<SEC-DOCUMENT>0001104659-25-114242.txt : 20251120
<SEC-HEADER>0001104659-25-114242.hdr.sgml : 20251120
<ACCEPTANCE-DATETIME>20251119195002
ACCESSION NUMBER:		0001104659-25-114242
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		7
CONFORMED PERIOD OF REPORT:	20251119
FILED AS OF DATE:		20251120
DATE AS OF CHANGE:		20251119

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
		EIN:				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:		251500666

	BUSINESS ADDRESS:	
		ADDRESS IS A NON US LOCATION: 	YES
		STREET 1:		73 FRONT STREET
		CITY:			HAMILTON
		PROVINCE COUNTRY:   	D0
		BUSINESS PHONE:		441 296-4480

	MAIL ADDRESS:	
		ADDRESS IS A NON US LOCATION: 	YES
		STREET 1:		73 FRONT STREET
		CITY:			HAMILTON
		PROVINCE COUNTRY:   	D0

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Brookfield Infrastructure Corp
		CENTRAL INDEX KEY:			0001788348
		STANDARD INDUSTRIAL CLASSIFICATION:	NATURAL GAS TRANSMISSION & DISTRIBUTION [4923]
		ORGANIZATION NAME:           	01 Energy & Transportation
		EIN:				000000000
		STATE OF INCORPORATION:			A1
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-56727
		FILM NUMBER:		251500667

	BUSINESS ADDRESS:	
		STREET 1:		250 VESEY STREET, 15TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10281
		BUSINESS PHONE:		(212) 417-7000

	MAIL ADDRESS:	
		STREET 1:		250 VESEY STREET, 15TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10281
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>tm2531411d3_6k.htm
<DESCRIPTION>FORM 6-K
<TEXT>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 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: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, D.C. 20549</B></P>

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

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>Form&nbsp;6-K</B></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"><B>REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO
RULE 13a-16 OR 15d-16 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 November&nbsp;2025</B></P>

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

<TABLE CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
<TD STYLE="text-align: center; width: 49%"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Commission File Number: 001-33632</B></FONT></TD>
<TD STYLE="font-size: 10pt; text-align: center; width: 2%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="text-align: center; width: 49%"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Commission file number 000-56727</B></FONT></TD></TR>
<TR>
<TD STYLE="text-align: center">&nbsp;</TD>
<TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="font-size: 14pt">
<TD STYLE="font-size: 14pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 14pt; text-transform: uppercase"><B>Brookfield
Infrastructure Partners L.P.</B></FONT></TD>
<TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="font-size: 14pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 14pt"><B>BROOKFIELD
INFRASTRUCTURE CORPORATION</B></FONT></TD></TR>
<TR>
<TD STYLE="text-align: center">(Exact name of Registrant as specified in its charter)</TD>
<TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="text-align: center">(Exact name of Registrant as specified in its charter)</TD></TR>
<TR>
<TD STYLE="text-align: center">&nbsp;</TD>
<TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR>
<TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>73 Front Street, Fifth
Floor<BR> Hamilton, HM 12<BR> Bermuda</B></FONT></TD>
<TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="text-align: center; vertical-align: top"><B>250 Vesey Street, 15th Floor<BR> New York, New York 10281</B></TD></TR>
<TR>
<TD STYLE="vertical-align: bottom; text-align: center">(Address of principal executive office)</TD>
<TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="text-align: center; vertical-align: top">(Address of principal executive office)</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">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">Form&nbsp;20-F&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&#120;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Form&nbsp;40-F&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&#168;</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">The information contained in Exhibits 1.1, 5.1, 5.2, 23.1 and 23.2
of this Form&nbsp;6-K is incorporated by reference into Brookfield Infrastructure Partners L.P. and Brookfield Infrastructure Corporation&rsquo;s
joint registration statement on Form&nbsp;F-3 (File Nos. 333-278738 and 333-278738-01).</P>

<P STYLE="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>

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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;LIST</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; width: 7%"><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; width: 92%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Title</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: top"><A HREF="tm2531411d3_ex1-1.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif">1.1</FONT></A></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><A HREF="tm2531411d3_ex1-1.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif">Equity Distribution
    Agreement, dated November&nbsp;19, 2025, by and among Brookfield Infrastructure Corporation, Brookfield Infrastructure Partners L.P.,
    RBC Dominion Securities Inc., RBC Capital Markets, LLC, Scotia Capital Inc. and Scotia Capital (USA) Inc.</FONT></A></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: top"><A HREF="tm2531411d3_ex5-1.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif">5.1</FONT></A></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><A HREF="tm2531411d3_ex5-1.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif">Opinion
    of McMillan LLP, dated November&nbsp;19, 2025, relating to certain matters under the laws of British Columbia.</FONT></A></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: top"><A HREF="tm2531411d3_ex5-2.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif">5.2</FONT></A></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><A HREF="tm2531411d3_ex5-2.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif">Opinion
    of Appleby (Bermuda) Limited, dated November&nbsp;19, 2025, relating to certain matters under the laws of Bermuda.</FONT></A></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: top"><A HREF="tm2531411d3_ex5-1.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif">23.1</FONT></A></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><A HREF="tm2531411d3_ex5-1.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif">Consent
    of McMillan LLP (included in Exhibit&nbsp;5.1).</FONT></A></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: top"><A HREF="tm2531411d3_ex5-2.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif">23.2</FONT></A></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><A HREF="tm2531411d3_ex5-2.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif">Consent
    of Appleby (Bermuda) Limited (included in Exhibit&nbsp;5.2).</FONT></A></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: top"><A HREF="tm2531411d3_ex99-1.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif">99.1</FONT></A></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><A HREF="tm2531411d3_ex99-1.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif">Press Release
    dated November&nbsp;19, 2025.</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="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="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase"><B>Brookfield Infrastructure
    Partners L.P.</B></FONT><BR>
    <FONT STYLE="font-family: Times New Roman, Times, Serif">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: 3%">&nbsp;</TD>
    <TD STYLE="width: 47%; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Date: November&nbsp;19, 2025</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">By: </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">/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">Name: 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">Title: Secretary</FONT></TD></TR>
</TABLE>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>BROOKFIELD INFRASTRUCTURE CORPORATION</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="text-align: center; width: 47%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Date: November&nbsp;19, 2025</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">By: </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">/s/ Michael Ryan</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Name: Michael Ryan</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Title: General Counsel and Corporate Secretary</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<DOCUMENT>
<TYPE>EX-1.1
<SEQUENCE>2
<FILENAME>tm2531411d3_ex1-1.htm
<DESCRIPTION>EXHIBIT 1.1
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><B>Exhibit 1.1</B></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>BROOKFIELD INFRASTRUCTURE CORPORATION</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>EQUITY DISTRIBUTION 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">November&nbsp;19, 2025</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">RBC Dominion Securities Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">2nd Floor, North Tower</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Royal Bank Plaza, 200 Bay Street</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Toronto, Ontario M5J 2W7</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">30 Hudson Street, 28th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Jersey City, New Jersey 07302-469</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">40 Temperance Street, 6th Floor</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Canada M5H 0B4</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Scotia Capital (USA) Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">250 Vesey Street</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New York, New York 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; text-align: justify">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">Brookfield Infrastructure
Corporation, a corporation organized under the laws of British Columbia, Canada (the &ldquo;<U>Company</U>&rdquo;), confirms its agreement
(this &ldquo;<U>Agreement</U>&rdquo;) with RBC Dominion Securities Inc. and Scotia Capital Inc. (together, the &ldquo;<U>Canadian Agents</U>&rdquo;),
and RBC Capital Markets, LLC and Scotia Capital (USA) Inc. (together, the &ldquo;<U>U.S. Agents</U>&rdquo;, and together with the Canadian
Agents, the &ldquo;<U>Agents</U>&rdquo;) with respect to the issuance and sale from time to time by the Company of class A exchangeable
subordinate voting shares in the capital of the Company, exchangeable at the option of the holder for one non-voting limited partnership
unit (each, a &ldquo;<U>Unit</U>&rdquo; and collectively, the &ldquo;<U>Units</U>&rdquo;) of Brookfield Infrastructure Partners L.P.,
a limited partnership existing under the laws of Bermuda and the indirect parent of the Company (the &ldquo;<U>Partnership</U>&rdquo;)
(subject to adjustment to reflect certain capital events) or its cash equivalent (the form of payment to be determined at the election
of the Company) (the &ldquo;<U>Exchangeable Shares</U>&rdquo; and the Exchangeable Shares to be issued and sold by the Company pursuant
to the terms hereof, the &ldquo;<U>Shares</U>&rdquo;), having an aggregate offering price of up to $400,000,000 (the &ldquo;<U>Maximum
Amount</U>&rdquo;) through or to the Agents, as sales agents, on the terms and subject to the conditions set forth in 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; text-align: justify; text-indent: 0.5in">All dollar amounts referred
to herein are expressed in United States dollars and &ldquo;$&rdquo; shall mean United States dollars, except where otherwise indicated.
When determining the aggregate value of the Shares sold, the Company will use the exchange rate posted by the Bank of Canada on the date
the applicable Shares were sold to determine the Canadian dollar equivalent of any Shares sold in consideration for United States dollars.</P>

<P STYLE="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">1.<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Representations
and Warranties</U>. The Company and the Partnership, jointly and severally, represent and warrant to, and agree with, the Agents 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; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Shelf
Procedure Eligibility</I>. Each of the Company and the Partnership meet the eligibility requirements to use the rules&nbsp;and procedures
established under National Instrument 44-101 <I>Short Form&nbsp;Prospectus Distributions </I>and Companion Policy 44-101CP and National
Instrument 44-102 <I>Shelf Distributions </I>(&ldquo;<U>NI 44-102</U>&rdquo;) and Companion Policy 44-102CP (the &ldquo;<U>Shelf Procedures</U>&rdquo;)
and to file a short form prospectus with the securities regulatory authorities (the &ldquo;<U>Canadian Qualifying Authorities</U>&rdquo;)
in each of the provinces and territories of Canada (the &ldquo;<U>Canadian Qualifying Jurisdictions</U>&rdquo;); each of the Company
and the Partnership have prepared and filed a short form base shelf prospectus (in the English and French languages) (the &ldquo;<U>Canadian
Base Prospectus</U>&rdquo;) with the Canadian Qualifying Authorities utilizing the passport system procedures provided for under Multilateral
Instrument 11-102 <I>Passport System </I>and National Policy 11-202 <I>Process for Prospectus Reviews in Multiple Jurisdictions </I>and
have obtained a receipt from Securities Commission in each Canadian Qualifying Jurisdiction (a &ldquo;<U>Receipt</U>&rdquo;) evidencing
the receipt on behalf of the Canadian Qualifying Authorities for the Canadian Base Prospectus; no order suspending the distribution of
the Shares has been issued by any Canadian Qualifying Authority and no proceeding for that purpose has, to each of the Company&rsquo;s
and the Partnership&rsquo;s knowledge, been initiated or threatened by any Canadian Qualifying Authority. With respect to the Shares,
 &ldquo;<U>Canadian Prospectus</U>&rdquo; means the English and French language versions (unless the context indicates otherwise) of the
Canadian Base Prospectus, including all documents incorporated therein by reference and the documents otherwise deemed to be a part thereof
or included therein pursuant to Canadian Securities Laws (as defined herein), including but not limited to, Designated News Releases
(as defined herein), as supplemented by the English and French language versions (unless the context indicates otherwise) of the prospectus
supplement relating to the offering of the Shares (the &ldquo;<U>Canadian Prospectus Supplement</U>&rdquo;) to be filed by each of the
Company and the Partnership with the Canadian Qualifying Authorities in accordance with Canadian Securities Laws; &ldquo;<U>Designated
News Release</U>&rdquo; means a news release disseminated by each of the Company and the Partnership in respect of previously undisclosed
information that, in each of the Company&rsquo;s and the Partnership&rsquo;s determination, constitutes a material fact (as such term
is defined in Canadian Securities Laws) and identified by the Company and the Partnership as a &ldquo;designated news release&rdquo;
in writing on the face page&nbsp;of the version of such news release that is filed by each of the Company and the Partnership on SEDAR+
(as defined herein). The Canadian Prospectus Supplement shall provide that any and all Designated News Releases shall be deemed to be
incorporated by reference in the Canadian Base Prospectus only for the purposes of the distribution of the Shares.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Compliance
with Canadian Securities Laws. </I>Each of the Company and the Partnership is a reporting issuer in each of the Canadian 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 Exchanges (as defined herein). No order, ruling or determination having the
effect of suspending the sale or ceasing the trading of any securities of the Company or the Partnership has been issued or made by any
Securities Commission (as defined herein), any other securities commission, stock exchange or other regulatory authority and no proceedings
for that purpose have been instituted or are pending or, to either the Company&rsquo;s or the Partnership&rsquo;s knowledge, are contemplated
by any such authority. Any request on the part of the Securities Commissions, such other securities commission, or stock exchange or
other regulatory authority for additional information in connection with the transactions contemplated by this Agreement has been complied
with in all material respects. Each copy of the Canadian Base Prospectus and Canadian Prospectus Supplement provided to the Agents by
the Company and the Partnership was, or will be, identical to the version thereof filed electronically by the Company and the Partnership
with the Canadian Qualifying Authorities on SEDAR+.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Incorporated
Documents</I>. The documents incorporated by reference in the Canadian Prospectus when they were filed with the Canadian Qualifying Authorities
conformed in all material respects, to the requirements of the securities acts or similar statutes of the Canadian Qualifying Jurisdictions
and all applicable rules&nbsp;and regulations under such laws, and together with applicable published national, multilateral and local
policy statements, instruments, notices, blanket orders and rulings of the Canadian Qualifying Authorities in each of the Canadian Qualifying
Jurisdictions (collectively, the &ldquo;<U>Canadian Securities Laws</U>&rdquo;); the documents included or incorporated by reference
in the Registration Statement and the U.S. Prospectus (each as defined herein) issued at or prior to the time of the applicable Agent&rsquo;s
initial entry into contracts with investors for the sale of such Shares (&ldquo;<U>Time of Sale</U>&rdquo;), taken together (collectively,
the &ldquo;<U>Disclosure Package</U>&rdquo;), as of the date hereof, at the Effective Date (as defined herein), at each Time of Sale,
at each Representation Date (as defined herein), at each Settlement Date (as defined herein) and at each Amendment Date (as defined herein),
conformed or will conform in all material respects to any applicable requirements of the Securities Exchange Act of 1934, as amended,
and the rules&nbsp;and regulations of the Securities and Exchange Commission (the &ldquo;<U>Commission</U>&rdquo; and, together with
the Canadian Qualifying Authorities, the &ldquo;<U>Securities Commissions</U>&rdquo;) promulgated thereunder (the &ldquo;<U>Exchange
Act</U>&rdquo;); and any further documents so filed and incorporated by reference in the Canadian Prospectus, the Registration Statement,
the Disclosure Package and the U.S. Prospectus or any amendment or supplement thereto, when such documents are filed with the Canadian
Qualifying Authorities or the Commission, will conform in all material respects to the requirements of Canadian Securities Laws or the
Exchange Act, as applicable. Such documents included or incorporated by reference in the Registration Statement prior to each Time of
Sale, when filed with the Commission, did not, and any such documents filed after each Time of Sale, when filed with the Commission,
will not, contain 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 under which they were made, not misleading.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(d)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Independent
Auditor</I>. Deloitte LLP, who has audited the annual financial statements of the Company and the Partnership included or incorporated
by reference in the U.S. Registration Statement, the Prospectuses (as herein defined) and the Disclosure Package, is independent within
the meaning of the Rules&nbsp;of Professional Conduct of the Chartered Professional Accountants of Ontario and is an independent registered
chartered professional accountant, as required by the Securities Act of 1933, as amended, and the rules&nbsp;and regulations of the Commission
promulgated thereunder (the &ldquo;<U>Act</U>&rdquo;). Within the three years preceding the date hereof, there has not been any reportable
event within the meaning of National Instrument 51-102 &mdash; Continuous Disclosure Obligations with Deloitte LLP.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(e)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Financial
Statements</I>. The financial statements of the Company and the Partnership included or incorporated by reference in the Registration
Statement, the Prospectuses and the Disclosure Package, together with the related schedules, if any, and notes, comply as to form, in
all material respects, with the applicable accounting requirements of Applicable Securities Laws and 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 the Company and the Partnership have been prepared in conformity with
International Financial Reporting Standards (&ldquo;<U>IFRS</U>&rdquo;) as issued by the International Accounting Standards Board applied
on a consistent basis throughout the periods involved. The supporting schedules, if any, 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 the Company and the Partnership included or incorporated by reference in the Registration Statement,
the Prospectuses and the Disclosure Package, as applicable, 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 have been compiled on a basis consistent with that of the audited consolidated financial statements included or incorporated by
reference in the Registration Statement, the Prospectuses and the Disclosure Package. There have been no changes in the assets or liabilities
of either the Company or the Partnership from the position thereof as set forth in the consolidated financial statements included or
incorporated by reference in the Registration Statement, the Prospectuses and the Disclosure Package, 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 the Company or the Partnership and except for changes that are disclosed in the Prospectus Supplements and the Disclosure
Package<I>.</I></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(f)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>No
Material Adverse Change in Business. </I>Except as disclosed in the Registration Statement, the Disclosure Package or the Prospectuses,
since the date of the most recent audited financial statements of the Company and the Partnership incorporated by reference therein,
(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 entities listed on Schedule 2 to this Agreement (the &ldquo;<U>Partnership Entities</U>&rdquo;),
taken together as a single enterprise, whether or not arising in the ordinary course of business (a &ldquo;<U>Material Adverse Effect</U>&rdquo;),
(B)&nbsp;there have been no transactions entered into by the Partnership Entities, other than those in the ordinary course of business,
which are material with respect to the Partnership 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 the Company or the Partnership on any class
or series of their respective securities.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(g)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Good
Standing of the Partnership Entities</I>. Each of the Partnership Entities is an entity validly existing as an entity in good standing
under the laws of its jurisdiction of organization, 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 Prospectuses, 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 Partnership Entity 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 Partnership
Entity is owned by such Partnership Entity, 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 Prospectuses. Each Partnership Entity
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 Prospectuses, and all such units or other equity interests owned by such Partnership
Entity 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.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(h)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Capitalization;
Distributions</I>. The authorized capital of the Company consists of an unlimited number
of Exchangeable Shares and an unlimited number of class B shares, of which as at November 18, 2025, 119,069,841 Exchangeable Shares and
31,909 class B shares were issued and outstanding as fully-paid and non-assessable shares of the Company. The authorized capital of the
Partnership consists of an unlimited number of Units, an unlimited number of Class A Preferred Units and an unlimited number of general
partner units. As of November 18, 2025, approximately 461,240,345 Units, (789,152,896 Units assuming the exchange of all redeemable partnership
units of Brookfield Infrastructure L.P., Exchangeable Shares, exchangeable units of Brookfield Infrastructure Corporation Exchange Limited
Partnership, exchangeable units of Brookfield Infrastructure Partners Exchange L.P. and class A.2 exchangeable non-voting shares of Brookfield
Infrastructure Holdings Corporation), 4,989,262 Class A Preferred Units, Series 3, 7,986,595 Class A Preferred Units, Series 9, 9,936,190
Class A Preferred Units, Series 11, 8,000,000 Class A Preferred Units, Series 13 and 8,000,000 Class A Preferred Units, Series 14 were
issued and outstanding as fully-paid and non-assessable units of the Partnership. As of the date hereof, the Partnership has no issued
or outstanding Class A Preferred Units, Series 4, Class A Preferred Units, Series 10, Class A Preferred Units, Series 12, Class A Preferred
Units, Series 15, Class A Preferred Units, Series 16, Class A Preferred Units, Series 17 or Class A Preferred Units, Series 18. All of
the issued and outstanding shares in the capital of the Company and Units, Class A Preferred Units and general partner units in the capital
of the Partnership 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 shares in the capital of the Company and Units, Class A Preferred Units or general partner units in the capital of the Partnership
were issued in violation of the pre-emptive or other similar rights of any securityholder of the Company or the Partnership, as applicable.
All dividends, including the dividends on shares and all other securities of the Company ranking prior to or on a parity with the Shares
with respect to the payment of dividends in respect of periods ending on or prior to the date hereof have been declared and paid or set
apart for payment. All distributions, including the distributions on all other securities of the Partnership ranking prior to or on a
parity with the Units 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.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(i)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Authorization.
</I>Each of the Company and the Partnership has the power and authority to execute, deliver and perform its obligations under this Agreement,
and this Agreement, has been duly authorized, executed and delivered by each of the Company and the Partnership.</P>

