Brookfield Infrastructure Partners L P 's

Brookfield Infrastructure and Brookfield Accounts compete with each other and with Third Party Vehicles for investment opportunities. Overlapping investment mandates between Brookfield Accounts and Brookfield Infrastructure can result in competition or priority conflicts over certain opportunities. Brookfield Client Relationships may also compete with Brookfield Infrastructure or Brookfield Accounts for investments. Third Party Vehicles participate as bidders in competitive auctions alongside Brookfield Infrastructure and Brookfield Accounts and may invest in assets that compete for tenants or market share with Brookfield's portfolio. To mitigate conflicts of interest, Brookfield may take discretionary actions such as causing funds to remain passive or recusing them from voting. Additionally, conflicts may arise within different Brookfield Accounts due to varying fee structures and compensation incentives, leading to competing interests and decisions among Brookfield's business units and portfolio management teams.