Brookfield Infrastructure Partners Lp Limited Partnership · NYSE:BIP
Brookfield Infrastructure Partners Lp Limited Partnership — Brookfield Business Partners — Investor Day (September 2025)
56 slides from Brookfield Infrastructure Partners Lp Limited Partnership's investor day presentation, Sep 25, 2025
Slide 1: Brookfield Business Partners
Brookfield Business Partners September 25, 2025
Slide 2: Powering Our Next Wave of Growth
Powering Our Next Wave of Growth Anuj Ranjan, CEO, Brookfield Business Partners Enabling the Movement of Money Globally Sir Ron Kalifa, Vice Chair and Head of Financial Infrastructure Doug Bayerd, Managing Partner, Brookfield Business Partners The Compounding Value of Our Business Jaspreet Dehl, CFO
Slide 3: Powering Our Next Wave of Growth
Powering Our Next Wave of Growth Anuj Ranjan CEO, Brookfield Business Partners
Slide 4: BBU is a large and valuable investment in Brookfield's private equity business
BBU is a large and valuable investment in Brookfield’s private equity business BROOKFIELD.COM 4
Slide 5: 25+ year private equity track record of exceptional returns
25+ year private equity track record of exceptional returns 26% Gross IRR > 50% 20% Historical value creation from operational improvement Net IRR Please refer to endnotes at the back of this presentation. BROOKFIELD.COM 5
Slide 6: Improved trading performance
Improved trading performance Total Return 100% 50% 0% BBUC +95% BBU +84% S&P 500 +59% -50% 2023 2024 Today2025 BBUC BBU S&P 500 Please refer to endnotes at the back of this presentation. BROOKFIELD.COM 6
Slide 7: Significant discount to intrinsic value
Significant discount to intrinsic value Value of Our Business (Per Unit) $54 +90% $28 Current Net asset trading price value Please refer to endnotes at the back of this presentation. BROOKFIELD.COM 7
Slide 8: Catalysts to support a re-rating
Catalysts to support a re-rating $ 2.1B $ 1.4B $ 250M $ 525M Realized Pay down of Buyback Strategic growth proceeds corporate program investments borrowings Please refer to endnotes at the back of this presentation. BROOKFIELD.COM 8
Slide 9: Secondaries are accretive options to surface value
Secondaries are accretive options to surface value $ 690M Sale of interests in three businesses Transaction value Expected cash redemption over next 18 months 8.6% Highly accretive and enhances future liquidity Discount to net Retained upside of continued value creation asset value Please refer to e
Slide 10: Introducing the new BBU Corporation
Introducing the new BBU Corporation BROOKFIELD.COM 10
Slide 11: Conversion into one publicly traded corporation
Conversion into one publicly traded corporation 1:1 Tax deferred for Canadian and U.S. investors One security expected to be listed on the NYSE and TSX Conversion of all BBU LP units and BBUC No impact to management fee or incentive distribution exchangeable shares Expected completion in Q1 2026 Mar
Slide 12: Benefiting all BBU investors
Benefiting all BBU investors + 50% 2x Improvement in Increase in index consolidated demand trading liquidity Please refer to endnotes at the back of this presentation. BROOKFIELD.COM 12
Slide 13: The foundation is set for the future
The foundation is set for the future BROOKFIELD.COM 13
Slide 14: Transforming the industrial backbone for decades
Transforming the industrial backbone for decades Early 2000s 2016–20 $1B Invested $7B Invested 2010–15 2021–Today $1B Invested $4B Invested Please refer to endnotes at the back of this presentation. BROOKFIELD.COM 14
Slide 15: The fourth industrial revolution is here
The fourth industrial revolution is here 1st Revolution 2nd Revolution 3rd Revolution 4th Revolution Steam power Mass production Automation/PC AI 1784 1870 1969 Today BROOKFIELD.COM 15
Slide 16: AI is rewiring the global economy
AI is rewiring the global economy ~$ 7T AI infrastructure $ 2T+ Annual productivity investment improvement opportunity Please refer to endnotes at the back of this presentation. BROOKFIELD.COM 16
Slide 17: We are at the leading edge of the AI opportunity
We are at the leading edge of the AI opportunity BROOKFIELD.COM 17
Slide 18: Established capabilities
Established capabilities AI Value Creation Office 200+ • 30+ team members across Brookfield • Sponsored by senior leadership • Catalyst to accelerate the deployment of AI AI use cases across • Common framework to evaluate ideas our business • Prioritization of best use cases Leveraging insights acro
Slide 19: Driving greater efficiency of a legacy production facility
