7 September 2023

2023 First Half-Year Dividend

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

Acknowledging the recent higher levels of inflation, the Company has decided to increase its 2023 dividend target to 8.13 pence per share, representing a 5% increase compared to the 2022 dividend. Beyond 2023, the Board will keep the Company's dividend policy under review, nevertheless, it is currently forecasting to continue its long-term projected dividend growth rate of c.2.5%, such that the 2024 dividend target is 8.33 pence per share. The dividend in respect of the six months to 30 June 2023 is 4.06 pence per share.

2023 and 2024 Full Year Distributions

The Board of Directors confirms that it has established a target for 2023 and 2024 distributions of 8.13 and 8.33 pence per share, respectively, providing additional guidance to investors as to the Company's future intentions and the overall continued performance of its portfolio.

Scrip Dividend Alternative

As at 6 September 2023, the Company's shares were trading at 128.8 pence per share, which is lower than the last published Net Asset Value ('NAV') of 155.2 pence per share as at 30 June 2023. 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 4.06 pence per share on the record date (15 September 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:

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 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, New Zealand 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 approximately 180 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.