Page 1

HICL Infrastructure Interim Results 6 Months Ended 30th September 2021 Released 24-11-2021 07:00 RNS Number : 3403T HICL Infrastructure PLC 24 November 2021 24 November 2021 HICL Infrastructure PLC INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2021 This announcement contains Inside Information . The Board of HICL Infrastructure PLC ( " HICL " , or the " Company " ) announces Interim Results for the Company for the six months ended 30 September 2021. The Interim Report is available at the following link : http://www.hicl.com/Interim Report2021 Highlights For the six months ended 30 September 2021 • • • • A strong result in the period , with growth in the Net Asset Value ( " NAV " ) per share of 3.1p , to 155.4p ( March 2021 : 152.3p ) . Annualised total shareholder return1 of 9.8 % , reflecting : value enhancement initiatives across the portfolio ; continued evidence of recovery from the Covid - 19 pandemic ; strong asset pricing in the Company's core geographies ; and higher than assumed inflation . The outlook for inflation is expected to remain elevated in HICL's core markets , making the inherent inflation correlation of HICL's return , at 0.8x , a key attraction for investors . Directors ' Valuation² of the portfolio at 30 September 2021 is £ 3,121.7m ( March 2021 : £ 3,011.9m ) on an Investment Basis . Pleasing performance from the portfolio in the year to date , delivering an underlying annualised portfolio return of 7.3 % , ahead of the weighted average discount rate of 6.8 % at March 2021 . The path to recovery has varied across the three largest demand - based assets . However , all three assets performed in line with the forecasts assumed at 31 March 2021 . Dividends paid in the period were 4.13p per share ( September 2020 : 4.12p ) and dividend cash cover increased to 1.043 times ( September 2020 : 0.83 times ) . The Company is on track to deliver a fully cash covered dividend of 8.25p per share for the year to March 2022 , in line with its stated target4 . HICL continues to pay the highest cash dividend in the listed core infrastructure peer group . • The Board has re - affirmed its dividend guidance of 8.25p per share for the year to 31 March 20234 . • HICL continues to advance its ambitious sustainability strategy , with progress made against the key sustainability metrics set out in the Annual Report 2021 . HICL's strategy of optimising portfolio composition was demonstrated by the recycling of capital from an opportunistic disposal into accretive incremental acquisitions post period end . HICL's vision of delivering social foundations , connecting communities and supporting sustainable modern economies guides the Company's acquisition focus , and InfraRed is progressing a strong , advanced pipeline across both traditional and emerging core infrastructure sectors . The Board continues to be encouraged by the signs of continued economic recovery from the Covid - 19 pandemic , the resilience of the portfolio and the strength of HICL's visible pipeline .