UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number 811-23863

BROOKFIELD INFRASTRUCTURE INCOME FUND INC.

(Exact name of registrant as specified in charter)

Brookfield Place

225 Liberty Street, 35th Floor

New York, New York 10281

(Address of principal executive offices) (Zip code)

Brian F. Hurley, Esq.

Brookfield Infrastructure Income Fund Inc.

Brookfield Place

225 Liberty Street, 35th Floor

New York, New York 10281

(Name and address of agent for service)

(855) 777-8001

Registrant's telephone number, including area code

Date of fiscal year end: December 31

Date of reporting period: June 30, 2026

Item 1. Reports to Stockholders.

IN PROFILE

Brookfield Asset Management Private Institutional Capital Adviser (Canada), L.P., a Manitoba limited partnership (“BAM PIC Canada,” or the “Adviser”), provides investment advisory services to the Fund and certain public and private investment vehicles and programs that Brookfield currently manages and participates in, and may in the future manage and participate in, including co-investment vehicles, sidecar vehicles, separate accounts, region-specific vehicles, strategy-specific vehicles, sector-specific vehicles and Brookfield proprietary accounts (collectively, “Brookfield Accounts”). BAM PIC Canada is an indirect wholly-owned subsidiary of Brookfield Asset Management Ltd. (NYSE: BAM; TSX: BAM) (“BAM Ltd.”). Brookfield Public Securities Group LLC (“PSG”) serves as the Administrator to the Fund. PSG is an indirect wholly-owned subsidiary of BAM Ltd. Brookfield Corporation, a publicly traded company (NYSE: BN; TSX: BN), holds a 73% interest in BAM Ltd. BAM Ltd. is a leading global alternative asset manager focused on real estate, renewable power, infrastructure and private equity, with over $1 trillion of assets under management as of June 30, 2026.

TABLE OF CONTENTS

This report is for shareholder information. This is not a prospectus intended for use in the purchase or sale of Fund shares.

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LETTER TO SHAREHOLDERS

Dear Shareholders,

We are pleased to provide the Semi-Annual Report for Brookfield Infrastructure Income Fund Inc. (the “Fund” or “BII”) for the period from January 1, 2026, through June 30, 2026 (“the Period”).

The Fund delivered a positive return during each month for the first half of the year, highlighting the portfolio’s resilience during this reporting period. Performance was underpinned by the strong cash flow profile of our assets, with 85% of revenues being either regulated or contracted and 80% with inflation-linked escalators. These characteristics have helped to provide consistency across a range of market environments.

New Investments

During the first half of the year, we brought the total number of investments to 52 by continuing to invest in essential, high-quality infrastructure assets. Below we highlight a few key transactions that closed during the period:

U.S. Utility (Duke Energy Florida)

BII, alongside Brookfield, acquired a 19.7% equity interest in Duke Energy Florida (“Duke Florida”) from Duke Energy Corporation at the end of February. Duke Florida is a single-state, fully regulated, integrated electric utility serving two million customers and covering over half of Florida—an economically robust region and one of the fastest-growing in the U.S. With a regulated asset base of approximately $23 billion, Duke Energy Florida owns and operates over 78,000 kilometers of distribution lines, 8,700 kilometers of transmission lines, and 13 gigawatt (GW) of renewable and thermal generation assets. The business is regulated by the Florida Public Service Commission (“Florida PSC”), a regulatory framework that Brookfield believes is supportive of utility investment.

U.S. Electric Transmission (Trans Bay Cable)

In March, BII participated in the acquisition of Trans Bay Cable, a 400 megawatt (MW) high voltage direct current subsea transmission line in the San Francisco Bay. Brookfield acquired a 50% stake from a subsidiary of NextEra Energy, who will maintain the residual 50% and operatorship. Trans Bay Cable is a federally identified critical asset developed to address service reliability needs following the occurrence of San Francisco-wide blackouts and provides 40% of the electric power to the city and surrounding areas. It functions as a key balancing resource for the California electric grid.

