreement.

No Party may assign its rights under this Agreement or the Plan of Arrangement without the prior written consent of the other Parties, provided that no such consent will be required for any Party to assign its rights under this Agreement and the Plan of Arrangement to a corporate successor to such Party (whether by way of amalgamation or winding-up) or to a purchaser of all or substantially all of the assets of such Party.

This Agreement will be binding upon and enure to the benefit of the Parties and their respective successors and permitted assigns.

Any waiver or release of any of the provisions of this Agreement, to be effective, must be in writing executed by the Party granting the same.

This Agreement, together with the agreements and other documents herein or therein referred to, constitutes the entire agreement between the Parties with respect to the subject matter hereof and supersedes all prior agreements, understandings, negotiations and discussions, whether oral or written, between the Parties with respect thereto.

This Agreement will be governed by and construed in accordance with the laws of the Province of British Columbia and the laws of Canada applicable therein. Each Party agrees that any action or proceeding arising out of or relating to this Agreement may be instituted in the courts of British Columbia, waives any objection which it may have now or later to the venue of that action or proceeding, irrevocably submits to the non-exclusive jurisdiction of those courts in that action or proceeding and agrees to be bound by any judgment of those courts.

No Representative of a Party shall have any personal liability whatsoever on behalf of such Party (or any of its Subsidiaries) to any other Party under this Agreement, the Arrangement or any other transactions entered into, or documents delivered, in connection with any of the foregoing. In no event will one Party be liable to any other Party for any special, consequential, indirect, collateral, incidental or punitive damages or lost profits or failure to realize expected savings or other commercial or economic loss of any kind, however caused and on any theory of liability, arising in any way out of this Agreement, whether or not such Person has been advised of the possibility of such damages.

If any term or other provision of this Agreement is invalid, illegal or incapable of being enforced by any rule or Applicable Law or public policy, all other conditions and provisions of this Agreement will nevertheless remain in full force and effect so long as the economic or legal substance of the transactions contemplated by this Agreement is not affected in any manner materially adverse to any Party. Upon such determination that any term or other provision is invalid, illegal or incapable of being enforced, the Parties will negotiate in good faith to modify this Agreement so as to effect the original intent of the Parties as closely as possible in any acceptable manner to the end that the transactions contemplated by this Agreement are fulfilled to the fullest extent possible.

This Agreement may be executed in one or more counterparts, each of which will be deemed to be an original and all of which taken together will be deemed to constitute the same instrument. Delivery of an executed signature page to this Agreement by any Party by electronic transmission will be as effective as delivery of a manually executed copy of the Agreement by such Party.

[Remainder of page intentionally left blank]

IN WITNESS WHEREOF the Parties have executed this Agreement.

Arrangement Agreement – BIP and BIPC

Schedule A
PLAN OF ARRANGEMENT

(Please see attached.)

PLAN OF ARRANGEMENT
UNDER SECTION 288 OF THE
BUSINESS CORPORATIONS ACT (BRITISH COLUMBIA)

Article 1
DEFINITIONS AND INTERPRETATION

Unless indicated otherwise, where used in this Plan of Arrangement, capitalized terms used but not defined shall have the meanings specified in the Arrangement Agreement and the following terms shall have the following meanings (and grammatical variations of such terms shall have corresponding meanings):

“Acquired Securities” means the BIP Units, the BIP Exchange LP Units, the BIHC A.2 Shares, the BIPC Shares, the BIPC Exchange LP Units, the Special LP Units, the Holding Shares and the GP Shares;

“Aggregate Elected Notes” means the total of all Elected Notes;

“Applicable Number” means the number of Special LP Units representing the value of the REUs held by Special LP;

“Arrangement” means the arrangement under Section 288 of the BCBCA in accordance with the terms and subject to the conditions set out in this Plan of Arrangement, subject to any amendments, modifications or supplements to this Plan of Arrangement made in accordance with the Arrangement Agreement and Section 6.1 hereof or made at the discretion of the Court with the consent of BIP and, if applicable, BIPC, each acting reasonably;

“Arrangement Agreement” means the Arrangement Agreement dated as of July 21, 2026 among BIP Inc., BIP and BIPC, including all schedules thereto, providing for, among other things, the Arrangement, as the same may be amended, supplemented and/or restated from time to time;

“Available Notes” means the maximum number of BIP Inc. Notes that may be issued pursuant to this Plan of Arrangement, as determined pursuant to Section 3.6;

“BCBCA” means the Business Corporations Act (British Columbia);

“BIHC” means Brookfield Infrastructure Holdings Corporation, a corporation existing under the laws of British Columbia;

“BIHC A.2 Shares” means the Class A.2 exchangeable shares of BIHC;

“BIHC A.2 Shareholder” means a holder of BIHC A.2 Shares;

“BILP” means Brookfield Infrastructure L.P., a Bermuda exempted limited partnership;

“BILP Special GP Units” means the special general partnership units in the capital of BILP;

“BIP” means Brookfield Infrastructure Partners L.P., a Bermuda exempted limited partnership;

“BIP Arrangement Resolution” means the resolution approving the transactions contemplated by this Plan of Arrangement to be considered at the BIP Unitholders’ Meeting by BIP Unitholders, substantially in the form of Schedule B to the Arrangement Agreement;

“BIP Class A Preferred Units” means the Class A Preferred Limited Partnership Units in the capital of BIP, issuable in series;

“BIP Exchange LPA” means the amended and restated limited partnership agreement of BIP Exchange LP dated as of October 15, 2018, as amended pursuant to the BIP Exchange LPA Amendment;

“BIP Exchange LPA Amendment” means the first amendment to the BIP Exchange LPA in the form attached as Schedule B hereto;

“BIP Exchange LP” means Brookfield Infrastructure Partners Exchange LP, an Ontario limited partnership;

“BIP Exchange LP Unitholder” means a holder of BIP Exchange LP Units;

“BIP Exchange LP Units” means the exchangeable LP units of BIP Exchange LP;

“BIP Inc.” means Brookfield Infrastructure Partners Inc., a corporation existing under the laws of British Columbia;

“BIP Inc. Class A Share” means a class A subordinate voting share in the capital of BIP Inc.;

“BIP Inc. Class B Share” means a class B multiple voting share in the capital of BIP Inc.;

“BIP Inc. Class I Shares” means the class I non-voting incentive shares in the capital of BIP Inc.;

“BIP Inc. Note” means a non-interest-bearing promissory note issued by BIP Inc. having a principal amount equal to the FMV of one BIP Inc. Class A Share and payable by the delivery of one BIP Inc. Class A Share;

