#1+ + Brookfield Brookfield Infrastructure Partners x#2+ + Agenda 01 Year in Review 02 How the Current Environment Is Shaping Our Business Strategy 03 Optimizing Organizational Effectiveness 04 Digitalization: Data Center Platform Spotlight 05 Differentiated Full-Cycle Investment Strategy 06 Closing Remarks#3+ + Brookfield Year in Review Sam Pollock, Chief Executive Officer x#4Successful execution of our 2023 strategic priorities EV $ Strong financial position and results Demonstrated capital recycling throughout cycles Opportunistic deployment above target returns Brookfield 4#5On track to deliver solid growth... Q2 YTD FFO per Unit 10% Growth Annualized Run-Rate FFO per Unit 13% ~$3.05 Growth $1.44 $1.31 $2.71 2022 2023 2022 Q4 20231 1. Expected Q4 2023 FFO per unit annualized Brookfield 5#6...and continue our 14-year history of distribution increases 8% Distributions per unit CAGR $0.69 $1.53 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023F1 2023 distribution increase of 6% is supported by a conservative payout ratio of 68%2 1. 2023F distribution based on YTD June 30, 2023 distributions annualized 2. YTD June 30, 2023 Brookfield│ 6#71. Maintaining our commitment to a strong balance sheet BBB+ Investment-grade rated by two agencies. 90% $2.3B Long-term, fixed rate debt1 Available liquidity Excludes (i) most revolving and capital expenditure facilities and (ii) BRL denominated financing given limited availability of fixed rate debt Brookfield 7#8Fully funded our 2023 growth through asset sales and BIPC shares Capital Raised Growth ~$0.9B ~$2.8B ~$1.9B で ~$0.5B ~$0.9B ~$2.6B ~$1.2B Asset Sales BIPC Shares Transport Data ■Backlog Brookfield 8#9Demonstrated our ability to achieve strong returns through asset sales U.S. Natural Gas Pipeline New Zealand U.S. Integrated Data Distribution Gas Storage 18% IRR / 2.8x MoC 31% IRR / 2.6x MoC 15-21x EBITDA multiples Brookfield 9#10The 'Three Ds' driving growth ((!)) Digitalization Deglobalization Decarbonization TAY Trillions of dollars required across the 'Three Ds', creating strong tailwinds for infrastructure investment Brookfield 10#11Exceeded our annual deployment target Triton International 7117 1700 86 8160 LBS 43.490 LB 764 CVM TRITON TRITON Compass Datacenters Data4 TRITON TRHU 8322996 BIP investment: ~$1.2 billion Expected close¹: Sept 2023 BIP investment: ~$375 million Expected close¹: Sept/Oct 2023 BIP investment: ~$475 million Closed: Aug 2023 1. Subject to customary closing conditions Brookfield | 11#12+ + Brookfield How the Current Environment Is Shaping Our Business Strategy x#13Current 'lay of the land' ed lare 't eir she the 22son. djed Side 11. Higher interest rates A me aga H in the was a sation g was ket to e, and would Lyl that ecord breaking teen Datclitfols in es to ling Elevated inflation Enthusiasm for artificial intelligence Large infrastructure ed capex cycle 1 are 't eir she Lower economic growth the 202son. djede Scarcity of capital A me aga H Ly that ecord breaking teen Datcliffe's in es to lin Brookfield 13#14The broader economic backdrop affects our strategy in three ways 2 Investment Operational perspective posture and capital allocation 3 Corporate finance Brookfield 14#151 Operational perspective Most Impactful Factors Elevated inflation Lower economic growth Current Posture: Adapt to Current Environment ✓ Focus on margins and optimization ✓ Leverage advancements in Al Enthusiasm for artificial intelligence Brookfield 15#162 Investment posture and capital allocation Most Impactful Factors Higher interest rates $ Scarcity of capital Large infrastructure capex cycle Current Posture: Invest Boldly and Pursue Higher Risk-Adjusted Returns ✓ Invest for value in platform investments ✓ New investments underwritten at 15%+ IRRS Brookfield 16#173 Corporate finance Most Impactful Factors Higher interest rates Elevated inflation Lower economic growth Scarcity of capital Current Posture: Execute Differentiated Full-Cycle Investment Strategy ✓ Build platforms to enhance growth and maximize exit values ✓ Diversified asset base allows for best execution ✓ Focus 2024 capital recycling plan of $2 billion on de-risked and mature investments Brookfield 17#18+ + Brookfield Optimizing Organizational Effectiveness Anita Dusevic Oliva, Operating Partner x#19+ + Brookfield Artificial intelligence will significantly enhance the results of our operations-oriented approach to create value for shareholders x#20Al will provide two primary benefits to our business Revenue Generation Leverage large amounts of customer data across our 45 distinct businesses Deliver real-time data on global logistics, customer preferences and market trends Margin Enhancement Transform how businesses are run today Automate back-office processes Brookfield 20#21Al in action: Residential decarbonization platform automation HomeServe North America