CK Infrastructure : COMPLETION OF THE REDEMPTION AND DELISTING OF U.S.$1,200,000,000 5.875 PER CENT. GUARANTEED PERPETUAL CAPITAL SECURITIES

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

This announcement is for information purposes only and does not constitute an invitation or offer to acquire, purchase or subscribe for securities or an invitation to enter into any agreement to do any such things, nor is it calculated to invite any offer to acquire, purchase or subscribe for any securities.

The material contained in this announcement is not for distribution or circulation, directly or indirectly, in or into the United States. This announcement is solely for the purpose of reference and does not constitute an offer to sell or the solicitation of an offer to buy any securities in the United States or any other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. Accordingly, the securities offer are being offered and sold only outside the United States in offshore transaction in compliance with Regulation S under the Securities Act.

OVPH Limited

(Incorporated in the Cayman Islands with limited liability)

(the "Issuer")

U.S.$1,200,000,000 5.875 per cent. Guaranteed Perpetual Capital Securities

(the "Securities")

(Stock code: 5614)

unconditionally and irrevocably guaranteed by

(formerly known as Cheung Kong Infrastructure Holdings Limited)

(Incorporated in Bermuda with limited liability)

(Stock code: 1038)

(the "Guarantor")

(Common Code: 136691830, ISIN Number: XS1366918305)

COMPLETION OF THE REDEMPTION AND DELISTING OF THE SECURITIES

Reference is made to the announcement issued by the Issuer and the Guarantor dated 28th January 2021 (the "Announcement") in relation to the Issuer informing the Agent of its intention to redeem all of the outstanding Securities in full on the Redemption Date. Unless otherwise defined, capitalised terms used herein shall have the same meanings as defined in the Announcement.

On the Redemption Date, the Issuer has redeemed all of the aggregate principal amount of U.S.$1,200,000,000 Securities outstanding at the redemption price equal to 100.0 per cent. of the principal amount thereof, plus accrued and unpaid Distribution of U.S.$35,250,000. The total redemption price paid by the Issuer on the Redemption Date is U.S.$1,235,250,000. As at the date of this announcement, there are no outstanding Securities in issue.

The Guarantor considers that there will be no material impact on its financial position as a result of the redemption of the Securities.

Application has been made to The Stock Exchange of Hong Kong Limited for the withdrawal of the listing of the Securities. Such withdrawal of listing is expected to become effective upon the close of business on 9th March 2021.

1st March 2021

As at the date of this announcement, the sole director of the Issuer is Mr. Jarladth TRAVERS.

As at the date of this announcement, the Executive Directors of the Guarantor are Mr. LI Tzar Kuoi, Victor (Chairman), Mr. KAM Hing Lam (Group Managing Director), Mr. IP Tak Chuen, Edmond (Deputy Chairman), Mr. FOK Kin Ning, Canning (Deputy Chairman), Mr. Frank John SIXT, Mr. Andrew John HUNTER (Deputy Managing Director), Mr. CHAN Loi Shun (Chief Financial Officer) and Ms. CHEN Tsien Hua; the Non-executive Directors are Mr. CHEONG Ying Chew, Henry (Independent Non-executive Director), Mrs. KWOK Eva Lee (Independent Non-executive Director), Mrs. SNG Sow-mei alias POON Sow Mei (Independent Non-executive Director), Mr. Colin Stevens RUSSEL (Independent Non-executive Director), Mr. LAN Hong Tsung, David (Independent Non-executive Director), Mr. Barrie COOK (Independent Non-executive Director), Mr. Paul Joseph TIGHE (Independent Non-executive Director), Mrs. LEE Pui Ling, Angelina and Mr. George Colin MAGNUS; and the Alternate Directors are Mrs. CHOW WOO Mo Fong, Susan (Alternate Director to Mr. FOK Kin Ning, Canning), Mr. MAN Ka Keung, Simon (Alternate Director to Mr. IP Tak Chuen, Edmond) and Ms. Eirene YEUNG (Alternate Director to Mr. KAM Hing Lam).