BCI Annual Report

F2021-Corporate-Annual-Report

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10.0% of assets under management Year-over-year increase of $1.7 billion COMPLETED our first direct investment in India. BCI, alongside other institutional partners, acquired a 100 per cent stake in a portfolio of telecom tower assets for a total equity commitment of approximately US$3.4 billion. The tower company, now called Summit DigiTel Infrastructure, is one of the largest telecom infrastructure providers in India. The towers are strategically located across India and offer a secure, long-term source of revenue. INCREASED our investment in Teays River Investments LLC (Teays), a U.S.-based company with interests in industry-leading food and agricultural-focused businesses. Teays is part of our strategy to establish investment platforms in specific sectors to enhance our access to attractive long-term investments. DEPLOYED $1.6 billion across the program. 1 Assets in the infrastructure & renewable resources program are valued annually at December 31. Returns for the program are calculated on an internal rate of return basis and benchmarks are presented on a time-weighted rate of return basis. 2 Europe includes the United Kingdom. 3 Historical returns for the infrastructure program are presented on an internal rate of return basis. Returns presented are final audited. 4 Historical returns for the renewable resources program are presented on an internal rate of return basis. Returns presented are final audited. GLOBAL DISTRIBUTION OF INFRASTRUCTURE & RENEWABLE RESOURCES PROGRAM PERFORMANCE (%) As at December 31, 2020 1 INFRASTRUCTURE & RENEWABLE RESOURCES PROGRAM PERFORMANCE (%) Annualized return for the period ended December 31, 2020 1 32.1 United States 23.7 Emerging Markets 20.3 Canada 14.8 Europe 2 9.1 Asia Pacific HISTORICAL RENEWABLE RESOURCES PROGRAM RETURNS (%) Annualized return for the period ended December 31, 2019 4 HISTORICAL INFRASTRUCTURE PROGRAM RETURNS (%) Annualized returns for the periods ended December 31, 2019 3 Benchmark 1 Year 6.7 7.8 Benchmark 5 Year 10 Year 15 Year 7.2 7.6 7.7 9.8 10.5 10.5 Benchmark 7.0 5 Year 7.6 2 0 2 0 - 2 0 2 1 C o r p o r a t e A n n u a l R e p o r t M a n a g e m e n t ' s D i s c u s s i o n a n d A n a l y s i s 3 9 M a n a g e m e n t ' s D i s c u s s i o n a n d A n a l y s i s

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