AI Compute Infrastructure Platform (Radiant)

BII participated in the launch of Radiant, the AI compute leasing platform formed in partnership with NVIDIA, in March. Radiant will serve as Brookfield’s operating platform to lease contracted, high-performance compute infrastructure to hyperscalers, enterprises and sovereign customers and has a robust pipeline of projects with investment characteristics that we believe are attractive.

Radiant follows Brookfield’s disciplined approach to infrastructure investing and is expected to benefit from cash flow visibility associated with long-term take-or-pay contracts, strong demand for compute infrastructure and an advanced pipeline for deployment with highly rated counterparties. Radiant is differentiated as one of a limited number of NVIDIA Cloud Partners, receiving enhanced access to graphics processing units (GPUs) and NVIDIA’s data center reference architecture—helping to enable faster and more cost-effective deployment.

Transport Loan

In March, BII participated in a senior secured loan that will help finance the purchase, as well as future acquisitions, of a fixed base operator (FBO). An FBO provides essential aeronautical services supporting general and private aviation. The transaction is supported by a well-capitalized, experienced institutional sponsor and has a seasoned management team possessing extensive large-scale FBO operating experience. The portfolio comprises essential aviation assets in strategically attractive markets.

LETTER TO SHAREHOLDERS (continued)

Portfolio Company Initiatives

We also wanted to provide an update on our nuclear services company, Westinghouse.

Nuclear Services (Westinghouse)

In October 2025, Westinghouse announced a strategic partnership with the U.S. Government to accelerate the construction of at least $80 billion of new reactors using Westinghouse technology. In June 2026, the U.S. Department of Energy issued a conditional commitment for $17.5 billion in loan facilities to finance long-lead equipment and help accelerate construction and commercial operations of Westinghouse’s AP1000 nuclear reactor by up to three years across the U.S. These initiatives represent important milestones toward the deployment of new nuclear capacity in the U.S. and for Westinghouse to expand its Energy Systems activities, reinforcing Westinghouse’s position as a leading nuclear technology provider. These partnerships also help demonstrate Brookfield’s commitment to providing baseload electric power and supporting the growing energy demands of AI.

Outlook

Since BII’s inception, we have highlighted what we believe are three important forces shaping the investment landscape: digitalization, decarbonization, and deglobalization. While these themes remain highly relevant, the infrastructure required to support them continues to evolve alongside the global economy.

Digitalization has expanded beyond towers and fiber to include cloud infrastructure, hyperscale data centers, AI-driven computing capacity and the power systems that support them. At the same time, decarbonization has shifted from a singular focus on replacing carbon-intensive generation to a broader focus on energy addition, driven by AI, electrification and reindustrialization. Deglobalization has progressed from reshoring and supply chain resilience to a greater focus on energy security and data sovereignty, fueling investment in domestic energy systems, strategic supply chains and national digital infrastructure.

In our view, the result is an expanding investable universe for infrastructure investors. Legacy assets such as ports, pipelines, towers and utilities remain key focus areas, but require additional capital and operating expertise to maintain, modernize and expand these networks and systems. Maturing sectors such as solar, battery storage and cloud data centers increasingly offer long-term contracted cash flows and exhibit the operating characteristics associated with infrastructure. Newer areas, including AI infrastructure and new energy and power infrastructure, may present opportunities for enhanced risk-adjusted returns and provide exposure to some of the most significant structural growth trends shaping the global economy.

BII’s portfolio reflects this breadth, with investments across power and transition, data infrastructure, transport, midstream and utilities. The Fund also invests across equity and debt, allowing it to combine current income from contracted and regulated assets with earnings growth and expansion opportunities. We believe this diversification across sectors and return drivers positions BII to participate in the broadening infrastructure opportunity set while maintaining a disciplined focus on essential assets and contracted and regulated cash flows.

We welcome your questions and comments and encourage you to contact our Investor Relations team at (855) 777-8001 or visit us at www.privatewealth.brookfield.com for more information. Thank you for your support.