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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; text-align: justify; text-indent: 1in">(j)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Authorization
and Description of Securities. </I>The Shares have been duly authorized for issuance and sale pursuant to this Agreement and, when issued
and delivered by the Company pursuant to this Agreement, will be validly issued, fully paid and non-assessable; the issuance of any Units
pursuant to the exchange, redemption or acquisition of any of the Shares in accordance with their terms will be duly and validly issued
by the Partnership and delivered by the Company or the Partnership, as applicable, as fully paid and non-assessable; the Shares and Units
conform to all statements relating thereto contained in the Registration Statement, the Disclosure Package and the Prospectuses and such
description conforms to the rights set forth in the instruments defining the same; no holder of the Shares or Units will be subject to
personal liability solely by reason of being such a holder; and the issuance of the Shares or Units is not subject to the pre-emptive
or other similar rights of any securityholder of the Company or 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; text-indent: 1in">(k)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Absence
of Defaults and Conflicts. </I>None of the Partnership Entities is in violation of its limited partnership agreement, articles, charter
or by laws, as applicable, or is 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 Partnership Entities is a party or by which it or any of them may be bound, or to which any of the Partnership Entities,
or the property or assets of any of the Partnership Entities is subject (collectively, &ldquo;<U>Agreements and Instruments</U>&rdquo;),
except for such defaults that would not result in a Material Adverse Effect. The execution, delivery and performance of this Agreement
and the consummation of the transactions contemplated herein and in the Registration Statement, the Disclosure Package and the Prospectuses
(including the sale and delivery of the Shares, and the authorization, issuance, sale and delivery of any Units upon the exchange, redemption
or acquisition of any Shares, and the use of the proceeds from the sale of the Shares as described in the Disclosure Package and the
Prospectuses under the caption &ldquo;Use of Proceeds&rdquo;) and compliance by each of the Company and the Partnership 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 (as defined below) under, or result in the creation
or imposition of any lien, charge or encumbrance upon any property or assets of any of the Partnership Entities 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 Partnership Entities, the resolutions of the General Partner (as defined herein), unitholders,
shareholders, directors or any committee of directors of any of the Partnership Entities 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 Partnership Entities 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;<U>Repayment Event</U>&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 Partnership 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; text-align: justify; text-indent: 1in">(l)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Absence
of Labor Dispute. </I>No labor dispute with the employees of any of the Partnership Entities exists or, to the knowledge of the Company
or the Partnership is imminent, and neither the Company nor the Partnership is aware of any existing or imminent labor disturbance by
the employees of any of the Partnership Entities&rsquo; principal suppliers, manufacturers, customers or contractors, which, in either
case, would result in a Material Adverse Effect.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(m)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Absence
of Proceedings. </I>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 Partnership, threatened,
against or affecting any of the Partnership Entities, which is required to be disclosed in the Disclosure Package and the Prospectuses,
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 Partnership Entities or the consummation of the transactions contemplated by this Agreement or the performance
by the Company or the Partnership of their obligations hereunder; the aggregate of all pending legal or governmental proceedings to which
any of the Partnership Entities 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 Prospectuses, including ordinary routine litigation incidental to the business of any of the Partnership
Entities, are not reasonably likely to result in a Material Adverse Effect.</P>

<P STYLE="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">(n)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Absence
of Contracts,&nbsp;etc. </I>There are no contracts or documents which are required to be described in the Disclosure Package and the
Prospectuses which have not been so described.</P>

<P STYLE="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">(o)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Absence
of Further Requirements. </I>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 the Partnership of their
obligations hereunder, in connection with the transactions contemplated by this Agreement (including the offer, issuance or sale of the
Shares hereunder and the issuance and delivery of any Units upon the exchange, redemption or acquisition of any Shares), except such
as have been or, prior to the date hereof, will be, obtained, or as may be required, under (i)&nbsp;Canadian Securities Laws, (ii)&nbsp;the
Act, the Exchange Act, the Sarbanes-Oxley Act of 2002, as amended, and the rules&nbsp;and regulations promulgated thereunder (&ldquo;<U>Sarbanes-Oxley</U>&rdquo;),
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, the rules&nbsp;of the New York Stock Exchange
(the &ldquo;<U>NYSE</U>&rdquo; and the rules, the &ldquo;<U>NYSE Rules</U>&rdquo;) (collectively, the &ldquo;<U>U.S. Securities Laws</U>&rdquo;
and, together with the Canadian Securities Laws, the &ldquo;<U>Applicable Securities Laws</U>&rdquo;), and (iii)&nbsp;the regulations
of the Exchanges (including, in the case of the Shares and the Units issuable upon the exchange, redemption or acquisition of such Shares
in accordance with their terms), application to the Exchanges, extraterritorial registrations and the Company fulfilling the requirements
of the Exchanges in connection therewith), except where the failure to do so would not have a Material Adverse Effect.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(p)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Possession
of Licenses and Permits. </I>Each of the Partnership Entities possesses such permits, licenses, approvals, consents and other authorizations
(collectively, &ldquo;<U>Governmental Licenses</U>&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 Partnership Entities 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 none of the Partnership Entities 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 the Company
or the Partnership, 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 each of the Company and the Partnership, and except as described in the Disclosure Package and the Prospectuses,
no party granting any such Governmental Licenses is considering limiting, suspending, modifying, withdrawing, or revoking the same in
any material respect.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(q)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Title
to Property. </I>Except as described in the Disclosure Package and the Prospectuses, each of the Partnership Entities 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 Partnership Entities) which are material to each of
the Partnership 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; text-align: justify; text-indent: 1in">(r)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Environmental
Laws. </I>Except as described in the Disclosure Package and the Prospectuses and except as would not, singly or in the aggregate, result
in a Material Adverse Effect, (A)&nbsp;none of the Partnership Entities 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;<U>Hazardous Materials</U>&rdquo;) or to the manufacture, processing, distribution, use, treatment, storage,
disposal, transport or handling of Hazardous Materials (collectively, &ldquo;<U>Environmental Laws</U>&rdquo;), (B)&nbsp;each of the
Partnership Entities 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 Partnership, threatened administrative,
regulatory or judicial actions, suits, demands, demand letters, claims, liens, notices of non-compliance or violation, investigation
or proceedings relating to any Environmental Law against any of the Partnership Entities, 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 Partnership Entities relating to Hazardous Materials or
any Environmental Laws.</P>

<P STYLE="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: justify; text-indent: 1in">(s)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>No
Stabilization or Manipulation. </I>Neither the Company nor the Partnership nor, to either of their knowledge, any of the officers, directors
or affiliates of the Company or Brookfield Infrastructure Partners Limited (the &ldquo;<U>General Partner</U>&rdquo;), as general partner
of the Partnership, 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 Shares.</P>

<P STYLE="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">(t)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Other
Reports and Information. </I>There are no reports or information that, in accordance with the requirements of Securities Commissions,
must be made publicly available in connection with the transactions contemplated by this Agreement that have not been or will not be
made publicly available as required; no material change reports or other documents have been filed on a confidential basis with the Securities
Commissions that remain confidential as of the date hereof; there are no documents required to be filed with the Securities Commissions
in connection with the transactions contemplated by this Agreement that have not been, or will not be, filed as required; there are no
contracts, documents or other materials required to be described or referred to in the Disclosure Package or Prospectuses that are not
described, referred to or filed as required.</P>

<P STYLE="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">(u)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Insurance.
</I>Each of the Partnership Entities 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 such Partnership
Entity, 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. The Partnership Entities have 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 Partnership Entities has been denied any insurance coverage, which it has sought or for which it has applied.</P>

<P STYLE="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">(v)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Accounting
Controls. </I>Each of the Partnership Entities maintains a system of internal accounting controls 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, the Company&rsquo;s or the Partnership&rsquo;s
principal executive and principal financial officers, to provide reasonable assurance regarding the reliability of financial reporting
and the preparation of financial statements for external purposes in accordance with IFRS, and 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 transactions contemplated by this Agreement
will be, overseen by the respective Audit Committee (the &ldquo;<U>Audit Committees</U>&rdquo;) of each of the General Partner and of
the Company in accordance with NYSE Rules. As of the date of the most recent balance sheets of the Company and the Partnership and their
consolidated subsidiaries included or incorporated by reference in the Registration Statement, the Disclosure Package and the Prospectuses,
there were no material weaknesses in either the Company&rsquo;s or the Partnership&rsquo;s internal controls. Neither the Company nor
the Partnership has publicly disclosed or reported to the Audit Committees or the General Partner, and, within the next 135 days, neither
the Company nor the Partnership reasonably expects to publicly disclose or report to the Audit Committees 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 matter which, if determined adversely,
would have a Material Adverse Effect.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(w)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Compliance
with the Sarbanes-Oxley Act. </I>There is and has been no failure on the part of either the Company or the Partnership or, to the knowledge
of either the Company or the Partnership, any of the Company&rsquo;s or the General Partner&rsquo;s directors or officers, in their capacities
as such, to comply in all material respects with any provision of the Sarbanes-Oxley Act, including Section&nbsp;402 related to loans
and Sections 302 and 906 related to certifications, insofar as the Company and the Partnership are required to comply with the aforementioned
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: 1in">(x)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Taxes. </I>All
United States federal and Canadian federal income tax returns and tax returns of foreign jurisdictions of the Partnership Entities
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 or except where the failure to file or pay would not reasonably be expected to result in a Material Adverse Effect.
Each of the Partnership Entities 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 Partnership
Entities, except where the failure to pay would not reasonably be expected to result in a Material Adverse Effect, or 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 Partnership Entities in respect of any income tax liability for any years not finally
determined are adequate to meet any assessments or re-assessments for additional income and corporation tax liability for any years
not finally determined, except to the extent of any inadequacy that would not result in a Material Adverse Effect.</P>

<P STYLE="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">(y)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>U.S.
Federal Income Tax Disclosure.</I> The statements set forth in the Disclosure Package, the U.S. Base Prospectus and the U.S. Prospectus
Supplement under the caption &ldquo;Certain U.S. Federal Income Tax Considerations&rdquo;, insofar as such statements 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, subject to the assumptions, qualifications, limitations and understandings stated
or referred to therein.</P>

<P STYLE="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">(z)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>C<I>anadian
Federal Income Tax Disclosure</I>. The statements set forth in the Disclosure Package, the Canadian Base Prospectus and the Canadian
Prospectus Supplement under the captions &ldquo;Certain Canadian Federal Income Tax Considerations&rdquo; and &ldquo;Eligibility for
Investment&rdquo;, insofar as they purport to describe the material tax consequences to holders of the ownership and disposition of the
Shares or legal conclusions with respect thereto, and subject to the limitations, qualifications, understandings, and assumptions set
forth therein, are a fair and accurate summary of the matters set forth therein.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(aa)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Sanctions.
</I>None of the Partnership Entities or their subsidiaries, their respective directors or officers nor, to the knowledge of the Company
or the Partnership, any agent, employee, affiliate or person acting on behalf of the Company or the Partnership or any of their respective
subsidiaries, (i)&nbsp;is, or is controlled or 50% or more owned by an individual or entity 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;<U>OFAC</U>&rdquo;)
(including, without limitation, through designation on OFAC&rsquo;s Specially Designated Nationals and Blocked Persons list), the U.S.
Department of State, or any sanctions administered by Global Affairs Canada or Public Safety Canada, the United Nations Security Council
or the European Union, His Majesty&rsquo;s Treasury or other applicable sanctions authority (collectively, &ldquo;<U>Sanctions</U>&rdquo;),
or (ii)&nbsp;is 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, 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;<U>Sanctioned Countries</U>&rdquo;), and neither the Company nor the Partnership 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 Partnership 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 Act or any orders or regulations made thereunder.</P>

<P STYLE="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">(bb)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Investment
Company Act. </I>Neither the Company nor the Partnership is and, after giving effect to the offer and sale of the Shares and the application
of the proceeds thereof as described in the Disclosure Package and the Prospectuses, will not be required to register as an &ldquo;investment
company&rdquo; as defined in the United States Investment Company Act of 1940 (the &ldquo;<U>Investment Company Act</U>&rdquo;), as amended,
and the rules&nbsp;and regulations promulgated thereunder.</P>

<P STYLE="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">(cc)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Foreign
Private Issuer and Commission Foreign Issuer. </I>Each of the Company and the Partnership is a &ldquo;foreign private issuer&rdquo; within
the meaning of Rule&nbsp;405 under the 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"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(dd)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Compliance
with Laws. </I>Each of the Partnership Entities and, to both the Company&rsquo;s and the Partnership&rsquo;s knowledge, others who perform
services on behalf of the Partnership Entities in the performance of such services on behalf of the Partnership Entities, 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 Partnership Entities has received any notice
citing action or inaction by any of the Partnership Entities, or others who perform services on behalf of the Partnership Entities, 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 both the Company and the Partnership, other than as set forth in the Disclosure Package and the Prospectuses, 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.</P>

<P STYLE="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">(ee)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Transfer
Agent. </I>Computershare Trust Company of Canada at its principal offices located at 320 Bay Street, 14th Floor, Toronto, Ontario, M5H
4A6 has been duly appointed as registrar and transfer agent for the Company&rsquo;s Exchangeable Shares and Computershare Inc. at its
principal offices located at 150 Royall Street, Canton, MA 02021 has been duly appointed as registrar and transfer agent for the Units<I>.</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; text-align: justify; text-indent: 1in">(ff)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Director
or Officer Loans. </I>Except as disclosed in documents incorporated by reference into the Disclosure Package and the Prospectuses, 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 Partnership Entities, to or for the benefit of any of the officers or directors of any of the Partnership
Entities or any of their respective family members.</P>

<P STYLE="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">(gg)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Off-Balance
Sheet Arrangements. </I>There are no transactions, arrangements or other relationships between and/or among the Partnership Entities,
any of their 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 Partnership&rsquo;s liquidity or the availability of, or requirements
for, its capital resources required to be described in the Disclosure Package and the Prospectuses which have not been described as required.</P>

<P STYLE="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">(hh)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Exchange
Listings. </I>Each of the Company and the Partnership 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 the Company, the Partnership 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. Each of the Company and the Partnership is in compliance with
all applicable requirements of the Toronto Stock Exchange (the &ldquo;<U>TSX</U>&rdquo; and, together with NYSE, the &ldquo;<U>Exchanges</U>&rdquo;),
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. All necessary consents, approvals, authorizations have been obtained by the Company and the Partnership from the Exchanges
to ensure that, subject to fulfilling the standard listing conditions of the Exchanges, the Shares (and any securities issuable upon
the conversion or exchange thereof, including the Units) will be posted for trading on the Exchanges upon their issuance.</P>

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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; text-align: justify; text-indent: 1in">(ii)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Filing
and Effectiveness of Registration Statement; Certain Defined Terms</I>. Each of the Company, the Partnership and the offering of the
Shares meet the general eligibility requirements for use of Form&nbsp;F-3 under the Act; each of the Company and the Partnership have
filed a Registration Statement on Form&nbsp;F-3 (with respect to the Company, File No.&nbsp;333-278738, and with respect to the Partnership,
File No.&nbsp;333-278738-01) in respect of the Shares and the Units issuable upon exchange thereof; such registration statement and any
post-effective amendment thereto, each in the form heretofore delivered or to be delivered to the Agents and, including exhibits to such
registration statement and any documents incorporated by reference in the prospectus contained therein, for delivery by them to each
of the other Agents, became effective under the Act in such form; no other document with respect to such registration statement or documents
incorporated by reference therein has heretofore been filed or transmitted for filing with the Commission; no stop order suspending the
effectiveness of such registration statement has been issued and, to the knowledge of the Company or the Partnership, no proceeding for
that purpose has been initiated or threatened by the Commission; the various parts of such registration statement, including all exhibits
thereto and the documents incorporated by reference in the prospectus contained in the registration statement at the time such part of
the registration statement became effective and including the information, if any, deemed pursuant to Rule&nbsp;430A, 430B or 430C under
the Act to be part of the registration statement at the time of its effectiveness, each as amended at the time such part of the registration
statement became effective and including any post-effective amendment thereto, are collectively referred to herein as the &ldquo;<U>Registration
Statement</U>&rdquo;; the prospectus relating to the Shares, in the form in which it has most recently been filed, or transmitted for
filing, with the Commission on or prior to the date hereof, being hereinafter called the &ldquo;<U>U.S. Base Prospectus</U>&rdquo;; with
respect to the Shares, &ldquo;<U>U.S. Prospectus</U>&rdquo; means the U.S. Base Prospectus as supplemented by the prospectus supplement
relating to the offering of the Shares that is filed with the Commission pursuant to Rule&nbsp;424(b)&nbsp;under the Act in the form
first used (or made available upon request of purchasers pursuant to Rule&nbsp;173 under the Act) (the &ldquo;<U>U.S. Prospectus Supplement</U>&rdquo;);
any reference herein to the U.S. Base Prospectus, the U.S. Prospectus Supplement or the U.S. Prospectus shall be deemed to refer to and
include the documents incorporated by reference therein as of the date of such U.S. Base Prospectus, U.S. Prospectus Supplement or U.S.
Prospectus, as the case may be; any reference to any amendment or supplement to the U.S. Base Prospectus, U.S. Prospectus Supplement
or U.S. Prospectus shall be deemed to refer to and include any documents filed as of the date of such amendment or supplement under the
Exchange Act, and incorporated by reference in such amendment or supplement; &ldquo;<U>Prospectuses</U>&rdquo; means, collectively, the
Canadian Prospectus and the U.S. Prospectus: and &ldquo;<U>Prospectus Supplements</U>&rdquo; means, collectively, the Canadian Prospectus
Supplement and the U.S. Prospectus Supplement.</P>

<P STYLE="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">(jj)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Compliance
with Act Requirements</I>. On the date and time that any part of the Registration Statement, any post-effective amendment or amendments
thereto became or becomes effective (the &ldquo;<U>Effective Date</U>&rdquo;), the Registration Statement conformed or will conform in
all material respects with the applicable requirements of the Act; as of the date hereof, the date the U.S. Prospectus is first filed,
at each Time of Sale, at each Representation Date and at each Settlement Date and at each Amendment Date, the U.S. Prospectus conformed
or will conform in all material respects with the applicable requirements of the Act; on the date each was first filed, the Canadian
Base Prospectus and the Canadian Prospectus Supplement and any amendment or supplement thereto, together with each document incorporated
therein by reference therein, did, and as of the date hereof, at each Time of Sale, at each Representation Date, at each Settlement Date
and at each Amendment Date, will, as applicable, comply in all material respects with Canadian Securities Laws and the rules&nbsp;and
regulations of the Canadian Qualifying Authorities under Canadian Securities Laws and did and will, as applicable, provide full, true
and plain disclosure of all material facts relating to the Company and the Partnership taken as a whole, the Shares and the Units and
did not and will not, as applicable, contain any misrepresentation; and the Registration Statement, as of the date hereof and as of the
Effective Date, did not, and at each Time of Sale, at each Representation Date, at each Settlement Date and at each Amendment Date, will
not, contain 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 under which they were made, not misleading; provided, however, that this representation and warranty
shall not apply to &ldquo;Agent Information&rdquo; described in Section&nbsp;5(c)&nbsp;below.</P>

<P STYLE="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: justify; text-indent: 1in">(kk)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Disclosure
Package. </I>The Disclosure Package, as of its issue date, each Time of Sale, at each Representation Date, at each Settlement Date and
at each Amendment Date, 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.</P>

<P STYLE="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">(ll)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Incorporated
Documents. </I>The documents incorporated by reference in the Disclosure Package and the U.S. Prospectus, when they became effective
or were filed with the Commission, as the case may be, conformed in all material respects to the requirements of the U.S. Securities
Laws, 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 U.S. Prospectus or any further amendment or supplement thereto, when such documents become effective
or are filed with the Commission, as the case may be, will conform in all material respects to the requirements of the U.S. Securities
Laws 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, in light of the circumstances they were made.</P>