“BIP LPA” means the amended and restated limited partnership agreement of BIP dated as of February 16, 2018, as amended as at the Effective Time, including pursuant to the BIP LPA Amendment;

“BIP LPA Amendment” means the amendment to the BIP LPA in the form attached as Schedule A hereto;

“BIP LPA Amendment Resolution” means the resolution approving the BIP LPA Amendment to be considered at the BIP Unitholders’ Meeting by BIP Unitholders, substantially in the form of Schedule B to the Arrangement Agreement;

“BIP Resolutions” means, collectively, the BIP LPA Amendment Resolution and the BIP Arrangement Resolution;

“BIP Unitholders” means holders of BIP Units;

“BIP Unitholders’ Meeting” means such meeting or meetings of BIP Unitholders, including any adjournment or postponement thereof, convened to consider, and, if deemed advisable approve, the BIP Resolutions;

“BIP Units” means the non-voting limited partnership units in the capital of BIP, other than the BIP Class A Preferred Units;

“BIPC” means Brookfield Infrastructure Corporation, a corporation existing under the laws of British Columbia;

“BIPC Class B Shareholder” means Brookfield Infrastructure Holdings (Canada) Inc., as the holder of the BIPC Class B Shares;

“BIPC Class B Shares” means the class B multiple voting shares in the capital of BIPC;

“BIPC Exchange LPA” means the amended and restated limited partnership agreement of BIPC Exchange LP dated as of August 20, 2021, as amended pursuant to the BIPC Exchange LPA Amendment;

“BIPC Exchange LPA Amendment” means the first amendment to the BIPC Exchange LPA in the form attached as Schedule C hereto;

“BIPC Exchange LP” means Brookfield Infrastructure Corporation Exchange Limited Partnership, an Alberta limited partnership;

“BIPC Exchange LP Unitholder” means a holder of BIPC Exchange LP Units;

“BIPC Exchange LP Units” means the Class B exchangeable LP units of BIPC Exchange LP;

“BIPC Resolution” means the resolution approving the transactions contemplated by this Plan of Arrangement to be considered at the BIPC Shareholders’ Meeting by BIPC Shareholders and the BIPC Class B Shareholder, substantially in the form of Schedule C to the Arrangement Agreement;

“BIPC Shareholders” means holders of BIPC Shares;

“BIPC Shareholders’ Meeting” means such meeting or meetings of the BIPC Class B Shareholder and the BIPC Shareholders, including any adjournment or postponement thereof, convened to consider, and, if deemed advisable approve, the BIPC Resolution;

“BIPC Shares” means the class A exchangeable subordinate voting shares in the capital of BIPC;

“business day” means any day of the week, other than a Saturday or Sunday or a statutory or civic holiday observed in Toronto, Ontario, Vancouver, British Columbia, New York, New York or Hamilton, Bermuda;

“certificate” means a physical security certificate or other evidence of security ownership, including a DRS statement;

“Class A Consideration” means:

“Court” means the Supreme Court of British Columbia;

“CRA” means the Canada Revenue Agency;

“Dissent Rights” has the meaning ascribed thereto in Section 4.1(a);

“Dissenting Shareholder” means a registered holder of BIPC Shares who dissents in respect of the BIPC Resolution in strict compliance with the Dissent Rights and who is ultimately entitled to be paid fair value for its BIPC Shares;

“Dissenting Unitholder” means a registered holder of BIP Units who dissents in respect of the BIP Arrangement Resolution in strict compliance with the Dissent Rights and who is ultimately entitled to be paid fair value for its BIP Units;

“DRS” means direct registration system;

“Effective Date” means the date upon which the Arrangement becomes effective, being the date BIP Inc., BIP and, if applicable, BIPC agree upon, acting reasonably, as the effective date of the Arrangement following the satisfaction or waiver of the conditions precedent to the completion of the Arrangement, including the granting of the Final Order;

“Effective Time” means 12:01 a.m. (Vancouver Time) on the Effective Date, or such other time as may be agreed to in writing by BIP Inc., BIP and, if applicable, BIPC prior to the Effective Date;

“Elected Notes” means, for any holder that is a party to a Note Agreement, the aggregate number of BIP Inc. Notes to be received by such holder as set out in the applicable Note Schedule, prior to any reduction pursuant to Section 3.6;

“Eligible Canadian Holder” means a BIP Unitholder, BIP Exchange LP Unitholder, BIHC A.2 Shareholder, BIPC Shareholder or BIPC Exchange LP Unitholder that (a) for purposes of the Tax Act and, at all relevant times, is or is deemed to be a resident of Canada (or, in the case of a holder that is a partnership, has at least one partner that is or is deemed to be a resident of Canada for purposes of the Tax Act), and (b) is not exempt from income tax under the Tax Act;

“Final Order” means the final order of the Court pursuant to Section 291 of the BCBCA, in form and substance satisfactory to BIP and, if applicable, BIPC, each acting reasonably, approving the Arrangement, as such order may be amended, modified, supplemented or varied by the Court (with the consent of BIP and, if applicable, BIPC, each acting reasonably) at any time prior to the Effective Date or, if appealed, then, unless such appeal is withdrawn, abandoned or denied, as affirmed or as amended (provided that any such amendment is acceptable to BIP and, if applicable, BIPC, each acting reasonably) on appeal;

“FMV” means fair market value, being the highest price, expressed in lawful money of Canada or the United States, as the context requires, available in an open and unrestricted market between informed prudent parties acting at arm’s length and without compulsion to act, expressed in terms of money;

“General Partner” means Brookfield Infrastructure Partners Limited, a Bermuda exempted company with liability limited by shares, the general partner of BIP;

“Governmental Entity” means (a) any multinational, federal, provincial, state, regional, municipal, local or other government, governmental or public department, central bank, court, tribunal, arbitral body, commission, commissioner, board, bureau or agency, domestic or foreign; (b) any subdivision, agent, commission, commissioner, board, or authority of any of the foregoing; (c) any self-regulatory authority, including the TSX and the NYSE; or (d) any quasi-governmental or private body exercising any regulatory, expropriation or Tax Authority under or for the account of any of the foregoing;

“GP Shares” means the common shares, par value $1.00, of the General Partner;

“Holding Shares” means the common shares in the capital of the entity that holds, among other things, the general partnership units in the capital of Special LP;

“Interim Order” means an interim order of the Court pursuant to Section 291 of the BCBCA, in form and substance acceptable to BIP and BIPC, each acting reasonably, containing declarations and directions in respect of the notice to be given and the conduct of the BIP Unitholders’ Meeting and the BIPC Shareholders’ Meeting with respect to the Arrangement, as such order may be amended, modified, supplemented or varied by the Court with the consent of BIP and BIPC, each acting reasonably;

