GCP Infrastructure Investments Limited Completes Repurchase of 625,000 Shares at 82.51p Average Price on 24 July 2026

Details of Share Repurchase Executed on 24 July 2026

GCP Infrastructure Investments Limited announced on 27 July 2026 that it completed a significant share repurchase on 24 July 2026, acquiring 625,000 ordinary shares with a nominal value of 1 pence each via its broker Canaccord Genuity Limited. The volume-weighted average price paid was 82.51 pence per share, with the highest price during the session at 82.60 pence and the lowest at 82.00 pence, reflecting a narrow 60 basis point range indicative of stable market conditions for GCP shares during the buyback.

This repurchase was conducted under the general authority granted by shareholders at the annual general meeting held on 12 February 2026. This mandate empowers GCP’s board to repurchase shares at prices below net asset value per share, subject to regulatory and market constraints. The execution through Canaccord Genuity underscores the company’s use of established financial intermediaries to manage its capital structure and enhance shareholder value within the infrastructure investment sector.

Progress of Share Buyback Programme Since December 2024

Since launching its share buyback programme on 12 December 2024, GCP Infrastructure Investments Limited has significantly reduced its issued share capital by purchasing a total of 80,984,363 ordinary shares into treasury. The 24 July 2026 repurchase of 625,000 shares represents a recent transaction in this ongoing programme, demonstrating steady execution throughout the first half of 2026.

Holding approximately 81 million shares in treasury provides GCP with flexibility for future capital management, potential allocation to employee share schemes, or cancellation to reduce share capital permanently. This sizeable treasury holding reflects the board’s view that share repurchases represent an attractive capital deployment given prevailing valuations. Retaining shares in treasury rather than cancelling them immediately preserves optionality for future capital allocation decisions. The sustained buyback activity indicates continued confidence in the valuation of GCP shares despite fluctuating market conditions and interest rate environments impacting infrastructure debt valuations.

Effects on Share Capital and Voting Rights

Following the 24 July 2026 repurchase, GCP Infrastructure Investments Limited has 884,797,669 ordinary shares issued, with 97,969,382 held in treasury. Consequently, 786,828,287 voting shares remain outstanding for disclosure under Financial Conduct Authority (FCA) rules. Excluding treasury shares from voting rights calculations is critical for investors monitoring substantial shareholdings and regulatory compliance.

The reduction in voting shares slightly increases the voting power of existing shareholders, potentially enhancing the influence of significant holders in company decisions at general meetings, assuming other holdings remain unchanged. GCP’s transparent disclosure of issued versus voting shares aligns with regulatory requirements and provides clarity on the company’s share capital structure. This transparency is particularly important for infrastructure investment companies like GCP, where long-term shareholders play a key role in strategic and capital allocation decisions affecting the debt portfolio composition.

GCP Infrastructure’s Business Model and Focus on UK Infrastructure Debt

GCP Infrastructure Investments Limited is a closed-ended investment company and FTSE-250 constituent with shares traded on the London Stock Exchange’s main market. The company aims to deliver regular, sustained, long-term distributions while preserving capital by investing in UK infrastructure debt and related assets backed by public sector revenues.

GCP targets infrastructure projects with long-term, public sector-backed, availability-based revenue streams, including social infrastructure, transport, utilities, and energy transition sectors. These investments often benefit from partial inflation protection, supporting real returns over multi-decade horizons. As of July 2026, GCP is advised by Gravis Capital Management Limited, which manages the portfolio in line with the company’s investment policy. This closed-ended structure and infrastructure debt focus position GCP as a key player in UK infrastructure financing for both institutional and retail investors seeking exposure to this asset class.

Environmental Recognition and London Stock Exchange Green Economy Mark

GCP Infrastructure Investments Limited has been awarded the London Stock Exchange’s Green Economy Mark, acknowledging its contributions to positive environmental outcomes. This accolade reflects GCP’s focus on infrastructure debt investments that support sustainable economic transition and environmental benefits, such as decarbonisation, improved transport efficiency, and renewable energy development.

The Green Economy Mark validates GCP’s commitment to environmental considerations within its investment process and aligns with increasing investor demand for sustainable and ESG-aligned options. This recognition may enhance GCP’s appeal to ESG-focused investors and influence capital allocation decisions by asset owners with sustainability mandates. Infrastructure debt investors benefit from this accreditation as infrastructure projects financed by GCP frequently deliver both financial returns and measurable environmental improvements.

Compliance with FCA Disclosure Guidance and Treasury Share Reporting

The 24 July 2026 share repurchase announcement includes guidance on treating treasury shares under the FCA’s Disclosure Guidance and Transparency Rules. GCP specifies that market participants should exclude treasury shares and use the figure of 786,828,287 voting rights when determining notification requirements for interests in the company.

This distinction between issued and voting shares impacts disclosure and governance calculations, including threshold notifications at 3%, 5%, 10%, and 15% shareholding levels. Using the voting share count rather than total issued shares ensures accurate compliance with FCA regulations. GCP’s clear communication reduces regulatory risk and reassures investors that disclosure standards are maintained in line with FCA rules.

Capital Management Strategy and Valuation Rationale

GCP’s ongoing share buyback programme, initiated in December 2024 and continuing through July 2026, reflects its capital management approach focused on enhancing shareholder value. By repurchasing shares at prices believed to be below net asset value per share, the company aims to improve earnings per share and net asset value per share for remaining shareholders.

The cumulative purchase of over 81 million shares, including the 625,000 shares bought at approximately 82.50 pence on 24 July 2026, demonstrates management’s conviction in the shares’ value relative to underlying assets and distribution capacity. The board’s decision to utilize shareholder-authorized buybacks rather than cancelling shares or investing in new assets indicates a strategic preference for this capital deployment method. This approach provides an additional return dimension for infrastructure debt investors beyond portfolio distributions.

Broker Choice and Market Execution

The 24 July 2026 repurchase of 625,000 shares was executed through Canaccord Genuity Limited, a prominent international investment bank active in UK equity market-making and trading. Selecting Canaccord Genuity aligns with standard market practices for FTSE-listed companies, ensuring share repurchases comply with trading and disclosure regulations.

The narrow price range during execution (82.00 to 82.60 pence, weighted average 82.51 pence) indicates efficient execution and stable market conditions. Employing established brokers enhances transparency and ensures repurchases occur at market-determined prices rather than negotiated bilateral deals, protecting continuing shareholders’ interests. Alongside advisers such as RBC Capital Markets and Burson Buchanan, Canaccord Genuity’s involvement reflects robust governance and professional infrastructure supporting GCP’s capital management.

Infrastructure Debt Market Environment and Long-Term Investment Outlook

GCP operates within the UK infrastructure debt market, characterised by long-dated, inflation-linked revenue streams and a growing emphasis on sustainable, decarbonised infrastructure. Infrastructure debt offers investors yield-generating assets with lower volatility than equities and payment profiles tied to long-term public sector or regulated revenues. The availability-based payment model underpinning many GCP-financed assets provides stable cash flows backed by government or regulated operators, reducing credit and liquidity risks compared to corporate debt.

The July 2026 repurchase occurs amid evolving interest rate policies, inflation trends, and public sector spending that influence infrastructure debt valuations. The sizeable cumulative buyback since December 2024 suggests GCP finds compelling value in its shares relative to alternative capital uses. For investors seeking long-term distributions backed by inflation-protected UK infrastructure assets, GCP’s sustained buyback activity and dividend capacity affirm board confidence in asset quality and distribution sustainability.