Altera Infrastructure Declares Distributions on Series A, B and E Preferred Units

Rhea-AI Summary

Altera Infrastructure GP LLC has announced cash distributions for its preferred units, reflecting its commitment to deliver returns to investors. Distributions include:

• Series A: $0.4531 per unit, record date May 10, 2021, payment May 17, 2021.
• Series B: $0.5313 per unit, record date May 10, 2021, payment May 17, 2021.
• Series E: $0.5547 per unit, record date May 10, 2021, payment May 17, 2021.

Altera Infrastructure focuses on critical offshore energy infrastructure, with consolidated assets valued at approximately $4.5 billion.

Positive

• Announcement of cash distributions indicating financial health and commitment to investors.
• Preferred units trading on NYSE enhance visibility and access for investors.
• Consolidated assets of approximately $4.5 billion demonstrate substantial infrastructure investment.

Negative

• None.

ABERDEEN, United Kingdom, April 29, 2021 (GLOBE NEWSWIRE) -- Altera Infrastructure GP LLC, the general partner of Altera Infrastructure L.P. (Altera Infrastructure or the Partnership), has declared the following distributions:

Units	Distribution Period	Amount (Per Unit)		Record Date	Payment Date
Series A Preferred Units	February 15, 2021 to May 14, 2021	$0.4531		May 10, 2021	May 17, 2021
Series B Preferred Units	February 15, 2021 to May 14, 2021	$0.5313		May 10, 2021	May 17, 2021
Series E Preferred Units	February 15, 2021 to May 14, 2021	$0.5547		May 10, 2021	May 17, 2021

Altera Infrastructure’s cash distributions are reported on Form 1099 for United States tax purposes.

About Altera Infrastructure

Altera Infrastructure is a leading global energy infrastructure services partnership primarily focused on the ownership and operation of critical infrastructure assets in offshore oil regions of the North Sea, Brazil and the East Coast of Canada.

Altera Infrastructure has consolidated assets of approximately $4.5 billion, comprised of 50 offshore assets, including floating production, storage and offloading (FPSO) units, shuttle tankers (including one new build), floating storage and offtake (FSO) units, long-distance towing and offshore installation vessels and a unit for maintenance and safety (UMS). The majority of Altera Infrastructure’s fleet is employed on medium-term, stable contracts. Affiliates of global asset manager Brookfield Business Partners L.P. (NYSE: BBU) (TSX: BBU.UN) own 100 percent of Altera Infrastructure’s general partner.

Altera Infrastructure’s preferred units trade on the New York Stock Exchange under the symbols “ALIN PR A”, “ALIN PR B” and “ALIN PR E”, respectively.

For Investor Relations enquires contact: Jan Rune Steinsland, Chief Financial Officer
Tel:	+47 97 05 25 33
E-mail:	investor.relations@alterainfra.com

FAQ

What are the distribution amounts for Altera Infrastructure preferred units (ALIN-PA, ALIN-PB, ALIN-PE)?

The distributions are: Series A: $0.4531, Series B: $0.5313, Series E: $0.5547.

When is the payment date for Altera Infrastructure distributions?

The payment date for all distributions is May 17, 2021.

What is the record date for Altera Infrastructure distributions?

The record date for the distributions is May 10, 2021.

What is the focus of Altera Infrastructure's business?

Altera Infrastructure is focused on owning and operating critical offshore energy infrastructure assets.

What is the market capitalization of Altera Infrastructure?

Altera Infrastructure has consolidated assets valued at approximately $4.5 billion.