<SEC-DOCUMENT>0001104659-24-066946.txt : 20240531
<SEC-HEADER>0001104659-24-066946.hdr.sgml : 20240531
<ACCEPTANCE-DATETIME>20240531091604
ACCESSION NUMBER:		0001104659-24-066946
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		10
CONFORMED PERIOD OF REPORT:	20240531
FILED AS OF DATE:		20240531
DATE AS OF CHANGE:		20240531

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Brookfield Infrastructure Partners L.P.
		CENTRAL INDEX KEY:			0001406234
		STANDARD INDUSTRIAL CLASSIFICATION:	WATER TRANSPORTATION [4400]
		ORGANIZATION NAME:           	01 Energy & Transportation
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			D0
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33632
		FILM NUMBER:		241007940

	BUSINESS ADDRESS:	
		STREET 1:		73 FRONT STREET
		CITY:			HAMILTON
		STATE:			D0
		ZIP:			HM12
		BUSINESS PHONE:		441 296-4480

	MAIL ADDRESS:	
		STREET 1:		73 FRONT STREET
		CITY:			HAMILTON
		STATE:			D0
		ZIP:			HM12
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>tm2415565d4_6k.htm
<DESCRIPTION>FORM 6-K
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM&nbsp;6-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>REPORT OF FOREIGN PRIVATE ISSUER</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PURSUANT TO RULE 13a-16 OR 15d-16</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNDER THE SECURITIES EXCHANGE ACT OF 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>For the month of May&nbsp;2024</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Commission file number&nbsp;001-33632</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 24pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>BROOKFIELD INFRASTRUCTURE PARTNERS&nbsp;L.P.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Exact name of Registrant as specified in its
charter)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>73&nbsp;Front Street, Fifth Floor</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Hamilton, HM 12</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Bermuda</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Address of principal executive office)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark whether the registrant files or will file annual
reports under cover of Form&nbsp;20-F or Form&nbsp;40-F.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form&nbsp;20-F&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#120;</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Form&nbsp;40-F&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
exhibits to this Form&nbsp;6-K are incorporated by reference into the registrant&rsquo;s registration statement on Form&nbsp;F-3ASR filed
with the Securities and Exchange Commission (the &ldquo;<B>SEC</B>&rdquo;) on</FONT> April&nbsp;5, 2024 (File No.&nbsp;333-278529).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Exhibit&nbsp;Index</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center; width: 10%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Exhibit</B></FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; padding-left: 0.1in; text-align: center; width: 89%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Description</B></FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; padding-left: 0.1in"><A HREF="tm2415565d4_ex1-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.1</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 8.4pt; text-align: justify"><A HREF="tm2415565d4_ex1-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Underwriting Agreement dated May&nbsp;29, 2024, by and among Brookfield Infrastructure Finance ULC, Brookfield Infrastructure Partners L.P., Brookfield Infrastructure L.P., BIP Bermuda Holdings I Limited, Brookfield Infrastructure Holdings (Canada) Inc., Brookfield Infrastructure LLC, BIPC Holdings Inc., and the underwriters party thereto.</FONT></A></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 8.4pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; padding-left: 0.1in"><A HREF="tm2415565d4_ex4-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.1</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 8.4pt; text-align: justify"><A HREF="tm2415565d4_ex4-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Second Supplemental Indenture dated May&nbsp;31, 2024, by and among Brookfield Infrastructure Partners L.P., Brookfield Infrastructure L.P., BIP Bermuda Holdings I Limited, Brookfield Infrastructure Holdings (Canada) Inc., Brookfield Infrastructure LLC and BIPC Holdings Inc., as guarantors, Brookfield Infrastructure Finance ULC, as issuer, Computershare Trust Company of Canada, as Canadian trustee, and Computershare Trust Company N.A., as U.S. trustee.</FONT></A></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 8.4pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; padding-left: 0.1in"><A HREF="tm2415565d4_ex4-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.2</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 8.4pt"><A HREF="tm2415565d4_ex4-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form&nbsp;of 7.250% Subordinated Notes due 2084 (included as Annex A to Exhibit&nbsp;4.1).</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; padding-left: 0.1in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 8.4pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; padding-left: 0.1in; text-align: justify"><A HREF="tm2415565d4_ex4-3.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.3</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 8.4pt; text-align: justify"><A HREF="tm2415565d4_ex4-3.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sixth Amendment, dated May&nbsp;31, 2024, to the Amended and Restated Limited Partnership Agreement, dated February&nbsp;16, 2018, of Brookfield Infrastructure Partners L.P.</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; padding-left: 0.1in; text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 8.4pt; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; padding-left: 0.1in; text-align: justify"><A HREF="tm2415565d4_ex4-4.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.4</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 8.4pt; text-align: justify"><A HREF="tm2415565d4_ex4-4.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ninth Amendment, dated May&nbsp;31, 2024, to the Amended and Restated Limited Partnership Agreement, dated February&nbsp;16, 2018, of Brookfield Infrastructure L.P.</FONT></A></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 8.4pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; padding-left: 0.1in"><A HREF="tm2415565d4_ex5-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.1</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 8.4pt"><A HREF="tm2415565d4_ex5-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Opinion of Torys LLP as to matters of New York, Ontario and Alberta law, dated May&nbsp;31, 2024.</FONT></A></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 8.4pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; padding-left: 0.1in"><A HREF="tm2415565d4_ex5-2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.2</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 8.4pt"><A HREF="tm2415565d4_ex5-2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Opinion of Appleby (Bermuda) Limited as to matters of Bermuda law, dated May&nbsp;31, 2024.</FONT></A></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 8.4pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; padding-left: 0.1in"><A HREF="tm2415565d4_ex5-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">23.1</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 8.4pt"><A HREF="tm2415565d4_ex5-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consent of Torys LLP (included as part of Exhibit&nbsp;5.1).</FONT></A></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 8.4pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; padding-left: 0.1in"><A HREF="tm2415565d4_ex23-2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">23.2</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 8.4pt"><A HREF="tm2415565d4_ex23-2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consent of Goodmans LLP, dated May&nbsp;31, 2024.</FONT></A></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
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    <TD STYLE="padding-left: 0.1in">&nbsp;</TD>
    <TD STYLE="padding-left: 0.1in">&nbsp;</TD>
    <TD COLSPAN="2">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>BROOKFIELD
    INFRASTRUCTURE PARTNERS&nbsp;L.P.</B></FONT>,</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">by its general partner, <B>BROOKFIELD INFRASTRUCTURE PARTNERS LIMITED</B></P></TD></TR>
  <TR>
    <TD STYLE="width: 41%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 54%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date: May&nbsp;31, 2024</FONT></TD>
    <TD STYLE="padding-left: 0.1in">&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ </FONT>Jane Sheere</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.1in">&nbsp;</TD>
    <TD STYLE="padding-left: 0.1in">&nbsp;</TD>
    <TD STYLE="padding-left: 0.1in">&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name: Jane Sheere</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.1in">&nbsp;</TD>
    <TD STYLE="padding-left: 0.1in">&nbsp;</TD>
    <TD STYLE="padding-left: 0.1in">&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title: Secretary</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<DOCUMENT>
<TYPE>EX-1.1
<SEQUENCE>2
<FILENAME>tm2415565d4_ex1-1.htm
<DESCRIPTION>EXHIBIT 1.1
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 1.1&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-size: 10pt"><B><I>Execution Version</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNDERWRITING AGREEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 473.25pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">May</FONT><B>&nbsp;</B>29,
2024</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Brookfield Infrastructure Finance ULC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">$150,000,000 7.250% Subordinated Notes due 2084</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Underwriting Agreement</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">181 Bay Street, Suite&nbsp;100</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Brookfield Place</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Toronto, Ontario</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Canada M5J 2T3</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Wells Fargo Securities, LLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">BofA Securities,&nbsp;Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">J.P. Morgan Securities LLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Morgan Stanley&nbsp;&amp; Co. LLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">RBC Capital Markets, LLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">UBS Securities LLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">As Representatives of the several Underwriters
listed in Schedule 1 hereto</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">c/o Wells Fargo Securities, LLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">550 South Tryon Street, 5th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Charlotte, North Carolina 28202</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">c/o BofA Securities,&nbsp;Inc.<BR>
One Bryant Park<BR>
New York, New York 10036</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">c/o J.P. Morgan Securities LLC<BR>
383 Madison Avenue<BR>
New York, New York 10179</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">c/o Morgan Stanley&nbsp;&amp; Co. LLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">1585 Broadway</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">New York, New York 10036</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">c/o RBC Capital Markets, LLC<BR>
Brookfield Place</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">200 Vesey Street, 8th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New York, NY 10281</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">c/o UBS Securities LLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">1285 Avenue of the Americas</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New York, New York 10019</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Dear Sirs/Mesdames:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Brookfield
Infrastructure Finance ULC (the &ldquo;<B>Company</B>&rdquo;), an unlimited liability company organized under the laws of Alberta, Canada,
</FONT>proposes to issue and sell to the several underwriters listed in Schedule 1 hereto (the &ldquo;<B>Underwriters</B>&rdquo;), for
whom you are acting as representatives (the &ldquo;<B>Representatives</B>&rdquo;), the respective amounts set forth in such Schedule 1
of $150,000,000 aggregate principal amount of 7.250% Subordinated Notes due 2084 (the &ldquo;<B>Firm Notes</B>&rdquo;) and also proposes
to issue and sell to the Underwriters, at the option of the Underwriters, an aggregate amount of not more than $22,500,000 aggregate principal
amount of its 7.250% Subordinated Notes due 2084 (the <B>&ldquo;Optional Notes&rdquo;</B> and, together with the Firm Notes, the &ldquo;<B>Notes</B>&rdquo;).
The Notes are to be fully and unconditionally guaranteed, on a subordinated basis (the &ldquo;<B>Guarantees</B>&rdquo;, and, together
with the Notes, the &ldquo;<B>Securities</B>&rdquo;), by Brookfield Infrastructure Partners L.P. (&ldquo;<B>BIP</B>&rdquo;), Brookfield
Infrastructure L.P., BIP Bermuda Holdings I Limited, Brookfield Infrastructure Holdings (Canada) Inc., Brookfield Infrastructure LLC and
BIPC Holdings Inc., each a majority owned subsidiary of BIP (collectively, the &ldquo;<B>Guarantors</B>&rdquo;). Brookfield Infrastructure
Partners Limited, an exempted company existing under the laws of Bermuda is the general partner (the &ldquo;<B>General Partner</B>&rdquo;)
of BIP.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Subject to the terms and conditions
set forth in this Agreement, the Underwriters severally and not jointly offer to purchase the respective aggregate principal amount of
Securities set forth opposite such Underwriter&rsquo;s name in Schedule 1 hereto at a purchase price of 96.85% of the principal amount
of the Notes sold to retail investors and 98.00% of the principal amount of the Notes sold to institutional investors, and by its acceptance
of this offer the Company agrees to issue and sell the Securities to the Underwriters. All dollar amounts referred to herein are expressed
in United States dollars and &ldquo;$&rdquo; shall mean United States dollars, except where otherwise indicated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Notes are to be issued
pursuant to the indenture, dated as of May&nbsp;24, 2021 (the &ldquo;<B>Base Indenture</B>&rdquo;), as supplemented by a second supplemental
indenture, to be dated as of May&nbsp;31, 2024 (the &ldquo;<B>Second Supplemental Indenture</B>&rdquo; and, together with the Base Indenture,
the &ldquo;<B>Indenture</B>&rdquo;), between the Company, the Guarantors, Computershare Trust Company, N.A., as U.S. trustee (the &ldquo;<B>U.S.
Trustee</B>&rdquo;) and Computershare Trust Company of Canada, as Canadian trustee (the &ldquo;<B>Canadian Trustee</B>&rdquo;, and together
with the U.S. Trustee, in such capacities, the &ldquo;<B>Trustees</B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">To the extent there are no
additional Underwriters listed on Schedule 1 other than you, the term &ldquo;Representatives&rdquo; as used herein shall mean you, as
Underwriters, and the terms &ldquo;Representatives&rdquo; and &ldquo;Underwriters&rdquo; shall mean either the singular or plural as the
context requires. The use of the neuter in this Agreement shall include the feminine and masculine wherever appropriate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company and the Guarantors
hereby jointly and severally confirm their agreement with the several Underwriters concerning the purchase and sale of the Securities,
as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>1</B></TD><TD><B>Definitions</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">1.1</TD><TD STYLE="text-align: justify">Unless otherwise defined in this Agreement, the following terms shall have the following meanings, respectively:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">&ldquo;<B>this Agreement</B>&rdquo;, &ldquo;<B>hereto</B>&rdquo;, &ldquo;<B>herein</B>&rdquo;, &ldquo;<B>hereunder</B>&rdquo;,
 &ldquo;<B>hereof</B>&rdquo; and similar expressions refer to the agreement resulting from the acceptance by the Company of this offer
and not to any particular section or other portion of this Agreement;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">&ldquo;<B>affiliate</B>&rdquo; has the meaning set forth in Rule&nbsp;405 under the Securities Act;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">&ldquo;<B>Agreements and Instruments</B>&rdquo; has the meaning ascribed thereto in Section&nbsp;11.1(k)&nbsp;hereof;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">&ldquo;<B>Applicable Securities Laws</B>&rdquo; means the Canadian Securities Laws and the Securities
Laws;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(e)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&ldquo;<B>Applicable Time</B>&rdquo; means </FONT>4:25
p.m.&nbsp;ET on the date hereof;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(f)</TD><TD STYLE="text-align: justify">&ldquo;<B>Audit Committee</B>&rdquo; has the meaning ascribed thereto in Section&nbsp;11.1(v)&nbsp;hereof;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(g)</TD><TD STYLE="text-align: justify">&ldquo;<B>Base Indenture</B>&rdquo; has the meaning ascribed thereto in the third paragraph of this Agreement;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(h)</TD><TD STYLE="text-align: justify">&ldquo;<B>Base Prospectus</B>&rdquo; has the meaning ascribed thereto in Section&nbsp;11.1(gg) hereof;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">&ldquo;<B>BHC Act Affiliate</B>&rdquo; has the meaning ascribed thereto in Section&nbsp;22 hereof;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(j)</TD><TD STYLE="text-align: justify">&ldquo;<B>BIP</B>&rdquo; has the meaning ascribed thereto in the first paragraph of this Agreement;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(k)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&ldquo;</FONT><B>BIP Entities</B>&rdquo; means
the entities listed on Schedule B to this Agreement;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(l)</FONT></TD><TD STYLE="text-align: justify"><B>&ldquo;BIP Group&rdquo; </B>means BIP collectively with Brookfield Infrastructure L.P., Brookfield
Infrastructure Corporation, the Holding Entities, the Operating Entities and any other direct or indirect subsidiary of a Holding&nbsp;Entity;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(m)</FONT></TD><TD STYLE="text-align: justify"><B>&ldquo;Brookfield&rdquo; </B>means Brookfield Corporation and any affiliate of Brookfield Corporation,
other than the BIP Group and including Brookfield Asset Management Ltd.;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(n)</TD><TD STYLE="text-align: justify">&ldquo;<B>business day</B>&rdquo; means a day other than a Saturday, a Sunday or a statutory holiday in
New York, New York or the City of Toronto, Ontario;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(o)</TD><TD STYLE="text-align: justify">&ldquo;<B>Canadian Securities Laws</B>&rdquo; means the securities acts or similar statutes of the Qualifying
Jurisdictions and all regulations, rules, policy statements, notices and blanket orders or rulings thereunder applicable to the Company;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(p)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&ldquo;</FONT><B>Canadian Trustee</B>&rdquo;
has the meaning ascribed thereto in the third paragraph of this Agreement;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(q)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&ldquo;</FONT><B>Class&nbsp;A Preferred Units</B>&rdquo;
has the meaning ascribed thereto in Section&nbsp;11.1(f).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(r)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&ldquo;<B>Closing Date</B>&rdquo; means May&nbsp;</FONT>31,
2024 or such earlier or later date, as the Underwriters and the Company may agree upon in writing;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(s)</TD><TD STYLE="text-align: justify">&ldquo;<B>Closing Time</B>&rdquo; has the meaning ascribed thereto in Section&nbsp;10.2 hereof;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(t)</TD><TD STYLE="text-align: justify">&ldquo;<B>Company</B>&rdquo; has the meaning ascribed thereto in the first paragraph of this Agreement;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(u)</TD><TD STYLE="text-align: justify">&ldquo;<B>Covered Entity</B>&rdquo; has the meaning ascribed thereto in Section&nbsp;22 hereof;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(v)</TD><TD STYLE="text-align: justify">&ldquo;<B>Default Right</B>&rdquo; has the meaning ascribed thereto in Section&nbsp;22 hereof;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(w)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&ldquo;<B>Disclosure Package</B>&rdquo; means
the Base Prospectus, as amended and supplemented by the Preliminary Prospectus dated May&nbsp;</FONT>29, 2024, the other information,
if any, stated in Schedule A to this Agreement and each &ldquo;free-writing prospectus&rdquo; (as defined pursuant to Rule&nbsp;405 under
the Securities Act) listed on Schedule A hereto;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(x)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&ldquo;</FONT><B>DTC</B>&rdquo; has the meaning
ascribed thereto in Section&nbsp;10.5 hereof;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(y)</TD><TD STYLE="text-align: justify">&ldquo;<B>Environmental Laws</B>&rdquo; has the meaning ascribed thereto in Section&nbsp;11.1(r)&nbsp;hereof;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(z)</TD><TD STYLE="text-align: justify">&ldquo;<B>Exchange Act</B>&rdquo; means the <I>U.S. Securities Exchange Act of 1934</I>, as amended, and
the rules&nbsp;and regulations promulgated thereunder;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(aa)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&ldquo;</FONT><B>Exchange Preferred Units</B>&rdquo;
means units of a newly-issued series of Class&nbsp;A Preferred Units, which will be Series&nbsp;16, into which the Notes, including accrued
and unpaid interest thereon, will be exchanged automatically without the consent or action of the holders thereof upon the occurrence
of certain events relating to bankruptcy and related events as described in the Prospectus;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(bb)</TD><TD STYLE="text-align: justify">&ldquo;<B>Exchanges</B>&rdquo; means the TSX and the NYSE;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(cc)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&ldquo;</FONT><B>Existing Canadian Preferred
Units</B>&rdquo; has the meaning ascribed thereto in Section&nbsp;11.1(f)&nbsp;hereof.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(dd)</TD><TD STYLE="text-align: justify">&ldquo;<B>General Partner</B>&rdquo; has the meaning ascribed thereto in the first paragraph of this Agreement;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(ee)</TD><TD STYLE="text-align: justify">&ldquo;<B>Governmental Licenses</B>&rdquo; has the meaning ascribed thereto in Section&nbsp;11.1(p)&nbsp;hereof;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(ff)</TD><TD STYLE="text-align: justify">&ldquo;<B>Guarantees</B>&rdquo; has the meaning ascribed thereto in the first paragraph of this Agreement;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(gg)</TD><TD STYLE="text-align: justify">&ldquo;<B>Guarantors</B>&rdquo; has the meaning ascribed thereto in the first paragraph of this Agreement;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(hh)</TD><TD STYLE="text-align: justify">&ldquo;<B>Hazardous Materials</B>&rdquo; has the meaning ascribed thereto in Section&nbsp;11.1(r)&nbsp;hereof;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(ii)</FONT></TD><TD STYLE="text-align: justify"><B>&ldquo;Holding Entities&rdquo; </B>means certain holding subsidiaries of Brookfield Infrastructure
L.P., from time-to-time, through which BIP holds all of its interests in its Operating Entities;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(jj)</TD><TD STYLE="text-align: justify">&ldquo;<B>IFRS</B>&rdquo; has the meaning ascribed thereto in Section&nbsp;11.1(c)(i)&nbsp;hereof;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(kk)</TD><TD STYLE="text-align: justify">&ldquo;<B>Indemnified Company Parties</B>&rdquo; has the meaning ascribed thereto in Section&nbsp;17.3
hereof;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(ll)</TD><TD STYLE="text-align: justify">&ldquo;<B>Indemnified Parties</B>&rdquo; has the meaning ascribed thereto in Section&nbsp;17.3 hereof;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(mm)</TD><TD STYLE="text-align: justify">&ldquo;<B>Indemnified Underwriter Parties</B>&rdquo; has the meaning ascribed thereto in Section&nbsp;17.1
hereof;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(nn)</TD><TD STYLE="text-align: justify">&ldquo;<B>Indemnifying Party</B>&rdquo; has the meaning ascribed thereto in Section&nbsp;17.5 hereof;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(oo)</TD><TD STYLE="text-align: justify">&ldquo;<B>Indenture</B>&rdquo; has the meaning ascribed thereto in the third paragraph of this Agreement;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(pp)</TD><TD STYLE="text-align: justify">&ldquo;<B>Investment Company Act</B>&rdquo; means the <I>U.S. Investment Company Act of 1940</I>, as amended,
and the rules&nbsp;and regulations promulgated thereunder;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(qq)</TD><TD STYLE="text-align: justify">&ldquo;<B>Issuer Free Writing Prospectus</B>&rdquo; means any &ldquo;issuer free writing prospectus&rdquo;,
as defined in Rule&nbsp;433 under the Securities Act, relating to the Securities in the form filed or required to be filed with the SEC
or, if not required to be filed, in the form retained in the Company&rsquo;s records pursuant to Rule&nbsp;433(g)&nbsp;under the Securities
Act;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(rr)</TD><TD STYLE="text-align: justify">&ldquo;<B>IT Systems</B>&rdquo; has the meaning ascribed thereto in Section&nbsp;11.1(ss) hereof;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(ss)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&ldquo;</FONT><B>LP Units</B>&rdquo; has the
meaning ascribed thereto in Section&nbsp;16.1 hereof;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(tt)</TD><TD STYLE="text-align: justify">&ldquo;<B>material</B>&rdquo; or &ldquo;<B>materially</B>&rdquo;, when used in relation to BIP or the
BIP Entities, means material in relation to the BIP Entities on a consolidated basis;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(uu)</TD><TD STYLE="text-align: justify">&ldquo;<B>Material Adverse Effect</B>&rdquo; shall have the meaning ascribed thereto in Section&nbsp;11.1(d)&nbsp;hereof;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(vv)</TD><TD STYLE="text-align: justify">&ldquo;<B>Notes</B>&rdquo; has the meaning ascribed thereto in the first paragraph of this Agreement;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(ww)</TD><TD STYLE="text-align: justify">&ldquo;<B>NYSE</B>&rdquo; means the New York Stock Exchange;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(xx)</TD><TD STYLE="text-align: justify">&ldquo;<B>NYSE Rules</B>&rdquo; means the rules&nbsp;of the NYSE;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(yy)</TD><TD STYLE="text-align: justify">&ldquo;<B>OFAC</B>&rdquo; has the meaning ascribed thereto in Section&nbsp;11.1(y)&nbsp;hereof;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(zz)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&ldquo;</FONT><B>Operating Entities</B>&rdquo;
means the entities which directly or indirectly hold BIP&rsquo;s current operations and assets that it may acquire in the future, including
any assets held through joint ventures, partnerships and consortium arrangements;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(aaa)</TD><TD STYLE="text-align: justify"><B>&ldquo;Optional Notes</B>&rdquo; has the meaning ascribed thereto in the first paragraph of this Agreement;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(bbb)</TD><TD STYLE="text-align: justify"><B>&ldquo;Option Closing Date</B>&rdquo; has the meaning ascribed thereto in Section&nbsp;5.1 hereof;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(ccc)</TD><TD STYLE="text-align: justify"><B>&ldquo;Option Closing Time</B>&rdquo; means 10:00 a.m.&nbsp;(New York City time) on the Option Closing
Date, or such other time as the Underwriters and the Company may agree upon in writing;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(ddd)</TD><TD STYLE="text-align: justify">&ldquo;<B>Personal Data</B>&rdquo; has the meaning ascribed thereto in Section&nbsp;11.1(ss) hereof;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(eee)</TD><TD STYLE="text-align: justify">&ldquo;<B>Preferred Units</B>&rdquo; means the preferred limited partnership units of BIP;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(fff)</TD><TD STYLE="text-align: justify">&ldquo;<B>Preliminary Prospectus</B>&rdquo; has the meaning ascribed thereto in Section&nbsp;11.1(gg)
hereof;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(ggg)</TD><TD STYLE="text-align: justify">&ldquo;<B>Prospectus</B>&rdquo; has the meaning ascribed thereto in Section&nbsp;11.1(gg) hereof;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(hhh)</TD><TD STYLE="text-align: justify">&ldquo;<B>Prospectus Delivery Period</B>&rdquo; means such period of time after the first date of the
public offering of the Securities as in the opinion of counsel for the Underwriters a prospectus relating to such Securities is required
by law to be delivered (or required to be delivered but for Rule&nbsp;172 under the Securities Act) in connection with sales of such Securities
by any Underwriter or dealer;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">&ldquo;<B>Qualifying Jurisdictions</B>&rdquo; means each of the provinces and territories of Canada;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(jjj)</TD><TD STYLE="text-align: justify">&ldquo;<B>Registration Statement</B>&rdquo; has the meaning ascribed thereto in Section&nbsp;11.1(gg)
hereof;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(kkk)</TD><TD STYLE="text-align: justify">&ldquo;<B>Repayment Event</B>&rdquo; has the meaning ascribed thereto in Section&nbsp;11.1(k)&nbsp;hereof;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(lll)</TD><TD STYLE="text-align: justify">&ldquo;<B>Representatives</B>&rdquo; has the meaning ascribed thereto in the first paragraph of this Agreement;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(mmm)</TD><TD STYLE="text-align: justify">&ldquo;<B>Rules&nbsp;and Regulations</B>&rdquo; means the rules&nbsp;and regulations of the SEC;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(nnn)</TD><TD STYLE="text-align: justify">&ldquo;<B>Sanctioned Country</B>&rdquo; has the meaning ascribed thereto in Section&nbsp;11.1(y)&nbsp;hereof;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(ooo)</TD><TD STYLE="text-align: justify">&ldquo;<B>Sanctions</B>&rdquo; has the meaning ascribed thereto in Section&nbsp;11.1(y)&nbsp;hereof;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(ppp)</TD><TD STYLE="text-align: justify">&ldquo;<B>SEC</B>&rdquo; means the U.S. Securities and Exchange Commission;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(qqq)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&ldquo;</FONT><B>Second Supplemental Indenture</B>&rdquo;
has the meaning ascribed thereto in the third paragraph of this Agreement;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(rrr)</TD><TD STYLE="text-align: justify">&ldquo;<B>Securities</B>&rdquo; has the meaning ascribed thereto in the first paragraph of this Agreement;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(sss)</TD><TD STYLE="text-align: justify">&ldquo;<B>Securities Act</B>&rdquo; means the <I>U.S. Securities Act of 1933</I>, as amended, and the
rules&nbsp;and regulations promulgated thereto;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(ttt)</TD><TD STYLE="text-align: justify">&ldquo;<B>Securities Commissions</B>&rdquo; means the securities commission or other securities regulatory
authority in each of the Qualifying Jurisdictions;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(uuu)</TD><TD STYLE="text-align: justify">&ldquo;<B>Securities Laws</B>&rdquo; means, collectively, the <I>Sarbanes-Oxley Act of 2002</I>, as amended,
and the rules&nbsp;and regulations promulgated thereunder (&ldquo;<B>Sarbanes-Oxley</B>&rdquo;), the Securities Act, the Exchange Act,
the Rules&nbsp;and Regulations, the auditing principles, rules, standards and practices applicable to auditors of &ldquo;issuers&rdquo;
(as defined in Sarbanes-Oxley) promulgated or approved by the Public Company Accounting Oversight Board and, as applicable, NYSE Rules;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(vvv)</TD><TD STYLE="text-align: justify">&ldquo;<B>Special Resolution Regime</B>&rdquo; has the meaning ascribed thereto in Section&nbsp;22 hereof;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(www)</TD><TD STYLE="text-align: justify">&ldquo;<B>Subsequent Disclosure Documents</B>&rdquo; means any filings with the SEC after the date of
this Agreement which are incorporated by reference into the Registration Statement;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(xxx)</TD><TD STYLE="text-align: justify">&ldquo;<B>subsidiary</B>&rdquo; has the meaning set forth in Rule&nbsp;405 under the Securities Act;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(yyy)</FONT></TD><TD STYLE="text-align: justify">&ldquo;<B>Triton</B>&rdquo; means Triton International Limited, a global intermodal logistics operation,
which BIP acquired through its subsidiary Brookfield Infrastructure Corporation on September&nbsp;28, 2023.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(zzz)</FONT></TD><TD STYLE="text-align: justify">&ldquo;<B>Trust Indenture Act</B>&rdquo; has the meaning ascribed thereto in Section&nbsp;11.1(gg) hereof;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(aaaa)</TD><TD STYLE="text-align: justify">&ldquo;<B>Trustee</B>&rdquo; has the meaning ascribed thereto in the third paragraph of this Agreement;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(bbbb)</TD><TD STYLE="text-align: justify">&ldquo;<B>TSX&rdquo; </B>means the Toronto Stock Exchange;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(cccc)</TD><TD STYLE="text-align: justify">&ldquo;<B>U.S. Trustee</B>&rdquo; has the meaning ascribed thereto in the third paragraph of this Agreement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(dddd)</TD><TD STYLE="text-align: justify">&ldquo;<B>Underwriters</B>&rdquo; has the meaning ascribed thereto in the first paragraph of this Agreement;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(eeee)</TD><TD STYLE="text-align: justify">&ldquo;<B>Underwriting Commissions</B>&rdquo; has the meaning ascribed thereto in Section&nbsp;10.1 hereof;
and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(ffff)</TD><TD STYLE="text-align: justify">&ldquo;<B>Underwriting Information</B>&rdquo; has the meaning ascribed thereto in Section&nbsp;17.3 hereof.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Other terms which are defined elsewhere in this
Agreement have the meanings so ascribed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>2</B></TD><TD><B>[Reserved]</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>3</B></TD><TD><B>Filing of Prospectuses</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">3.1</TD><TD STYLE="text-align: justify">The Company and the Guarantors, as applicable, shall:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">file the Prospectus with the SEC within the time periods specified by Rule&nbsp;424(b)&nbsp;and Rule&nbsp;430A,
430B or 430C under the Securities Act; file any Issuer Free Writing Prospectus to the extent required by Rule&nbsp;433 under the Securities
Act; file promptly all reports and any other information required to be filed by BIP with the SEC pursuant to Sections 13(a), 13(c), 14
or 15(d)&nbsp;of the Exchange Act subsequent to the date of the Prospectus and for so long as the delivery of a prospectus is required
in connection with the offer or sale of the Securities;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">pay the SEC registration fee for this offering within the time period required by Rule&nbsp;456(b)(1)&nbsp;under
the Securities Act and in any event prior to the Closing Date or the Option Closing Date, as applicable; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">qualify the Securities for offer and sale under the securities or Blue Sky laws of such jurisdictions
as the Representatives shall reasonably request and will continue such qualifications in effect so long as required for distribution of
the Securities; <U>provided</U> that neither the Company nor any Guarantor shall be required to (i)&nbsp;qualify as a foreign corporation
or other entity or as a dealer in securities in any such jurisdiction where it would not otherwise be required to so qualify, (ii)&nbsp;file
any general consent to service of process in any such jurisdiction or (iii)&nbsp;subject itself to taxation in any such jurisdiction if
it is not otherwise so subject.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>4</B></TD><TD><B>[Reserved]</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>5</B></TD><TD><B>Optional Notes</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">5.1</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The Company hereby grants an option to the several
Underwriters to purchase, severally and not jointly, up to $22,500,000 aggregate principal amount of Optional Notes on the same terms
as the sale of the Firm Notes, plus accrued interest, if any, from, and including, the Closing Date to the Option Closing Date, less the
Underwriting Commission (which, for the avoidance of doubt, does not apply to any accrued interest payable for the Optional Notes). Such
option may be exercised in whole or in part at any time on or before the 30th day after the date of the Prospectus upon written notice
by the Representatives to the Company setting forth the aggregate principal amount of Optional Notes as to which the several Underwriters
are exercising the option and the time and date of payment and delivery for such Optional Notes (the </FONT><B>&ldquo;Option Closing Date&rdquo;</B>),
which shall be determined by the Representatives and may be the Closing Date, but shall not be later than three full business days after
the exercise of such option, nor in any event prior to the Closing Date. If any Optional Notes are to be purchased, the number of Optional
Notes to be purchased by each Underwriter shall be based upon the same percentage of the total number of the Optional Notes to be purchased
by the several Underwriters as such Underwriter is purchasing of the Firm Notes, subject to such adjustments as the Representatives in
their absolute discretion shall make.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>6</B></TD><TD><B>Delivery of Prospectuses and Related Documents</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">6.1</TD><TD STYLE="text-align: justify">Except as provided in Section&nbsp;6.1(a)&nbsp;hereof, the Company shall deliver (or cause to be delivered)
to the Underwriters&rsquo; counsel prior to or contemporaneously, as nearly as practicable, with the execution of this Agreement a copy
of the following for each of the Underwriters and Underwriters&rsquo; counsel:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">any Preliminary Prospectus, the Prospectus and each Issuer Free Writing Prospectus as filed with the SEC
(to the extent not previously delivered) to the Underwriters in New York City on the business day next succeeding the date of this Agreement
in such quantities as the Representatives may reasonably request; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">a &ldquo;comfort letter&rdquo; from Deloitte LLP, auditors for BIP, dated as of the date hereof (with
the requisite procedures to be completed by such auditors within two business days of the date hereof), addressed to the directors of
the General Partner and to the Underwriters, in form and substance acceptable to the Underwriters, acting reasonably, with respect to
the financial statements and certain financial or statistical information relating to BIP contained or incorporated by reference in the
Registration Statement, the Disclosure Package and the Prospectus.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">6.2</TD><TD STYLE="text-align: justify">The delivery by the Company to the Underwriters of the Disclosure Package and the Prospectus shall constitute
a representation and warranty to the Underwriters by the Company that the Disclosure Package or the Prospectus, as applicable, except
with respect to any Underwriting Information (as defined herein), does not contain any untrue statement of a material fact or omit to
state any material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under
which they were made, not misleading. Such delivery shall also constitute the consent of the Company and the Guarantors to the use of
the Disclosure Package and the Prospectus by the Underwriters in connection with the distribution of the Securities.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">6.3</TD><TD STYLE="text-align: justify">Before preparing, using, authorizing, approving, referring to or filing any Issuer Free Writing Prospectus,
and before filing any amendment or supplement to the Registration Statement, the Disclosure Package or the Prospectus, the Company will
furnish to the Representatives and counsel for the Underwriters a copy of the proposed Issuer Free Writing Prospectus, amendment or supplement
for review and will not prepare, use, authorize, approve, refer to or file any such Issuer Free Writing Prospectus or file any such proposed
amendment or supplement to which the Representatives reasonably object.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">6.4</TD><TD STYLE="text-align: justify">The Company will, pursuant to reasonable procedures developed in good faith, retain copies of each Issuer
Free Writing Prospectus that is not filed with the SEC in accordance with Rule&nbsp;433 under the Securities Act.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">6.5</TD><TD STYLE="text-align: justify">BIP will make generally available to its security holders as soon as reasonably practicable an earnings
statement that satisfies the provisions of Section&nbsp;11(a)&nbsp;of the Securities Act and Rule&nbsp;158 under the Securities Act.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>7</B></TD><TD><B>Commercial Copies of Prospectuses</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">7.1</TD><TD STYLE="text-align: justify">The Company shall deliver to the Underwriters, as soon as practicable and in any event within two business
days of the date of filing the Prospectus with the SEC, the number of commercial copies of the Prospectus reasonably specified by the
Underwriters in writing.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">7.2</TD><TD STYLE="text-align: justify">During the Prospectus Delivery Period, the Company shall deliver, without charge, as many copies of the
Prospectus (including all amendments and supplements thereto) and each Issuer Free Writing Prospectus as the Representatives may reasonably
request.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>8</B></TD><TD><B>Distribution of Securities</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">8.1</TD><TD STYLE="text-align: justify">The Underwriters shall offer the Securities for sale to the public directly and through banking and selling
group members only as permitted by and in compliance with Securities Laws upon the terms and conditions set forth in the Disclosure Package,
the Prospectus and in this Agreement. Without the prior consent of the Company, the Underwriters will not solicit offers to purchase or
sell the Securities so as to require registration of the Securities or filing of a prospectus, registration statement or other notice
or document with respect to the distribution of the Securities under the laws of any jurisdiction other than the United States, or which
could subject the Company or any Guarantor to reporting obligations in any such jurisdiction or result in the listing of the securities
of the Company or any Guarantor on any exchange other than an exchange where such securities are listed as of the date hereof and will
require each banking and selling group member to agree with the Underwriters not to so solicit or sell. An Underwriter will not be liable
to the Company or any Guarantor under this Section&nbsp;with respect to a default by another Underwriter or any banking and selling group
member appointed by another Underwriter under this Section.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">8.2</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The Underwriters propose to offer the Securities
initially at the price to the public listed on Schedule A hereto (the &ldquo;</FONT><B>Public Offering Price</B>&rdquo;). After a reasonable
effort has been made to sell all of the Securities at the Public Offering Price, the Underwriters may subsequently reduce and thereafter
change, from time to time, the price at which the Securities are offered; <I>provided</I> that such decrease in the Public Offering Price
will not decrease the amount of the net proceeds of the offering to the Company.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>9</B></TD><TD><B>Material Change</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">9.1</TD><TD STYLE="text-align: justify">During the Prospectus Delivery Period, the Company or a Guarantor, as applicable, shall promptly notify
the Underwriters in writing, with full particulars, of:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">any change (actual, contemplated or threatened) in the business, affairs, operations, assets, liabilities
(contingent or otherwise), capital or ownership of the Company and the Guarantors on a consolidated basis (other than a change disclosed
in the Disclosure Package or the Prospectus); or</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">any change in any matter covered by a statement contained or incorporated by reference in the Disclosure
Package, the Prospectus or any Subsequent Disclosure Document or an amendment to the Disclosure Package or the Prospectus; or</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">any material fact that arises or has been discovered that would have been required to be stated in the
Disclosure Package, the Prospectus or any Subsequent Disclosure Document or any amendment to the Disclosure Package and the Prospectus
had that fact arisen or been discovered on or prior to the date of the Prospectus or any Subsequent Disclosure Document or any amendment
to the Disclosure Package or the Prospectus, as the case may be,</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">which change or fact is, or may be,
of such a nature as to render the Disclosure Package, the Prospectus or any Subsequent Disclosure Document or any amendment to the Disclosure
Package or the Prospectus misleading or untrue in any material respect or which would result in any of such documents not complying in
any material respect with any of the Securities Laws or which would result in any of such documents containing any untrue statement of
a material fact or omitting to state any material fact required to be stated therein or necessary to make the statements therein not misleading
or which change would reasonably be expected to have a significant effect on the market price or value of the Securities. The Company
shall in good faith discuss with the Underwriters any change in circumstances (actual or proposed within the knowledge of the Company)
which is of such a nature that there is reasonable doubt whether notice need be given to the Underwriters pursuant to this Section&nbsp;and,
in any event, prior to making any filing referred to in Section&nbsp;9.4.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">9.2</TD><TD STYLE="text-align: justify">The Company will advise the Representatives promptly, and confirm such advice in writing: (i)&nbsp;when
any amendment to the Registration Statement has been filed or becomes effective; (ii)&nbsp;when any supplement to the Prospectus or any
Issuer Free Writing Prospectus or any amendment to the Prospectus has been filed; (iii)&nbsp;of any request by the SEC for any amendment
to the Registration Statement or any amendment or supplement to the Prospectus or the receipt of any comments from the SEC relating to
the Registration Statement or any other request by the SEC for any additional information; (iv)&nbsp;of the issuance by the SEC of any
order suspending the effectiveness of the Registration Statement or preventing or suspending the use of any Preliminary Prospectus, any
of the Disclosure Package or the Prospectus or the initiation or threatening of any proceeding for that purpose or pursuant to Section&nbsp;8A
of the Securities Act; (v)&nbsp;of the occurrence of any event within the Prospectus Delivery Period as a result of which the Prospectus,
the Disclosure Package or any Issuer Free Writing Prospectus as then amended or supplemented would include any untrue statement of a material
fact or omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances existing when
the Prospectus, the Disclosure Package or any such Issuer Free Writing Prospectus is delivered to a purchaser, not misleading; (vi)&nbsp;of
the receipt by the Company of any notice of objection of the SEC to the use of the Registration Statement or any post-effective amendment
thereto pursuant to Rule&nbsp;401(g)(2)&nbsp;under the Securities Act; and (vii)&nbsp;of the receipt by the Company of any notice with
respect to any suspension of the qualification of the Securities for offer and sale in any jurisdiction or the initiation or threatening
of any proceeding for such purpose; and each of the Company and the Guarantors will use its commercially reasonable efforts to prevent
the issuance of any such order suspending the effectiveness of the Registration Statement, preventing or suspending the use of any Preliminary
Prospectus, any of the Disclosure Package or the Prospectus or suspending any such qualification of the Securities and, if any such order
is issued, will obtain as soon as possible the withdrawal thereof.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">9.3</TD><TD STYLE="text-align: justify">If during the Prospectus Delivery Period (i)&nbsp;any event shall occur or condition shall exist as a
result of which the Prospectus as then amended or supplemented would include any untrue statement of a material fact or omit to state
any material fact necessary in order to make the statements therein, in the light of the circumstances existing when the Prospectus is
delivered to a purchaser, not misleading or (ii)&nbsp;it is necessary to amend or supplement the Prospectus to comply with Securities
Laws, the Company will promptly notify the Underwriters thereof and forthwith prepare and, subject to Section&nbsp;6.3, file with the
SEC and furnish to the Underwriters and to such dealers as the Representatives may designate, such amendments or supplements to the Prospectus
as may be necessary so that the statements in the Prospectus as so amended or supplemented will not, in the light of the circumstances
existing when the Prospectus is delivered to a purchaser, be misleading or so that the Prospectus will comply with law. If at any time
prior to the Closing Date and, if applicable, the Option Closing Date, (i)&nbsp;any event shall occur or condition shall exist as a result
of which the Disclosure Package as then amended or supplemented would include any untrue statement of a material fact or omit to state
any material fact necessary in order to make the statements therein, in the light of the circumstances existing when the Disclosure Package
is delivered to a purchaser, not misleading or (ii)&nbsp;it is necessary to amend or supplement the Disclosure Package to comply with
Securities Laws, the Company will promptly notify the Underwriters thereof and forthwith prepare and, subject to Section&nbsp;6.3 above,
file with the SEC (to the extent required) and furnish to the Underwriters and to such dealers as the Representatives may designate, such
amendments or supplements to the Disclosure Package as may be necessary so that the statements in the Disclosure Package as so amended
or supplemented will not, in the light of the circumstances existing when the Disclosure Package is delivered to a purchaser, be misleading
or so that the Disclosure Package will comply with Securities Laws.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">9.4</TD><TD STYLE="text-align: justify">The Company and the Guarantors shall promptly comply with all applicable filing and other requirements,
if any, under the Securities Laws arising as a result of any change referred to in Section&nbsp;9.1 and shall prepare and file under all
Securities Laws, with all possible dispatch, and in any event within any time limit prescribed under Securities Laws, any Subsequent Disclosure
Document or any amendment to the Disclosure Package or the Prospectus as may be required under Securities Laws during the Prospectus Delivery
Period. The Company shall further promptly deliver to the Underwriters a copy for each of the Underwriters and the Underwriters&rsquo;
counsel of opinions and comfort letters with respect to each such amendment to the Disclosure Package, the Prospectus and any Subsequent
Disclosure Document substantially similar to those referred to in Section&nbsp;6.1 and Section&nbsp;13.1.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">9.5</TD><TD STYLE="text-align: justify">The delivery by the Company and the Guarantors to the Underwriters of any Subsequent Disclosure Document
or any amendment to the Disclosure Package or the Prospectus shall constitute a representation and warranty to the Underwriters by the
Company, with respect to such Subsequent Disclosure Document or the Disclosure Package or the Prospectus, as so amended by such amendment,
and by each Subsequent Disclosure Document and each amendment to the Disclosure Package and the Prospectus previously delivered to the
Underwriters, to the same effect as set forth in Section&nbsp;6.2. Such delivery shall also constitute the consent of the Company to the
use of the Disclosure Package and the Prospectus, as amended or supplemented by any such document, by the Underwriters in connection with
the offer and sale of the Securities in the United States.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>10</B></TD><TD><B>Closing</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">10.1</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The Company agrees to issue and sell the Firm
Notes to the several Underwriters as provided in this Agreement, and each Underwriter, on the basis of the representations, warranties
and agreements set forth herein and subject to the conditions set forth herein, agrees, severally and not jointly, to purchase from the
Company the respective aggregate principal amount of Firm Notes set forth opposite such Underwriter&rsquo;s name in Schedule 1 hereto
at a price to the public of 100%. On the Closing Date and, if applicable, the Option Closing Date, the Company will pay to the Underwriters,
as an underwriting commission in respect of the public distribution of the Securities as set forth in this Agreement, the commission set
