TINC Comm : Portfolio growth (+38%) enables a higher dividend - Today TINC publishes its annual report 2016-2017

• The net profit for the financial year 2016-2017 amounts to € 10,7 million (or € 0,52 per share), an increase compared to the net profit of the previous financial year which covered a 18 months period. This increase results from additional portfolio investments and the robust performance of TINC's participations;

• The investment portfolio includes 15 participations located in Belgium, the Netherlands and Ireland with a fair market value of € 177,2 million. Compared to the end of the past financial year, this is an increase of 38,4%. TINC invested a total of € 47,5 million in both existing and new participations with, among others, a first investment in Ireland (windfarm Meenwaun) and the acquisition of a participation in the Via A11 highway in Belgium. As from the current financial year both participations will contribute significantly to the result. TINC further committed to acquire an additional participation in the Dutch private-public partnership Princess Beatrix lock under a forward purchase agreement;

• At the end of the financial year, the portfolio consists of 43% availability based public-private partnerships, 46% renewable energy and 11% demand-based infrastructure. The weighted average discount rate of the portfolio is 8,25% within a range of 6,96%-10%;

• Following the successful capital increase of € 76,7 million in December 2016, TINC has approximately€ 50 million cash available at the end of the financial year to invest in the growth of its portfolio (after deduction of the proposed dividend). € 33,3 million of which is available to cover contractual investment commitments of TINC. This includes commitments to existing participations as for the acquisition of new additional participations;

• Following the end of the financial year, TINC has entered into a joint venture agreement aimed at the roll-out of fiber optic networks (FttH) in the Netherlands. This represents an investment commitment of € 20 million for TINC;

• Through the combination of the existing portfolio and the contractual investment commitments, the portfolio of TINC will grow over time to € 230 million;

• A dividend of € 0,48 per share will be proposed to the annual shareholders' meeting. Compared to the previous financial year, this is an increase of 2,7% (new shares issued in December 2016 are entitled to € 0,2550 per share). This represents a gross dividend yield of 4,36% on the introduction price of € 11 at IPO (compared to the then projected 4,25%);

• The annual report for the financial year 2016-2017 will be available from 18 September 2017 (Dutch version) onwards on the website of TINC (www.tincinvest.com)