Driving greater efficiency of a legacy production facility • AI and machine learning models utilized to analyze billions of data points across the production process • Achieved record-breaking operational performance • Exceeded cost savings targets by 60%+ • Created blueprint for efficiency savings
Slide 20: Optimizing our data insights at our residential mortgage insurer
Optimizing our data insights at our residential mortgage insurer • Developed and trained machine learning models based on 20 years of proprietary data • Increased automated underwriting by 1.5x • Simulated thousands of macro scenarios • Improved loss forecasting • Increased fraud detection and preve
Slide 21: Our businesses are propelled by AI – not disrupted by it
Our businesses are propelled by AI – not disrupted by it BROOKFIELD.COM 21
Slide 22: Enabling the Movement of Money Globally
Enabling the Movement of Money Globally Sir Ron Kalifa Vice Chair and Head of Financial Infrastructure Doug Bayerd Managing Partner, Brookfield Business Partners
Slide 23: Global shift driving $4 trillion financial infrastructure opportunity
Global shift driving $4 trillion financial infrastructure opportunity BROOKFIELD.COM 23
Slide 24: Opportunity fueled by disruptive trends
Opportunity fueled by disruptive trends Payments Capital Markets Banking Technology Wealth Cash-to-card Higher volatility Modernization of Growing household wealth conversion Gen AI adoption legacy systems Access to private markets Card network Distributed ledgers Rising regulatory burden Complexity
Slide 25: Asset-light financial services and technology businesses
Asset-light financial services and technology businesses Market leader Essential offering Product leadership Recurring cash flows Access to distribution Regulatory framework BROOKFIELD.COM 25
Slide 26: $7 billion of financial infrastructure assets under management
$7 billion of financial infrastructure assets under management + Combination creates market-leading digital High-quality, incumbent with strong brand—No. 2 payment processor in the Middle East market share in UK Executing transformation plan to drive growth Significant investment and expertise requi
Slide 27: Financial Infrastructure in Action: Payments Processing
Watch Now Financial Infrastructure in Action: Payments Processing BROOKFIELD.COM 27
Slide 28: The Compounding Value of Our Business
The Compounding Value of Our Business Jaspreet Dehl CFO, Brookfield Business Partners
Slide 29: Today's discussion
Today’s discussion Annual Report Card Our Financing Approach View of Value BROOKFIELD.COM 29
Slide 30: We've made excellent progress over the last year
We’ve made excellent progress over the last year BROOKFIELD.COM 30
Slide 31: Continuing a strong track record of financial performance
Continuing a strong track record of financial performance Adjusted EBITDA EBITDA Margin Adjusted EFO per Unit 24% 14% $6.90 16% $2.7B +12pp CAGR CAGR 12% $3.65 $1.3B 2020 Today 2020 Today 2020 Today Please refer to endnotes at the back of this presentation. BROOKFIELD.COM 31
Slide 32: Exceeded our capital recycling targets
Exceeded our capital recycling targets What we delivered What we said 2.1B last year $ 2B $ Target over 24 months Achieved over last 12 months Please refer to endnotes at the back of this presentation. BROOKFIELD.COM 32
Slide 33: Targeting ~$2 billion from our capital recycling initiatives
Targeting ~$2 billion from our capital recycling initiatives over the next 24 months Please refer to endnotes at the back of this presentation. BROOKFIELD.COM 33
Slide 34: Acquired more market leading businesses
Acquired more market leading businesses Provider of electric Manufacturer of critical Canadian residential and heat management consumables and testing multifamily mortgage solutions equipment lender BROOKFIELD.COM 34
Slide 35: Accelerated return of capital
Accelerated return of capital 3M BBUC shares $ 161M 7M repurchased Capital returned to owners Repurchases 4M BBU LP units repurchased Please refer to endnotes at the back of this presentation. BROOKFIELD.COM 35
Slide 36: Enhanced liquidity
Enhanced liquidity Pay down of $ 1.4B $ 2.9B Corporate corporate borrowings liquidity Please refer to endnotes at the back of this presentation. BROOKFIELD.COM 36
Slide 37: Maintaining a disciplined approach
Maintaining a disciplined approach Non-recourse $ 12.8B Proportionate No cross-collateralization non-recourse No significant near-term maturities borrowings No permanent corporate borrowings Please refer to endnotes at the back of this presentation. BROOKFIELD.COM 37
