BIP and BIPC
Brookfield Infrastructure has now received all required approvals (including shareholder and unitholder approvals, and the final order of the Supreme Court of British Columbia) to complete the previously announced simplification of Brookfield Infrastructure’s corporate structure (the “Simplification”). The Simplification is expected to close on November 19, 2026.
Brookfield Infrastructure has now received all required approvals to complete the simplification. The transaction is expected to close on November 19, 2026, and BIP Inc. is expected to commence trading on or about November 23, 2026.
BIP and BIPC holders will receive one share of BIP Inc. for each unit or share of BIP or BIPC that they hold.
Next Steps
Eligible Canadian unitholders of BIPC do not have any action required at this time.
Eligible Canadian unitholders of BIP who wish to obtain tax-deferred treatment in connection with the transaction should make a joint tax election with BIP. The tax election process will be facilitated through our online portal at https://bip.taxelection.ca/, which will be available following the closing of the transaction.
Eligible Canadian unitholders may also submit an optional notice form to Brookfield indicating their intention to make a joint tax election. The notice is separate from the tax election and is not required to make the election or to obtain tax-deferred treatment. The optional notice form should be submitted to [email protected] by 5:00 p.m. (Toronto time) on November 17, 2026.
BIP Frequently Asked Questions
You will receive one class A subordinate voting share of BIP Inc. (“BIP Inc. Class A Share”) for each BIP limited partnership unit (“BIP unit”) you own. If you hold your BIP unit(s) through a broker, bank, or other intermediary, you will receive your BIP Inc. Class A Share(s) in the same account you hold your BIP LP unit(s). The BIP Inc. Class A Shares can be bought and sold exactly as the previous BIP LP units were and will continue to trade on both the TSX and NYSE under the ticker symbol “BIP”.
Eligible Canadian unitholders of BIP who wish to obtain tax-deferred treatment in connection with the transaction should make a joint tax election with BIP. The tax election process will be facilitated through our online portal at https://bip.taxelection.ca/, which will be available following the closing of the transaction
Eligible Canadian unitholders may also submit an optional notice form to Brookfield indicating their intention to make a joint tax election. The notice is separate from the tax election and is not required to make the election or to obtain tax-deferred treatment. The optional notice form should be submitted to [email protected] by 5:00 p.m. (Toronto time) on November 17, 2026.
Additional election forms for holders of BIP exchangeable units are found below:
The transaction is expected to be tax-deferred for the vast majority of Canadian and U.S. investors in BIP LP units. Taxable Canadian BIP LP unitholders will need to file a simple tax election to obtain tax-deferred treatment, which can be facilitated through www.bip.taxelection.ca
No. The transaction will preserve your existing economic exposure to Brookfield Infrastructure since the BIP Inc. Class A Shares are structured to be economically equivalent to the BIP units.
The BIP preferred units will continue to trade on the TSX and the NYSE, as applicable. You do not need to take any action and there are no changes to the terms of the BIP preferred units.
No, following closing, and subject to approval by its board of directors, BIP Inc. intends to declare and pay the fourth quarter dividend on the BIP Inc. Class A Shares in an amount consistent with BIP’s current quarterly distribution of US$0.455 per unit. BIP Inc. also intends to assume BIP’s existing normal course issuer bid following closing, subject to acceptance by the Toronto Stock Exchange (the “TSX”).
No. One of the key benefits of the transaction is the elimination of partnership tax reporting for BIP LP unitholders.
Investors will receive standard corporate tax reporting, including CRA T5 slips in Canada, IRS Forms 1099 in the U.S. and CRA NR4 slips for other non-Canadians.
Following the transaction, the holders of BIP Inc. Class A Shares will have enhanced corporate governance rights as shareholders of a public corporation, including the right to vote on director elections and other shareholder matters.
BIP’s DRIP program will be terminated. BIP Inc. is expected to adopt a dividend reinvestment plan that is substantially similar to the distribution reinvestment plan currently available to BIP LP unitholders. Registered investors who currently participate in BIP’s DRIP will be required to re-enroll in the BIP Inc. DRIP following completion of the transaction.
The Simplification is expected to close on November 19, 2026.
BIPC Frequently Asked Questions
No action is required at this time for the vast majority of Canadian and U.S. investors. Investors should review the Management Information Circular and consult their tax advisors to confirm next steps for their individual circumstances.
No. The transaction will preserve your existing economic exposure to Brookfield Infrastructure since the BIP Inc. Class A Shares are structured to be economically equivalent to the BIPC shares.
No, following closing, and subject to approval by its board of directors, BIP Inc. intends to declare and pay the fourth quarter dividend on the BIP Inc. Class A Shares in an amount consistent with BIPC’s current quarterly distribution of US$0.455 per unit.
The transaction is expected to be tax-deferred for the vast majority of Canadian and U.S. investors in BIPC shares, subject to individual circumstances. Investors should review the Management Information Circular and consult their tax advisors.
Following the transaction, BIP Inc. shareholders will have enhanced corporate governance rights as shareholders of a public corporation, including the right to vote on director elections and other shareholder matters.
The Simplification is expected to close on November 19, 2026.