Call Center Automation Opportunity 45% 3.6 Million Annual Calls 55% Repair Calls Inbound Calls September 2021 Digital assistant launched April 2022 Fully automated claims processing June 2021 Customer recognition launched October 2021 Partially automated claims processing Brookfield 21#22Al in action: Automation progress Annual Repair Calls 20% Percentage of Calls Automated 15% 10% 45% 1.6 Million Annual Calls 5% 0% Jun-21 Dec-21 Jun-22 Dec-22 Jun-23 Brookfield 22#23Al in action: Automation results Average Call Time 1. Sales, Upgrades and Retention Rates 15-20% Reduction -25% Increase Before 1 After Before 1 After Based on the 5-year historical average prior to the implementation of Al Brookfield 23 23#24Al in action: The larger opportunity to expand and accelerate our growth EV Charging Solar [ Smarter Home Heat Pump Water Treatment Grey Water Recycling Geothermal enercare® Standby Back-up Power 1.1 Average products per customer 2.0+ Average products per customer Battery Storage/ HVAC Smart Panels Water Heater Whole Home Maintenance & Protection Plans 10.5M Global residential infrastructure customers 2.0 HomeServe Average policies per customer 3.0+ Average policies per customer Brookfield 24#25+ + Brookfield Our continued focus on people and processes to improve organizational effectiveness remains critical to creating shareholder value x#26A well-established approach to improving organizational effectiveness ㅁㅁㅁ 8-8 Reduce layers and eliminate bureaucracy Focus on strategic priorities Create clear P&L accountability Set the tone 'from the top' We have built successful infrastructure businesses for two decades predicated on these four key pillars Brookfield 26#27Reduce layers and eliminate bureaucracy Remove non-value-add management layers Fix inefficient processes Case Study: Inter Pipeline Organizational Structure Before ~1,800 Employees Eight Layers CEO Level 1 Level 2 Level 3 Level 4 Level 5 Level 6 Level 7 CEO Level 1 Level 2 Level 3 Level 4 Level 5 Avoid bureaucracy After ~1,250 Employees Six Layers CAD $60 million cost savings Brookfield 27#28EXIT Focus on strategic priorities THITHEAT Enwave, Canada APV Identify requirements to achieve strategic priorities Eliminate all work not needed for success Assess the use of consultants/contractors Brookfield 28#29Create clear P&L accountability Eliminate shared services Hold P&L leaders accountable Case Study: French Telecom Operation ('TDF') Before One profitability center and single management team Management Team Corporate Shared Services Combined P&L Telecom Towers, Fiber & Broadcast Operations Tie compensation plans to P&L targets Telecom Management After Distinct businesses and management teams Fiber Management Broadcast Management Telecom Fiber P&L P&L Broadcast P&L Brookfield 29 29#30Set the tone 'from the top' The Owner's Mindset: A CEO's Core Focus What we see Delegation of responsibility Strategy Corporate vs. operations split culture HR & Culture Absent in the field Health & Safety Set attainable business plans Results What we want Delegation of execution One team, one consistent culture Present in all business areas Stretch goal mindset Brookfield 30#31Significant upside for Brookfield Infrastructure Revenue generation Margin enhancement ✓ Exit value improvement Operational efficiency Proprietary intelligence Brookfield 31#32+ + Brookfield Digitalization: Data Center Platform Spotlight Udhay Mathialagan, Managing Director and Global Data Center Group CEO x#33LAFAY THE FUTURE OF DIGITALIZATION Watch Video E 11- -11-#34Data centers are an attractive asset class... $ $ Critical Infrastructure Backbone of the digital economy Highly Contracted Cash Flows Weighted average contract term of 10 years Creditworthy Counterparties Serving the largest hyperscale customers globally Strong Growth Profile Industry tailwinds created by the cloud and Al adoption Brookfield 34#35...that makes excellent platform investments Ongoing stream of organic growth opportunities ✓ Significant industry tailwinds ✓ Economies of scale Strategic partnerships with highly creditworthy counterparties Embedded capital recycling opportunities ✓ Highly financeable asset class Brookfield 35#36Investment discipline sets the foundation for platform value creation Bold Investments Strong Returns Platform Potential Two large tuck-in acquisitions in a period of market dislocation Expected returns above our 12-15% target Upside from uncontracted land bank and self-funding structure Brookfield 36#37Today, we own and operate a leading global data center platform $1.5B Invested capital United States: Canada U.K. Germany Poland France Spain Italy Israel: Mexico 485 MW Colombia Operating capacity :Brazil 905 MW Contracted and reserved capacity 2,300+ MW Total capacity Chile India Australia: South Korea New Zealand Brookfield 37 37#38Transformational growth of our