Slide 38: Our businesses are typically high yield issuers
Our businesses are typically high yield issuers Investment Grade Private Equity Financing ~ 75% Proportionate High borrowings are rated Yield Please refer to endnotes at the back of this presentation. BROOKFIELD.COM 38
Slide 39: Majority of our borrowings are actively traded
Majority of our borrowings are actively traded Broadly syndicated Bonds Duration typically five to seven years Typically no maintenance covenants Term Loans Longstanding relationships with credit lenders BROOKFIELD.COM 39
Slide 40: Our approach to financing is designed to manage risk and create value
Our approach to financing is designed to manage risk and create value BROOKFIELD.COM 40
Slide 41: Essential to our value creation plans
Essential to our value creation plans Risk Management Value Creation • Appropriate leverage • Opportunistic repricing • Optimal maturity profile • Proactive maturity extensions • Flexible documentation • Dividends to shareholders • Effective hedging strategy • Efficient execution BROOKFIELD.COM 41
Slide 42: Significant financing activity
Significant financing activity 14 $ 19B Transactions Financings over last completed twelve months Please refer to endnotes at the back of this presentation. BROOKFIELD.COM 42
Slide 43: Driving meaningful value creation
Driving meaningful value creation August 2025 September 2025 Repricing Refinancing 50 bps $ 50M Reduction in Annual interest spread expense savings Please refer to endnotes at the back of this presentation. BROOKFIELD.COM 43
Slide 44: Our view of value
Our view of value BROOKFIELD.COM 44
Slide 45: Executing our strategy
Executing our strategy Invest Enhance Recycle for value operations capital Buy great businesses Execute on operational Continue compounding that are excellent improvements to value and generating compounders of value build value strong returns to build on our track record BROOKFIELD.COM 45
Slide 46: Doubled over the last five years
Doubled over the last five years Net Asset Value (Per Unit) $54 2x $28 2020 Today Please refer to endnotes at the back of this presentation. BROOKFIELD.COM 46
Slide 47: Today we own exceptional businesses
Today we own exceptional businesses 20+ Global leader in advanced automotive batteries One of three global lottery technology services providers High-quality Leading technology software provider to auto dealers businesses Largest private Canadian residential mortgage insurer BROOKFIELD.COM 47
Slide 48: Supporting our view of net asset value
Supporting our view of net asset value ~65% $54 Value per Five largest businesses Unit Please refer to endnotes at the back of this presentation. BROOKFIELD.COM 48
Slide 49: Proven out by our realizations over time
Proven out by our realizations over time 25+ $ 8B 100% Realized BBU Aggregate value in investments proceeds line with NAV Please refer to endnotes at the back of this presentation. BROOKFIELD.COM 49
Slide 50: Key Takeaways
Key Takeaways Anuj Ranjan CEO, Brookfield Business Partners
Slide 51: Narrowing the gap to intrinsic value
Narrowing the gap to intrinsic value Largest participant in AI and digitalization is Executing on our strategy Brookfield’s highest accelerating our value to continue compounding returning strategy creation plans the value of our business Targeting 15%+ long-term annual growth BROOKFIELD.COM 51
Slide 52: Q&A
Q&A
Slide 53: Thank You
Thank You
Slide 54: Endnotes
Endnotes Figures throughout this presentation are rounded for presentation purposes. 2. $1.4 billion pay down of corporate borrowings represents BBU’s drawdowns, as applicable. Presented for industrials operations only repayments on its corporate credit facilities for the twelve-month based on year
Slide 55: Endnotes
Endnotes Page 32 proportionate share of non-recourse borrowings as at June 30, 2025. Page 48 1. $2.1 billion of realized proceeds presented at BBU’s proportionate share Excludes corporate borrowings. 1. Net asset value represents estimated view of intrinsic value as at June and includes proceeds fro
Slide 56: Important Cautionary Notes
Important Cautionary Notes NOTICE TO READERS materially from those expressed in the forward-looking statements and contents of this presentation. This presentation shall not constitute an offer Brookfield Business Partners is not making any offer or invitation of any kind forward-looking information
Brookfield Business Partners — Investor Day (September 2025) on 6ix