Chloe Berry 

President

Brookfield Infrastructure Income Fund Inc.

LETTER TO SHAREHOLDERS (continued)

These views represent the opinions of Brookfield Asset Management Private Institutional Capital Adviser (Canada), L.P. and are not intended to predict or depict the performance of any investment. These views are primarily as of the close of business on June 30, 2026, and subject to change based on subsequent developments.

Past performance is no guarantee of future results.

Quasar Distributors, LLC is the distributor of Brookfield Infrastructure Income Fund Inc.

BROOKFIELD INFRASTRUCTURE INCOME FUND INC.

Fund Performance (Unaudited)

Average Annual Total Returns*

The table does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.

Disclosure

Past performance is no guarantee of future results.

All returns are shown in United States Dollars (“USD”).

The FTSE Global Core Infrastructure 50/50 Index gives participants an industry-defined interpretation of infrastructure and adjusts the exposure to certain infrastructure sub-sectors. The constituent weights are adjusted as part of the semi-annual review according to three broad industry sectors—50% Utilities, 30% Transportation including capping of 7.5% for railroads/railways and a 20% mix of other sectors including pipelines, satellites and telecommunication towers. Company weights within each group are adjusted in proportion to their investable market capitalization.

An index does not reflect any fees, expenses or sales charges. It is not possible to invest directly into an index. Index performance is shown for illustrative purposes only and does not predict or depict the performance of the Fund.

The Fund’s portfolio holdings are subject to change without notice. The mention of specific securities is not a recommendation or solicitation for any person to buy, sell or hold any particular security. There is no assurance that the Fund currently holds these securities. Please refer to the Consolidated Schedule of Investments contained in this report for a full listing of the Fund’s holdings.

Investing in the Fund involves a high degree of risk, including possible loss of principal invested. There can be no assurance that the Fund will achieve its investment objective.

The Fund will subject Fund stockholders to greater risks associated with private market investments with potential limited liquidity. An investment in the Fund should be viewed as a long-term investment within a multi-asset personal portfolio and should not be viewed individually as a complete investment program.

Private infrastructure investments are subject to the risks incidental to the ownership and operation of infrastructure projects, including risks associated with the general economic climate, geographic or market concentration, government regulations and fluctuations in interest rates. Since investments in infrastructure securities, like many other types of long-term investments, have historically experienced significant fluctuations and cycles in value, specific market conditions may result in occasional or permanent reductions in the value of these investments. Such specific market conditions could include, but are not limited to, the following: (i) demand for commodities, such as natural gas or minerals; (ii) impact of alternative technologies on our business and cyber security attacks; (iii) ability to successfully identify, complete and integrate acquisitions; (iv) competition with other market participants; (v) construction or expansion or projects, environmental damage and future capital expenditures; (vi) economic regulation and adverse regulatory decisions in the countries we operate, including nationalization or the imposition of new taxes; (vii) supply chain disruptions; and (viii) adverse claims or governmental rights or governmental rights asserted against the lands used for our infrastructure assets.

BROOKFIELD INFRASTRUCTURE INCOME FUND INC.

Fund Performance (Unaudited)

The Fund currently intends to use leverage from time to time to facilitate short-term working capital requirements and to seek to achieve its investment objectives. Leverage creates risks that may adversely affect the return for the stockholders.

Performance data quoted represents past performance results and does not guarantee future results. Current performance may be lower or higher than the performance data quoted.

These views represent the opinions of Brookfield Asset Management Private Institutional Capital Adviser (Canada), L.P. and are not intended to predict or depict the performance of any investment. These views are primarily as of the close of business on June 30, 2026 and subject to change based on subsequent developments.

BROOKFIELD INFRASTRUCTURE INCOME FUND INC.
Consolidated Schedule of Investments (Unaudited)
June 30, 2026

See Notes to Consolidated Financial Statements.

BROOKFIELD INFRASTRUCTURE INCOME FUND INC.

