24 March 2022

2021 Second Half-Year Dividend

The Board of International Public Partnerships Limited ('INPP', 'the Company'), the FTSE 250 listed infrastructure investment company, declares a distribution covering the period:

The 2021 second half-year distribution of 3.77 pence per share[i] is in line with the target previously outlined by the Directors and, as per previous periods, has been entirely funded through operating cash flow from the underlying projects.

2022 and 2023 Full Year Distributions

The Board of Directors reaffirms that it has established a target for 2022 and 2023 distributions of 7.74 and 7.93 pence per share, respectively, providing additional guidance to investors as to the Company's future intentions and the overall continued performance of its portfolio. The targeted payments would represent a c.2.5% increase on the preceding distributions and would continue to be in line with the growth target indicated at the time of INPP's IPO in 2006.

Scrip Dividend Alternative

The Board intend to offer a scrip dividend alternative for this distribution to those eligible INPP investors who wish to receive additional INPP securities in lieu of a cash payment. In line with prior dividends, the Company has implemented an online process, reducing the need for paperwork and allowing eligible INPP shareholders access to a web-based service to elect the scrip dividend alternative. Details will be sent to all eligible INPP shareholders on the register as at the record date for the dividend being 8 April 2022 with the scrip dividend circular being mailed on or about 26 April 2022, the terms of the scrip dividend alternative will also be available on the INPP website. Shareholders wishing to access the web-based service and receive electronic communications from the Company can do so at www.signalshares.com.

Note: The above distribution guidance is provided by the Company in consultation with its Investment Adviser as a target only and is not a profit forecast. There can be no assurance that this target will be met or that the Company will make any distributions whatsoever. The times and dates in this announcement are expected times and dates only and are subject to change. The Board will continue to review whether scrip dividends are appropriate for future dividends. Any such changes will be notified to shareholders through a regulatory information service.

Enquiries:

                Erica Sibree/Amy Edwards

                Amber Fund Management Limited                                   +44 (0)20 7939 0558/0587

                Hugh Jonathan

                Numis Securities                                                                  +44 (0)20 7260 1263

                Ed Berry/Mitch Barltrop

                FTI Consulting                                                                       +44 (0) 20 3727 1046/1039

ABOUT INTERNATIONAL PUBLIC PARTNERSHIPS:

INPP is a listed infrastructure investment company that invests in global public infrastructure projects and businesses, which meets societal and environmental needs, both now, and into the future.

INPP is a responsible, long-term investor in over 140 infrastructure projects and businesses. The portfolio consists of utility and transmission, transport, education, health, justice and digital infrastructure projects and businesses, in the UK, Europe, Australia and North America. INPP seeks to provide its shareholders with both a long-term yield and capital growth.

Amber Infrastructure Group ('Amber') is the Investment Adviser to INPP and consists of over 150 staff who are responsible for the management of, advice on and origination of infrastructure investments