data center platform... ~$30M 485 MW ~800 MW ~1,250 MW -$135M ~1,700 MW Current 2024F 2025F 2026F Operational Capacity 1 NTM FFO² 1. Gross operating capacity on a 100% basis 2. Brookfield Infrastructure's next twelve month FFO on a proportionate basis Brookfield 38#39which has been significantly de-risked Data4, France $ Secured Land & Power Highly Contracted Modular Design Brookfield 39#40Strong incremental development potential... Operational Capacity1 485 MW Planned Growth ~1,700 MW Development Potential 2,300+ MW Current 2026F 2028F 1. Gross operating capacity on a 100% basis Brookfield 40 40#41...combined with a self-funded structure... Sell operating assets To fund the platform buildout ~9-12% IRRS ~15-17% = 20%+ IRRS IRRS Ability to leverage our proven capital recycling track record to generate 20%+ returns Brookfield 41#42...creates significant platform value $1.5B ~3.5-4x MoC $5B+ 2023 Invested Capital Terminal 7-10 Year Hold Period Value Brookfield 42 42#43+ + Brookfield Differentiated Full-Cycle Investment Strategy David Krant, Chief Financial Officer x#44+ + Brookfield As part of our annual asset rotation strategy, we are buyers and sellers throughout market cycles x#45Execution tailored to the prevailing market conditions 'Seller's Market' Capital flowing freely Significant dry powder Deals of all sizes Strong growth outlook General Market Environment 'Buyer's Market' Capital scarcity Lower fundraising Larger deal sizes Lower growth outlook Brookfield 45 45#46Achieved 12-15%+ returns in all cycles by acquiring two types of businesses 1 Acquiring brownfield assets-existing infrastructure with attractive going-in yield and some growth opportunities 2 Buying platforms and greenfield developments that have lower current operating asset bases but outsized growth potential Brookfield 46 46#47We have been (and always will be) discounted cash flow investors Brownfield1 7-10% + 2-5%+ OR Going-in yield Growth/Capital appreciation 1. Percentages are illustrative in nature Platform/Greenfield1 3-5% +7-9%+ Going-in yield Growth/Capital appreciation 12-15%+ (Levered, after-tax IRRs) Brookfield 47#48We like both types of businesses: Brownfield investments (Triton) Going-in FFO accretion Brownfield Characteristics Significant Impact on growth profile Lowers future growth Leverage levels Representative Triton International Going-in yield> 15% Lower given current economic environment Investment grade Incorporated in valuation Captured Reflected in acquisition multiple Brookfield 48 42#49We like both types of businesses: Platforms (data centers) Going-in FFO accretion Platforms + Greenfield Characteristics Minimal, if any Global Data Center Platform None Impact on growth profile Leverage levels Incorporated in valuation Raises future growth Overstated due to minimal current earnings Undervalued during buildout Significantly higher (35%+ CAGR) Appear high given capex intensity and low current earnings Understated as stabilized multiples are applied to current earnings Brookfield 49 49#50Brookfield Historically, most of our investments were in the form of higher-yielding, brownfield infrastructure During this cycle, the current environment has allowed us to acquire high-growth platforms and development engines for value x#51We have recently deployed $2.5 billion across five high-quality platforms... 80 Utility Metering Australian Last-Mile Fiber North American & European Residential Decarbonization North American Data Centers European Data Centers Brookfield 51#52...and now have more platforms than ever before 10 years ago 5 years ago Today Number of platforms 1 4 9 Countries 2 5 13 Average platform growth rate 10-15% 10-15% 20%+ Percent of invested capital <5% 5-10% 25%+ Brookfield 52#53+ + Brookfield These nine platform investments represent ~25% of our invested capital but 5% of our 2023 EBITDA— they will meaningfully increase as we deliver our growth plans#54Recent platform investments have low execution risk... 100% ~$1.5B Inflation indexation Potential capital backlog Recent platform investments include utility metering, Australian last-mile fiber and our North American & European data centers -80% Backlog contracted at acquisition Brookfield 54#55...and highly visible growth in the near-to-medium term Brookfield Infrastructure EBITDA ($ Million) $10 $50 $335 $15 $150 $175 $25 Utility Metering Residential Decarbonization Australian Last-Mile Fiber 2023F ☑2028F $35 North American & European Data Centers Brookfield 55 56#56That will provide significant organic growth tailwinds for our business overall 1 Strong organic tailwinds 2 Higher values on exit Brookfield 56 56#57+ + Brookfield Our large-scale and highly diversified portfolio creates flexibility to maximize sale proceeds throughout cycles x#58Diverse sources of capital provide added flexibility... Sale of assets from within an