Consolidated Schedule of Investments (Unaudited) (continued)

June 30, 2026

See Notes to Consolidated Financial Statements.

BROOKFIELD INFRASTRUCTURE INCOME FUND INC.

Consolidated Schedule of Investments (Unaudited) (continued)

June 30, 2026

See Notes to Consolidated Financial Statements.

BROOKFIELD INFRASTRUCTURE INCOME FUND INC.

Consolidated Schedule of Investments (Unaudited) (continued)

June 30, 2026

See Notes to Consolidated Financial Statements.

BROOKFIELD INFRASTRUCTURE INCOME FUND INC.

Consolidated Schedule of Investments (Unaudited) (continued)

June 30, 2026

See Notes to Consolidated Financial Statements.

BROOKFIELD INFRASTRUCTURE INCOME FUND INC.

Consolidated Schedule of Investments (Unaudited) (continued)

June 30, 2026

See Notes to Consolidated Financial Statements.

BROOKFIELD INFRASTRUCTURE INCOME FUND INC.

Consolidated Schedule of Investments (Unaudited) (continued)

June 30, 2026

The following notes should be read in conjunction with the accompanying Consolidated Schedule of Investments.

See Notes to Consolidated Financial Statements.

BROOKFIELD INFRASTRUCTURE INCOME FUND INC.

Consolidated Schedule of Investments (Unaudited) (continued)

June 30, 2026

Aggregator A, Aggregator B, Aggregator D, Aggregator E and Preferred Aggregator do not charge management fees. Redemption provisions are subject to the liquidity of their underlying investments, which may be limited. The infrastructure debt loans span multiple sectors, including transport, data, utilities, and power & transition.

The Fund may also use certain derivative instruments to hedge its currency or interest rate risks, in accordance with its investment program.

Aggregator A:

Aggregator A has made loan commitments of $308 million of which $293 million was funded as of June 30, 2026. The coupons for these loans are fixed and, as of June 30, 2026, range from 8% to 11%. The maturities range from September 2027 to March 2031.

Aggregator B:

Aggregator B has made a loan commitment of $50 million, all of which was funded as of June 30, 2026. The coupon for the loan is fixed at 9% as of June 30, 2026. The maturity date is August 2027.

Aggregator D:

Aggregator D has made loan commitments of $138 million of which $89 million was funded as of June 30, 2026. The coupons for these loans are comprised of fixed and variable rates and, as of June 30, 2026, range from 8% to 10%. The maturity date ranges from June 2029 to March 2031.

Aggregator E:

Aggregator E has made a loan commitment of $142 million of which $29 million was funded as of June 30, 2026. The coupon for this loan is fixed at 12% as of June 30, 2026. The maturity date is June 2027.

Preferred Aggregator:

Preferred Aggregator has made preferred equity commitments of $86 million of which $61 million was funded as of June 30, 2026. The coupons for these instruments are fixed and, as of June 30, 2026, range from 9% to 10%. The maturities range from May 2030 to November 2030.

Golden Gate Aggregator:

Golden Gate Aggregator has made a loan commitment of $3 million of which $1 million was funded as of June 30, 2026. The coupon for this loan is fixed at 12% as of June 30, 2026. The maturity date is June 2027.

See Notes to Consolidated Financial Statements.

BROOKFIELD INFRASTRUCTURE INCOME FUND INC.

Consolidated Schedule of Investments (Unaudited) (continued)

June 30, 2026

See Notes to Consolidated Financial Statements.

BROOKFIELD INFRASTRUCTURE INCOME FUND INC.

Consolidated Schedule of Investments (Unaudited) (continued)

June 30, 2026

Foreign currency forward contracts

At June 30, 2026, the Fund had the following forward exchange contracts outstanding:

See Notes to Consolidated Financial Statements.

BROOKFIELD INFRASTRUCTURE INCOME FUND INC.

Consolidated Schedule of Investments (Unaudited) (continued)

June 30, 2026