forth as follows (&ldquo;</FONT><B>Underwriting Commission</B>&rdquo;): $0.5000 per $25 principal amount of Notes ($370,000 in the aggregate)
(Institutional) and $0.7875 per $25 principal amount of Notes ($4,142,250 in the aggregate) (Retail). Such Underwriting Commission may
be paid by the Company to the Underwriters by setting off the Underwriting Commission payable by the Company to the Underwriters against
the amount payable by the Underwriters to the Company as the purchase price for the Securities.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">10.2</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Payment for the Notes shall be made by wire transfer
in immediately available funds to the account specified by the Company to the Representatives, in the case of the Firm Notes, at the offices
of Milbank LLP, 55 Hudson Yards, New York, NY 10001, at </FONT>10:00 A.M.&nbsp;New York City time, on May&nbsp;31, 2024, or at such other
time or place on the same or such other date, not later than the fifth business day thereafter, as the Representatives and the Company
may agree upon in writing. The time and date of such payment for the Firm Notes is referred to herein as the &ldquo;<B>Closing Time</B>&rdquo;
and &ldquo;<B>Closing Date</B>.&rdquo;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">10.3</TD><TD STYLE="text-align: justify">[Reserved]</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">10.4</TD><TD STYLE="text-align: justify">The Company understands that the Underwriters intend to make a public offering of the Securities, and
initially to offer the Securities on the terms set forth in the Disclosure Package and the Prospectus. The Company acknowledges and agrees
that the Underwriters may offer and sell Securities to or through any affiliate of an Underwriter.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">10.5</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Payment for the Securities to be purchased on
the Closing Date and, if applicable, the Option Closing Date, shall be made against delivery to the Representatives for the respective
accounts of the several Underwriters of the Securities to be purchased on such date with any transfer taxes payable in connection with
the sale of such Securities duly paid by the Company. Delivery of the Securities shall be made through the facilities of The Depository
Trust Company (&ldquo;</FONT><B>DTC</B>&rdquo;) unless the Representatives shall otherwise instruct and the Securities shall be registered
in such names and in such denominations as the Representatives shall request. Any certificates for the Securities will be made available
for inspection and packaging by the Representatives at the office of DTC or its designated custodian not later than 1:00 P.M., New York
City time, on the business day prior to the Closing Date and, if applicable, the Option Closing Date.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>11</B></TD><TD><B>Representations, Warranties and Covenants of the Company and the Guarantors</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">11.1</TD><TD STYLE="text-align: justify">The Company and the Guarantors jointly and severally represent, warrant and covenant to the Underwriters
that:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify"><U>Compliance with Canadian Securities Laws</U>. Each of the Company and BIP is a reporting issuer in
each of the Qualifying Jurisdictions, is not in default under the Canadian Securities Laws, and is in compliance in all material respects
with its timely disclosure obligations under Canadian Securities Laws and the requirements of the TSX. No order, ruling or determination
having the effect of suspending the sale or ceasing the trading of any securities of the Company or BIP has been issued or made by any
Securities Commission and no proceedings for that purpose have been instituted or are pending or, to each of the Company&rsquo;s and BIP&rsquo;s
knowledge, are contemplated by any such authority. Any request on the part of the Securities Commissions for additional information in
connection with the offering has been complied with in all material respects.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify"><U>Independent Accountants</U>. Deloitte LLP, who has audited the annual financial statements of BIP included
and incorporated by reference in the Registration Statement, the Disclosure Package and the Prospectus, and KPMG LLP, who has audited
the annual financial statements of Triton included and incorporated by reference in the Registration Statement, the Disclosure Package
and the Prospectus, are independent registered chartered professional accountants, as required by the Securities Act and the Rules&nbsp;and
Regulations.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify"><U>Financial Statements</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12%"></TD><TD STYLE="width: 5%">(i)</TD><TD STYLE="text-align: justify; width: 83%">The financial statements of BIP included or incorporated by reference in the Disclosure Package and the
Prospectus, together with the related schedules, if any, and notes, present fairly, in all material respects, the assets and liabilities,
financial position, results of operations and cash flows at the dates and for the periods indicated and the related statements of operations,
other comprehensive income, accumulated other comprehensive income, partnership capital and cash flows for the periods specified. The
financial statements of BIP have been prepared in conformity with International Financial Reporting Standards (&ldquo;<B>IFRS</B>&rdquo;)
as issued by the International Accounting Standards Board applied on a consistent basis throughout the periods involved. The supporting
schedules, if any, of BIP, present fairly, in all material respects and in accordance with IFRS, the information required to be stated
therein. The selected consolidated financial data, the summary consolidated financial data and all operating data of BIP included or incorporated
by reference in the Disclosure Package and the Prospectus, or otherwise deemed to be a part thereof or included therein, present fairly,
in all material respects, the information shown therein and the selected consolidated financial data and the summary consolidated financial
data of BIP have been compiled on a basis consistent with that of the audited consolidated financial statements included or incorporated
by reference in the Disclosure Package and the Prospectus. There have been no changes in the assets or liabilities of BIP from the position
thereof as set forth in the consolidated financial statements included or incorporated by reference in the Disclosure Package and the
Prospectus, or otherwise deemed to be a part thereof or included therein, except changes arising from transactions in the ordinary course
of business which, in the aggregate, have not been material to BIP and except for changes that are disclosed in the Disclosure Package
and the Prospectus; and</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12%"></TD><TD STYLE="width: 5%">(ii)</TD><TD STYLE="text-align: justify; width: 83%">The pro forma financial statements included in the Disclosure Package and the Prospectus include assumptions
that provide a reasonable basis for presenting the significant effects directly attributable to the transaction and events described therein,
the related pro forma adjustments give appropriate effect to those assumptions, and the pro forma adjustments reflect the proper application
of those adjustments to the historical financial statement amounts in the pro forma financial statements included in the Disclosure Package
and the Prospectus. The pro forma financial statements included in the Disclosure Package and Prospectus comply as to form in all material
respects with the applicable requirements of the Securities Act.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify"><U>No Material Adverse Change in Business</U>. Except as disclosed in the Disclosure Package and the Prospectus,
since the date of the most recent audited financial statements of BIP incorporated by reference in the Registration Statement, the Disclosure
Package and the Prospectus or any Subsequent Disclosure Documents, (A)&nbsp;there has been no change and there is no prospective change
that would have a material adverse effect on the condition (financial or otherwise), results of operations or business of the BIP Entities,
taken together as a single enterprise, whether or not arising in the ordinary course of business (a &ldquo;<B>Material Adverse Effect</B>&rdquo;),
(B)&nbsp;there have been no transactions entered into by the BIP Entities, other than those in the ordinary course of business, which
are material with respect to the BIP Entities, taken together, as a single enterprise, and (C)&nbsp; there has been no dividend or distribution
of any kind declared (other than as publicly disclosed), paid or made by BIP on any class or series of its securities.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify"><U>Good Standing</U>. Each of the Company and the Guarantors is an entity validly existing as an entity
in good standing under the laws of the jurisdiction of its creation, has the power and authority to own, lease and operate its properties
and to conduct its business as described in the Disclosure Package and the Prospectus, and is duly qualified and is in good standing (or
the equivalent, if any, in the applicable jurisdiction) in each jurisdiction in which such qualification is required, except where the
failure to so qualify or register would not result in a Material Adverse Effect. All of the issued and outstanding units in the capital
of or other equity interests in each of the Company and the Guarantors have been duly authorized and validly issued and are fully paid
and non-assessable, and all of the issued and outstanding units in the capital of or other equity interests in each subsidiary that is
wholly-owned by a Guarantor is owned by such Guarantor, in each case directly or through subsidiaries, free and clear of any security
interest, mortgage, pledge, lien, encumbrance, claim or equity, except as disclosed in the Disclosure Package and the Prospectus. Each
Guarantor owns that percentage of the outstanding units in the capital of or other equity interests in each subsidiary that is not wholly-owned
as is set forth in the Disclosure Package and the Prospectus, and all such units or other equity interests owned by each such Guarantor
are owned directly or through subsidiaries, free and clear of any security interest, mortgage, pledge, lien, encumbrance, claim or equity,
except as disclosed therein; none of the outstanding units in the capital of or other equity interests in each of the subsidiaries was
issued in violation of pre-emptive or other similar rights of any securityholder thereof.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(f)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Capitalization; Distributions</U>. The authorized
capital of BIP consists of an unlimited number of limited partnership units, an unlimited number of Class&nbsp;A preferred limited partnership
units (the &ldquo;</FONT><B>Class&nbsp;A Preferred Units</B>&rdquo;) and an unlimited number of general partner units. As of the date
of this Agreement, approximately 461,511,981 limited partnership units; 4,989,265 Class&nbsp;A preferred limited partnership units, Series&nbsp;1
(the &ldquo;<B>Series&nbsp;1 Preferred Units</B>&rdquo;); 4,989,262 Class&nbsp;A preferred limited partnership units, Series&nbsp;3 (the
 &ldquo;<B>Series&nbsp;3 Preferred Units</B>&rdquo;); 7,986,595 Class&nbsp;A Preferred Units, Series&nbsp;9 (the &ldquo;<B>Series&nbsp;9
Preferred Units</B>&rdquo;); 9,936,190 Class&nbsp;A preferred limited partnership units, Series&nbsp;11 (the &ldquo;<B>Series&nbsp;11
Preferred Units</B>&rdquo;, and collectively with the Series&nbsp;1 Preferred Units, the Series&nbsp;3 Preferred Units and the Series&nbsp;9
Preferred Units, the &ldquo;<B>Existing Canadian Preferred Units</B>&rdquo;); 8,000,000 Class&nbsp;A preferred limited partnership units,
Series&nbsp;13; 8,000,000 Class&nbsp;A preferred limited partnership units, Series&nbsp;14; and one general partner unit were issued and
outstanding as fully-paid and non-assessable units of BIP. As of the date hereof, there are no issued or outstanding Class&nbsp;A preferred
limited partnership units, Series&nbsp;2, Class&nbsp;A preferred limited partnership units, Series&nbsp;4, Class&nbsp;A preferred limited
partnership units, Series&nbsp;5, Class&nbsp;A preferred limited partnership units, Series&nbsp;6, Class&nbsp;A preferred limited partnership
units, Series&nbsp;7, Class&nbsp;A preferred limited partnership units, Series&nbsp;8, Class&nbsp;A preferred limited partnership units,
Series&nbsp;10, Class&nbsp;A preferred limited partnership units, Series&nbsp;12 or Class&nbsp;A preferred limited partnership units,
Series&nbsp;15 (the &ldquo;<B>Series&nbsp;15 Preferred Units</B>&rdquo;). All of the issued and outstanding limited partnership units,
Class&nbsp;A preferred limited partnership units and general partner units in the capital of BIP have been duly authorized and validly
issued and are fully-paid and non-assessable and have been issued in compliance with all applicable U.S. and Canadian laws (except where
the failure to do so would not have a Material Adverse Effect), and none of the outstanding limited partnership units, Class&nbsp;A preferred
limited partnership units or general partner units in the capital of BIP were issued in violation of the pre-emptive or other similar
rights of any securityholder of BIP. All distributions, including the distributions on all other securities of BIP ranking prior to or
on a parity with the Securities with respect to the payment of distributions in respect of periods ending on or prior to the date hereof
have been declared and paid or set apart for payment.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(g)</TD><TD STYLE="text-align: justify"><U>Authorization of Agreement</U>. Each of the Company and the Guarantors has the power and authority
to execute, deliver and perform its obligations under this Agreement, the Securities and the Indenture and this Agreement, the Indenture
and the Securities have been duly authorized, executed and delivered by each of the Company and the Guarantors.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(h)</TD><TD STYLE="text-align: justify"><U>Authorization and Description of Notes</U>. The Notes have been duly authorized by the Company for
issuance and sale to the Underwriters pursuant to this Agreement and the Indenture, and when executed and delivered by the Company and
authenticated by the Trustee in accordance with the terms of the Indenture and delivered against payment of the purchase price therefor,
will conform to all statements relating thereto contained in the Disclosure Package and the Prospectus, such descriptions conforming to
the rights set forth in the instruments defining the same, and will constitute valid and legally binding obligations of the Company, enforceable
against the Company in accordance with their terms, subject, as to enforcement, to bankruptcy, insolvency, reorganization and other laws
of general applicability relating to or affecting creditors&rsquo; rights and to general equity principles and will be entitled to the
benefits of the Indenture.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify"><U>Authorization and Description of Guarantees</U>. The Guarantees have been duly authorized by each of
the Guarantors, and when the Notes have been executed and delivered by the Company and authenticated by the Trustee in the manner provided
for in accordance with the provisions of the Indenture and issued and delivered against payment of the purchase price therefor, will conform
to all statements relating thereto contained in the Disclosure Package and the Prospectus, such descriptions conforming to the rights
set forth in the instruments defining the same, and will constitute valid and legally binding agreements of each of the Guarantors, enforceable
against each of the Guarantors in accordance with its terms, subject, as to enforcement, to bankruptcy, insolvency, reorganization and
other laws of general applicability relating to or affecting creditors&rsquo; rights and to general equity principles and will be entitled
to the benefits of the Indenture.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(j)</TD><TD STYLE="text-align: justify"><U>Authorization and Description of Indenture</U>. The Indenture has been duly authorized by each of the
Company and the Guarantors, and when executed and delivered by the Company, the Guarantors and the Trustee, the Indenture will constitute
a valid and legally binding instrument, enforceable against each of the Company and the Guarantors in accordance with its terms, subject,
as to enforcement, to bankruptcy, insolvency, reorganization and other laws of general applicability relating to or affecting creditors&rsquo;
rights and to general equity principles; the Indenture has been duly qualified under the Trust Indenture Act and is substantially in the
form, save for any indenture supplements relating to a particular issuance of debt securities, filed as an exhibit to the Registration
Statement; and the Indenture conforms, and the Securities will conform, to the descriptions thereof contained in each of the Disclosure
Package and the Prospectus.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(k)</TD><TD STYLE="text-align: justify"><U>Absence of Defaults and Conflicts</U>. None of the Company nor any of the Guarantors is in violation
of its limited partnership agreement, articles, charter or by laws or in default in the performance or observance of any obligation, agreement,
covenant or condition contained in any contract, indenture, mortgage, deed of trust, loan or credit agreement, note, lease, license or
other agreement or instrument to which any of the Company or the Guarantors is a party or by which it or any of them may be bound, or
to which any of the Company or the Guarantors or the property or assets of any of the Company or the Guarantors is subject (collectively,
 &ldquo;<B>Agreements and Instruments</B>&rdquo;), except for such defaults that would not result in a Material Adverse Effect. The execution,
delivery and performance of this Agreement, the Securities, the Indenture and the consummation of the transactions contemplated therein
and in the Disclosure Package and the Prospectus (including the authorization, issuance, sale and delivery of the Securities and the use
of the proceeds from the sale of the Securities as described in the Disclosure Package and the Prospectus under the caption &ldquo;Use
of Proceeds&rdquo;) and compliance by each of the Company and the Guarantors with its obligations hereunder has been duly authorized by
all necessary action and do not and will not, whether with or without the giving of notice or passage of time or both, conflict with or
constitute a breach of, or default or Repayment Event under, or result in the creation or imposition of any lien, charge or encumbrance
upon any property or assets of any of the Company or the Guarantors pursuant to, the Agreements and Instruments (except for such conflicts,
breaches, defaults or Repayment Events or liens, charges or encumbrances that would not result in a Material Adverse Effect), nor will
such action result in any violation of or conflict with the provisions of the limited partnership agreement, charter or by laws of any
of the Company or the Guarantors, the resolutions of the general partner, unitholders, shareholders, directors or any committee of directors
of any of the Company or the Guarantors or any applicable law, statute, rule, regulation, judgment, order, writ or decree of any government,
government instrumentality, court, domestic or foreign, or stock exchange having jurisdiction over any of the Company or the Guarantors
or any of their assets, properties or operations (except for such violations or conflicts that would not result in a Material Adverse
Effect). As used herein, a &ldquo;<B>Repayment Event</B>&rdquo; means any event or condition which gives the holder of any note, debenture
or other evidence of indebtedness (or any person acting on such holder&rsquo;s behalf) the right to require the repurchase, redemption
or repayment of all or a portion of such indebtedness by any of the Company or the Guarantors.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(l)</TD><TD STYLE="text-align: justify"><U>Absence of Labor Dispute</U>. No labor dispute with the employees of any of the BIP Entities or the
Guarantors exists or, to the knowledge of BIP or the Guarantors is imminent, and neither BIP nor the Guarantors is aware of any existing
or imminent labor disturbance by the employees of any of the BIP Entities&rsquo; or the Guarantors&rsquo; principal suppliers, manufacturers,
customers or contractors, which, in either case, would result in a Material Adverse Effect.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(m)</TD><TD STYLE="text-align: justify"><U>Absence of Proceedings</U>. There is no action, suit, proceeding, inquiry or investigation before or
brought by any court or governmental agency, governmental instrumentality or body, domestic or foreign, now pending, or, to the knowledge
of the Company or the Guarantors, threatened, against or affecting any of the BIP Entities or the Guarantors, which is required to be
disclosed in the Disclosure Package and the Prospectus or the Subsequent Disclosure Documents, or which is reasonably likely to result
in a Material Adverse Effect, or which is reasonably likely to materially and adversely affect the properties or assets of the BIP Entities
or the Guarantors or the consummation of the transactions contemplated by this Agreement or the performance by the Company or the Guarantors
of their obligations hereunder; the aggregate of all pending legal or governmental proceedings to which any of the BIP Entities or the
Guarantors is a party or of which any of their respective property or assets is the subject which are not described in the Disclosure
Package and the Prospectus or the Subsequent Disclosure Documents, including ordinary routine litigation incidental to the business of
any of the BIP Entities or the Guarantors, are not reasonably likely to result in a Material Adverse Effect.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(n)</TD><TD STYLE="text-align: justify"><U>Absence of Contracts,&nbsp;etc</U>. There are no contracts or documents which are required to be described
in the Disclosure Package and the Prospectus which have not been so described.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(o)</TD><TD STYLE="text-align: justify"><U>Absence of Further Requirements</U>. No filing with, or authorization, approval, consent, license,
order, registration, qualification or decree of, any court or governmental authority or agency is necessary or required for the performance
by the Company or any of the Guarantors of their obligations hereunder, in connection with the offer, issuance or sale of the Securities
hereunder or the consummation of the transactions contemplated by this Agreement or the Indenture, except such as have been or, prior
to the Closing Date, and, if applicable, the Option Closing Date, will be, obtained, or as may be required, under Applicable Securities
Laws or Exchange regulations (including, in the case of the listing application to the NYSE in respect of the Notes, extraterritorial
registrations (except where the failure to do so would not have a Material Adverse Effect), the Trust Indenture Act and the Company fulfilling
the requirements of the NYSE in connection therewith).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(p)</TD><TD STYLE="text-align: justify"><U>Possession of Licenses and Permits</U>. Each of the BIP Entities and the Guarantors possesses such
permits, licenses, approvals, consents and other authorizations (collectively, &ldquo;<B>Governmental Licenses</B>&rdquo;) issued by the
appropriate federal, state, local or foreign regulatory agencies or bodies necessary to conduct the business now operated by them, except
where the failure to so possess would not, singly or in the aggregate, result in a Material Adverse Effect; each of the BIP Entities and
the Guarantors is in compliance with the terms and conditions of all such Governmental Licenses, except where the failure to so comply
would not, singly or in the aggregate, result in a Material Adverse Effect; all of the Governmental Licenses are valid and in full force
and effect, except when the invalidity of such Governmental Licenses or the failure of such Governmental Licenses to be in full force
and effect would not, singly or in the aggregate, result in a Material Adverse Effect, and, except as described in each of the Registration
Statement, the Disclosure Package and the Prospectus, none of the BIP Entities or the Guarantors has received any notice of proceedings
relating to the revocation or modification of any such Governmental Licenses which, singly or in the aggregate, if the subject of an unfavorable
decision, ruling or finding, would result in a Material Adverse Effect, and there are no facts or circumstances, including without limitation
facts or circumstances relating to the revocation, suspension, modification, withdrawal or termination of any Governmental Licenses held
by others, known to BIP or the Guarantors, that could lead to the revocation, suspension, modification, withdrawal or termination of any
such Governmental Licenses, which, singly or in the aggregate, if the subject of an unfavorable decision, ruling or finding, would result
in a Material Adverse Effect. To the knowledge of BIP and the Guarantors and except as described in the Disclosure Package and the Prospectus,
no party granting any such Governmental Licenses is considering limiting, suspending, modifying, withdrawing, or revoking the same in
any material respect.</TD></TR></TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(q)</TD><TD STYLE="text-align: justify"><U>Title to Property</U>. Except as described in the Disclosure Package and the Prospectus, each of the
BIP Entities and the Guarantors has good and marketable title to all of its material assets including all material licenses, free and
clear of all mortgages, hypothecs, liens, charges, pledges, security interests, encumbrances, claims or demands whatsoever (other than
mortgages, liens, charges, pledges, security interests and/or other encumbrances granted to its or its subsidiaries&rsquo; lenders or
that have been provided in the ordinary course of business or that are customary given the nature of the assets and the business of each
of the BIP Entities and the Guarantors) which are material to each of the BIP Entities and the Guarantors.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(r)</TD><TD STYLE="text-align: justify"><U>Environmental Laws</U>. Except as described in the Disclosure Package and the Prospectus and except
as would not, singly or in the aggregate, result in a Material Adverse Effect, (A)&nbsp;none of the BIP Entities or the Guarantors is
in violation of any federal, provincial, state, local, municipal or foreign statute, law, rule, regulation, ordinance, code, policy or
rule&nbsp;of common law or civil law or any judicial or administrative interpretation thereof, including any judicial or administrative
order, consent, decree or judgment, relating to pollution or protection of human health, the environment (including, without limitation,
ambient air, surface water, groundwater, land surface or subsurface strata) or wildlife, including, without limitation, laws and regulations
relating to the release or threatened release of chemicals, pollutants, contaminants, wastes, toxic substances, hazardous substances,
petroleum or petroleum products, asbestos-containing materials or mold (collectively, &ldquo;<B>Hazardous Materials</B>&rdquo;) or to
the manufacture, processing, distribution, use, treatment, storage, disposal, transport or handling of Hazardous Materials (collectively,
 &ldquo;<B>Environmental Laws</B>&rdquo;), (B)&nbsp;each of the BIP Entities and the Guarantors has all permits, authorizations and approvals
required under any applicable Environmental Laws and is in compliance with its requirements, (C)&nbsp;there are no pending or, to the
knowledge of the Company or the Guarantors, threatened administrative, regulatory or judicial actions, suits, demands, demand letters,
claims, liens, notices of noncompliance or violation, investigation or proceedings relating to any Environmental Law against any of the
BIP Entities or the Guarantors and (D)&nbsp;there are no events or circumstances that might reasonably be expected to form the basis of
an order for clean up or remediation, or an action, suit or proceeding by any private party or governmental body or agency, against or
affecting any of the BIP Entities or the Guarantors relating to Hazardous Materials or any Environmental Laws.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(s)</TD><TD STYLE="text-align: justify"><U>No Stabilization or Manipulation</U>. None of the Company, the Guarantors, nor, to their knowledge,
any of their respective officers, directors or controlled affiliates has taken or will take, directly or indirectly, any action designed
to, or that might be reasonably expected to, cause or result in stabilization or manipulation of the price of the Securities.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(t)</TD><TD STYLE="text-align: justify"><U>Other Information</U>. There are no contracts, documents or other materials required to be described
or referred to in the Disclosure Package and the Prospectus that are not described, referred to or filed as required.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(u)</TD><TD STYLE="text-align: justify"><U>Insurance</U>. Each of the BIP Entities and the Guarantors carries or is entitled to the benefits of
insurance, with financially sound and reputable insurers, in such amounts and covering such risks as management believes is appropriate
for an entity engaged in the business of the BIP Entities and the Guarantors, and all such insurance is in full force and effect, except,
in each case, where the failure to possess would not, singly or in the aggregate, result in a Material Adverse Effect. Each of the BIP
Entities and the Guarantors has no reason to believe that they will not be able to (A)&nbsp;renew existing insurance coverage as and when
such policies expire; or (B)&nbsp;obtain comparable coverage from similar institutions as may be necessary or appropriate to conduct its
business as now conducted and at a cost that would not have a Material Adverse Effect. None of the BIP Entities or the Guarantors has
been denied any insurance coverage, which it has sought or for which it has applied.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(v)</TD><TD STYLE="text-align: justify"><U>Accounting Control</U>. Except as described in the Registration Statement, the Disclosure Package and
the Prospectus, each of the BIP Entities maintains a system of internal control over financial reporting (as such term is defined in Rule&nbsp;13a-15(f)&nbsp;of
the Exchange Act) that complies with the applicable requirements of the Exchange Act (including, where applicable, by exemptive relief)
and that has been designed by, or under the supervision of, BIP&rsquo;s principal executive and principal financial officers, which, on
a consolidated basis, is sufficient to provide reasonable assurances that: (A)&nbsp;transactions are executed in accordance with management&rsquo;s
general or specific authorization; (B)&nbsp;transactions are recorded as necessary to permit preparation of financial statements in conformity
with IFRS and to maintain accountability for assets; (C)&nbsp;access to assets is permitted only in accordance with management&rsquo;s
general or specific authorization; and (D)&nbsp;the recorded accountability for assets is compared with the existing assets at reasonable
intervals and appropriate action is taken with respect to any differences. The internal controls are, and upon consummation of the offering
will be, overseen by the Audit Committee (the &ldquo;<B>Audit Committee</B>&rdquo;) of the General Partner in accordance with the NYSE
Rules. As of the date of the most recent balance sheet of BIP and its consolidated subsidiaries included in the Registration Statement,
the Disclosure Package and the Prospectus, there were no material weaknesses in BIP&rsquo;s internal controls. BIP has not publicly disclosed
or reported to the Audit Committee or the General Partner, and, within the next 135 days, BIP does not reasonably expect to publicly disclose
or report to the Audit Committee or the General Partner a significant deficiency, material weakness, change in internal controls or fraud
involving management or other employees who have a significant role in internal controls, any violation of, or failure to comply with,
Applicable Securities laws, or any other similar matter which, in each case, would have a Material Adverse Effect.</TD></TR></TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(w)</TD><TD STYLE="text-align: justify"><U>Compliance with the Sarbanes-Oxley Act</U>. There is and has been no failure on the part of BIP or,
to the knowledge of BIP, any of BIP&rsquo;s directors or officers, in their capacities as such, to comply in all material respects with
any provision of Sarbanes-Oxley, including Section&nbsp;402 related to loans and Sections 302 and 906 related to certifications, insofar
as BIP is required to comply with the aforementioned act, rules&nbsp;and regulations.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(x)</TD><TD STYLE="text-align: justify"><U>Payment of Taxes</U>. All United States federal and Canadian federal income tax returns and tax returns
of foreign jurisdictions of the BIP Entities and the Guarantors required by law to be filed have been filed and all taxes shown by such
returns or otherwise assessed, which are due and payable, have been paid, except assessments against which appeals have been or will be
promptly taken and as to which adequate reserves have been provided, except where the failure to pay would not reasonably be expected
to result in a Material Adverse Effect. Each of the BIP Entities and the Guarantors has filed all other tax returns that are required
to have been filed by it pursuant to applicable foreign, provincial, state, local or other law except insofar as the failure to file such
returns would not result in a Material Adverse Effect, and has paid all taxes due pursuant to such returns or pursuant to any assessment
received by any of the BIP Entities and the Guarantors, except where the failure to pay would not reasonably be expected to result in
a Material Adverse Effect, and except for such taxes, if any, as are being contested in good faith and as to which adequate reserves have
been provided. The charges, accruals and reserves on the books of each of the BIP Entities and the Guarantors in respect of any income
and corporation tax liability for any years not finally determined are adequate to meet any assessments or re-assessments for additional
income tax for any years not finally determined, except to the extent of any inadequacy that would not result in a Material Adverse Effect.
Subject to the assumptions, qualifications, and limitations referred to therein, the statements set forth in the Disclosure Package and
the Prospectus under the caption &ldquo;Certain United States Federal Income Tax Considerations,&rdquo; insofar as they purport to constitute
summaries of matters of United States federal income tax law or legal conclusions with respect thereto, fairly and accurately summarize
the matters described therein in all material respects.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(y)</TD><TD STYLE="text-align: justify"><U>Sanctions</U>. None of the BIP Entities or their subsidiaries, their respective directors or officers
nor, to the knowledge of BIP, any agent, employee, affiliate or person acting on behalf of a BIP Entity or any subsidiaries of a BIP Entity,
is (i)&nbsp;currently the subject or target of economic or financial sanctions administered by the Office of Foreign Assets Control of
the U.S. Treasury Department (&ldquo;<B>OFAC</B>&rdquo;), the U.S. Department of State (including, without limitation, through designation
on OFAC&rsquo;s Specially Designated Nationals and Blocked Persons list), or any sanctions administered by Global Affairs Canada, the
United Nations Security Council or the European Union, His Majesty&rsquo;s Treasury or other applicable sanctions authority (collectively,
 &ldquo;<B>Sanctions</B>&rdquo;), or (ii)&nbsp;domiciled, organized or resident in (A)&nbsp;a country or region that is, or whose government
is, the subject of comprehensive Sanctions, including, as of the date hereof, Cuba,&nbsp;Iran, North Korea, Syria, the so-called Donetsk
People&rsquo;s Republic, the so-called Luhansk People&rsquo;s Republic and the Crimea region of Ukraine and (B)&nbsp;the Kherson and Zaporizhzhia
regions of Ukraine (such countries, &ldquo;<B>Sanctioned Countries</B>&rdquo;), and none of the BIP Entities will directly or indirectly
use the proceeds of the offering, or lend, contribute or otherwise make available such proceeds to any subsidiary, joint venture partner
or other person or entity, for the purpose of (x)&nbsp;funding or facilitating any activities or business of or with any person, or in
any country or territory, that, at the time of such funding or facilitation, is the subject or target of Sanctions, (y)&nbsp;funding or
facilitating any activities of or business in any Sanctioned Country or (z)&nbsp;engaging in any other activity that will result in a
violation of Sanctions by any person (including any person participating in the offering, whether as underwriter, advisor, investor or
otherwise). Since April&nbsp;24, 2019, the BIP Entities and their subsidiaries have not knowingly engaged in and are not now knowingly
engaged in any dealings or transactions with any person that at the time of the dealing or transaction is or was the subject or the target
of Sanctions or with any Sanctioned Country, in each case, in violation of applicable Sanctions. The representations and warranties given
under the foregoing two sentences of this section shall not apply to any party in so far as such representation or warranty would result
in a violation or conflict with the Foreign Extraterritorial Measures (United States) Order, 1992.</TD></TR></TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(z)</TD><TD STYLE="text-align: justify"><U>Investment Company Act</U>. Each of the Company and the Guarantors is not and, after giving effect
to the offer and sale of the Securities and the application of the proceeds thereof as described in the Disclosure Package and the Prospectus,
will not be required to register as an &ldquo;investment company&rdquo; as defined in the Investment Company Act.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(aa)</TD><TD STYLE="text-align: justify"><U>Foreign Private Issuer and SEC Foreign Issuer</U>. BIP is a &ldquo;foreign private issuer&rdquo; within
the meaning of Rule&nbsp;405 under the Securities Act.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(bb)</TD><TD STYLE="text-align: justify"><U>Compliance with Laws</U>. Each of the BIP Entities and the Guarantors and, to the knowledge of BIP
and the Guarantors, others who perform services on behalf of the BIP Entities or the Guarantors in the performance of such services on
behalf of the BIP Entities or the Guarantors, have been and are in compliance with, and conduct their businesses in conformity with, all
applicable U.S., Canadian and foreign federal, provincial, state and local laws, rules&nbsp;and regulations, standards, and all applicable
rules, policies, ordinances, judgments, decrees, orders and injunctions of any court or governmental agency or body or the Exchanges,
except where the failure to be in compliance or conformity would not, singly or in the aggregate, result in a Material Adverse Effect;
and none of the BIP Entities nor the Guarantors has received any notice citing action or inaction by any of the BIP Entities or the Guarantors,
or others who perform services on behalf of the BIP Entities or the Guarantors, that would constitute non-compliance with any applicable
U.S., Canadian or foreign federal, provincial, state or local laws, rules, regulations policies or standards to the extent such non-compliance
reasonably could be expected to have a Material Adverse Effect; and, to the knowledge of BIP and the Guarantors, other than as set forth
in the Disclosure Package and the Prospectus, no prospective change in any applicable U.S., Canadian and foreign federal, provincial,
state, or local laws, rules, regulations or standards has been adopted which, when made effective, would have a Material Adverse Effect.</TD></TR></TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(cc)</TD><TD STYLE="text-align: justify"><U>[Reserved.]</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(dd)</TD><TD STYLE="text-align: justify"><U>Director or Officer Loans</U>. Except as disclosed in documents incorporated by reference into the
Disclosure Package and the Prospectus, there are no outstanding loans, advances (except normal advances for business expense in the ordinary
course of business) or guarantees or indebtedness by any of the BIP Entities or the Guarantors, to or for the benefit of any of the officers
or directors of any of the BIP Entities or the Guarantors or any of their respective family members.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(ee)</TD><TD STYLE="text-align: justify"><U>Off-Balance Sheet Arrangements</U>. There are no transactions, arrangements or other relationships
between and/or among the BIP Entities and the Guarantors, any of their controlled affiliates and any unconsolidated entity, including,
but not limited to, any structured finance, special purpose or limited purpose entity that could materially affect the Company&rsquo;s
or the Guarantor&rsquo;s liquidity or the availability of, or requirements for, its capital resources required to be described in the
Disclosure Package and the Prospectus which have not been described as required.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(ff)</TD><TD STYLE="text-align: justify"><U>Exchange Listing</U>. BIP is in compliance with all applicable corporate governance requirements set
forth in the NYSE Listed Company Manual and all applicable corporate governance and other requirements contained in the listing agreement
to which BIP and the NYSE are parties, except where the failure to be in compliance would not reasonably be expected to result in delisting
or any suspension of trading or other privileges.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(gg)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Filing and Effectiveness of Registration Statement;
Certain Defined Terms</U>. The Company and the Guarantors have filed with the SEC an &ldquo;automatic shelf registration statement&rdquo;
as defined under Rule&nbsp;405 under the Securities Act on Form&nbsp;F-3 (File Nos. 333-278529, 333-278529-01, 333-278529-02, 333-278529-03,
333-278529-04, 333-278529-05 and 333-278529-06), including any post-effective amendment thereto and a related prospectus or prospectuses,
and have caused the Trustee to file a Form&nbsp;T-1 under the Trust Indenture Act of 1939, as amended (the &ldquo;</FONT><B>Trust Indenture
Act</B>&rdquo;) covering the registration of the Securities under the Securities Act not earlier than three years prior to the date hereof,
such registration statement, and any post-effective amendment thereto, became effective on filing, and no stop order suspending the effectiveness
of such registration statement or any part thereof has been issued and no proceeding for that purpose has been initiated or threatened
by the SEC, and no notice of objection of the SEC to the use of such registration statement or any post-effective amendment thereto pursuant
to Rule&nbsp;401(g)(2)&nbsp;under the Securities Act has been received by any of the Company or the Guarantors (the base prospectus filed
as part of such registration statement, in the form in which it has most recently been filed with the SEC on or prior to the date of this
Agreement, is hereinafter called the &ldquo;<B>Base Prospectus</B>&rdquo;; any preliminary prospectus (including any preliminary prospectus
supplement and any amendment thereto) relating to the Securities filed with the SEC pursuant to Rule&nbsp;424(b)&nbsp;under the Securities
Act is hereinafter called a &ldquo;<B>Preliminary Prospectus</B>&rdquo;; the various parts of such registration statement, including all
exhibits thereto and including any prospectus or information supplement relating to the Securities that is filed with the SEC and deemed
by virtue of Rule&nbsp;430B or 430C under the Securities Act to be part of such registration statement, each as amended at the time such
part of the registration statement became effective, are hereinafter collectively called the &ldquo;<B>Registration Statement</B>&rdquo;;
the final prospectus supplement relating to the Securities to be filed with the SEC pursuant to Rule&nbsp;424(b)&nbsp;under the Securities
Act, including the Base Prospectus, is hereinafter called the &ldquo;<B>Prospectus</B>&rdquo;; any reference herein to the Base Prospectus,
the Disclosure Package, any Preliminary Prospectus or the Prospectus shall be deemed to refer to and include the documents incorporated
by reference therein, as of the date of such prospectus; any reference to any amendment or supplement to the Base Prospectus, any Preliminary
Prospectus or the Prospectus shall be deemed to refer to and include any post-effective amendment to the Registration Statement, any prospectus
supplement relating to the Securities filed with the SEC pursuant to Rule&nbsp;424(b)&nbsp;under the Securities Act and any documents
filed under the Exchange Act, and incorporated therein, in each case after the date of the Base Prospectus, any Preliminary Prospectus,
or the Prospectus, as the case may be; and any reference to any amendment to the Registration Statement shall be deemed to refer to and
include any annual report of BIP filed pursuant to Section&nbsp;13(a)&nbsp;or 15(d)&nbsp;of the Exchange Act after the effective date
of the Registration Statement that is incorporated by reference in the Registration Statement).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(hh)</TD><TD STYLE="text-align: justify"><U>Compliance with Securities Act Requirements</U>. At the time the Registration Statement initially became
effective, at the time of each amendment thereto for the purposes of complying with Section&nbsp;10(a)(3)&nbsp;of the Securities Act (whether
by post-effective amendment, incorporated report or form of prospectus), at the Applicable Time and on the Closing Date and, if applicable,
the Option Closing Date, the Registration Statement conformed and will conform in all material respects to the requirements of the Securities
Act and the Rules&nbsp;and Regulations and did not and will not include any untrue statement of a material fact or omit to state any material
fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were
made, not misleading. On its date, at the time of filing the Prospectus pursuant to Rule&nbsp;424(b)&nbsp;under the Securities Act and
on the Closing Date and, if applicable, the Option Closing Date, the Prospectus will conform in all material respects to the requirements
of the Securities Act and the Rules&nbsp;and Regulations, and will not include any untrue statement of a material fact or omit to state
any material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which
they were made, not misleading. The preceding sentences do not apply to statements in or omissions from any such document made in reliance
upon and in conformity with written information furnished to the Company or any Guarantor by any Underwriter through the Representatives
expressly for use therein, it being understood and agreed that the only such information is that described as &ldquo;Underwriting Information&rdquo;
in Section&nbsp;17.3 hereof.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(ii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Preliminary Prospectus</U></FONT>. No order
preventing or suspending the use of any Preliminary Prospectus or any Issuer Free Writing Prospectus has been issued by the SEC, and each
Preliminary Prospectus, at the time of filing thereof, conformed in all material respects to the requirements of the Securities Act and
the Rules&nbsp;and Regulations, and did not contain an untrue statement of a material fact or omit to state a material fact required to
be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading;
<I>provided</I>, <I>however</I>, that this representation and warranty shall not apply to statements in or omissions from any Preliminary
Prospectus made in reliance upon and in conformity with written information furnished to the Company or any Guarantor by any Underwriter
through the Representatives expressly for use therein, it being understood and agreed that the only such information is that described
as &ldquo;Underwriting Information&rdquo; in Section&nbsp;17.3 hereof.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(jj)</TD><TD STYLE="text-align: justify"><U>Disclosure Package; Issuer Free Writing Prospectuses</U>. The Disclosure Package, as of the Applicable
Time, did not, and as of the Closing Date and, if applicable, the Option Closing Date, will not, include any untrue statement of a material
fact or omit to state any material fact necessary in order to make the statements therein, in the light of the circumstances under which
they were made, not misleading; and each Issuer Free Writing Prospectus listed on Schedule A hereto does not conflict with the information
contained in the Registration Statement, the Disclosure Package or the Prospectus and each such Issuer Free Writing Prospectus, as supplemented
by and taken together with the Disclosure Package as of the Applicable Time, did not include any untrue statement of a material fact or
omit to state any material fact necessary in order to make the statements therein, in the light of the circumstances under which they
were made, not misleading.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(kk)</TD><TD STYLE="text-align: justify"><U>Incorporated Documents</U>. The documents incorporated by reference in the Disclosure Package and the
Prospectus, when they became effective or were filed with the SEC, as the case may be, conformed in all material respects to the requirements
of the Securities Act or the Exchange Act, as applicable, and the Rules&nbsp;and Regulations, and none of such documents contained an
untrue statement of a material fact or omitted to state a material fact required to be stated therein or necessary to make the statements
therein not misleading; any further documents so filed and incorporated by reference in the Disclosure Package and the Prospectus or any
further amendment or supplement thereto, when such documents become effective or are filed with the SEC, as the case may be, will conform
in all material respects to the requirements of the Securities Act or the Exchange Act, as applicable, and the Rules&nbsp;and Regulations
thereunder and will not contain an untrue statement of a material fact or omit to state a material fact required to be stated therein
or necessary to make the statements therein not misleading.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(ll)</TD><TD STYLE="text-align: justify"><U>WKSI; Ineligible Issuer Status</U>. (A)&nbsp;(i)&nbsp;At the time of filing the Registration Statement,
(ii)&nbsp;at the time of the most recent amendment thereto for the purposes of complying with Section&nbsp;10(a)(3)&nbsp;of the Securities
Act (whether such amendment was by post-effective amendment, incorporated report filed pursuant to Section&nbsp;13 or 15(d)&nbsp;of the
Exchange Act or form of prospectus), and (iii)&nbsp;at the time the Company or any person acting on its behalf (within the meaning, for
this clause only, of Rule&nbsp;163(c)&nbsp;under the Securities Act) made any offer relating to the Securities in reliance on the exemption
of Rule&nbsp;163 under the Securities Act, BIP was a &ldquo;well-known seasoned issuer&rdquo; as defined in Rule&nbsp;405 under the Securities
Act; and (B)&nbsp;(i)&nbsp;at the earliest time after the filing of the Registration Statement that the Company or another offering participant
made a bona fide offer (within the meaning of Rule&nbsp;164(h)(2)&nbsp;under the Securities Act) of the Securities and (ii)&nbsp;at the
date of this Agreement, BIP was not an &ldquo;ineligible issuer&rdquo; as defined in Rule&nbsp;405 under the Securities Act.</TD></TR></TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(mm)</TD><TD STYLE="text-align: justify"><U>No Distribution of Other Offering Materials</U>. None of the Company or the Guarantors or any of their
subsidiaries has distributed nor, prior to the later to occur of the Closing Date, and, if applicable, the Option Closing Date, and completion
of the distribution of the Securities will distribute any offering material in connection with the offer and sale of the Securities other
than the Disclosure Package, the Prospectus or any Issuer Free Writing Prospectus to which the Representatives have consented in accordance
with this Agreement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(nn)</TD><TD STYLE="text-align: justify"><U>Fair Summaries</U>. The statements set forth in the Disclosure Package and the Prospectus under the
caption &ldquo;Description of Debt Securities and Guarantees&rdquo; in the Base Prospectus and &ldquo;Description of the Notes&rdquo;
in the Prospectus Supplement, insofar as they purport to constitute a summary of the terms of the Securities, and under the headings &ldquo;Service
of Process and Enforceability of Civil Liabilities&rdquo; in the Base Prospectus, &ldquo;Item 8. Indemnification of Directors and Officers&rdquo;
in the Registration Statement and &ldquo;Underwriting&rdquo; in the Prospectus Supplement, insofar as they purport to describe the provisions
of the laws and documents referred to therein, are accurate in all material respects, subject to the qualifications and assumptions stated
therein.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(oo)</TD><TD STYLE="text-align: justify"><U>[Reserved.]</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(pp)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>No Unlawful Payments</U>. Each of BIP, its
subsidiaries and their respective officers, directors or employees and, to the knowledge of BIP, its agents and controlled affiliates,
has not violated, and by its participation in the offering will not violate, and BIP has instituted and maintains policies and procedures
designed to ensure continued compliance by each of the foregoing with the following laws: (a)&nbsp;anti-bribery laws, including, but not
limited to, any applicable law, rule, or regulation of any locality, including, but not limited to any law, rule, or regulation promulgated
to implement the OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions, signed December&nbsp;17,
1997, including the <I>U.S. Foreign Corrupt Practices Act of 1977</I>, the </FONT><I>Bribery Act 2010 of the United Kingdom </I>and the
<I>Corruption of Foreign Public Officials Act (Canada)</I>, each as amended, and the rules&nbsp;and regulations promulgated thereunder,
or any other law, rule&nbsp;or regulation of similar purpose and scope; (b)&nbsp;anti-money laundering laws, including, but not limited
to, applicable U.S. federal, state, international, foreign or other laws, regulations or government guidance regarding anti-money laundering,
including, without limitation, Title 18 U.S. Code section 1956 and 1957, the <I>Uniting and Strengthening America by Providing Appropriate
Tools Required to Intercept and Obstruct Terrorism (USA PATRIOT) Act of 2001</I>, as amended, and the rules&nbsp;and regulations promulgated
thereunder, the <I>Currency and Foreign Transactions Reporting Act of 1970</I>, as amended, and the rules&nbsp;and regulations promulgated
