Eaton Partners Acted as Exclusive Placement Agent for DIF Management B.V.

Eaton Partners, one of the largest placement agents and advisory firms and a wholly owned subsidiary of Stifel Financial Corp. SF, is pleased to have acted as exclusive placement agent for DIF Management B.V. (DIF)'s unlisted infrastructure fund. Eaton Partners worked alongside DIF to broaden out the existing investor base in new markets. The fund, DIF Infrastructure V ("DIF V"), reached the revised upward hard cap of €1.9 billion in capital commitments, exceeding its original €1.5 billion target and €1.75 billion hard cap.

The oversubscribed fund received strong support from a diverse range of institutional investors, including top-tier pension funds, insurers and fund-of-funds. DIF V is a continuation of DIF's strategy in prior funds, first launched in 2005, with a primary focus on long-term investment opportunities within core, low-risk infrastructure projects. This has included public-private partnerships (PPP/P3/PFI)/concessions, regulated assets, and long-term contracted renewable energy assets across Europe, North America and Australasia.

"The success of DIF V is a testament to this management team's consistent, strong performance in core, low risk infrastructure investing and their ability to source opportunities across three continents through their differentiated local presence. This resulted in high investor demand from North America, Europe and Asia including strong backing from the global consultants." said Gianluca D'Angelo, Head of EMEA at Eaton Partners. "We're delighted to have worked with such a talented team at DIF and congratulate the firm on another successful fundraise."

Wim Blaasse, Managing Partner of DIF said: "I am extremely proud of this achievement, which is a testament to the strength of the DIF platform. Over the past 13 years the team has been able to generate attractive returns for our investors by consistently investing in high quality projects, enhancing project value during our ownership through active shareholder engagement, as well as by achieving successful realisations. I am confident that we will continue to be successful in our chosen strategy, leveraging our unique global office network and dedicated local teams to complete attractive investment opportunities."

Over the past 12 months, Eaton Partners has successfully closed 20 funds and are actively raising capital for an additional 15 funds.

About Eaton Partners

Eaton Partners, a Stifel Company, is one of the oldest, largest and most experienced fund advisory and capital placement agents in the world, having raised more than $95 billion across more than 110 highly differentiated alternative investment funds and offerings, including limited partnership interests, general partner interests, co-investments and direct investment opportunities. Founded in 1983 with over 75 professionals across nine offices in North America, Europe and Asia, Eaton advises and raises institutional capital for investment managers across a range of alternative strategies – private equity, private credit, real assets, real estate and hedge funds/public market – in both the primary and secondary market. Partnering with a select number of the highest-quality fund managers, Eaton Partners has represented some of the most innovative funds of the last three decades.

Eaton Partners is a division of Stifel Nicolaus & Company, Incorporated, Member SIPC, NYSE. Eaton Partners subsidiary, Eaton Partners (UK) LLP is authorized and regulated by the Financial Conduct Authority (FCA). Eaton Partners subsidiary, Eaton Partners Advisors (HK) Limited is approved as a Type 1 License company under the Securities and Futures Commission (SFC) in Hong Kong. Eaton Partners and the Eaton Partners logo are trademarks of Eaton Partners, LLC, a limited liability company ® Eaton Partners, 2018.

Stifel Company Information

Stifel Financial Corp. SF is a financial services holding company headquartered in St. Louis, Missouri, that conducts its banking, securities, and financial services business through several wholly owned subsidiaries. Stifel's broker-dealer clients are served in the United States through Stifel, Nicolaus & Company, Incorporated; Keefe Bruyette & Woods, Inc.; Miller Buckfire & Co., LLC; Century Securities Associates, Inc.; and in the United Kingdom and Europe through Stifel Nicolaus Europe Limited. The Company's broker-dealer affiliates provide securities brokerage, investment banking, trading, investment advisory, and related financial services to individual investors, professional money managers, businesses, and municipalities. Stifel Bank & Trust offers a full range of consumer and commercial lending solutions. Stifel Trust Company, N.A. and Stifel Trust Company Delaware, N.A. offer trust and related services. To learn more about Stifel, please visit the Company's web site at www.stifel.com.

About DIF

DIF is an independent and specialist infrastructure investor and fund manager, with €5.6 billion assets under management across seven closed-end infrastructure funds and several co-investment vehicles. DIF invests in the global infrastructure market through two differentiated and complementary strategies:

• DIF Infrastructure V targets equity investments in public-private partnerships (PPP/PFI/P3), concessions, regulated assets and renewable energy projects which have long-term contracted or regulated income streams that generate stable and predictable cash flows. The fund targets both greenfield and brownfield projects in primarily Europe, North America and Australasia.
• DIF Core Infrastructure Fund I targets equity investments in small to mid-sized infrastructure assets in amongst others the energy, transportation and telecom sectors which generate stable and predictable cash flows that are protected through mid-term contracted income streams. The fund targets greenfield and brownfield investments in Europe, North America and Australasia.

DIF has a team of over 95 professionals in eight offices, located in Amsterdam, Frankfurt, London, Luxembourg, Madrid, Paris, Sydney and Toronto, through which it covers its target markets with dedicated local teams.

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