Title: Key Information Document URL Source: https://www.fundslibrary.co.uk/FundsLibrary.DataRetrieval/Documents.aspx?type=packet_fund_unit_doc_priip_kid&docid=bad18c0a-2dbc-4b27-b92d-2f730efc9295&user=4+hkjBlo4Baxqn7Zj83pzQCLBGRB2I64ZSNoTkRS2Ec= Published Time: Tue, 28 Oct 2025 14:43:53 GMT Number of Pages: 3 Markdown Content: PURPOSE This document provides you with key information about this investment product . It is not marketing material . The information is designed to help you understand the nature, risks, costs, potential gains and losses of this product and to help you compare it with other products . ## TYPE Ordinary Shares (‘Ordinary Shares’) in International Public Partnerships Limited (‘INPP’, ‘the Company’), a closed -ended investment company incorporated in Guernsey . The Ordinary Shares are denominated in Pounds Sterling . They are traded on the main market of the London Stock Exchange (‘LSE’) . There is no maturity date for the Ordinary Shares however the Company may, but is under no obligation to, repurchase Ordinary Shares in certain circumstances . There is no entitlement on the part of any investor or shareholder to any repayment or return of capital . The only way of achieving value is by disposing of Ordinary Shares by way of sale or transfer to another party in accordance with the Company’s Articles of Incorporation from time to time . The terms and any value achievable on that transfer are inherently uncertain and subject to market conditions . ## OBJECTIVES The Company aims to provide shareholders with returns derived through the Company investing directly or indirectly in infrastructure assets and related businesses, internationally . The Company derives earnings from these investments directly or indirectly in the form of dividends and interest . The Company may make prudent use of leverage for the purposes of making new investments and its group’s outstanding borrowings is limited to 50 % of gross asset value (or up to 66 % on a short -term basis if considered appropriate) . Through its Investment Adviser, Amber Fund Management Limited, the Company actively manages the portfolio and is able to access further investment opportunities . ## INTENDED INVESTOR The Company is not primarily targeted at retail investors . Typical investors in the Company are UK based asset and wealth managers regulated or authorised by the FCA, other institutional and sophisticated investors and private individuals (some of whom may invest through brokers), private clients of experienced wealth managers or execution -only retail brokers . An investment in the Company is suitable only for investors who are capable of evaluating the merits and risks of such an investment ; who have a long -term investment horizon and understand that there may be limited liquidity in the underlying investments of the Company ; for whom an investment in the Ordinary Shares constitutes part of a diversified investment portfolio ; who fully understand and are willing to assume the risks involved in investing in the Company ; and who have sufficient resources to be able to bear losses (which may equal the whole amount invested) that may result from such an investment . The Ordinary Shares (not acquired through a placement) are eligible for Individual Savings Accounts (‘ISAs’) and Self -Invested Personal Pensions (‘SIPPs’) . The Ordinary Shares are excluded from the FCA restrictions on promotion which apply to non - mainstream investment products . This is on the basis of the exemption for non -UK resident companies that are equivalent to investment trusts and the Ordinary Shares can therefore be recommended by independent financial advisers to their clients . # WHAT IS THIS PRODUCT? INTERNATIONAL PUBLIC PARTNERSHIPS LIMITED – ORDINARY SHARES # KEY INFORMATION DOCUMENT ## 1 ## KEY INFORMATION DOCUMENT ## AS AT 30 JUNE 2025 PRIIP manufacturer: International Public Partnerships Limited ISIN: GB00B188SR50 Website: www.internationalpublicpartnerships.com Call: +44 (0) 1481 742742 for more information This document has been prepared in accordance with The Packaged Retail and Insurance -based Investment Products (Retail Disclosure) (Amendment) Regulations 2024 . The cost calculations contained herein therefore no longer follow the methodology and language prescribed by Articles 50 and 51 of the MiFID Org Regulation or the Packaged Retail and Insurance -based Investment Products (Amendment) (EU Exit) Regulations 2019 (‘UK PRIIPs’), and the content of this document may differ to that of other Key Information Documents produced for other products . This Key Information Document (‘KID’) was produced as at 4 September 2025, prepared by reference to 30 June 2025 data. 2 WHAT COULD HAPPEN IN SEVERLY ADVERSE MARKET CONDITIONS? Whilst the Company has contingences in place to manage any discount to NAV at which the Company’s share trade in the market, there is no guarantee that the Company