Brookfield Infrastructure Partners L.P. (NYSE: BIP) announced that its unitholders voted to approve a proposed corporate structure simplification at a special meeting held Oct. 14, 2026.

Approximately 60% of issued and outstanding BIP units were represented at the meeting, with over 99% of votes cast in favor of both resolutions required to implement the simplification. The resolutions were also approved by over 99% of minority unitholder votes under Multilateral Instrument 61-101.

The simplification involves converting BIP into a Canadian corporation, with BIP unitholders receiving Class A subordinated voting shares of Brookfield Infrastructure Partners Inc. Completion is not conditional on approval by shareholders of Brookfield Infrastructure Corporation (NYSE, TSX: BIPC) and is expected before the end of 2026, subject to receipt of a final order from the Supreme Court of British Columbia. A court hearing is expected on or about Nov. 3, 2026.

A separate special meeting for BIPC shareholders is scheduled for Oct. 29, 2026, at 9:00 a.m. EDT. The record date for BIPC shareholder voting eligibility is Aug. 21, 2026, and the proxy voting deadline for registered shareholders is 5:00 p.m. EDT on Oct. 27, 2026.

If BIPC shareholders do not approve the simplification, their exchangeable shares will remain outstanding and become exchangeable on a one-for-one basis for BIP Inc. Class A Shares, remaining a separate and smaller security with potentially lower trading liquidity and more limited index participation.

The BIPC board of directors unanimously recommended that shareholders vote in favor of the simplification, based in part on a fairness opinion from Scotiabank and a unanimous recommendation from its independent special committee.