November 28, 2022

TransJamaican Highway Limited (TJH) has provided an update on negotiations between TJH and Jamaican Infrastructure Operator Limited (JIO) for the acquisition of the shares of JIO. TJH has executed a Transaction Agreement (the “Transaction Agreement”) among the Company, Bouygues Travaux Publics (“Bouygues”) and Vinci Concessions (“Vinci Concessions”, and together with Bouygues, each, an “Operator Shareholder”), and Jamaican Infrastructure Operator Limited, a Jamaican limited liability company (the “Operator” or “JIO”) pursuant to which the Operator Shareholders will each grant the Company a call option (the “Call Options”) to purchase their respective equity interests in the Operator. In consideration for the Call Options to acquire their respective shares in JIO, the Company will pay Bouygues and Vinci Concessions an option price equal to an aggregate of US$16,100,000 (the “Option Price”) with funds currently in deposit in the Distribution Account.

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