will use these methods, or that they will always be successful . Therefore, under severely adverse market conditions, there is a risk that the value of an investment in the Company’s shares could reduce significantly, potentially down to zero . WHAT HAPPENS IF THE COMPANY IS UNABLE TO PAY OUT? The Company is not required to make any payment to you in respect of your investment . If the Company were liquidated, you would be entitled to receive a distribution equal to your share of the Company’s net assets, i.e. after payment of all of its creditors . No service provider to the Company has any obligation to make any payment to you in respect of the Ordinary Shares . There is no compensation or guarantee scheme in place that applies to the Company and, if you invest in the Company, you should be prepared to assume the risk that you could lose all of your investment . WHAT ARE THE COSTS? This disclosure has been prepared in accordance with The Packaged Retail and Insurance -based Investment Products (Retail Disclosure) (Amendment) Regulations 2024 . The Reduction in Yield (‘RIY’) shows what impact the costs paid by the Company will have on the investment return you might get . The total costs take into account one -off, ongoing and incidental costs . The amounts shown here are the cumulative costs of the product itself, for three different holding periods . The figures assume you invest £10 ,000 . The figures are estimates and may change in the future . Portfolio transaction costs, borrowing costs and other ongoing costs are incurred by the Company, and these are set out in INPP’s Annual Report and Accounts . These costs, together with other market factors, can affect the share price of INPP and may therefore impact the return on your investment . There is no direct link between the Company’s share price and the costs that it pays . The summary risk indicator is a guide to the level of risk of this product compared to other products . It shows how likely it is that the product will lose money because of movements in the markets or because the Company is not able to pay you . The Company have classified this product as 4 out of 7, which is a medium risk class . This rates the potential losses from future performance at a medium level and assumes that poor market conditions could impact the value of the Ordinary Shares . Other risks materially relevant to the Ordinary Shares that are not included in the summary risk indicator include : – The Company is exposed to risks generally affecting the infrastructure sector and risks that may affect individual investments ; – The assets that the Company invests in (whether directly or indirectly) will typically be subject to third party leverage ranking ahead of the Company’s investment ; and – While the Company may seek to manage any discount to net asset value at which the Ordinary Shares trade, there is no guarantee that the Company can or will use these methods or that it will be successful . The Risk Indicator is calculated according to a prescribed quantitative methodology set out in the UK PRIIPS Regulations as defined below (the ‘Regulations’) which is not separately endorsed or approved by the Company . This product does not include any protection from future market performance so you could lose some or all of your investment . However, investors in Ordinary Shares are not liable to additional financial commitments or obligations, including contingent liabilities . Tax legislation of the investor’s home Member State may have an impact on the actual amounts of any returns on Ordinary Shares . PERFORMANCE INFORMATION Future returns will depend on a number of factors, including the performance of the Company’s investments, changes to market rates of interest, inflation, foreign exchange movements, changes to discount rates, changes to political policies, as well as regulatory and legal changes . This product does not track or compare itself to an index, benchmark, target or proxy . However, if you hold the product through an investment adviser/ investment manager, that person may set an appropriate benchmark against which you could compare its performance . WHAT COULD AFFECT MY RETURN POSITIVELY? The factors that are most likely to impact returns positively, include improvements in the macroeconomic environment in the geographies in which the Company invests, the performance of the Company’s investments exceeding expectations, inflationary changes, and improvements in the foreign exchange rates where the Company’s portfolio has exposure . WHAT COULD AFFECT MY RETURN NEGATIVELY? The factors that are likely to impact returns negatively are negative impacts on the Company’s portfolio in relation to operational issues, a decrease in demand for infrastructure assets, inflationary changes, deterioration to currencies in which the Company is exposed to, and adverse market conditions whereby the NAV and share price are