“Note Agreement” means an agreement entered into by the parties thereto pursuant to which the BIP Unitholder, BIP Exchange LP Unitholder, BIHC A.2 Shareholder, BIPC Shareholder or BIPC Exchange LP Unitholder party thereto has validly elected to receive a portion of the Class A Consideration in the form of BIP Inc. Notes;

“Note Schedule” means the schedule to a Note Agreement specifying the number of BIP Inc. Class A Shares and BIP Inc. Notes to be received by the BIP Unitholder, BIP Exchange LP Unitholder, BIHC A.2 Shareholder, BIPC Shareholder or BIPC Exchange LP Unitholder party thereto;

“Notice Form” means the notice form for use by Eligible Canadian Holders of BIP Units, BIP Exchange LP Units or BIPC Exchange LP Units, as applicable, pursuant to which an Eligible Canadian Holder can indicate its intention to obtain a tax deferral with respect to the exchange of the BIP Units, BIP Exchange LP Units or BIPC Exchange LP Units held by it;

“NYSE” means the New York Stock Exchange;

“Person” includes an individual, partnership, association, body corporate, joint venture, business organization, trustee, executor, administrator, legal representative, government (including any Governmental Entity) or any other entity, whether or not having legal status;

“Plan of Arrangement”, “hereof”, “herein”, “hereto” and like references mean and refer to this plan of arrangement;

“REUs” means the redemption-exchange units of BILP;

“Special LP” means Brookfield Infrastructure Special L.P., a Bermuda exempted limited partnership;

“Special LP Unit Transferor” has the meaning ascribed thereto in Section 3.1(b);

“Special LP Units” means the limited partnership units in the capital of Special LP;

“Specified Purchaser” means each entity who is a party to a Note Agreement for purposes of acquiring BIP Inc. Notes;

“subsidiaries” has the meaning given in National Instrument 45-106 - Prospectus Exemptions;

“Tax Act” means the Income Tax Act, R.S.C. 1985, c. 1 (5th Supp.);

“Tax Authority” means CRA and/or any provincial tax authority, as applicable;

“Tax Election” has the meaning ascribed thereto in Section 3.3;

“Transfer Agent” means Computershare Investor Services Inc.; and

“TSX” means the Toronto Stock Exchange.

In this Plan of Arrangement:

Article 2
ARRANGEMENT AGREEMENT

This Plan of Arrangement is made pursuant to, and is subject to the provisions of, the Arrangement Agreement.

This Plan of Arrangement shall become effective at, and be binding at and after, the Effective Time on BIP Inc., BIP, BIPC, BIP Exchange LP, BIPC Exchange LP, BIHC, Specified Purchasers and all Persons who were immediately prior to the Effective Time holders or beneficial owners of the Acquired Securities and all other Persons directly or indirectly affected by the Arrangement at and after the Effective Time, without any further act or formality required on the part of any Person.

Article 3
ARRANGEMENT

Subject to the terms and conditions set forth in this Section 3.1 and except as otherwise noted, commencing at the Effective Time, the following events or transactions shall occur and shall be deemed to occur in the following sequence without any further act or formality with each step occurring two minutes after the completion of the immediately preceding step (unless specified otherwise or as required by applicable law):

Listing of BIP Inc. Class A Shares

Transfer of Special LP Units

The aggregate amount to be added by BIP Inc. to the stated capital of the BIP Inc. Class A Shares shall be an amount equal to the aggregate cost to BIP Inc. of the Special LP Units so acquired (determined for purposes of the Tax Act, including pursuant to subsection 85(2) of the Tax Act, where relevant).

The aggregate amount to be added by BIP Inc. to the stated capital of the BIP Inc. Class I Shares shall be an amount equal to the aggregate cost to BIP Inc. of the Special LP Units so acquired (determined for purposes of the Tax Act, including pursuant to subsection 85(2) of the Tax Act, where relevant).

Transfer of Holding Shares

Transfer of GP Shares

The aggregate amount to be added by BIP Inc. to the stated capital of the BIP Inc. Class B Shares shall be an amount equal to the aggregate cost to BIP Inc. of the GP Shares so acquired (determined for purposes of the Tax Act, including pursuant to subsection 85(1) of the Tax Act, where relevant).

Effectiveness of Note Agreements

Transfers of BIP Units and BIP Exchange LP Units

The aggregate amount to be added by BIP Inc. to the stated capital of the BIP Inc. Class A Shares forming part of the Class A Consideration shall be an amount equal to the aggregate cost to BIP Inc. of the BIP Units so acquired (determined for purposes of the Tax Act, including pursuant to subsections 85(1) and 85(2), as applicable, of the Tax Act, where relevant), less the aggregate principal amount of the BIP Inc. Notes forming part of the applicable Class A Consideration.

The aggregate amount to be added by BIP Inc. to the stated capital of the BIP Inc. Class A Shares forming part of the Class A Consideration shall be an amount equal to the aggregate cost to BIP Inc. of the BIP Exchange LP Units so acquired (determined for purposes of the Tax Act, including pursuant to subsections 85(1) and 85(2), as applicable, of the Tax Act, where relevant), less the aggregate principal amount of the BIP Inc. Notes forming part of the applicable Class A Consideration.

The aggregate amount to be added by BIP Inc. to the stated capital of the BIP Inc. Class A Shares shall be an amount equal to the aggregate cost to BIP Inc. of the BIP Units so acquired (determined for purposes of the Tax Act, including pursuant to subsections 85(1) and 85(2), as applicable, of the Tax Act, where relevant).

The aggregate amount to be added by BIP Inc. to the stated capital of the BIP Inc. Class A Shares shall be an amount equal to the aggregate cost to BIP Inc. of the BIP Exchange LP Units so acquired (determined for purposes of the Tax Act, including pursuant to subsections 85(1) and 85(2), as applicable, of the Tax Act, where relevant).

The aggregate amount to be added by BIP Inc. to the stated capital of the BIP Inc. Class A Shares shall be an amount equal to the aggregate cost to BIP Inc. of the BIP Exchange LP Units so acquired (determined for purposes of the Tax Act).

The aggregate amount to be added by BIP Inc. to the stated capital of the BIP Inc. Class A Shares shall be an amount equal to the aggregate cost to BIP Inc. of the BIP Units so acquired (determined for purposes of the Tax Act).

Transfers of BIHC A.2 Shares

The aggregate amount to be added by BIP Inc. to the stated capital of the BIP Inc. Class A Shares forming part of the Class A Consideration shall be an amount equal to the aggregate cost to BIP Inc. of the BIHC A.2 Shares so acquired (determined for purposes of the Tax Act, including pursuant to subsections 85(1) and 85(2), as applicable, of the Tax Act, where relevant), less the aggregate principal amount of the BIP Inc. Notes forming part of the applicable Class A Consideration.