<P STYLE="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">(mm)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Registration
Statement</I>. The Registration Statement was filed not earlier than the date that is three years prior to 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: 1in">(nn)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>No
Distribution of Other Offering Materials</I>. None of the Company, the Partnership or any of their subsidiaries has distributed nor,
prior to the completion of the distribution of the Shares, will distribute any offering material in connection with the offer and sale
of the Shares, other than the Disclosure Package and the Prospectuses.</P>

<P STYLE="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">(oo)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Fair
Summaries.</I> The statements set forth in the Disclosure Package and the Prospectuses under the captions &ldquo;Description of Exchangeable
Shares&rdquo; and &ldquo;Description of Limited Partnership Units&rdquo; insofar as they purport to constitute a summary of the terms
of the Exchangeable Shares and Units, are accurate, complete and fair.</P>

<P STYLE="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: justify; text-indent: 1in">(pp)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Registration
Rights.</I> Except as disclosed in the Disclosure Package and the Prospectuses, there are no contracts, agreements or understandings
between the Company and any person, or the Partnership and any person, granting such person the right to require the Company or the Partnership
to file a registration statement under the Act with respect to any shares of the Company or any limited partnership units of the Partnership
owned or to be owned by such person or to require the Company or the Partnership to include such shares or limited partnership units
in the shares or limited partnership units registered pursuant to a registration statement or in any shares or limited partnership units
being registered pursuant to any other registration statement filed by the Company or the Partnership, as applicable, under the 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: 1in">(qq)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>No
Unlawful Payments</I>. None of the Company, the Partnership or their subsidiaries, their affiliates and their respective officers, directors,
supervisors, managers, or employees, nor to the knowledge of the Company or the Partnership, any agent of the foregoing has violated,
and by their participation in the offering of the Shares will violate, and each of the Company and the Partnership has instituted and
maintains policies and procedures reasonably designed to ensure continued compliance by each of the foregoing with the following laws,
as applicable: (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, the U.S. Foreign Corrupt Practices Act of 1977, the Bribery Act
2010 of the United Kingdom and the Corruption of Foreign Public Officials Act (Canada), 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 Uniting and Strengthening
America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism (USA PATRIOT) Act of 2001, as amended, and the rules&nbsp;and
regulations promulgated thereunder, the Currency and Foreign Transactions Reporting Act of 1970, as amended, and the rules&nbsp;and regulations
promulgated thereunder, the applicable money laundering laws of all jurisdictions where the Company, the Partnership or any of their
respective 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
the Company, the Partnership or any of their respective controlled affiliates with respect to the foregoing is pending or, to the knowledge
of either the Company or the Partnership, threatened; and (c)&nbsp;laws and regulations imposing U.S. economic sanctions measures, including,
but not limited to, the International Emergency Economic Powers Act, as amended, and the rules&nbsp;and regulations promulgated thereunder,
the Trading with the Enemy Act of 1917, as amended, and the rules&nbsp;and regulations promulgated thereunder, the United Nations Participation
Act of 1945, as amended, and the rules&nbsp;and regulations promulgated thereunder, and any executive order, directive, or regulation
pursuant to the authority of any of the foregoing, including the regulations of the United States Treasury Department set forth under
31 CFR, Subtitle B, Chapter V, as amended, or any orders or licenses issued thereunder.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(rr)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Representation
of Officers</I>. Any certificate signed by an officer of the Company or the General Partner on behalf of the Partnership and delivered
to the Agents as required or contemplated by this Agreement shall constitute a representation and warranty hereunder by the Company and
the Partnership, as applicable, as to matters covered thereby, to each 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; text-align: justify; text-indent: 1in">(ss)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Disclosure
Controls and Procedures. </I>Each of the Company and the Partnership 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 each of the Company and the Partnership
in reports that it files or submits under the Exchange Act is recorded, processed, summarized and reported within the time periods specified
in the Commission&rsquo;s rules&nbsp;and forms, including controls and procedures designed to ensure that such information relating to
the Company or the Partnership, as applicable, and their respective subsidiaries is accumulated and made known to either the Company&rsquo;s
or the Partnership&rsquo;s, as applicable, principal executive officer and principal financial officer by others within those entities;
and such disclosure controls and procedures are effective.</P>

<P STYLE="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">(tt)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Cybersecurity.
</I>The Partnership Entities&rsquo; information technology assets and equipment, computers, systems, networks, hardware, software, websites,
applications, and databases (collectively, &ldquo;<U>IT Systems</U>&rdquo;) are adequate for, and operate and perform in all material
respects as required in connection with the operation of the business of the Partnership Entities as currently conducted, and to the
best of the Partnership Entities&rsquo; knowledge, are free and clear of all material bugs, errors, defects, Trojan horses, time bombs,
malware and other corruptants. The Company, the Partnership and their respective 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;<U>Personal Data</U>&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 Company, the Partnership
and their respective subsidiaries 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 Company,
the Partnership and their respective subsidiaries, 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.</P>

<P STYLE="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">(uu)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Stamp
Duty. </I>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 of the Units by the Partnership upon the exchange, redemption or acquisition
of the Shares, or in connection with the execution and delivery of 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"></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">(vv)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>eXtensible
Business Reporting Language. </I>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 Commission&rsquo;s rules&nbsp;and guidelines 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: 1in">(ww)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Statistical
and Market-Related Data</I>. The statistical and market-related data included in the Disclosure Package and the Prospectuses and the
consolidated financial statements of the Company and the Partnership and their respective subsidiaries included in the Disclosure Package
and the Prospectuses are based on or derived from sources that the Company and the Partnership believe to be reliable in all material
respects.</P>

<P STYLE="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">(xx)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Brokerage
Fee</I>. Other than the Agents, there is no person acting or purporting to act at the request of either the Company or the Partnership,
who is entitled to any brokerage or agency fee in connection with the offering of the Shares.</P>

<P STYLE="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">(yy)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Passive
Foreign Investment Company. </I>Neither the Company nor the Partnership was a &ldquo;passive foreign investment company&rdquo; (&ldquo;<U>PFIC</U>&rdquo;)
as defined in Title 26 U.S. Code section 1297 for its most recently completed taxable year and neither the Company nor the Partnership
expects to be a PFIC for the foreseeable future.</P>

<P STYLE="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">2.<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Sale
and Delivery of the Shares</U>.</P>

<P STYLE="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">(a)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Agency
Transactions</I>. On the basis of the representations, warranties and agreements herein contained, but subject to the terms and conditions
herein set forth, the Company, the Partnership and the Agents agree that the Company may issue and sell through or to the Agents, as
sales agents for the Company, the Shares (an &ldquo;<U>Agency Transaction</U>&rdquo;) 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; text-align: justify; text-indent: 1.5in">(i)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>The
Company may, from time to time, propose to the applicable Agent the terms of an Agency Transaction by means of a telephone call or other
form of written electronic communication (in each case, confirmed promptly by electronic mail in a form to be agreed upon by the Company
and the Agents (an &ldquo;<U>Agency Transaction Notice</U>&rdquo;)) from at least one of the individuals listed as an authorized representative
of the Company on <U>Schedule 1</U> hereto (each, an <U>&ldquo;Authorized Company Representative</U>&rdquo;), such Agency Transaction
Notice to include, among other parameters permitted in accordance with this Agreement: the trading day(s)&nbsp;for the NYSE, the TSX
or any other marketplace in Canada or the United States where the Shares may be traded (which may not be a day on which the NYSE, the
TSX or other marketplace in Canada or the United States where the Shares may be traded, as applicable, is closed or scheduled to close
prior to its regular weekday closing time) on which the Shares are to be sold (each, a &ldquo;<U>Trading Day</U>&rdquo;); the maximum
number or value of Shares that the Company wishes to sell in the aggregate on each Trading Day; the minimum price at which the Company
is willing to sell the Shares (the &ldquo;<U>Floor Price</U>&rdquo;); the aggregate number of the Shares proposed to be distributed pursuant
to such Agency Transaction Notice; and the amount of the Agents Fees (as herein defined). The Agency Transaction Notice shall be effective
upon delivery to the applicable Agent unless and until (A)&nbsp;the applicable Agent in its sole discretion declines to accept the terms
contained therein and does not confirm promptly in accordance with Section&nbsp;2(a)(ii), (B)&nbsp;the entire amount of the Shares under
the Agency Transaction Notice has been sold, (C)&nbsp;the Company suspends or terminates the Agency Transaction Notice in accordance
with the notice requirements set forth in Section&nbsp;2(a)(vii)&nbsp;or Section&nbsp;7, as applicable, (D)&nbsp;the Company issues a
subsequent Agency Transaction Notice with parameters superseding those on the earlier Agency Transaction Notice or (E)&nbsp;this Agreement
has been terminated under the provisions of this Agreement. Notwithstanding the foregoing, the Company may not deliver an Agency Transaction
Notice to an Agent if the Company has delivered an Agency Transaction Notice which remains in effect to another Agent, unless the Company
has terminated the prior Agency Transaction Notice in accordance with the notice requirements set forth in Section&nbsp;2(a)(vii). The
terms of an Agency Transaction shall be proposed to, and each Agency Transaction Notice shall be addressed to, the respective individuals
from the applicable Agent set forth on <U>Schedule 1</U> hereto, as such <U>Schedule 1</U> may be amended from time to time by written
notice (which may be provided by email) to each of the parties hereto (the &ldquo;<U>Authorized Agent Representatives</U>&rdquo;).</P>

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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; text-align: justify; text-indent: 1.5in">(ii)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>If
such proposed terms for an Agency Transaction are acceptable to the applicable Agent, it shall promptly confirm the terms by countersigning
the Agency Transaction Notice for such Agency Transaction and emailing it to the Authorized Company Representatives which delivered such
Agency Transaction Notice.</P>

<P STYLE="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: 1.5in">(iii)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>Subject
to the terms and conditions hereof, the applicable Agent shall, severally and not jointly, use its commercially reasonable efforts, consistent
with its normal trading and sales practices and in accordance with applicable law and regulations, to sell all of the Shares designated
in, and subject to the terms of, such Agency Transaction Notice. The applicable Agent shall not sell any Share at a price lower than
the Floor Price. The Company acknowledges and agrees with the Agents that (x)&nbsp;there can be no assurance that an Agent will be successful
in selling all or any of such Shares or as to the price at which any Shares are sold, if at all, (y)&nbsp;no Agent shall incur any liability
or obligation to the Company or any other person or entity if they do not sell any Shares for any reason other than a failure by such
Agent to use its commercially reasonable efforts, consistent with its normal trading and sales practices and in accordance with applicable
law and regulations, to sell such Shares in accordance with the terms of this Agreement and (z)&nbsp;no Agent shall be under any obligation
to purchase any Shares on a principal basis pursuant to this Agreement except as otherwise specifically agreed by such Agent and the
Company pursuant to an Agency Transaction Notice.</P>

<P STYLE="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: 1.5in">(iv)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>Each
of the U.S. Agents, severally (and not jointly), covenants and agrees with the Company that (i)&nbsp;it shall not, directly or indirectly,
advertise or solicit offers to purchase or sell Shares in Canada, and (ii)&nbsp;it shall not sell Shares on any &ldquo;marketplace&rdquo;
(as defined under Canadian Securities Laws) in Canada. For the avoidance of doubt, none of the U.S. Agents is acting as an agent or underwriter
of the Shares in the Canadian Qualifying Jurisdictions and no action on the part of any of the U.S. Agents in its capacity as an Agent
of the offering of the Shares in the United States is intended to create any impression or support any conclusion that it is acting as
an agent or underwriter of the Shares in the Canadian Qualifying Jurisdictions.</P>

<P STYLE="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: 1.5in">(v)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>Each
of the Canadian Agents, severally and not jointly, hereby covenants and agrees that, if and when such Canadian Agent has received an
Agency Transaction Notice that has not been suspended or terminated in accordance with the terms hereof, such Canadian Agent will prudently
and actively monitor the market&rsquo;s reaction to trades made on any marketplace pursuant to this Agreement in order to evaluate the
likely market impact of future trades, and that, if such Canadian Agent has concerns as to whether a particular sale contemplated by
an Agency Transaction Notice may have a significant effect on the market price of the Shares, the applicable Canadian Agent will, upon
receipt of the applicable Agency Transaction Notice, recommend to the Company against effecting the trade at that time or on the terms
proposed. Notwithstanding the foregoing, the Company acknowledges and agrees that neither the Canadian Agents nor the U.S. Agents can
provide complete assurances that any sale will not have a significant effect on the market price of the Shares.</P>

<P STYLE="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: justify; text-indent: 1.5in">(vi)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>Each
of the Agents, severally (and not jointly), covenants and agrees with the Company that no sale of Shares may be made hereunder if it
would cause the Company or the Partnership to violate Ontario Securities Commission Rule&nbsp;48-501 or Regulation M under the Exchange
Act in connection with purchases of Shares or Units by the Company or the Partnership, as applicable, in its normal course issuer bid.</P>

<P STYLE="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: 1.5in">(vii)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>The
Company may, acting through at least one Authorized Company Representative, or the applicable Agent may, upon notice to the other party
hereto by telephone or electronic communication (confirmed promptly by electronic mail), suspend an offering of the Shares or terminate
an Agency Transaction Notice; <I>provided</I>, <I>however</I>, that such suspension or termination shall not affect or impair the parties&rsquo;
respective obligations with respect to the Shares sold hereunder prior to the giving of such notice, including the parties&rsquo; obligations
set forth under Section&nbsp;2(a)(ix). Notwithstanding any other provision of this Agreement, during (i)&nbsp;any time period in which
either the Company is in possession of &ldquo;material non-public information&rdquo; or has knowledge of a &ldquo;material change&rdquo;
or &ldquo;material fact&rdquo; with respect to the Company, the Partnership, or the Shares that has not been generally disclosed or the
Company has imposed a trading blackout period pursuant to its internal policies and procedures, or (ii)&nbsp;any period in which the
Company or the Partnership is making bids for and purchasing Exchangeable Shares or Units, as applicable, in accordance with Rule&nbsp;10b-18
under the Exchange Act or normal course issuer bids under applicable Canadian Securities Laws (each, a &ldquo;<U>No Trade Period</U>&rdquo;),
the Company agrees that (i)&nbsp;it will not deliver an Agency Transaction Notice to any Agent and (ii)&nbsp;it will terminate any Agency
Transaction Notice that was previously delivered to any Agent. For greater certainty, at any time while an Agency Transaction Notice
is pending or effective (and not currently suspended), the Company shall promptly notify the Agents of the commencement of a No Trade
Period and suspend any further offering or sale of Shares under the Agency Transaction Notice until the end of the No Trade Period or
such longer time period as required by Applicable Securities Laws.</P>

<P STYLE="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: 1.5in">(viii)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>If
the terms of any Agency Transaction as set forth in an Agency Transaction Notice contemplate that the Shares shall be sold on more than
one Trading Day, then the Company and the applicable Agent shall mutually agree to such additional terms and conditions as they deem
necessary in respect of such multiple Trading Days, and such additional terms and conditions shall be binding to the same extent as any
other terms contained in the relevant Agency Transaction Notice.</P>

<P STYLE="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: 1.5in">(ix)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>The
applicable Agent, as sales agent in an Agency Transaction, shall not make any sales of the Shares on behalf of the Company, pursuant
to this Agreement, other than by methods permitted by law, including (i)&nbsp;by means of ordinary brokers&rsquo; transactions that qualify
for delivery of the Prospectuses in accordance with Rule&nbsp;153 under the Act and meet the definition of an &ldquo;at-the-market-distribution&rdquo;
under Rule&nbsp;415(a)(4)&nbsp;under the Act, or that constitute an &ldquo;at-the-market distribution&rdquo; under NI 44-102 and are
made in compliance with NI 44-102, including, without limitation, sales made on or through the Exchanges, or any other marketplace in
Canada or the United States where the Exchangeable Shares may be traded, (ii)&nbsp;in block transactions, (iii)&nbsp;as otherwise agreed
to among the relevant parties or (iv)&nbsp;by means of any other existing trading market for the Exchangeable Shares or to or through
a market maker other than on an exchange. Each of the Canadian Agents severally (and not jointly) agrees that it shall not, in connection
with the distribution of the Shares in an &ldquo;at-the-market distribution&rdquo; under NI 44-102, engage in any transactions that are
intended to stabilize or maintain the market price of the Exchangeable Shares, including selling an aggregate number of Shares that would
result in the Canadian Agent creating an over-allocation position in the Exchangeable Shares.</P>

<P STYLE="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: 1.5in">(x)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>The
compensation to the Agents for sales of the Shares in an Agency Transaction shall be as agreed to by the Company and the Agents from
time to time but shall not exceed two percent (2%) of the gross offering proceeds of the Shares sold in such Agency Transaction, which
amount shall be paid in the same currency as the sale of the Shares to which it relates (the &ldquo;<U>Agents Fees</U>&rdquo;). The applicable
Agent shall provide written confirmation to the Company (which may be provided by email to at least one of the Authorized Company Representatives)
following the close of trading on each Trading Day on which Shares are sold in an Agency Transaction under this Agreement, setting forth
(i)&nbsp;the number of Shares and the average price of Shares sold on such Trading Day (showing the number and the average price of Shares
sold on the TSX, on the NYSE or on any other marketplace in Canada or the United States where the Shares may be traded), (ii)&nbsp;the
gross offering proceeds received from such sales, (iii)&nbsp;the commission payable by the Company to the applicable Agent with respect
to such sales (which commission shall be paid in the same currency as the sale of the Shares to which such commission pertains) and (iv)&nbsp;the
net offering proceeds (being the gross offering proceeds for such sales less the commission payable for such sales) (the &ldquo;<U>Net
Offering Proceeds</U>&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: 1.5in">(xi)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>Settlement
for sales of the Shares in an Agency Transaction pursuant to this Agreement shall occur on the first Trading Day or such later day as
is industry practice for regular-way trading following the date on which such sales are made (each such day, a &ldquo;<U>Settlement Date</U>&rdquo;).
On each Settlement Date, the Shares sold through the applicable Agent in Agency Transactions for settlement on such date shall be issued
and delivered by the Company to the applicable Agent against payment by the applicable Agent to the Company of the Net Offering Proceeds
from the sale of such Shares. Settlement for all such Shares shall be effected by free delivery of the Shares by the Company or its transfer
agent to the applicable Agent&rsquo;s or its designee&rsquo;s account (<I>provided </I>that the applicable Agent shall have given the
Company written notice of such designee prior to the relevant Settlement Date) at CDS Clearing and Depository Services Inc. through its
CDSX system for Shares sold in Canada, and at The Depository Trust Company for Shares sold in the United States, or by such other means
of delivery as may be mutually agreed upon by the parties hereto, which in all cases shall be freely tradable, transferable, registered
Shares in good deliverable form, in return for payment in same-day funds delivered to the account designated by the Company. If the Company,
or its transfer agent (if applicable), shall default on its obligation to deliver the Shares on any Settlement Date, the Company shall
(i)&nbsp;hold the applicable Agent harmless against any loss, claim, damage, or expense (including, without limitation, reasonable legal
fees and expenses), as incurred, arising out of or in connection with such default by the Company and (ii)&nbsp;pay the applicable Agent
any commission, discount or other compensation to which it would otherwise be entitled absent such default; provided, however, that without
limiting Section&nbsp;5 herein, with respect to (ii)&nbsp;above, the Company shall not be obligated to pay the applicable Agent any commission,
discount or other compensation on any Shares that it is not possible to settle due to: (A)&nbsp;a suspension or material limitation in
trading in securities generally on either of the Exchanges; (B)&nbsp;a material disruption in securities settlement or clearance services
in the United States or Canada; or (C)&nbsp;failure by the applicable Agent to comply with its obligations under the terms of this Agreement.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>[Reserved]</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; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Maximum
Number of Shares</I>. Under no circumstances shall the Company propose to any one of the Agents, or any one of the Agents effect, a sale
of Shares in an Agency Transaction pursuant to this Agreement if such sale would (i)&nbsp;cause the aggregate gross sales proceeds of
the Shares sold pursuant to this Agreement to exceed the Maximum Amount, (ii)&nbsp;cause the number of Shares sold to exceed the number
of Exchangeable Shares available for offer and sale under the then effective Canadian Prospectus or Registration Statement, or (iii)&nbsp;cause
the number of Shares sold pursuant to this Agreement to exceed the number of Shares authorized to be issued and sold from time to time
pursuant to this Agreement by the board of directors of the Company and the Partnership, or a duly authorized committee thereof, and
notified to the applicable Agent in writing.</P>

