Disposal of nine UK PPP projects at a premium

19 August 2026

International Public Partnerships Limited, the listed infrastructure investment company ('INPP' or the 'Company'), is pleased to announce that it has agreed to divest its stakes in nine UK private-public partnership ('PPP') projects. The disposal is to an SMA managed by InfraRed Capital Partners on behalf of a pension fund.

The disposal:

·      involves nine UK PPP projects, comprising fifteen schools spread across four London boroughs and delivered as part of the Building Schools for the Future ('BSF') programme^[i];

·      gross proceeds at completion are expected to exceed £58 million, implying a premium to the Company's last published valuation^[ii]; and

·      provides further evidence of the additional value embedded in INPP's existing portfolio relative to its published NAV.

This transaction is a continuation of the Company's disciplined capital recycling programme - realising proceeds from mature assets and providing additional flexibility to fund higher returning investment opportunities and share buybacks.

Following this disposal, INPP will have realised over £440 million over the last three years, equivalent to c.17%^[ii] of the portfolio, with all realisations either in line with, or at a premium to, the relevant published valuations. Over the same period, the Company has committed to reinvest c.£480 million at a combined IRR of more than 11%, ahead of the portfolio's weighted average discount rate of 9.1%^[ii] and therefore accretive to overall returns.

Sarah Whitney, Chair of INPP, said: "The disposal of the PPP projects at a premium provides further validation of INPP's high-quality assets and the inherent value embedded in the existing portfolio. The proceeds, coupled with internal cash flows, are being reinvested in highly attractive assets and therefore accretive to overall returns."

ENDS.

For further information

Erica Sibree                                                                  +44 (0) 7557 676 499

Amber Fund Management Limited                                                         

Hugh Jonathan                                                              +44 (0)20 7260 1263

Deutsche Numis

Mitch Barltrop                                                               +44 (0) 7807 296 032

FTI Consulting

About INPP:

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

INPP is a responsible, long-term investor in over 130 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 in this capacity is responsible for investment origination, asset management and fund management of the Company. 

Amber is part of Boyd Watterson Global Asset Management Group LLC, a global diversified infrastructure, real estate and fixed income business with over $39 billion in assets under management and over 300 employees with offices in eight US cities and presence in eleven countries.

i)    The disposal relates to INPP's interest in the Ealing, Islington, Southwark and Lewisham BSF projects.

ii)   As at 31 December 2025.