thereunder, the <I>Bank Secrecy Act</I>, the applicable anti-money laundering laws of all jurisdictions where BIP or any of its controlled
affiliates conducts business, the rules&nbsp;and regulations thereunder and any related or similar rules, regulations or guidelines issued,
administered or enforced by any governmental agency and international anti-money laundering principles or procedures by an intergovernmental
group or organization, such as the Financial Action Task Force on Money Laundering, of which the United States is a member and with which
designation the United States representative to the group or organization continues to concur, all as amended, and any executive order,
directive, or regulation pursuant to the authority of any of the foregoing, or any orders or licenses issued thereunder, and no action,
suit or proceeding by or before any court or governmental agency, authority or body or any arbitrator involving BIP or its controlled
affiliates with respect to the foregoing is pending or, to the knowledge of BIP, threatened; and (c)&nbsp;applicable Sanctions.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(qq)</TD><TD STYLE="text-align: justify"><U>Representation of Officers</U>. Any certificate signed by any officer of the Company and any certificate
signed by or on behalf of any Guarantor and delivered to the Underwriters or counsel for the Underwriters as required or contemplated
by this Agreement shall constitute a representation and warranty hereunder by the Company or such Guarantor, as applicable, as to matters
covered thereby, to each Underwriter.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(rr)</TD><TD STYLE="text-align: justify"><U>Disclosure Controls and Procedures</U>. BIP maintains disclosure controls and procedures (as such term
is defined in Rule&nbsp;13a-15(e)&nbsp;under the Exchange Act) that comply with the requirements of the Exchange Act; such disclosure
controls and procedures have been designed to ensure that material information required to be disclosed by BIP in reports that it files
or submits under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the SEC&rsquo;s
rules&nbsp;and forms, including controls and procedures designed to ensure that such information relating to BIP and its subsidiaries
is accumulated and made known to BIP&rsquo;s management as appropriate to allow timely decisions regarding required disclosure; and such
disclosure controls and procedures are effective.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(ss)</TD><TD STYLE="text-align: justify"><U>Cybersecurity</U>. The BIP Entities&rsquo; information technology assets and equipment, computers,
systems, networks, hardware, software, websites, applications, and databases (collectively, &ldquo;<B>IT Systems</B>&rdquo;) are adequate
for, and operate and perform in all material respects as required in connection with the operation of the business of the BIP Entities
as currently conducted, and to the best of the BIP Entities&rsquo; knowledge, are free and clear of all material bugs, errors, defects,
Trojan horses, time bombs, malware and other corruptants. BIP and its subsidiaries have implemented and maintained commercially reasonable
controls, policies, procedures, and safeguards to maintain and protect their material confidential information and the integrity, continuous
operation, redundancy and security of all IT Systems and data (including all personal, personally identifiable, sensitive, confidential
or regulated data (&ldquo;<B>Personal Data</B>&rdquo;)) used in connection with their businesses, and there have been (i)&nbsp;no breaches,
violations, outages or unauthorized uses of or accesses to the same, except for those that have been remedied without material cost or
liability or the duty to notify any other person, and (ii)&nbsp;no incidents under internal review or investigations relating to the same
except as where such breaches, violations, outages, unauthorized use or access, or incidents under internal review or investigations relating
to the same, would not, individually or in the aggregate, result in a Material Adverse Effect. The BIP Entities are presently in material
compliance with all applicable laws or statutes and all applicable judgments, orders, rules&nbsp;and regulations of any court or arbitrator
or governmental or regulatory authority having jurisdiction over the BIP Entities, and all internal policies and contractual obligations
relating to the privacy and security of IT Systems and Personal Data and to the protection of such IT Systems and Personal Data from unauthorized
use, access, misappropriation or modification.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(tt)</TD><TD STYLE="text-align: justify"><U>[Reserved.]</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(uu)</TD><TD STYLE="text-align: justify"><U>Stamp Duty</U>. No stamp, issue, registration, documentary, transfer or other similar taxes and duties,
including interest and penalties, are payable in Bermuda on or in connection with the issuance, sale and delivery of the Securities by
the Company or the execution and delivery of this Agreement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(vv)</TD><TD STYLE="text-align: justify"><U>eXtensible Business Reporting Language</U>. The interactive data in eXtensible Business Reporting Language
included or incorporated by reference in the Registration Statement fairly presents the information called for in all material respects
and has been prepared in accordance with the SEC&rsquo;s rules&nbsp;and guidelines applicable thereto.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(ww)</TD><TD STYLE="text-align: justify"><U>Statistical and Market-Related Data</U>. The statistical and market-related data included in the Disclosure
Package and the Prospectus and the consolidated financial statements of BIP and its subsidiaries included in the Disclosure Package and
the Prospectus are based on or derived from sources that BIP believes to be reliable in all material respects.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>12</B></TD><TD><B>Use of Proceeds</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The net proceeds from the offering will
be used in accordance with the description thereof under the caption &ldquo;Use of Proceeds&rdquo; in the Disclosure Package and the Prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>13</B></TD><TD><B>Conditions Precedent</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">13.1</TD><TD STYLE="text-align: justify">The following are conditions precedent to the obligation of the Underwriters to close the transaction
contemplated by this Agreement, which conditions each of the Company and the Guarantors covenant to exercise its best efforts to have
fulfilled at or prior to the Closing Time and, if applicable, the Option Closing Time, which conditions may be waived in writing in whole
or in part by the Underwriters:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">the Securities shall have attributes substantially as set forth in the Disclosure Package and the Prospectus;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">at the Closing Time and, if applicable, the Option Closing Time, each of the Company and the Guarantors
shall have delivered to the Underwriters a certificate, dated the Closing Date and, if applicable, the Option Closing Date, signed by
or on behalf of the Company and the Guarantors, as applicable, by any two officers authorized to so execute for or on behalf of such entity
satisfactory to the Underwriters, acting reasonably, and certifying that:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.25in">(i)</TD><TD STYLE="text-align: justify">except as disclosed in or contemplated by the Disclosure Package and the Prospectus, or any amendments
thereto:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in">(A)</TD><TD STYLE="text-align: justify">there has been, since December&nbsp;31, 2023 and prior to the Closing Time and, if applicable, the Option
Closing Time, no material change (financial or otherwise) in the business, affairs, operations, assets, liabilities (contingent or otherwise)
or capital of BIP or any of the Guarantors, as applicable, on a consolidated basis; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in">(B)</TD><TD STYLE="text-align: justify">no transaction of a nature material to the Company or any of the Guarantors, as applicable, on a consolidated
basis has been entered into, directly or indirectly, by the Company or any of the Guarantors since December&nbsp;31, 2023;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.25in">(ii)</TD><TD STYLE="text-align: justify">no order, ruling or determination (excluding temporary trading halts for the dissemination of information)
having the effect of ceasing or suspending trading in any securities of the Company or any Guarantor has been issued in the United States
and, to the Company&rsquo;s or such Guarantor&rsquo;s knowledge, as applicable, no proceedings for such purpose are pending, contemplated
or threatened;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.25in">(iii)</TD><TD STYLE="text-align: justify">the representations and warranties of the Company and the Guarantors contained herein are true and correct
in all respects (subject to materiality or other qualifications expressly set forth in such representations and warranties) as of the
Closing Time and, if applicable, the Option Closing Time, with the same force and effect as if made at and as of the Closing Time and,
if applicable, the Option Closing Time, except for representations and warranties that by their express terms are made as of a specific
date; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.25in">(iv)</TD><TD STYLE="text-align: justify">each of the Company and the Guarantors, as applicable, has complied with all terms and conditions of this
Agreement to be complied with by the Company or such Guarantor at or prior to the Closing Time and, if applicable, the Option Closing
Time,</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">and all such matters shall in fact be
true at the Closing Time and, if applicable, the Option Closing Time;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">the Underwriters shall have received evidence satisfactory to them, acting reasonably, that the Company
has submitted an application for listing the Notes on the NYSE;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">subsequent to the earlier of (A)&nbsp;the Applicable Time and (B)&nbsp;the execution and delivery of this
Agreement, (i)&nbsp;no downgrading shall have occurred in the rating accorded the Company or any of the Guarantors or any debt securities,
convertible securities or preferred stock issued, or guaranteed by, the Company, any of the BIP Entities or any of the Guarantors by any
 &ldquo;nationally recognized statistical rating organization,&rdquo; as such term is defined under Section&nbsp;3(a)(62) of the Exchange
Act and (ii)&nbsp;no such organization shall have publicly announced that it has under surveillance or review, or has changed its outlook
with respect to, its rating of the Company or any of the Guarantors or any such debt securities, convertible securities or preferred stock
issued or guaranteed by any of the Company, the BIP Entities or any of the Guarantors (other than an announcement with positive implications
of a possible upgrading);</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">on and as of the Closing Date and, if applicable, the Option Closing Date, the Securities shall have at
least the rating specified in the Disclosure Package from each of S&amp;P Global Ratings and Fitch Ratings Inc., and the Company shall
have delivered to the Underwriters a letter on or prior to the Closing Date and, if applicable, the Option Closing Date, from each of
S&amp;P Global Ratings and Fitch Ratings Inc., or other evidence reasonably satisfactory to the Underwriters, confirming that the Securities
have been assigned such rating;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(f)</TD><TD STYLE="text-align: justify">at the Closing Time and, if applicable, the Option Closing Time, Stradley Ronon Stevens&nbsp;&amp; Young,
LLP, special Investment Company Act counsel for the Company and the Guarantors, shall have furnished to the Underwriters, at the request
of the Company, their written opinion, dated the Closing Date and, if applicable, the Option Closing Date, and addressed to the Underwriters,
such letter to be in form and content satisfactory to the Underwriters and their counsel, acting reasonably;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(g)</TD><TD STYLE="text-align: justify">the Underwriters shall have received at the Closing Time and, if applicable, the Option Closing Time,
the letter from Deloitte LLP, updating their &ldquo;comfort letter&rdquo; referred to in Section&nbsp;6.1(b)&nbsp;to a date not more than
two business days prior to the date of such letter, each such letter to be in form and content satisfactory to the Underwriters and their
counsel, acting reasonably;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(h)</TD><TD STYLE="text-align: justify">at the Closing Time and, if applicable, the Option Closing Time, the Underwriters shall have received
a favorable legal opinion and 10b-5 negative assurance letter, dated the Closing Date and, if applicable, the Option Closing Date, on
behalf of the Company and the Guarantors from Torys LLP, the Company&rsquo;s and the Guarantor&rsquo;s U.S. and Canadian legal counsel,
addressed to the Underwriters with respect to such matters as may reasonably be requested by the Underwriters;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">at the Closing Time and, if applicable, the Option Closing Time, the Underwriters shall have received
a favorable legal opinion, dated the Closing Date and, if applicable, the Option Closing Date, on behalf of the Company and certain of
the Guarantors from Appleby (Bermuda) Limited addressed to the Underwriters and their counsel with respect to such matters as may reasonably
be requested by the Underwriters;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(j)</TD><TD STYLE="text-align: justify">at the Closing Time and, if applicable, the Option Closing Time, the Underwriters shall have received
a favorable legal opinion and 10b-5 negative assurance letter, dated the Closing Date and, if applicable, the Option Closing Date, from
their U.S. counsel, Milbank LLP, with respect to such matters as the Underwriters may reasonably request;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(k)</TD><TD STYLE="text-align: justify">[Reserved].</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(l)</TD><TD STYLE="text-align: justify">no order suspending the effectiveness of the Registration Statement shall be in effect, and no proceeding
for such purpose, pursuant to Rule&nbsp;401(g)(2)&nbsp;under the Securities Act or pursuant to Section&nbsp;8A of the Securities Act,
shall be pending before or threatened by the SEC; the Prospectus and each Issuer Free Writing Prospectus shall have been timely filed
with the SEC under the Securities Act (in the case of an Issuer Free Writing Prospectus, to the extent required by Rule&nbsp;433 under
the Securities Act) and in accordance with Section&nbsp;3.1 hereof; and all requests by the SEC for additional information shall have
been complied with to the reasonable satisfaction of the Representatives. On the Closing Date and, if applicable, the Option Closing Date,
the Indenture will comply in all material respects with the applicable requirements of the Trust Indenture Act and the rules&nbsp;thereunder;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(m)</TD><TD STYLE="text-align: justify">the Second Supplemental Indenture shall have been duly executed and delivered by a duly authorized officer
of the Company and the Trustee, and the Notes shall have been duly executed and delivered by a duly authorized officer of the Company
and duly authenticated by the Trustee;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(n)</TD><TD STYLE="text-align: justify">on the date of this Agreement and on the Closing Date and, if applicable, the Option Closing Date, BIP
and Triton shall have furnished to the Representatives a certificate, dated the respective dates of delivery thereof and addressed to
the Underwriters, of the chief financial officer of BIP, and of the chief financial officer of Triton, respectively, with respect to certain
pro forma financial statements of BIP and certain financial statements of Triton, respectively, incorporated by reference in the Disclosure
Package and the Prospectus, providing &ldquo;management comfort&rdquo; with respect to such information, in form and substance reasonably
satisfactory to the Representatives; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(o)</TD><TD STYLE="text-align: justify">the Securities to be delivered on the Closing Date and, if applicable, the Option Closing Date, shall
have been cleared for settlement and trading by DTC.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>14</B></TD><TD><B>Termination</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">14.1</TD><TD STYLE="text-align: justify">In addition to any other remedies which may be available to the Underwriters, any Underwriter shall be
entitled, at its option, to terminate and cancel its obligations under this Agreement, without any liability on their or its part, in
the following circumstances:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify"><U>Regulatory Proceeding Out</U>. if after the Applicable Time and prior to the Closing Time and, if applicable,
the Option Closing Time, an inquiry, action, suit, investigation or other proceeding is commenced or threatened or any order is made or
issued under or pursuant to any law of Canada or the United States or by any other regulatory authority or stock exchange (except any
such proceeding or order based solely upon the activities of any of the Underwriters), or there is any change of law or the interpretation
or administration thereof, which in such Underwriter&rsquo;s opinion, acting reasonably, would prevent, suspend, delay, restrict or adversely
affect the trading in or the distribution of the Securities or any other securities of the Company or the Guarantors in the United States;
or</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify"><U>Disaster Out</U>. if after the Applicable Time and prior to the Closing Time and, if applicable, the
Option Closing Time, there should develop, occur or come into effect or existence any event, action, state, condition or occurrence of
national or international consequence or any action, governmental law or regulation, enquiry or other occurrence of any nature whatsoever
which, in such Underwriter&rsquo;s sole opinion in its absolute discretion, acting reasonably, might be expected to have a significant
adverse effect on the market price or value of the Securities, including, without limitation, the outbreak or escalation of hostilities
involving the United States or Canada or the declaration by the United States or Canada of a national emergency or war or the occurrence
of any other calamity or crisis in the United States, Canada or elsewhere; or</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify"><U>Material Change</U>. if after the Applicable Time and prior to the Closing Time and, if applicable,
the Option Closing Time, there should occur, be discovered by the Underwriters or be announced by the Company or the Guarantors, any material
change or a change in any material fact which, in the sole opinion of such Underwriter, might reasonably be expected to have a significant
adverse effect on the market price or value of the Securities or makes it impracticable or inadvisable to proceed with the offer, sale
or delivery of the Securities on the Closing Date and, if applicable, the Option Closing Date, on the terms and in the manner contemplated
by this Agreement, the Disclosure Package and the Prospectus; or</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify"><U>Financial Market Out</U>. if there is a suspension or material limitation in trading in securities
generally on the NYSE, a suspension or material limitation in trading in the Company&rsquo;s or any Guarantor&rsquo;s securities on any
of the Exchanges or a general moratorium on commercial banking activities declared by either Canadian, U.S. Federal or New York State
authorities or a material disruption in commercial banking or securities settlement or clearance services in Canada or the United States
which, in each such instance, the effect is such as to make it, in the judgment of such Underwriter, acting reasonably, impracticable
or inadvisable to proceed with the offer, sale or delivery of the Securities on the Closing Date and, if applicable, the Option Closing
Date, on the terms and in the manner contemplated by this Agreement, the Disclosure Package and the Prospectus.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">14.2</TD><TD STYLE="text-align: justify">The rights of termination contained in Section&nbsp;14.1 may be exercised by any Underwriter giving written
notice thereof to the Company and the Representatives at any time prior to the Closing Time and, if applicable, the Option Closing Time,
and are in addition to any other rights or remedies the Underwriters may have in respect of any default, act or failure to act or non-compliance
by the Company and the Guarantors in respect of any of the matters contemplated by this Agreement or otherwise. In the event of any such
termination, there shall be no further liability or obligation on the part of the Underwriters to the Company and the Guarantors or on
the part of the Company and the Guarantors to the Underwriters except in respect of any liability or obligation under any of Sections
17 and 18 which will remain in full force and effect.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>15</B></TD><TD><B>Conditions</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">15.1</TD><TD STYLE="text-align: justify">All terms and conditions of this Agreement shall be construed as conditions and any material breach or
failure to comply in all material respects with any such terms or conditions which are for the benefit of the Underwriters shall entitle
any of the Underwriters to terminate their obligation to purchase the Securities by notice in writing to that effect given to the Company
at or prior to the Closing Time and, if applicable, the Option Closing Time. The Underwriters may waive in whole or in part or extend
the time for compliance with any of such terms and conditions without prejudice to their rights in respect of any other of such terms
and conditions or any other or subsequent breach or non-compliance, <I>provided</I> that to be binding on an Underwriter any such waiver
or extension must be in writing and signed by such Underwriter.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>16</B></TD><TD><B>Restrictions on Further Issues or Sales</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">16.1</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">For a period of 30 days after the date of the
Prospectus, the Company and BIP will not, without the prior written consent of the Representatives, offer, sell, contract to sell, pledge,
or otherwise dispose of, or enter into any transaction which is designed to, or might reasonably be expected to, result in the disposition
(whether by actual disposition or effective economic disposition due to cash settlement or otherwise) by the Company or BIP or the General
Partner or any controlled affiliate of BIP or the General Partner or any person in privity with BIP or the General Partner or any controlled
affiliate of BIP or the General Partner, directly or indirectly, including the filing (or participation in the filing) of a registration
statement with the SEC in respect of, or establish or increase a put equivalent position or liquidate or decrease a call equivalent position
within the meaning of Section&nbsp;16 of the Exchange Act, or announce the offering, in the United States of (i)&nbsp;any units of any
class of capital stock of BIP (other than the Exchange Preferred Units or the Series&nbsp;15 Preferred Units) that is preferred as to
the payment of distributions, or as to the distribution of assets upon any liquidation or dissolution of BIP, over the LP Units (including
any units of any class of partnership interests of BIP (other than the Exchange Preferred Units or the Series&nbsp;15 Preferred Units)
that ranks equally with the Exchange Preferred Units as to the payment of distributions or as to the distribution of assets upon any liquidation
or dissolution of the partnership (other than any Existing Canadian Preferred Units that are issued upon re-classification in accordance
with terms of the corresponding series of Existing Canadian Preferred Units as described under &ldquo;</FONT><I>Description of the Exchange
Preferred Units &mdash; Description of Class&nbsp;A Preferred Units &mdash; Series</I>&rdquo; in the Prospectus)), or (ii)&nbsp;any subordinate
debt securities of BIP or securities exchangeable or convertible into debt securities of BIP which are substantially similar to the Notes.
For the avoidance of doubt, nothing contained in this Section&nbsp;16 shall prohibit any disposition or offering by BIP, the General Partner,
their respective controlled affiliates or any other person of (i)&nbsp;the Class&nbsp;A Preferred Units outside of the United States,
(ii)&nbsp;the LP Units and securities convertible into, or otherwise exchangeable for, LP Units, including the filing (or participation
in the filing) of a registration statement with the SEC or any prospectus in respect of LP Units and securities convertible into, or otherwise
exchangeable for, LP Units, in each case, as contemplated by the Forms F-1 and F-3 (as amended from time to time) filed by BIP and Brookfield
Infrastructure Corporation with the SEC, (iii)&nbsp;debt securities of BIP or its subsidiaries or securities exchangeable or convertible
into debt securities of BIP or its subsidiaries which rank senior to the Notes, or (iv)&nbsp;indebtedness issued pursuant to BIP&rsquo;s
commercial paper program.</TD></TR></TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>17</B></TD><TD><B>Indemnification</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">17.1</TD><TD STYLE="text-align: justify">The Company and the Guarantors shall jointly and severally agree to indemnify and hold harmless each of
the Underwriters (which term, for the purpose of this Section&nbsp;shall be deemed to include affiliates of the Underwriters) and the
Underwriters&rsquo; directors, officers and employees and each person who controls any Underwriter within the meaning of Section&nbsp;15
of the Securities Act or Section&nbsp;20 of the Exchange Act (for the purposes of this Section&nbsp;17, the &ldquo;<B>Indemnified Underwriter
Parties</B>&rdquo;) from and against all liabilities, claims, demands, losses (other than loss of profit in connection with the distribution
of the Securities), costs, damages and expenses (including, without limitation, legal fees and other expenses incurred in connection with
any suit, action or proceeding or any claim asserted, as such fees and expenses are incurred), joint or several, in any way caused by
or arising directly or indirectly from or in consequence of:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">any breach of or default under any representation, warranty, covenant or agreement of the Company or the
Guarantors in this Agreement or any other document delivered pursuant hereto or thereto, or the failure of the Company or the Guarantors
to comply with any of its obligations hereunder or thereunder;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">any information or statement in the Disclosure Package and the Prospectus and any Subsequent Disclosure
Document, or any omission or alleged omission to state therein any information;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement
(or any amendment thereto) or any omission or alleged omission to state therein a material fact required to be stated therein or necessary
in order to make the statements therein not misleading;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">any untrue statement or alleged untrue statement of a material fact included in the Base Prospectus, any
Preliminary Prospectus, the Disclosure Package, the Prospectus (or any amendment or supplement thereto), any Issuer Free Writing Prospectus,
any &ldquo;issuer information&rdquo; filed or required to be filed pursuant to Rule&nbsp;433(d)&nbsp;under the Securities Act, any Subsequent
Disclosure Document or any other material filed in compliance or intended compliance with Securities Laws, or any omission or alleged
omission to state therein a material fact necessary in order to make the statements therein, in the light of the circumstances under which
they were made, not misleading;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">The Company or the Guarantors not complying with any applicable requirement of the Securities Laws, or
any breach or violation or alleged breach or violation of any Securities Laws or other applicable securities legislation of any jurisdiction;
or</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(f)</TD><TD STYLE="text-align: justify">any order made or any inquiry, investigation, or proceeding instituted, threatened or announced by any
court, securities regulatory authority, stock exchange, or other competent authority (except any such proceeding or order based solely
upon the activities of any of the Underwriters) or any change of law or the interpretation or administration thereof which operates to
prevent or restrict the trading in or the distribution of the Securities or any other securities of the Company or the Guarantors in the
United States;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>provided</I></FONT>
that the Company and the Guarantors shall cease to be liable for indemnification under this Section&nbsp;17.1 in respect of any liabilities,
claims, demands, losses, costs, damages and expenses that arise out of or are based upon any untrue statement or alleged untrue statement
of a material fact or any omission or alleged omission of a material fact made in the Base Prospectus, any Preliminary Prospectus, the
Disclosure Package, the Prospectus (or any amendment or supplement thereto), any Issuer Free Writing Prospectus, any &ldquo;issuer information&rdquo;
filed or required to be filed pursuant to Rule&nbsp;433(d)&nbsp;under the Securities Act, any Subsequent Disclosure Document or in any
other material so filed in reliance upon and in conformity with information in respect of any of the Underwriters furnished in writing
to the Company and each Guarantor by the Underwriters through the Representatives specifically for inclusion in such document, it being
understood and agreed that the only such information furnished by any Underwriter consists of the &ldquo;Underwriting Information&rdquo;
described in Section&nbsp;17.3 below. The rights of indemnity contained in this Section&nbsp;17.1 in respect of a claim based on an untrue
statement or omission or alleged untrue statement or omission in any Subsequent Disclosure Document shall not apply if the Company has
complied with Section&nbsp;7.1 and, if applicable, Sections 7.2 and 9.5 and the person asserting such claim was not provided with a copy
of any Subsequent Disclosure Document which corrects such untrue statement or omission of a material fact or alleged untrue statement
or omission of a material fact.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">17.2</TD><TD STYLE="text-align: justify">[Reserved.]</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">17.3</TD><TD STYLE="text-align: justify">Each Underwriter agrees, severally and not jointly, to indemnify and hold harmless the Company, each Guarantor
and each of their respective directors and officers who signed the Registration Statement and each person who controls the Company or
any Guarantor within the meaning of Section&nbsp;15 of the Securities Act or Section&nbsp;20 of the Exchange Act (for the purposes of
this Section&nbsp;17, the &ldquo;<B>Indemnified Company Parties</B>&rdquo; and together with the Indemnified Underwriter Parties, the
 &ldquo;<B>Indemnified Parties</B>&rdquo;) to the same extent as the indemnity set forth in 17.1(c)&nbsp;and (d)&nbsp;above, but only with
respect to any untrue statement or alleged untrue statement of a material fact or any omission or alleged omission made in reliance upon
and in conformity with written information furnished to the Company or any Guarantor by any Underwriter expressly for use in the Registration
Statement, any Preliminary Prospectus, the Prospectus (or any amendment or supplement thereto), any Issuer Free Writing Prospectus, the
Disclosure Package or any Subsequent Disclosure Document, it being understood and agreed that the only such information furnished by any
Underwriter consists of the following information under the heading &ldquo;Underwriting&rdquo; in the Preliminary Prospectus and the Prospectus
furnished on behalf of each Underwriter: the information related to stabilizing transactions, and syndicate covering transactions contained
in the two paragraphs under the subheading &ldquo;Price Stabilization; Short Positions&rdquo; thereunder (the &ldquo;<B>Underwriting Information</B>&rdquo;).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">17.4</TD><TD STYLE="text-align: justify">In order to provide for just and equitable contribution in circumstances in which the indemnification
provided for in Section&nbsp;17.1 is unavailable, in whole or in part, for any reason to an Indemnified Underwriter Party in respect of
any liabilities, claims, demands, losses, costs, damages and expenses referred to therein, the Company and the Guarantors shall contribute
to the amount paid or payable (or, if such indemnity is unavailable only in respect of a portion of the amount so paid or payable, such
portion of the amount so paid or payable) by such Indemnified Underwriter Party as a result of such liabilities, claims, demands, losses,
costs, damages and expenses:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">in such proportion as is appropriate to reflect the relative benefits received by the Company and the
Guarantors on the one hand and the Underwriters on the other hand from the offering of the Securities; or</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">if the allocation provided by clause (a)&nbsp;above is not permitted by applicable law, in such proportion
as is appropriate to reflect not only the relative benefits referred to in clause (a)&nbsp;above but also the relative fault of the Company
and the Guarantors, on the one hand, and the Underwriters, on the other hand, in connection with the matters or things referred to in
Section&nbsp;17.1 which resulted in such liabilities, claims, demands, losses, costs, damages or expenses, as well as any other relevant
equitable considerations,</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>provided</I></FONT>
that the Underwriters shall not in any event be liable to contribute, in the aggregate, any amount in excess of the Underwriting Commission
or any portion thereof actually received. The relative benefits received by the Company and the Guarantors, on the one hand, and the Underwriters,
on the other hand, shall be deemed to be in the same ratio as the total proceeds from the offering of the Securities (net of the Underwriting
Commission payable to the Underwriters but before deducting expenses), received by the Company and the Guarantors is to the Underwriting
Commission received by the Underwriters. The relative fault of the Company and the Guarantors on the one hand and of the Underwriters
on the other hand shall be determined by reference to, among other things, whether the matters or things referred to in Section&nbsp;17.1
that resulted in such liabilities, claims, demands, losses, costs, damages and expenses relate to information supplied by or steps or
actions taken or done or not taken or done by or on behalf of the Company and the Guarantors or to information supplied by or steps or
actions taken or done or not taken or done by or on behalf of the Underwriters and the relative intent, knowledge, access to information
and opportunity to correct or prevent such statement, omission or misrepresentation, or other matter or thing referred to in Section&nbsp;17.1.
The amount paid or payable by an Indemnified Underwriter Party as a result of the liabilities, claims, demands, losses, costs, damages
and expenses referred to above shall be deemed to include any legal or other expenses reasonably incurred by such Indemnified Underwriter
Party in connection with investigating or defending any such liabilities, claims, demands, losses, costs, damages and expenses, whether
or not resulting in an action, suit, proceeding or claim. The parties agree that it would not be just and equitable if contribution pursuant
to this Section&nbsp;17.4 were determined by any method of allocation which does not take into account the equitable considerations referred
to in this Section&nbsp;17.4. Notwithstanding the provisions of this Section&nbsp;17.4, in no event shall an Underwriter be required to
contribute any amount in excess of the amount by which the total Underwriting Commission received by such Underwriter with respect to
the offering of the Securities exceeds the amount of any damages that such Underwriter has otherwise been required to pay by reason of
such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the
meaning of Section&nbsp;11(f)&nbsp;of the Securities Act) shall be entitled to contribution from any person who was not guilty of such
fraudulent misrepresentation. The Underwriters&rsquo; obligations to contribute pursuant to this Section&nbsp;17.4 are several in proportion
to their respective purchase obligations hereunder and not joint.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">17.5</TD><TD STYLE="text-align: justify">If any claim contemplated by this Section&nbsp;17 shall be asserted against any Indemnified Party, the
Indemnified Party concerned shall promptly notify the Company and the Guarantors or the Underwriters, as applicable (referred to interchangeably
for purposes of this Section&nbsp;17 as the &ldquo;<B>Indemnifying Party</B>&rdquo;) of the nature of such claim (<I>provided</I> that
any failure to so notify promptly shall relieve the Indemnifying Party of liability under this Section&nbsp;17 only to the extent that
such failure prejudices the ability of the Indemnifying Party to defend such claim), and the Indemnifying Party shall, subject as hereinafter
provided, be entitled (but not required) to assume the defense of any suit or proceeding (including any governmental or regulatory investigation
or proceeding) brought to enforce such claim. Any such defense shall be through legal counsel acceptable to the Indemnified Party (whose
acceptance shall not be unreasonably withheld) and no admission of liability or settlement shall be made by the Indemnifying Party or
any Indemnified Party in respect of any Indemnified Party without the prior written consent of the other, such consent not to be unreasonably
withheld. An Indemnified Party shall have the right to employ separate counsel in any such suit and participate in the defense thereof
but the fees and expenses of such counsel shall be at the expense of the Indemnified Party unless: (i)&nbsp;the Indemnifying Party fails
to assume the defense of such suit on behalf of the Indemnified Party within a reasonable period of time; (ii)&nbsp;the employment of
such counsel has been authorized in writing by the Indemnifying Party; or (iii)&nbsp;the named parties to any such suit or proceeding
include both the Indemnified Party and the Indemnifying Party and the Indemnified Party shall have received a written opinion from counsel
that there may be one or more legal defenses available to the Indemnified Party which are different from or in addition to those available
to the Indemnifying Party (in which case, if such Indemnified Party notifies the Indemnifying Party in writing that it elects to employ
separate counsel at the expense of the Indemnifying Party, the Indemnifying Party shall not have the right to assume the defense of such
suit or proceeding on behalf of the Indemnified Party and shall be liable to pay the reasonable fees and expenses of counsel for the Indemnified
Party, it being understood, however, the Indemnifying Party shall not, in connection with any one such action or separate but substantially
similar or related actions in the same jurisdiction arising out of the same general allegations or circumstance, be liable for the reasonable
fees and expenses of more than one separate law firm (in addition to any local counsel) for all such Indemnified Parties). The Indemnifying
Party shall not be liable for any settlement of any action or suit effected without its written consent. It is the intention of the Company
and the Guarantors to constitute each of the Underwriters as trustees for the Underwriters&rsquo; directors, officers, employees, affiliates
and persons who control any of the Underwriters, of the covenants of the Company and the Guarantors under Section&nbsp;17.1 with respect
to the Indemnified Parties and the Underwriters agree to accept such trust and to hold and enforce such covenants on behalf of such persons.
The Indemnifying Party shall not, without the written consent of the Indemnified Party, effect any settlement of any pending or threatened
proceeding in respect of which any Indemnified Party is or could have been a party and indemnification could have been sought hereunder
by such Indemnified Party, unless such settlement (x)&nbsp;includes an unconditional release of such Indemnified Party, in form and substance
reasonably satisfactory to such Indemnified Party, from all liability on claims that are the subject matter of such proceeding and (y)&nbsp;does
not include any statement as to or any admission of fault, culpability or a failure to act by or on behalf of any Indemnified Party.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">17.6</TD><TD STYLE="text-align: justify">Each of the Company and the Guarantors waives all right of contribution by statute or common law which
it may have against the Underwriters in respect of losses, claims, costs, damages or liabilities which it may sustain as a direct or indirect
consequence of the Base Prospectus, any Preliminary Prospectus, the Disclosure Package, the Prospectus (or any amendment or supplement
thereto), any Issuer Free Writing Prospectus, any &ldquo;issuer information&rdquo; filed or required to be filed pursuant to Rule&nbsp;433(d)&nbsp;under
the Securities Act or any Subsequent Disclosure Document or any other document containing or being alleged to contain a misrepresentation.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">17.7</TD><TD STYLE="text-align: justify">The rights provided in this Section&nbsp;17 shall be in addition to and not in derogation of any other
right which the Underwriters may have by statute or otherwise at law.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>18</B></TD><TD><B>Expenses</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">18.1</TD><TD STYLE="text-align: justify">Whether or not the offering is completed, the Company will be responsible for all expenses of or incidental
to the creation, issue, delivery and marketing of the offering, including without limitation, all reasonable fees and disbursements of
the Company&rsquo;s legal counsel, all fees and disbursements of auditors, prospectus filing fees, rating agency fees and all expenses
related to marketing activities and printing costs; <I>provided, however</I>, that the Underwriters will be responsible for their &ldquo;out
of pocket&rdquo; expenses and the fees and disbursements of the Underwriters&rsquo; legal counsel. The Company will be responsible for
all fees and expenses of any Trustee and any agent of any Trustee and the reasonable fees and disbursements of counsel for any Trustee
in connection with any Indenture and the Securities. If the offering is terminated, other than by reason of a default of one of the Underwriters,
the Company shall reimburse the Underwriters for any and all expenses reasonably incurred by them.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>19</B></TD><TD><B>Several Obligations</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">19.1</TD><TD STYLE="text-align: justify">The obligations of the Underwriters to purchase the Securities shall be several and not joint, and the
percentage of the Securities that each of the Underwriters shall be severally obligated to purchase is as set forth in Schedule 1 to this
Agreement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">19.2</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">If one or more of the Underwriters shall fail
or refuse to purchase its applicable percentage of the Securities at the Closing Time or, if applicable, the Option Closing Time, and
the aggregate principal amount of Securities not purchased is less than or equal to </FONT>5.1% of the aggregate principal amount of Securities
agreed to be purchased by the Underwriters pursuant to this Agreement, each of the other Underwriters shall be obligated to purchase severally
and not jointly, the Securities not taken up, on a <I>pro rata</I> basis or as they may otherwise agree as between themselves.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">19.3</TD><TD STYLE="text-align: justify">If one or more of the Underwriters shall fail or refuse to purchase its applicable percentage of the Securities
at the Closing Time or, if applicable, the Option Closing Time, and the aggregate principal amount of Securities not purchased is greater
than 5.1% of the aggregate principal amount of Securities agreed to be purchased by the Underwriters pursuant to this Agreement, those
of the Underwriters who shall be willing and able to purchase their respective percentage of the Securities shall have the right, but
not the obligation, to purchase severally the Securities not taken up on a <I>pro rata</I> basis or as they may otherwise agree as between
themselves. In the event that such right is not exercised, the Underwriter or Underwriters that are willing and able to purchase its or
their respective percentage of the Securities shall be relieved, without liability, of its or their obligations to purchase its or their
respective percentage of the Securities on submission to the Company of reasonable evidence of its or their ability and willingness to
fulfil its or their obligations under this Agreement at the Closing Time or the Option Closing Time, as the case may be.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">19.4</TD><TD STYLE="text-align: justify">Notwithstanding anything contained in Sections 19.2 or 19.3, nothing in this Section&nbsp;19 shall oblige
the Company to sell to the Underwriters less than all of the Securities. In addition, nothing contained in Sections 19.2 or 19.3 shall
relieve from responsibility to the Company any one of the Underwriters who shall default in its obligation to purchase its respective
percentage of the Securities.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>20</B></TD><TD><B>Authority of the Representatives</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">20.1</TD><TD STYLE="text-align: justify">All steps which must or may be taken by the Underwriters in connection with this Agreement, with the exception
of any waiver of a material condition precedent pursuant to Section&nbsp;13, any notice of termination pursuant to Section&nbsp;14, any
settlement of an indemnified claim pursuant to Section&nbsp;17 and any agreement to amend this Agreement, may be taken by the Representatives
on the Underwriters&rsquo; behalf, after consultation with the other Underwriters, and this is the authority to the Company for accepting
notification of any such steps from the Representatives on their behalf without any further investigation or inquiry.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>21</B></TD><TD><B>Notices</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">21.1</TD><TD STYLE="text-align: justify">Any notices or other communication that may be required or desired to be given pursuant to this Agreement
may be given in writing by email or by hand delivery, delivery or other charges prepaid, and:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD>in the case of notice to the Company or any Guarantor, be addressed to:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Brookfield Infrastructure Finance ULC<BR>
181 Bay Street, Suite&nbsp;100&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Brookfield Place&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Toronto, Ontario&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Canada M5J 2T3</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 1in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Attention:</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Corporate Secretary</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 1in; text-align: left"><FONT STYLE="font-size: 10pt">Telecopy:</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">(441) 296-4475</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">with a copy (which shall not constitute notice) to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Torys LLP<BR>
1114 Avenue of the Americas<BR>
23rd Floor<BR>
New York, New York 10036-7703</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 1in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Attention:</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Mile Kurta / Christopher R. Bornhorst</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 1in; text-align: left"><FONT STYLE="font-size: 10pt">Email:</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">[Redacted] / [Redacted]</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">in the case of notice to the Underwriters, be addressed to:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Wells Fargo Securities, LLC&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">550 South Tryon Street, 5th Floor&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Charlotte, NC 28202&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Attention: Transaction Management&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Email:
</FONT><FONT STYLE="font-size: 10pt">[Redacted]</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">BofA Securities,&nbsp;Inc.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">1540 Broadway&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">NY8-540-26-02&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">New York, New York 10036&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Facsimile: (646) 855-5958&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Attention: High Grade Transaction Management/Legal&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Email: [Redacted]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">J.P. Morgan Securities LLC&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">383 Madison Avenue&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">New York, NY 10179&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Attn: Investment Grade Syndicate Desk&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Fax: (212) 834-6081</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Morgan Stanley&nbsp;&amp; Co. LLC&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">1585 Broadway, 29th Floor&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">New York, New York 10036&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Attention: Investment Banking Division&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Fax: (212) 507-8999</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">RBC Capital Markets, LLC&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Brookfield Place</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">200 Vesey Street, 8th Floor&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">New York, NY 10281&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Telephone: (212) 618-7706&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Email: [Redacted]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Attention: DCM Transaction Management/Scott Primrose</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">UBS Securities LLC&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">1285 Avenue of the Americas&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">New York, New York 10019&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Attention: Fixed Income Syndicate&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Telephone: 203-719-1088</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">with copies (which shall not constitute notice) to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Milbank LLP&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">55 Hudson Yards&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">New York, New York 10001</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 1in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Attention:</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Paul Denaro</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 1in; text-align: left"><FONT STYLE="font-size: 10pt">Email:</FONT></TD><TD STYLE="text-align: justify">[Redacted]</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Any such notice or other communication shall be
deemed to be given at the time emailed or delivered, if emailed or delivered to the recipient on a business day (in New York City) and
before 5:00 p.m.&nbsp;(New York City time) on such business day, and otherwise shall be deemed to be given at 9:00 a.m.&nbsp;(New York
City time) on the next following business day (in New York City).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>22</B></TD><TD><B>Recognition of the Special Resolution Regimes</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">22.1</TD><TD STYLE="text-align: justify">In the event that any Underwriter that is a Covered Entity becomes subject to a proceeding under a Special
Resolution Regime, the transfer from such Underwriter of this Agreement, and any interest and obligation in or under this Agreement, will
be effective to the same extent as the transfer would be effective under such Special Resolution Regime if this Agreement, and any such
interest and obligation, were governed by the laws of the United States or a state of the United States.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">22.2</TD><TD STYLE="text-align: justify">In the event that any Underwriter that is a Covered Entity or a BHC Act Affiliate of such Underwriter
becomes subject to a proceeding under a Special Resolution Regime, Default Rights under this Agreement that may be exercised against such
Underwriter are permitted to be exercised to no greater extent than such Default Rights could be exercised under the Special Resolution
Regime if this Agreement were governed by the laws of the United States or a state of the United States.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As used in this Section&nbsp;22:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<B>BHC Act Affiliate</B>&rdquo; has the
meaning assigned to the term &ldquo;affiliate&rdquo; in, and shall be interpreted in accordance with, 12 U.S.C. &sect; 1841(k).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<B>Covered Entity</B>&rdquo; means any
of the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.4in">&nbsp;&nbsp;(i)</TD><TD STYLE="text-align: justify">a &ldquo;covered entity&rdquo; as that term is defined in, and interpreted in accordance with, 12 C.F.R.
 &sect; 252.82(b);</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.4in">&nbsp;(ii)</TD><TD STYLE="text-align: justify">a &ldquo;covered bank&rdquo; as that term is defined in, and interpreted in accordance with, 12 C.F.R.
 &sect; 47.3(b); or</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.4in">(iii)</TD><TD STYLE="text-align: justify">a &ldquo;covered FSI&rdquo; as that term is defined in, and interpreted in accordance with, 12 C.F.R.