The aggregate amount to be added by BIP Inc. to the stated capital of the BIP Inc. Class A Shares shall be an amount equal to the aggregate cost to BIP Inc. of the BIHC A.2 Shares so acquired (determined for purposes of the Tax Act, including pursuant to section 85.1 of the Tax Act, where relevant).

Transfers of BIPC Shares and BIPC Exchange LP Units¹

The aggregate amount to be added by BIP Inc. to the stated capital of the BIP Inc. Class A Shares forming part of the Class A Consideration shall be an amount equal to the aggregate cost to BIP Inc. of the BIPC Shares so acquired (determined for purposes of the Tax Act, including pursuant to subsections 85(1) and 85(2), as applicable, of the Tax Act, where relevant), less the aggregate principal amount of the BIP Inc. Notes forming part of the applicable Class A Consideration.

The aggregate amount to be added by BIP Inc. to the stated capital of the BIP Inc. Class A Shares forming part of the Class A Consideration shall be an amount equal to the aggregate cost to BIP Inc. of the BIPC Exchange LP Units so acquired (determined for purposes of the Tax Act, including pursuant to subsections 85(1) and 85(2), as applicable, of the Tax Act, where relevant), less the aggregate principal amount of the BIP Inc. Notes forming part of the applicable Class A Consideration.

The aggregate amount to be added by BIP Inc. to the stated capital of the BIP Inc. Class A Shares shall be an amount equal to the aggregate cost to BIP Inc. of the BIPC Exchange LP Units so acquired (determined for purposes of the Tax Act, including pursuant to subsections 85(1) and 85(2), as applicable, of the Tax Act, where relevant).

The aggregate amount to be added by BIP Inc. to the stated capital of the BIP Inc. Class A Shares shall be an amount equal to the aggregate cost to BIP Inc. of the BIPC Exchange LP Units so acquired (determined for purposes of the Tax Act).

The aggregate amount to be added by BIP Inc. to the stated capital of the BIP Inc. Class A Shares shall be an amount equal to the aggregate cost to BIP Inc. of the BIPC Shares so acquired (determined for purposes of the Tax Act, including pursuant to section 85.1 of the Tax Act, where relevant).

BIP Inc. Notes

The aggregate amount to be added by BIP Inc. to the stated capital of the BIP Inc. Class A Shares shall be an amount equal to the aggregate principal amount of the cancelled BIP Inc. Notes.

An Eligible Canadian Holder shall be entitled to make a joint income tax election with BIP Inc. (the “Tax Election”) with respect to its transfer of Special LP Units, BIP Units, BIP Exchange LP Units, BIHC A.2 Shares, BIPC Shares or BIPC Exchange LP Units, as applicable, to BIP Inc. pursuant to Sections 3.1(b), 3.1(c), 3.1(g), 3.1(h), 3.1(i), 3.1(j), 3.1(r), 3.1(s), 3.1(u), 3.1(v) and 3.1(w) pursuant to subsection 85(1) of the Tax Act (or subsection 85(2) of the Tax Act if such Eligible Canadian Holder is a partnership), and in each case, where applicable, the analogous provisions of provincial income tax law. To make a Tax Election, an Eligible Canadian Holder must provide the relevant information to BIP Inc. through a website that shall be made available for this purpose no later than 90 days following the Effective Date and will remain available until at least April 1 of the year immediately following the calendar year in which the Effective Date occurs or as otherwise directed. After receipt of all of the relevant information through the website, and provided that the information provided complies with the rules under the Tax Act regarding the Tax Election, BIP Inc. shall deliver a copy of the Tax Election as executed by BIP Inc. to the Eligible Canadian Holder. The Eligible Canadian Holder shall be solely responsible for executing its portion of the Tax Election and submitting it to the applicable Tax Authority within the required time.

Each BIP Unit, BIP Exchange LP Unit, BIHC A.2 Share, BIPC Share and BIPC Exchange LP Unit transferred to BIP Inc. pursuant to Sections 3.1(g), 3.1(h), 3.1(r), 3.1(u) and 3.1(v) shall be deemed to be transferred in consideration for a portion of a BIP Inc. Class A Share and a portion of a BIP Inc. Note as specified in the applicable Note Agreement. However, in no event shall any fractional BIP Inc. Class A Shares be delivered under this Plan of Arrangement.

All BIP Inc. Class A Shares, BIP Inc. Class B Shares and BIP Inc. Class I Shares issued pursuant hereto shall be deemed to be or have been validly issued and outstanding as fully paid and non-assessable shares for all purposes of the BCBCA.

Notwithstanding any other provision of this Plan of Arrangement, if BIP Inc. determines in its sole discretion that it is necessary or desirable to limit the aggregate number of BIP Inc. Notes to be issued hereunder in order to achieve the intended tax treatment of the Arrangement (such limited number of BIP Inc. Notes, the “Available Notes”):

Article 4
DISSENT PROCEDURES

From and after the Effective Time, in no case shall BIP Inc., BIP, BIPC or any other Person be required to recognize a Dissenting Unitholder or Dissenting Shareholder as a holder of BIP Units or BIPC Shares, as applicable, or as a holder of any securities of any of BIP Inc., BIP, BIPC or any of their respective subsidiaries and the names of the Dissenting Unitholders and Dissenting Shareholders shall be deleted from the register of holders of BIP Units and BIPC Shares, as applicable.

Article 5
DELIVERY OF CONSIDERATION

BIP Inc., BIP, BIPC, BIP Exchange LP, BIPC Exchange LP, the Transfer Agent, and any other Person shall be entitled to deduct or withhold from any amount otherwise payable to any Person hereunder such amounts as BIP Inc., BIP, BIPC, BIP Exchange LP, BIPC Exchange LP, the Transfer Agent or such other Person, as applicable, are required to deduct or withhold with respect to such payment under the Tax Act, the United States Internal Revenue Code of 1986 or any provision of provincial, state, local or foreign tax law. To the extent that amounts are so deducted or withheld, such withheld amounts shall be treated for all purposes hereof as having been paid to the Person in respect of which such deduction or withholding was made, provided that such deducted or withheld amounts are actually remitted to the appropriate taxing authority.