adversely impacted . # WHAT ARE THE RISKS AND WHAT COULD I GET IN RETURN? ## RISK INDICATOR The Risk Indicator assumes you hold the Ordinary Shares for five years for illustrative purposes (as there is no maturity date) . The actual risk may be different for different holding periods . Ordinary Shares may be illiquid if there is no active third -party market of buyers and sellers . The Ordinary Shares are denominated in Pounds Sterling (‘GBP’) . The return when expressed in a currency other than GBP may change depending on currency fluctuations . # 1 2 3 4 5 6 7 ## LOWER RISK HIGHER RISK 3 ## INVESTMENT OF £10,000 SCENARIOS IF YOU CASH IN AFTER 1 YEAR IF YOU CASH IN AFTER 3 YEARS IF YOU CASH IN AFTER 5 YEARS Total costs £0 £0 £0 Impact on return (‘RIY’) per year 0% 0% 0% TABLE 1: COSTS OVER TIME The person advising you about this product and / or the product distributor may charge you other costs . If so, this person and / or the product distributor will provide you with information about these costs and show you the impact that all costs will have on your investment over time . The figures shown include all the costs of the product itself but exclude operating and interest expenses incurred by the Company and its portfolio of investments, and do not include any of the costs that you may pay to your advisor and / or distributor . TABLE 2: COMPOSITION OF COSTS The table below describes : – the impact each year of the different types of costs on the investment return that you might get at the end of the recommended holding period ; – the meaning of the different cost categories . ## THIS TABLE SHOWS THE IMPACT ON RETURN PER YEAR One -off costs Entry Costs N/A No entry costs are payable when you acquire Ordinary Shares, although you may be required to pay brokerage fees or commissions . Exit Costs N/A No exit costs are payable when you dispose of Ordinary Shares, although you may be required to pay brokerage fees or commissions . Ongoing costs Portfolio transaction costs N/A No portfolio transaction costs, relating to the buying and selling of underlying investments, are payable by you to the Company . Portfolio transaction costs are incurred by the Company, and these are set out in the latest Interim Report and Annual Report and Accounts . Other ongoing costs N/A No ongoing operational or advisory fees are payable by you to the Company . Borrowing costs and other ongoing costs are incurred by the Company, and these are set out in the latest Interim Report and Annual Report and Accounts . Incidental costs Performance fees N/A No performance fees are charged by the Company Carried interest N/A No carried interest is paid by the Company # HOW LONG SHOULD I HOLD IT AND CAN I TAKE MONEY OUT EARLY? There is no cooling off or cancellation period in respect of acquiring Ordinary Shares . There is no recommended minimum or maximum holding period for Ordinary Shares which is a decision for investors . The Company has no obligation to redeem or repurchase Ordinary Shares and the only way to dispose of Ordinary Shares is by sale or transfer to a third party . This may happen at any time in accordance with the Company’s Articles of Incorporation . The Ordinary Shares are currently listed and tradable on the main market of the LSE . The Company charges no fees or penalties on sale of Ordinary Shares, but you may be required to pay fees or commissions to any person arranging the sale on your behalf . ## HOW CAN I COMPLAIN? If you have any complaints about the product or conduct of the product manufacturer, you may lodge your complaint via the Company’s website at www .internationalpublicpartnerships .com or with the Company’s Administrator, Ocorian Administration (Guernsey) Limited, by email at inppteam -GG@ocorian .com or by post at PO Box 286 , Trafalgar Court, Les Banques, St . Peter Port, Guernsey, GY 1 4LY, Channel Islands . If you have a complaint about a person who is advising on, or selling, the product you should pursue that complaint with the relevant person . ## OTHER RELEVANT INFORMATION The risk, performance, cost calculations and language included in this KID have been prepared in accordance with The Packaged Retail and Insurance - based Investment Products (Retail Disclosure) (Amendment) Regulations 2024 . Ordinary Shares are held on the terms of the Company’s Articles of Incorporation available from the Company’s Administrator . Ordinary Shares are issued on the terms of and subject to the disclosures (including risk factors) contained in the documents required by the Company to be issued (inter alia) under the Listing Rules, the Disclosure Guidance and Transparency Rules of the FCA and the Alternative Investment Fund Managers Directive (including UK implementing rules) . Persons acquiring Ordinary Shares should be familiar with such documents and with the Company’s most recently published Report and Accounts and Regulated News Service announcements .