International Public Partnerships Ltd — BeNEX platform wins a new €26m rail concession

(LSE:INPP) International Public Partnerships Ltd. (INPP) will invest approximately €26 million between 2027 and 2031 to fund BeNEX’s new 15-year RRX-B rail concession. The majority of this investment is expected to occur toward the end of the period. The new concession will add up to 5.1 million train-kilometres per annum to BeNEX’s operations. Following this expansion, BeNEX will operate more than 80 million train-kilometres and serve over 160 million annual passengers. The acquisition targets an internal rate of return (IRR) in the low-to-mid teens. INPP describes the transaction as accretive compared to a share buyback. The investment will be funded from realisation proceeds and surplus operational cash. There is potential for short-term use of the corporate debt facility to support the funding. Since June 2023, INPP has realised or committed more than £440 million, representing approximately 17% of its portfolio. The company highlights that the majority of the €26 million investment will be made toward the end of the 2027–2031 period. The new concession is expected to significantly expand BeNEX’s operational scale. The IRR targeted for the acquisition is described as being in the low-to-mid teens, which is considered attractive by the company. The funding strategy includes utilising both realised proceeds and surplus cash, with the option of short-term debt if needed. The company notes that the transaction is accretive versus a share buyback. INPP’s recent realisations and commitments since June 2023 total over £440 million, which is about 17% of its portfolio. The announcement underscores the scale and growth potential of the BeNEX platform following the new concession.

International Public Partnerships Ltd — Director Change

(LSE:INPP) International Public Partnerships Limited announces that Stephanie Coxon has resigned as Independent Non-Executive Director of the Company, effective immediately. The INPP Board has initiated an external recruitment process for Stephanie's permanent replacement. Stephanie Coxon stated that her resignation is due to differences of view on certain matters unrelated to the Audit Committee's business, financial reporting, portfolio performance, operational position of the Company and its portfolio, or the Investment Adviser's conduct or performance. Stephanie Coxon highlighted that INPP has delivered 20 years of unbroken dividend growth for shareholders since listing. Having completed the preparation and publication of the reviewed 2026 interim accounts, Stephanie decided that now is the right time to step down from the Board. Sarah Whitney, Chair, INPP, thanked Stephanie for her significant contributions to the Board since joining as a non-executive director in 2022. Following Stephanie's resignation, Giles Adu is appointed Interim Chair of the Audit and Risk Committee. All other Board committee memberships remain unchanged. INPP is a listed infrastructure investment company with a portfolio of over 130 infrastructure projects and businesses in the UK, Europe, Australia, New Zealand and North America. Amber Infrastructure Group is the Investment Adviser to INPP and is responsible for investment origination, asset management and fund management of the Company. Amber is part of Boyd Watterson Global Asset Management Group LLC, which has over $39 billion in assets under management, over 300 employees, offices in eight US cities, and presence in eleven countries.

International Public Partnerships Ltd — Notice of Half-Year Results

(LSE:INPP) International Public Partnerships Limited will announce its results for the six months to 30 June 2026 on Thursday 10 September 2026. There will be a live online presentation of the results at 9.30 am BST on Thursday 10 September 2026 for analysts and institutional investors. There will also be a live presentation for retail investors hosted via the Investor Meet Company platform at 4.00 pm BST on Thursday 10 September 2026. INPP is a listed infrastructure investment company that invests in global public infrastructure projects and businesses. 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. Amber Infrastructure Group is the Investment Adviser to INPP and is responsible for investment origination, asset management and fund management of the Company.

International Public Partnerships Ltd — Disposal of nine UK PPP projects at a premium

(LSE:INPP) International Public Partnerships Limited has agreed to divest its stakes in nine UK private-public partnership ('PPP') projects 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. Gross proceeds at completion are expected to exceed £58 million, implying a premium to the Company's last published valuation. Following this disposal, INPP will have realised over £440 million over the last three years, equivalent to c.17% 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%. The disposal relates to INPP's interest in the Ealing, Islington, Southwark and Lewisham BSF projects.

International Public Partnerships Ltd — Update regarding investment in toob

(LSE:INPP) International Public Partnerships Limited announces an update regarding its investment in toob, a fibre-to-the-premise network operator which has built its own network principally across Southampton and parts of South England, covering c.300,000 premises with over 140,000 customers. The Company has elected not to commit further capital to toob and, subject to final terms, will transfer its equity interest to the debt holders for a de minimis amount (from £24.1m or c.0.9% of NAV at 31 December 2025). Following the completion of the transaction, the Company's remaining exposure in toob will be £2.6m, being an investment ranking pari passu with senior debt funding. INPP will retain an entitlement to share in any future value realised upon a sale of toob. The Company's NAV per share guidance is unchanged and is expected to be broadly in line or marginally higher at 30 June 2026 when compared to 31 December 2025. The performance of INPP's other digital infrastructure investment, Community Fibre (1.0% of NAV as at 31 December 2025), continues to be in line with expectations. The Company's prior two investments in the UK digital assets achieved double digit IRRs, each generating significant shareholder value on exit.

Share Buyback Management

(LSE:INPP) International Public Partnerships Limited announced that it is about to enter a closed period ahead of the notification of its half-year results for the six months to 30 June 2026. The Company has previously appointed Deutsche Numis to manage an irrevocable, non-discretionary share buyback programme during closed periods. The existing share buyback programme is for up to £225 million and is expected to run until the end of March 2027. At the time of writing, approximately £150 million of shares have been bought by the Company. 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. 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 (as at 31 December 2025).

International Public Partnerships Ltd — 2026 First Interim Dividend

(LSE:INPP) International Public Partnerships Limited declared a first interim dividend for the financial year ended 31 December 2026, with a distribution amount per share of 2.19 pence. The ex-dividend date is 13 August 2026, the dividend record date is 14 August 2026, and the payment date is 15 September 2026. The Board notes that the 2025 annual dividend target of 8.58 pence per share has been achieved. The 2026 and 2027 annual dividend targets are 8.79 pence per share and 9.01 pence per share respectively. The Board continues to forecast a long-term projected annual dividend growth rate of c.2.5%. INPP is a responsible, long-term investor in over 130 infrastructure projects and businesses across the UK, Europe, Australia, New Zealand and North America. Amber Infrastructure Group is the Investment Adviser to INPP and is part of Boyd Watterson Global Asset Management Group LLC, which has over $39 billion in assets under management and over 300 employees as at 31 December 2025.

International Public Partnerships Ltd — INPP commits c.€46m to new BeNEX concession

(LSE:INPP) International Public Partnerships Limited ('INPP') announced that BeNEX, wholly owned by INPP, has been awarded a new passenger network concession serving Bavaria and Hesse, with INPP expecting to invest up to €46 million in BeNEX over the next four years. The project will be delivered through BeNEX's agilis operating platform in southern Germany and includes the procurement of up to 56 new electric passenger trains. This additional rolling stock will increase the network served by BeNEX in Germany by approximately 10 per cent across 14 of the 16 German federal states, providing in aggregate 74 million train kilometres in passenger services once all new concessions are fully operational. The project is expected to generate an attractive nominal internal rate of return ('IRR') in the low teens, in excess of that implied by a share buyback, and will be funded by future realisation proceeds and the Company's surplus operational cash flows. The project will commence operations in December 2030 and has a concession duration of up to 15 years from that date. Since June 2023, INPP has realised over £385 million or approximately 14% of the portfolio, with every realisation completed at or above its most recently published valuation. Over the same period, it has made investments or investment commitments of c.£480 million at a combined financial close IRR of more than 11%, ahead of the portfolio's weighted average discount rate of 9.1% as at 31 December 2025.