Any certificate which immediately prior to the Effective Time represented outstanding Acquired Securities that are exchanged pursuant to Section 3.1 shall cease to represent a claim or interest of any kind or nature as a unitholder of BIP, as a unitholder of BIP Exchange LP or as a shareholder of BIHC and, if applicable, as a shareholder of BIPC or as a unitholder of BIPC Exchange LP, and as a holder of a BIP Inc. Note, as a unitholder of Special LP or as a shareholder of the General Partner. On such date, the BIP Inc. Class A Shares to which the former registered holder of the certificate referred to in the preceding sentence was ultimately entitled shall be deemed to have been surrendered to BIP Inc., together with all entitlements to distributions and interest thereon held for such former registered holder.

Any exchange or transfer of securities pursuant to this Plan of Arrangement shall be free and clear of any liens, charges, security interests, encumbrances, mortgages, hypothecs, restrictions, adverse claims or other claims of third parties of any kind.

From and after the Effective Time, other than with respect to the BIPC Shares and the BIPC Exchange LP Units and the holders thereof, as applicable, if the BIPC Resolution has not been approved at the BIPC Shareholders’ Meeting: (i) this Plan of Arrangement shall take precedence and priority over any and all Acquired Securities issued prior to the Effective Time; (ii) the rights and obligations of the holders of BIP Units, BIP Exchange LP Units, BIHC A.2 Shares, BIPC Shares, BIPC Exchange LP Units, Special LP Units, GP Shares, BIP Inc. Notes, BIP Inc., the Transfer Agent and any transfer agent or other depositary therefor in relation thereto, shall be solely as provided for in this Plan of Arrangement; and (iii) all actions, causes of action, claims or proceedings (actual or contingent and whether or not previously asserted) based on or in any way relating to any BIP Units, BIP Exchange LP Units, BIHC A.2 Shares, BIPC Shares, BIPC Exchange LP Units, Special LP Units, GP Shares or BIP Inc. Notes (other than Dissent Rights) shall be deemed to have been settled, compromised, released and determined without liability except as set forth herein.

Article 6
AMENDMENTS

Article 7
MISCELLANEOUS

Notwithstanding that the transactions and events set out herein shall occur and shall be deemed to occur in the order set out in this Plan of Arrangement without any further act or formality, each of the Parties to the Arrangement Agreement shall make, do and execute, or cause to be made, done and executed, all such further acts, deeds, agreements, transfers, assurances, instruments or documents as may reasonably be required by either of them in order to further document or evidence any of the transactions or events set out herein.

SCHEDULE A

BIP LPA AMENDMENT

(See attached.)

BROOKFIELD INFRASTRUCTURE PARTNERS L.P.

BIP INC. 2026 PLAN OF ARRANGEMENT AMENDMENT TO THE AMENDED AND RESTATED LIMITED PARTNERSHIP AGREEMENT

■

THIS AMENDMENT (the “Amendment”) to the Amended and Restated Limited Partnership Agreement of Brookfield Infrastructure Partners L.P. (the “Partnership”), dated as of February 16, 2018, as amended prior to the date hereof (the “Agreement”) is made as of the ■ day of ■, but following the acquisition by Brookfield Infrastructure Partners Inc. (“BIP Inc.”) of certain securities pursuant to Section 3.1(m) of the Plan of Arrangement (as defined below), by the undersigned. Capitalized terms used but not defined herein shall have the meanings set forth in the Agreement.

WHEREAS, pursuant to the arrangement agreement dated July 21, 2026 between BIP Inc., the Partnership and Brookfield Infrastructure Corporation (“BIPC”), BIP Inc. has agreed to acquire, directly or indirectly, all of the issued and outstanding Equity Units and class A exchangeable subordinate voting shares in the capital of BIPC in exchange for class A subordinate voting shares in the capital of BIP Inc. (the “Class A Shares”), to be implemented pursuant to a plan of arrangement (the “Plan of Arrangement”) made in accordance with the applicable provisions of the Business Corporations Act (British Columbia) (and the regulations made thereunder) (the “Transaction”);

AND WHEREAS, pursuant to the terms of the Transaction, holders of Equity Units will be entitled to receive, in respect of each Equity Unit held, one (1) Class A Share (the “Class A Consideration”) and may elect to receive a portion of their Class A Consideration in the form of BIP Inc. Notes (as defined in the Plan of Arrangement), which will be subsequently transferred and assigned to BIP Inc. in exchange for Class A Shares pursuant to the Plan of Arrangement;

AND WHEREAS, in order to effect the Transaction, the General Partner desires to amend the Agreement as set out herein to, inter alia, provide the Partnership with a right of redemption in order to redeem Equity Units for the Cash Consideration and to provide BIP Inc. with an overriding call right following the exercise by the Partnership of such redemption right in order to purchase such Equity Units for the Class A Consideration;

AND WHEREAS, pursuant to Section 14.2.1 of the Agreement, amendments to the Agreement may only be proposed by or with the consent of the General Partner and the General Partner has proposed and consented to the Amendment;

AND WHEREAS, pursuant to Section 14.3.4 of the Agreement, the Partnership has obtained Opinions of Counsel acceptable to the General Partner to the effect that the Amendment (i) will not cause the Partnership to be treated as an association taxable as a corporation or otherwise taxable as an entity for tax purposes (provided that for U.S. tax purposes the General Partner has not made the election contemplated by Section 9.6 of the Agreement) and (ii) will not affect the limited liability of any Limited Partner or any limited partner of the Infrastructure Partnership under applicable law;

AND WHEREAS, pursuant to Section 14.2.2 of the Agreement, the Amendment shall be effective upon its approval by the General Partner and, where required under the Agreement or by the Limited Partnership Act, on the consent, vote or approval of the amendment by the holders of a majority of the voting power of the Outstanding Equity Units;

AND WHEREAS, a meeting (the “Meeting”) of the holders of Equity Units was held on ■, 2026 at which resolutions approving the Amendment and the Transaction were adopted by holders of a majority of the Outstanding Equity Units that attended the Meeting virtually or by proxy and such resolutions were also adopted in accordance and compliance with the Agreement;

NOW THEREFORE,

“Agreement” means this Amended and Restated Limited Partnership Agreement of Brookfield Infrastructure Partners L.P. dated as of May 16, 2025 and all schedules attached to this agreement, in each case as it or they may be further amended, supplemented, replaced or restated from time to time.