 &sect; 382.2(b).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<B>Default Right</B>&rdquo; has the meaning
assigned to that term in, and shall be interpreted in accordance with, 12 C.F.R. &sect;&sect; 252.81, 47.2 or 382.1, as applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<B>Special Resolution Regime</B>&rdquo;
means each of (i)&nbsp;the Federal Deposit Insurance Act and the regulations promulgated thereunder and (ii)&nbsp;Title II of the Dodd-Frank
Wall Street Reform and Consumer Protection Act and the regulations promulgated thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>23</B></TD><TD><B>Miscellaneous</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">23.1</TD><TD STYLE="text-align: justify">In connection with the distribution of the Securities, the Underwriters and members of their selling group
(if any) may, in conformity with all applicable laws, effect transactions which stabilize or maintain the market price of the Securities
at levels above those which might otherwise prevail on the open market in compliance with Securities Laws. Such stabilizing transactions,
if any, may be discontinued at any time.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">23.2</TD><TD STYLE="text-align: justify">The representations and warranties contained in this Agreement or in documents submitted pursuant to this
Agreement and in connection with the transactions contemplated hereby shall survive the purchase by the Underwriters of the Securities
and shall continue in full force and effect unaffected by any subsequent disposition by the Underwriters of the Securities; <I>provided
</I>that with respect to any action brought in any court of competent jurisdiction in Canada such representations and warranties shall
continue in full force and effect for three years from such date of the issuance of the Securities.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">23.3</TD><TD STYLE="text-align: justify">Time shall be of the essence of this Agreement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">23.4</TD><TD STYLE="text-align: justify">This Agreement may be executed in several counterparts by facsimile or electronic PDF copy, each of which
when so executed shall be deemed to be an original but which together will constitute one and the same agreement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">23.5</TD><TD STYLE="text-align: justify">This Agreement constitutes the entire agreement between the parties with respect to the subject matter
hereof and supersedes all prior agreements and understandings, both written and oral, among such parties with respect to the subject matter
hereof.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">23.6</TD><TD STYLE="text-align: justify">If any provision of this Agreement is determined to be void or unenforceable in whole or in part, it shall
be deemed not to affect or impair the validity of any other provision of this Agreement and such void or unenforceable provision shall
be severable from this Agreement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">23.7</TD><TD STYLE="text-align: justify">This Agreement shall be governed by and interpreted in accordance with the laws of the State of New York.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">23.8</TD><TD STYLE="text-align: justify">Each of the Company and the Guarantors hereby submits to the non-exclusive jurisdiction of the courts
of the State of New York in the City and County of New York and of the United States for the Southern District of New York and the federal
and provincial courts in the Province of Ontario in any suit or proceeding arising out of or relating to this Agreement or the transactions
contemplated hereby. Each of the Company and the Guarantors irrevocably and unconditionally waives any objection to the laying of venue
of any suit or proceeding arising out of or relating to this Agreement or the transactions contemplated hereby in the courts of the State
of New York in the City and County of New York and of the United States for the Southern District of New York and the federal and provincial
courts in the Province of Ontario and irrevocably and unconditionally waives and agrees not to plead or claim in any such court that any
such suit or proceeding in any such court has been brought in an inconvenient forum. Each of the Company and the Guarantors other than
Brookfield Infrastructure LLC irrevocably appoints Brookfield Infrastructure LLC as its authorized agent in the Borough of Manhattan in
the City of New York upon which process may be served in any such suit or proceeding, and agrees that service of process upon such agent,
and written notice of said service to the Company or the Guarantors by the person serving the same to the address provided in Section&nbsp;21.1(a),
shall be deemed in every respect effective service of process upon the Company or the Guarantors in any such suit or proceeding. Each
of the Company and the Guarantors further agrees to take any and all action as may be necessary to maintain such designation and appointment
of such agent in full force and effect for a period of seven years from the date of this Agreement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">23.9</TD><TD STYLE="text-align: justify">Each of the Company and the Guarantors acknowledges and agrees that (a)&nbsp;the purchase and sale of
the Securities pursuant to this Agreement, including the determination of the Public Offering Price, and any related discounts and commissions,
is an arm&rsquo;s-length commercial transaction between the Company and the Guarantors, on the one hand, and the several Underwriters,
on the other hand, (b)&nbsp;in connection with the offering and the process leading to such transaction, each Underwriter is and has been
acting solely as a principal and is not the agent or fiduciary of the Company or the Guarantors or any of their equityholders, creditors,
employees or any other party, (c)&nbsp;no Underwriter has assumed or will assume an advisory or fiduciary responsibility in favor of the
Company or the Guarantors with respect to the offering or the process leading thereto (irrespective of whether such Underwriter has advised
or is currently advising the Company or the Guarantors on other matters) and no Underwriter has any obligation to the Company or the Guarantors
with respect to the offering except the obligations expressly set forth in this Agreement, (d)&nbsp;the Underwriters and their respective
affiliates may be engaged in a broad range of transactions that involve interests that differ from those of the Company or the Guarantors,
(e)&nbsp;each of the Company and the Guarantors acknowledges that none of the activities of the Underwriters in connection with the offering
of the Securities constitutes a recommendation, investment advice or solicitation or any action by the Underwriters with respect to the
Company and the Guarantors and (f)&nbsp;the Underwriters have not provided any legal, accounting, regulatory or tax advice with respect
to the offering and each of the Company and the Guarantors has consulted its own legal, accounting, regulatory and tax advisors to the
extent each deems appropriate.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">23.10</TD><TD STYLE="text-align: justify">THE COMPANY, EACH OF THE GUARANTORS AND EACH OF THE UNDERWRITERS HEREBY IRREVOCABLY WAIVES, TO THE FULLEST
EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT
OR THE TRANSACTIONS CONTEMPLATED HEREBY.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">23.11</TD><TD STYLE="text-align: justify">The headings herein are inserted for convenience of reference only and are not intended to be part of,
or to affect the meaning or interpretation of, this Agreement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">23.12</TD><TD STYLE="text-align: justify">Counterparts may be delivered via facsimile, electronic mail (including any electronic signature covered
by the U.S. federal ESIGN Act of 2000, Uniform Electronic Transactions Act, the Electronic Signatures and Records Act or other applicable
law, e.g., www.docusign.com) or other transmission method and any counterpart so delivered shall be deemed to have been duly and validly
delivered and be valid and effective for all purposes.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><I>[Signature Pages&nbsp;Follow]</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Accepted and agreed to as of the date first written above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>BROOKFIELD INFRASTRUCTURE FINANCE ULC</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 4%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 46%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ David Krant</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">Name: David Krant</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">Title: Senior Vice President</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">As Guarantors:</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>BROOKFIELD INFRASTRUCTURE PARTNERS L.P.</B></FONT><FONT STYLE="font-size: 10pt">, by its general partner, <B>BROOKFIELD INFRASTRUCTURE PARTNERS LIMITED</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.75pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 5.75pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 4%; padding-right: 5.75pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 46%; padding-right: 5.75pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Jane Sheere</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">Name: Jane Sheere</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">Title: Secretary</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>BROOKFIELD INFRASTRUCTURE L.P.</B></FONT><FONT STYLE="font-size: 10pt">, by its managing general partner, <B>BROOKFIELD INFRASTRUCTURE PARTNERS L.P.</B>, by its general partner, <B>BROOKFIELD INFRASTRUCTURE PARTNERS LIMITED</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.75pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.75pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Jane Sheere</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">Name: Jane Sheere</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">Title: Secretary</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>BIP BERMUDA HOLDINGS I LIMITED</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.75pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.75pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Jane Sheere</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">Name: Jane Sheere</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">Title: Secretary</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 46 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>BROOKFIELD INFRASTRUCTURE HOLDINGS (CANADA) INC.</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 4%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 46%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ David Krant</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">Name: David Krant</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">Title: Senior Vice President</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>BROOKFIELD INFRASTRUCTURE LLC</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Ralph Klatzkin</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">Name: Ralph Klatzkin</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">Title: Vice President</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>BIPC HOLDINGS INC.</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ David Krant</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">Name: David Krant</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">Title: Senior Vice President</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Very truly yours,</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">WELLS FARGO SECURITIES, LLC</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 5%"><FONT STYLE="font-size: 10pt">By: </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 45%"><FONT STYLE="font-size: 10pt">/s/ Jake Horstman</FONT></TD>
    <TD STYLE="width: 50%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Name: Jake Horstman&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Title: Managing Director</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">BOFA SECURITIES,&nbsp;INC.</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 5%"><FONT STYLE="font-size: 10pt">By: </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 45%"><FONT STYLE="font-size: 10pt">/s/ Jon Klein</FONT></TD>
    <TD STYLE="width: 50%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Name: Jon Klein&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Title: Managing Director</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">J.P. MORGAN SECURITIES LLC</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 5%"><FONT STYLE="font-size: 10pt">By: </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 45%"><FONT STYLE="font-size: 10pt">/s/ Som Bhattacharyya</FONT></TD>
    <TD STYLE="width: 50%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Name: Som Bhattacharyya&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Title: Executive Director</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">MORGAN STANLEY&nbsp;&amp; CO.
    LLC</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 5%"><FONT STYLE="font-size: 10pt">By: </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 45%"><FONT STYLE="font-size: 10pt">/s/ Natalie Smithson</FONT></TD>
    <TD STYLE="width: 50%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Name: Natalie Smithson&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Title: Vice President</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">RBC CAPITAL MARKETS, LLC</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 5%"><FONT STYLE="font-size: 10pt">By: </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 45%"><FONT STYLE="font-size: 10pt">/s/ Scott G. Primrose</FONT></TD>
    <TD STYLE="width: 50%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Name: Scott G. Primrose&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Title: Authorized Signatory</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">UBS SECURITIES LLC</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 5%"><FONT STYLE="font-size: 10pt">By: </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 45%"><FONT STYLE="font-size: 10pt">/s/ Dominic Hills</FONT></TD>
    <TD STYLE="width: 50%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Name: Dominic Hills</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Title: Associate Director</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">By: </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">/s/ Jay Anderson</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Name: Jay Anderson&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Title: Managing Director</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Schedule 1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; font: 10pt Times New Roman, Times, Serif; text-align: justify; border-bottom: Black 1pt solid">Underwriter</TD><TD STYLE="white-space: nowrap; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Aggregate Principal<BR>
 Amount of Firm Notes<BR>
 to be Purchased</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 86%; font: 10pt Times New Roman, Times, Serif; text-align: justify">Wells Fargo Securities, LLC</TD><TD STYLE="width: 2%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right">24,000,000</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify">BofA Securities,&nbsp;Inc.</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">24,000,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify">J.P. Morgan Securities LLC</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">24,000,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify">Morgan Stanley&nbsp;&amp; Co. LLC</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">24,000,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify">RBC Capital Markets, LLC</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">24,000,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify">UBS Securities LLC</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">24,000,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify">Canaccord Genuity LLC</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">3,000,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify">Santander US Capital Markets LLC</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">3,000,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">Total&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#8239;&#8239;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">150,000,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Schedule A</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pricing Term Sheet dated May&nbsp;29, 2024.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">US$150,000,000 7.250% Subordinated Notes due 2084
(the &ldquo;Notes&rdquo;)<BR>
May&nbsp;29, 2024</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>The
information in this pricing term sheet relates to Brookfield Infrastructure Finance ULC&rsquo;s offering of the Notes and should be read
together with the preliminary prospectus supplement dated </I></FONT><I><FONT STYLE="font-size: 10pt">May&nbsp;29</FONT>, 2024 relating
to the offering (the &ldquo;Preliminary Prospectus Supplement&rdquo;), including the documents incorporated by reference therein, and
the base prospectus dated April&nbsp;5, 2024, included in the registration statement on Form&nbsp;F-3ASR (File No.&nbsp;333-278529<FONT STYLE="font-size: 10pt">)</FONT>
filed under the Securities Act of 1933, as amended. Terms used herein but not defined herein shall have the meanings as set forth in the
Preliminary Prospectus Supplement. All references to dollar amounts are references to U.S. dollars.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: top; width: 32%; padding-right: 0.05in; padding-left: 10pt; text-align: justify; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Issuer: </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 68%; padding-right: 0.05in; padding-left: 0.05in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Brookfield Infrastructure Finance ULC (the &ldquo;<B>Issuer</B>&rdquo;) </FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 0.05in; padding-left: 10pt; text-align: justify; text-indent: -10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 0.05in; padding-left: 10pt; text-align: justify; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Guarantors: </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Brookfield Infrastructure Partners L.P. (the &ldquo;<B>Partnership</B>&rdquo;)</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Brookfield Infrastructure L.P.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">BIP Bermuda Holdings I Limited</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Brookfield Infrastructure Holdings (Canada) Inc.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Brookfield Infrastructure LLC</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">BIPC Holdings Inc.</P></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 0.05in; padding-left: 10pt; text-align: justify; text-indent: -10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 0.05in; padding-left: 10pt; text-align: justify; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Security: </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">US$150,000,000 7.250% Subordinated Notes due 2084</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 0.05in; padding-left: 10pt; text-align: justify; text-indent: -10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 0.05in; padding-left: 10pt; text-align: justify; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Ranking: </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Subordinated unsecured</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 0.05in; padding-left: 10pt; text-align: justify; text-indent: -10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 0.05in; padding-left: 10pt; text-align: justify; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Principal Amount of Notes: </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">US$150,000,000 (or US$172,500,000 if the underwriters exercise the Over-Allotment Option in full).</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 0.05in; padding-left: 10pt; text-align: justify; text-indent: -10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 0.05in; padding-left: 10pt; text-align: justify; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Denominations: </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Minimum denominations of US$25 and integral multiples of US$25 in excess thereof.</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 0.05in; padding-left: 10pt; text-align: justify; text-indent: -10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 0.05in; padding-left: 10pt; text-align: justify; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Maturity: </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">May&nbsp;31, 2084.</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 0.05in; padding-left: 10pt; text-align: justify; text-indent: -10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 0.05in; padding-left: 10pt; text-align: justify; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Coupon:</B></FONT><B> </B></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7.250%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 0.05in; padding-left: 10pt; text-align: justify; text-indent: -10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.05in; padding-left: 10pt; text-align: justify; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Regular Record Dates for Interest: </B></FONT></TD>
    <TD STYLE="padding-right: 0.05in; padding-left: 0.05in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">March&nbsp;16, June&nbsp;15, September&nbsp;15 and December&nbsp;16, whether or not such day is a business day</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.05in; padding-left: 10pt; text-align: justify; text-indent: -10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.05in; padding-left: 0.05in; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.05in; padding-left: 10pt; text-align: justify; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Interest Payment Dates</B></FONT>:<B> </B></TD>
    <TD STYLE="padding-right: 0.05in; padding-left: 0.05in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">March&nbsp;31, June&nbsp;30, September&nbsp;30 and December&nbsp;31, commencing on&nbsp;&nbsp;September&nbsp;30, 2024 </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.05in; padding-left: 10pt; text-align: justify; text-indent: -10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.05in; padding-left: 0.05in; text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 0.05in; padding-left: 10pt; text-align: justify; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Day Count Convention: </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">30/360</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 0.05in; padding-left: 10pt; text-align: justify; text-indent: -10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.05in; padding-left: 10pt; text-align: justify; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Interest Deferral Right: </B></FONT></TD>
    <TD STYLE="padding-right: 0.05in; padding-left: 0.05in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">So long as no event of default has occurred and is continuing, the Issuer may elect, at its sole option, at any date other than an Interest Payment Date, to defer the interest payable on the Notes on one or more occasions for up to five consecutive years. There is no limit on the number of Deferral Periods that may occur. Any such deferral will not constitute an event of default or any other breach under the Indenture and the Notes. Deferred interest will accrue until paid. A Deferral Period terminates on any Interest Payment Date where the Issuer pays all accrued and unpaid interest on such date. No Deferral Period may extend beyond the Maturity Date. </FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 0.05in; padding-left: 10pt; text-align: justify; text-indent: -10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 0.05in; padding-left: 10pt; text-align: justify; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>First Call Date: </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">May&nbsp;31, 2029</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 0.05in; padding-left: 10pt; text-align: justify; text-indent: -10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: justify">&nbsp;</TD></TR>
</TABLE>

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<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 0.05in; padding-left: 10pt; text-align: justify; text-indent: -10pt; width: 32%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Optional Redemption: </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: justify; width: 68%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">On or after May&nbsp;31, 2029, the Issuer may, at its option, on giving not more than 60&nbsp;nor less than 10&nbsp;days&rsquo; notice to the holders of the Notes, redeem the Notes, in whole at any time or in part from time to time. The redemption price will be 100% of the principal amount of the Notes being redeemed, together with accrued and unpaid interest to, but excluding, the date fixed for redemption. Notes that are redeemed shall be cancelled and shall not be reissued.</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 0.05in; padding-left: 10pt; text-align: justify; text-indent: -10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 0.05in; padding-left: 10pt; text-align: justify; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Redemption on Rating Event: </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">At any time following the occurrence of a Rating Event, the Issuer may, at its option, redeem the Notes (in whole but not in part) at a redemption price equal to 102% of the principal amount thereof, together with accrued and unpaid interest to, but excluding, the date fixed for redemption.</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 0.05in; padding-left: 10pt; text-align: justify; text-indent: -10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 0.05in; padding-left: 10pt; text-align: justify; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Redemption on Tax Event: </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">At any time after the occurrence of a Tax Event, subject to applicable laws, the Issuer may, at its option, redeem the Notes (in whole but not in part) at a redemption price equal to 100% of the principal amount thereof, together with accrued and unpaid interest to, but excluding, the relevant redemption date.</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 0.05in; padding-left: 10pt; text-align: justify; text-indent: -10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 0.05in; padding-left: 10pt; text-align: justify; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Trade Date: </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">May&nbsp;29, 2024</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 0.05in; padding-left: 10pt; text-align: justify; text-indent: -10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 0.05in; padding-left: 10pt; text-align: justify; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Expected Settlement Date**: </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">May&nbsp;31, 2024 (T+2)</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 0.05in; padding-left: 10pt; text-align: justify; text-indent: -10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 0.05in; padding-left: 10pt; text-align: justify; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Price to Public: </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100% (plus accrued interest, if any, from and including May&nbsp;31, 2024 if settlement of the Notes occurs after that date)</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 0.05in; padding-left: 10pt; text-align: justify; text-indent: -10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 0.05in; padding-left: 10pt; text-align: justify; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Underwriting Discounts: </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">US$0.7875 per Note for retail investors (US$4,142,250
    in the aggregate)</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">US$0.5000 per Note for institutional investors
    (US$370,000 in the aggregate)</P></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 0.05in; padding-left: 10pt; text-align: justify; text-indent: -10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 0.05in; padding-left: 10pt; text-align: justify; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Net Proceeds (before expenses): </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">US$145,487,750.00</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 0.05in; padding-left: 10pt; text-align: justify; text-indent: -10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 0.05in; padding-left: 10pt; text-align: justify; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Listing: </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Issuer intends to apply to list the Notes on the New York Stock Exchange under the symbol &ldquo;BIPJ&rdquo;.</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 0.05in; padding-left: 10pt; text-align: justify; text-indent: -10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 0.05in; padding-left: 10pt; text-align: justify; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Automatic Exchange: </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Notes, including accrued and unpaid interest
thereon, will be exchanged automatically (the &ldquo;<B>Automatic Exchange</B>&rdquo;), without the consent of the holders thereof, into
units of a newly issued series of Class&nbsp;A Preferred Units, being Class&nbsp;A Preferred Limited Partnership Units, Series&nbsp;16
(the &ldquo;<B>Exchange Preferred Units</B>&rdquo;) upon the occurrence of: (i)&nbsp;the making by the Issuer of a general assignment
for the benefit of its creditors or a proposal (or the filing of a notice of its intention to do so) under the <I>Bankruptcy and Insolvency
Act</I> (Canada); (ii)&nbsp;any proceeding instituted by the Issuer and/or the Partnership seeking to adjudicate them as bankrupt (including
any voluntary assignment in bankruptcy) or insolvent or, where the Issuer and/or the Partnership are insolvent, seeking liquidation,
winding up, dissolution, reorganization, arrangement, compromise, adjustment, protection, relief or composition of their debts under
any law relating to bankruptcy or insolvency in Canada or Bermuda (as applicable), or seeking the entry of an order for the appointment
of a receiver, interim receiver, trustee or other similar official for the Issuer and/or the Partnership or in respect of all or any
substantial part of their property and assets in circumstances where the Issuer and/or the Partnership are adjudged as bankrupt (including
any voluntary assignment in bankruptcy) or insolvent; (iii)&nbsp;a receiver, interim receiver, trustee or other similar official is appointed
over the Issuer and/or the Partnership or for all or substantially all of their property and assets by a court of competent jurisdiction
in circumstances where the Issuer and/or the Partnership are adjudged as bankrupt (including any voluntary assignment in bankruptcy)
or insolvent under any law relating to bankruptcy or insolvency in Canada or Bermuda (as applicable); or (iv)&nbsp;any proceeding is
instituted against the Issuer and/or the Partnership seeking to adjudicate them as bankrupt (including any voluntary assignment in bankruptcy)
or insolvent, or where the Issuer and/or the Partnership are insolvent, seeking liquidation, winding up, dissolution, reorganization,
arrangement, compromise, adjustment, protection, relief or composition of their debts under any law relating to bankruptcy or insolvency
in Canada or Bermuda (as applicable), or seeking the entry of an order for the appointment of a receiver, interim receiver, trustee or
other similar official for the Issuer and/or the Partnership or in respect of all or any substantial part of their property and assets
in circumstances where the Issuer and/or the Partnership are adjudged as bankrupt or insolvent under any law relating to bankruptcy or
insolvency in Canada or Bermuda (as applicable), and in any such case, such proceeding has not been stayed or dismissed within 60 days
of the institution of any such proceeding or the actions sought in such proceedings occur (including the entry of an order for relief
against the Issuer and/or the Partnership or the appointment of a receiver, interim receiver, trustee, or other similar official for
them or for all or substantially all of their property and assets) (each, an &ldquo;<B>Automatic Exchange Event</B>&rdquo;).&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 0.05in; padding-left: 10pt; text-align: justify; text-indent: -10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: justify">&nbsp;</TD></TR>
</TABLE>

<P STYLE="margin: 0"></P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
  <TD STYLE="width: 32%">&nbsp;</TD>
  <TD STYLE="padding-right: 5.4pt; width: 68%; padding-left: 5.4pt">The Automatic Exchange shall occur upon an Automatic Exchange Event (the &ldquo;<B>Exchange Time</B>&rdquo;). As of the Exchange Time,
noteholders will have the right to receive one Exchange Preferred Unit for each $25 principal amount of Notes held together with the
number of Exchange Preferred Units (including fractional units, if applicable) calculated by dividing the amount of accrued and unpaid
interest, if any, on the Notes, by $25. Such right will be automatically exercised, and the Notes shall be automatically exchanged, without
the consent of the holders of the Notes, into the newly issued series of fully paid Exchange Preferred Units. At such time, all outstanding
Notes shall be deemed to be immediately and automatically surrendered without need for further action by noteholders, who shall thereupon
automatically cease to be holders of Notes and all rights of each such holder as a debtholder of the Issuer and as a beneficiary of the
subordinated guarantees of the Guarantors shall automatically cease.</TD></TR>

<TR STYLE="vertical-align: top">
  <TD>&nbsp;</TD>
  <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.05in; padding-left: 10pt; text-align: justify; text-indent: -10pt; width: 32%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Distribution Stopper Undertaking: </B></FONT></TD>
    <TD STYLE="padding-right: 0.05in; padding-left: 0.05in; text-align: justify; width: 68%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Unless the Issuer has paid all interest that has been deferred or is then payable on the Notes, subject to certain exceptions, neither the Issuer nor the Partnership will (i)&nbsp;declare any distributions or dividends on the Distribution Restricted Securities or pay any interest on any Parity Indebtedness, (ii)&nbsp;redeem, purchase or otherwise retire Distribution Restricted Securities or Parity Indebtedness, or (iii)&nbsp;make any payment to holders of any of the Distribution Restricted Securities or any Parity Indebtedness in respect of distributions or dividends not declared or paid on such Distribution Restricted Securities or interest not paid on such Parity Indebtedness, respectively, <I>provided</I> that the foregoing clauses (i)&nbsp;and (iii)&nbsp;shall not apply in respect of any pro rata dividend or distribution or any other payment on any Parity Indebtedness which is made with a pro rata payment of any accrued and payable interest with respect to the Notes. </FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 0.05in; padding-left: 10pt; text-align: justify; text-indent: -10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 0.05in; padding-left: 10pt; text-align: justify; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>CUSIP/ISIN: </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11276B 208 / US11276B2088 </FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 0.05in; padding-left: 10pt; text-align: justify; text-indent: -10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 0.05in; padding-left: 10pt; text-align: justify; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Expected Ratings*: </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">[Redacted]</P></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 0.05in; padding-left: 10pt; text-align: justify; text-indent: -10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 0.05in; padding-left: 10pt; text-align: justify; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Joint Book-Running Managers:</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Wells Fargo Securities, LLC, BofA Securities,&nbsp;Inc., J.P. Morgan Securities LLC, Morgan Stanley&nbsp;&amp; Co. LLC, RBC Capital Markets, LLC and UBS Securities LLC.</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 0.05in; padding-left: 10pt; text-align: justify; text-indent: -10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 0.05in; padding-left: 10pt; text-align: justify; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Co-Managers: </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Canaccord Genuity LLC</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Santander US Capital Markets LLC</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>*</B></TD><TD STYLE="text-align: justify"><B>Note: A securities rating is not a recommendation to buy, sell or hold securities and may be subject
to review, revision, suspension, reduction or withdrawal at any time by the assigning rating agency.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>**</B></TD><TD STYLE="text-align: justify"><B>It is expected that the delivery of the securities will be made on or about the closing date specified
on the cover page&nbsp;of the prospectus supplement, which will be the second business day following the date of the pricing of the securities
(this settlement cycle being referred to as &ldquo;T+2&rdquo;). Under Rule&nbsp;15c6-1 under the Exchange Act, trades in the secondary
market generally are required to settle in one business day, unless the parties to such trade expressly agree otherwise. Accordingly,
purchasers who wish to trade the securities prior to the delivery date will be required, by virtue of the fact that the securities initially
will settle in T+2, to specify alternate settlement arrangements at the time of any such trade to prevent a failed settlement and should
consult their own advisor.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>The information in this communication supersedes
the information in the Preliminary Prospectus Supplement and the accompanying base prospectus to the extent inconsistent with the information
in the Preliminary Prospectus Supplement and the accompanying base prospectus.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in"><B>The Notes will
not be offered or sold, directly or indirectly, in Canada or to any resident of Canada.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>The Issuer and the Guarantors have filed a
joint registration statement (including a prospectus and a prospectus supplement) with the SEC for the offering to which this communication
relates. Before you invest, you should read the prospectus and prospectus supplement in that registration statement and other documents
the Partnership has filed with the SEC for more complete information about the Issuer, the Guarantors and this offering. You may get these
documents for free by visiting EDGAR on the SEC Web site at www.sec.gov.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Alternatively,
the Issuer and the Guarantors, any underwriter or any dealer participating in the offering will arrange to send you the prospectus and
prospectus supplement if you request it by calling </B></FONT>Wells Fargo Securities, LLC <B>toll-free at</B> 1-800-645-3751<B>, BofA
Securities,&nbsp;Inc. toll-free at 1-800-294-1322, J.P. Morgan Securities LLC toll-free at 1-212-834-4533, Morgan Stanley&nbsp;&amp; Co.
LLC toll-free at 1-866-718-1649, RBC Capital Markets, LLC toll-free at 1-866-375-6829 or UBS Securities LLC toll-free at 1-888-827-7275.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>No key information document (&ldquo;KID&rdquo;)
required by Regulation (EU) No.&nbsp;1286/2014 (as amended, the &ldquo;PRIIPs Regulation&rdquo;) for offering or selling the Notes or
otherwise making them available to retail investors in the European Economic Area (&ldquo;EEA&rdquo;) has been prepared as the Notes will
not be made available to any retail investor in the EEA.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>No KID required by Regulation (EU) No 1286/2014
as it forms part of domestic law of the United Kingdom (&ldquo;UK&rdquo;) by virtue of the European Union (Withdrawal) Act 2018, as amended
(&ldquo;EUWA&rdquo;) (the &ldquo;UK PRIIPs Regulation&rdquo;) for offering or selling the Notes or otherwise making them available to
retail investors in the UK has been prepared as the Notes will not be made available to any retail investor in the UK.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Schedule B&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">List of BIP Entities</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Brookfield Infrastructure Partners L.P.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Brookfield Infrastructure L.P.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Inter Pipeline Ltd.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Triton International Limited&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">BUUK Infrastructure No 1 Limited&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Nova Transportadora do Sudeste S.A.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<DOCUMENT>
<TYPE>EX-4.1
<SEQUENCE>3
<FILENAME>tm2415565d4_ex4-1.htm
<DESCRIPTION>EXHIBIT 4.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><B>Exhibit 4.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">BROOKFIELD INFRASTRUCTURE FINANCE ULC, as Issuer</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">AND EACH OF</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">BROOKFIELD INFRASTRUCTURE PARTNERS L.P.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">AND</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">BROOKFIELD INFRASTRUCTURE L.P.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">AND</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">BIP BERMUDA HOLDINGS I LIMITED</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">AND</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">BROOKFIELD INFRASTRUCTURE HOLDINGS (CANADA) INC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">AND</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">BROOKFIELD INFRASTRUCTURE LLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">AND</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">BIPC HOLDINGS INC., as Guarantors</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">AND</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">COMPUTERSHARE TRUST COMPANY, N.A., as U.S. Trustee</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">AND</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">COMPUTERSHARE TRUST COMPANY OF CANADA, as Canadian
Trustee</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Second Supplemental&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Indenture</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Dated as of May&nbsp;31, 2024</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>THIS
SECOND SUPPLEMENTAL INDENTURE</B></FONT>, dated as of May&nbsp;31, 2024 between Brookfield Infrastructure Finance ULC (the &ldquo;<B>Issuer</B>&rdquo;),
an unlimited liability company organized under the laws of Alberta, Canada, Brookfield Infrastructure Partners L.P. (the &ldquo;<B>Partnership</B>&rdquo;),
an exempted limited partnership organized under the laws of the Islands of Bermuda, Brookfield Infrastructure L.P., an exempted limited
partnership formed under the laws of Bermuda, BIP Bermuda Holdings I Limited, a Bermuda exempted company, Brookfield Infrastructure Holdings
(Canada) Inc. (&ldquo;<B>Can Holdco</B>&rdquo;), a corporation organized under the laws of Ontario, Brookfield Infrastructure LLC, a
Delaware limited liability company (&ldquo;<B>BI LLC</B>&rdquo;), and BIPC Holdings Inc., a corporation organized under the laws of Ontario,
Canada (collectively, the &ldquo;<B>Guarantors</B>&rdquo;), Computershare Trust Company, N.A., a national association formed under the
laws of the State of Delaware, as U.S. trustee (the &ldquo;<B>U.S. Trustee</B>&rdquo;) and Computershare Trust Company of Canada, a trust
company organized under the laws of Canada, as Canadian trustee (the &ldquo;<B>Canadian Trustee</B>&rdquo;, and together with the U.S.
Trustee, the &ldquo;<B>Trustees</B>&rdquo;), to the Indenture, dated as of May&nbsp;24, 2021, by and among the Issuer, the Partnership
and the other guarantors party thereto and the Trustees (the &ldquo;<B>Original Indenture</B>&rdquo;, the Original Indenture, as amended
and supplemented hereby, being referred to herein as the &ldquo;<B>Indenture</B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>WITNESSETH</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>WHEREAS</B></FONT>,
the Issuer has duly authorized, as a separate series of Securities under the Indenture, its 7.250% Subordinated Notes due May&nbsp;31,
2084 (the &ldquo;<B>Notes</B>&rdquo;) and each of the Guarantors has consented to and approved the issuance of the Notes;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>WHEREAS</B></FONT>,
the Issuer and the Guarantors have duly authorized the execution and delivery of this Second Supplemental Indenture to establish the
Notes as a separate series of Securities under the Original Indenture and to provide for, among other things, the issuance by the Issuer
of and the form and terms of the Notes and additional covenants for purposes of the Notes and the Holders thereof;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>WHEREAS</B></FONT>,
the Issuer and the Guarantors understand and agree that Brookfield Infrastructure US Holdings I Corporation, a guarantor under the Original
Indenture, will not be a Guarantor in respect of the Notes, and BI LLC, which was not party to the Original Indenture, will be a Guarantor
in respect of the Notes, and further, none of the Issuer or the Guarantors (other than BI LLC) are in default under the Original Indenture;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>WHEREAS</B></FONT>,
all things necessary to make this Second Supplemental Indenture a valid agreement according to its terms have been done; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>WHEREAS</B></FONT>,
the foregoing recitals are made as statements of fact by the Issuer and the Guarantors and not by the Trustees;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>NOW, THEREFORE, THIS SECOND
SUPPLEMENTAL INDENTURE WITNESSETH:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For and in consideration
of the premises and the purchase of the Notes by the Holders thereof, it is mutually agreed, for the equal and proportionate benefit
of all Holders of the Notes, as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>Article&nbsp;1<BR>
DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>1.1</B></TD><TD><B>Definitions.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For all purposes of this
Second Supplemental Indenture and the Notes, except as otherwise expressly provided or unless the subject matter or context otherwise
requires:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&ldquo;</FONT><B>2081
Notes</B>&rdquo; means the series of 5.000% Subordinated Notes due 2081 issued by the Issuer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&ldquo;<B>Additional
Amounts</B>&rdquo;</FONT> has the meaning specified in Section&nbsp;2.12 of this Second Supplemental Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Automatic Exchange</B>&rdquo;
has the meaning specified in Section&nbsp;2.7 of this Second Supplemental Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Automatic Exchange
Event</B>&rdquo; means an event giving rise to an Automatic Exchange, being the occurrence of any one of the following: (i)&nbsp;the
making by the Issuer of a general assignment for the benefit of its creditors or a proposal (or the filing of a notice of its intention
to do so) under the <I>Bankruptcy and Insolvency Act</I> (Canada); (ii)&nbsp;any proceeding instituted by the Issuer and/or the Partnership
seeking to adjudicate them as bankrupt (including any voluntary assignment in bankruptcy) or insolvent or, where the Issuer and/or the
Partnership are insolvent, seeking liquidation, winding up, dissolution, reorganization, arrangement, compromise, adjustment, protection,
relief or composition of their debts under any law relating to bankruptcy or insolvency in Canada or Bermuda (as applicable), or seeking
the entry of an order for the appointment of a receiver, interim receiver, trustee or other similar official for the Issuer and/or the
Partnership or in respect of all or any substantial part of their property and assets in circumstances where the Issuer and/or the Partnership
are adjudged as bankrupt (including any voluntary assignment in bankruptcy) or insolvent; (iii)&nbsp;a receiver, interim receiver, trustee
or other similar official is appointed over the Issuer and/or the Partnership or for all or substantially all of their property and assets
by a court of competent jurisdiction in circumstances where the Issuer and/or the Partnership are adjudged as bankrupt (including any
voluntary assignment in bankruptcy) or insolvent under any law relating to bankruptcy or insolvency in Canada or Bermuda (as applicable);
or (iv)&nbsp;any proceeding is instituted against the Issuer and/or the Partnership seeking to adjudicate them as bankrupt (including
any voluntary assignment in bankruptcy) or insolvent, or where the Issuer and/or the Partnership are insolvent, seeking liquidation,
winding up, dissolution, reorganization, arrangement, compromise, adjustment, protection, relief or composition of their debts under
any law relating to bankruptcy or insolvency in Canada or Bermuda (as applicable), or seeking the entry of an order for the appointment
of a receiver, interim receiver, trustee or other similar official for the Issuer and/or the Partnership or in respect of all or any
substantial part of their property and assets in circumstances where the Issuer and/or the Partnership are adjudged as bankrupt or insolvent
under any law relating to bankruptcy or insolvency in Canada or Bermuda (as applicable), and in any such case, such proceeding has not
been stayed or dismissed within 60 days of the institution of any such proceeding or the actions sought in such proceedings occur (including
the entry of an order for relief against the Issuer and/or the Partnership or the appointment of a receiver, interim receiver, trustee,
or other similar official for them or for all or substantially all of their property and assets).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Automatic Exchange
Event Notice</B>&rdquo;<B>&nbsp;</B>has the meaning specified in Section&nbsp;2.7.2 of this Second Supplemental Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>BI LLC</B>&rdquo;
has the meaning ascribed to it in the recitals.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>BIPIC</B>&rdquo;
means BIP Investment Corporation, a corporation established under the <I>Business Corporations Act</I> (British Columbia) and a subsidiary
of Can Holdco.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Can Holdco</B>&rdquo;
has the meaning ascribed to it in the recitals.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Clearing Agency</B>&rdquo;
has the meaning specified in Section&nbsp;2.7.3 of this Second Supplemental Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Deferral Period</B>&rdquo;
has the meaning specified in Section&nbsp;2.8 of this Second Supplemental Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Distribution Restricted
Securities</B>&rdquo; means the partnership units of the Partnership and all equity issued by the Issuer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Exchange Notice</B>&rdquo;
has the meaning specified in Section&nbsp;2.7.2 of this Second Supplemental Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&ldquo;<B>Exchange
Preferred Units</B>&rdquo; shall mean </FONT>Class&nbsp;A Preferred Limited Partnership Units of the Partnership, being Class&nbsp;A
Limited Partnership Units, Series&nbsp;16, issued pursuant to that certain Sixth Amendment to the Amended and Restated Limited Partnership
Agreement of the Partnership, dated as of the date hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Exchange Time</B>&rdquo;
has the meaning specified in Section&nbsp;2.7.1 of this Second Supplemental Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>FATCA</B>&rdquo;
has the meaning specified in Section&nbsp;2.12 of this Second Supplemental Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&ldquo;<B>Guarantee
Obligations</B></FONT>&rdquo; means the subordinate guarantee obligations of the Guarantors pursuant to Article&nbsp;5 of the Original
Indenture but solely in respect of the Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Guarantor Senior
Indebtedness</B>&rdquo; means, in respect of any Guarantor, all principal, interest, premium, fees and other amounts owing on, under
or in respect&nbsp;of:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">all indebtedness, liabilities and obligations
                                            of such Guarantor, whether outstanding on the Issue Date or thereafter created, incurred,
                                            assumed or guaranteed;&nbsp;and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">all renewals, extensions, restructurings,
                                            refinancings and refundings of any such indebtedness, liabilities or obligations;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">except that Guarantor Senior
Indebtedness shall not include (i)&nbsp;the obligations of such Guarantor in respect of its guarantee of the Notes, the 2081 Notes and
the Perpetual Notes, (ii)&nbsp;the liabilities and obligations of such Guarantor in respect of any equity (including any preferred equity)
that has been issued by the Issuer, any Guarantor or BIPIC, and (iii)&nbsp;all indebtedness, liabilities and obligations of such Guarantor
that, pursuant to the terms of an instrument creating or evidencing such indebtedness, liabilities or obligations, are stated to rank
<I>pari passu</I> with or subordinate in right of payment to its guarantee of the Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Ineligible Person</B>&rdquo;
means any Person whose address is in, or whom the Partnership or its transfer agent has reason to believe is a resident of, any jurisdiction
outside of the United States to the extent that: (i)&nbsp;the issuance or delivery by the Partnership to such Person, upon an Automatic
Exchange for Exchange Preferred Units, would require the Partnership to take any action to comply with securities or analogous laws of
such jurisdiction; or (ii)&nbsp;withholding tax would be applicable in connection with the delivery to such Person of Exchange Preferred
Units upon an Automatic Exchange.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Issue Date</B>&rdquo;
mean May&nbsp;31, 2024.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Issuer Senior Indebtedness</B>&rdquo;
means all principal, interest, premium, fees and other amounts owing on, under or in respect&nbsp;of:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">all indebtedness, liabilities and obligations
                                            of the Issuer, whether outstanding on the Issue Date or thereafter created, incurred, assumed
                                            or guaranteed;&nbsp;and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">all renewals, extensions, restructurings,
                                            refinancings and refundings of any such indebtedness, liabilities or&nbsp;obligations;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">except that Issuer Senior Indebtedness shall
not include (i)&nbsp;the obligations of the Issuer in respect of the Notes, the 2081 Notes and the Issuer&rsquo;s guarantee obligations
in respect of the Perpetual Notes, (ii)&nbsp;all liabilities and obligations of the Issuer in respect of any equity (including any preferred
equity) that has been issued by the Issuer, any Guarantor or BIPIC, and (iii)&nbsp;all indebtedness, liabilities and obligations of the
Issuer that, pursuant to the terms of the instrument creating or evidencing such indebtedness, liabilities or obligations, are stated
to rank <I>pari passu</I> with or subordinate in right of payment to the Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&ldquo;<B>Maturity
Date</B>&rdquo; means May&nbsp;31, </FONT>2084.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Notes</B>&rdquo;
has the meaning ascribed to it in the recitals.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Original Indenture</B>&rdquo;
has the meaning ascribed to such term in the first recital to this Second Supplemental Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Parity Indebtedness</B>&rdquo;
means the 2081 Notes, the Issuer and Partnership&rsquo;s guarantee obligations in respect of the Perpertual Notes and any other class
or series of the Partnership&rsquo;s indebtedness currently outstanding or hereafter created which ranks on a parity with the Partnership&rsquo;s
guarantee of the Notes (prior to any Automatic Exchange) as to distributions upon liquidation, dissolution or winding-up.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Partnership Preferred
Units</B>&rdquo; means preferred limited partnership units in the Partnership, including the Partnership&rsquo;s Class&nbsp;A Preferred
Limited Partnership Units (which will include the Exchange Preferred Units if issued).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&ldquo;</FONT><B>Perpetual
Notes</B>&rdquo; means the series of 5.125% Perpetual Subordinated Notes issued by BIP Bermuda Holdings I Limited.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Rating Agency</B>&rdquo;
means any nationally recognized statistical rating organization (within the meaning of Section&nbsp;3(a)(62) of the Securities Exchange
Act of 1934, as amended) that publishes a rating for the Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&ldquo;</FONT><B>Rating
Event</B>&rdquo; means the occurrence of an event in which any Rating Agency, following the initial rating of the Notes by such Rating
Agency, amends, clarifies or changes the criteria it uses to assign equity credit to securities such as the Notes, which amendment, clarification
or change results in (a)&nbsp;the shortening of the length of time the Notes are assigned a particular level of equity credit by that
Rating Agency as compared to the length of time the Notes would have been assigned that level of equity credit by that Rating Agency
or its predecessor on the initial rating of the Notes by such Rating Agency; or (b)&nbsp;the lowering of the equity credit (including
up to a lesser amount) assigned to the Notes by that Rating Agency compared to the equity credit assigned by that Rating Agency or its
predecessor on the initial rating of the Notes by such Rating Agency.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Relevant Taxing
Jurisdiction</B>&rdquo; has the meaning specified in Section&nbsp;2.12 of this Second Supplemental Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Tax Act</B>&rdquo;
has the meaning specified in Section&nbsp;2.12 of this Second Supplemental Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Tax Event</B>&rdquo;
means the Issuer or any Guarantor (as applicable) has received an opinion of counsel of nationally recognized standing experienced in
such matters to the effect that, as a result of (i)&nbsp;any amendment or change to the laws (or any regulations or rulings thereunder)
of any Relevant Taxing Jurisdiction or any applicable tax treaty or (ii)&nbsp;any change in the application, administration or interpretation
of such laws, regulations, rulings or treaties (including any judicial decision rendered by a court of competent jurisdiction with respect
to such laws, regulations, rulings or treaties), in each case of (i)&nbsp;and (ii), by any legislative body, court, governmental authority
or agency, regulatory body or taxing authority, which amendment or change is effective on or after the Issue Date (or if the Relevant
Taxing Jurisdiction has changed since the Issue Date, the date on which the applicable jurisdiction became a Relevant Taxing Jurisdiction)
(including, for the avoidance of doubt, any such amendment or change made on or after the Issue Date (or the date on which the applicable
jurisdiction became a Relevant Taxing Jurisdiction, as applicable) that has retroactive effect to a date prior to the Issue Date (or
the date on which the applicable jurisdiction became a Relevant Taxing Jurisdiction, as applicable)), either: (a)&nbsp;the Issuer or
any Guarantor (as applicable) is, or may be, subject to more than a <I>de minimis</I> amount of additional taxes, duties or other governmental
charges or civil liabilities because the treatment of any of its items of income, taxable income, expense, taxable capital or taxable
paid-up capital with respect to the Notes, as or as would be reflected in any tax return or form filed, to be filed, or that otherwise
could have been filed, will not be respected by a taxing authority (excluding as a result of any limitation on the deductibility of interest
on the Notes as a result of any EBITDA, tax EBITDA, or other similar earnings or income-based limit on interest deductibility) or (b)&nbsp;the
Issuer or any Guarantor (as applicable) has been or will be on the next Interest Payment Date obligated to pay Additional Amounts and
neither the Issuer or Guarantor (as applicable) can avoid such obligation by taking commercially reasonable measures to avoid it.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Taxes</B>&rdquo;
has the meaning specified in Section&nbsp;2.12 of this Second Supplemental Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">All other terms and expressions
used herein shall have the same meanings as corresponding expressions defined in the Original Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>1.2</B></TD><TD><B>To Be Read with Original Indenture</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Second Supplemental Indenture
is a supplemental indenture within the meaning of the Original Indenture, and the Original Indenture and this Second Supplemental Indenture
shall be read together and shall have effect, so far as practicable, as though all the provisions of the Original Indenture and this
Second Supplemental Indenture were contained in one instrument.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>1.3</B></TD><TD><B>Amendments to the Original Indenture</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following definition
in Article&nbsp;1.1 of the Original Indenture, as such definition relates to the Notes, is hereby amended to read in its entirety as
follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&ldquo;<B>Guarantor</B>&rdquo;
means (i)&nbsp;the Partnership, (ii)&nbsp;BILP, (iii)&nbsp;Bermuda Holdco, (iv)&nbsp;Can Holdco, (v)&nbsp;BI LLC, (vi)&nbsp;BIPC Holdings,
and (vii)&nbsp;any other Person that provides a guarantee under Article&nbsp;5 of this Indenture in respect of one or more series of
Securities, as evidenced by one or more indentures supplemental hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The first paragraph in Article&nbsp;11.4
of the Original Indenture is hereby amended to read in its entirety as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">So long as any
of the Securities are Outstanding, each of the Issuer and the Partnership shall deliver to the Trustees, within 120 days after the end
of each fiscal year of the Issuer and the Partnership, a brief certificate from its principal executive, financial or accounting officer
as to his or her knowledge of the compliance of the Issuer and the Guarantors with all conditions and covenants under this Indenture
(such compliance to be determined without regard to any period of grace or requirement of notice provided under this Indenture) which
certificate shall comply with the requirements of TIA &sect; 314(a)(4).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>1.4</B></TD><TD><B>Currency</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Except where expressly provided,
all amounts in this Second Supplemental Indenture are stated in United States currency.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>Article&nbsp;2<BR>
THE NOTES</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>2.1</B></TD><TD><B>Designation</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">There is hereby authorized
to be issued under the Original Indenture a separate series of Securities designated as &ldquo;7.250% Subordinated Notes due May&nbsp;31,
2084&rdquo;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>2.2</B></TD><TD><B>Limit of Aggregate Principal Amount</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The aggregate principal amount
of Notes that may be authenticated and delivered pursuant to the Second Supplemental Indenture (except for Notes authenticated and delivered
upon registration of transfer of, or in exchange for, or in lieu of, other Notes pursuant to Section&nbsp;3.4, 3.5, 3.6, 10.6 or 12.7
of the Original Indenture and except for any Notes which, pursuant to the last sentence of Section&nbsp;3.3 of the Original Indenture,
are deemed never to have been authenticated and delivered) shall initially be limited to $172,500,000, of which $150,000,000 principal
amount has been issued hereunder as of the date hereof. The Issuer may from time to time, without the consent of the Holders of the Notes
but with the consent of the Guarantors, create and issue further notes having the same terms and conditions in all respects as the Notes
being offered hereby except for the issue date, the issue price and the first payment of interest thereon.&nbsp; Additional notes issued
in this manner will be consolidated with and will form a single series with the Notes, as the case may be, being offered hereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>2.3</B></TD><TD><B>Date of Payment of Principal</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The principal of the Notes
shall be payable on May&nbsp;31, 2084.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>2.4</B></TD><TD><B>Payments; Registration of Transfers</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">All payments in respect of
the Notes shall be made in immediately available funds.&nbsp; The Issuer hereby appoints the U.S. Trustee to act as the initial Paying
Agent for the Notes. The &ldquo;<B>Place of Payment</B>&rdquo; for the Notes shall be at the address of the Paying Agent, currently located
at 1505 Energy Park Drive, St. Paul, Minnesota 55108.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For such Notes (if any) as
are not represented by a Global Security, payments of principal (and premium, if any) and interest on any Notes will be made at the Place
of Payment, except that, at the option and expense of the Issuer, payment of interest may be made by (a)&nbsp;cheque mailed to the address
of the Person entitled thereto as such address shall appear on the Security Register or (b)&nbsp;wire transfer to an account maintained
by the Person entitled thereto as specified in the Security Register.&nbsp; The registration of transfers and exchanges of Notes will
be made at the Corporate Trust Office of the U.S. Trustee currently located at 1505 Energy Park Drive, St. Paul, Minnesota 55108 and
the Place of Payment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>2.5</B></TD><TD><B>Interest</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">The Notes will be issued in initial denominations
                                            of $25.00 and multiples of $25.00 in excess thereof and shall bear interest at the rate of
                                            7.250% per annum, payable quarterly in arrears, subject to deferral as set forth in Section&nbsp;2.8.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">Interest in respect of the Notes shall
                                            accrue from and including the Issue Date or from and including the most recent Interest Payment
                                            Date to which interest has been paid or duly provided for.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">The Interest Payment Dates on which interest
                                            shall be payable in respect of the Notes shall be March&nbsp;31, June&nbsp;30, September&nbsp;30
                                            and December&nbsp;31 in each year, commencing on September&nbsp;30, 2024.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">The Regular Record Dates for interest
                                            in respect of the Notes shall be March&nbsp;16, June&nbsp;15, September&nbsp;15 and December&nbsp;16
                                            (whether or not a Business Day) in respect of the interest payable quarterly in arrears on
                                            March&nbsp;31, June&nbsp;30, September&nbsp;30 and December&nbsp;31, respectively.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>2.6</B></TD><TD><B>Redemption and Purchase for Cancellation of the Notes</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Except as provided in this
Section&nbsp;2.6 of this Second Supplemental Indenture, the Notes are not redeemable prior to maturity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.6.1</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Redemption
of Notes at the Option of the Issuer</U>. On or after May&nbsp;31, 2029, the Issuer may, at its option, on giving not more than 60 days&rsquo;
nor less than 10 days&rsquo; prior notice to the Holders thereof, redeem the Notes in whole at any time or in part from time to time
without the consent of the Holders, at a Redemption Price equal to 100% of the principal amount thereof, plus an amount equal to all
accrued and unpaid interest to, but excluding, the Redemption Date.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.6.2</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Early
Redemption upon a Tax Event</U>. At any time, after the occurrence of a Tax Event, subject to applicable laws, the Issuer may, at its
option, on giving not more than 60 days&rsquo; nor less than 10 days&rsquo; prior notice to the Holders thereof, redeem the Notes (in
whole but not in part) without the consent of the Holders. The Redemption Price shall be equal to 100% of the principal amount thereof
and shall be paid together with accrued and unpaid interest to, but excluding, the Redemption Date.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.6.3</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Early
Redemption upon a Rating Event</U>. At any time, following the occurrence of a Rating Event, the Issuer may, at its option, on giving
not more than 60 days&rsquo; nor less than 10 days&rsquo; prior notice to the Holders thereof, redeem the Notes (in whole but not in
part) without the consent of the Holders. The Redemption Price shall be equal to 102% of the principal amount thereof and shall be paid
together with accrued and unpaid interest to, but excluding, the Redemption Date.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.6.4</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Notice
of Redemption</U>. Notwithstanding the first paragraph of Section&nbsp;12.4 of the Original Indenture, notice of any redemption will
be delivered at least 10 days but not more than 60 days before the Redemption Date to each Holder of the Notes to be redeemed. All notices
of redemption shall state the information required by Section&nbsp;12.4 of the Original Indenture. On and after any Redemption Date,
interest will cease to accrue on the Notes or any portion thereof called for redemption. On or before any Redemption Date, the Issuer
shall deposit with the Paying Agent (or the U.S. Trustee) money sufficient to pay the Redemption Price of the Notes to be redeemed on
such date. If less than all the Notes are to be redeemed, the Notes to be redeemed shall be selected by the U.S. Trustee at the Issuer&rsquo;s
direction by such method as the Issuer and the U.S. Trustee shall designate.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>2.7</B></TD><TD><B>Automatic Exchange</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.7.1</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Automatic
Exchange</U>. Upon the occurrence of an Automatic Exchange Event (such time, the &ldquo;<B>Exchange Time</B>&rdquo;), the Notes, including
accrued and unpaid interest thereon, will be exchanged automatically (the&nbsp;&ldquo;<B>Automatic Exchange</B>&rdquo;), without the
consent of the Holders thereof, into Exchange Preferred Units. As of the Exchange Time, Holders will have the right to receive one Exchange
Preferred Unit for each $25.00 principal amount of Notes held together with the number of Exchange Preferred Units (including fractional
units, if applicable) calculated by dividing the amount of accrued and unpaid interest, if any, on the Notes, by $25.00. Such right will
be automatically exercised, and the Notes shall be automatically exchanged, without the consent of the Holders of the Notes, into Exchange
Preferred Units in accordance with such exchange procedures as shall be reasonably determined by the Issuer in consultation with the
U.S. Trustee. At such time, all outstanding Notes shall be deemed to be immediately and automatically surrendered without need for further
action by the Holders of the Notes, who shall thereupon automatically cease to be Holders thereof and all rights of each such Holder
as a debtholder of the Issuer and as a beneficiary of the subordinated guarantees of the Guarantors shall automatically cease.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.7.2</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Automatic
Exchange Event Notice</U>. The Issuer shall deliver to the U.S. Trustee a written notice of the occurrence of an Automatic Exchange (the
 &ldquo;<B>Automatic Exchange Event Notice</B>&rdquo;) within 10 days after the occurrence of such event, which Automatic Exchange Event
Notice shall be signed by any director or officer (or equivalent) of the Issuer and shall be binding on the Holders of the Notes. As
soon as practicable following receipt by the U.S. Trustee from the Issuer of an Automatic Exchange Event Notice, the U.S. Trustee shall
deliver notice to the Holders of Notes of the occurrence of the Automatic Exchange; <I>provided, however</I>, that a failure to make
such delivery shall not affect, reduce or modify in any way the effectiveness of the Automatic Exchange with effect as of the Exchange
Time.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Following the occurrence of an Automatic
Exchange, the Issuer shall, as soon as reasonably practicable, inform the Guarantors and the U.S. Trustee by notice in writing (the &ldquo;<B>Exchange
Notice</B>&rdquo;) as to the number of Notes exchanged and transferred hereby. Such Exchange Notice shall specify the number of Exchange
Preferred Units (including fractional units, if applicable) required in connection with the Automatic Exchange in accordance with this
Indenture and shall specify whether, to the knowledge of the Issuer, such Holders of Notes (or Persons beneficially owning Notes represented
by the Holders of such Notes) are Ineligible Persons.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.7.3</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Right
Not to Deliver the Exchange Preferred Units</U>. Upon an Automatic Exchange of the Notes, the Partnership reserves the right not to issue
some or all of the Exchange Preferred Units to Ineligible Persons. In such circumstances, the Partnership will hold all Exchange Preferred
Units that would otherwise be delivered to Ineligible Persons, as agent for such Ineligible Persons, and will attempt to facilitate the
sale of such units through a registered broker or dealer retained by the Partnership for the purpose of effecting the sale (to&nbsp;parties
other than the Partnership, its Affiliates or other Ineligible Persons) on behalf of such Ineligible Persons of such Exchange Preferred
Units. Such sales, if any, may be made at any time and any price. The Partnership will not be subject to any liability for failing to
sell Exchange Preferred Units on behalf of any such Ineligible Persons or at any particular price on any particular day. The net proceeds
received by the Partnership from the sale of any such Exchange Preferred Units will be divided among the Ineligible Persons in proportion
to the number of Exchange Preferred Units that would otherwise have been delivered to them, after deducting the costs of sale and any
applicable Taxes or withholding on account of Taxes, if any. The Partnership will pay the aggregate net proceeds that it receives for
such Exchange Preferred Units to The Depository Trust Company (the&nbsp;&ldquo;<B>Clearing Agency</B>&rdquo;) (if&nbsp;the Notes are
then held in the book-entry only system) or to the trustee, registrar and/or transfer agent, as applicable (in&nbsp;all other cases)
for distribution to such Ineligible Persons in accordance with the applicable procedures of the Clearing Agency or&nbsp;otherwise.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">As a precondition to the delivery of
any certificate or other evidence of issuance representing any Exchange Preferred Units or related rights following an Automatic Exchange,
the Partnership may require a Holder of Notes (and&nbsp;Persons holding Notes represented by such Holder of Notes) to deliver a declaration,
in form and substance satisfactory to the Partnership, confirming compliance with any applicable regulatory requirements to establish
that such Holder of Notes is not, and does not represent, an Ineligible Person. The U.S. Trustee and the Partnership shall be entitled
to rely exclusively on the declarations of the Holders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>2.8</B></TD><TD><B>Deferral Right</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">So long as no Event of Default
has occurred and is continuing, the Issuer may elect, at its sole option, at any date other than an Interest Payment Date, to defer the
interest payable on the Notes on one or more occasions for up to five consecutive years (a&nbsp;&ldquo;<B>Deferral Period</B>&rdquo;).