<P STYLE="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">(d)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Continuing
Accuracy of Representations and Warranties</I>. Any obligation of the Agents to use their commercially reasonable efforts to sell the
Shares on behalf of the Company as sales agents shall be subject to the continuing accuracy of the representations and warranties of
the Company herein, to the performance by the Company of its obligations hereunder and to the continuing satisfaction of the conditions
specified in Section&nbsp;4 of 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; text-align: justify; text-indent: 0.5in">3.<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Agreements
of the Company and the Partnership</U>. Each of the Company and the Partnership agrees with the Agents that:</P>

<P STYLE="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">(a)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Prospectus
and Registration Statement Amendments</I>. After the date of this Agreement and until the completion of the sales contemplated hereunder,
(i)&nbsp;the Company and the Partnership will notify the Agents promptly of the time when any subsequent amendment to the Canadian Base
Prospectus or the Registration Statement has been filed with any Securities Commission and has become effective or where a Receipt has
been issued therefor, as applicable, or any subsequent supplement to the U.S. Prospectus or the Canadian Prospectus has been filed (each,
an &ldquo;<U>Amendment Date</U>&rdquo;) and of any request by any Securities Commission for any amendment or supplement to the Registration
Statement or the Prospectuses or for additional information; (ii)&nbsp;the Company and the Partnership will file promptly all reports
and other documents required to be filed by it with the Commission pursuant to Rule&nbsp;433(d)&nbsp;under the Act and with the Canadian
Qualifying Authorities; (iii)&nbsp;the Company and the Partnership will submit to the Agents a copy of any amendment or supplement to
the Registration Statement or the Prospectuses (other than a copy of any documents incorporated by reference into the Registration Statement
or the Prospectuses) within a reasonable period of time before the filing thereof and will afford the Agents and the Agents&rsquo; counsel
a reasonable opportunity to comment on any such proposed filing prior to such proposed filing; and (iv)&nbsp;the Company and the Partnership
will furnish to the Agents at the time of filing thereof a copy of any document that upon filing is deemed to be incorporated by reference
in the Registration Statement or the Prospectuses (provided that the Company and the Partnership shall not be required to deliver documents
or information incorporated by reference into the Registration Statement or the Prospectuses if such documents are accessible from System
for Electronic Data Analysis and Retrieval + (&ldquo;<U>SEDAR+</U>&rdquo;) or Electronic Data Gathering Analysis and Retrieval System
(&ldquo;<U>EDGAR</U>&rdquo;)) and the Company and the Partnership will cause (x)&nbsp;each amendment or supplement to the U.S. Prospectus
to be filed with the Commission or, in the case of any document to be incorporated therein by reference, to be filed with the Commission
as required pursuant to the Exchange Act, within the time period prescribed and (y)&nbsp;each amendment or supplement to the Canadian
Prospectus to be filed with the Canadian Qualifying Authorities as required pursuant to the Shelf Procedures or, in the case of any document
to be incorporated therein by reference, to be filed with the Canadian Qualifying Authorities as required pursuant to the Canadian Securities
Laws, within the time period prescribed.</P>

<P STYLE="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)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Notice
of Stop Orders</I>. Each of the Company and the Partnership will advise the Agents, promptly after it receives notice thereof, of the
issuance by any Securities Commission of any stop order or of any order preventing or suspending the use of the Prospectuses or other
prospectus in respect of the Shares, of any notice of objection of the Commission to the use of the form of the Registration Statement
or any post-effective amendment thereto, of the suspension of the qualification of the Shares for offering or sale in the United States
or the Canadian Qualifying Jurisdictions, of the initiation or threatening of any proceeding for any such purpose, or of any request
by any Securities Commission for the amending or supplementing of the Registration Statement or the Prospectuses or for additional information
relating to the Shares. If there is an Agency Transaction Notice that has been issued by the Company that has not been suspended or terminated
in accordance with the notice requirements set forth in Section&nbsp;2(a)(iv)&nbsp;or Section&nbsp;7, as applicable, the Company and
the Partnership will use their commercially reasonable efforts to prevent the issuance of any stop order or any order preventing or suspending
the use of the Prospectuses or other prospectus in respect of the Shares or the suspension of any qualification for offering or sale
in the United States or the Canadian Qualifying Jurisdictions, and, in the event of the issuance of any such stop order or any such order
preventing or suspending the use of any prospectus relating to the Shares or suspending any such qualification, the Company and the Partnership,
as applicable, will use their commercially reasonable efforts to obtain the lifting or withdrawal of such order as soon as possible.
If there is no such outstanding Agency Transaction Notice, then, if, in the Company&rsquo;s determination and at the Company&rsquo;s
sole discretion, or in the Partnership&rsquo;s determination and at the Partnership&rsquo;s sole discretion, as applicable, it is necessary
to prevent the issuance of any stop order or have a stop order lifted, the Company and the Partnership will use their commercially reasonable
efforts to prevent the issuance of any stop order or any order preventing or suspending the use of the Prospectuses or other prospectus
in respect of the Shares or the suspension of any qualification for offering or sale in the United States or the Canadian Qualifying
Jurisdictions, and, in the event of the issuance of any such stop order or any such order preventing or suspending the use of any prospectus
relating to the Shares or suspending any such qualification, the Company or the Partnership, as applicable, will use its commercially
reasonable efforts to obtain the lifting or withdrawal of such order as soon as possible.</P>

<P STYLE="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">(c)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Delivery
of Prospectus; Subsequent Changes</I>. Within the time during which a prospectus relating to the Shares is required to be delivered by
the Agents under the Act (including in circumstances where such requirement may be satisfied pursuant to Rule&nbsp;153, Rule&nbsp;172
or Rule&nbsp;173(a)&nbsp;under the Act) or the Canadian Securities Laws, each of the Company and the Partnership will comply in all material
respects with all requirements imposed upon it by all Applicable Securities Laws, as appropriate and as from time to time in force, and
will file or furnish on or before their respective due dates all reports required to be filed or furnished by it with the Commission
pursuant to Sections 13(a), 13(c), or 15(d)&nbsp;of the Exchange Act, if applicable, or any other provision of or under the Exchange
Act or with the Canadian Qualifying Authorities pursuant to the Canadian Securities Laws, as appropriate. If during such period any event
occurs of which the Company or the Partnership becomes aware and as a result of which the Prospectuses as then amended or supplemented
would include any untrue statement of material fact or omit to state a material fact necessary in order to make the statements therein,
in the light of the circumstances under which they were made, not misleading, or if during such period it is necessary to amend or supplement
the Registration Statement or the Prospectuses to comply with Applicable Securities Laws, the Company or the Partnership, as applicable,
will promptly notify the Agents to suspend the offering of Shares during such period and, if, in the Company&rsquo;s determination and
at the Company&rsquo;s sole discretion, or in the Partnership&rsquo;s determination and at the Partnership&rsquo;s sole discretion, as
applicable, it is necessary to file an amendment or supplement to the Registration Statement or the Prospectuses to comply with Applicable
Securities Laws, the Company or the Partnership, as applicable, will promptly prepare and file with the Canadian Qualifying Authorities
and the Commission such amendment or supplement as may be necessary to correct such statement or omission or to make the Registration
Statement or the Prospectuses comply with such requirements, and the Company or the Partnership, as applicable, will furnish to the Agents
such number of copies of such amendment or supplement as the Agents may reasonably request.</P>

<P STYLE="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">(d)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Delivery
of Registration Statement and Prospectuses</I>. The Company and the Partnership will furnish to the Agents and their counsel (at the
expense of the Company) copies of the Registration Statement, the Prospectuses (including all documents incorporated by reference therein)
and all amendments and supplements to the Registration Statement or the Prospectuses that are filed with any Securities Commission during
the period in which a prospectus relating to the Shares is required to be delivered under the Act (including all documents filed with
the Commission during such period that are deemed to be incorporated by reference therein) or by the Canadian Qualifying Authorities
(including all documents filed with the Canadian Qualifying Authorities during such period that are deemed to be incorporated by reference
therein), in each case as soon as reasonably practicable and in such quantities as the Agents may from time to time reasonably request;
<I>provided</I>, however, the Company and the Partnership shall not be required to furnish any documents to the Agents that are available
on SEDAR+ or EDGAR.</P>

<P STYLE="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">(e)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Company
Information</I>. Each of the Company and the Partnership will furnish to the Agents such information in its possession as is reasonably
requested by the Agents as necessary or appropriate to fulfil their obligations as agents pursuant to this Agreement, the Act and Canadian
Securities Laws.</P>

<P STYLE="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">(f)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>[Reserved]</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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<P STYLE="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">(g)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Expenses</I>.
Whether or not the transactions contemplated by this Agreement are consummated or this Agreement is terminated in accordance with Section&nbsp;6,
the Company will pay or cause to be paid all reasonable expenses incident to the performance of its obligations under this Agreement,
including: (i)&nbsp;the fees, disbursements and expenses of the Company&rsquo;s counsel and the Company&rsquo;s accountants in connection
with the filing, registration and delivery of the Shares under Canadian Securities Laws and the Act and all other fees or expenses in
connection with the preparation and filing of the Canadian Base Prospectus, the Canadian Prospectus Supplement, the Registration Statement
and the U.S. Prospectus Supplement, and amendments and supplements to any of the foregoing, and all printing costs associated therewith,
(ii)&nbsp;all costs and expenses related to the transfer and delivery of the Shares to the Agents, (iii)&nbsp;all expenses and application
fees related to the listing of the Shares on the Exchanges, (iv)&nbsp;the cost of the preparation, issuance and delivery of the Shares,
(v)&nbsp;the costs and charges of any trustee, transfer agent, registrar or depositary, (vi)&nbsp;the filing fees incident to, and the
reasonable fees and disbursements of counsel for the Agents in connection with, securing any required review by the Financial Industry
Regulatory Authority,&nbsp;Inc. of the terms of the sale of the Shares, (vii)&nbsp;the reasonable and documented out-of-pocket fees,
disbursements and other charges of the Agents incurred on or prior to the date hereof in connection with this Agreement, the Registration
Statement and the Prospectuses, including, without limitation, the fees and disbursements of Milbank LLP, U.S. counsel to the Agents,
and Goodmans LLP, Canadian counsel to the Agents, provided that such fees, disbursements and other charges of the Agents shall be paid
upon receiving an invoice or invoices therefor from the Agents and/or their counsel, as applicable, (viii)&nbsp;the reasonable and documented
out-of-pocket fees, disbursements and other charges of the Agents incurred after the date hereof in connection with each Representation
Date and/or Time of Sale (without double counting) to which the Corporation has provided its prior written consent, including, without
limitation, the reasonable fees and disbursements of Milbank LLP, U.S. counsel to the Agents, and Goodmans LLP, Canadian counsel to the
Agents, provided that such fees, disbursements and other charges of the Agents shall be paid upon receiving an invoice or invoices therefor
from the Agents and/or their counsel, as applicable; and (ix)&nbsp;all other costs and expenses incident to the performance of the obligations
of the Company hereunder for which provision is not otherwise made in this Section.</P>

<P STYLE="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">(h)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Use
of Proceeds</I>. The Company shall apply the net proceeds from the offering and sale of the Shares to be sold by the Company in the manner
set forth in the Prospectuses under &ldquo;Use of Proceeds&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: 1in">(i)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Change
of Circumstances</I>. During the term of this Agreement, each of the Company and the Partnership will, at any time during a fiscal quarter
in which the Company intends to deliver an Agency Transaction Notice to the Agents to sell Shares, advise the Agents promptly after it
has received notice or obtained knowledge thereof, of any information or fact that would alter or affect in any material respect any
opinion, certificate, letter or other document provided to the Agents pursuant to 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; text-align: justify; text-indent: 1in">(j)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Due
Diligence Cooperation</I>. The Company and the Partnership will cooperate with any reasonable due diligence review requested by any of
the Agents or their counsel from time to time in connection with the transactions contemplated hereby or any Agency Transaction Notice,
including, without limitation, at each Representation Date or otherwise as the Agents may reasonably request, including quarterly diligence
sessions, providing information and making available documents and appropriate corporate officers of the Company and the Partnership
and representatives of the accountants for the Company and the Partnership, during regular business hours, for one or more due diligence
sessions with representatives of the Agents and their counsel. The Company and the Partnership will provide any such access and materials
to all Agents, unless any such Agent elects not to receive such access or materials.</P>

<P STYLE="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: justify; text-indent: 1in">(k)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Clear
Market</I>. From the time the Company issues an Agency Transaction Notice until the settlement for sales of all Shares remaining under
such Agency Transaction Notice, neither the Company, the Partnership nor any of their controlled affiliates shall offer to sell, pledge,
hypothecate, contract or agree to sell, purchase any option to sell, grant any option for the purchase of, lend, or otherwise dispose
of, directly or indirectly, any Exchangeable Shares, Units or any securities convertible into or exercisable or exchangeable for Exchangeable
Shares or Units, or warrants or other rights to acquire Exchangeable Shares or Units or permit the registration under the Act of any
Exchangeable Shares or Units, in each case without giving the Agents written notice (which may be via email) at least two business days&rsquo;
prior to the issuance date of such securities. The foregoing sentence shall not apply to (i)&nbsp;the issuance of Shares to be offered
and sold through Agents pursuant to this Agreement; (ii)&nbsp;the issuance of Exchangeable Shares or Units, as applicable, pursuant to
the exchange, redemption or acquisition of Exchangeable Shares, class A.1 exchangeable subordinate voting shares or class A.2 exchangeable
non-voting shares in the capital of Brookfield Infrastructure Holdings Corporation outstanding on the date hereof or that are issued
on or after the date hereof; (iii)&nbsp;the issuance of Exchangeable Shares pursuant to the exchange of exchangeable units of Brookfield
Infrastructure Corporation Exchange Limited Partnership outstanding on the date hereof or that are issued on or after the date hereof;
(iv)&nbsp;the issuance of Units pursuant to the exchange of exchangeable units of Brookfield Infrastructure Partners Exchange L.P. outstanding
on the date hereof or that are issued on or after the date hereof; (v)&nbsp;the issuance of Exchangeable Shares or Units or securities
convertible into or exercisable or exchangeable for Exchangeable Shares or Units pursuant to a dividend reinvestment plan of the Company
or the Partnership, any employee benefit, incentive or stock option or purchase plans or similar plans of the Company or the Partnership,
or any directors&rsquo; compensation plan of the Company or the Partnership; or to satisfy instruments issued pursuant to a dividend
reinvestment plan of the Company or the Partnership, any employee benefit, incentive or stock option or purchase plans or similar plans
of the Company or the Partnership; or (vi)&nbsp;the issuance or delivery of Units to satisfy any exchanges of Exchangeable Shares for
such Units in accordance with the terms thereof. If notice of a proposed transaction is provided by the Company or the Partnership pursuant
to this Section&nbsp;3(k), the Agents may suspend activity of the transactions contemplated by this Agreement for such period of time
as may be requested by the Company or as may be deemed appropriate by the Agents.</P>

<P STYLE="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">(l)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Affirmation
of Representations, Warranties, Covenants and Other Agreements</I>. Upon commencement of the offering of the Shares under this Agreement
(and upon the recommencement of the offering of the Shares under this Agreement following any suspension of sales under Section&nbsp;2(a)(vii)),
and at each Time of Sale, each Settlement Date and each Amendment Date, each of the Company and the Partnership shall be deemed to have
affirmed each applicable representation and warranty contained in this Agreement (except only to the extent that any such representation
is, by its express terms, limited to a specific 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; text-indent: 1in">(m)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Required
Filings Relating to Sale of Shares</I>. To the extent required by applicable Canadian Securities Laws and the Exchange Act, in respect
of any quarter or year, as applicable, in which sales of Shares were made by the Agents under this Agreement, the Company shall set forth
with regard to the most recent applicable quarter or year, as applicable, the number of Shares and the average selling price of the Shares
sold through the Agents under this Agreement, the gross and net proceeds received by the Company from such sales of Shares and the compensation
paid by the Company to the Agents with respect to sales of Shares pursuant to this Agreement. For so long as the Shares are listed on
the TSX, the Company and the Partnership will provide the TSX with all information it requires with respect to the offering of the Shares
within the timelines prescribed by the TSX and, for so long as the Shares are listed on the NYSE, the Company and the Partnership will
provide the NYSE with all information it requires with respect to the offering of the Shares within the timelines prescribed by the NYSE.</P>

<P STYLE="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: justify; text-indent: 1in">(n)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Representation
Dates; Certificate</I>. During the term of this Agreement, each time the Company or the Partnership (i)&nbsp;files the Prospectuses relating
to the Shares or amends or supplements the Registration Statement or the Prospectuses relating to the Shares by means of a post-effective
amendment or supplement but not by means of incorporation of document(s)&nbsp;by reference to the Registration Statement or the Prospectuses
relating to the Shares; (ii)&nbsp;files or amends an annual report on Form&nbsp;20-F (other than any immaterial amendment to an annual
report on Form&nbsp;20-F/A) or, without duplication, annual financial statements pursuant to Canadian Securities Laws; (iii)&nbsp;files
or amends reports on Form&nbsp;6-K containing interim financial statements pursuant to Canadian Securities Laws; (iv)&nbsp;files a current
report on Form&nbsp;6-K containing amended financial information (other than (x)&nbsp;information that is &ldquo;furnished&rdquo; and
not filed, unless such information is incorporated by reference into the Registration Statement, the Disclosure Package or the Prospectus,
or (y)&nbsp;any amendment relating to clerical corrections or that is otherwise immaterial in nature) or (v)&nbsp;at any other time reasonably
requested by the Agents in connection with the public filing by the Company or the Partnership of material information on SEDAR+ and
EDGAR (each date of filing of one or more of the documents referred to in clauses (i)&nbsp;through (iv)&nbsp;and at any time reasonably
requested pursuant to (v)&nbsp;above shall be a &ldquo;<U>Representation Date</U>&rdquo;), the Company and the Partnership shall furnish
the Agents with a certificate, in the form included in Section&nbsp;4(e), upon execution of this Agreement and within three (3)&nbsp;Trading
Days after each Representation Date (without duplication). For the avoidance of doubt, the Company may not deliver an Agency Transaction
Notice in the period following a Representation Date and prior to delivery of the certificate as set out in this Section&nbsp;3(n). The
requirement to furnish the certificate described in this Section&nbsp;3(n)&nbsp;shall be waived for any Representation Date occurring
at a time at which no Agency Transaction Notice is pending or in effect, which waiver shall continue until the earlier to occur of the
date the Company delivers an Agency Transaction Notice hereunder (which for such calendar quarter shall be considered a Representation
Date) and the next occurring Representation Date. Notwithstanding the foregoing, if the Company subsequently decides to sell Shares following
a Representation Date when the Company and the Partnership relied on such waiver, then before the Company delivers the Agency Transaction
Notice, or the Agents sell any Shares, the Company and the Partnership shall provide the Agents with the certificate set out in this
Section&nbsp;3(n).</P>