Section 1.8 is hereby deleted in its entirety and replaced with the following:

This Agreement will be governed by and construed in accordance with the laws of Bermuda. Each of the Partners (other than governmental entities prohibited from submitting to the jurisdiction of a particular jurisdiction) will submit to (i) the non-exclusive jurisdiction of the courts of Bermuda and British Columbia in any dispute, suit, action or proceeding arising out of or relating to this Agreement and (ii) the non-exclusive jurisdiction of the courts of Bermuda and British Columbia in any dispute, suit, action or proceeding arising out of or relating to the Transaction (including, for greater certainty, arising out of or in relation to the terms of Section 7.6). Each Partner waives, to the fullest extent permitted by law, any immunity from jurisdiction of any such court or from any legal process therein and further waives, to the fullest extent permitted by law, any claim of inconvenient forum, improper venue or that any such court does not have jurisdiction over the Partner. Any final judgment against a Partner in any proceedings brought in any such court will be conclusive and binding upon the Partner and may be enforced in the courts of any other jurisdiction of which the Partner is or may be subject, by suit upon such judgment. The foregoing submission to jurisdiction and waivers will survive the dissolution, liquidation, winding up and termination of the Partnership.

Article 4 is hereby amended by adding the following provision:

Article 7 is hereby amended by adding the following provisions:

This Amendment shall be effective at the time it is stated to become effective pursuant to Section 3.1(n) of the Plan of Arrangement.

This Amendment shall be governed by and construed in accordance with the laws of Bermuda.

[Remainder of this page left blank intentionally.]

IN WITNESS WHEREOF, the General Partner has executed this Amendment as of the date first written above.

[Signature Page – BIP LPA Amendment]

All Limited Partners now and hereafter admitted as limited partners of the Partnership, pursuant to Powers of Attorney now and hereafter executed in favor of, and granted and delivered to, the General Partner.

[Signature Page – BIP LPA Amendment]

SCHEDULE B

BIP EXCHANGE LPA AMENDMENT

(See attached.)

BROOKFIELD INFRASTRUCTURE PARTNERS EXCHANGE LP

FIRST AMENDMENT TO THE AMENDED AND RESTATED LIMITED PARTNERSHIP AGREEMENT

THIS AMENDMENT (the “Amendment”) to the Amended and Restated Limited Partnership Agreement of Brookfield Infrastructure Partners Exchange LP (the “Partnership”), dated as of October 15, 2018 (as amended, the “Agreement”) is made as of the ■ day of ■, but following the acquisition by Brookfield Infrastructure Partners Inc. (“BIP Inc.”) of Exchangeable LP Units pursuant to Section 3.1(j) of the Plan of Arrangement (as defined below), by the undersigned. Capitalized terms used but not defined herein shall have the meanings set forth in the Agreement.

WHEREAS, pursuant to the arrangement agreement dated July 21, 2026 between BIP Inc., Brookfield Infrastructure Partners L.P. (“BIP”) and Brookfield Infrastructure Corporation (“BIPC”), BIP Inc. has agreed to acquire, directly or indirectly, all of the issued and outstanding Exchangeable LP Units in the capital of the Partnership in exchange for class A subordinate voting shares in the capital of BIP Inc. (the “Class A Shares”), to be implemented pursuant to a plan of arrangement (the “Plan of Arrangement”) made in accordance with the applicable provisions of the Business Corporations Act (British Columbia) (and the regulations made thereunder) (the “Transaction”);

AND WHEREAS, pursuant to the terms of the Transaction, holders of Exchangeable LP Units will be entitled to receive, in respect of each Exchangeable LP Unit held, one (1) Class A Share (the “Class A Consideration”) and may elect to receive a portion of their Class A Consideration in the form of BIP Inc. Notes (as defined in the Plan of Arrangement), which will be subsequently transferred and assigned to BIP Inc. in exchange for Class A Shares pursuant to the Plan of Arrangement;

AND WHEREAS, in order to effect the Transaction, the General Partner desires to amend the Agreement as set out herein to, inter alia, provide the Partnership with a right of redemption in order to redeem Exchangeable LP Units for the Cash Consideration and to provide BIP Inc. with an overriding call right following the exercise by the Partnership of such redemption right in order to purchase such Exchangeable LP Units for the Class A Consideration;

AND WHEREAS, pursuant to Section 17.1 of the Agreement, amendments to the Agreement may be made in writing by the General Partner with the approval of at least 66⅔% of the Class A LP Units;

AND WHEREAS pursuant to Section 11.1(b) of Schedule A of the Agreement, BIP will not, except as provided in the Support Agreement, without the prior approval of the Partnership and the prior approval of the holders of the Exchangeable LP Units, reclassify or otherwise change the rights, privileges or other terms of the outstanding BIP Units or effect a merger, reorganization or other transaction involving or affecting the BIP Units unless the Partnership is permitted to make the same or an economically equivalent change to, or in the rights of holders of, the Exchangeable LP Units and the same or an economically equivalent change is made simultaneously to, or in the rights of the holders of, the Exchangeable LP Units;

AND WHEREAS the General Partner and the holders of at least 66⅔% of the Class A LP Units have approved this amendment to provide for economically equivalent changes to the Exchangeable LP Units and such changes are being made simultaneously to the Exchangeable LP Units.

NOW THEREFORE,

Section 1.1 is hereby amended by adding the following definitions:

Section 8.2 is hereby amended by adding the following provision as a new last paragraph:

For purposes of this Section 8.2, in relation to the fiscal year of the Partnership that includes the BIP Arrangement (the “BIP Arrangement Year”), the Partnership shall be considered to have had a first fiscal year (the “First Notional Year”) commencing on the first date of the calendar year in which the Effective Date occurs and ending immediately following the completion of the BIP Arrangement steps occurring on the Effective Date and a second fiscal year commencing immediately after the end of the First Notional Year and ending on the last date of the calendar year in which the Effective Date occurs. The Partnership shall determine its Income for Canadian Tax Purposes for the First Notional Year on a “closing of the books” basis reasonably and in good faith, as would be determined without reference to this section, provided, however, that any gain or income from a disposition of property occurring after the end of the First Notional Year shall not be allocated to the First Notional Year. Absent any assessment in respect of taxes, the Partnership shall not amend any allocation of Income for Canadian Tax Purposes or Loss for Canadian Tax Purposes to Limited Partners in respect of the BIP Arrangement Year or any previous fiscal year.

Section 19.2 is hereby deleted in its entirety and replaced with the following:

Section 19.2 Governing Law

This Agreement and its application and interpretation will be governed and construed in accordance with the laws of the Province of Ontario and the federal laws of Canada applicable herein, except in such cases and to such extent as the laws of another jurisdiction will necessarily control. Each Partner irrevocably attorns to (i) the jurisdiction of the courts of the Province of Ontario in any dispute, suit, action or proceeding arising out of or relating to this Agreement and (ii) the jurisdiction of the courts of the Province of British Columbia in any dispute, suit, action or proceeding arising out of or relating to the Transaction.

