GCP Infrastructure Investments Limited

(“GCP Infra” or the “Company”)

Quarterly investor update

12 November 2025

GCP Infra is pleased to announce the publication of its investor report, which is available at http://www.gcpinfra.co.uk.

At 30 September 2025:

·    The net asset value was, as previously announced, 101.40 pence per ordinary share;

·    The Company was exposed to a diversified and partially inflation protected portfolio of 47 investments with an unaudited valuation of £858.9 million; and

·    The portfolio had a weight-adjusted average annualised yield of 8.0%, principal outstanding of £912.2 million and an average life of 11 years.

Capital allocation

The Board reconfirms its commitment to the Company’s capital allocation policy set out in the 2024 Annual Report and Accounts, continuing to prioritise repayment of leverage, as well as reducing equity-like exposures and exposures in certain sectors, whilst also facilitating the return of £50.0 million of capital to shareholders. At 30 September 2025, the Company had £20.0 million (30 June 2025: £43.0 million) outstanding under its revolving credit arrangements, representing a net debt position of £8.0 million (30 June 2025: £36.2 million) which compares to the Company’s unaudited NAV of £848.7 million (30 June 2025: £864.1 million).

Further supporting the capital allocation policy, the Company bought back 8,937,270 ordinary shares in the quarter. In aggregate, the Company has purchased c. £23 million of shares since announcing the capital allocation policy.

The Company continues to progress transactions to dispose of assets in those sectors targeted in the capital allocation policy. If completed, such transactions would enable the Company to complete the capital allocation policy objectives of returning at least £50 million to shareholders and reducing the Company’s outstanding debt to nil. Further announcements will be made in due course, including as part of the Company’s annual report and financial statements, which are due to be published in December 2025.