existing platform-smaller size, focused buyers Partial selldown of a platform-different buyer group, retain control Divestiture of a platform-largest source of capital, can maximize value Optimization of existing capital structure-lowest cost, quick execution Brookfield 58 58#59... and meaningful accretion as we expect to continue to invest above our 12-15% target $2B ~9-11% Target proceeds Expected cost of capital 4 Covered sectors Low Future growth rates Brookfield 59#60Highly visible FFO per unit growth 11% FFO per unit CAGR $0.96 $1.63 $2.09 $2.95-$3.00 $2.71 2012 2016 2020 2022 2023F 12%+ FFO per unit CAGR 1-3 Year Outlook Brookfield 60#61+ + Brookfield Closing Remarks Sam Pollock, Chief Executive Officer x#62BIP is an excellent investment choice with strong growth prospects ✓ Interest rates have peaked Record backlog and organic growth prospects Prevailing market conditions allow for accretive new investments ✓ Current trading yield represents most attractive entry point since 2020 BIP is your go-to Grow-tility! Brookfield 62#63+ + Brookfield Q&A x#64+ + Brookfield Thank You x#65Notice to Recipients All amounts are in U.S. dollars unless otherwise specified. Unless otherwise indicated, the statistical and financial data in this presentation is presented as of June 30, 2023. DISCLAIMER This presentation has been prepared for informational purposes only from information supplied by Brookfield Infrastructure and from third-party sources indicated herein. Such third-party information has not been independently verified. Brookfield Infrastructure makes no representation or warranty, expressed or implied, as to the accuracy or completeness of such information. CAUTION REGARDING FORWARD-LOOKING STATEMENTS This presentation contains "forward-looking information" within the meaning of Canadian provincial securities laws and "forward-looking statements" within the meaning of applicable U.S. and Canadian securities laws. The words "expect", "estimate", "anticipate", "plan", "believe", "seek", "intend", "forecast", "project", "target" or derivatives thereof and other expressions which are predictions of or indicate future events, trends or prospects and which do not relate to historical matters identify the above mentioned and other forward-looking statements and information. Forward- looking statements and information in this presentation include statements regarding growth in FFO (as defined below) and FFO per unit; participating in a growing asset class; the likelihood and timing of successfully completing the transactions and other initiatives referred to in this presentation; the benefits of asset rotation; the ability to expand margin in an inflationary environment; the limited impacts from changes in interest and foreign exchange rates; the expansion and commissioning of our capital backlog; the ability to secure new investment opportunities as a result of current macroeconomic trends; the integration of newly acquired businesses into our existing operations; the future prospects and financing of the assets that Brookfield Infrastructure operates or will operate; our intention to maintain an investment grade credit rating; the continued growth and expansion of Brookfield Infrastructure and its businesses; future revenue and distribution growth prospects in general and other statements with respect to our beliefs, outlooks, plans, expectations and intentions. These forward-looking statements and information are not historical facts but reflect our current expectations regarding future results or events and are based on information currently available to us and on assumptions we believe are reasonable. Although we believe that our anticipated future results, performance or achievements expressed or implied by these forward-looking statements and information are based on reasonable assumptions and expectations, the reader should not place undue reliance on forward- looking statements and information because they involve assumptions, known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to differ materially from anticipated future results, performance or achievements expressed or implied by these forward-looking statements and information. These beliefs, assumptions and expectations can change as a result of many possible events or factors, not all of which are known to us or are within our control. If a change occurs, our business, financial condition, liquidity and results of operations and our plans and strategies may vary materially from those expressed in the forward-looking statements and information herein. Factors that could cause actual results of Brookfield Infrastructure to differ materially from those contemplated or implied by the statements in this presentation include general economic and political conditions in the jurisdictions in which we operate and elsewhere