31 January 2023

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PANTHEON INFRASTRUCTURE PLC

Investment in German and Austrian Digital Infrastructure Company

Pantheon Infrastructure PLC ("PINT" or the "Company"), the listed global infrastructure fund, has committed to invest approximately €49.2m (£43.2m at current exchange rates) in telecommunications infrastructure operator GD Towers, through a co-investment vehicle managed by affiliates of DigitalBridge Group, Inc. (NYSE:DBRG) ("DigitalBridge"), a leading global digital infrastructure investor managing c.$50bn in assets.

GD Towers is one of the largest independent tower and telecommunications infrastructure operators in Western Europe with a portfolio of c.40,000 sites across Germany (c.33,000) and Austria (c.7,000), that provide the infrastructure for mobile network operators to offer telecoms services to end-customers.

GD Towers has been divested out of the infrastructure network owned by Deutsche Telekom, which, following the transaction, will remain a 49% shareholder and anchor tenant through a long-term master lease agreement. GD Towers further benefits from multiple complementary tailwinds, including regulatory-driven 5G coverage requirements and growing end-user demand for mobile 5G coverage.

The investment manager believes that GD Towers is a highly attractive portfolio of core digital infrastructure assets in Europe, that should benefit from strong downside protection as a result of the robust indexing and contracted nature of cash flows.

Richard Sem, Partner at Pantheon, PINT's investment manager, commented:

"We are pleased to announce this latest transaction in a highly attractive asset that enables us to participate in the robust opportunity in European telecommunications with a high-quality counterparty. We believe the tailwinds in this sector provide attractive growth opportunities which are underpinned by long-term contracted cash flows that provide strong downside protection."

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Notes to editors

Pantheon Infrastructure PLC (PINT)

Pantheon Infrastructure PLC is a closed-ended investment company and an approved UK Investment Trust, listed on the Premium Segment of the London Stock Exchange's Main Market. Its Ordinary Shares trade under the ticker 'PINT'. The independent Board of Directors of PINT have appointed Pantheon, one of the leading private markets investment managers globally, as investment manager. PINT aims to provide exposure to a global, diversified portfolio of high-quality infrastructure assets through building a portfolio of direct co-investments in infrastructure assets with strong defensive characteristics, typically benefitting from contracted cash flows, inflation protection and conservative leverage profiles.

Further details can be found at www.pantheoninfrastructure.com

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Pantheon

Pantheon is a leading global private equity, infrastructure & real assets, private debt and real estate investor with 40 years' experience sourcing and executing private market investment opportunities on behalf of clients. Pantheon has US$88.0 billion in assets under management and advice (as at 30 June 2022) and employs over 464 staff, including more than 120 investment professionals, across offices in London, San Francisco, New York, Chicago, Hong Kong, Seoul, Bogotá, Tokyo, Dublin and Berlin.

Further details can be found at www.pantheon.com