Any such deferral will not constitute an Event of Default or any other breach under the Indenture and the Notes. Deferred interest will
accrue until paid. A Deferral Period terminates on any Interest Payment Date on which the Issuer pays all accrued and unpaid interest
on such date. No Deferral Period may extend beyond the date of Maturity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Issuer will give the
Holders of the Notes written notice of its election to commence or continue a Deferral Period at least 10 days and not more than 60&nbsp;days
before the next Interest Payment&nbsp;Date. After the commencement of a Deferral Period, the Issuer will give the Holders of the Notes
written notice of its election to continue or terminate, as applicable, such Deferral Period, at least 10 days and not more than 60 days
before each subsequent Interest Payment Date until the termination of such Deferral Period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">There shall be no limit on
the number of Deferral Periods that may occur pursuant to this Section&nbsp;2.8.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>2.9</B></TD><TD><B>Form</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Notes and the certificate
of the U.S Trustee endorsed thereon shall each be issuable initially as one or more Global Securities in minimum denominations of $25.00
and integral multiples of $25.00 in excess thereof and shall be substantially in the form set forth in Annex A hereto. The Depositary
for Global Securities shall be The Depository Trust Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>2.10</B></TD><TD><B>Events of Default</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Events of Default contained
in the Original Indenture shall not apply to the Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Solely with respect to the
Notes (and not with respect to any other Securities issued or outstanding under the Indenture), for so long as any of the Notes remain
outstanding, &ldquo;Event of Default&rdquo; for purposes of the Indenture and the Notes will mean any one of the following events:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">default in the payment of any interest
                                            (including Additional Amounts thereon) when due and payable on the Notes, and continuance
                                            of such default for a period of 30 days (subject to the Issuer&rsquo;s right, at its sole
                                            option, to defer interest payments as provided in Section&nbsp;2.8 of this Second Supplemental
                                            Indenture); or</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">default in the payment of the principal
                                            of or any premium or Additional Amounts thereon, if any, when due and payable on the Notes.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>2.11</B></TD><TD><B>Additional Covenants</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In the event that any Successor
of the Issuer or a Guarantor is formed or organized outside of the United States, Canada or Bermuda, the applicable supplemental indenture
in respect of such Successor shall include (i)&nbsp;a provision for the payment of Additional Amounts in the form substantially similar
to that described in Section&nbsp;2.12, with such modifications (including to the definition of &ldquo;Relevant Taxing Jurisdiction&rdquo;)
as the Issuer, the Guarantors and such Successor reasonably determine are customary and appropriate for U.S. bondholders to address then-applicable
(or potentially applicable future) taxes, duties, levies, imposts, assessments or other governmental charges imposed or levied by or
on behalf of the applicable governmental authority in respect of payments made by such Successor under or with respect to the Notes,
including any exceptions thereto as the Issuer, the Guarantors and such Successor shall reasonably determine would be customary and appropriate
for U.S. bondholders and (ii)&nbsp;the right of the Issuer to redeem the Notes at 100% of the aggregate principal amount thereof plus
accrued interest thereon in the event that Additional Amounts become payable by such Successor in respect of the Notes as a result of
any change in law or official position regarding the application or interpretation of any law that is announced or becomes effective
after the date of such supplemental indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The covenants contained in
Article&nbsp;3 of this Second Supplemental Indenture shall apply to the Notes in addition to the covenants contained in the Original
Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>2.12</B></TD><TD><B>Payment of Additional Amounts</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">All payments made by the
Issuer or any Guarantor under or with respect to the Notes will be made free and clear of, and without withholding or deduction for or
on account of, any present or future tax, duty, levy, impost, assessment or other governmental charge (hereinafter, &ldquo;<B>Taxes</B>&rdquo;)
imposed or levied by or on behalf of the government of Canada, Bermuda or of any province, territory or jurisdiction thereof or therein
or by any authority or agency therein or thereof having power to tax (a &ldquo;<B>Relevant Taxing Jurisdiction</B>&rdquo;), unless the
Issuer or any Guarantor (as&nbsp;applicable) is required to withhold or deduct Taxes by law or by the interpretation or administration
thereof. If the Issuer or any Guarantor is so required to withhold or deduct any amount for or on account of Taxes from any payment made
by it under or with respect to the Notes, the Issuer or such Guarantor (as&nbsp;applicable) will pay such additional amounts (hereinafter
 &ldquo;<B>Additional Amounts</B>&rdquo;) in respect of each such payment (excluding one payment of quarterly interest, other than deferred
interest, in connection with a redemption of the Notes in accordance with the provisions described under Section&nbsp;2.6.2 of this Second
Supplemental Indenture) as may be necessary so that the net amount received (including Additional Amounts) by each Holder (including,
as applicable, the beneficial owners in respect of any such Holder) after such withholding or deduction will not be less than the amount
the Holder (including, as applicable, the beneficial owners in respect of any such Holder) would have received if such Taxes had not
been withheld or deducted; provided that no Additional Amounts will be payable with respect to: (a)&nbsp;any payment to a Holder or beneficial
owner who is liable for such Taxes in respect of such Note&nbsp;(i)&nbsp;by reason of such Holder or beneficial owner, or any other Person
entitled to payments on the Note, being a Person with whom the Issuer or a Guarantor does not deal at arm&rsquo;s length (within the
meaning of the Income Tax&nbsp;Act (Canada) (the&nbsp;&ldquo;<B>Tax&nbsp;Act</B>&rdquo;)), (ii)&nbsp;by reason of the existence of any
present or former connection between such Holder or beneficial owner (or&nbsp;between a fiduciary, settlor, beneficiary, member or shareholder
of, or possessor of power over, such Holder or beneficial owner, if such Holder or beneficial owner is an estate, trust, partnership,
limited liability company or corporation) and the Relevant Taxing Jurisdiction other than the mere ownership, or receiving payments under
or enforcing any rights in respect of such Note, (iii)&nbsp;by reason of such Holder or beneficial owner being a &ldquo;specified shareholder&rdquo;
of the Issuer or not dealing at arm&rsquo;s length with a &ldquo;specified shareholder&rdquo; of the Issuer as defined in subsection&nbsp;18(5)&nbsp;of
the Tax&nbsp;Act, or (iv)&nbsp;by reason of such holder or beneficial owner being a &ldquo;specified entity&rdquo; in respect of the
Issuer or any Guarantor as defined in proposals to amend the Tax Act with respect to &ldquo;hybrid mismatch arrangements&rdquo; contained
in Bill C-59 tabled in Parliament on November&nbsp;30, 2023; (b)&nbsp;any Tax that is levied or collected other than by withholding from
payments on or in respect of the Notes; (c)&nbsp;any Note presented for payment (where presentation is required) more than 30&nbsp;days
after the later of (i)&nbsp;the date on which such payment first becomes due or (ii)&nbsp;if the full amount of the monies payable has
not been paid to the Holders of the Notes on or prior to such date, the date on which the full amount of such monies has been paid to
the Holders of the Notes, except to the extent that the Holder or beneficial owner of the Notes would have been entitled to such Additional
Amounts on presentation of the same for payment on the last day of such period of 30&nbsp;days; (d)&nbsp;any estate, inheritance, gift,
sales, transfer, excise or personal property tax or any similar Tax; (e)&nbsp;any Tax imposed to the extent resulting from the failure
of a Holder or beneficial owner to comply with certification, identification, declaration, filing or similar reporting requirements concerning
the nationality, residence, identity or connection with the Relevant Taxing Jurisdiction of such Holder or beneficial owner, if such
compliance is required by statute or by regulation, as a precondition to reduction of, or exemption, from such Tax; (f)&nbsp;any (i)&nbsp;withholding
or deduction imposed pursuant to Sections&nbsp;1471 to&nbsp;1474 of the U.S.&nbsp;Internal Revenue Code of 1986, as amended (&ldquo;<B>FATCA</B>&rdquo;),
or any successor version thereof, or any similar legislation imposed by any other governmental authority, or (ii)&nbsp;Tax or penalty
arising from the Holder&rsquo;s or beneficial owner&rsquo;s failure to properly comply with the Holder&rsquo;s or beneficial owner&rsquo;s
obligations imposed under the Canada-United&nbsp;States Enhanced Tax Information Exchange Agreement Implementation Act (Canada) or any
treaty, law or regulation or other official guidance enacted by Canada implementing FATCA or an intergovernmental agreement with respect
to FATCA or any similar legislation imposed by any other governmental authority, including, for greater certainty, Part&nbsp;XVIII and
Part&nbsp;XIX of the Tax&nbsp;Act; or (g)&nbsp;any combination of the foregoing clauses&nbsp;(a)&nbsp;to&nbsp;(f).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Issuer or any Guarantor
(as&nbsp;applicable) will also (1)&nbsp;make such withholding or deduction and (2)&nbsp;remit the full amount deducted or withheld by
it to the relevant authority in accordance with applicable law. The Issuer or any Guarantor (as&nbsp;applicable) will furnish to the
Holders of the Notes, within 30&nbsp;days after the date the payment of any Taxes by it is due pursuant to applicable law, certified
copies of tax receipts evidencing such payment by it. The Issuer and the Guarantors will indemnify and hold harmless each Holder (including,
as applicable, the beneficial owners in respect of any such Holder) and, upon written request, will reimburse each such Holder (including,
as applicable, the beneficial owners in respect of any such Holder) for the amount of (i)&nbsp;any Taxes (other than any Taxes for which
Additional Amounts would not be payable pursuant to clauses&nbsp;(a)&nbsp;through&nbsp;(g)&nbsp;above) levied or imposed and paid by
such Holder (including, as applicable, the beneficial owners in respect of any such Holder) as a result of payments made under or with
respect to the Notes which have not been withheld or deducted and remitted by the Issuer or any Guarantor (as&nbsp;applicable) in accordance
with applicable law, (ii)&nbsp;any liability (including penalties, interest and expenses) arising therefrom or with respect thereto,
and (iii)&nbsp;any Taxes (other than any Taxes for which Additional Amounts would not be payable pursuant to clauses&nbsp;(a)&nbsp;through&nbsp;(g)&nbsp;above)
imposed with respect to any reimbursement under clause&nbsp;(i)&nbsp;or&nbsp;(ii)&nbsp;above in this paragraph, but excluding any such
Taxes on such Holder&rsquo;s (including, as applicable, the beneficial owners in respect of any such Holder&rsquo;s) net&nbsp;income.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Whenever in the Indenture
there is mentioned, in any context, the payment of principal (and premium, if any), redemption amount, purchase price, interest or any
other amount payable under or with respect to any Note, such mention shall be deemed to include mention of the payment of Additional
Amounts to the extent that, in such context, Additional Amounts are, were or would be payable in respect thereof (and express mention
of the payment of Additional Amounts (if applicable) in any provisions hereof shall not be construed as excluding Additional Amounts
in those provisions hereof where such express mention is not made (if applicable)).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The obligations of the Issuer
and the Guarantors under this Section&nbsp;2.12 shall survive the termination of this Indenture and the payment of all amounts under
or with respect to the Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>2.13</B></TD><TD><B>Defeasance</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Notes shall be defeasible
pursuant to both of Section&nbsp;14.2 and Section&nbsp;14.3 of the Original Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In the event the Issuer exercises
its defeasance option with respect to the Notes pursuant to Section&nbsp;14.2 of the Original Indenture, the Issuer&rsquo;s and the Guarantors&rsquo;
obligations with respect to the Notes under Section&nbsp;2.12 of this Second Supplemental Indenture shall survive.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>2.14</B></TD><TD><B>Subordination of the Notes</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.14.1</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Notes
Subordinate</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">The Issuer covenants
and agrees, and each Holder of Notes, by the acceptance thereof, covenants and agrees, that the Notes will be direct unsecured subordinated
obligations of the Issuer. The obligations of the Issuer under the Notes are hereby subordinated in right of payment to all present and
future Issuer Senior Indebtedness. The payment of all principal, premium (if any), interest and Additional Amounts on the Notes shall
rank senior to all obligations of the Issuer in respect of its own equity and in respect of equity (including preferred equity) that
has been issued by any Guarantor or BIPIC (including pursuant to any guarantee by the Issuer of the existing equity obligations of any
such other Person), and will rank <I>pari passu</I> with the 2081 Notes and the Issuer&rsquo;s guarantee obligations in respect of the
Perpetual Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">The Notes and the
obligations of the Issuer under the Indenture will be fully and unconditionally guaranteed by each Guarantor pursuant to the Indenture,
on a subordinated and joint and several basis, as to payment of principal, premium, interest and Additional Amounts (if any) and all
other Obligations payable by the Issuer in respect of the Notes. All Guarantee Obligations are hereby subordinated in right of payment
to all present and future Guarantor Senior Indebtedness. The Guarantee Obligations of each Guarantor shall rank senior to all obligations
of such Guarantor in respect of its own equity and in respect of equity (including preferred equity) that has been issued by the Issuer,
any other Guarantor or BIPIC (including pursuant to any guarantee by such Guarantor of the existing equity obligations of any such Person).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">In the event that,
notwithstanding the foregoing, any payment or distribution of any character, whether in cash, securities, or other property, shall be
received by any Trustee or any Holder in contravention of the subordination provisions set out in this Second Supplemental Indenture,
such payment or distribution shall be received in trust for the benefit of, and shall be paid over or delivered and transferred to, the
holders of the Issuer Senior Indebtedness or Guarantor Senior Indebtedness, as applicable, at the time outstanding in accordance with
the priorities then existing among such holders for application to the payment of Issuer Senior Indebtedness or Guarantor Senior Indebtedness,
as applicable. In the event of the failure of the Trustees or any Holder to endorse or assign any such payment, distribution, or any
security or property related thereto, each holder of Issuer Senior Indebtedness or Guarantor Senior Indebtedness, as applicable, is irrevocably
authorized to endorse or assign the same.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">The provisions
of this Section&nbsp;2.14.1 shall not impair any rights, interests, remedies, or powers of any holder of any Issuer Senior Indebtedness
or any Guarantor Senior Indebtedness.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.14.2</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>No
Payment When Issuer Senior Indebtedness or Guarantor Senior Indebtedness in Default</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">In the event and
during the continuation of any default in the payment of any Issuer Senior Indebtedness or any Guarantor Senior Indebtedness, as applicable,
that is due and payable, or in the event that any event of default with respect to any Issuer Senior Indebtedness or Guarantor Senior
Indebtedness, as applicable, shall have occurred and be continuing permitting the holders of such Issuer Senior Indebtedness or Guarantor
Senior Indebtedness, as applicable (or the trustee on behalf of the holders of such Issuer Senior Indebtedness or Guarantor Senior Indebtedness,
as applicable) to declare such Issuer Senior Indebtedness or Guarantor Senior Indebtedness, as applicable, due and payable prior to the
date on which it would otherwise have become due and payable, unless and until such default or event of default shall have been cured
or waived or shall have ceased to exist and any such declaration and its consequences shall have been rescinded or annulled, then no
payment shall be made by the Issuer or the applicable Guarantors on account of the principal of, premium (if any), interest or any other
amounts on the Notes or on account of the purchase or other acquisition of the Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">In the event that,
notwithstanding the foregoing, the Issuer or a Guarantor shall make any payment to any Trustee or Holder of any Note that is prohibited
by this Section&nbsp;2.14.2, and if such fact shall, at or prior to the time of such payment, have been made known to the Trustees, by
a written notice delivered to a Responsible Officer of the U.S. Trustee at the Corporate Trust Office of the U.S. Trustee, by a holder
of Issuer Senior Indebtedness or Guarantor Senior Indebtedness, the Issuer, a Guarantor or a Holder, as applicable, then and in such
event such payment shall be paid over and delivered to the Issuer or such Guarantor, as applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.14.3</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Payment
Permitted if No Default</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">Nothing contained
in this Section&nbsp;2.14 (except in Section&nbsp;2.14.4) or elsewhere in this Second Supplemental Indenture, or in any of the Notes,
shall prevent the application by the U.S. Trustee or any Paying Agent of any moneys deposited with it under the Indenture to payments
of the principal of, premium (if any), interest or any other amounts on the Notes if, at the time of such deposit, a Responsible Officer
of the U.S. Trustee had not received at the Corporate Trust Office of the U.S. Trustee the Officers&rsquo; Certificate or written notice
provided for in Section&nbsp;2.14.2 of any event prohibiting the making of such payment or if, at the time of such deposit (whether or
not in trust) by the Issuer with the U.S. Trustee, such payment would not have been prohibited by the provisions of this Section&nbsp;2.14,
and the U.S. Trustee shall not be affected by any notice to the contrary received by it on or after such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.14.4</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Trustee
Not Charged with Knowledge of Prohibition</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">Anything in this
Section&nbsp;2.14 or elsewhere contained in the Indenture to the contrary notwithstanding, the Trustees shall not at any time be charged
with knowledge of the existence of any facts which would prohibit the making of any payment of moneys to or by the Trustees, and shall
be entitled conclusively to assume that no such facts exist and that no event specified in Section&nbsp;2.14.1 or Section&nbsp;2.14.2
has happened, unless and until a Responsible Officer of the U.S. Trustee shall have received at the Corporate Trust Office of the U.S.
Trustee (i)&nbsp;an Officers&rsquo; Certificate to that effect or (ii)&nbsp;notice in writing to that effect signed by or on behalf of
the holder or holders, or their representatives, of Issuer Senior Indebtedness or Guarantor Senior Indebtedness, as applicable, who shall
have been certified by the Issuer or such Guarantor, as possible, or otherwise established to the reasonable satisfaction of the U.S.
Trustee to be such holder or holders or representatives or from any trustee under any indenture pursuant to which such Issuer Senior
Indebtedness or Guarantor Senior Indebtedness, as applicable, shall be outstanding; and before the receipt of any such Officers&rsquo;
Certificate or written notice, the U.S. Trustee shall be entitled in all respects to assume that no such facts exist; provided, however,
that if the U.S. Trustee shall not have received the Officers&rsquo; Certificate or the written notice provided for in this Section&nbsp;2.14
at least three (3)&nbsp;Business Days prior to the date upon which by the terms hereof any money may become payable for any purpose (including,
without limitation, the payment of the principal of or interest on any Security) then, anything herein contained to the contrary notwithstanding,
the U.S. Trustee shall have all power and authority to receive such money and to apply the same to the purpose for which such money were
received and shall not be affected by any notice to the contrary which may be received by it during or after such three (3)&nbsp;Business
Day period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">The Issuer shall
give prompt written notice to the U.S. Trustee and to the Paying Agent of any facts which would prohibit the payment of money or assets
to or by the U.S. Trustee or any Paying Agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.14.5</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Trustee
to Effectuate Subordination</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">Each Holder of
Notes by such Holder&rsquo;s acceptance thereof authorizes and directs the U.S. Trustee on such Holder&rsquo;s behalf to take such action
as may be necessary or appropriate to effectuate the subordination as between such Holder and holders of Issuer Senior Indebtedness or
Guarantor Senior Indebtedness, as applicable, as provided in this Section&nbsp;2.14 and appoints the U.S. Trustee its attorney-in-fact
for any and all such purposes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.14.6</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Rights
of Trustees as Holder of Issuer Senior Indebtedness</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">Each Trustee shall
be entitled to all the rights set forth in this Section&nbsp;2.14 with respect to any Issuer Senior Indebtedness or Guarantor Senior
Indebtedness, as applicable, which may at the time be held by it, to the same extent as any other holder of Issuer Senior Indebtedness
or Guarantor Senior Indebtedness, as applicable. Nothing in this Section&nbsp;2.14 shall deprive the Trustees of any rights as such holders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.14.7</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Article&nbsp;Applicable
to Paying Agents</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">In case at any
time any Paying Agent other than the U.S. Trustee shall have been appointed by the Issuer and be then acting under this Indenture, the
term &ldquo;U.S. Trustee&rdquo; as used in this Section&nbsp;2.14 shall in such case (unless the context shall otherwise require) be
construed as extending to and including such Paying Agent within its meaning as fully for all intents and purposes as if the Paying Agent
were named in this Section&nbsp;2.14 in addition to or in place of the U.S. Trustee, provided, however, that Sections 2.14.4 and 2.14.5
shall not apply to the Issuer or any Affiliate of the Issuer if the Issuer or such Affiliate acts as Paying Agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.14.8</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Subordination
Rights Not Impaired by Acts or Omissions of the Issuer or Holders of Issuer Senior Indebtedness or Guarantor Senior Indebtedness</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">No right of any
present or future holders of any Issuer Senior Indebtedness or Guarantor Senior Indebtedness, as applicable, to enforce the subordination
that is provided for in this Second Supplemental Indenture shall at any time in any way be prejudiced or impaired by any act or failure
to act on the part of the Issuer or any Guarantor, or by any act or failure to act, in good faith, by any such holder, or by any noncompliance
by the Issuer or any Guarantor with the terms, provisions, and covenants of the Indenture, regardless of any knowledge which any such
holder may have or be otherwise charged with. The holders of Issuer Senior Indebtedness or Guarantor Senior Indebtedness, as applicable,
may, at any time or from time to time and in their absolute discretion, change the manner, place, or terms of payment, change or extend
the time of payment of, or renew or alter, any Issuer Senior Indebtedness or Guarantor Senior Indebtedness, or amend or supplement any
instrument pursuant to which any Issuer Senior Indebtedness or Guarantor Senior Indebtedness is issued or by which it may be secured,
or release any security, or exercise or refrain from exercising any other of their rights under any Issuer Senior Indebtedness or Guarantor
Senior Indebtedness, including, without limitation, the waiver of default, all without notice to or assent from the Holders of the Notes
or the Trustees and without affecting the obligations of the Issuer, any Guarantor, the Trustees, or the Holders of the Notes under this
Section&nbsp;2.14.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.14.9</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Trustee&rsquo;s
Rights to Compensation, Reimbursement of Expenses and Indemnification</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">Nothing in this
Section&nbsp;2.14 shall apply to claims of, or payments to, the Trustees under or pursuant to Sections 6.6 or 7.10 of the Original Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.14.10</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Modification
of Subordination Provisions</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">Anything in this
Section&nbsp;2.14 or elsewhere contained in the Indenture to the contrary notwithstanding, no modification or amendment and no supplemental
indenture shall modify the subordination provisions of this Section&nbsp;2.14 in a manner that would adversely affect the holders of
Issuer Senior Indebtedness or Guarantor Senior Indebtedness.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>2.15</B></TD><TD><B>Consent and Acknowledgement of the Guarantors</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to Section&nbsp;3.1
of the Original Indenture, the Partnership hereby consents to the issuance of the Notes by the Issuer and each Guarantor acknowledges
and confirms that its obligations with respect to the Notes constitute Guarantee Obligations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>Article&nbsp;3<BR>
COVENANTS OF THE PARTNERSHIP APPLICABLE TO THE NOTES</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>3.1</B></TD><TD><B>Distribution Stopper Undertaking</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Unless the Issuer has paid
all interest that has been deferred or is then payable on the Notes, neither the Issuer nor the Partnership will:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">declare any distributions or dividends
                                            on the Distribution Restricted Securities or pay any interest on any Parity Indebtedness
                                            (other than dividends or distributions in the form of stock or units, respectively, on the
                                            Distribution Restricted Securities);</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">redeem, purchase or otherwise retire any
                                            Distribution Restricted Securities or Parity Indebtedness (except (i)&nbsp;with respect to
                                            Distribution Restricted Securities or Parity Indebtedness, out of the net cash proceeds of
                                            a substantially concurrent issue of Distribution Restricted Securities or Parity Indebtedness,
                                            respectively, or (ii)&nbsp;pursuant to any purchase obligation, sinking fund, retraction
                                            privilege or mandatory redemption provisions attaching to any series of Distribution Restricted
                                            Securities);&nbsp;or</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(c)</FONT></TD><TD STYLE="text-align: justify">make
                                            any payment to holders of any of the Distribution Restricted Securities or any Parity Indebtedness
                                            in respect of distributions or dividends not declared or paid on such Distribution Restricted
                                            Securities or interest not paid on such Parity Indebtedness, respectively.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>provided
</I></FONT>that the foregoing clauses (a)&nbsp;and (c)&nbsp;shall not apply in respect of any pro rata dividend or distribution or any
other payment on any Parity Indebtedness which is made with a pro rata payment of any accrued and unpaid interest with respect to the
Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>3.2</B></TD><TD><B>Issuance of Partnership Preferred Units</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Partnership covenants
for the benefit of Holders of Notes that, for so long as the Notes are Outstanding, the Partnership will not create or issue any Partnership
Preferred Units which, in the event of insolvency, liquidation, dissolution or winding-up of the Partnership, would rank in right of
payment in priority to the Exchange Preferred Units.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>Article&nbsp;4<BR>
MISCELLANEOUS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>4.1</B></TD><TD><B>Guarantors of the Notes</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Brookfield Infrastructure
US Holdings I Corporation, a guarantor under the Original Indenture, will not be a Guarantor in respect of the Notes, and BI LLC, which
was not party to the Original Indenture, will be a Guarantor in respect of the Notes and hereby agrees to be bound by the terms of the
Indenture, including Article&nbsp;5 of the Original Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>4.2</B></TD><TD><B>Ratification of Original Indenture</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Original Indenture, as
amended and supplemented by this Second Supplemental Indenture, is in all respects ratified and confirmed, and this Second Supplemental
Indenture shall be deemed part of the Indenture in the manner and to the extent herein and therein provided.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>4.3</B></TD><TD><B>Acceptance of Trust by Trustees</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Trustees hereby accept
the trusts and duties declared and provided for in, and as otherwise contemplated by, this Second Supplemental Indenture and hereby agree
to perform the same upon the terms and conditions set forth herein and as contemplated hereby and in the Original Indenture, in each
case as supplemented and amended from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>4.4</B></TD><TD><B>Benefits of Indenture</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Nothing in this Second Supplemental
Indenture or in the Notes, express or implied, shall give to any Person, other than the parties hereto, any Authenticating Agent, any
Paying Agent, any Securities Registrar and their successors hereunder and the Holders, any benefit or any legal or equitable right, remedy
or claim under this Second Supplemental Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>4.5</B></TD><TD><B>Governing Law</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Second Supplemental
Indenture, the Notes and the Guarantors&rsquo; Guarantee Obligations shall be governed by and construed in accordance with the laws of
the State of New York, without regard to conflicts of laws principles thereof. Notwithstanding the preceding sentence of this Section&nbsp;4.4,
the exercise, performance or discharge by the Canadian Trustee of any of its rights, powers, duties or responsibilities hereunder shall
be construed in accordance with the laws of the Province of Alberta and the federal laws of Canada applicable thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>4.6</B></TD><TD><B>Separability</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In case any one or more of
the provisions contained in this Second Supplemental Indenture or in the Notes shall for any reason be held to be invalid, illegal or
unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provisions of this Second Supplemental
Indenture or of the Notes, but this Second Supplemental Indenture and the Notes shall be construed as if such invalid or illegal or unenforceable
provision had never been contained herein or therein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>4.7</B></TD><TD><B>Counterparts</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This instrument may be executed
in any number of counterparts, each of which so executed shall be deemed to be an original, but all such counterparts shall together
constitute but one and the same instrument. This instrument may be executed and delivered by facsimile or other electronic transmission
of a counterpart hereof bearing a manual, facsimile or other electronic signature.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[THE REMAINDER OF THIS PAGE INTENTIONALLY LEFT
BLANK]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>IN
WITNESS WHEREOF</B></FONT>, the parties hereto have caused this Second Supplemental Indenture to be duly executed as of the day and year
first above written.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>BROOKFIELD INFRASTRUCTURE FINANCE ULC</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 43%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    David Krant</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="padding-left: 0.5in; text-indent: -0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">David
    Krant</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Senior Vice President and Chief Financial Officer</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>BROOKFIELD INFRASTRUCTURE PARTNERS L.P.</B>,
    by its general partner, <B>BROOKFIELD INFRASTRUCTURE PARTNERS LIMITED</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 43%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Jane Sheere</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="padding-left: 0.5in; text-indent: -0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Jane
    Sheere</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Secretary</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>BROOKFIELD INFRASTRUCTURE L.P.</B>,
    by its managing general partner, <B>BROOKFIELD INFRASTRUCTURE PARTNERS L.P.</B>, by its general partner, <B>BROOKFIELD INFRASTRUCTURE
    PARTNERS LIMITED</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 43%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Jane Sheere</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="padding-left: 0.5in; text-indent: -0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Jane
    Sheere</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Secretary</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>BIP BERMUDA HOLDINGS I LIMITED</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 43%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Jane Sheere</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="padding-left: 0.5in; text-indent: -0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Jane
    Sheere</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Secretary</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[<I>Signature page&nbsp;&ndash; Second Supplemental
Indenture</I>]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 21 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>BROOKFIELD INFRASTRUCTURE HOLDINGS (CANADA)
    INC.</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 43%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    David Krant</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="padding-left: 0.5in; text-indent: -0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">David
    Krant</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Senior Vice President and Chief Financial Officer </FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>BROOKFIELD INFRASTRUCTURE LLC</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 43%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Ralph Klatzkin</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="padding-left: 0.5in; text-indent: -0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ralph
    Klatzkin</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vice President</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>BIPC HOLDINGS INC.</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 43%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    David Krant</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="padding-left: 0.5in; text-indent: -0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">David
    Krant</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Senior Vice President</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><I>[Signature page &ndash;
Second Supplemental Indenture]</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<!-- Field: Page; Sequence: 22 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>COMPUTERSHARE TRUST COMPANY OF CANADA</B>,
    as Canadian Trustee</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 43%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Yana Nedyalkova</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="padding-left: 0.5in; text-indent: -0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Yana
    Nedyalkova</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Corporate Trust Officer</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Raji Sivalingam </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="padding-left: 0.5in; text-indent: -0.5in">Raji Sivalingam</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Associate Trust Officer</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[<I>Signature page&nbsp;&ndash; Second Supplemental
Indenture</I>]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 23 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>COMPUTERSHARE TRUST COMPANY, N.A.</B>,
    as U.S. Trustee</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 43%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Jerry Urbanek</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="padding-left: 0.5in; text-indent: -0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Jerry
    Urbanek</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Trust Officer</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[<I>Signature page&nbsp;&ndash; Second Supplemental
Indenture</I>]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ANNEX A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[Face of Note]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">[Insert if the Security is a Global Security
 &mdash; THIS SECURITY IS A GLOBAL NOTE WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A
DEPOSITARY OR A NOMINEE THEREOF.&nbsp; THIS SECURITY MAY&nbsp;NOT BE EXCHANGED IN WHOLE OR IN PART&nbsp;FOR A SECURITY REGISTERED, AND
NO TRANSFER OF THIS SECURITY IN WHOLE OR IN PART&nbsp;MAY&nbsp;BE REGISTERED,&nbsp;IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY
OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Unless this certificate is presented by an authorized
representative of The Depository Trust Company (&ldquo;<B>DTC</B>&rdquo;), a New York corporation, to Brookfield Infrastructure Finance
ULC or its agent for registration of transfer, exchange or payment, and any certificate issued in respect thereof is registered in the
name of Cede&nbsp;&amp; Co., or in such other name as is requested by an authorized representative of DTC (and any payment is made to
Cede&nbsp;&amp; Co. or to such other entity as is requested by an authorized representative of DTC), ANY TRANSFER, PLEDGE OR OTHER USE
HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL since the registered owner hereof, Cede&nbsp;&amp; Co., has an interest
herein.]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>BROOKFIELD INFRASTRUCTURE FINANCE ULC</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">7.250% Subordinated Notes Due May&nbsp;31, 2084</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 50%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CUSIP: 11276B
    208</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ISIN: US11276B2088</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">No.&nbsp;</FONT><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">US$</FONT><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Brookfield
Infrastructure Finance ULC, an unlimited liability company organized under the laws of Alberta, Canada (herein called the &ldquo;<B>Issuer</B>&rdquo;,
which term includes any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to
</FONT>&#9679;, or registered assigns, the principal sum of &#9679; (&#9679;) United States Dollars on May&nbsp;31, 2084 and to pay interest
thereon from and including the Issue Date or from and including the most recent Interest Payment Date to which interest has been paid
or duly provided for, quarterly in arrears on March&nbsp;31, June&nbsp;30, September&nbsp;30 and December&nbsp;31 in each year, commencing
on September&nbsp;30, 2024, at a rate of 7.250% per annum, until the principal hereof is paid or made available for payment, calculated
as set forth above, from the dates such amounts are due until they are paid or made available for payment, and such interest shall be
payable on demand. As provided in the Original Indenture (as defined on the reverse of this Note), interest shall be computed on the
basis of a 360-day year consisting of twelve 30-day months. Interest shall accrue from and including the Issue Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The interest so payable, and punctually paid
or duly provided for, on any Interest Payment Date will, as provided in such Indenture, be paid to the Person in whose name this Security
(or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest, which shall
be March&nbsp;16, June&nbsp;15, September&nbsp;15 or December&nbsp;16 (whether or not a Business Day), as the case may be, next preceding
such Interest Payment Date.&nbsp; Any such interest not so punctually paid or duly provided for will forthwith cease to be payable to
the Holder on such Regular Record Date and may either be paid to the Person in whose name this Security (or one or more Predecessor Securities)
is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the U.S. Trustee,
notice whereof shall be given to Holders of Securities of this series not less than 10 days prior to such Special Record Date, or be
paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities
of this series may be listed, and upon such notice as may be required by such exchange, all as more fully provided in the Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">So long as no Event of Default (as defined in
the Indenture) has occurred and is continuing, the Issuer may elect, at its sole option, at any date other than an Interest Payment Date,
to defer the interest payable on the Securities on one or more occasions for up to five consecutive years (a &ldquo;<B>Deferral Period</B>&rdquo;).