which may impact the markets for our products and services, the ability to achieve growth within Brookfield Infrastructure's businesses and in particular completion on time and on budget of various large capital projects, which themselves depend on access to capital and continuing favorable commodity prices, the impact of market conditions on our businesses, the fact that success of Brookfield Infrastructure is dependent on market demand for an infrastructure company, which is unknown, the performance of global capital markets, the availability and terms of equity and debt financing for Brookfield Infrastructure, the ability to effectively complete transactions in the competitive infrastructure space (including the ability to complete announced and potential transactions that may be subject to conditions precedent, and the inability to reach final agreement with counterparties to transactions being currently pursued, given that there can be no assurance that any such transaction will be agreed to or completed) and to integrate acquisitions into existing operations, the future performance of these acquisitions, the market conditions of key commodities, the price, supply or demand for which can have a significant impact upon the financial and operating performance of our business, changes in technology which have the potential to disrupt the business and industries in which we invest, uncertainty with respect to future sources of investment opportunities, our ability to achieve the milestones necessary to deliver the targeted returns to our unitholders, our active pipeline of new investment opportunities and growing backlog of committed organic growth capital expenditure projects may not be completed as planned, and other risks and factors described in the documents filed by Brookfield Infrastructure Partners L.P. (the "Partnership") with the securities regulators in Canada and the United States including under "Risk Factors" in the Partnership's most recent Annual Report on Form 20-F, its most recent interim report, and the prospectus qualifying the special distribution of BIPC's shares. Except as required by law, Brookfield Infrastructure undertakes no obligation to publicly update or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise. IMPORTANT NOTE REGARDING NON-IFRS FINANCIAL MEASURES To measure performance we focus on net income as well as funds from operations ("FFO"), adjusted funds from operations ("AFFO"), adjusted EBITDA, rate base, return on rate base, adjusted EBITDA to interest ratio, consolidated leverage, corporate interest coverage, constant currency basis and adjusted EBITDA margin, which we refer to throughout this presentation. We define FFO as net income excluding the impact of depreciation and amortization, deferred income taxes, breakage and transaction costs and non-cash valuation gains or losses. We define AFFO as FFO less maintenance capital expenditures. We define adjusted EBITDA as net income excluding the impact of depreciation and amortization, interest expense, current and deferred income taxes, breakage and transaction costs and non-cash valuation gains or losses. We define rate base as a regulated or notionally stipulated asset base. We define return on rate base as adjusted EBITDA divided by time weighted average rate base. We define adjusted EBITDA to interest ratio as adjusted EBITDA divided by interest expense on a proportionate basis, taking into account Brookfield Infrastructure's ownership in operations. We define consolidated leverage as net debt divided by net debt plus the market value of Brookfield Infrastructure based on the closing price of Brookfield Infrastructure's units on the New York Stock Exchange (assuming full conversion of Brookfield's interest in Brookfield Infrastructure into units of Brookfield Infrastructure). We define corporate interest coverage as AFFO plus interest expense incurred on corporate debt divided by interest expense incurred on corporate debt. We define constant currency basis as current period earnings translated at prior period foreign exchange rates which allows the Partnership to remove the impact of changes in rates from our operating results. We define adjusted EBITDA margin as adjusted EBITDA divided by revenues. These measures are not calculated in accordance with, and do not have any standardized meaning prescribed by International Financial Reporting Standards ("IFRS"). These measures are therefore unlikely to be comparable to similar measures presented by other issuers. These measures have limitations as analytical tools. See the Reconciliation of Non-IFRS Financial Measures section of the Partnership's most recent Annual Report on Form 20-F and most recent interim report for a more fulsome discussion including reconciliations to the most directly comparable IFRS measures. Brookfield 65 65