Section 1.1 of Schedule A of the Agreement (Exchangeable Securities Provisions) is hereby amended by adding the following definitions in alphabetical order therein:

“Amendment Effective Time” means the time that the First Amendment to the Amended and Restated Limited Partnership Agreement of the Partnership dated as of ■ becomes effective pursuant to Section 3.1(k) of the Plan of Arrangement.

“Call Right” has the meaning assigned to such term in Section 7.4(a).

“Cash Consideration” means the amount equal to the value of one (1) Class A Share.

“Class A Consideration” means one (1) Class A Share for each Exchangeable LP Unit.

“Class A Share” means a class A subordinate voting share in the capital of BIP Inc.

“Public Unitholder” means a holder of Public Units.

“Public Units” means the Exchangeable LP Units that are issued and outstanding (except for those Exchangeable LP Units held by BIP Inc.) at the Amendment Effective Time.

Section 7 of Schedule A of the Agreement (Exchangeable Securities Provisions) is hereby amended by adding the following provisions:

This Amendment shall be effective at the time it is stated to become effective pursuant to Section 3.1(k) of the Plan of Arrangement.

This Amendment shall be governed by and construed in accordance with the laws of Ontario.

[Remainder of this page left blank intentionally.]

IN WITNESS WHEREOF, the General Partner has executed this Amendment as of the ■ day of ■.

[Signature Page – BIP Exchange LP – LPA Amendment]

SCHEDULE C

BIPC EXCHANGE LPA AMENDMENT

(See attached.)

BROOKFIELD INFRASTRUCTURE CORPORATION EXCHANGE LIMITED PARTNERSHIP

FIRST AMENDMENT TO THE AMENDED AND RESTATED LIMITED PARTNERSHIP AGREEMENT

THIS AMENDMENT (the “Amendment”) to the Amended and Restated Limited Partnership Agreement of Brookfield Infrastructure Corporation Exchange Limited Partnership (the “Partnership”), dated as of August 20, 2021 (as amended, the “Agreement”) is made as of the ■ day of ■, but following the acquisition by Brookfield Infrastructure Partners Inc. (“BIP Inc.”) of Exchangeable LP Units pursuant to Section 3.1(w) of the Plan of Arrangement (as defined below), by the undersigned. Capitalized terms used but not defined herein shall have the meanings set forth in the Agreement.

WHEREAS, pursuant to the arrangement agreement dated July 21, 2026 between BIP Inc., Brookfield Infrastructure Partners L.P. (“BIP”) and Brookfield Infrastructure Corporation (“BIPC”), BIP Inc. has agreed to acquire, directly or indirectly, all of the issued and outstanding Exchangeable LP Units in the capital of the Partnership in exchange for class A subordinate voting shares in the capital of BIP Inc. (the “Class A Shares”), to be implemented pursuant to a plan of arrangement (the “Plan of Arrangement”) made in accordance with the applicable provisions of the Business Corporations Act (British Columbia) (and the regulations made thereunder) (the “Transaction”);

AND WHEREAS, pursuant to the terms of the Transaction, holders of Exchangeable LP Units will be entitled to receive, in respect of each Exchangeable LP Unit held, one (1) Class A Share (the “Class A Consideration”) and may elect to receive a portion of their Class A Consideration in the form of BIP Inc. Notes (as defined in the Plan of Arrangement), which will be subsequently transferred and assigned to BIP Inc. in exchange for Class A Shares pursuant to the Plan of Arrangement;

AND WHEREAS, in order to effect the Transaction, the General Partner desires to amend the Agreement as set out herein to, inter alia, provide the Partnership with a right of redemption in order to redeem Exchangeable LP Units for the Cash Consideration and to provide BIP Inc. with an overriding call right following the exercise by the Partnership of such redemption right in order to purchase such Exchangeable LP Units for the Class A Consideration;

AND WHEREAS, pursuant to Section 17.01 of the Agreement, amendments to the Agreement may be made in writing by the General Partner with the approval of at least 66⅔% of the Class A LP Units;

AND WHEREAS pursuant to Section 11.1(b) of Schedule A of the Agreement, BIP will not, except as provided in the Support Agreement, without the prior approval of the Partnership and the prior approval of the holders of the Exchangeable LP Units, reclassify or otherwise change the rights, privileges or other terms of the outstanding BIPC Shares or effect a merger, reorganization or other transaction involving or affecting the BIPC Shares unless the Partnership is permitted to make the same or an economically equivalent change to, or in the rights of holders of, the Exchangeable LP Units and the same or an economically equivalent change is made simultaneously to, or in the rights of the holders of, the Exchangeable LP Units;

AND WHEREAS the General Partner and the holders of at least 66⅔% of the Class A LP Units have approved this amendment to provide for economically equivalent changes to the Exchangeable LP Units and such changes are being made simultaneously to the Exchangeable LP Units.

NOW THEREFORE,

Section 1.01(1) is hereby amended by adding the following definitions:

Section 8.02 is hereby amended by adding the following provision as a new last paragraph:

For purposes of this Section 8.02, in relation to the fiscal year of the Partnership that includes the BIP Arrangement (the “BIP Arrangement Year”), the Partnership shall be considered to have had a first fiscal year (the “First Notional Year”) commencing on the first date of the calendar year in which the Effective Date occurs and ending immediately following the completion of the BIP Arrangement steps occurring on the Effective Date and a second fiscal year commencing immediately after the end of the First Notional Year and ending on the last date of the calendar year in which the Effective Date occurs. The Partnership shall determine its Income for Canadian Tax Purposes for the First Notional Year on a “closing of the books” basis reasonably and in good faith, as would be determined without reference to this section, provided, however, that any gain or income from a disposition of property occurring after the end of the First Notional Year shall not be allocated to the First Notional Year. Absent any assessment in respect of taxes, the Partnership shall not amend any allocation of Income for Canadian Tax Purposes or Loss for Canadian Tax Purposes to Limited Partners in respect of the BIP Arrangement Year or any previous fiscal year.

Section 19.02 is hereby deleted in its entirety and replaced with the following:

Section 19.02 Governing Law

This Agreement and its application and interpretation will be governed and construed in accordance with the laws of the Province of Alberta and the federal laws of Canada applicable herein, except in such cases and to such extent as the laws of another jurisdiction will necessarily control. Each Partner irrevocably attorns to (i) the jurisdiction of the courts of the Province of Alberta in any dispute, suit, action or proceeding arising out of or relating to this Agreement and (ii) the jurisdiction of the courts of the Province of British Columbia in any dispute, suit, action or proceeding arising out of or relating to the Transaction.