<P STYLE="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">(o)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Legal
Opinions/Negative Assurance Letters</I>. Upon execution of this Agreement and within three (3)&nbsp;Trading Days after any Representation
Date, the Company and the Partnership shall cause to be furnished to the Agents, dated the date the opinions are so furnished and addressed
to the Agents, in form and substance satisfactory to the Agents, acting reasonably, (i)&nbsp;the written opinion of Torys LLP, in their
capacity as Canadian counsel for the Company and the Partnership, as described in Section&nbsp;4(f), and other local Canadian counsel,
as required, (ii)&nbsp;the written opinion and a negative assurance letter of Torys LLP, in their capacity as U.S. counsel for the Company
and the Partnership, as described in Section&nbsp;4(f)&nbsp;(any portion of which may be combined with the written opinion in clause
(i)), (iii)&nbsp;the written opinion of Appleby (Bermuda) Limited, in their capacity as Bermudan counsel for the Partnership, as described
in Section&nbsp;4(f), and (iv)&nbsp;the written opinion of McMillan LLP, in their capacity as British Columbian counsel for the Company,
as described in Section&nbsp;4(f). For the avoidance of doubt, the Company may not deliver an Agency Transaction Notice in the period
following a Representation Date and prior to delivery of the opinions of counsel and negative assurance letter as set out in this Section&nbsp;3(o).
The requirement to furnish the documents set out in this Section&nbsp;3(o)&nbsp;shall be waived for any Representation Date occurring
at a time at which no Agency Transaction Notice is pending or in effect, which waiver shall continue until the earlier to occur of the
date the Company delivers an Agency Transaction Notice hereunder (which for such calendar quarter shall be considered a Representation
Date), and the next occurring Representation Date. Notwithstanding the foregoing, if the Company subsequently decides to sell Shares
following a Representation Date when the Company and the Partnership relied on such waiver, then before the Company delivers the Agency
Transaction Notice, or the Agents sell any Shares, the Company and the Partnership shall provide the Agents with each of the documents
set out in this Section&nbsp;3(o).</P>

<P STYLE="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: justify; text-indent: 1in">(p)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Comfort
Letters</I>. Upon execution of this Agreement and within three (3)&nbsp;Trading Days after each Representation Date, the Company and
the Partnership shall cause their auditors to furnish to the applicable Agent a &ldquo;comfort letter&rdquo; (the &ldquo;<U>Comfort Letter</U>&rdquo;)
dated the date the Comfort Letter is delivered, in form and substance satisfactory to the applicable Agents, acting reasonably, addressed
to the applicable Agents, relating to the verification of certain of the financial information relating to (i)&nbsp;the Company and its
consolidated subsidiaries and (ii)&nbsp;the Partnership and its consolidated subsidiaries, in each case, that are contained in the Registration
Statement and the Prospectuses, as applicable, or incorporated by reference therein, which Comfort Letter shall be based on a review
having a cut-off date not more than two (2)&nbsp;business days prior to the date of such letter, (i)&nbsp;stating that such auditors
are independent public accountants within the meaning of Canadian Securities Laws and the Act, and that in their opinion the audited
financial statements of the Company and the Partnership incorporated by reference in the Registration Statement and the Prospectuses,
as applicable, comply as to form in all material respects with the published accounting requirements of Canadian Securities Laws, the
Act and with the applicable accounting requirements of Canadian Securities Laws, the Act and the Exchange Act and the related published
rules&nbsp;and regulations adopted by the Securities Commissions (the first such letter, the &ldquo;<U>Initial Comfort Letter</U>&rdquo;)
and (ii)&nbsp;updating the Initial Comfort Letter with any information which would have been included in the Initial Comfort Letter had
they been given on such date and modified as necessary to relate to the Registration Statement and the Prospectuses, as applicable, as
amended and supplemented to the date of such letter. For the avoidance of doubt, the Company may not deliver an Agency Transaction Notice
in the period following a Representation Date and prior to delivery of the Comfort Letter as set out in this Section&nbsp;3(o). The requirement
to furnish the documents set out in this Section&nbsp;3(p)&nbsp;shall be waived for any Representation Date occurring at a time at which
no Agency Transaction Notice is pending or effective, which waiver shall continue until the earlier to occur of the date the Company
delivers an Agency Transaction Notice hereunder (which for such calendar quarter shall be considered a Representation Date), and the
next occurring Representation Date. Notwithstanding the foregoing, if the Company subsequently decides to sell Shares following a Representation
Date when the Company and the Partnership relied on such waiver, then before the Company delivers the Agency Transaction Notice or the
Agents sell any Shares, the Company and the Partnership shall provide the Agents with the applicable documents set out in this Section&nbsp;3(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"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(q)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Market
Activities</I>. The Company and the Partnership will not, directly or indirectly, (i)&nbsp;take any action designed to or that would
constitute or that might reasonably be expected to cause or result in, under Canadian Securities Laws or the Exchange Act or otherwise,
stabilization or manipulation of the price of any security of the Company or the Partnership to facilitate the sale or resale of the
Shares or (ii)&nbsp;sell, bid for, or purchase the Shares, or pay anyone any compensation for soliciting purchases of the Shares other
than the Agents; <I>provided</I>, <I>however</I>, that the Company may bid for and purchase its Exchangeable Shares and the Partnership
may bid for and purchase its Units in accordance with Rule&nbsp;10b-18 under the Exchange Act or normal course issuer bids under applicable
Canadian Securities Laws; provided, further, that no such bids or purchases shall be made by the Partnership during the period commencing
two (2)&nbsp;Trading Days before any sale of Shares pursuant to this Agreement and ending on the date of closing of any sale of Shares
Pursuant to 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; text-align: justify; text-indent: 1in">(r)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Investment
Company Act</I>. Each of the Company and the Partnership will conduct its affairs in such a manner so as to reasonably ensure that prior
to the termination of this Agreement, it will not be or become required to register as an &ldquo;investment company&rdquo; under the
Investment Company Act and the rules&nbsp;and regulations of the Commission promulgated thereunder. Upon execution of this Agreement,
and annually in connection with the filing of the annual report on Form&nbsp;20-F by each of the Company and the Partnership, the Company
and the Partnership shall cause to be furnished to the Agents, dated the date the opinions are so furnished and addressed to the Agents
with respect to the Representation Date for such annual report filings, in form and substance satisfactory to the Agents, acting reasonably,
a written opinion of special Investment Company Act counsel for the Company and the Partnership, in form and substance reasonably satisfactory
to the Agents.</P>

<P STYLE="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">(s)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Offer
to Refuse to Purchase</I>. If to the knowledge of the Company or the Partnership any condition set forth in Section&nbsp;4 of this Agreement
shall not have been satisfied on the applicable Settlement Date, the Company shall offer to any person who has agreed to purchase Shares
from the Company as the result of an offer to purchase solicited by the Agents the right to refuse to purchase and pay for such Shares.</P>

<P STYLE="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">(t)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Consent
to the Agents&rsquo; Trading</I>. The Company and the Partnership consent to the extent permitted under the Act, the Exchange Act, Canadian
Securities Laws and the rules&nbsp;of the Exchanges, to the Agents trading in the Exchangeable Shares: (i)&nbsp;for the account of their
clients at the same time as sales of Shares occur pursuant to this Agreement; and (ii)&nbsp;for the Agents&rsquo; own accounts, provided
that in the case of clauses (i)&nbsp;and (ii), by providing such consent, the Company and the Partnership will incur no liability on
behalf of the Agents or their clients resulting from such trading activity.</P>

<P STYLE="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">(u)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Agents&rsquo;
Market Activities</I>. For greater certainty, nothing in this Agreement shall restrict any Agent or any of its affiliates from acting
as dealer-manager, broker or agent in connection with any normal course issuer bid or other repurchase program of the Company or the
Partnership, or from effecting transactions in the Exchangeable Shares or Units in connection with any such program in accordance with
Applicable Securities Laws and the rules&nbsp;of the Exchanges; provided that any such activities shall be conducted in a manner designed
to ensure compliance with the Applicable Securities Laws and the rules&nbsp;of the Exchanges, and shall not be undertaken for the purpose
of stabilizing or maintaining the market price of the Exchangeable Shares or Units or otherwise facilitating the distribution of the
Shares 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"></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">(v)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Actively-Traded
Security</I>. The Company shall notify the Agents promptly by an email addressed to each of the respective individuals from each of the
Agents set forth on <U>Schedule 1</U> attached hereto if the Exchangeable Shares cease to qualify as an &ldquo;actively-traded security&rdquo;
exempted from the requirements of Rule&nbsp;101 of Regulation M under the Exchange Act by subsection (c)(1)&nbsp;of such rule&nbsp;and
the sales shall be suspended until that or other exemptive provisions have been satisfied in the judgment of each party.</P>

<P STYLE="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">(w)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Distribution
of Offering Materials</I>. Neither the Company nor the Partnership has distributed or will distribute, during the term of this Agreement,
any offering material, term sheets or &ldquo;marketing materials&rdquo; (as defined in National Instrument 41-101 &ndash; <I>General
Prospectus Requirements</I>) in connection with the offering and sale of the Shares other than the Registration Statement or the Prospectuses
reviewed and consented to by the Agents and included in an Agency Transaction Notice, provided that the Canadian Agents, severally and
not jointly, covenant with the Company and the Partnership not to take any action that would result in the Company or the Partnership
being required to file with the Canadian Qualifying Authorities any &ldquo;marketing materials&rdquo; that otherwise would not be required
to be filed by the Company or the Partnership, but for the action of the Canadian Agents.</P>

<P STYLE="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">4.<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Conditions
to the Agents&rsquo; Obligations</U>. The obligations of the Agents hereunder are subject to (i)&nbsp;the accuracy of the representations
and warranties of the Company and the Partnership on the date hereof, on each Representation Date and as of each Time of Sale, each Settlement
Date and at each Amendment Date, (ii)&nbsp;the performance by each of the Company and the Partnership of its obligations hereunder and
(iii)&nbsp;the following additional 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; text-indent: 1in">(a)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>U.S.
Prospectus Supplement</I>. The U.S. Prospectus Supplement shall have been filed with the Commission pursuant to Rule&nbsp;424(b)&nbsp;under
the Act within the applicable time period prescribed for such filing and in accordance with this Agreement and no stop order suspending
the effectiveness of the Registration Statement or any part thereof shall have been issued and no order preventing or suspending the
use of any prospectus relating to the Exchangeable Shares shall have been issued and no proceeding for any such purposes shall have been
initiated or threatened by the Commission and no order, ruling or determination having the effect of ceasing or suspending trading in
the Exchangeable Shares or any other securities of the Company or the Partnership shall have been 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: 1in">(b)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Canadian
Prospectus Supplement</I>. The Canadian Prospectus Supplement shall have been filed with the Canadian Qualifying Authorities under the
Shelf Procedures and in accordance with this Agreement and all requests for additional information on the part of the Canadian Qualifying
Authorities shall have been complied with to the reasonable satisfaction of the Agents and the Agents&rsquo; counsel.</P>

<P STYLE="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">(c)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>No
Material Adverse Change in Business. </I>Except as disclosed in the Registration Statement, the Disclosure Package or the Prospectuses,
since the date of the most recent audited financial statements of the Company and the Partnership incorporated by reference therein,
(A)&nbsp;there has been no change and there is no prospective change that would have a Material Adverse Effect, (B)&nbsp;there have been
no transactions entered into by the Partnership Entities, other than those in the ordinary course of business, which are material with
respect to the Partnership 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 the Company or the Partnership on any class or series of their
respective 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"></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">(d)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>No
Material Notices</I>. None of the following events shall have occurred and be continuing: (i)&nbsp;receipt by the Company or the Partnership
of any request for additional information from the Securities Commissions or any other federal or state or foreign or other governmental,
administrative or self-regulatory authority during the period of effectiveness of the Registration Statement and the Prospectuses, the
response to which would require any amendments or supplements to the Registration Statement or the Prospectuses; (ii)&nbsp;the issuance
by the Securities Commissions or any other federal or state or foreign or other governmental authority of any stop order suspending the
effectiveness of the Registration Statement or the Prospectuses or the initiation of any proceedings for that purpose; (iii)&nbsp;receipt
by the Company or the Partnership of any notification with respect to the suspension of the qualification or exemption from qualification
of any of the Shares for sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose; (iv)&nbsp;the
occurrence of any event that makes any statement made in the Registration Statement or the Prospectuses or any document incorporated
or deemed to be incorporated therein by reference untrue in any material respect or that requires the making of any changes in the Registration
Statement, the Prospectuses or any document incorporated or deemed to be incorporated therein by reference so that, in the case of the
Registration Statement, it will 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 not misleading, and in the case of each of the Prospectuses, it will 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; and (v)&nbsp;the Company&rsquo;s and the Partnership&rsquo;s
reasonable determination, communicated to the Agents in writing, that a post-effective amendment to the Registration Statement or Prospectuses
would be 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; text-align: justify; text-indent: 1in">(e)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Officers&rsquo;
Certificates</I>. Upon execution of this Agreement and on or before the date on which such delivery is required pursuant to Section&nbsp;3(n),
the Agents shall have received one or more accurate certificates, dated such date and signed on behalf of the Company and the General
Partner on behalf of the Partnership, in each case by any two officers satisfactory to the Agents, in form and substance satisfactory
to the Agents, acting reasonably, to the effect that the signatory of such certificate has reviewed the Registration Statement, the Prospectuses
(including any documents filed under the Exchange Act and Canadian Securities Laws and deemed to be incorporated by reference into the
Prospectuses) and to the best knowledge of the signatory, after due investigation:</P>

<P STYLE="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: 1.5in">(i)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>The
representations and warranties of the Company and the Partnership contained in this Agreement are, as of such date, true and correct
in all material respects, other than those that are qualified by materiality, which shall be true and correct in all respects, with the
same force and effect as if made at and as of the date of execution of this Agreement, except for such representations and warranties
that speak solely as of a specific date which were true and correct in all material respects as of 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"></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: 1.5in">(ii)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>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 the Partnership has been issued in the United States or any of the Qualifying
Jurisdictions and no proceedings for such purpose are pending, contemplated or threatened; 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: 1.5in">(iii)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>Each
of the Company and the Partnership has complied with all terms and conditions of this Agreement on its part to be performed or satisfied
on or prior to 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; text-align: justify; text-indent: 1in">(f)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Legal
Opinions/Negative Assurance Letters</I>. The Agents shall have received the opinions of counsel and negative assurance letter to be delivered
pursuant to Section&nbsp;3(o)&nbsp;on or before the date on which such delivery of such opinions or negative assurance letter are required
pursuant to Section&nbsp;3(o). In addition, on such dates that the opinions required by Section&nbsp;3(o)&nbsp;are delivered, the Agents
shall have also received the opinion and negative assurance letter of Milbank LLP, U.S. counsel to the Agents, and the opinion of Goodmans
LLP, Canadian counsel to the Agents, with respect to such matters as the Agents may reasonably require, it being understood that counsel
for the Agents and counsel for the Company and the Partnership may rely upon the opinions of local counsel as to all matters not governed
by the laws of the respective jurisdictions in which they are qualified to practice, and may rely, to the extent appropriate in the circumstances,
as to matters of fact on certificates of the Company and the Partnership, auditors and public officials, and that the opinions of counsel
may be subject to usual qualifications as to equitable remedies, creditors&rsquo; rights laws and public policy considerations<I>.</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; text-align: justify; text-indent: 1in">(g)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Comfort
Letters</I>. The Agents shall have received the Comfort Letter required to be delivered pursuant to Section&nbsp;3(p)&nbsp;on or before
the date on which such delivery of such letter is required pursuant to Section&nbsp;3(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: justify; text-indent: 1in">(h)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Due
Diligence</I>. The Company and the Partnership shall have complied with all of their due diligence obligations required pursuant to Section&nbsp;3(j).</P>

<P STYLE="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">(i)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Stock
Exchange Listing</I>. (i)&nbsp;The Shares (and the Units issuable on the exchange thereof) shall have been duly authorized for listing
on the Exchanges, subject only to notice of issuance at or prior to the applicable Settlement Date or (ii)&nbsp;the Company and the Partnership
shall have filed an application for listing of the Shares (and the Units issuable on the exchange thereof) on the Exchanges at, or prior
to, the delivery of any Agency Transaction Notice. The Company and the Partnership will maintain the listing of the Shares and the Units,
respectively, on the Exchanges and the Company will keep available, at all times, free of preemptive rights, Shares for the purpose of
enabling the Company to satisfy its obligations 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; text-align: justify; text-indent: 1in">(j)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Securities
Act Filings Made</I>. All filings with the Commission required by the Act and required by the Canadian Qualifying Authorities to have
been filed prior to the issuance of any Agency Transaction Notice hereunder shall have been made within the applicable time period prescribed
for such filing by the Act and Canadian Securities Laws.</P>

<P STYLE="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">(k)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>FINRA.
</I>If a filing with the Financial Industry Regulatory Authority,&nbsp;Inc. (&ldquo;<U>FINRA</U>&rdquo;) is required, FINRA shall not
have objected to the fairness or reasonableness of the terms or arrangements 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; text-align: justify; text-indent: 1in">(l)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Regulation
M</I>. The Exchangeable Shares shall qualify as an &ldquo;actively-traded security&rdquo; excepted from the requirements of Rule&nbsp;101
of Regulation M under the Exchange Act by subsection (c)(1)&nbsp;of such rule.</P>

<P STYLE="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">(m)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Additional
Certificates</I>. Each of the Company and the Partnership shall have furnished to the Agents such certificate or certificates of the
Company and the Partnership, as applicable, in addition to those specifically mentioned herein, as the Agents may have reasonably requested
as to the accuracy and completeness at each Representation Date of any statement in the Registration Statement or the Prospectuses or
any documents filed under the Exchange Act and Canadian Securities Laws and deemed to be incorporated by reference into the Prospectuses,
as to the accuracy at such Representation Date of the representations and warranties of the Company and the Partnership herein, as to
the performance by the Company and the Partnership of their obligations hereunder, or as to the fulfillment of the conditions concurrent
and precedent to the obligations hereunder of the Agents.</P>

<P STYLE="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">(n)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Transfer
Agent</I>. The Company shall engage and maintain, at its expense, a registrar and transfer agent for the Shares.</P>

<P STYLE="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">(o)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Press
Release</I>. Concurrently with the execution of this Agreement, the Company shall have issued and disseminated, and filed with the Canadian
Qualifying Authorities in compliance with NI 44-102, a news release (i)&nbsp;announcing that the Company and the Partnership have entered
into this Agreement, (ii)&nbsp;indicating that the Prospectus Supplements have been or will be filed and (iii)&nbsp;specifying where
and how a purchaser of Shares may obtain a copy of this Agreement and the Prospectus Supplements. Promptly after the execution of this
Agreement, and in any event before any sales of Shares are made hereunder, the Company and the Partnership shall file this Agreement
with the Canadian Qualifying Authorities in accordance with applicable Canadian Securities Laws.</P>

<P STYLE="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">Notwithstanding the foregoing,
the requirements described in this Section&nbsp;4 shall be waived for any Representation Date occurring at a time at which no Agency
Transaction Notice is pending or in effect, which waiver shall continue until the earlier to occur of the date the Company delivers an
Agency Transaction Notice hereunder (which for such calendar quarter shall be considered a Representation Date) and the next occurring
Representation Date. Notwithstanding the foregoing, if the Company subsequently decides to sell Shares following a Representation Date
when the Company and the Partnership relied on such waiver, then before the Company delivers the Agency Transaction Notice, or the Agents
sell any Shares, the Company and the Partnership shall comply with the requirements described in this Section&nbsp;4.</P>

<P STYLE="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">5.<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Indemnification
and Contribution</U>.</P>

<P STYLE="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">(a)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>Each
of the Company and the Partnership shall, jointly and severally, indemnify and hold harmless each of the Agents and the Agent&rsquo;s
directors, officers and employees and each person who controls any Agent within the meaning of Section&nbsp;15 of the Act or Section&nbsp;20
of the Exchange Act (for the purposes of this Section&nbsp;5, the &ldquo;<B>Indemnified Agent Parties</B>&rdquo;) from and against all
liabilities, claims, demands, losses (other than loss of profit in connection with the distribution of the Shares), 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:</P>

<P STYLE="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: 1.5in">(i)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>any
breach of or default under any representation, warranty, covenant or agreement of the Company or the Partnership in this Agreement or
any other document delivered pursuant hereto or thereto, or the failure of the Company or the Partnership to comply with any of its obligations
hereunder or thereunder;</P>

<P STYLE="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: 1.5in">(ii)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>any
information or statement in the Registration Statement, the Disclosure Package and the Prospectuses, or any amendments thereto or any
other material filed in compliance or intended compliance with Applicable Securities Laws being or being alleged to be a misrepresentation
or untrue, or any omission or alleged omission to state therein any information;</P>

<P STYLE="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: 1.5in">(iii)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>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;</P>

<P STYLE="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: 1.5in">(iv)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>any
untrue statement or alleged untrue statement of a material fact included in the Registration Statement, the Disclosure Package, the Prospectuses,
any amendment or supplement to any of the foregoing, or any other material filed in compliance or intended compliance with Applicable
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;</P>

<P STYLE="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: 1.5in">(v)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>the
Company or the Partnership not complying with any requirement of Applicable Securities Laws, or any breach or violation or alleged breach
or violation of any Applicable Securities Laws or other applicable securities legislation of any jurisdiction; or</P>

<P STYLE="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: 1.5in">(vi)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>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 Agents)
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 Shares or any other securities of the Company or the Partnership in the United States or the Canadian Qualifying Jurisdictions,</P>

<P STYLE="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"><I>provided </I>that the Company
and the Partnership shall not be liable for indemnification under this Section&nbsp;5(a)&nbsp;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 Registration Statement, the Disclosure Package and
the Prospectuses, any amendment or supplement to any of the foregoing, or in any other material so filed in reliance upon and in conformity
with information in respect of any of the Agents furnished in writing to the Company and the Partnership by the Agents specifically for
inclusion in such document, it being understood and agreed that the only such information furnished by any Agent consists of the &ldquo;Agent
Information&rdquo; described in Section&nbsp;5(c)&nbsp;below.</P>

<P STYLE="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)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>If
any of the Indemnified Agent Parties incurs or suffers any loss, claim, demand, damage, cost, expense or liability (other than loss of
profit) caused by or arising directly or indirectly by reason of any circumstance described in Section&nbsp;5(a)&nbsp;in respect of which
the Company or the Partnership would be obligated to indemnify pursuant to that Section&nbsp;and is indemnified (pursuant to a legal
obligation or otherwise) in respect thereof by any of the Agents, then such of the Agents who provided such indemnity shall be protected
and indemnified by the Company or the Partnership to the extent thereof. It is intended that the rights to indemnity provided in Section&nbsp;5(a)&nbsp;be
held in trust by the Agents for the benefit of the Indemnified Agent Parties other than the Agents.</P>

<P STYLE="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">(c)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>Each
Agent agrees, severally and not jointly, to indemnify and hold harmless the Company, the Partnership, their directors and officers
who signed the Registration Statement or the Canadian Prospectus Supplement and each person who controls the Company or the
Partnership within the meaning of Section&nbsp;15 of the Act or Section&nbsp;20 of the Exchange Act (for the purposes of this
Section&nbsp;17, the &ldquo;<B>Indemnified Partnership Parties</B>&rdquo; and together with the Indemnified Agent Parties, the
 &ldquo;<B>Indemnified Parties</B>&rdquo;) to the same extent as the indemnity set forth in 5(a)(iii)&nbsp;and 5(a)(iv)&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 and the Partnership by any Agent expressly
for use in the Registration Statement, the Disclosure Package, the Prospectuses or any other material filed in compliance or
intended compliance with Applicable Securities Laws, it being understood and agreed that the only such information furnished by any
Agent consists of the names of the Agents set forth on the cover page and the following information under the heading &ldquo;Plan of
Distribution&rdquo; in the U.S. Prospectus Supplement and the Canadian Prospectus Supplement, to the extent applicable, furnished on
behalf of each Agent: the information related to relationships between the Agents, on the one hand, and the Company and/or the
Partnership, on the other hand, contained in the twelfth paragraph thereunder (the &ldquo;<B>Agent Information</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: 1in">(d)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>In
order to provide for just and equitable contribution in circumstances in which the indemnification provided for in Sections 5(a)&nbsp;and
5(b)&nbsp;are unavailable, in whole or in part, for any reason to an Indemnified Agent Party in respect of any liabilities, claims, demands,
losses, costs, damages and expenses referred to therein, the Company and the Partnership 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 Agent Party as a result of such liabilities, claims, demands, losses, costs, damages and expenses:</P>

<P STYLE="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: 1.5in">(i)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>in
such proportion as is appropriate to reflect the relative benefits received by the Company and the Partnership, on the one hand, and
the Agent, on the other hand, from the sale of the Shares; or</P>

<P STYLE="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: 1.5in">(ii)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>if
the allocation provided by clause (i)&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 (i)&nbsp;above but also the relative fault of the Company and the Partnership, on
the one hand, and the Agents, on the other hand, in connection with the matters or things referred to in Section&nbsp;5(a)&nbsp;which
resulted in such liabilities, claims, demands, losses, costs, damages or expenses, as well as any other relevant equitable considerations,</P>

<P STYLE="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"><I>provided </I>that the Agents
shall not in any event be liable to contribute, in the aggregate, any amount in excess of any Agents Fees or any portion thereof actually
received. The relative benefits received by the Company and the Partnership, on the one hand, and the Agents, on the other hand, shall
be deemed to be in the same ratio as the total proceeds from the sale of the Shares (net of the Agents Fees payable to the Agents but
before deducting expenses) received by the Company is to the Agents Fees received by the Agents. The relative fault of the Company and
the Partnership on the one hand and of the Agents on the other hand shall be determined by reference to, among other things, whether
the matters or things referred to in Section&nbsp;5(a)&nbsp;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
or the Partnership or to information supplied by or steps or actions taken or done or not taken or done by or on behalf of the Agents
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;5(a). The amount paid or payable by an Indemnified Agent 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 Agent 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;5(d)&nbsp;were determined by any method of allocation which does
not take into account the equitable considerations referred to in this Section&nbsp;5(d). Notwithstanding the provisions of this Section&nbsp;5(d),
in no event shall an Agent be required to contribute any amount in excess of the amount by which the total Agent Fees received by such
Agent exceeds the amount of any damages that such Agent 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 Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The Agents&rsquo;
obligations to contribute pursuant to this Section&nbsp;5(d)&nbsp;are several in proportion to the respective number of Shares they have
sold 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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(e)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>If
any claim contemplated by this Section&nbsp;5 shall be asserted against any Indemnified Party, the Indemnified Party concerned shall
promptly notify the Company and the Partnership or the Agents, as applicable (referred to interchangeably for purposes of this Section&nbsp;5
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;5 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 defence of any suit or proceeding (including any governmental or regulatory investigation or proceeding) brought
to enforce such claim. Any such defence 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 defence 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 defence 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 defences 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 defence 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 Partnership to constitute each of the Agents as trustees for the Agents&rsquo; directors, officers, employees, affiliates and
persons who control any of the Agents, of the covenants of the Company and the Partnership under Section&nbsp;5(a)&nbsp;with respect
to the Indemnified Parties and the Agents 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.</P>

<P STYLE="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">(f)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>Each
of the Company and the Partnership waives all right of contribution by statute or common law which it may have against the Agents in
respect of losses, claims, costs, damages or liabilities which it may sustain as a direct or indirect consequence of the Registration
Statement, the Disclosure Package, the Prospectuses, any amendment or supplement to any of the foregoing, or any other material filed
in compliance or intended compliance with Applicable Securities Laws or any other document containing or being alleged to contain a misrepresentation;
<I>provided </I>that such right against any one of the Agents is not waived in respect of losses, claims, demands, costs, damages, expenses
or liabilities sustained as a direct or indirect consequence of the Canadian Prospectus or any other document containing a misrepresentation
of which such Agent was aware of at the time it signed the Canadian Prospectus or any amendment to the Canadian Prospectus or a misrepresentation
made in reliance upon and in conformity with &ldquo;Agent Information&rdquo; described in Section&nbsp;5(c).</P>

<P STYLE="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">(g)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>The
rights provided in this Section&nbsp;5 shall be in addition to and not in derogation of any other right which the Agents may have by
statute or otherwise at law.</P>

<P STYLE="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">6.<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Termination</U>.</P>

<P STYLE="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">(a)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>The
Company and the Partnership may terminate this Agreement in their sole discretion at any time upon giving prior written notice to the
Agents. Any such termination shall be without liability of any party to the other parties, except that (i)&nbsp;with respect to any pending
sale, the obligations of the Company and the Partnership, including, without limitation, in respect of compensation of the Agents, and
the obligations of the Agents in respect of such pending sale shall remain in full force and effect notwithstanding such termination;
and (ii)&nbsp;the provisions of Sections 1 (<I>Representations and Warranties</I>), 3(g)&nbsp;(<I>Expenses</I>), 5 (<I>Indemnification
and Contribution</I>), 7(b)&nbsp;(<I>Applicable Law</I>), 7(c)&nbsp;(<I>Submission to Jurisdiction</I>), 7(f)&nbsp;(<I>Representations
and Indemnities to Survive</I>) and 7(m)&nbsp;(<I>Waiver of Jury Trial</I>) of this Agreement shall remain in full force and effect notwithstanding
such termination.</P>

<P STYLE="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)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>Any
Agent may terminate its obligations under this Agreement solely with respect to such Agent in its sole discretion at any time upon giving
prior written notice to the Company and the Partnership. Any such termination shall be without liability of any party to another party,
except that (i)&nbsp;with respect to any pending sale, the obligations of the Company and the Partnership, including, without limitation,
in respect of compensation of the Agents, and the obligations of the Agents in respect of such pending sale shall remain in full force
and effect notwithstanding such termination; and (ii)&nbsp;the provisions of Sections 1 (<I>Representations and Warranties</I>), 3(g)&nbsp;(<I>Expenses</I>),
5 (<I>Indemnification and Contribution</I>), 7(b)&nbsp;(<I>Applicable Law</I>), 7(c)&nbsp;(<I>Submission to Jurisdiction</I>), 7(f)&nbsp;(<I>Representations
and Indemnities to Survive</I>) and 7(m)&nbsp;(<I>Waiver of Jury Trial</I>) of this Agreement shall remain in full force and effect notwithstanding
such termination.</P>

<P STYLE="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">(c)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>Unless
previously terminated pursuant to this Section&nbsp;6, this Agreement shall remain in full force and effect until the earliest to occur
of (i)&nbsp;termination of this Agreement pursuant to Section&nbsp;6(a)&nbsp;or 6(b)&nbsp;above or otherwise by mutual written agreement
of the parties, (ii)&nbsp;such date that the aggregate gross sales proceeds of the Shares sold pursuant to this Agreement equals the
Maximum Amount and (iii)&nbsp;February&nbsp;28, 2027 (such date being the expiration date of the Canadian Base Prospectus) in each case
except that (x)&nbsp;with respect to any pending sale, the obligations of the Company, including, without limitation, in respect of compensation
of the Agents, and the obligations of the Agents in respect of such pending sale shall remain in full force and effect notwithstanding
such termination; and (y)&nbsp;the provisions of Sections 1 (<I>Representations and Warranties</I>), 3(g)&nbsp;(<I>Expenses</I>), 5 (<I>Indemnification
and Contribution</I>), 7(b)&nbsp;(<I>Applicable Law</I>), 7(c)&nbsp;(<I>Submission to Jurisdiction</I>), 7(f)&nbsp;(<I>Representations
and Indemnities to Survive</I>) and 7(m)&nbsp;(<I>Waiver of Jury Trial</I>) of this Agreement shall remain in full force and effect notwithstanding
such termination.</P>

<P STYLE="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">(d)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>Any
termination of this Agreement shall be effective on the date specified in the notice of termination; <I>provided </I>that such termination
shall not be effective until the close of business on the date of receipt of such notice by the Agents or the Company and the Partnership,
as the case may be. If such termination shall occur prior to the Settlement Date for any sale of Shares, such sale shall settle in accordance
with the provisions of 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"></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">7.<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Miscellaneous</U>.</P>

<P STYLE="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">(a)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>No
Advisory or Fiduciary Responsibility</I>. The Company and the Partnership acknowledge and agree that: (i)&nbsp;the sale of the Shares
pursuant to this Agreement, including the determination of the terms of the offering and any related commissions, is an arm&rsquo;s-length
commercial transaction between the Company and the Partnership, on the one hand, and the several Agents, on the other hand, and the Company
and the Partnership are each capable of evaluating and understanding and understands and accepts the terms, risks and conditions of the
transactions contemplated by this Agreement; (ii)&nbsp;in connection with the offer and sale of the Shares as contemplated hereby and
the process leading to such transaction, the Agents owe no fiduciary duties to the Company, the Partnership or their respective affiliates,
stockholders, creditors, employees or any other party; (iii)&nbsp;no Agent has assumed or will assume an advisory or fiduciary responsibility
in favor of the Company and the Partnership with respect to the offer and sale of the Shares as contemplated hereby or the process leading
thereto (irrespective of whether such Agent has advised or is currently advising the Company or the Partnership on other matters) and
no Agent has any obligation to the Company or the Partnership with respect to the offering contemplated hereby except the obligations
expressly set forth in this Agreement; (iv)&nbsp;the several Agents and their respective affiliates may be engaged in a broad range of
transactions that involve interests that differ from those of the Company and the Partnership and that the several Agents have no obligation
to disclose to the Company or the Partnership any of such interests by virtue of any advisory, agency or fiduciary relationship; and
(v)&nbsp;the Agents have not provided any legal, accounting, regulatory or tax advice with respect to the offering contemplated hereby
and the Company and the Partnership have consulted their own legal, accounting, regulatory and tax advisors to the extent it deemed appropriate.
This Agreement supersedes all prior agreements and understandings (whether written or oral) between the Company, the Partnership and
the several Agents, or any of them, with respect to the subject matter hereof. The Company and the Partnership hereby waive and release,
to the fullest extent permitted by law, any claims that the Company or the Partnership may have against the several Agents with respect
to any breach or alleged breach of fiduciary duty.</P>

<P STYLE="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)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Applicable
Law. </I>This Agreement will be governed by and construed in accordance with the laws of the State of New York.</P>

<P STYLE="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">(c)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Submission
to Jurisdiction. </I>Each of the Company and the Partnership 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 Partnership 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 Partnership irrevocably
appoints Brookfield Infrastructure US Holdings I Corporation 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 and/or the Partnership, as applicable, by the person serving the same to the address provided in Section&nbsp;7(h),
shall be deemed in every respect effective service of process upon the Company and/or the Partnership, as applicable, in any such suit
or proceeding. Each of the Company and the Partnership 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 (7)&nbsp;years from the date of 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"></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">(d)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Judgment
Currency</I>. The obligation of the Company and the Partnership in respect of any sum due to any Agent in United States dollars shall,
notwithstanding any judgment in a currency other than United States dollars, not be discharged until the first business day following
receipt by such Agent of any sum adjudged to be so due in such other currency, on which (and only to the extent that) such Agent may
in accordance with normal banking procedures purchase United States dollars with such other currency; if the United States dollars so
purchased are less than the sum originally due to such Agent hereunder, the Company and the Partnership agree, as a separate obligation
and notwithstanding any such judgment, to indemnify such Agent against such loss. If the United States dollars so purchased are greater
than the sum originally due to such Agent hereunder, such Agent agrees to pay to the Company or the Partnership, as applicable, an amount
equal to the excess of the dollars so purchased over the sum originally due to such Agent hereunder.</P>

<P STYLE="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">(e)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Compliance
with USA Patriot Act</I>. In accordance with the requirements of the USA PATRIOT Act (Title III of Pub. L. 107-56 (signed into law on
October&nbsp;26, 2001)), the Agents are required to obtain, verify and record information that identifies their respective clients, including
the Company, which information may include the name and addresses of their respective clients, as well as other information that will
allow the Agents to properly identify their respective clients.</P>

<P STYLE="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">(f)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Representations
and Indemnities to Survive</I>. 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 will survive delivery of and payment for the
Shares; <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 Shares.</P>

<P STYLE="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">(g)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Notices</I>.
Any notices or other communication that may be required or desired to be given pursuant to this Agreement may be given in writing by
telecopier or by hand delivery, delivery or other charges prepaid, 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: 1.5in">(i)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>in
the case of notice to the Company and the Partnership, be addressed 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">Brookfield Infrastructure Corporation<BR>
250 Vesey Street, 15th Floor<BR>
New York, NY 10281</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&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: 11%"></TD><TD STYLE="padding-left: 0.03in; width: 10%; text-align: left">Attention:</TD><TD STYLE="text-align: justify; width: 79%">Corporate
                                            Secretary</TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="padding-left: 0.03in; text-align: left"><FONT STYLE="font-size: 10pt">Telecopy:</FONT></TD><TD STYLE="text-align: justify">[Redacted]</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="padding-left: 0.03in; text-align: left">Email:</TD><TD STYLE="text-align: justify">[Redacted]</TD></TR>
     </TABLE>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Brookfield Infrastructure Partners L.P.<BR>
73 Front Street, 5<SUP>th</SUP> Floor<BR>
Hamilton, HM 12<BR>
Bermuda</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: 11%">&nbsp;</TD>
    <TD STYLE="padding-left: 0.03in; width: 10%; text-align: left">Attention:</TD>
    <TD STYLE="text-align: justify; width: 79%">Corporate Secretary</TD></TR>
  <TR STYLE="vertical-align: top; text-align: justify">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.03in; text-align: left">Telecopy:</TD>
    <TD STYLE="text-align: justify">[Redacted]</TD></TR>
  <TR STYLE="vertical-align: top; text-align: justify">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.03in; text-align: left">Email:</TD>
    <TD STYLE="text-align: justify">[Redacted]</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">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>
23<SUP>rd</SUP> Floor<BR>
New York, New York 10036-7703<BR>
U.S.A.</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: 11%">&nbsp;</TD>
    <TD STYLE="padding-left: 0.03in; width: 10%; text-align: left">Attention:</TD>
    <TD STYLE="text-align: justify; width: 79%">Mile Kurta and Chris Bornhorst</TD></TR>
  <TR STYLE="vertical-align: top; text-align: justify">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.03in; text-align: left">Telecopy:</TD>
    <TD STYLE="text-align: justify">[Redacted]</TD></TR>
  <TR STYLE="vertical-align: top; text-align: justify">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.03in; text-align: left">Email:</TD>
    <TD STYLE="text-align: justify">[Redacted] and [Redacted]</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: 1.5in">(ii)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>in
the case of notice to the Agents, be addressed 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">RBC Dominion Securities Inc.<BR>
2nd Floor, North Tower<BR>
Royal Bank Plaza, 200 Bay Street<BR>
Toronto, Ontario M5J 2W7</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: 11%">&nbsp;</TD>
    <TD STYLE="padding-left: 0.03in; width: 10%; text-align: left">Attention:</TD>
    <TD STYLE="text-align: justify; width: 79%">Ram Amarnath</TD></TR>
  <TR STYLE="vertical-align: top; text-align: justify">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.03in; text-align: left">Telecopy:</TD>
    <TD STYLE="text-align: justify">[Redacted]</TD></TR>
  <TR STYLE="vertical-align: top; text-align: justify">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.03in; text-align: left">Email:</TD>
    <TD STYLE="text-align: justify">[Redacted]</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">RBC Capital Markets, LLC<BR>
30 Hudson Street, 28th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Jersey City, New Jersey 07302-469</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: 11%">&nbsp;</TD>
    <TD STYLE="padding-left: 0.03in; width: 10%; text-align: left">Attention:</TD>
    <TD STYLE="text-align: justify; width: 79%">Ram Amarnath</TD></TR>
  <TR STYLE="vertical-align: top; text-align: justify">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.03in; text-align: left">Telecopy:</TD>
    <TD STYLE="text-align: justify">[Redacted]</TD></TR>
  <TR STYLE="vertical-align: top; text-align: justify">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.03in; text-align: left">Email:</TD>
    <TD STYLE="text-align: justify">[Redacted]</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">Scotia Capital Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">40 Temperance Street, 6th Floor</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Canada M5H 0B4</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: 11%">&nbsp;</TD>
    <TD STYLE="padding-left: 0.03in; width: 10%; text-align: left">Attention:</TD>
    <TD STYLE="text-align: justify; width: 79%">Arjun Taneja</TD></TR>
  <TR STYLE="vertical-align: top; text-align: justify">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.03in; text-align: left">Telecopy:</TD>
    <TD STYLE="text-align: justify">[Redacted]</TD></TR>
  <TR STYLE="vertical-align: top; text-align: justify">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.03in; text-align: left">Email:</TD>
    <TD STYLE="text-align: justify">[Redacted]</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 0pt 1in">Scotia Capital (USA) Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">250 Vesey Street</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">New York, New York 10281</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: 11%">&nbsp;</TD>
    <TD STYLE="padding-left: 0.03in; width: 10%; text-align: left">Attention:</TD>
    <TD STYLE="text-align: justify; width: 79%">David Boutry</TD></TR>
  <TR STYLE="vertical-align: top; text-align: justify">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.03in; text-align: left">Telecopy:</TD>
    <TD STYLE="text-align: justify">[Redacted]</TD></TR>
  <TR STYLE="vertical-align: top; text-align: justify">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.03in; text-align: left">Email:</TD>
    <TD STYLE="text-align: justify">[Redacted]</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 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">Goodmans LLP<BR>
Bay Adelaide Centre<BR>
333 Bay Street, Suite&nbsp;3400<BR>
Toronto, Ontario<BR>
M5H 2S7</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: 11%">&nbsp;</TD>
    <TD STYLE="padding-left: 0.03in; width: 10%; text-align: left">Attention:</TD>
    <TD STYLE="text-align: justify; width: 79%">Bill Gorman and Emily Ting</TD></TR>
  <TR STYLE="vertical-align: top; text-align: justify">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.03in; text-align: left">Telecopy:</TD>
    <TD STYLE="text-align: justify">(416) 979-1234</TD></TR>
  <TR STYLE="vertical-align: top; text-align: justify">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.03in; text-align: left">Email:</TD>
    <TD STYLE="text-align: justify">[Redacted] and [Redacted]</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">- 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 0pt 1in">Milbank LLP<BR>
55 Hudson Yards<BR>
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: 11%">&nbsp;</TD>
    <TD STYLE="padding-left: 0.03in; width: 10%; text-align: left">Attention:</TD>
    <TD STYLE="text-align: justify; width: 79%">Paul Denaro</TD></TR>
  <TR STYLE="vertical-align: top; text-align: justify">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.03in; text-align: left">Telecopy:</TD>
    <TD STYLE="text-align: justify">(212) 530-5000</TD></TR>
  <TR STYLE="vertical-align: top; text-align: justify">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.03in; text-align: left">Email:</TD>
    <TD STYLE="text-align: justify">[Redacted]</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: 1in">(h)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Recognition
of the U.S. Special Resolution Regimes</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; text-align: justify; text-indent: 1.5in">(i)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>In
the event that any Agent that is a Covered Entity becomes subject to a proceeding under a U.S. Special Resolution Regime, the transfer
from such Agent 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 the U.S. 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.</P>

<P STYLE="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: 1.5in">(ii)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>In
the event that any Agent that is a Covered Entity or a BHC Act Affiliate of such Agent becomes subject to a proceeding under a U.S. Special
Resolution Regime, Default Rights under this Agreement that may be exercised against such Agent are permitted to be exercised to no greater
extent than such Default Rights could be exercised under the U.S. Special Resolution Regime if this Agreement were governed by the laws
of the United States or a state of the United States.</P>

<P STYLE="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 0pt 1in; text-align: justify">As used in this Section:</P>

<P STYLE="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: 1.5in">&ldquo;<U>BHC Act Affiliate</U>&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; text-indent: 1.5in">&ldquo;<U>Covered Entity</U>&rdquo;
means any of the following:</P>

<P STYLE="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: 2in">a &ldquo;covered entity&rdquo;
as that term is defined in, and interpreted in accordance with, 12 C.F.R. &sect; 252.82(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: 2in">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</P>

<P STYLE="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: 2in">a &ldquo;covered FSI&rdquo;
as that term is defined in, and interpreted in accordance with, 12 C.F.R. &sect; 382.2(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; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&ldquo;<U>Default Right</U>&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; text-indent: 1.5in">&ldquo;U.S. Special Resolution
Regime&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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(i)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Counterparts</I>.
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. 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.</P>

<P STYLE="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">(j)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Entire
Agreement</I>. 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.</P>

<P STYLE="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">(k)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Severability.
</I>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.</P>

<P STYLE="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">(l)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Waiver
of Jury Trial. </I>Each of the Company, the Partnership and each of the Agents hereby irrevocably waive, 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.</P>

<P STYLE="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; text-align: justify; text-indent: 1in">(m)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Successors</I>.
This Agreement will inure to the benefit of and be binding upon the parties hereto and their respective successors and the officers,
directors, employees, agents and controlling persons referred to in Section&nbsp;5 hereof, and no other person will have any right or
obligation hereunder.</P>

<P STYLE="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">(n)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Headings</I>.
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.</P>

<P STYLE="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">(o)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Time.
</I>Time shall be of the essence of 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; text-align: center">[<I>Signature page&nbsp;follows</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: justify; text-indent: 0.5in">Please confirm that the foregoing
correctly sets forth the agreement between the Company, the Partnership and the Agents.</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>&nbsp;</TD><TD COLSPAN="3">Very truly yours,</TD></TR>
                                                                                                                                          <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD COLSPAN="3">&nbsp;</TD></TR>
                                                                                                                                          <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD COLSPAN="3"><B>BROOKFIELD INFRASTRUCTURE CORPORATION</B></TD></TR>
                                                                                                                                          <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD COLSPAN="3">&nbsp;</TD></TR>
                                                                                                                                          <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD COLSPAN="2">&nbsp;</TD></TR>
                                                                                                                                          <TR STYLE="vertical-align: top">
<TD></TD><TD>Per:</TD><TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">/s/ David Krant</TD></TR><TR STYLE="vertical-align: top">
<TD STYLE="width: 50%">&nbsp;</TD><TD STYLE="width: 3%">&nbsp;</TD><TD STYLE="width: 5%">Name:</TD>
                              <TD STYLE="width: 42%">David Krant</TD></TR>
                                                                                                <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>Title:</TD>
                              <TD>Chief Financial Officer</TD></TR>
                                                                                                </TABLE>

<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>&nbsp;</TD>
    <TD COLSPAN="3"><B>BROOKFIELD INFRASTRUCTURE PARTNERS L.P.,</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">by its general partner, Brookfield Infrastructure Partners Limited</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Per:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">/s/ Gregory Morrison</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 5%">Name:</TD>
    <TD STYLE="width: 42%">Gregory Morrison</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD>President</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&nbsp;to
Equity Distribution Agreement</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: 44 -->
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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: justify">Confirmed as of the date first above mentioned:</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 COLSPAN="3"><B>RBC Dominion Securities Inc.</B></TD><TD STYLE="text-align: justify">&nbsp;</TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD>By:</TD><TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: left">/s/ Ram Amarnath</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 3%">&nbsp;</TD><TD STYLE="text-align: left; width: 5%">Name:</TD>
               <TD STYLE="text-align: left; width: 42%">Ram Amarnath</TD><TD STYLE="text-align: justify; width: 50%">&nbsp;</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">Title:</TD>
               <TD STYLE="text-align: left">Global Co-Head of Financial Sponsors</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
     </TABLE>

<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 COLSPAN="3"><B>RBC Capital Markets, LLC</B></TD><TD STYLE="text-align: justify">&nbsp;</TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD>By:</TD><TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: left">/s/ Mari Ono</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 3%">&nbsp;</TD><TD STYLE="text-align: left; width: 5%">Name:</TD>
               <TD STYLE="text-align: left; width: 42%">Mari Ono</TD><TD STYLE="text-align: justify; width: 50%">&nbsp;</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">Title:</TD>
               <TD STYLE="text-align: left">Managing Director</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
     </TABLE>
<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 COLSPAN="3"><B>Scotia Capital Inc.</B></TD><TD STYLE="text-align: justify">&nbsp;</TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD>By:</TD><TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: left">/s/ Arjun Taneja</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 3%">&nbsp;</TD><TD STYLE="text-align: left; width: 5%">Name:</TD>
               <TD STYLE="text-align: left; width: 42%">Arjun Taneja</TD><TD STYLE="text-align: justify; width: 50%">&nbsp;</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">Title:</TD>
               <TD STYLE="text-align: left">Managing Director</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
     </TABLE>
<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 COLSPAN="3"><B>Scotia Capital (USA) Inc.</B></TD><TD STYLE="text-align: justify">&nbsp;</TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD>By:</TD><TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: left">/s/ David Boutry</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 3%">&nbsp;</TD><TD STYLE="text-align: left; width: 5%">Name:</TD>
               <TD STYLE="text-align: left; width: 42%">David Boutry</TD><TD STYLE="text-align: justify; width: 50%">&nbsp;</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">Title:</TD>
               <TD STYLE="text-align: left">Managing Director</TD><TD STYLE="text-align: justify">&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">[<I>Signature page&nbsp;to Equity Distribution
Agreement</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: 45 -->
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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>AUTHORIZED COMPANY REPRESENTATIVES</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">The Authorized Company Representatives are:</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: 33%"><B>Name </B></TD>
    <TD STYLE="width: 34%"><B>E-mail Address</B></TD>
    <TD STYLE="width: 33%"><B>Telephone Number</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>David Krant</TD>
    <TD>[Redacted]</TD>
    <TD>[Redacted]</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Chloe Berry</TD>
    <TD>[Redacted]</TD>
    <TD>[Redacted]</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Aaron Kline</TD>
    <TD>[Redacted]</TD>
    <TD>[Redacted]</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: center"><B>AUTHORIZED CANADIAN AGENT REPRESENTATIVES</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">The Authorized Agent Representatives of RBC Dominion
Securities Inc. are as follows</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: 33%"><B>Name</B></TD>
    <TD STYLE="width: 34%"><B>E-mail Address</B></TD>
    <TD STYLE="width: 33%"><B>Telephone Number</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Nitin Babbar</TD>
    <TD>[Redacted]</TD>
    <TD>[Redacted]</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Christina Chan</TD>
    <TD>[Redacted]</TD>
    <TD>[Redacted]</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Amrit Singh Saini</TD>
    <TD>[Redacted]</TD>
    <TD>[Redacted]</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Tyler Parrent</TD>
    <TD>[Redacted]</TD>
    <TD>[Redacted]</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Jamie Green</TD>
    <TD>[Redacted]</TD>
    <TD>[Redacted]</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Bethany Rees</TD>
    <TD STYLE="text-align: justify">[Redacted]</TD>
    <TD>[Redacted]</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">The Authorized Agent Representatives of Scotia
Capital Inc. are as follows</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: 33%"><B>Name </B></TD>
<TD STYLE="width: 34%"><B>E-mail Address</B></TD>
<TD STYLE="width: 33%"><B>Telephone Number</B></TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify">Arjun Taneja</TD>
<TD>[Redacted]</TD>
<TD>[Redacted]</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify">Paul O&rsquo;Hea</TD>
<TD>[Redacted]</TD>
<TD>[Redacted]</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify">Matt Sheehan</TD>
<TD>[Redacted]</TD>
<TD>[Redacted]</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify">James Barltrop</TD>
<TD>[Redacted]</TD>
<TD>[Redacted]</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify">Jason Melo</TD>
<TD>[Redacted]</TD>
<TD>[Redacted]</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify">Gaurav Sharma</TD>
<TD>[Redacted]</TD>
<TD>[Redacted]</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify">John Burchat</TD>
<TD>[Redacted]</TD>
<TD>[Redacted]</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify">Dane Saunders</TD>
<TD>[Redacted]</TD>
<TD>[Redacted]</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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>AUTHORIZED U.S. AGENT REPRESENTATIVES</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">The Authorized Agent Representatives of RBC Capital
Markets, LLC are as follows</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: 33%"><B>Name </B></TD>
    <TD STYLE="width: 34%"><B>E-mail Address</B></TD>
    <TD STYLE="width: 33%"><B>Telephone Number</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Nitin Babbar</TD>
    <TD>[Redacted]</TD>
    <TD>[Redacted]</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Tyler Parrent</TD>
    <TD>[Redacted]</TD>
    <TD>[Redacted]</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Jamie Green</TD>
    <TD>[Redacted]</TD>
    <TD>[Redacted]</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Bethany Rees</TD>
    <TD>[Redacted]</TD>
    <TD>[Redacted]</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">The Authorized Agent Representatives of Scotia
Capital (USA) Inc. are as follows</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: 33%"><B>Name </B></TD>
<TD STYLE="width: 34%"><B>E-mail Address</B></TD>
<TD STYLE="width: 33%"><B>Telephone Number</B></TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify">Arjun Taneja</TD>
<TD>[Redacted]</TD>
<TD>[Redacted]</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify">Paul O&rsquo;Hea</TD>
<TD>[Redacted]</TD>
<TD>[Redacted]</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify">Matt Sheehan</TD>
<TD>[Redacted]</TD>
<TD>[Redacted]</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify">James Barltrop</TD>
<TD>[Redacted]</TD>
<TD>[Redacted]</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify">Jason Melo</TD>
<TD>[Redacted]</TD>
<TD>[Redacted]</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify">Gaurav Sharma</TD>
<TD>[Redacted]</TD>
<TD>[Redacted]</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify">John Burchat</TD>
<TD>[Redacted]</TD>
<TD>[Redacted]</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify">Dane Saunders</TD>
<TD>[Redacted]</TD>
<TD>[Redacted]</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: right"><B>SCHEDULE 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; margin: 0pt 0; text-align: center"><B>PARTNERSHIP ENTITIES</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">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">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">Brookfield Infrastructure Corporation</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Triton International 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">BUUK Infrastructure No 1 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">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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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>3
<FILENAME>tm2531411d3_ex5-1.htm
<DESCRIPTION>EXHIBIT 5.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font-size: 10pt; margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font-size: 10pt; text-align: right; margin: 0"><FONT STYLE="font-size: 10pt"><B>Exhibit 5.1</B></FONT></P>

<P STYLE="font-size: 10pt; margin: 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">November&nbsp;19, 2025</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"><IMG SRC="tm2531411d3_ex5-1img001.jpg" ALT=""></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">Brookfield Infrastructure Corporation<BR>
250 Vesey Street, 15th Floor</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">New York, NY 10281-1023</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; text-align: justify"><FONT STYLE="font-size: 10pt">Ladies and Gentlemen:</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; text-align: justify"><FONT STYLE="font-size: 10pt">We have acted as
British Columbia legal counsel to Brookfield Infrastructure Corporation, a corporation existing under the laws of the Province of British
Columbia (the &ldquo;<B>Corporation</B>&rdquo;), in connection with the sale by the Corporation of up to US$400,000,000 of class A exchangeable
subordinate voting shares (&ldquo;<B>Offered Shares</B>&rdquo;) of the Corporation pursuant to an equity distribution agreement dated
November&nbsp;19, 2025 (the &ldquo;<B>EDA</B>&rdquo;) among the Corporation, Brookfield Infrastructure Partners L.P. (&ldquo;<B>BIP</B>&rdquo;),
RBC Dominion Securities Inc., RBC Capital Markets, LLC, Scotia Capital (USA) Inc. and Scotia Capital Inc. The Offered Shares may be offered
and sold in &ldquo;at-the-market&rdquo; distributions&rdquo; as defined in National Instrument 44-102 &ndash; <I>Shelf Distributions</I>.</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; text-align: justify"><FONT STYLE="font-size: 10pt">The Corporation
and BIP filed a joint Registration Statement on Form&nbsp;F-3 (File Nos. 333-278738 and 333-278738-01) with the Securities and Exchange
Commission (the &ldquo;<B>Commission</B>&rdquo;) on April&nbsp;16, 2024 (as amended on May&nbsp;24, 2024, January&nbsp;29, 2025 and April&nbsp;15,
2025, and declared effective on April&nbsp;24, 2025). The Registration Statement contains the base prospectus as supplemented by the
prospectus supplement dated as of November&nbsp;19, 2025 and filed with the Commission on November&nbsp;19, 2025 (the &ldquo;<B>Prospectus</B>&rdquo;),
pursuant to Rule&nbsp;424(b)&nbsp;under the <I>Securities Act of 1933</I>, as amended (the &ldquo;<B>Securities Act</B>&rdquo;).</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; text-align: justify"><FONT STYLE="font-size: 10pt">We are solicitors
qualified to practice law in the Province of British Columbia and we do not purport to be experts on the law of any other jurisdiction
other than the Province of British Columbia and the federal laws of Canada applicable therein. We do not express any opinion herein concerning
any law other than the laws of the Province of British Columbia and the federal laws of Canada applicable therein. This opinion is expressed
as of the date hereof unless otherwise expressly stated, and we disclaim any undertaking to advise you of any subsequent changes of the
facts stated or assumed herein or any subsequent changes in applicable law.</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; text-align: justify"><FONT STYLE="font-size: 10pt">In connection with
this opinion, we have examined the Registration Statement, the Prospectus and the EDA. We also have examined the originals, or duplicate,
certified, conformed, telecopied or photostatic copies, of such corporate records, agreements, documents and other instruments and have
made such other investigations as we have considered necessary or relevant for the purposes of this opinion. With respect to the accuracy
of factual matters material to this opinion, we have relied upon certificates or comparable documents and representations of public officials
and of officers and representatives of the Corporation. In giving this opinion, we have assumed the genuineness of all signatures, the
legal capacity of natural persons, the authenticity of all documents submitted to us as originals, the conformity to authentic original
documents of all documents submitted to us as duplicates, certified, conformed, telecopied or photostatic copies and the authenticity
of the originals of such latter documents.</FONT></P>

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

<P STYLE="text-align: left; font-size: 10pt; margin: 0"><FONT STYLE="font-size: 10pt">McMillan LLP &#9474; Royal Centre, 1055 W. Georgia St., Suite&nbsp;1500, PO Box 11117,
Vancouver, BC, Canada V6E 4N7 &#9474; t 604.689.9111 &#9474; f 604.685.7084</FONT></P>

<P STYLE="text-align: left; margin: 0; font-size: 10pt"><FONT STYLE="font-size: 10pt">Lawyers &#9474; Patent&nbsp;&amp; Trademark Agents &#9474;
Avocats &#9474;&#8239;Agents de brevets et de marques de commerce</FONT></P>

<P STYLE="text-align: left; margin: 0; font-size: 10pt"><FONT STYLE="font-size: 10pt">Vancouver &#9474; Calgary &#9474; Toronto &#9474; Ottawa &#9474; Montr&eacute;al
 &#9474; Hong Kong &#9474; mcmillan.ca</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"></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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><IMG SRC="tm2531411d3_ex5-1img001.jpg" ALT=""></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; text-align: justify"><FONT STYLE="font-size: 10pt">Based upon the
foregoing, and subject to the foregoing qualifications, assumptions and limitations, we are of the opinion that the Offered Shares have
been duly authorized for issuance and, when issued and paid for in accordance with the terms set forth in the EDA will be validly issued,
fully paid and non-assessable shares in the capital of the Corporation.</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; text-align: justify"><FONT STYLE="font-size: 10pt">We consent to the
filing of this opinion as an exhibit to the Registration Statement and to the use of our name under the caption &ldquo;Legal Matters&rdquo;
therein. In giving such consent, we do not admit that we come within the category of persons whose consent is required under Section&nbsp;7
of the Securities Act or the rules&nbsp;and regulations of the Commission thereunder.</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; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 49%"></TD><TD STYLE="width: 2%; text-align: left">&nbsp;</TD><TD STYLE="text-align: justify; width: 49%"><FONT STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Very
truly yours,</FONT></FONT></TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">/s/ McMillan
LLP</FONT></TD></TR>
     </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.5in; text-align: justify"><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"></FONT></P>

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

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.2
<SEQUENCE>4
<FILENAME>tm2531411d3_ex5-2.htm
<DESCRIPTION>EXHIBIT 5.2
<TEXT>
<HTML>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: right; margin: 0"><B>Exhibit 5.2</B></P>

<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"><IMG SRC="tm2531411d3_ex5-2img001.jpg" ALT=""></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%"><B>Brookfield Infrastructure Partners L.P.</B></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 49%; text-align: right"><B>Email</B> DClark@applebyglobal.com</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>73 Front Street, 5th Floor </TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Hamilton HM 12 </TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><B>Direct Dial</B> +1 441 295 3583</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Bermuda &nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><B>Tel</B> +1 441 295 2244</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><B>Fax</B> +1 441 292 8666</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: right"><B>Appleby Ref</B> 136873.0064
DC/HF/AC</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: right">19 November&nbsp;2025</P>

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

<P STYLE="margin: 0">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"><B>Brookfield Infrastructure Partners L.P. (Partnership)</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 have acted as legal advisers as to matters
of Bermuda law to the Partnership, an exempted limited partnership formed under the laws of Bermuda (<B>Partnership</B>). We have been
requested to render this opinion in connection with the filing by Brookfield Infrastructure Corporation (<B>BIPC</B>) and the Partnership
of a prospectus supplement dated 19 November&nbsp;2025 (<B>Prospectus Supplement</B>) to a shelf registration statement on Form&nbsp;F-3
(Reg. No.&nbsp;333-278738-01 (as amended on May&nbsp;24, 2024, January&nbsp;29, 2025 and April&nbsp;15, 2025, and declared effective on
April&nbsp;24, 2025)) (<B>Registration Statement</B>) with the Securities and Exchange Commission (<B>SEC</B>) pursuant to the Securities
Act of 1933, as amended (<B>Securities Act</B>), and the rules&nbsp;and regulations promulgated thereunder, relating to the registration
under the Securities Act of up to $400,000,000 of class A exchangeable subordinate voting shares of BIPC (<B>Exchangeable Shares</B>)
and the limited partnership units (<B>Units</B>) of the Partnership that are issuable or deliverable upon exchange, redemption or acquisition
of such Exchangeable Shares.</P>

<P STYLE="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">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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Assumptions</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">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" WIDTH="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">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, notarized 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" WIDTH="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">the genuineness of all signatures on the Documents;</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">the authority, capacity and power of persons signing the Documents;</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="text-align: right; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><IMG SRC="tm2531411d3_ex5-2img001.jpg" ALT=""></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">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" WIDTH="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">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" WIDTH="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">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 Partnership in connection with the Registration Statement 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 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" WIDTH="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">7.</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 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 and the Litigation Search; 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"></TD><TD STYLE="width: 0.5in">8.</TD><TD STYLE="text-align: justify">any amendment to the Registration Statement and the Prospectus Supplement is properly authorized by the
Partnership and the terms and transactions contemplated by any such amendment adopted would not be inconsistent with the Resolutions and
the terms and transactions contemplated by the Prospectus Supplement and the Registration Statement as of the date 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; 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; 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" WIDTH="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">The Partnership is an exempted limited partnership established and existing under the laws of Bermuda.
The Partnership possesses the capacity to sue and be sued and is in good standing under the laws of Bermuda. All suits in respect of the
Partnership shall be prosecuted against Brookfield Infrastructure Partners Limited (<B>BIPL</B>), in its capacity as general partner 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"></P>

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<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"><IMG SRC="tm2531411d3_ex5-2img001.jpg" ALT=""></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">2.</TD><TD STYLE="text-align: justify">The issue of the Units has been duly authorized by all necessary action on the part of the Partnership
and when issued as contemplated by the Prospectus Supplement, the Resolutions and the Constitutional Documents, will be validly issued,
fully paid and non-assessable units 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: 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; 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" WIDTH="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">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>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="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">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" WIDTH="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">Any reference in this opinion to units being &ldquo;non-assessable&rdquo; shall mean, in relation to fully-paid
units of the Partnership and subject to any contrary provision in any agreement in writing between the Partnership and the holder of units,
that: no holder shall be obliged to contribute further amounts to the capital of the Partnership, either in order to complete payment
for their units, to satisfy claims of creditors of the Partnership, or otherwise.</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">Searches of the Register of Companies at the office of the Registrar of Companies 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" WIDTH="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">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 would have or should have been disclosed on the public file, the Causes
Book or the Judgment Book, 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 or Judgment Book;</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">(ii)</TD><TD STYLE="text-align: justify">details of matters which should have been lodged for filing or registration at the Registrar of Companies
or the Registry of the Supreme Court 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>

<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="text-align: right; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><IMG SRC="tm2531411d3_ex5-2img001.jpg" ALT=""></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">(iii)</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" WIDTH="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">(iv)</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" WIDTH="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">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 Companies
Act 1981.</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">The Limited Partnership Act 1883 (<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" WIDTH="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">A limited partner is liable to the Partnership, or to its creditors, for any amount in respect of such
limited partner&rsquo;s contribution to the 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" WIDTH="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">7.</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" WIDTH="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">8.</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 in
contravention of the 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"></TD><TD STYLE="width: 0.5in">9.</TD><TD STYLE="text-align: justify">In opinion paragraph 1, the term &lsquo;good standing&rsquo; means only that the Partnership has received
a Certificate of Compliance from the Registrar of Companies in Hamilton, Bermuda which confirms that it has neither failed to make any
filing with any Bermuda governmental authority nor to pay any Bermuda government fee or tax.</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">10.</TD><TD STYLE="text-align: justify">With respect to opinion 2, we have relied upon statements and representations made to us in the Officer&rsquo;s
Certificate provided to us by an authorised officer of BIPL for the purposes of this opinion. We have made no independent verification
of the matters referred to in the Officer&rsquo;s Certificate, and we qualify such opinion to the extent that the statements or representations
made in the Officer&rsquo;s Certificate 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="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="text-align: right; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><IMG SRC="tm2531411d3_ex5-2img001.jpg" ALT=""></P>

<P STYLE="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>Disclosure</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">This opinion is addressed to you in connection
with the registration of the Units with the SEC and is not to be made available to, or relied on by any other person or entity (other
than the Unitholders as referenced in the Registration Statement), or for any other purpose, nor quoted or referred to in any public document
nor filed with any governmental agency or person (other than the SEC in connection with the Registration Statement), without our prior
written consent except as may be required by law or regulatory authority. We consent to the filing of this opinion as an exhibit to the
Partnership&rsquo;s Report of Foreign Issuer on Form&nbsp;6-K being filed on or about the date hereof and incorporated by reference into
the Registration Statement and further consent to the reference to our firm under the caption &ldquo;Legal Matters&rdquo; in the Registration
Statement and Prospectus Supplement.</P>

<P STYLE="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>

<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: 49%"><B>Yours faithfully</B></TD><TD STYLE="width: 2%; text-align: left">&nbsp;</TD><TD STYLE="text-align: justify; width: 49%">&nbsp;</TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD>/s/ Appleby (Bermuda) Limited</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD><B>Appleby (Bermuda) Limited</B></TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&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="text-align: right; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><IMG SRC="tm2531411d3_ex5-2img001.jpg" ALT=""></P>

<P STYLE="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" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 32.6pt">1.</TD><TD STYLE="text-align: justify">The respective electronic extracts provided to us by the office of the Registrar of Companies each dated
18 November&nbsp;2025 in respect of BIPL and the Partnership on their files maintained at office of the Registrar of Companies (collectively,
the <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" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 32.6pt">2.</TD><TD STYLE="text-align: justify">The entries and filings shown in respect of BIPL and the Partnership in the Supreme Court Causes Book
maintained at the Registry of the Supreme Court in Hamilton, Bermuda, as revealed by searches conducted on 18 November&nbsp;2025 (<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" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 32.6pt">3.</TD><TD STYLE="text-align: justify">Certified copies of the following documents in respect of the Partnership: Certificate of Registration
for a Partnership to be Registered as an Exempted Partnership and Limited Partnership dated 13 June&nbsp;2007, Certificate of Deposit
of Supplementary Certificate (Change of Name) dated 10 July&nbsp;2007, Certificate of Deposit of Supplementary Certificate (Change of
Registered Office) dated 8 December&nbsp;2011, Certificate of Deposit of Supplementary Certificate (Change of Resident Representative)
dated 8 February&nbsp;2022, Amended and Restated Limited Partnership Agreement dated 16 February&nbsp;2018, First Amendment to the Amended
and Restated Limited Partnership Agreement dated 12 September&nbsp;2018, Second Amendment to the Amended and Restated Limited Partnership
Agreement dated 27 February&nbsp;2020, Third Amendment to the Amended and Restated Limited Partnership Agreement dated 21 September&nbsp;2020,
Fourth Amendment to the Amended and Restated Limited Partnership Agreement dated 21 January&nbsp;2021, Fifth Amendment to the Amended
and Restated Limited Partnership Agreement dated 24 May&nbsp;2021, Sixth Amendment to the Amended and Restated Limited Partnership Agreement
dated 31 May&nbsp;2024, Seventh Amendment to the Amended and Restated Limited Partnership Agreement dated 29 November&nbsp;2024 and the
Eighth Amendment to the Amended and Restated Limited Partnership Agreement dated 16 May&nbsp;2025 (collectively, <B>Partnership 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" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 32.6pt">4.</TD><TD STYLE="text-align: justify">Certified copies of the Certificate of Incorporation, Memorandum of Association and Bye-Laws of BIPL (<B>GP
Constitutional Documents</B>, together with the Partnership Constitutional 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" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 32.6pt">5.</TD><TD STYLE="text-align: justify">Copies of the unanimous written resolutions of the board of Directors of BIPL held on 16 November&nbsp;2025
(<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" WIDTH="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">Certificates of Compliance each dated 13 November&nbsp;2025 issued by the Registrar of Companies in respect
of BIPL and the Partnership.</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">7.</TD><TD STYLE="text-align: justify">An officer&rsquo;s certificate signed by an officer of BIPL, it is capacity as general partner of the
Partnership (<B>Officer&rsquo;s Certificate</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">8.</TD><TD STYLE="text-align: justify">The Registration Statement and the Prospectus Supplement.</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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<TYPE>EX-99.1
<SEQUENCE>5
<FILENAME>tm2531411d3_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0; text-align: right; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Exhibit 99.1</B></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; text-align: right"><FONT STYLE="font-size: 10pt">PRESS RELEASE</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"><B><I>All amounts in U.S. dollars</I></B></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; text-align: center"><FONT STYLE="font-size: 10pt"><B>BROOKFIELD INFRASTRUCTURE
CORPORATION ANNNOUNCES AT-THE-MARKET EQUITY ISSUANCE PROGRAM</B></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; text-align: justify"><FONT STYLE="font-size: 10pt"><B>BROOKFIELD,
News, November&nbsp;19, 2025</B> &ndash; Brookfield Infrastructure Corporation (NYSE: BIPC; TSX: BIPC) (&ldquo;BIPC&rdquo;) today announced
that it has made the necessary Canadian and U.S. securities filings to enable an &ldquo;at the market&rdquo; equity issuance program
(the &ldquo;ATM Program&rdquo;).</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; text-align: justify"><FONT STYLE="font-size: 10pt">Under the ATM Program,
BIPC may, at its discretion, offer and sell up to $400 million (or the Canadian dollar equivalent) of class A exchangeable subordinate
voting shares (the &ldquo;BIPC Shares&rdquo;) directly from treasury. These shares may be sold to the public from time to time at prevailing
market prices through the Toronto Stock Exchange, the New York Stock Exchange or any other marketplace in Canada or the United States
where BIPC Shares may be traded. As a result, sale prices of the BIPC Shares sold under the ATM Program, if any, may vary among purchasers
and throughout the distribution period. The ATM Program will provide BIPC with flexibility to issue BIPC Shares directly into the market
at times when conditions are favorable.</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; text-align: justify"><FONT STYLE="font-size: 10pt">Each BIPC Share
will be exchangeable at the option of the holder for one non-voting limited partnership unit (each, an &ldquo;LP Unit&rdquo;) of Brookfield
Infrastructure Partners L.P. (the &ldquo;Partnership&rdquo; and together with BIPC, &ldquo;Brookfield Infrastructure&rdquo;) (subject
to adjustment to reflect certain capital events) or its cash equivalent (the form of payment to be determined at the election of BIPC).</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; text-align: justify"><FONT STYLE="font-size: 10pt">Brookfield Infrastructure
intends to use the net proceeds from the ATM Program, if any, to facilitate repurchases by the Partnership of its LP Units under its
normal course issuer bid (&ldquo;NCIB&rdquo;) program (subject to compliance with applicable securities laws) and for general corporate
purposes.</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; text-align: justify"><FONT STYLE="font-size: 10pt">Overall, the ATM
Program, if exercised, is expected to be non-dilutive to Brookfield Infrastructure, as the combined number of LP Units and BIPC Shares
outstanding is intended to remain generally unchanged, though there may be temporary fluctuations over the course of the distributions.</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; text-align: justify"><FONT STYLE="font-size: 10pt">The BIPC Shares
will be offered pursuant to an equity distribution agreement dated November&nbsp;19, 2025 (the &ldquo;Distribution Agreement&rdquo;)
entered among the Partnership, BIPC and RBC Dominion Securities Inc. and Scotia Capital Inc. (together, the &ldquo;Canadian Agents&rdquo;),
and RBC Capital Markets, LLC and Scotia Capital (USA) Inc. (together, the &ldquo;U.S. Agents&rdquo; and, together with the Canadian Agents,
the &ldquo;Agents&rdquo;, each an &ldquo;Agent&rdquo;). Sales may be made through &ldquo;at the market distributions&rdquo; as defined
in National Instrument 44-102 &ndash; <I>Shelf Distributions</I> and in sales deemed to be an &ldquo;at the market offering&rdquo; as
defined in Rule&nbsp;415 promulgated under the U.S. Securities Act of 1933, as amended, and as otherwise permitted by applicable laws.
The ATM Program will terminate upon the earlier of (i)&nbsp;the sale of all of the BIPC Shares subject to the Distribution Agreement,
(ii)&nbsp;termination of the Distribution Agreement by BIPC or by the Agents as provided therein, or (iii)&nbsp;on February&nbsp;28,
2027, in each case in accordance with the terms of the Distribution Agreement.</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"></P>

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<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; text-align: justify"><FONT STYLE="font-size: 10pt">The ATM Program
is being undertaken in Canada pursuant to a Canadian prospectus supplement dated November&nbsp;19, 2025 (the &ldquo;Canadian Prospectus
Supplement&rdquo;) to the Partnership and BIPC&rsquo;s Canadian short form base shelf prospectus dated January&nbsp;29, 2025 (together
with the Canadian Prospectus Supplement, the &ldquo;Canadian Prospectus&rdquo;), which has been filed in each of the provinces and territories
of Canada, and in the United States pursuant to a U.S. prospectus supplement dated November&nbsp;19, 2025 (the &ldquo;U.S. Prospectus
Supplement&rdquo;) to BIPC&rsquo;s and the Partnership&rsquo;s U.S. base prospectus (together with the U.S. Prospectus Supplement, the
 &ldquo;U.S. Prospectus&rdquo;) included in their joint U.S. registration statement on Form&nbsp;F-3, filed with the U.S. Securities and
Exchange Commission on April&nbsp;16, 2024 (as amended on May&nbsp;24, 2024, January&nbsp;29, 2025 and April&nbsp;15, 2025, and declared
effective on April&nbsp;24, 2025). Before making an investment, potential investors should read the Canadian Prospectus or the U.S. Prospectus,
as applicable, and other public filings by Brookfield Infrastructure for more information about Brookfield Infrastructure and the ATM
Program. Copies of these documents, as well as the Distribution Agreement, are available on SEDAR+ at www.sedarplus.ca or on EDGAR at
www.sec.gov. The Agents participating in the ATM Program will arrange to send you the Canadian Prospectus or the U.S. Prospectus and
the Distribution Agreement, as applicable, upon request by contacting, in the case of the Canadian Prospectus or the Distribution Agreement,
RBC Dominion Securities Inc., 180 Wellington Street West, 8th Floor, Toronto, ON M5J 0C2, Attention: Distribution Centre, Phone: (416)
842-5349, Email: Distribution.RBCDS@rbccm.com or Scotia Capital Inc., 40 Temperance Street, 6th Floor, Toronto, Ontario M5H 0B4, attention:
Equity Capital Markets, phone: 416-863-7704, email: equityprospectus@scotiabank.com, or, in the case of the U.S. Prospectus or the Distribution
Agreement, RBC Capital Markets, LLC, 200 Vesey Street, 8th Floor, New York, NY 10281-8098, Attention: Equity Syndicate, Phone: 877-822-4089,
Email: equityprospectus@rbccm.com or Scotia Capital (USA) Inc., 250 Vesey Street, 24th Floor, New York, New York, 10281, attention: Equity
Capital Markets, phone: 212-225-6853, email: us.ecm@scotiabank.com.</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; text-align: center"><FONT STYLE="font-size: 10pt"><B>*****</B></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; text-align: justify"><FONT STYLE="font-size: 10pt"><I>This news release
does not constitute an offer to sell or a solicitation of an offer to buy any securities of Brookfield Infrastructure, nor will there
be any sale of the securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful.</I></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; text-align: justify"><FONT STYLE="font-size: 10pt"><B>Brookfield Infrastructure
</B>is a leading global infrastructure company that owns and operates high-quality, long-life assets in the utilities, transport, midstream
and data sectors across the Americas, Asia Pacific and Europe. We are focused on assets that have contracted and regulated revenues that
generate predictable and stable cash flows. Investors can access its portfolio either through Brookfield Infrastructure Partners L.P.
(NYSE: BIP; TSX: BIP.UN), a Bermuda-based limited partnership, or Brookfield Infrastructure Corporation (NYSE, TSX: BIPC), a Canadian
corporation. Further information is available at <U>https://bip.brookfield.com</U>.</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; text-align: justify"><FONT STYLE="font-size: 10pt">Brookfield Infrastructure
is the flagship listed infrastructure company of Brookfield Asset Management, a global alternative asset manager, headquartered in New
York with over $1 trillion of assets under management. For more information, go to <U>https://www.brookfield.com</U>.</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; text-align: justify"><FONT STYLE="font-size: 10pt"><B>Contact Information</B></FONT></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 49%"><FONT STYLE="font-size: 10pt"><B>Media:</B></FONT></TD>
<TD STYLE="font-size: 10pt; width: 2%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="font-size: 10pt; width: 49%"><FONT STYLE="font-size: 10pt"><B>Investor Relations:</B></FONT></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">John Hamlin</FONT></TD>
<TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Stephen Fukuda</FONT></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Director</FONT></TD>
<TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Senior Vice President</FONT></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Communications</FONT></TD>
<TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Corporate Development&nbsp;&amp; Investor Relations</FONT></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Tel: +44 204 557 4334</FONT></TD>
<TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Tel: +1 (416) 956 5129</FONT></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Email: <U>john.hamlin@brookfield.com</U></FONT></TD>
<TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Email: <U>stephen.fukuda@brookfield.com</U></FONT></TD></TR>
</TABLE>

<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; text-align: justify"><FONT STYLE="font-size: 10pt"><B>Cautionary Statement
Regarding Forward-looking Statements</B></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; text-align: justify"><FONT STYLE="font-size: 10pt"><I>This news release
contains forward-looking statements and information within the meaning of applicable securities laws. The words &ldquo;will&rdquo;, &ldquo;expected&rdquo;,
 &ldquo;intends&rdquo;, &ldquo;may&rdquo; or derivations thereof and other expressions which are predictions of or indicate future events,
trends or prospects, and which do not relate to historical matters, identify forward-looking statements. Forward-looking statements in
this news release include statements regarding the potential distribution of BIPC Shares pursuant to the ATM Program, the aggregate value
of BIPC Shares that may be issued pursuant to the ATM Program, the expectation that the ATM Program is expected to be non-dilutive and
that the aggregate number of LP Units and BIPC Shares is intended to be generally unchanged over the course of the ATM Program, the expected
use of net proceeds, if any, from the ATM Program and the potential repurchases by the Partnership of its LP Units under its NCIB program.
Although Brookfield Infrastructure believes that these forward-looking statements and information are based upon reasonable assumptions
and expectations, the reader should not place undue reliance on them, or any other forward-looking statements or information in this
news release. The future performance and prospects of Brookfield Infrastructure are subject to a number of known and unknown risks and
uncertainties. Factors that could cause actual results of Brookfield Infrastructure to differ materially from those contemplated or implied
by the statements in this news release are described in the documents filed by Brookfield Infrastructure with the securities regulators
in Canada and the United States, including under &ldquo;Risk Factors&rdquo; in the Canadian Prospectus and the U.S. Prospectus, each
of BIPC and the Partnership&rsquo;s most recent Annual Report on Form&nbsp;20-F and the other documents incorporated by reference in
the Canadian Prospectus and the U.S. Prospectus. Except as required by law, Brookfield Infrastructure undertakes no obligation to publicly
update or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise.</I></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"></P>

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<FILENAME>tm2531411d3_ex5-1img001.jpg
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