There shall be no limit on the number of Deferral Periods that may occur. Such deferral will not constitute an Event of Default or any
other breach under the Indenture and the Securities. Deferred interest will accrue until paid. A Deferral Period terminates on any Interest
Payment Date on which the Issuer pays all accrued and unpaid interest on such date. No Deferral Period may extend beyond the Maturity
Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This Security will be automatically exchanged
into Exchange Preferred Units (as defined in the Indenture) upon an Automatic Exchange Event, in the manner, with the effect and as of
the effective time contemplated in the Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The indebtedness evidenced by this Security and
by all other Securities now or hereafter certified and delivered under the Indenture is subordinated and subject in right of payment,
to the extent and in the manner provided in the Indenture, to the prior payment in full of all present and future Issuer Senior Indebtedness,
whether outstanding at the date of the Indenture or thereafter created, incurred, assumed or guaranteed. The Guarantors&rsquo; Guarantee
Obligations rank subordinate in rank and priority of payment in full of all Guarantor Senior Indebtedness on the same basis as this Security
and the obligations of the Issuer hereunder are subordinated to all Issuer Senior Indebtedness.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Payment of the principal of (and premium, if
any) and interest on this Security will be made at the Place of Payment in such coin or currency of the United States of America as at
the time of payment is legal tender for payment of public and private debt; provided, however, that, at the option and expense of the
Issuer, payment of interest may be made by (i)&nbsp;cheque mailed to the address of the Person entitled thereto as such address shall
appear in the Security Register or (ii)&nbsp;by wire transfer to an account maintained by the Person entitled thereto as specified in
the Security Register.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Reference is hereby made to the further provisions
of this Security set forth on the reverse hereof, which further provisions shall, for all purposes, have the same effect as if set forth
at this place.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Unless the certificate of authentication hereon
has been executed by the U.S. Trustee referred to on the reverse hereof by manual, facsimile or other electronic signature, this Security
shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>[The balance of this
page&nbsp;is intentionally left blank; signature page&nbsp;follows]</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">IN WITNESS WHEREOF, the Issuer has caused this
instrument to be duly executed under its corporate seal.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Dated: &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;,
</FONT><FONT STYLE="font-family: Symbol">2024</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-left: 10pt; text-indent: -10pt">&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>BROOKFIELD INFRASTRUCTURE FINANCE ULC</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-left: 10pt; text-indent: -10pt">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-left: 10pt; text-indent: -10pt">&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-left: 10pt; text-indent: -10pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name: David Krant</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-left: 10pt; text-indent: -10pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title: Senior Vice President and Chief Financial Officer</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-left: 10pt; text-indent: -10pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Attest:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 45%; padding-left: 10pt; text-indent: -10pt">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 48%">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>Name: Keir Hunt</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>Title: President</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(FORM&nbsp;OF U.S. TRUSTEE&rsquo;S CERTIFICATE
OF AUTHENTICATION)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>U.S. TRUSTEE&rsquo;S CERTIFICATE OF AUTHENTICATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This Note is one of the Notes referred to in the
Indenture referred to above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 50%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>COMPUTERSHARE TRUST <BR>
    COMPANY N.A., as U.S. Trustee</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By: Authorized Officer</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dated:</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(FORM&nbsp;OF REGISTRATION PANEL)&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(NO WRITING HEREON EXCEPT BY THE U.S. TRUSTEE
OR OTHER REGISTRAR)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; width: 34%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>DATE&nbsp;OF<BR>
    REGISTRY</B></FONT></TD>
    <TD STYLE="width: 1%; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 32%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>IN&nbsp;WHOSE&nbsp;NAME<BR>
    REGISTERED</B></FONT></TD>
    <TD STYLE="width: 1%; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 32%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>SIGNATURE&nbsp;OF&nbsp;U.S.<BR>
    TRUSTEE<BR>
    OR&nbsp;OTHER&nbsp;REGISTRAR</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[Reverse of Note.]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Security is one of a
duly authorized issue of securities of the Issuer (herein called the &ldquo;<B>Securities</B>&rdquo;), issued and to be issued in one
or more series under an Indenture, dated as of May&nbsp;24, 2021 (the &ldquo;<B>Original Indenture</B>&rdquo;), as supplemented by the
Second Supplemental Indenture, dated as of May&nbsp;31, 2024 (the &ldquo;<B>Second Supplemental Indenture</B>&rdquo;) (the Original Indenture
and the Second Supplemental Indenture together herein called the &ldquo;<B>Indenture</B>&rdquo;, which term shall have the meaning assigned
to it in such instrument), by and among the Issuer, Brookfield Infrastructure Partners L.P., Brookfield Infrastructure L.P., BIP Bermuda
Holdings I Limited, Brookfield Infrastructure Holdings (Canada) Inc., Brookfield Infrastructure LLC and BIPC Holdings Inc. (the &ldquo;<B>Guarantors</B>&rdquo;),
as guarantors, and Computershare Trust Company N.A., as U.S. trustee (the &ldquo;<B>U.S. Trustee</B>&rdquo;) and Computershare Trust
Company of Canada, as Canadian trustee (the &ldquo;Canadian Trustee&rdquo;, and together with the U.S. Trustee, the &ldquo;Trustees&rdquo;,
which term includes any successor trustees&nbsp;under the Indenture), and reference is hereby made to the Indenture for a statement of
the respective rights, limitations of rights, duties and immunities thereunder of the Issuer, the Guarantors, the Trustee and the Holders
of the Securities and of the terms upon which the Securities are, and are to be, authenticated and delivered. This Security is one of
the series designated on the face hereof, initially limited in aggregate principal amount to US$172,500,000, of which $150,000,000 principal
amount has been issued as of the date hereof. The Issuer may from time to time, without the consent of the holders of the Securities,
create and issue further securities having the same terms and conditions in all respects as the Securities issued on the date hereof,
except for the issue date, the issue price and the first payment of interest thereon.&nbsp; Additional securities issued in this manner
will be consolidated with and will form a single series with the Securities; provided that if any additional securities issued after
the date hereof are not fungible with the Securities issued on the date hereof for U.S. federal income tax purposes, then such additional
securities shall be issued with a separate CUSIP or ISIN number so that they are distinguishable from the Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Issuer or a Guarantor
(as applicable) will pay to each relevant Holder or beneficial owner certain Additional Amounts in the event of the withholding or deduction
of certain Canadian or Bermudian taxes as described in the Second Supplemental Indenture. In addition, certain Other Additional Amounts
may be payable as contemplated in Section&nbsp;2.12 of the Second Supplemental Indenture and as described in the applicable supplemental
indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Securities are redeemable
at the Redemption Prices as described in the Second Supplemental Indenture and in any applicable supplemental indenture as contemplated
in Section&nbsp;2.12 of the Second Supplemental Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If an Event of Default with
respect to Securities of this series shall occur and be continuing, the principal of the Securities of this series may be declared due
and payable in the manner and with the effect provided in the Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In the event of purchase
of this Security in part only, a new Security or Securities of this series and of like tenor for the unpurchased portion hereof will
be issued in the name of the Holder hereof upon the cancellation hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Indenture contains provisions
for defeasance at any time of the entire indebtedness of this Security or certain restrictive covenants and Events of Default with respect
to this Security, in each case upon compliance with certain conditions set forth in the Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Indenture permits, with
certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Issuer and the
rights of the Holders of the Securities of each series to be affected under the Indenture at any time by the Issuer, the Guarantors and
the Trustees with the consent of the Holders of a majority in principal amount of the Securities at the time Outstanding of each series
to be affected.&nbsp; The Indenture also contains provisions permitting the Holders of specified percentages in principal amount of the
Securities of each series at the time Outstanding, on behalf of the Holders of all Securities of such series, to waive compliance by
the Issuer or the Guarantors with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences.
Any such consent or waiver by the Holder of this Security shall be conclusive and binding upon such Holder and upon all future Holders
of this Security and of any Security issued upon the registration of transfer hereof or in exchange hereafter or in lieu hereof, whether
or not notation of such consent or waiver is made upon this Security.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As provided in the Indenture
and subject to certain limitations therein set forth, the transfer of this Security is registrable in the Security Register, upon surrender
of this Security for registration of transfer at the Corporate Trust Office of the U.S. Trustee or the Place of Payment, duly endorsed
by, or accompanied by a written instrument of transfer, in form satisfactory to the Issuer and the Security Registrar, duly executed
by the Holder hereof or attorney duly authorized in writing, and, thereupon, one or more new Securities of this series and of like tenor,
of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Securities of this series
are issuable only in registered form without coupons in initial denominations of US$25.00 and multiples of US$25.00 in excess thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">No service charge shall be
made for any such registration of transfer or exchange, but the Issuer may require payment of a sum sufficient to cover any tax or other
governmental charge payable in connection therewith.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Prior to due presentment
of this Security for registration of transfer, the Issuer, the Trustees and any agent of the Issuer or the Trustee may treat the Person
in whose name this Security is registered as the owner hereof for all purposes, whether or not this Security be overdue, and neither
the Issuer, the Trustee nor any such agent shall be affected by notice to the contrary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">THE LAWS OF THE STATE OF
NEW YORK SHALL GOVERN AND BE USED TO CONSTRUE THE INDENTURE AND THE SECURITIES, <FONT STYLE="text-transform: uppercase">without regard
to conflicts of laws principles thereof</FONT>. Notwithstanding the preceding sentence, the exercise, performance or discharge by the
Canadian Trustee of any of its rights, powers, duties or responsibilities hereunder shall be construed in accordance with the laws of
the Province of Alberta and the federal laws of Canada applicable thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">All terms used in this Security
which are defined in the Indenture shall have the meanings assigned to them in the Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.3
<SEQUENCE>4
<FILENAME>tm2415565d4_ex4-3.htm
<DESCRIPTION>EXHIBIT 4.3
<TEXT>
<HTML>
<HEAD>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 4.3&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>BROOKFIELD INFRASTRUCTURE PARTNERS L.P.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIXTH AMENDMENT TO THE<BR>
AMENDED AND RESTATED LIMITED PARTNERSHIP AGREEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B>THIS AMENDMENT </B>(the &ldquo;<B>Amendment</B>&rdquo;)
to the Amended and Restated Limited Partnership Agreement dated as of February&nbsp;16, 2018 (the &ldquo;<B>Agreement</B>&rdquo;) of Brookfield
Infrastructure Partners L.P. (the &ldquo;<B>Partnership</B>&rdquo;) is made as of May&nbsp;31, 2024 (the &ldquo;<B>Effective Date</B>&rdquo;),
by the undersigned. Capitalized terms used but not defined herein shall have the meanings set forth in the Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B>WHEREAS</B>, on March&nbsp;12,
2015, the limited partnership agreement of the Partnership was amended to allow for preferred limited partnership interests in the Partnership
and to create the Class&nbsp;A Preferred Limited Partnership Units;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B>AND WHEREAS</B>, the General
Partner desires to amend the Agreement to create an additional series of Class&nbsp;A Preferred Limited Partnership Units having the rights
and restrictions set out in Part&nbsp;XVII of Schedule A to this Amendment;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B>AND WHEREAS</B>, pursuant
to Section&nbsp;14.1 of the Agreement, subject to compliance with the requirements of the Limited Partnership Act and the Exempted Partnerships
Act, the General Partner (pursuant to its power of attorney from the Limited Partners), without the approval of any Limited Partner, may
amend any provision of the Agreement to reflect certain changes, including, as provided for in Section&nbsp;14.1.6 of the Agreement, an
amendment that the General Partner determines in its sole discretion to be necessary or appropriate for the creation, authorization or
issuance of any class or series of Partnership Interests;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B>AND WHEREAS</B>, the General
Partner desires to amend the Agreement as set out herein;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B>NOW THEREFORE</B>,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify">Section&nbsp;1.1.2 of the Agreement is hereby deleted in its entirety and replaced with the following:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify">&ldquo;<B>Agreement</B>&rdquo; means
this Amended and Restated Limited Partnership Agreement of Brookfield Infrastructure Partners L.P., as amended by the First Amendment
to the Amended and Restated Limited Partnership Agreement of the Partnership dated as of September&nbsp;12, 2018, the Second Amendment
to the Amended and Restated Limited Partnership Agreement of the Partnership dated as of February&nbsp;27, 2020, the Third Amendment to
the Amended and Restated Limited Partnership Agreement of the Partnership dated as of September&nbsp;21, 2020, the Fourth Amendment to
the Amended and Restated Limited Partnership Agreement of the Partnership dated as of January&nbsp;21, 2021, the Fifth Amendment to the
Amended and Restated Limited Partnership Agreement of the Partnership dated as of May&nbsp;24, 2021 and the Sixth Amendment to the Amended
and Restated Limited Partnership Agreement of the Partnership dated as of May&nbsp;31, 2024;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: justify">Schedule A of the Agreement is hereby amended by adding Part&nbsp;XVII of Schedule A to this Amendment
as Part&nbsp;XVII of Schedule A of the Agreement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">3.</TD><TD STYLE="text-align: justify">This Amendment shall be effective as of the Effective Date.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">4.</TD><TD STYLE="text-align: justify">This Amendment shall be governed by and construed in accordance with the laws of Bermuda.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">5.</TD><TD STYLE="text-align: justify">Except as modified herein, all terms and conditions of the Agreement shall remain in full force and effect.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">6.</TD><TD STYLE="text-align: justify">This Amendment may be executed in any number of counterparts, each of which shall be deemed to be an original
and all of which shall be construed together as one agreement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B>IN WITNESS WHEREOF</B>, the
General Partner has executed this Amendment as of the Effective Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="3">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>GENERAL PARTNER:</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>BROOKFIELD INFRASTRUCTURE PARTNERS LIMITED&nbsp;</B></P></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">/s/ James Bodi</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;James Bodi</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: justify"><FONT STYLE="font-size: 10pt">Title: </FONT></TD>
    <TD STYLE="width: 44%; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;Vice President</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><I>[Sixth Amendment to BIP
A&amp;R LPA]</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SCHEDULE&nbsp;A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PART&nbsp;XVII</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Number and Designation of and Rights, Privileges,
Restrictions and Conditions&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Attaching to the Class&nbsp;A Preferred Limited
Partnership Units, Series&nbsp;16</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The sixteenth series of Class&nbsp;A
Preferred Limited Partnership Units of the Partnership shall consist of preferred limited partnership interests designated as Class&nbsp;A
Preferred Limited Partnership Units, Series&nbsp;16 (the &ldquo;<B>Series&nbsp;16 Preferred Units</B>&rdquo;) and, in addition to the
rights, privileges, restrictions and conditions attaching to the Class&nbsp;A Preferred Limited Partnership Units as a class, shall have
attached thereto the following rights, privileges, restrictions and conditions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><B>1.</B></TD><TD STYLE="text-align: justify"><B>Definitions</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">For the purposes hereof, the following
capitalized terms shall have the following meanings, unless the context otherwise requires:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&ldquo;<B>Additional Amounts</B>&rdquo;
has the meaning specified in Section&nbsp;2(C)(e)(i)&nbsp;to this Part&nbsp;XVII of Schedule A.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&ldquo;<B>Arrears</B>&rdquo; means,
with respect to the Series&nbsp;16 Distributions, the full cumulative Series&nbsp;16 Distributions through the most recent Series&nbsp;16
Distribution Payment Date that have not been paid on all Outstanding Series&nbsp;16 Preferred Units.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&ldquo;<B>Assignee</B>&rdquo; means
a Person to whom one or more Partnership Interests have been transferred in a manner permitted under this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&ldquo;<B>Automatic Exchange Event</B>&rdquo;
means the occurrence of any of: (i)&nbsp;the making by the Issuer of a general assignment for the benefit of its creditors or a proposal
(or the filing of a notice of its intention to do so) under the <I>Bankruptcy and Insolvency Act</I> (Canada); (ii)&nbsp;any proceeding
instituted by the Issuer and/or the Partnership seeking to adjudicate them as bankrupt (including any voluntary assignment in bankruptcy)
or insolvent or, where the Issuer and/or the Partnership are insolvent, seeking liquidation, winding up, dissolution, reorganization,
arrangement, compromise, adjustment, protection, relief or composition of their debts under any law relating to bankruptcy or insolvency
in Canada or Bermuda (as applicable), or seeking the entry of an order for the appointment of a receiver, interim receiver, trustee or
other similar official for the Issuer and/or the Partnership or in respect of all or any substantial part of their property and assets
in circumstances where the Issuer and/or the Partnership are adjudged as bankrupt (including any voluntary assignment in bankruptcy) or
insolvent; (iii)&nbsp;a receiver, interim receiver, trustee or other similar official is appointed over the Issuer and/or the Partnership
or for all or substantially all of their property and assets by a court of competent jurisdiction in circumstances where the Issuer and/or
the Partnership are adjudged as bankrupt (including any voluntary assignment in bankruptcy) or insolvent under any law relating to bankruptcy
or insolvency in Canada or Bermuda (as applicable); or (iv)&nbsp;any proceeding is instituted against the Issuer and/or the Partnership
seeking to adjudicate them as bankrupt (including any voluntary assignment in bankruptcy) or insolvent, or where the Issuer and/or the
Partnership are insolvent, seeking liquidation, winding up, dissolution, reorganization, arrangement, compromise, adjustment, protection,
relief or composition of their debts under any law relating to bankruptcy or insolvency in Canada or Bermuda (as applicable), or seeking
the entry of an order for the appointment of a receiver, interim receiver, trustee or other similar official for the Issuer and/or the
Partnership or in respect of all or any substantial part of their property and assets in circumstances where the Issuer and/or the Partnership
are adjudged as bankrupt or insolvent under any law relating to bankruptcy or insolvency in Canada or Bermuda (as applicable), and in
any such case, such proceeding has not been stayed or dismissed within 60 days of the institution of any such proceeding or the actions
sought in such proceedings occur (including the entry of an order for relief against the Issuer and/or the Partnership or the appointment
of a receiver, interim receiver, trustee, or other similar official for them or for all or substantially all of their property and assets).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&ldquo;<B>Change in Tax Law</B>&rdquo;
means (i)&nbsp;a change in or amendment to laws, regulations or rulings of any Relevant Taxing Jurisdiction, (ii)&nbsp;a change in the
official application or interpretation of those laws, regulations or rulings, (iii)&nbsp;any execution of or amendment to any treaty affecting
taxation to which any Relevant Taxing Jurisdiction is party or (iv)&nbsp;a decision rendered by a court of competent jurisdiction in any
Relevant Taxing Jurisdiction, whether or not such decision was rendered with respect to the Partnership, in each case described in (i)-(iv)&nbsp;above
occurring after May&nbsp;31, 2024; provided that in the case of a Relevant Taxing Jurisdiction other than Bermuda in which a Successor
Entity is organized, such Change in Tax Law must occur after the date on which the Partnership consolidates, merges or amalgamates (or
engages in a similar transaction) with the Successor Entity, or conveys, transfers or leases substantially all of the Partnership&rsquo;s
properties and assets to the Successor Entity, as applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&ldquo;<B>Depositary</B>&rdquo; means,
with respect to any Series&nbsp;16 Preferred Units issued in global form, The Depository Trust Company and its successors and permitted
assigns.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&ldquo;<B>Issuer</B>&rdquo; means Brookfield
Infrastructure Finance ULC, an unlimited liability company organized under the laws of the Province of Alberta, Canada.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&ldquo;<B>Notes</B>&rdquo; means the
7.250% subordinated notes due May&nbsp;31, 2084 issued by the Issuer and guaranteed, on a subordinated basis, by the Partnership, Brookfield
Infrastructure L.P., BIP Bermuda Holdings I Limited, Brookfield Infrastructure Holdings (Canada) Inc., Brookfield Infrastructure LLC and
BIPC Holdings Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&ldquo;<B>NYSE</B>&rdquo; means the
New York Stock Exchange.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&ldquo;<B>Paying Agent</B>&rdquo; means
the Series&nbsp;16 Transfer Agent, acting in its capacity as paying agent for the Series&nbsp;16 Preferred Units, and its respective successors
and assigns or any other paying agent appointed by the General Partner; provided, however, that if no Paying Agent is specifically designated
for the Series&nbsp;16 Preferred Units, the General Partner shall act in such capacity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&ldquo;<B>Relevant Date</B>&rdquo;
has the meaning specified in Section&nbsp;2(C)(e)(ii)&nbsp;to this Part&nbsp;XVII of Schedule A.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&ldquo;<B>Relevant Taxing Jurisdiction</B>&rdquo;
means (i)&nbsp;Bermuda or any political subdivision or governmental authority of or in Bermuda with the power to tax, (ii)&nbsp;any jurisdiction
from or through which the Partnership or the Paying Agent is making payments on the Series&nbsp;16 Preferred Units or any political subdivision
or governmental authority of or in that jurisdiction with the power to tax or (iii)&nbsp;any other jurisdiction in which the Partnership
or a Successor Entity is organized or generally subject to taxation or any political subdivision or governmental authority of or in that
jurisdiction with the power to tax.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&ldquo;<B>Series&nbsp;16 Distribution
Payment Date</B>&rdquo; means the last calendar day of each of March, June, September&nbsp;and December&nbsp;of each year following the
Series&nbsp;16 Original Issue Date; provided however, that if any Series&nbsp;16 Distribution Payment Date would otherwise occur on a
day that is not a Business Day, such Series&nbsp;16 Distribution Payment Date shall instead be on the immediately succeeding Business
Day without the accrual of additional distributions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&ldquo;<B>Series&nbsp;16 Distribution
Period</B>&rdquo; means a period of time from and including the preceding Series&nbsp;16 Distribution Payment Date to, but excluding,
the next Series&nbsp;16 Distribution Payment Date for such Series&nbsp;16 Distribution Period (other than the initial Series&nbsp;16 Distribution
Period, which means a period of time from and including the Series&nbsp;16 Original Issue Date to, but excluding, the first Series&nbsp;16
Distribution Payment Date thereafter).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&ldquo;<B>Series&nbsp;16 Distribution
Rate</B>&rdquo; means the distribution rate payable on the Series&nbsp;16 Preferred Units from time to time, being the same rate as the
interest rate which would have accrued on the Notes at any such time if such Notes had not been automatically converted into Series&nbsp;16
Preferred Units upon an Automatic Exchange Event, and had remained outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&ldquo;<B>Series&nbsp;16 Distribution
Record Date</B>&rdquo; has the meaning given to such term in Section&nbsp;2(C)(b)(iii)&nbsp;to this Part&nbsp;XVII of Schedule A.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&ldquo;<B>Series&nbsp;16 Distributions</B>&rdquo;
means distributions with respect to Series&nbsp;16 Preferred Units pursuant to Section&nbsp;2(C)(b)&nbsp;to this Part&nbsp;XVII of Schedule
A.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&ldquo;<B>Series&nbsp;16 Holder</B>&rdquo;
means a Record Holder of Series&nbsp;16 Preferred Units.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&ldquo;<B>Series&nbsp;16 Junior Securities</B>&rdquo;
means any class or series of Partnership Interests that, with respect to distributions on such Partnership Interests and distributions
upon dissolution, liquidation or winding-up of the Partnership, whether voluntary or involuntary, pursuant to Article&nbsp;13 of the Agreement,
ranks junior to the Series&nbsp;16 Preferred Units, including Equity Units and the General Partner Units, but excluding any Series&nbsp;16
Parity Securities and Series&nbsp;16 Senior Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&ldquo;<B>Series&nbsp;16 Liquidation
Preference</B>&rdquo; means a liquidation preference for each Series&nbsp;16 Preferred Unit equal to $25.00 per unit (subject to adjustment
for any splits, combinations or similar adjustments to the Series&nbsp;16 Preferred Units).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&ldquo;<B>Series&nbsp;16 Original Issue
Date</B>&rdquo; means the day upon which the Series&nbsp;16 Preferred Units are issued upon the occurrence of an Automatic Exchange Event
in accordance with this Part&nbsp;XVII of Schedule A.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&ldquo;<B>Series&nbsp;16 Parity Securities</B>&rdquo;
means (i)&nbsp;every class or series of the Class&nbsp;A Preferred Units and Series&nbsp;16 Preferred Units and (ii)&nbsp;any class or
series of Partnership Interests established after the Series&nbsp;16 Original Issue Date by the General Partner, the terms of which class
or series pursuant to written agreement expressly provide that it ranks on parity in right of payment with the Series&nbsp;16 Preferred
Units as to distributions and amounts payable upon dissolution, liquidation or winding-up of the Partnership, whether voluntary or involuntary,
pursuant to Article&nbsp;13 of the Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&ldquo;<B>Series&nbsp;16 Preferred
Units</B>&rdquo; has the meaning given to such term in the preamble to this Part&nbsp;XVII of Schedule A.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&ldquo;<B>Series&nbsp;16 Redemption
Date</B>&rdquo; has the meaning given such term in Section&nbsp;2(C)(d)(i)&nbsp;to this Part&nbsp;XVII of Schedule A.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&ldquo;<B>Series&nbsp;16 Redemption
Notice</B>&rdquo; has the meaning given such term in Section&nbsp;2(C)(d)(ii)&nbsp;to this Part&nbsp;XVII of Schedule A.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&ldquo;<B>Series&nbsp;16 Redemption
Payments</B>&rdquo; means payments to be made to the Series&nbsp;16 Holders to redeem Series&nbsp;16 Preferred Units in accordance with
Section&nbsp;2(C)(d)&nbsp;to this Part&nbsp;XVII of Schedule A.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&ldquo;<B>Series&nbsp;16 Redemption
Price</B>&rdquo; has the meaning given such term in Section&nbsp;2(C)(d)(i)&nbsp;to this Part&nbsp;XVII of Schedule A.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&ldquo;<B>Series&nbsp;16 Senior Securities</B>&rdquo;
means any class or series of Partnership Interests established after the Series&nbsp;16 Original Issue Date by the General Partner, the
terms of which class or series pursuant to written agreement expressly provide that it ranks senior to the Series&nbsp;16 Preferred Units
as to distributions and amounts payable upon dissolution, liquidation or winding-up of the Partnership, whether voluntary or involuntary,
pursuant to Article&nbsp;13 of the Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&ldquo;<B>Series&nbsp;16 Transfer Agent</B>&rdquo;
means Computershare Inc., and its successors and assigns, or any other transfer agent and registrar appointed by the General Partner for
the Series&nbsp;16 Preferred Units.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&ldquo;<B>Successor Entity</B>&rdquo;
means an entity formed by a consolidation, merger, amalgamation or other similar transaction involving the Partnership or an entity to
which the Partnership conveys, transfers or leases substantially all its properties and assets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&ldquo;<B>Tax Event</B>&rdquo; has
the meaning specified in Section&nbsp;2(C)(d)(i)&nbsp;to this Part&nbsp;XVII of Schedule A.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><B>2.</B></TD><TD STYLE="text-align: justify"><B>Terms of Series&nbsp;16 Preferred Units</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">A.</TD><TD STYLE="text-align: justify"><U>General</U>. Each Series&nbsp;16 Preferred Unit shall be identical in all respects to every other Series&nbsp;16
Preferred Unit, except as to the respective dates from which the Series&nbsp;16 Liquidation Preference shall increase or from which Series&nbsp;16
Distributions may begin accruing, to the extent such dates may differ. The Series&nbsp;16 Preferred Units represent perpetual interests
in the Partnership and shall not give rise to a claim by the Partnership or a Series&nbsp;16 Holder for conversion or, except as set forth
in Section&nbsp;2(C)(d)&nbsp;to this Part&nbsp;XVII of Schedule A, redemption thereof at a particular date.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">B.</TD><TD STYLE="text-align: justify"><U>Issuance</U>. The issue price of each Series&nbsp;16 Preferred Unit shall be $25.00 principal amount
of Notes or $25.00 of accrued and unpaid interest on the Notes, if any.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">C.</TD><TD STYLE="text-align: justify"><U>Rights of Series&nbsp;16 Preferred Units</U>. The Series&nbsp;16 Preferred Units shall have the following
rights, preferences and privileges and shall be subject to the following duties and obligations:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">a.</TD><TD STYLE="text-align: justify"><U>Series&nbsp;16 Preferred Units.</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.25in">i.</TD><TD STYLE="text-align: justify">The authorized number of Series&nbsp;16 Preferred Units shall be unlimited. Series&nbsp;16 Preferred Units
that are purchased or otherwise acquired by the Partnership shall be cancelled.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.25in">ii.</TD><TD STYLE="text-align: justify">The Series&nbsp;16 Preferred Units shall be represented by one or more global Certificates registered
in the name of the Depositary or its nominee, and no Series&nbsp;16 Holder shall be entitled to receive a definitive Certificate evidencing
its Series&nbsp;16 Preferred Units, unless otherwise required by law or the Depositary gives notice of its intention to resign or is no
longer eligible to act as such with respect to the Series&nbsp;16 Preferred Units and the General Partner shall have not selected a substitute
Depositary within sixty (60) calendar days thereafter. So long as the Depositary shall have been appointed and is serving with respect
to the Series&nbsp;16 Preferred Units, payments and communications made by the Partnership to Series&nbsp;16 Holders shall be made by
making payments to, and communicating with, the Depositary.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">b.</TD><TD STYLE="text-align: justify"><U>Distributions</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.25in">i.</TD><TD STYLE="text-align: justify">Distributions on each Outstanding Series&nbsp;16 Preferred Unit shall be cumulative and shall accrue at
the applicable Series&nbsp;16 Distribution Rate from and including the Series&nbsp;16 Original Issue Date (or, for any subsequently issued
and newly Outstanding Series&nbsp;16 Preferred Units, from and including the Series&nbsp;16 Distribution Payment Date immediately preceding
the issue date of such Series&nbsp;16 Preferred Units) until such time as the Partnership pays the Series&nbsp;16 Distribution or redeems
such Series&nbsp;16 Preferred Unit in accordance with Section&nbsp;2(C)(d)&nbsp;to this Part&nbsp;XVII of Schedule A, whether or not such
Series&nbsp;16 Distributions shall have been declared. Series&nbsp;16 Holders shall be entitled to receive Series&nbsp;16 Distributions
from time to time out of any assets of the Partnership legally available for the payment of distributions at the Series&nbsp;16 Distribution
Rate per Series&nbsp;16 Preferred Unit when, as, and, if declared by the General Partner. Series&nbsp;16 Distributions, to the extent
declared by the General Partner to be paid by the Partnership in accordance with this Section&nbsp;2(C)(b)&nbsp;to this Part&nbsp;XVII
of Schedule A, shall be paid, in Arrears, on each Series&nbsp;16 Distribution Payment Date. Series&nbsp;16 Distributions shall accrue
in each Series&nbsp;16 Distribution Period, provided that distributions shall accrue on accrued but unpaid Series&nbsp;16 Distributions
at the Series&nbsp;16 Distribution Rate. If any Series&nbsp;16 Distribution Payment Date otherwise would occur on a date that is not a
Business Day, declared Series&nbsp;16 Distributions shall be paid on the immediately succeeding Business Day without the accrual of additional
distributions. Series&nbsp;16 Distributions shall be payable based on a 360-day year consisting of twelve 30-day months. All Series&nbsp;16
Distributions that are (1)&nbsp;accrued and unpaid or (2)&nbsp;payable by the Partnership pursuant to this Section&nbsp;2(C)(b)&nbsp;or
2(C)(e)(i)&nbsp;to this Part&nbsp;XVII of Schedule A shall be payable without regard to the income of the Partnership and shall be treated
for U.S. federal income tax purposes as guaranteed payments for the use of capital under Section&nbsp;707(c)&nbsp;of the Code, including
for the purpose of determining income, gain, loss, and expense of the Partnership and maintaining capital accounts, unless there is a
change in Tax law or administrative practice that requires treatment other than as guaranteed payments for U.S. federal income tax purposes,
as determined in the sole discretion of the General Partner. For U.S. federal income tax purposes, the deduction attributable to any amount
treated as a guaranteed payment shall be specially allocated to the Partners in a manner determined by the General Partner in its sole
discretion that is not inconsistent with the applicable provisions of the Code and Treasury Regulations. Such guaranteed payments with
respect to any Series&nbsp;16 Distribution Period shall be for the account of Series&nbsp;16 Holders as of the applicable Series&nbsp;16
Distribution Record Date, or as otherwise reasonably determined by the General Partner.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.25in">ii.</TD><TD STYLE="text-align: justify">[Intentionally Omitted]</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.25in">iii.</TD><TD STYLE="text-align: justify">Not later than 5:00 p.m., New York City time, on each Series&nbsp;16 Distribution Payment Date, the Partnership
shall pay those Series&nbsp;16 Distributions, if any, that shall have been declared by the General Partner to Series&nbsp;16 Holders on
the Record Date for the applicable Series&nbsp;16 Distribution. The Record Date (the &ldquo;<B>Series&nbsp;16 Distribution Record Date</B>&rdquo;)
for the payment of any Series&nbsp;16 Distributions shall be the last business day of the calendar month prior to the applicable Series&nbsp;16
Distribution Payment Date, or such other record date as may be fixed by the General Partner in accordance with this Section&nbsp;2 to
this Part&nbsp;XVII of Schedule A. So long as any Series&nbsp;16 Preferred Units are Outstanding, no distribution shall be declared or
paid or set aside for payment on any Series&nbsp;16 Junior Securities (other than a distribution payable solely in Series&nbsp;16 Junior
Securities) unless all accrued and unpaid Series&nbsp;16 Distributions up to and including such distributions payable for the last completed
Series&nbsp;16 Distribution Period, and all accrued and unpaid distributions up to and including the distribution payable for the last
completed period for which distributions were payable on all Series&nbsp;16 Preferred Units and Series&nbsp;16 Parity Securities, have
been declared and paid or set apart for payment; provided, however, notwithstanding anything to the contrary in this Section&nbsp;2(C)(b)(iii)&nbsp;to
this Part&nbsp;XVII of Schedule A, if a distribution period with respect to a class of Series&nbsp;16 Junior Securities or Series&nbsp;16
Parity Securities is shorter than the Series&nbsp;16 Distribution Period, the General Partner may declare and pay regular distributions
with respect to such Series&nbsp;16 Junior Securities or Series&nbsp;16 Parity Securities, so long as, at the time of declaration of such
distribution, (i)&nbsp;there are no Series&nbsp;16 Distributions in Arrears, and (ii)&nbsp;the General Partner expects to have sufficient
funds to pay the full distribution in respect of the Series&nbsp;16 Preferred Units on the next successive Series&nbsp;16 Distribution
Payment Date. Accrued Series&nbsp;16 Distributions in Arrears for any past Series&nbsp;16 Distribution Period may be declared by the General
Partner and paid on any date fixed by the General Partner, whether or not a Series&nbsp;16 Distribution Payment Date, to Series&nbsp;16
Holders on the Record Date for such payment, which may not be less than 10 days before such payment date. Subject to the next succeeding
sentence, if all accrued Series&nbsp;16 Distributions in Arrears on all Outstanding Series&nbsp;16 Preferred Units and all accrued distributions
in arrears on any Series&nbsp;16 Preferred Units and any Series&nbsp;16 Parity Securities shall not have been declared and paid, or if
sufficient funds for the payment thereof shall not have been set apart, payment of accrued distributions in Arrears on the Series&nbsp;16
Preferred Units and accrued distributions in arrears on any such Series&nbsp;16 Parity Securities shall be made in order of their respective
distribution payment dates, commencing with the earliest distribution payment date. If less than all distributions payable with respect
to all Series&nbsp;16 Preferred Units and any other Series&nbsp;16 Parity Securities are to be paid for any distribution period, any partial
payment shall be made pro rata with respect to the Series&nbsp;16 Preferred Units and any such other Series&nbsp;16 Parity Securities
entitled to a distribution payment at such time in proportion to the aggregate distribution amounts remaining due in respect of such Series&nbsp;16
Preferred Units and such other Series&nbsp;16 Parity Securities, if any, at such time and apportioned equally among them in accordance
with the relative amount to be paid or allocated to each group. For purposes of the preceding sentence, each distribution period for any
Series&nbsp;16 Parity Securities that ends on a date other than the last day of March, June, September&nbsp;or December&nbsp;of any year
shall be deemed the same distribution period as the distribution period for Series&nbsp;16 Parity Securities that ends on the last day
of March, June, September&nbsp;or December, respectively, of such year. Subject to Sections 13.3 of the Agreement and Section&nbsp;2(C)(g)&nbsp;to
this Part&nbsp;XVII of Schedule A, Series&nbsp;16 Holders shall not be entitled to any distribution, whether payable in cash, property
or Partnership Interests, in excess of full cumulative Series&nbsp;16 Distributions. Except insofar as distributions accrue on the amount
of any accrued and unpaid Series&nbsp;16 Distributions as described in Section&nbsp;2(C)(b)(i)&nbsp;to this Part&nbsp;XVII of Schedule
A, no interest or sum of money in lieu of interest shall be payable in respect of any distribution payment which may be in Arrears on
the Series&nbsp;16 Preferred Units. So long as the Series&nbsp;16 Preferred Units are held of record by the Depositary or its nominee,
declared Series&nbsp;16 Distributions shall be paid to the Depositary in same-day funds on each Series&nbsp;16 Distribution Payment Date
or other distribution payment date in the case of payments for Series&nbsp;16 Distributions in Arrears. If on any Series&nbsp;16 Distribution
Payment Date, the Series&nbsp;16 Distributions accrued to such date are not paid in full on all of the Series&nbsp;16 Preferred Units
then Outstanding, such Series&nbsp;16 Distributions, or the unpaid part thereof, shall be paid on a subsequent date or dates determined
by the General Partner on which the Partnership shall have sufficient monies legally available for such Series&nbsp;16 Distributions under
Bermuda law.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">c.</TD><TD STYLE="text-align: justify"><U>Voting Rights</U>.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.25in">i.</TD><TD STYLE="text-align: justify">Notwithstanding anything to the contrary in this Agreement, the Series&nbsp;16 Preferred Units shall not
have any voting rights or rights to consent or approve any action or matter, except as set forth in clause (ii)&nbsp;below and in Section&nbsp;5.4
of Part&nbsp;I of Schedule A to this Agreement, this Section&nbsp;2(C)(c)&nbsp;to this Part&nbsp;XVII of Schedule A or as otherwise required
by Bermuda law.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.25in">ii.</TD><TD STYLE="text-align: justify">The Series&nbsp;16 Holders shall not have any right or authority to act for or bind the Partnership or
to take part or in any way to interfere in the conduct or management of the Partnership or (except as otherwise provided by law and except
for meetings of the holders of Class&nbsp;A Preferred Limited Partnership Units as a class and meetings of the Series&nbsp;16 Holders
as a series, in each case in respect of matters which limited partners may properly vote under Bermuda law) be entitled to receive notice
of, attend, or vote at any meeting of unitholders of the Partnership unless and until the Partnership shall have failed to pay eight quarterly
Series&nbsp;16 Distributions, whether or not consecutive and whether or not such distributions have been declared and whether or not there
are any monies of the Partnership legally available for distributions under Bermuda law. In the event of such non-payment, and for only
so long as any such distributions remain in Arrears, the Holders will be entitled to receive notice of and to attend each meeting of unitholders
of the Partnership (other than any meetings at which only holders of another specified class or series are entitled to vote) and such
Holders shall have the right, at any such meeting, to one vote for each Series&nbsp;16 Preferred Unit held. No other voting rights shall
attach to the Series&nbsp;16 Preferred Units in any circumstances. Upon payment of the entire amount of all cumulative preferential cash
distributions in Arrears, the voting rights of the Series&nbsp;16 Holders shall forthwith cease (unless and until the same default shall
again arise under the provisions of this Section&nbsp;2(C)(c)(ii)&nbsp;to this Part&nbsp;XVII of Schedule A).</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.25in">iii.</TD><TD STYLE="text-align: justify">Notwithstanding anything to the contrary in this Agreement or as otherwise required by Bermuda law, the
General Partner shall not adopt any amendment to the Partnership Agreement that has a material adverse effect on the powers, preferences,
duties or special rights of the Series&nbsp;16 Preferred Units unless such amendment (i)&nbsp;is approved by a resolution signed by Series&nbsp;16
Holders owning not less than the percentage of the Series&nbsp;16 Preferred Units that would be necessary to authorize such action at
a meeting of Series&nbsp;16 Holders at which all Series&nbsp;16 Holders were present and voted or were represented by proxy or (ii)&nbsp;is
passed by an affirmative vote of at least 66 2/3% of the votes cast at a meeting of Series&nbsp;16 Holders duly called for that purpose
and at which the holders of at least 25% of the outstanding Series&nbsp;16 Preferred Units are present or represented by proxy; provided,
however, that (x)&nbsp;subject to Section&nbsp;5.4 of Part&nbsp;I of Schedule A to this Agreement, the issuance of additional Partnership
Interests (and any amendment to this Agreement in connection therewith) shall not be deemed to constitute such a material adverse effect
for purposes of this Section&nbsp;2(C)(c)(ii)&nbsp;to this Part&nbsp;XVII of Schedule A and (y)&nbsp;for purposes of this Section&nbsp;2(C)(c)(ii)&nbsp;to
this Part&nbsp;XVII of Schedule A, no amendment of this Agreement in connection with a merger or other transaction in which the Partnership
is the surviving entity and the Series&nbsp;16 Preferred Units remain Outstanding with the terms thereof materially unchanged in any respect
adverse to the Series&nbsp;16 Holders shall be deemed to materially and adversely affect the powers, preferences, duties, or special rights
of the Series&nbsp;16 Preferred Units. If at any such meeting the holders of Series&nbsp;16 Preferred Units of at least 25% of the then
Outstanding Series&nbsp;16 Preferred Units are not present or represented by proxy within one-half hour after the time appointed for such
meeting, then the meeting shall be adjourned to such date not less than five (5)&nbsp;days thereafter and to such time and place as may
be designated by the chairman of such meeting. At such adjourned meeting, the Series&nbsp;16 Holders present or represented by proxy may
transact the business for which the meeting was originally called and the Series&nbsp;16 Holders then present or represented by proxy
shall form the necessary quorum.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.25in">iv.</TD><TD STYLE="text-align: justify">For any matter described in this Section&nbsp;2(C)(c)&nbsp;to this Part&nbsp;XVII of Schedule A in which
the Series&nbsp;16 Holders are entitled to vote as a series (whether separately or together with the holders of any Series&nbsp;16 Parity
Securities), such Series&nbsp;16 Holders shall be entitled to one vote per Series&nbsp;16 Preferred Unit. The proxy rules&nbsp;applicable
to, the formalities to be observed in respect of the giving notice of, and the formalities to be observed in respect of the conduct of,
any meeting or any adjourned meeting of Series&nbsp;16 Holders shall be those from time to time prescribed by the Agreement with respect
to meetings of unitholders or, if not so prescribed, as required by law. Any Series&nbsp;16 Preferred Units held by the Partnership or
any of its Subsidiaries or their Affiliates shall not be entitled to vote.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.25in">v.</TD><TD STYLE="text-align: justify">Notwithstanding Section&nbsp;2(C)(c)(ii)&nbsp;to this Part&nbsp;XVII of Schedule A and Section&nbsp;5.4
of Part&nbsp;I of Schedule A to this Agreement, no vote of the Series&nbsp;16 Holders shall be required if, at or prior to the time when
such action is to take effect, provision is made for the redemption of all Series&nbsp;16 Preferred Units at the time Outstanding.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">d.</TD><TD STYLE="text-align: justify"><U>Optional Redemption; Change in Tax Law</U>.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.25in">i.</TD><TD STYLE="text-align: justify">The Partnership shall have the right (i)&nbsp;at any time, and from time to time, on or after May&nbsp;31,
2029, in whole or in part, or (ii)&nbsp;if as a result of a Change in Tax Law there is, in the Partnership&rsquo;s reasonable determination,
a substantial probability that the Partnership or any Successor Entity would become obligated to pay any Additional Amounts on the next
succeeding Series&nbsp;16 Distribution Payment Date and the payment of those Additional Amounts cannot be avoided by the use of any reasonable
measures available to the Partnership or any Successor Entity (a &ldquo;<B>Tax Event</B>&rdquo;), in whole but not in part, to redeem
the Series&nbsp;16 Preferred Units, using any source of funds legally available for such purpose. Any such redemption shall occur on a
date set by the General Partner (the &ldquo;<B>Series&nbsp;16 Redemption Date</B>&rdquo;). The Partnership shall effect any such redemption
by paying cash for each Series&nbsp;16 Preferred Unit to be redeemed equal to 100%, of the Series&nbsp;16 Liquidation Preference for such
Series&nbsp;16 Preferred Unit on such Series&nbsp;16 Redemption Date plus an amount equal to all unpaid Series&nbsp;16 Distributions thereon
from the Series&nbsp;16 Original Issue Date to, but excluding, the Series&nbsp;16 Redemption Date (whether or not such distributions shall
have been declared) (the &ldquo;<B>Series&nbsp;16 Redemption Price</B>&rdquo;). So long as the Series&nbsp;16 Preferred Units to be redeemed
are held of record by the Depositary or the nominee of the Depositary, the Series&nbsp;16 Redemption Price shall be paid by the Paying
Agent to the Depositary on the Series&nbsp;16 Redemption Date.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.25in">ii.</TD><TD STYLE="text-align: justify">The Partnership shall give notice of any redemption by mail, postage prepaid, not less than 30 days and
not more than 60 days before the scheduled Series&nbsp;16 Redemption Date to the Series&nbsp;16 Holders (as of 5:00 p.m.&nbsp;New York
City time on the Business Day next preceding the day on which notice is given) of any Series&nbsp;16 Preferred Units to be redeemed as