Article 7 of Schedule A of the Agreement (Exchangeable Securities Provisions) is hereby amended by adding the following provisions:

This Amendment shall be effective at the time it is stated to become effective pursuant to Section 3.1(x) of the Plan of Arrangement.

This Amendment shall be governed by and construed in accordance with the laws of Alberta.

[Remainder of this page left blank intentionally.]

IN WITNESS WHEREOF, the General Partner has executed this Amendment as of the ■ day of ■.

[Signature Page – BIPC Exchange LP – LPA Amendment]

Schedule B

BIP RESOLUTIONS

(Please see attached.)

BIP ARRANGEMENT RESOLUTION

BE IT RESOLVED THAT:

BIP LPA AMENDMENT RESOLUTION

BE IT RESOLVED THAT:

Exhibit A

LPA Amendment

(See attached.)

BROOKFIELD INFRASTRUCTURE PARTNERS L.P.

BIP INC. 2026 PLAN OF ARRANGEMENT AMENDMENT TO THE AMENDED AND RESTATED LIMITED PARTNERSHIP AGREEMENT

■

THIS AMENDMENT (the “Amendment”) to the Amended and Restated Limited Partnership Agreement of Brookfield Infrastructure Partners L.P. (the “Partnership”), dated as of February 16, 2018, as amended prior to the date hereof (the “Agreement”) is made as of the ■ day of ■, but following the acquisition by Brookfield Infrastructure Partners Inc. (“BIP Inc.”) of certain securities pursuant to Section 3.1(m) of the Plan of Arrangement (as defined below), by the undersigned. Capitalized terms used but not defined herein shall have the meanings set forth in the Agreement.

WHEREAS, pursuant to the arrangement agreement dated July 21, 2026 between BIP Inc., the Partnership and Brookfield Infrastructure Corporation (“BIPC”), BIP Inc. has agreed to acquire, directly or indirectly, all of the issued and outstanding Equity Units and class A exchangeable subordinate voting shares in the capital of BIPC in exchange for class A subordinate voting shares in the capital of BIP Inc. (the “Class A Shares”), to be implemented pursuant to a plan of arrangement (the “Plan of Arrangement”) made in accordance with the applicable provisions of the Business Corporations Act (British Columbia) (and the regulations made thereunder) (the “Transaction”);

AND WHEREAS, pursuant to the terms of the Transaction, holders of Equity Units will be entitled to receive, in respect of each Equity Unit held, one (1) Class A Share (the “Class A Consideration”) and may elect to receive a portion of their Class A Consideration in the form of BIP Inc. Notes (as defined in the Plan of Arrangement), which will be subsequently transferred and assigned to BIP Inc. in exchange for Class A Shares pursuant to the Plan of Arrangement;

AND WHEREAS, in order to effect the Transaction, the General Partner desires to amend the Agreement as set out herein to, inter alia, provide the Partnership with a right of redemption in order to redeem Equity Units for the Cash Consideration and to provide BIP Inc. with an overriding call right following the exercise by the Partnership of such redemption right in order to purchase such Equity Units for the Class A Consideration;

AND WHEREAS, pursuant to Section 14.2.1 of the Agreement, amendments to the Agreement may only be proposed by or with the consent of the General Partner and the General Partner has proposed and consented to the Amendment;

AND WHEREAS, pursuant to Section 14.3.4 of the Agreement, the Partnership has obtained Opinions of Counsel acceptable to the General Partner to the effect that the Amendment (i) will not cause the Partnership to be treated as an association taxable as a corporation or otherwise taxable as an entity for tax purposes (provided that for U.S. tax purposes the General Partner has not made the election contemplated by Section 9.6 of the Agreement) and (ii) will not affect the limited liability of any Limited Partner or any limited partner of the Infrastructure Partnership under applicable law;

AND WHEREAS, pursuant to Section 14.2.2 of the Agreement, the Amendment shall be effective upon its approval by the General Partner and, where required under the Agreement or by the Limited Partnership Act, on the consent, vote or approval of the amendment by the holders of a majority of the voting power of the Outstanding Equity Units;

AND WHEREAS, a meeting (the “Meeting”) of the holders of Equity Units was held on ■, 2026 at which resolutions approving the Amendment and the Transaction were adopted by holders of a majority of the Outstanding Equity Units that attended the Meeting virtually or by proxy and such resolutions were also adopted in accordance and compliance with the Agreement;

NOW THEREFORE,

“Agreement” means this Amended and Restated Limited Partnership Agreement of Brookfield Infrastructure Partners L.P. dated as of May 16, 2025 and all schedules attached to this agreement, in each case as it or they may be further amended, supplemented, replaced or restated from time to time.

Section 1.8 is hereby deleted in its entirety and replaced with the following:

This Agreement will be governed by and construed in accordance with the laws of Bermuda. Each of the Partners (other than governmental entities prohibited from submitting to the jurisdiction of a particular jurisdiction) will submit to (i) the non-exclusive jurisdiction of the courts of Bermuda and British Columbia in any dispute, suit, action or proceeding arising out of or relating to this Agreement and (ii) the non-exclusive jurisdiction of the courts of Bermuda and British Columbia in any dispute, suit, action or proceeding arising out of or relating to the Transaction (including, for greater certainty, arising out of or in relation to the terms of Section 7.6). Each Partner waives, to the fullest extent permitted by law, any immunity from jurisdiction of any such court or from any legal process therein and further waives, to the fullest extent permitted by law, any claim of inconvenient forum, improper venue or that any such court does not have jurisdiction over the Partner. Any final judgment against a Partner in any proceedings brought in any such court will be conclusive and binding upon the Partner and may be enforced in the courts of any other jurisdiction of which the Partner is or may be subject, by suit upon such judgment. The foregoing submission to jurisdiction and waivers will survive the dissolution, liquidation, winding up and termination of the Partnership.

Article 4 is hereby amended by adding the following provision:

Article 7 is hereby amended by adding the following provisions:

This Amendment shall be effective at the time it is stated to become effective pursuant to Section 3.1(n) of the Plan of Arrangement.

This Amendment shall be governed by and construed in accordance with the laws of Bermuda.

[Remainder of this page left blank intentionally.]

IN WITNESS WHEREOF, the General Partner has executed this Amendment as of the date first written above.

[Signature Page – BIP LPA Amendment]

All Limited Partners now and hereafter admitted as limited partners of the Partnership, pursuant to Powers of Attorney now and hereafter executed in favor of, and granted and delivered to, the General Partner.

[Signature Page – BIP LPA Amendment]

Schedule C

BIPC RESOLUTION

(Please see attached.)

BIPC ARRANGEMENT RESOLUTION

BE IT RESOLVED, AS A SPECIAL RESOLUTION, THAT: