30 September 2021

HICL Infrastructure PLC

"HICL" or "the Company" and, together with its subsidiaries, "the Group", the London-listed infrastructure investment company managed by InfraRed Capital Partners Limited ("InfraRed" or "the Investment Manager").

Chair Succession

The Board of HICL is pleased to announce a key change in accordance with the Company's Board succession plan.

Following a comprehensive search process, led by Mr Frank Nelson as Senior Independent Director, the Board is pleased to confirm that current non-executive Director Mr Mike Bane has been selected as the successor to Mr Ian Russell as Chair, effective from 31 July 2022. Mr Russell has served as Director for more than eight years, and is stepping down in line with the guidance on independence in the UK Corporate Governance Code. The Board expresses gratitude to Mr Russell for his commitment and contribution to the Group, and congratulates Mr Bane on his upcoming appointment as the Chair.

The Nomination Committee, with the support of an expert search consultancy, assessed a diverse range of internal and external candidates before making its recommendation to the Board to appoint Mr Bane.

Mr Bane is a chartered accountant and was appointed to the Board on 1 July 2018. He has more than 35 years of audit and advisory experience in the asset management industry, including in relation to infrastructure investment companies. He led EY's services to the asset management industry in the Channel Islands, was a member of EY's EMEIA Wealth and Asset Management Board and was President of the Guernsey Society of Chartered and Certified Accountants from 2015 to 2017. Prior to EY, Mike was at PwC, in both London and Guernsey. He is also a Director of Apax Global Alpha Limited and The Guernsey Health Improvement Commission LBG.

Ian Russell, outgoing Chair, said "It has been a privilege to serve on the HICL Board since 2013 and I look forward to continuing to support the business over the coming months. I wish Mike every success in his new role as Chair. The Board and the Company will continue to benefit from his deep understanding of HICL and strong sector experience."

Mike Bane, non-executive Director and Chair-elect, said "I'm delighted to be appointed to the role of Chair. Ian has done a tremendous job over these past years, and on behalf of the Board, I'd like to thank him for his guidance and leadership, and wish him well for the future. 

"I look forward to continuing to work with the Board and the InfraRed team to deliver long-term income for shareholders, by investing in core infrastructure which supports sustainable modern economies."

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Enquiries

InfraRed Capital Partners Limited                            +44 (0) 20 7484 1800 / [email protected]

Harry Seekings

Edward Hunt

Helen Price

Kirsty MacCallum

Teneo                                                                                   +44 (0) 20 7420 3169/ [email protected]

Haya Herbert-Burns

Matthew Thomlinson

Jesse Mathews

Investec Bank plc                                                             +44(0) 20 7597 4952

David Yovichic

RBC Capital Markets                                                       +44 (0) 20 7653 4000

Matthew Coakes

Aztec Financial Services (UK) Limited                    +44(0) 203 818 0246

Chris Copperwaite

Sarah Felmingham

HICL Infrastructure PLC

HICL Infrastructure PLC ("HICL") is a long-term investor in infrastructure assets which are predominantly operational and yielding steady returns. It was the first infrastructure investment company to be listed on the London Stock Exchange.

With a current portfolio of over 100 infrastructure investments, HICL is seeking further suitable opportunities in core infrastructure, which are inherently positioned at the lower end of the risk spectrum.

Further details can be found on the HICL website www.hicl.com.

Investment Manager (InfraRed Capital Partners)

The Investment Manager to HICL is InfraRed Capital Partners Limited ("InfraRed") which has successfully invested in over 200 infrastructure projects since 1997. InfraRed is a leading international investment manager focused on infrastructure and real estate. It operates worldwide from offices in London, New York, Mexico City, Seoul and Sydney. With around 200 professionals, It manages equity capital in multiple private and listed funds, primarily for institutional investors across the globe. InfraRed is authorised and regulated by the Financial Conduct Authority.

The infrastructure investment team at InfraRed consists of over 100 investment professionals, all with an infrastructure investment background and a broad range of relevant skills, including private equity, structured finance, construction, renewable energy and facilities management.

InfraRed implements best-in-class practices to underpin asset management and investment decisions, promotes ethical behaviour and has established community engagement initiatives to support good causes in the wider community. InfraRed is a signatory of the Principles of Responsible Investment.

Further details can be found on InfraRed's website www.ircp.com.