such Series&nbsp;16 Holders&rsquo; names appear on the books of the Series&nbsp;16 Transfer Agent and at the address of such Series&nbsp;16
Holders shown therein. Such notice (the &ldquo;<B>Series&nbsp;16 Redemption Notice</B>&rdquo;) shall state, as applicable: (1)&nbsp;the
Series&nbsp;16 Redemption Date, (2)&nbsp;the number of Series&nbsp;16 Preferred Units to be redeemed and, if less than all Outstanding
Series&nbsp;16 Preferred Units are to be redeemed, the number (and in the case of Series&nbsp;16 Preferred Units in certificated form,
the identification) of Series&nbsp;16 Preferred Units to be redeemed from such Series&nbsp;16 Holder, (3)&nbsp;the Series&nbsp;16 Redemption
Price, (4)&nbsp;the place where any Series&nbsp;16 Preferred Units in certificated form are to be redeemed and shall be presented and
surrendered for payment of the Series&nbsp;16 Redemption Price therefor (which shall occur automatically if the Certificate representing
such Series&nbsp;16 Preferred Units is issued in the name of the Depositary or its nominee), (5)&nbsp;that distributions on the Series&nbsp;16
Preferred Units to be redeemed shall cease to accrue from and after such Series&nbsp;16 Redemption Date. So long as the Series&nbsp;16
Preferred Units are held of record by the Depositary or its nominee, the Partnership shall give notice, or cause notice to be given, to
the Depositary, and (6)&nbsp;any conditions precedent to redemption; in addition, if such redemption or notice of redemption is subject
to satisfaction of one or more conditions precedent, such notice of redemption shall state that, in the Partnership&rsquo;s discretion,
the Series&nbsp;16 Redemption Date may be delayed until such time as any or all such conditions precedent shall be satisfied or waived,
and a new Series&nbsp;16 Redemption Date will be set by the Partnership in accordance with applicable depositary or trustee procedures,
or such redemption may not occur and such notice of redemption may be rescinded in the event that any or all such conditions precedent
shall not have been satisfied or waived by the Series&nbsp;16 Redemption Date, or by the Series&nbsp;16 Redemption Date as so delayed,
or such notice may be rescinded at any time if in the good faith judgement of the Partnership any or all of such conditions will not be
satisfied or waived.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.25in">iii.</TD><TD STYLE="text-align: justify">If less than all of the then Outstanding Series&nbsp;16 Preferred Units are at any time to be redeemed,
then the particular Series&nbsp;16 Preferred Units to be redeemed shall be selected on a pro rata basis disregarding fractions or in such
manner as the General Partner in its sole discretion may, by resolution determine. The aggregate Series&nbsp;16 Redemption Price for any
such partial redemption of the Outstanding Series&nbsp;16 Preferred Units shall be allocated correspondingly among the redeemed Series&nbsp;16
Preferred Units. The Series&nbsp;16 Preferred Units not redeemed shall remain Outstanding and entitled to all the rights, preferences
and duties provided in this Section&nbsp;2 to this Part&nbsp;XVII of Schedule A.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.25in">iv.</TD><TD STYLE="text-align: justify">If the Partnership gives or causes to be given a Series&nbsp;16 Redemption Notice, the Partnership shall
deposit with the Paying Agent funds sufficient to redeem the Series&nbsp;16 Preferred Units as to which such Series&nbsp;16 Redemption
Notice shall have been given, no later than 10:00 a.m.&nbsp;New York City time on the Series&nbsp;16 Redemption Date, and shall give the
Paying Agent irrevocable instructions and authority to pay the Series&nbsp;16 Redemption Price to each Series&nbsp;16 Holder whose Series&nbsp;16
Preferred Units are to be redeemed upon surrender or deemed surrender (which shall occur automatically if the Certificate representing
such Series&nbsp;16 Preferred Units is issued in the name of the Depositary or its nominee) of the Certificates therefor as set forth
in the Series&nbsp;16 Redemption Notice. If a Series&nbsp;16 Redemption Notice shall have been given, from and after the Series&nbsp;16
Redemption Date, unless the Partnership defaults in providing funds sufficient for such redemption at the time and place specified for
payment pursuant to the Series&nbsp;16 Redemption Notice, all Series&nbsp;16 Distributions on such Series&nbsp;16 Preferred Units to be
redeemed shall cease to accrue and all rights of holders of such Series&nbsp;16 Preferred Units as Limited Partners with respect to such
Series&nbsp;16 Preferred Units to be redeemed shall cease, except the right to receive the Series&nbsp;16 Redemption Price, and such Series&nbsp;16
Preferred Units shall not thereafter be transferred on the books of the Series&nbsp;16 Transfer Agent or be deemed to be Outstanding for
any purpose whatsoever. The Series&nbsp;16 Holders shall have no claim to the interest income, if any, earned on funds deposited with
the Paying Agent. Any funds deposited with the Paying Agent hereunder by the Partnership for any reason, including redemption of Series&nbsp;16
Preferred Units, that remain unclaimed or unpaid after one year after the applicable Series&nbsp;16 Redemption Date or other payment date,
as applicable, shall be, to the extent permitted by law, repaid to the Partnership upon its written request, after which repayment the
Series&nbsp;16 Holders entitled to such redemption or other payment shall have recourse only to the Partnership. Notwithstanding any Series&nbsp;16
Redemption Notice, there shall be no redemption of any Series&nbsp;16 Preferred Units called for redemption until funds sufficient to
pay the full Series&nbsp;16 Redemption Price of such Series&nbsp;16 Preferred Units shall have been deposited by the Partnership with
the Paying Agent.</TD></TR></TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.25in">v.</TD><TD STYLE="text-align: justify">Any Series&nbsp;16 Preferred Units that are redeemed or otherwise acquired by the Partnership shall be
cancelled. If only a portion of the Series&nbsp;16 Preferred Units represented by a Certificate shall have been called for redemption,
upon surrender of the Certificate to the Paying Agent (which shall occur automatically if the Certificate representing such Series&nbsp;16
Preferred Units is registered in the name of the Depositary or its nominee), the Partnership shall issue and the Paying Agent shall deliver
to the Series&nbsp;16 Holders a new Certificate (or adjust the applicable book-entry account) representing the number of Series&nbsp;16
Preferred Units represented by the surrendered Certificate that have not been called for redemption.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.25in">vi.</TD><TD STYLE="text-align: justify">Notwithstanding anything to the contrary in this Section&nbsp;2 to this Part&nbsp;XVII of Schedule A,
unless all accrued and unpaid Series&nbsp;16 Distributions up to and including the distribution payable for the last completed Series&nbsp;16
Distribution Period, and all accrued and unpaid distributions up to and including the distribution payable for the last completed period
for which distributions were payable on all Series&nbsp;16 Preferred Units and Series&nbsp;16 Parity Securities, have been declared and
paid or set apart for payment, the Partnership shall not be permitted to repurchase, redeem or otherwise acquire, in whole or in part,
any Series&nbsp;16 Preferred Units or Series&nbsp;16 Parity Securities, except pursuant to a purchase or exchange offer made on the same
relative terms to all Series&nbsp;16 Holders and holders of any Series&nbsp;16 Parity Securities. So long as any Series&nbsp;16 Preferred
Units are Outstanding, except out of the net cash proceeds of a substantially concurrent issue of Series&nbsp;16 Junior Securities, unless
all accrued and unpaid Series&nbsp;16 Distributions up to and including the distribution payable for the last completed Series&nbsp;16
Distribution Period, and all accrued and unpaid distributions up to and including the distribution payable for the last completed period
for which distributions were payable on all Series&nbsp;16 Preferred Units and Series&nbsp;16 Parity Securities, have been declared and
paid or set apart for payment, the Partnership shall not be permitted to redeem, repurchase or otherwise acquire any Equity Units or any
other Series&nbsp;16 Junior Securities.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">e.</TD><TD STYLE="text-align: justify"><U>Payment of Additional Amounts</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.25in">i.</TD><TD STYLE="text-align: justify">The Partnership shall make all payments on the Series&nbsp;16 Preferred Units free and clear of and without
withholding or deduction at source for, or on account of, any present or future taxes, fees, duties, assessments or governmental charges
of whatever nature imposed or levied by or on behalf of any Relevant Taxing Jurisdiction, unless such taxes, fees, duties, assessments
or governmental charges are required to be withheld or deducted by (i)&nbsp;the laws (or any regulations or rulings promulgated thereunder)
of any Relevant Taxing Jurisdiction for the Series&nbsp;16 Preferred Units or (ii)&nbsp;an official position regarding the application,
administration, interpretation or enforcement of any such laws, regulations or rulings (including a holding by a court of competent jurisdiction
or by a taxing authority in any Relevant Taxing Jurisdiction). If a withholding or deduction at source is required, the Partnership shall,
subject to the limitations and exceptions set forth in this Section&nbsp;2(C)(e)&nbsp;and Section&nbsp;2(C)(f)&nbsp;to this Part&nbsp;XVII
of Schedule A, pay to the Series&nbsp;16 Holders such additional amounts (the &ldquo;<B>Additional Amounts</B>&rdquo;) as distributions
as may be necessary so that every net payment made to such holders, after such withholding or deduction (including any such withholding
or deduction from such Additional Amounts), shall be equal to the amounts the Partnership would otherwise have been required to pay had
no such withholding or deduction been required.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.25in">ii.</TD><TD STYLE="text-align: justify">The Partnership shall not be required to pay any Additional Amounts for or on account of:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.75in"></TD><TD STYLE="width: 0.25in">a)</TD><TD STYLE="text-align: justify">any tax, fee, duty, assessment or governmental charge of whatever nature that would not have been imposed
but for the fact that such holder was a resident, domiciliary or national of, or engaged in business or maintained a permanent establishment
or was physically present in, the Relevant Taxing Jurisdiction or any political subdivision thereof or otherwise had some connection with
the Relevant Taxing Jurisdiction other than by reason of the mere ownership of, or receipt of payment under, the Series&nbsp;16 Preferred
Units or any Series&nbsp;16 Preferred Units presented for payment (where presentation is required for payment) more than 30 days after
the Relevant Date (except to the extent that the holder would have been entitled to such amounts if it had presented such units for payment
on any day within such 30 day period). The &ldquo;<B>Relevant Date</B>&rdquo; means, in respect of any payment, the date on which such
payment first becomes due and payable, but if the full amount of the moneys payable has not been received by the Paying Agent on or prior
to such due date, it means the first date on which the full amount of such moneys having been so received and being available for payment
to holders and notice to that effect shall have been duly given to the Series&nbsp;16 Holders;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.75in"></TD><TD STYLE="width: 0.25in">b)</TD><TD STYLE="text-align: justify">any estate, inheritance, gift, sale, transfer, personal property or similar tax, assessment or other governmental
charge or any tax, assessment or other governmental charge that is payable otherwise than by withholding or deduction from payment of
the liquidation preference or of any distributions on the Series&nbsp;16 Preferred Units;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.75in"></TD><TD STYLE="width: 0.25in">c)</TD><TD STYLE="text-align: justify">any tax, fee, duty, assessment or other governmental charge that is imposed or withheld by reason of the
failure by the holder of such Series&nbsp;16 Preferred Units to comply with any reasonable request by the Partnership addressed to the
holder within 90 days of such request (i)&nbsp;to provide information concerning the nationality, residence or identity of the holder
or (ii)&nbsp;to make any declaration or other similar claim or satisfy any information or reporting requirement that is required or imposed
by statute, treaty, regulation or administrative practice of the Relevant Taxing Jurisdiction as a precondition to exemption from all
or part of such tax, fee, duty, assessment or other governmental charge;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.75in"></TD><TD STYLE="width: 0.25in">d)</TD><TD STYLE="text-align: justify">any tax, fee, duty, assessment or governmental charge imposed under the Code; or</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.75in"></TD><TD STYLE="width: 0.25in">e)</TD><TD STYLE="text-align: justify">any combination of the foregoing.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.25in">iii.</TD><TD STYLE="text-align: justify">In addition, the Partnership shall not pay Additional Amounts with respect to any payment on any such
Series&nbsp;16 Preferred Units to any holder that is a fiduciary, partnership, limited liability company or other pass-through entity
other than the sole beneficial owner of such Series&nbsp;16 Preferred Units if such payment would be required by the laws of the Relevant
Taxing Jurisdiction to be included in the income for tax purposes of a beneficiary or partner or settlor with respect to such fiduciary
or a member of such partnership, limited liability company or other pass-through entity or a beneficial owner to the extent such beneficiary,
partner or settlor would not have been entitled to such Additional Amounts had it been the holder of the Series&nbsp;16 Preferred Units.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">f.</TD><TD STYLE="text-align: justify"><U>Variation</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.25in">i.</TD><TD STYLE="text-align: justify">At any time following a Change in Tax Law, the Partnership may, without the consent of any Series&nbsp;16
Holder, vary the terms of the Series&nbsp;16 Preferred Units such that they remain securities which would eliminate the substantial probability
that the Partnership or any Successor Entity would be required to pay any Additional Amounts with respect to the Series&nbsp;16 Preferred
Units as a result of a Change in Tax Law. The terms of the varied securities considered in the aggregate cannot be less favorable to holders
than the terms of the Series&nbsp;16 Preferred Units prior to being varied; provided that no such variation of terms shall change the
specified denominations of, distribution payable on, the redemption dates (other than any extension of the period during which an optional
redemption may not be exercised by the Partnership) or currency of, the Series&nbsp;16 Preferred Units, reduce the liquidation preference
thereof, lower the ranking in right of payment with respect to the payment of distributions or the distribution of assets upon liquidation,
dissolution or winding-up of the Series&nbsp;16 Preferred Units, or change the foregoing list of items that may not be so amended as part
of such variation. Further, no such variation of terms shall impair the right of a holder of the securities to institute suit for the
payment of any amounts due, but unpaid with respect to such holder&rsquo;s securities.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.25in">ii.</TD><TD STYLE="text-align: justify">Prior to any variation, the Partnership shall be required to receive an opinion of independent legal advisers
to the effect that holders and beneficial owners of the Series&nbsp;16 Preferred Units (including as holders and beneficial owners of
the varied securities) will not recognize income, gain or loss for United States federal income tax purposes as a result of such variation
and will be subject to United States federal income tax on the same amounts, in the same manner and at the same times as would have been
the case had such variation not occurred.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.25in">iii.</TD><TD STYLE="text-align: justify">Any variation of the Series&nbsp;16 Preferred Units described above shall be made after notice is given
to the Series&nbsp;16 Holders not less than 30 days nor more than 60 days prior to the date fixed for variation.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">g.</TD><TD STYLE="text-align: justify"><U>Liquidation Rights</U>. In the event of the liquidation, dissolution or winding-up of the Partnership,
whether voluntary or involuntary, unless the Partnership is continued under the election to reconstitute and continue the Partnership
pursuant to Section&nbsp;13.2 of the Agreement, the Series&nbsp;16 Holders shall be entitled to receive the Series&nbsp;16 Liquidation
Preference per Series&nbsp;16 Preferred Unit held by them, together with all accrued (whether or not declared) and unpaid Series&nbsp;16
Distributions up to but excluding the date of payment or distribution (less any tax required to be deducted and withheld by the Partnership),
before any amounts shall be paid or any assets of the Partnership distributed to the holders of any Series&nbsp;16 Junior Securities.
Upon payment of the amounts set forth in the immediately preceding sentence, the Series&nbsp;16 Holders shall not be entitled to share
in any further distribution of the assets of the Partnership.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">h.</TD><TD STYLE="text-align: justify"><U>Rank</U>. The Series&nbsp;16 Preferred Units shall each be deemed to rank as to payment of distributions
on such Partnership Interests and distributions upon liquidation, dissolution or winding-up of the Partnership, whether voluntary or involuntary:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.25in">i.</TD><TD STYLE="text-align: justify">senior to any Series&nbsp;16 Junior Securities;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.25in">ii.</TD><TD STYLE="text-align: justify">on parity in right of payment with any Series&nbsp;16 Parity Securities; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.25in">iii.</TD><TD STYLE="text-align: justify">junior to all existing and future indebtedness of the Partnership with respect to assets available to
satisfy claims against the Partnership and any other Series&nbsp;16 Senior Securities.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">i.</TD><TD STYLE="text-align: justify"><U>No Sinking Fund</U>. The Series&nbsp;16 Preferred Units shall not have the benefit of any sinking fund.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">j.</TD><TD STYLE="text-align: justify"><U>Record Holders</U>. To the fullest extent permitted by applicable law, the General Partner, the Partnership,
the Series&nbsp;16 Transfer Agent, and the Paying Agent may deem and treat any Series&nbsp;16 Holder as the true, lawful, and absolute
owner of the applicable Series&nbsp;16 Preferred Units for all purposes, and neither the General Partner, the Partnership, the Series&nbsp;16
Transfer Agent nor the Paying Agent shall be affected by any notice to the contrary, except as otherwise provided by law or any applicable
rule, regulation, guideline or requirement of any Securities Exchange on which the Series&nbsp;16 Preferred Units may be listed or admitted
to trading, if any.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">k.</TD><TD STYLE="text-align: justify"><U>Fractional Units</U>. The Series&nbsp;16 Preferred Units may be issued in whole or in fractional units.
Each fractional Series&nbsp;16 Preferred Unit shall carry and be subject to the rights, privileges, restrictions and conditions (including
voting rights and distribution rights) of the Series&nbsp;16 Preferred Units in proportion to the applicable fractions.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">l.</TD><TD STYLE="text-align: justify"><U>Other Rights; Fiduciary Duties</U>. The Series&nbsp;16 Preferred Units and the Series&nbsp;16 Holders
shall not have any designations, preferences, rights, powers, guarantees or duties, other than as set forth in this Agreement or as provided
by applicable law. Notwithstanding anything to the contrary in this Agreement or any duty existing at law, in equity or otherwise, to
the fullest extent permitted by applicable law, neither the General Partner nor any other Indemnified Party shall owe any duties, including
fiduciary duties, or have any liabilities to Series&nbsp;16 Holders, other than the General Partner&rsquo;s duty to act at all times in
good faith.</TD></TR></TABLE>

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<FILENAME>tm2415565d4_ex4-4.htm
<DESCRIPTION>EXHIBIT 4.4
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: right; margin: 0"><B>Exhibit 4.4</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>BROOKFIELD INFRASTRUCTURE L.P.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NINTH AMENDMENT TO THE<BR>
AMENDED AND RESTATED LIMITED PARTNERSHIP AGREEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B>THIS AMENDMENT </B>(the &ldquo;<B>Amendment</B>&rdquo;)
to the Amended and Restated Limited Partnership Agreement dated as of February&nbsp;16, 2018 (the &ldquo;<B>Agreement</B>&rdquo;) of Brookfield
Infrastructure L.P. (the &ldquo;<B>Partnership</B>&rdquo;) is made as of May&nbsp;31, 2024 (the &ldquo;<B>Effective Date</B>&rdquo;),
by the undersigned. Capitalized terms used but not defined herein shall have the meanings set forth in the Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B>WHEREAS</B>, on March&nbsp;12,
2015, the limited partnership agreement of the Partnership was amended to allow for preferred limited partnership interests in the Partnership
and to create the Class&nbsp;A Preferred Limited Partnership Units;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B>AND WHEREAS</B>, the Managing
General Partner desires to amend the Agreement to create an additional series of Class&nbsp;A Preferred Limited Partnership Units having
the rights and restrictions set out in Part&nbsp;XVII of Schedule A to this Amendment;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B>AND WHEREAS</B>, pursuant
to Section&nbsp;18.1 of the Agreement, subject to compliance with the requirements of the Limited Partnership Act and the Exempted Partnerships
Act, the Managing General Partner (pursuant to its powers of attorney from the Special General Partner or any Partner and the Limited
Partners), without the approval of any Limited Partner, may amend any provision of the Agreement to reflect certain changes, including,
as provided for in Section&nbsp;18.1.6 of the Agreement, an amendment that the Managing General Partner determines in its sole discretion
to be necessary or appropriate for the creation, authorization or issuance of any class or series of Partnership Interests;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B>AND WHEREAS</B>, the Managing
General Partner desires to amend the Agreement as set out herein;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B>NOW THEREFORE</B>,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: justify">Section&nbsp;1.1.3 of the Agreement is hereby deleted in its entirety and replaced with the following:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify">&ldquo;<B>Agreement</B>&rdquo; means
this Amended and Restated Limited Partnership Agreement of the Partnership, as amended by the First Amendment to the Amended and Restated
Limited Partnership Agreement of the Partnership dated as of September&nbsp;12, 2018, the Second Amendment to the Amended and Restated
Limited Partnership Agreement of the Partnership dated as of August&nbsp;1, 2019, the Third Amendment to the Amended and Restated Limited
Partnership Agreement of the Partnership dated as of February&nbsp;27, 2020, the Fourth Amendment to the Amended and Restated Limited
Partnership Agreement of the Partnership dated as of March&nbsp;31, 2020, the Fifth Amendment to the Amended and Restated Limited Partnership
Agreement of the Partnership dated as of September&nbsp;21, 2020, the Sixth Amendment to the Amended and Restated Limited Partnership
Agreement of the Partnership dated as of January&nbsp;21, 2021, the Seventh Amendment to the Amended and Restated Limited Partnership
Agreement dated as of May&nbsp;24, 2021, the Eighth Amendment to the Amended and Restated Limited Partnership Agreement dated as of June&nbsp;10,
2022 and the Ninth Amendment to the Amended and Restated Limited Partnership Agreement dated as of May&nbsp;31, 2024;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 266.25pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.</TD><TD STYLE="text-align: justify">Schedule A of the Agreement is hereby amended by adding Part&nbsp;XVII of Schedule A to this Amendment
as Part&nbsp;XVII of Schedule A of the Agreement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">3.</TD><TD STYLE="text-align: justify">This Amendment shall be effective as of the Effective Date.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">4.</TD><TD STYLE="text-align: justify">This Amendment shall be governed by and construed in accordance with the laws of Bermuda.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">5.</TD><TD STYLE="text-align: justify">Except as modified herein, all terms and conditions of the Agreement shall remain in full force and effect.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">6.</TD><TD STYLE="text-align: justify">This Amendment may be executed in any number of counterparts, each of which shall be deemed to be an original
and all of which shall be construed together as one agreement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B>IN WITNESS WHEREOF</B>, the
Managing General Partner has executed this Amendment as of the Effective Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; border-collapse: collapse; width: 100%">
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">MANAGING GENERAL PARTNER: BROOKFIELD
    INFRASTRUCTURE PARTNERS L.P., by its general partner, BROOKFIELD INFRASTRUCTURE PARTNERS LIMITED</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">By: </FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">/s/ James Bodi</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt; width: 50%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 3%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 5%"><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 42%"><FONT STYLE="font-size: 10pt">James Bodi</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Vice President</FONT></TD></TR>
  </TABLE>


<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><I>[Ninth Amendment to BILP
A&amp;R LPA]</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SCHEDULE A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PART&nbsp;XVII</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Number and Designation of and Rights, Privileges,
Restrictions and Conditions<BR>
Attaching to the Class&nbsp;A Preferred Limited Partnership Units, Series&nbsp;16</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The sixteenth series of Class&nbsp;A
Preferred Limited Partnership Units of the Partnership shall consist of preferred limited partnership interests designated as Class&nbsp;A
Preferred Limited Partnership Units, Series&nbsp;16 (the &ldquo;<B>Series&nbsp;16 Units</B>&rdquo;) and, in addition to the rights, privileges,
restrictions and conditions attaching to the Class&nbsp;A Preferred Limited Partnership Units as a class, shall have attached thereto
the following rights, privileges, restrictions and conditions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt"><B>1.</B></FONT><B>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
 &#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">&#8239;Definitions</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For the purposes hereof, the
following capitalized terms shall have the following meanings, unless the context otherwise requires:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&ldquo;<B>Arrears</B>&rdquo; means,
with respect to the Series&nbsp;16 Distributions, the full cumulative Series&nbsp;16 Distributions through the most recent Series&nbsp;16
Distribution Payment Date that have not been paid on all Outstanding Series&nbsp;16 Units.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&ldquo;<B>Assignee</B>&rdquo; means
a Person to whom one or more Partnership Interests have been transferred in a manner permitted under this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&ldquo;<B>Automatic Exchange Event</B>&rdquo;
means the occurrence of any of: (i)&nbsp;the making by the Note Issuer of a general assignment for the benefit of its creditors or a proposal
(or the filing of a notice of its intention to do so) under the <I>Bankruptcy and Insolvency Act</I> (Canada); (ii)&nbsp;any proceeding
instituted by the Note Issuer and/or BIP seeking to adjudicate them as bankrupt (including any voluntary assignment in bankruptcy) or
insolvent or, where the Note Issuer and/or BIP are insolvent, seeking liquidation, winding up, dissolution, reorganization, arrangement,
compromise, adjustment, protection, relief or composition of their debts under any law relating to bankruptcy or insolvency in Canada
or Bermuda (as applicable), or seeking the entry of an order for the appointment of a receiver, interim receiver, trustee or other similar
official for the Note Issuer and/or BIP or in respect of all or any substantial part of their property and assets in circumstances where
the Note Issuer and/or BIP are adjudged as bankrupt (including any voluntary assignment in bankruptcy) or insolvent; (iii)&nbsp;a receiver,
interim receiver, trustee or other similar official is appointed over the Note Issuer and/or BIP or for all or substantially all of their
property and assets by a court of competent jurisdiction in circumstances where the Note Issuer and/or BIP are adjudged as bankrupt (including
any voluntary assignment in bankruptcy) or insolvent under any law relating to bankruptcy or insolvency in Canada or Bermuda (as applicable);
or (iv)&nbsp;any proceeding is instituted against the Note Issuer and/or BIP seeking to adjudicate them as bankrupt (including any voluntary
assignment in bankruptcy) or insolvent, or where the Note Issuer and/or BIP are insolvent, seeking liquidation, winding up, dissolution,
reorganization, arrangement, compromise, adjustment, protection, relief or composition of their debts under any law relating to bankruptcy
or insolvency in Canada or Bermuda (as applicable), or seeking the entry of an order for the appointment of a receiver, interim receiver,
trustee or other similar official for the Note Issuer and/or BIP or in respect of all or any substantial part of their property and assets
in circumstances where the Note Issuer and/or BIP are adjudged as bankrupt or insolvent under any law relating to bankruptcy or insolvency
in Canada or Bermuda (as applicable), and in any such case, such proceeding has not been stayed or dismissed within 60 days of the institution
of any such proceeding or the actions sought in such proceedings occur (including the entry of an order for relief against the Note Issuer
and/or BIP or the appointment of a receiver, interim receiver, trustee, or other similar official for them or for all or substantially
all of their property and assets).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&ldquo;<B>BIP</B>&rdquo; means Brookfield
Infrastructure Partners L.P.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&ldquo;<B>BIP Series&nbsp;16 Additional
Amounts</B>&rdquo; means &ldquo;Additional Amounts&rdquo; as defined in the BIP Partnership Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&ldquo;<B>BIP Series&nbsp;16 Change
in Tax Law</B>&rdquo; shall have the meaning given to it in Schedule A to Part&nbsp;XVII of that certain Sixth Amendment to the Amended
and Restated Limited Partnership Agreement of BIP, dated as of the date hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&ldquo;<B>BIP General Partner</B>&rdquo;
means Brookfield Infrastructure Partners Limited.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&ldquo;<B>BIP Series&nbsp;16 Units</B>&rdquo;
means BIP&rsquo;s Class&nbsp;A Preferred Limited Partnership Units, Series&nbsp;16.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&ldquo;<B>BIP Series&nbsp;16 Successor
Entity</B>&rdquo; means a &ldquo;Successor Entity&rdquo; as defined in the BIP Partnership Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&ldquo;<B>Note Issuer</B>&rdquo; means
Brookfield Infrastructure Finance ULC, an unlimited liability company organized under the laws of the Province of Alberta, Canada.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&ldquo;<B>Notes</B>&rdquo; means the
7.250% subordinated notes due May&nbsp;31, 2084 issued by the Note Issuer and guaranteed, on a subordinated basis, by BIP, the Partnership,
BIP Bermuda Holdings I Limited, Brookfield Infrastructure Holdings (Canada) Inc., Brookfield Infrastructure LLC and BIPC Holdings Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&ldquo;<B>Series&nbsp;16 Distribution
Payment Date</B>&rdquo; means the last calendar day of each of March, June, September&nbsp;and December&nbsp;of each year following the
Series&nbsp;16 Original Issue Date; provided however, that if any Series&nbsp;16 Distribution Payment Date would otherwise occur on a
day that is not a Business Day, such Series&nbsp;16 Distribution Payment Date shall instead be on the immediately succeeding Business
Day without the accrual of additional distributions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&ldquo;<B>Series&nbsp;16 Distribution
Period</B>&rdquo; means a period of time from and including the preceding Series&nbsp;16 Distribution Payment Date to, but excluding,
the next Series&nbsp;16 Distribution Payment Date for such Series&nbsp;16 Distribution Period (other than the initial Series&nbsp;16 Distribution
Period, which means a period of time from and including the Series&nbsp;16 Original Issue Date to, but excluding, the first Series&nbsp;16
Distribution Payment Date thereafter).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&ldquo;<B>Series&nbsp;16 Distribution
Rate</B>&rdquo; means the distribution rate payable on the Series&nbsp;16 Units from time to time, being the same rate as the interest
rate which would have accrued on the Notes at any such time if such Notes had not been automatically converted into Series&nbsp;16 Units
upon an Automatic Exchange Event, and had remained outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&ldquo;<B>Series&nbsp;16 Distribution
Record Date</B>&rdquo; has the meaning given to such term in Section&nbsp;2(B)(b)(iii)&nbsp;to this Part&nbsp;XVII of Schedule A.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&ldquo;<B>Series&nbsp;16 Distributions</B>&rdquo;
means distributions with respect to Series&nbsp;16 Units pursuant to Section&nbsp;2(B)(b)&nbsp;to this Part&nbsp;XVII of Schedule A.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&ldquo;<B>Series&nbsp;16 Holder</B>&rdquo;
means a Record Holder of Series&nbsp;16 Units.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&ldquo;<B>Series&nbsp;16 Liquidation
Preference</B>&rdquo; means a liquidation preference for each Series&nbsp;16 Unit equal to $25.00 per unit (subject to adjustment for
any splits, combinations or similar adjustments to the Series&nbsp;16 Units).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&ldquo;<B>Series&nbsp;16 Original Issue
Date</B>&rdquo; means the day upon which the BIP Series&nbsp;16 Units are issued.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&ldquo;<B>Series&nbsp;16 Units</B>&rdquo;
has the meaning given to such term in the preamble to this Part&nbsp;XVII of Schedule A.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&ldquo;<B>Series&nbsp;16 Redemption
Date</B>&rdquo; has the meaning given such term in Section&nbsp;2(B)(d)(i)&nbsp;to this Part&nbsp;XVII of Schedule A.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&ldquo;<B>Series&nbsp;16 Redemption
Price</B>&rdquo; has the meaning given such term in Section&nbsp;2(B)(d)(i)&nbsp;to this Part&nbsp;XVII of Schedule A.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><B>2.</B></TD><TD STYLE="text-align: justify"><B>Terms of Series&nbsp;16 Units</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">A.</TD><TD STYLE="text-align: justify"><U>General</U>. Each Series&nbsp;16 Unit shall be identical in all respects to every other Series&nbsp;16
Unit, except as to the respective dates from which the Series&nbsp;16 Liquidation Preference shall increase or from which Series&nbsp;16
Distributions may begin accruing, to the extent such dates may differ. The Series&nbsp;16 Units represent perpetual interests in the Partnership
and shall not give rise to a claim by the Partnership or a Series&nbsp;16 Holder for conversion or, except as set forth in Section&nbsp;2(B)(d)&nbsp;to
this Part&nbsp;XVII of Schedule A, redemption thereof at a particular date.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">B.</TD><TD STYLE="text-align: justify"><U>Rights of Series&nbsp;16 Units</U>. The Series&nbsp;16 Units shall have the following rights, preferences
and privileges and shall be subject to the following duties and obligations:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">a.</TD><TD STYLE="text-align: justify"><U>Series&nbsp;16 Units</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">i.</TD><TD STYLE="text-align: justify">The authorized number of Series&nbsp;16 Units shall be unlimited. Series&nbsp;16 Units that are purchased
or otherwise acquired by the Partnership shall be cancelled.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">ii.</TD><TD STYLE="text-align: justify">The Series&nbsp;16 Units shall be represented by one or more Certificates (or in book entry) on the books
and records of the Partnership in the name of the Series&nbsp;16 Holder.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">b.</TD><TD STYLE="text-align: justify"><U>Distributions</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">i.</TD><TD STYLE="text-align: justify">Distributions on each Outstanding Series&nbsp;16 Unit shall be cumulative and shall accrue at the applicable
Series&nbsp;16 Distribution Rate from and including the Series&nbsp;16 Original Issue Date (or, for any subsequently issued and newly
Outstanding Series&nbsp;16 Units, from and including the Series&nbsp;16 Distribution Payment Date immediately preceding the issue date
of such Series&nbsp;16 Units) until such time as the Partnership pays the Series&nbsp;16 Distribution or redeems such Series&nbsp;16 Unit
in accordance with Section&nbsp;2(B)(d)&nbsp;to this Part&nbsp;XVII of Schedule A, whether or not such Series&nbsp;16 Distributions shall
have been declared. Series&nbsp;16 Holders shall be entitled to receive Series&nbsp;16 Distributions from time to time out of any assets
of the Partnership legally available for the payment of distributions at the Series&nbsp;16 Distribution Rate per Series&nbsp;16 Unit
when, as, and, if declared by the Managing General Partner. Series&nbsp;16 Distributions, to the extent declared by the Managing General
Partner to be paid by the Partnership in accordance with this Section&nbsp;2(B)(b)&nbsp;to this Part&nbsp;XVII of Schedule A, shall be
paid, in Arrears, on each Series&nbsp;16 Distribution Payment Date. Series&nbsp;16 Distributions shall accrue in each Series&nbsp;16 Distribution
Period, provided that distributions shall accrue on accrued but unpaid Series&nbsp;16 Distributions at the Series&nbsp;16 Distribution
Rate. If any Series&nbsp;16 Distribution Payment Date otherwise would occur on a date that is not a Business Day, declared Series&nbsp;16
Distributions shall be paid on the immediately succeeding Business Day without the accrual of additional distributions. Series&nbsp;16
Distributions shall be payable based on a 360-day year consisting of twelve 30-day months. All Series&nbsp;16 Distributions that are (1)&nbsp;accrued
and unpaid or (2)&nbsp;payable by the Partnership pursuant to this Section&nbsp;2(B)(b)&nbsp;or 2(B)(e)&nbsp;to this Part&nbsp;XVII of
Schedule A shall be payable without regard to the income of the Partnership and shall be treated for U.S. federal income tax purposes
as guaranteed payments for the use of capital under Section&nbsp;707(c)&nbsp;of the Code, including for the purpose of determining Net
Income and Net Loss and otherwise maintaining Capital Accounts, unless there is a change in Tax law or administrative practice that requires
treatment other than as guaranteed payments for U.S. federal income tax purposes, as determined in the sole discretion of the Managing
General Partner. For U.S. federal income tax purposes, the deduction attributable to any amount treated as a guaranteed payment shall
be specially allocated to the Partners in a manner determined by the Managing General Partner in its sole discretion that is not inconsistent
with the applicable provisions of the Code and Treasury Regulations. Such guaranteed payments with respect to any Series&nbsp;16 Distribution
Period shall be for the account of Series&nbsp;16 Holders as of the applicable Series&nbsp;16 Distribution Record Date, or as otherwise
reasonably determined by the Managing General Partner.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">ii.</TD><TD STYLE="text-align: justify">[Intentionally Omitted]</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">iii.</TD><TD STYLE="text-align: justify">Not later than 5:00 p.m., New York City time, on each Series&nbsp;16 Distribution Payment Date, the Partnership
shall pay those Series&nbsp;16 Distributions, if any, that shall have been declared by the Managing General Partner to Series&nbsp;16
Holders on the Record Date for the applicable Series&nbsp;16 Distribution. The Record Date (the &ldquo;<B>Series&nbsp;16 Distribution
Record Date</B>&rdquo;) for the payment of any Series&nbsp;16 Distributions shall be the last business day of the calendar month prior
to the applicable Series&nbsp;16 Distribution Payment Date, or such other record date as may be fixed by the Managing General Partner
in accordance with this Section&nbsp;2 to this Part&nbsp;XVII of Schedule A. So long as any Series&nbsp;16 Units are Outstanding, no distribution
shall be declared or paid or set aside for payment on any Junior Securities (other than a distribution payable solely in Junior Securities)
unless all accrued and unpaid Series&nbsp;16 Distributions up to and including such distributions payable for the last completed Series&nbsp;16
Distribution Period, and all accrued and unpaid distributions up to and including the distribution payable for the last completed period
for which distributions were payable on all Parity Securities, have been declared and paid or set apart for payment; provided, however,
notwithstanding anything to the contrary in this Section&nbsp;2(B)(b)(iii)&nbsp;to this Part&nbsp;XVII of Schedule A, if a distribution
period with respect to a class of Junior Securities or Parity Securities is shorter than the Series&nbsp;16 Distribution Period, the Managing
General Partner may declare and pay regular distributions with respect to such Junior Securities or Parity Securities, so long as, at
the time of declaration of such distribution, (i)&nbsp;there are no Series&nbsp;16 Distributions in Arrears, and (ii)&nbsp;the Managing
General Partner expects to have sufficient funds to pay the full distribution in respect of the Series&nbsp;16 Units on the next successive
Series&nbsp;16 Distribution Payment Date. Accrued Series&nbsp;16 Distributions in Arrears for any past Series&nbsp;16 Distribution Period
may be declared by the Managing General Partner and paid on any date fixed by the Managing General Partner, whether or not a Series&nbsp;16
Distribution Payment Date, to Series&nbsp;16 Holders on the Record Date for such payment, which may not be less than 10 days before such
payment date. Subject to the next succeeding sentence, if all accrued Series&nbsp;16 Distributions in Arrears on all Outstanding Series&nbsp;16
Units and all accrued distributions in arrears on any Parity Securities shall not have been declared and paid, or if sufficient funds
for the payment thereof shall not have been set apart, payment of accrued distributions in Arrears on the Series&nbsp;16 Units and accrued
distributions in arrears on any such Parity Securities shall be made in order of their respective distribution payment dates, commencing
with the earliest distribution payment date. If less than all distributions payable with respect to all Series&nbsp;16 Units and any other
Parity Securities are to be paid for any distribution period, any partial payment shall be made pro rata with respect to the Series&nbsp;16
Units and any such other Parity Securities entitled to a distribution payment at such time in proportion to the aggregate distribution
amounts remaining due in respect of such Series&nbsp;16 Units and such other Parity Securities, if any, at such time and apportioned equally
among them in accordance with the relative amount to be paid or allocated to each group. For purposes of the preceding sentence, each
distribution period for any series of Parity Securities that ends on a date other than the last day of March, June, September&nbsp;or
December&nbsp;of any year shall be deemed the same distribution period as the distribution period for Parity Securities that ends on the
last day of March, June, September&nbsp;or December, respectively, of such year. Subject to Sections 17.4 of this Agreement and Section&nbsp;2(B)(f)&nbsp;to
this Part&nbsp;XVII of Schedule A, Series&nbsp;16 Holders shall not be entitled to any distribution, whether payable in cash, property
or Partnership Interests, in excess of full cumulative Series&nbsp;16 Distributions. Except insofar as distributions accrue on the amount
of any accrued and unpaid Series&nbsp;16 Distributions as described in Section&nbsp;2(B)(b)(i)&nbsp;to this Part&nbsp;XVII of Schedule
A, no interest or sum of money in lieu of interest shall be payable in respect of any distribution payment which may be in Arrears on
the Series&nbsp;16 Units. Declared Series&nbsp;16 Distributions shall be paid to the Series&nbsp;16 Holders in same-day funds on each
Series&nbsp;16 Distribution Payment Date or other distribution payment date in the case of payments for Series&nbsp;16 Distributions in
Arrears.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">c.</TD><TD STYLE="text-align: justify"><U>Voting Rights</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">i.</TD><TD STYLE="text-align: justify">Notwithstanding anything to the contrary in this Agreement, the Series&nbsp;16 Units shall not have any
voting rights or rights to consent or approve any action or matter, except as set forth in Sections 5.4 and 6 of Part&nbsp;I of Schedule
A to this Agreement, this Section&nbsp;2(B)(c)&nbsp;to this Part&nbsp;XVII of Schedule A or as otherwise required by Bermuda law.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">ii.</TD><TD STYLE="text-align: justify">The rights, privileges, restrictions and conditions attached to the Series&nbsp;16 Units may be added
to, changed or removed but only with the approval of the holders of a majority of the Outstanding Series&nbsp;16 Units, given as hereinafter
specified.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">iii.</TD><TD STYLE="text-align: justify">The approval of the holders of the Series&nbsp;16 Units as a series in respect of any matter requiring
the consent of the holders of the Series&nbsp;16 Units as a series may be given in such manner as may then be required by Law, subject
to a minimum requirement that such approval be passed by the requisite affirmative vote of the votes cast at a meeting of the holders
of Series&nbsp;16 Units as a series duly called and held for that purpose in accordance with Article&nbsp;18 of this Agreement or given
by resolution signed by holders of Series&nbsp;16 Units as a series in accordance with Article&nbsp;18 of this Agreement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">iv.</TD><TD STYLE="text-align: justify">Each Series&nbsp;16 Unit shall entitle the holder thereof to one vote for the purposes of any approval
at a meeting of the holders of the Series&nbsp;16 Units or by written consent.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">d.</TD><TD STYLE="text-align: justify"><U>Optional Redemption</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">i.</TD><TD STYLE="text-align: justify">The Partnership shall have the right to redeem the Series&nbsp;16 Units (i)&nbsp;at any time, and from
time to time, on or after May&nbsp;31, 2029, in whole or in part, or (ii)&nbsp;if BIP redeems the BIP Series&nbsp;16 Units following a
BIP Series&nbsp;16 Change in Tax Law where, in BIP&rsquo;s reasonable determination, a substantial probability that BIP or any BIP Series&nbsp;16
Successor Entity would become obligated to pay any BIP Series&nbsp;16 Additional Amounts on the next succeeding distribution payment date
with respect to the BIP Series&nbsp;16 Units and the payment of those BIP Series&nbsp;16 Additional Amounts cannot be avoided by the use
of any reasonable measures available to BIP or any BIP Series&nbsp;16 Successor Entity, in whole but not in part, using any source of
funds legally available for such purpose. Any such redemption shall occur on a date set by the Managing General Partner (the &ldquo;<B>Series&nbsp;16
Redemption Date</B>&rdquo;). The Partnership shall effect any such redemption by paying cash for each Series&nbsp;16 Unit to be redeemed
equal to 100%, of the Series&nbsp;16 Liquidation Preference for such Series&nbsp;16 Unit on such Series&nbsp;16 Redemption Date plus an
amount equal to all unpaid Series&nbsp;16 Distributions thereon from the Series&nbsp;16 Original Issue Date to, but excluding, the Series&nbsp;16
Redemption Date (whether or not such distributions shall have been declared) (the &ldquo;<B>Series&nbsp;16 Redemption Price</B>&rdquo;).
The Series&nbsp;16 Redemption Price shall be paid by the Partnership to the Series&nbsp;16 Holders on the Series&nbsp;16 Redemption Date.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">ii.</TD><TD STYLE="text-align: justify">The Partnership shall give notice of any redemption not less than 30 days and not more than 60 days before
the scheduled Series&nbsp;16 Redemption Date to the Series&nbsp;16 Holders (as of 5:00 p.m.&nbsp;New York City time on the Business Day
next preceding the day on which notice is given) of any Series&nbsp;16 Units to be redeemed as such Series&nbsp;16 Holders&rsquo; names
appear on the books of the Partnership and at the address of such Series&nbsp;16 Holders shown therein. Such notice shall state any conditions
precedent to redemption; in addition, if such redemption or notice of redemption is subject to satisfaction of one or more conditions
precedent, such notice of redemption shall state that, in the Partnership&rsquo;s discretion, the Series&nbsp;16 Redemption Date may be
delayed until such time as any or all such conditions precedent shall be satisfied or waived, and a new Series&nbsp;16 Redemption Date
will be set by the Partnership in accordance with applicable depositary or trustee procedures, or such redemption may not occur and such
notice of redemption may be rescinded in the event that any or all such conditions precedent shall not have been satisfied or waived by
the Series&nbsp;16 Redemption Date, or by the Series&nbsp;16 Redemption Date as so delayed, or such notice may be rescinded at any time
if in the good faith judgement of the Partnership any or all of such conditions will not be satisfied or waived.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">iii.</TD><TD STYLE="text-align: justify">If the Partnership elects to redeem less than all of the Outstanding Series&nbsp;16 Units in the event
of an optional redemption on or after May&nbsp;31, 2029, the number of Series&nbsp;16 Units to be redeemed shall be determined by the
Managing General Partner, and such Series&nbsp;16 Units shall be redeemed by such method of selection as the Managing General Partner
shall determine, either apportioned equally among all Series&nbsp;16 Holders in accordance with the relative number or percentage of Series&nbsp;16
Units held by each such Series&nbsp;16 Holder or by lot, with adjustments to avoid redemption of fractional Series&nbsp;16 Units. The
aggregate Series&nbsp;16 Redemption Price for any such partial redemption of the Outstanding Series&nbsp;16 Units shall be allocated correspondingly
among the redeemed Series&nbsp;16 Units. The Series&nbsp;16 Units not redeemed shall remain Outstanding and entitled to all the rights,
preferences and duties provided in this Section&nbsp;2 to this Part&nbsp;XVII of Schedule A.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">iv.</TD><TD STYLE="text-align: justify">No later than 10:00 a.m.&nbsp;New York City time on the Series&nbsp;16 Redemption Date, the Partnership
shall pay or cause to be paid to the Series&nbsp;16 Holders immediately available funds sufficient to pay the Series&nbsp;16 Redemption
Price to each Series&nbsp;16 Holder whose Series&nbsp;16 Units are to be redeemed upon surrender or deemed surrender of the Certificates
(or book entry position) therefor.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">v.</TD><TD STYLE="text-align: justify">Any Series&nbsp;16 Units that are redeemed or otherwise acquired by the Partnership shall be cancelled.
