30 March 2023

2022 Second Half-Year Dividend

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

The 2022 second half-year distribution of 3.87 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.

2023 and 2024 Full Year Distributions

The Board of Directors reaffirms that it has established a target for 2023 and 2024 distributions of 7.93 and 8.13 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

As at 29 March 2023, the Company's shares were trading at 141.8 pence per share, which is lower than the last published Net Asset Value ('NAV') of 159.1 pence per share as at 31 December 2022. Accordingly, the Board does not consider it to be in the best interests of shareholders to offer a scrip dividend alternative on this occasion. All shareholders entitled to receive a dividend of 3.87 pence per share on the record date (11 April 2023) will receive their dividend in cash.

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.

For further information:

Erica Sibree/ Amy Edwards                                                +44 (0) 7557 676 499/+44 (0) 7827 238 355

Amber Fund Management Limited                                                  

About International Public Partnerships ('INPP'):

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 138 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 Fund Management Limited ('AFML'), the Investment Adviser to INPP, is part of the Amber Infrastructure Group ('Amber') which consists of approximately 170 staff who are responsible for the management of, advice on and origination of infrastructure investments.

Visit the INPP website at www.internationalpublicpartnerships.com for more information.