GCP Infrastructure Investments Limited

("GCP Infra" or the "Company")

LEI 213800W64MNATSIV5Z47

Quarterly investor update

12 November 2025

GCP Infra is pleased to announce the publication of its investor report, which is available at 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.

For further information, please contact:

Notes to the Editor

About GCP Infra

GCP Infra is a closed-ended investment company and FTSE-250 constituent, its shares are traded on the main market of the London Stock Exchange. The Company's objective is to provide shareholders with regular, sustained, long-term distributions and to preserve capital over the long term by generating exposure to UK infrastructure debt and related and/or similar assets.

The Company primarily targets investments in infrastructure projects with long term, public sector-backed, availability-based revenues. Where possible, investments are structured to benefit from partial inflation protection. GCP Infra is advised by Gravis Capital Management Limited.

GCP Infra has been awarded with the London Stock Exchange's Green Economy Mark in recognition of its contribution to positive environmental outcomes.