If only a portion of the Series&nbsp;16 Units represented by a Certificate shall have been called for redemption, upon surrender of the
Certificate to the Partnership, the Partnership shall issue and deliver to the Series&nbsp;16 Holders a new Certificate (or adjust the
applicable book-entry account) representing the number of Series&nbsp;16 Units represented by the surrendered Certificate that have not
been called for redemption.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">vi.</TD><TD STYLE="text-align: justify">Notwithstanding anything to the contrary in this Section&nbsp;2 to this Part&nbsp;XVII of Schedule A,
unless all accrued and unpaid Series&nbsp;16 Distributions up to and including the distribution payable for the last completed Series&nbsp;16
Distribution Period, and all accrued and unpaid distributions up to and including the distribution payable for the last completed period
for which distributions were payable on all Parity Securities, have been declared and paid or set apart for payment, the Partnership shall
not be permitted to repurchase, redeem or otherwise acquire, in whole or in part, any Series&nbsp;16 Units or Parity Securities, except
pursuant to a purchase or exchange offer made on the same relative terms to all Series&nbsp;16 Holders and holders of any Parity Securities.
So long as any Series&nbsp;16 Units are Outstanding, except out of the net cash proceeds of a substantially concurrent issue of Junior
Securities, unless all accrued and unpaid Series&nbsp;16 Distributions up to and including the distribution payable for the last completed
Series&nbsp;16 Distribution Period, and all accrued and unpaid distributions up to and including the distribution payable for the last
completed period for which distributions were payable on all Parity Securities, have been declared and paid or set apart for payment,
the Partnership shall not be permitted to redeem, repurchase or otherwise acquire any Equity Units or any other Junior Securities.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">e.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Payment
of Additional Amounts</U>. If BIP shall be required, pursuant to Section&nbsp;2(C)(e)&nbsp;of Part&nbsp;XVII of Schedule A of the BIP
Partnership Agreement to pay additional amounts to holders of the BIP Series&nbsp;16 Units, the Partnership shall pay to the Series&nbsp;16
Holders such additional amounts as distributions on the Series&nbsp;16 Units as may be necessary such that the additional amounts paid
as distributions by the Partnership shall equal the additional amounts paid by BIP pursuant to 2(C)(e)&nbsp;of Part&nbsp;XVII of Schedule
A of the BIP Partnership Agreement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">f.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Liquidation
Rights</U>. In the event of the liquidation, dissolution or winding-up of the Partnership, whether voluntary or involuntary, unless the
Partnership is continued under the election to reconstitute and continue the Partnership pursuant to Section&nbsp;17.3 of the Agreement,
the Series&nbsp;16 Holders shall be entitled to receive the Series&nbsp;16 Liquidation Preference per Series&nbsp;16 Unit held by them,
together with all accrued (whether or not declared) and unpaid Series&nbsp;16 Distributions up to but excluding the date of payment or
distribution (less any tax required to be deducted and withheld by the Partnership), before any amounts shall be paid or any assets of
the Partnership distributed to the holders of any Junior Securities. Upon payment of such amounts, the Series&nbsp;16 Holders shall not
be entitled to share in any further distribution of the assets of the Partnership.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">g.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>No
Sinking Fund</U>. The Series&nbsp;16 Units shall not have the benefit of any sinking fund.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">h.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Record
Holders</U>. To the fullest extent permitted by applicable law, the Managing General Partner and the Partnership may deem and treat any
Series&nbsp;16 Holder as the true, lawful, and absolute owner of the applicable Series&nbsp;16 Units for all purposes, and neither the
Managing General Partner nor the Partnership shall be affected by any notice to the contrary, except as otherwise provided by law.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">i.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Fractional
Units</U>. The Series&nbsp;16 Units may be issued in whole or in fractional units. Each fractional Series&nbsp;16 Unit shall carry and
be subject to the rights, privileges, restrictions and conditions (including voting rights and distribution rights) of the Series&nbsp;16
Units in proportion to the applicable fractions.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">j.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Other
Rights; Fiduciary Duties</U>. The Series&nbsp;16 Units and the Series&nbsp;16 Holders shall not have any designations, preferences, rights,
powers, guarantees or duties, other than as set forth in this Agreement or as provided by applicable law. Notwithstanding anything to
the contrary in this Agreement or any duty existing at law, in equity or otherwise, to the fullest extent permitted by applicable law,
neither the Managing General Partner nor any other Indemnified Party shall owe any duties, including fiduciary duties, or have any liabilities
to Series&nbsp;16 Holders, other than the Managing General Partner&rsquo;s duty to act at all times in good faith.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 5.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

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<TR STYLE="vertical-align: top">
  <TD><IMG SRC="tm2415565d4_ex5-1img001.jpg" ALT="">&nbsp;</TD>
  <TD STYLE="width: 20%">1114 Avenue of the Americas<BR>
  23rd Floor<BR>
  New York, New York<BR>
  10036.7703 USA&nbsp;<BR>
  <FONT STYLE="font-size: 10pt">Tel</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">212.880.6000</FONT>&nbsp;<BR>
  <FONT STYLE="font-size: 10pt">Fax</FONT><FONT STYLE="font-size: 5pt">&nbsp;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">212.682.0200</FONT>&nbsp;<BR>
  www.torys.com</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">May&nbsp;31, 2024</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">Brookfield Infrastructure Partners
L.P.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">73 Front Street, 5<SUP>th</SUP> Floor&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">Hamilton, HM 12, Bermuda</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">Brookfield Infrastructure Finance ULC&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">4600-525 8th Avenue S.W.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">Calgary, Alberta, Canada T2P 1G1</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">Brookfield Infrastructure L.P.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">73 Front Street, 5<SUP>th</SUP> Floor&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">Hamilton, HM 12, Bermuda</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">BIP Bermuda Holdings I Limited&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">73 Front Street, 5<SUP>th</SUP> Floor&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">Hamilton, HM 12, Bermuda</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">Brookfield Infrastructure Holdings
(Canada) Inc.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Suite&nbsp;100, 181 Bay Street&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">Toronto, Ontario, Canada M5J 2T3</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">Brookfield Infrastructure LLC&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">Brookfield Place&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">250 Vesey Street, 15<SUP>th</SUP> Floor&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">New York, New York, United States 10281-1023</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">BIPC Holdings Inc.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">Suite&nbsp;100, 181 Bay Street&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">Toronto, Ontario, Canada M5J 2T3</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-size: 10pt"><B>RE: </B></FONT><B>Brookfield
Infrastructure Finance ULC &ndash; 7.250% Subordinated Notes due 2084 Guaranteed by Brookfield Infrastructure Partners L.P. and the other
Guarantors (as defined below)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Automatic Shelf Registration Statement on Form&nbsp;F-3ASR
(File Nos. 333-278529, 333-278529-01, 333-278529-02, 333-278529-03, 333-278529-04, 333-278529-05 and 333-278529-06)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Ladies and Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have acted as special New
York, Ontario and Alberta counsel for Brookfield Infrastructure Partners L.P., an exempted limited partnership organized under the laws
of Bermuda (&ldquo;<B>BIP&rdquo;</B>), Brookfield Infrastructure Finance ULC, an unlimited liability company organized under the laws
of Alberta, Canada (&ldquo;<B>Finco</B>&rdquo;), Brookfield Infrastructure L.P., an exempted limited partnership organized under the laws
of Bermuda (&ldquo;<B>BILP</B>&rdquo;), BIP Bermuda Holdings I Limited, a Bermuda exempted company (&ldquo;<B>Bermuda Holdco</B>&rdquo;),
Brookfield Infrastructure Holdings (Canada) Inc., a corporation organized under the laws of Ontario, Canada (&ldquo;<B>Can Holdco</B>&rdquo;),
Brookfield Infrastructure LLC, a Delaware limited liability company (&ldquo;<B>BI LLC</B>&rdquo;) and BIPC Holdings Inc., a corporation
organized under the laws of Ontario, Canada (&ldquo;<B>BIPC Holdings</B>&rdquo;, and together with BIP, BILP, Bermuda Holdco, Can Holdco
and BI LLC, the &ldquo;<B>Guarantors</B>&rdquo; and together with Finco, the &ldquo;<B>Registrants</B>&rdquo;) in connection with the
offering by Finco of US$150,000,000 aggregate principal amount of its 7.250% Subordinated Notes due 2084 (the &ldquo;<B>Notes</B>&rdquo;),
guaranteed, on a subordinated basis, by the Guarantors (the &ldquo;<B>Guarantees</B>&rdquo; and together with the Notes, the &ldquo;<B>Securities</B>&rdquo;),
pursuant to a prospectus supplement, dated as of May&nbsp;29, 2024 (the &ldquo;<B>Prospectus Supplement</B>&rdquo;) filed with the U.S.
Securities and Exchange Commission (the &ldquo;<B>Commission</B>&rdquo;) pursuant to Rule&nbsp;424(b)(5)&nbsp;under the U.S. Securities
Act of 1933, as amended (the &ldquo;<B>Securities Act</B>&rdquo;) to the Registration Statement on Form&nbsp;F-3ASR (File Nos. 333-278529,
333-278529-01, 333-278529-02, 333-278529-03, 333-278529-04, 333-278529-05 and 333-278529-06) (the &ldquo;<B>Registration Statement</B>&rdquo;).
The Securities are to be sold pursuant to the underwriting agreement, dated as of May&nbsp;29, 2024 (the &ldquo;<B>Underwriting Agreement</B>&rdquo;)
among Finco, the Guarantors and the underwriters named therein (the &ldquo;<B>Underwriters</B>&rdquo;), and issued pursuant to the provisions
of the indenture, dated as of May&nbsp;24, 2021 (the &ldquo;<B>Base Indenture</B>&rdquo;) among Finco as the issuer, BIP and the other
guarantors party thereto, as guarantors, Computershare Trust Company of Canada (the &ldquo;<B>Canadian Trustee</B>&rdquo;) and Computershare
Trust Company N.A. (the &ldquo;<B>U.S. Trustee</B>&rdquo; and together with the Canadian Trustee, the &ldquo;<B>Trustees</B>&rdquo;),
and the Second Supplemental Indenture thereto, dated as of May&nbsp;31, 2024 (the &ldquo;<B>Supplemental Indenture</B>&rdquo; and together
with the Base Indenture, the &ldquo;<B>Indenture</B>&rdquo;) among Finco, the Guarantors and the Trustees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We, as your counsel, have
examined originals or copies of such documents, corporate records, certificates of public officials and other instruments as we have deemed
necessary or advisable for the purpose of rendering this opinion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In rendering the opinions
expressed herein, we have, without independent inquiry or investigation, assumed that (i)&nbsp;all documents submitted to us as originals
are authentic and complete, (ii)&nbsp;all documents submitted to us as copies conform to authentic, complete originals, (iii)&nbsp;all
signatures on all documents that we reviewed are genuine, (iv)&nbsp;all natural persons executing documents had and have the legal capacity
to do so, (v)&nbsp;all statements in certificates of public officials and directors, as the case may be, and officers of the Registrants
(including the general partner of BIP) that we reviewed were and are accurate, (vi)&nbsp;all representations made by the Registrants as
to matters of fact in the documents that we reviewed were and are accurate, and (vii)&nbsp;the Indenture has been duly authorized, executed
and delivered by, and represents a legal, valid and binding obligation of, the Trustees. We have also assumed that each of BIP, BILP and
Bermuda Holdco (i)&nbsp;is validly existing, (ii)&nbsp;has the requisite power to enter into the Indenture, (iii)&nbsp;has duly authorized
entering into the Indenture and (iv)&nbsp;has duly executed and delivered the Indenture, in each case, under the laws of Bermuda.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Based upon the foregoing,
and subject to the additional assumptions and qualifications set forth below, we advise you that, in our opinion, when the Notes have
been duly executed and authenticated in accordance with the provisions of the Indenture and delivered to and paid for by the Underwriters
pursuant to the Underwriting Agreement, the Notes will constitute valid and binding obligations of Finco, and the Guarantees thereof will
constitute valid and binding obligations of the Guarantors, enforceable in accordance with their terms, subject to applicable bankruptcy,
insolvency and similar laws affecting creditors&rsquo; rights generally, concepts of reasonableness and equitable principles of general
applicability, provided that we express no opinion as to (x)&nbsp;the enforceability of any waiver of rights under any usury or stay law
or (y)&nbsp;the effect of fraudulent conveyance, fraudulent transfer or similar provisions of applicable law on the conclusions expressed
above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In connection with the opinion
expressed above, we have assumed that at or prior to the time of the delivery of any Securities, (i)&nbsp;the effectiveness of the Registration
Statement under the Securities Act has not been terminated or rescinded; (ii)&nbsp;the Indenture remains qualified under the Trust Indenture
Act of 1939, as amended (the &ldquo;<B>Trust Indenture Act</B>&rdquo;); (iii)&nbsp;all corporate or other action required to be taken
to duly authorize each proposed issuance of the Securities and any related documentation shall have been duly completed by the Guarantors
(other than Can Holdco, BI LLC and BIPC Holdings), and shall remain in full force and effect; (iv)&nbsp;the Indenture and the Securities
are each valid, binding and enforceable agreements of each party thereto (other than as expressly covered above in respect of Finco and
the Guarantors); and (v)&nbsp;there shall not have occurred any change in law affecting the validity or enforceability of the Securities.
We have also assumed that the execution, delivery and performance by Finco and the Guarantors of any Securities (a)&nbsp;require no action
by or in respect of, or filing with, any governmental body, agency or official, except as has been obtained under the Securities Act and
the Trust Indenture Act; and (b)&nbsp;do not contravene, or constitute a default under, any provision of applicable law or regulation
(although, for greater certainty, we have not made any such assumptions with respect to the Applicable Laws (as defined below)) or any
judgment, injunction, order or decree or any agreement or other instrument binding upon Finco and the Guarantors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We are qualified to practice
law in the Province of Alberta, the Province of Ontario and the State of New York, and we do not express any opinion with respect to the
laws of any jurisdiction other than (a)&nbsp;the laws of the Province of Alberta, (b)&nbsp;the laws of the Province of Ontario, (c)&nbsp;the
laws of the State of New York and (d)&nbsp;the Delaware Limited Liability Company Act (the &ldquo;<B>DLLCA</B>&rdquo;), in each case,
in force at the date of this opinion letter (collectively, the &ldquo;<B>Applicable Laws</B>&rdquo;). Notwithstanding the foregoing and
our opinions above, we express no opinion with respect to the compliance or non-compliance with applicable privacy laws in connection
with the Indenture or the Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">All opinions expressed in
this letter concerning the laws of the Province of Ontario have been given by members of the Law Society of Ontario. For purposes of the
above-mentioned opinions concerning the laws of the Province of Alberta, such opinions have been given by members of The Law Society of
Alberta. For purposes of the above-mentioned opinions concerning the laws of the State of New York and the DLLCA, such opinions have been
given by members of the New York State Bar.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We hereby consent to the reference
to our name under the caption &ldquo;Certain Canadian Federal Income Tax Considerations&rdquo; in the Prospectus Supplement, which is
a part of the Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We also hereby consent to
the filing of this opinion letter as an exhibit to a report on Form&nbsp;6-K to be filed by BIP on the date hereof and its incorporation
by reference into the Registration Statement as an exhibit thereto and further consent to the reference to our name under the caption
 &ldquo;Legal Matters&rdquo; in the Prospectus Supplement, which is a part of the Registration Statement. In giving this consent, we do
not admit that we are in the category of persons whose consent is required under Section&nbsp;7 of the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Very truly yours,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">/s/ Torys LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<DOCUMENT>
<TYPE>EX-5.2
<SEQUENCE>7
<FILENAME>tm2415565d4_ex5-2.htm
<DESCRIPTION>EXHIBIT 5.2
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right"><B>Exhibit 5.2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; margin-top: 0pt; margin-bottom: 0pt"><IMG SRC="tm2415565d4_ex5-2img001.jpg" ALT="">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-align: justify"><B>Brookfield Infrastructure Partners L.P.</B> <BR>
    <B>Brookfield Infrastructure L.P.</B> <BR>
    <B>BIP Bermuda Holdings I Limited</B> <BR>
    73 Front Street <BR>
    Hamilton Bermuda <BR>
    HM 11 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</TD>
    <TD STYLE="width: 50%; text-align: right"><B>Email</B>&nbsp; CLangley@applebyglobal.com &nbsp; <BR>
    <BR>
    <B>Direct Dial&nbsp;</B> +1 441 298 3202 &nbsp; <BR> <BR> <BR></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: right"><P STYLE="margin-top: 0; margin-bottom: 0"><B>Appleby Ref&nbsp;</B> 136873.0052/CL/AK<BR>
<BR>
<B>By Email
and Courier</B><BR>
31 May&nbsp;2024&nbsp;</P></TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="font-size: 10pt; text-align: justify"></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Bermuda Office</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Appleby (Bermuda)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Limited</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Canon's Court</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>22 Victoria Street</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>PO Box HM 1179</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Hamilton HM EX</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Bermuda</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Tel +1 441 295 2244</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Fax +1 441 292 8666</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>applebyglobal.com</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Ladies and Gentlemen</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Prospectus Supplement relating to Registration Statement on Form&nbsp;F-3ASR</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">We have acted as legal advisers as to matters of Bermuda law to Brookfield Infrastructure Partners L.P., an exempted limited partnership formed under the laws of Bermuda (<B>BIP</B>), acting by its general partner, Brookfield Infrastructure Partners Limited, a Bermuda exempted company (<B>BIPL</B>), and Brookfield Infrastructure L.P., an exempted limited partnership formed under the laws of Bermuda (<B>BILP</B>), acting by its managing general partner, BIP, itself acting by its general partner, BIPL, and BIP Bermuda Holdings I Limited (<B>Holdings</B>). We have been requested to render this opinion in connection with the joint filing by, inter alios, BIP, BILP and Holdings, of the Prospectus Supplement (as defined below) relating to the Offering (as defined below). In connection therewith, we have reviewed:</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD>
    <TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: justify">an automatic shelf registration statement on Form&nbsp;F-3ASR (<B>Registration Statement</B>) for the
purpose of registering under the U.S. Securities Act of 1933, as amended (<B>Securities Act</B>), among other securities, (a)&nbsp;debt
securities (<B>Debt Securities</B>) which may be issued by Brookfield Infrastructure Finance ULC, a Canadian indirect consolidated subsidiary
of BIP (<B>Issuer</B>), and guarantees of such Debt Securities which may be issued by, inter alios, BIP, BILP and Holdings, such Debt
Securities and guarantees thereof to be issued pursuant to the indenture dated as of 24 May&nbsp;2021, by and among the Issuer, as issuer,
BIP, BILP, Holdings and the other guarantors party thereto, as guarantors, and Computershare Trust Company, N.A. (<B>U.S. Trustee</B>)
and Computershare Trust Company of Canada (<B>Canadian Trustee, </B>and together with the U.S. Trustee,&nbsp;<B>Trustees</B>), as trustees,
as supplemented from time to time (<B>Base Indenture</B>); and (b)&nbsp;Class&nbsp;A preferred limited partnership units of BIP;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">2.</TD><TD STYLE="text-align: justify">the base prospectus, dated as of 5 April&nbsp;2024, contained in the Registration Statement (<B>Prospectus</B>);</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Bermuda&nbsp;&nbsp;
 &#9632; &nbsp;&nbsp;British Virgin Islands &nbsp;&nbsp; &#9632; &nbsp;Cayman Islands&nbsp;&nbsp; &#9632; &nbsp;Guernsey&nbsp;&nbsp;
 &#9632; &nbsp;Hong Kong&nbsp;&nbsp;
 &#9632; &nbsp;Isle of Man&nbsp;&nbsp;
 &#9632; &nbsp;Jersey&nbsp;&nbsp;
 &#9632; &nbsp;Mauritius&nbsp;&nbsp;
 &#9632; &nbsp;Seychelles</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">3.</TD><TD STYLE="text-align: justify">a prospectus supplement dated 29 May&nbsp;2024 (<B>Prospectus Supplement</B>) to the Prospectus used in
connection with the offering (<B>Offering</B>) of (a)&nbsp;unsecured 7.250% subordinated notes due 2084 of the Issuer (<B>Notes</B>),
as described in the Prospectus Supplement and as established in a second supplemental indenture to the Base Indenture entered into by
and among the Issuer, as issuer, BIP, BILP, Bermuda and the other guarantors party thereto, as guarantors, and Trustees, as trustees (<B>Supplemental
Indenture,</B>&nbsp;and together with the Base Indenture,&nbsp;<B>Indenture</B>); (b)&nbsp;guarantees of the Notes by BIP, BILP, Holdings
and the other guarantors as described in the Prospectus Supplement and as provided in the Indenture (<B>Guarantees</B>); and (c)&nbsp;Class&nbsp;A
preferred limited partnership units, Series<B>&nbsp;</B>16, of BIP to be issued upon automatic exchange of the Notes upon occurrence of
certain events as described in the Prospectus Supplement (<B>Preferred Units</B>, and together with the Notes and the Guarantees, <B>Securities</B>),
which series will be established by the Sixth Amendment to BIP&rsquo;s Amended and Restated Limited Partnership Agreement dated 31 May&nbsp;2024
(<B>LPA Amendment</B>); and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">4.</TD><TD STYLE="text-align: justify">a term sheet relating to the Securities dated 29 May&nbsp;2024 (<B>Term Sheet</B>) which has been filed
as a &ldquo;free writing prospectus&rdquo; within the meaning of Rule&nbsp;405 under the U.S. Securities Act of 1933, as amended (<B>Securities
Act</B>), relating to the Offering,</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">each of which has been filed with the Securities and Exchange
Commission (<B>SEC</B>).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Note that BIPL acting as general partner of BIP and BIP acting
as the managing general partner of BILP may be referred to as the <B>General Partner(s)</B>&nbsp;and BIP and BILP may be referred to
as the <B>Partnership(s)</B>&nbsp;in this opinion. Note that the General Partners, the Partnerships and Holdings may be referred to as
the <B>Bermuda Entities</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">For the purposes of this opinion we have examined and relied
upon the documents listed (which in some cases, are also defined) in the Schedule to this opinion (<B>Documents</B>).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"><B>ASSUMPTIONS</B></TD><TD STYLE="text-align: justify"></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">In stating our opinion we have assumed:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: justify">the authenticity, accuracy and completeness of all Documents submitted to us as originals and the conformity
to authentic original Documents of all Documents submitted to us as certified, conformed, notarised or photostatic copies;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">2.</TD><TD STYLE="text-align: justify">the genuineness of all signatures on the Documents, as applicable;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">3.</TD><TD STYLE="text-align: justify">the authority, capacity and power of persons signing the Documents, as applicable;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">Bermuda&nbsp;&nbsp;
 &#9632; &nbsp;&nbsp;British Virgin Islands &nbsp;&nbsp; &#9632; &nbsp;Cayman Islands&nbsp;&nbsp; &#9632; &nbsp;Guernsey&nbsp;&nbsp;
 &#9632; &nbsp;Hong Kong&nbsp;&nbsp;
 &#9632; &nbsp;Isle of Man&nbsp;&nbsp;
 &#9632; &nbsp;Jersey&nbsp;&nbsp;
 &#9632; &nbsp;Mauritius&nbsp;&nbsp;
 &#9632; &nbsp;Seychelles</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">4.</TD><TD STYLE="text-align: justify">that any representation, warranty or statement of fact or law, other than the laws of Bermuda made in
any of the Documents, is true, accurate and complete;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">5.</TD><TD STYLE="text-align: justify">that there are no provisions of the laws or regulations of any jurisdiction other than Bermuda which would
have any implication in relation to the opinions expressed herein;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">6.</TD><TD STYLE="text-align: justify">that where incomplete documents, drafts or signature pages&nbsp;only have been supplied to us for the
purposes of issuing this opinion, the original documents have been or will be duly completed and correspond in all material respects with
the last version of the relevant documents examined by us prior to giving our opinion;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">7.</TD><TD STYLE="text-align: justify">that the Documents do not differ in any material respects from any forms or drafts of the same which we
have examined and upon which this opinion is based;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">8.</TD><TD STYLE="text-align: justify">that the Documents are in the form of the documents approved in the Resolutions;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">9.</TD><TD STYLE="text-align: justify">that there are no provisions of the laws or regulations of any jurisdiction other than Bermuda which would
be contravened by any actions taken by the Bermuda Entities in connection with the Registration Statement, the Securities, the Indenture,
the Prospectus Supplement or the Term Sheet, or which would have any implication in relation to the opinion expressed herein and that,
in so far as any obligation under, or action to be taken under, the Registration Statement, the Securities, the Indenture, the Prospectus
Supplement or the Term Sheet is required to be performed or taken in any jurisdiction outside Bermuda, the performance of such obligation
or the taking of such action will constitute a valid and binding obligation of each of the parties thereto under the laws of that jurisdiction
and will not be illegal by virtue of the laws of that jurisdiction;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">10.</TD><TD STYLE="text-align: justify">the accuracy, completeness and currency of the records and filing systems maintained at the public offices
where we have searched or enquired or have caused searches or enquiries to be conducted, that such search and enquiry did not fail to
disclose any information which had been filed with or delivered to the relevant body but had not been processed at the time when the search
was conducted and the enquiries were made, and that the information disclosed by the Company and Partnership Searches, Registry General
Searches and the Litigation Search is accurate and complete in all respects and such information has not been materially altered since
the date and time of the Company and Partnership Searches, Registry General Searches and the Litigation Search; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">Bermuda&nbsp;&nbsp;
 &#9632; &nbsp;&nbsp;British Virgin Islands &nbsp;&nbsp; &#9632; &nbsp;Cayman Islands&nbsp;&nbsp; &#9632; &nbsp;Guernsey&nbsp;&nbsp;
 &#9632; &nbsp;Hong Kong&nbsp;&nbsp;
 &#9632; &nbsp;Isle of Man&nbsp;&nbsp;
 &#9632; &nbsp;Jersey&nbsp;&nbsp;
 &#9632; &nbsp;Mauritius&nbsp;&nbsp;
 &#9632; &nbsp;Seychelles</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">11.</TD><TD STYLE="text-align: justify">the terms and transactions contemplated by the Prospectus Supplement or the Indenture adopted are not
inconsistent with the applicable Resolutions and the terms and transactions contemplated by the Prospectus and the Registration Statement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in; text-align: justify"><B>OPINION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Based upon and subject to the foregoing
and subject to the reservations set out below and to any matters not disclosed to us, we are of the opinion that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: justify">Each Partnership is an exempted limited partnership formed and existing under the laws of Bermuda. Each
Partnership possesses the capacity to sue and be sued in its own name and is in good standing under the laws of Bermuda. All suits in
respect of the business of each Partnership shall be prosecuted by and against its respective general partner(s).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">2.</TD><TD STYLE="text-align: justify">Each of BIPL and Holdings is an exempted company limited by shares and duly incorporated in Bermuda under
the Companies Act 1981, each possessing the capacity to sue and be sued in its own name, and is validly existing and in good standing
under the laws of Bermuda.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">3.</TD><TD STYLE="text-align: justify">The execution, delivery and performance of the Supplemental Indenture, the Notes and the LPA Amendment,
and the performance of the Indenture, as applicable, by each General Partner on behalf of the applicable Partnership, and the transactions
contemplated thereby (including the Offering), have been duly authorised by all necessary corporate action by each General Partner on
behalf of the applicable Partnership, as applicable.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in; text-align: justify"><B>RESERVATIONS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">We have the following reservations:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: justify">In opinion paragraphs 1. and 2. above, the term &quot;good standing&quot; means only that the Bermuda
Entities have each received a Certificate of Compliance from the Registrar of Companies in Hamilton Bermuda which confirms that they have
neither failed to make any filing with any Bermuda governmental authority nor to pay any Bermuda government fee or tax, which might make
it liable to be struck off the Register of Companies and thereby cease to exist under the laws of Bermuda.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">2.</TD><TD STYLE="text-align: justify">We express no opinion as to any law other than Bermuda law and none of the opinions expressed herein relates
to compliance with or matters governed by the laws of any jurisdiction except Bermuda. This opinion is limited to Bermuda law as applied
by the courts of Bermuda at the date hereof.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">Bermuda&nbsp;&nbsp;
 &#9632; &nbsp;&nbsp;British Virgin Islands &nbsp;&nbsp; &#9632; &nbsp;Cayman Islands&nbsp;&nbsp; &#9632; &nbsp;Guernsey&nbsp;&nbsp;
 &#9632; &nbsp;Hong Kong&nbsp;&nbsp;
 &#9632; &nbsp;Isle of Man&nbsp;&nbsp;
 &#9632; &nbsp;Jersey&nbsp;&nbsp;
 &#9632; &nbsp;Mauritius&nbsp;&nbsp;
 &#9632; &nbsp;Seychelles</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">3.</TD><TD STYLE="text-align: justify">Where an obligation is to be performed in a jurisdiction other than Bermuda, the courts of Bermuda may
refuse to enforce it to the extent that such performance would be illegal under the laws of, or contrary to public policy of such other
jurisdiction.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">4.</TD><TD STYLE="text-align: justify">Where a person is vested with a discretion or may determine a matter in his or its opinion, such discretion
may have to be exercised reasonably or such an opinion may have to be based on reasonable grounds.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">5.</TD><TD STYLE="text-align: justify">Any provision in any Indenture that certain calculations or certificates will be conclusive and binding
will not be effective if such calculations or certificates are fraudulent or erroneous on their face and will not necessarily prevent
juridical enquiries into the merits of any claim by an aggrieved party.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">6.</TD><TD STYLE="text-align: justify">Any reference in this opinion to Units being &quot;non-assessable&quot; shall mean, in relation to fully-paid
Units of BIP and subject to any contrary provision in any agreement in writing between BIP and the holder of Units, that: no holder shall
be obliged to contribute further amounts to the capital of BIP, either in order to complete payment for their Units, to satisfy claims
of creditors of BIP, or otherwise.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">7.</TD><TD STYLE="text-align: justify">The Limited Partnership Act 1883 (the <B>Act</B>) provides that a limited partner shall be liable as a
general partner if he takes part in the management of the partnership.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">8.</TD><TD STYLE="text-align: justify">A limited partner is liable to a Partnership, or to its creditors, for any amount in respect of such limited
partner&rsquo;s contribution to such Partnership to the extent such contribution has not been contributed in full, or to the extent such
contribution is either released or returned to the limited partner contrary to the restrictions on reductions of capital contained in
the Act.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">9.</TD><TD STYLE="text-align: justify">A limited partner is liable for damages on account of misrepresentation in respect of false statements
contained in the certificate of limited partnership, any supplementary certificates or certificate of cancellation in respect of the Partnership,
to the extent a limited partner signed such certificate, or caused another to sign it on his/her behalf, and knew such statement to be
false at the time of signature.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">10.</TD><TD STYLE="text-align: justify">Every partner of the Partnership who is guilty of any fraud in the affairs of the Partnership shall be
liable civilly to the party injured to the extent of his damage and shall be liable for penalties applicable to offences committed against
the Act.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">11.</TD><TD STYLE="text-align: justify">With respect to opinion 3, we have relied upon statements and representations made to us in the Officers&rsquo;
Certificates provided to us by an authorised officer of each of BIPL and Holdings for the purposes of this opinion. We have made no independent
verification of the matters referred to in the Officers&rsquo; Certificates, and we qualify such opinion to the extent that the statements
or representations made in the Officers&rsquo; Certificates are not accurate in any respect.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">Bermuda&nbsp;&nbsp;
 &#9632; &nbsp;&nbsp;British Virgin Islands &nbsp;&nbsp; &#9632; &nbsp;Cayman Islands&nbsp;&nbsp; &#9632; &nbsp;Guernsey&nbsp;&nbsp;
 &#9632; &nbsp;Hong Kong&nbsp;&nbsp;
 &#9632; &nbsp;Isle of Man&nbsp;&nbsp;
 &#9632; &nbsp;Jersey&nbsp;&nbsp;
 &#9632; &nbsp;Mauritius&nbsp;&nbsp;
 &#9632; &nbsp;Seychelles</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">12.</TD><TD STYLE="text-align: justify">In order to issue this opinion we have carried out the Company and Partnership Searches as referred to
in the Schedule and have not enquired as to whether there has been any change since the date of such searches.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">13.</TD><TD STYLE="text-align: justify">In order to issue this opinion we have carried out the Litigation Search as referred to in the Schedule
and have not enquired as to whether there has been any change since the date of such search.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">14.</TD><TD STYLE="text-align: justify">Searches of the Register of Companies at the office of the Registrar of Companies and of the Supreme Court
Causes Book at the Registry of the Supreme Court and of the Register of Mortgages maintained at the office of the Registry General are
not conclusive and it should be noted that the Register of Companies and the Supreme Court Causes Book do not reveal:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">14.1</TD><TD STYLE="text-align: justify">Details of matters which have been lodged for filing or registration which as a matter of best practice
of the Registrar of Companies or the Registry of the Supreme Court or the Registry General would have or should have been disclosed on
the public file, the Causes Book or the Judgment Book or the Register of Mortgages, as the case may be, but for whatever reason have not
actually been filed or registered or are not disclosed or which, notwithstanding filing or registration, at the date and time the search
is concluded are for whatever reason not disclosed or do not appear on the public file, the Causes Book, Judgment Book or the Register
of Mortgages;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">14.2</TD><TD STYLE="text-align: justify">Details of matters which should have been lodged for filing or registration at the Registrar of Companies,
the Registry of the Supreme Court or the Registry General but have not been lodged for filing or registration at the date the search is
concluded;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">14.3</TD><TD STYLE="text-align: justify">Whether an application to the Supreme Court for a winding-up petition or for the appointment of a receiver
or manager has been prepared but not yet been presented or has been presented but does not appear in the Causes Book at the date and time
the search is concluded;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">14.4</TD><TD STYLE="text-align: justify">Whether any arbitration or administrative proceedings are pending or whether any proceedings are threatened,
or whether any arbitrator has been appointed; or</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">14.5</TD><TD STYLE="text-align: justify">Whether a receiver or manager has been appointed privately pursuant to the provisions of a debenture or
other security, unless notice of the fact has been entered in the Register of Charges in accordance with the provisions of the Act.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">Bermuda&nbsp;&nbsp;
 &#9632; &nbsp;&nbsp;British Virgin Islands &nbsp;&nbsp; &#9632; &nbsp;Cayman Islands&nbsp;&nbsp; &#9632; &nbsp;Guernsey&nbsp;&nbsp;
 &#9632; &nbsp;Hong Kong&nbsp;&nbsp;
 &#9632; &nbsp;Isle of Man&nbsp;&nbsp;
 &#9632; &nbsp;Jersey&nbsp;&nbsp;
 &#9632; &nbsp;Mauritius&nbsp;&nbsp;
 &#9632; &nbsp;Seychelles</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"><B>DISCLOSURE</B></TD><TD STYLE="text-align: justify"></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This opinion is addressed to you in connection
with the registration of the Units with the SEC and is not to be used, quoted or relied upon for any other purpose. We consent to the
filing of this opinion as an exhibit to the Registration Statement of the Partnership.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This opinion is governed by and is to be construed
in accordance with Bermuda law. Further, this opinion speaks as of its date and is strictly limited to the matters stated in it and we
assume no obligation to review or update this opinion if applicable law or the existing acts or circumstances should change.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Yours faithfully</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">/s/ Appleby (Bermuda) Limited</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Appleby (Bermuda) Limited</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">Bermuda&nbsp;&nbsp;
 &#9632; &nbsp;&nbsp;British Virgin Islands &nbsp;&nbsp; &#9632; &nbsp;Cayman Islands&nbsp;&nbsp; &#9632; &nbsp;Guernsey&nbsp;&nbsp;
 &#9632; &nbsp;Hong Kong&nbsp;&nbsp;
 &#9632; &nbsp;Isle of Man&nbsp;&nbsp;
 &#9632; &nbsp;Jersey&nbsp;&nbsp;
 &#9632; &nbsp;Mauritius&nbsp;&nbsp;
 &#9632; &nbsp;Seychelles</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SCHEDULE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: justify">The electronic extract provided in respect of each Bermuda Entity by the office of the Registrar of Companies
on 30 May&nbsp;2024 (<B>Company and Partnership Searches</B>).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">2.</TD><TD STYLE="text-align: justify">The response provided in respect of General Partners and/or each Partnership by the office of the Registry
General on 30 May&nbsp;2024 (<B>Registry General Searches</B>).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">3.</TD><TD STYLE="text-align: justify">The entries and filings shown and available for inspection in respect of the Bermuda Entities in the Cause
and Judgment Books of the Supreme Court Causes Book maintained at the Registry of the Supreme Court in Hamilton, Bermuda, as revealed
by searches conducted on 30 May&nbsp;2024 (<B>Litigation Search</B>).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">4.</TD><TD STYLE="text-align: justify">Certified copies of the following documents in respect of BIP: the Certificate of Registration of an Exempted
and Limited Partnership effective 13 June&nbsp;2007 and supplements thereto; the Amended and Restated Limited Partnership Agreement of
BIP dated 16 February&nbsp;2018, the First Amendment to the Amended and Restated Limited Partnership Agreement dated 12 September&nbsp;2018,
the Second Amendment to the Amended and Restated Limited Partnership Agreement dated 27 February&nbsp;2020, the Third Amendment to the
Amended and Restated Limited Partnership Agreement dated 21 September&nbsp;2020, the Fourth Amendment to the Amended and Restated Limited
Partnership Agreement dated 21 January&nbsp;2021, the Fifth Amendment to the Amended and Restated Limited Partnership Agreement dated
24 May&nbsp;2021 and the Sixth Amendment to the Amended and Restated Limited Partnership Agreement dated 31 May&nbsp;2024 (collectively,
<B>BIP Partnership Documents</B>).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">5.</TD><TD STYLE="text-align: justify">Certified copies of the following documents in respect of BILP: a copy of the Certificate of Registration
of an Exempted and Limited Partnership effective 28 August&nbsp;2007 and supplements thereto; and a copy of the Amended and Restated Limited
Partnership Agreement of BILP dated 16 February&nbsp;2018, the First Amendment to the Amended and Restated Limited Partnership Agreement
dated 12 September&nbsp;2018, the Second Amendment to the Amended and Restated Limited Partnership Agreement dated 1 August&nbsp;2019
(effective 30 November&nbsp;2018), the Third Amendment to the Amended and Restated Limited Partnership Agreement dated 27 February&nbsp;2020,
the Fourth Amendment to the Amended and Restated Limited Partnership Agreement dated 31 March&nbsp;2020, the Fifth Amendment to the Amended
and Restated Limited Partnership Agreement dated 21 September&nbsp;2020, the Sixth Amendment to the Amended and Restated Limited Partnership
Agreement dated 21 January&nbsp;2021, the Seventh Amendment to the Amended and Restated Limited Partnership Agreement dated 24 May&nbsp;2021,
the Eighth Amendment to the Amended and Restated Limited Partnership Agreement dated 10 June&nbsp;2022 and the Ninth Amendment to the
Amended and Restated Limited Partnership Agreement dated 31 May&nbsp;2024 (<B>BILP Partnership Documents</B>, together with the BIP Partnership
Documents, <B>Limited Partnership Documents</B>).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">Bermuda&nbsp;&nbsp;
 &#9632; &nbsp;&nbsp;British Virgin Islands &nbsp;&nbsp; &#9632; &nbsp;Cayman Islands&nbsp;&nbsp; &#9632; &nbsp;Guernsey&nbsp;&nbsp;
 &#9632; &nbsp;Hong Kong&nbsp;&nbsp;
 &#9632; &nbsp;Isle of Man&nbsp;&nbsp;
 &#9632; &nbsp;Jersey&nbsp;&nbsp;
 &#9632; &nbsp;Mauritius&nbsp;&nbsp;
 &#9632; &nbsp;Seychelles</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">6.</TD><TD STYLE="text-align: justify">Certified copies of the following documents in respect of each of BIPL: Certificate of Incorporation,
memorandum of association and Bye-laws (<B>GP Documents</B>).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">7.</TD><TD STYLE="text-align: justify">Certified copies of the following documents in respect of each of Holdings: Certificate of Incorporation,
memorandum of association and Bye-laws (<B>Holdings Documents</B>, and collectively with the Limited Partnership Documents and the GP
Documents, <B>Constitutional Documents</B>).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">8.</TD><TD STYLE="text-align: justify">Copies of the Minutes of the Meetings of the Board of Directors of BIPL held on each of 29 April&nbsp;2024
and 30 April&nbsp;2024 and of the unanimous written resolutions of the Board of Directors of Holdings effective as of 5 April&nbsp;2024
and as of 16 May&nbsp;2024 (<B>Resolutions</B>).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">9.</TD><TD STYLE="text-align: justify">An officer&rsquo;s certificate signed by an officer of each of BIPL and Holdings dated 31 May&nbsp;2024
(collectively, <B>Officers&rsquo; Certificates</B>).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">10.</TD><TD STYLE="text-align: justify">Certificates of Compliance each dated 30 May&nbsp;2024 issued by the Registrar of Companies in respect
of each Bermuda Entity.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">11.</TD><TD STYLE="text-align: justify">The Registration Statement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">12.</TD><TD STYLE="text-align: justify">The Prospectus.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">13.</TD><TD STYLE="text-align: justify">The Prospectus Supplement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">14.</TD><TD STYLE="text-align: justify">The Term Sheet.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">15.</TD><TD STYLE="text-align: justify">The Base Indenture.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">16.</TD><TD STYLE="text-align: justify">The Supplemental Indenture.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Bermuda&nbsp;&nbsp;
 &#9632; &nbsp;&nbsp;British Virgin Islands &nbsp;&nbsp; &#9632; &nbsp;Cayman Islands&nbsp;&nbsp; &#9632; &nbsp;Guernsey&nbsp;&nbsp;
 &#9632; &nbsp;Hong Kong&nbsp;&nbsp;
 &#9632; &nbsp;Isle of Man&nbsp;&nbsp;
 &#9632; &nbsp;Jersey&nbsp;&nbsp;
 &#9632; &nbsp;Mauritius&nbsp;&nbsp;
 &#9632; &nbsp;Seychelles</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.2
<SEQUENCE>8
<FILENAME>tm2415565d4_ex23-2.htm
<DESCRIPTION>EXHIBIT 23.2
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Exhibit 23.2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="border-top: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Goodmans
    </FONT><FONT STYLE="font-size: 10pt">LLP</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; width: 20%; padding-right: 5.4pt; padding-left: 5.4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Bay Adelaide Centre - West Tower</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">333 Bay Street, Suite&nbsp;3400</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Toronto, Ontario M5H 2S7</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Telephone: 416.979.2211</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Facsimile: 416.979.1234</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">goodmans.ca</FONT></P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">May&nbsp;31, 2024</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">To: The United States Securities and Exchange
Commission (the &ldquo;<B>Commission</B>&rdquo;)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Brookfield Infrastructure Finance ULC (the &ldquo;Company&rdquo;)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We refer to the registration statement on Form&nbsp;F-3ASR
filed by the Company, Brookfield Infrastructure Partners L.P., Brookfield Infrastructure L.P., BIP Bermuda Holdings I Limited, Brookfield
Infrastructure Holdings (Canada) Inc., Brookfield Infrastructure LLC and BIPC Holdings Inc. (File Nos. 333-278529, 333-278529-01, 333-278529-02,
333-278529-03, 333-278529-04, 333-278529-05 and 333-278529-06), which became automatically effective upon filing with the Commission on
April&nbsp;5, 2024.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In connection with the prospectus supplement of
the Company dated May&nbsp;29, 2024, we consent to the reference to our firm&rsquo;s name under the heading &ldquo;Legal Matters&rdquo;,
and consent to the use of our firm&rsquo;s name and reference to our opinion under the heading &ldquo;Certain Canadian Federal Income
Tax Considerations&rdquo;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Yours truly,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">/s/ Goodmans LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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