2 November 2023

LEI: 213800T8RBBWZQ7FTF84

Cordiant Digital Infrastructure Limited

Acquisition of Norkring België

Cordiant Digital Infrastructure Limited (the "Company" or "CORD"), an operationally focused specialist digital infrastructure investor, is pleased to announce it has agreed to acquire Norkring België NV ("Norkring"), which operates 25 communication and broadcast towers in Belgium, from its current shareholders Telenor Communication II AS and Participatiemaatschappij Vlaanderen NV.

Norkring is being acquired for a total enterprise value of ?5.25m, subject to customary adjustments. The transaction is being funded from CDIL's cash on its balance sheet and is conditional upon foreign direct investment approval in Belgium. It is expected to complete before the end of the Company's current financial year.

In addition to its towers, Norkring is the holder of two DAB licences and one DTT multiplex licence. It provides (i) radio and TV broadcasting services to commercial stations and distributors and (ii) colocation and site-hosting to broadcasters, niche communications operators and mobile network operators.  As part of a consortium, Norkring is conducting trials using 5G broadcast technology, which is expected to provide it with the ability to offer additional services to broadcast and mobile operator customers.

Commenting, Steven Marshall, Chairman, Cordiant Digital Infrastructure Group said:

"This acquisition represents an opportunity to acquire assets and an experienced team that offers a quality near-term income proposition, provides a platform for further asset diversification in Western Europe and comes with technology and knowhow that have the potential to benefit the development of CORD's other portfolio companies."

For Further Information, please visit www.cordiantdigitaltrust.com or contact:

Notes to Editors:

About the Company

Cordiant Digital Infrastructure Limited primarily invests in the core infrastructure of the digital economy - data centres, fibre-optic networks and telecommunication and broadcast towers in Europe and North America. Further details about the Company can be found on its website at www.cordiantdigitaltrust.com.

In total, the Company has successfully raised £795 million in equity, along with a further ?200m through a Eurobond with four European institutions; deploying the proceeds into four acquisitions: CRA; Hudson Interxchange; Emitel and Speed Fibre, which together offer stable, often index-linked income, and the opportunity for growth, in line with the Company's Buy, Build & Grow model

About the Investment Manager

Cordiant Capital Inc. ("Cordiant"), the Company's investment manager, is a sector-focused investment manager with substantial expertise and experience in digital infrastructure. Cordiant invests in global infrastructure and real assets, running infrastructure private equity and infrastructure private credit strategies through limited partnership funds and managed accounts. Cordiant's current client base consists of global insurance companies, pension plans and family offices.

About Norkring

Based in Brussels, Belgium Norkring (i) operates 25 communication and broadcast towers, 8 of which are freehold and 17 leased, and (ii) is the holder of two DAB licences and one DTT multiplex licence. It is conducting trials as part of a consortium using 5G broadcast technology which are partially funded and supported by the Flemish government. 5G broadcast technology opens the potential to offer additional services to broadcasters and mobile operators to meet the growing demand for watching video content on the move. Video content already drives the most traffic on public mobile networks, accounting for around two-thirds of overall global mobile data consumption.  The digital television market in Flanders currently has a limited number of viewers. However, there is a strong market for radio, with average listening times amongst the highest in Europe at 3.3 hours per day per listener, together with a healthy radio advertising market.