About Hamilton Lane:
Hamilton Lane (Nasdaq: HLNE) is one of the largest private markets investment firms globally, providing innovative solutions to institutional and private wealth investors around the world. Dedicated exclusively to private markets investing for more than 30 years, the firm currently employs approximately 740 professionals operating in offices throughout North America, Europe, Asia Pacific and the Middle East. Hamilton Lane has $956 billion in assets under management and supervision, composed of nearly $135 billion in discretionary assets and more than $821 billion in non-discretionary assets, as of December 31, 2024. Hamilton Lane specializes in building flexible investment programs that provide clients access to the full spectrum of private markets strategies, sectors and geographies. For more information, please visit http://www.hamiltonlane.com or follow Hamilton Lane on LinkedIn.

Index Definitions:
All Private Markets – Hamilton Lane’s definition of “All Private Markets” includes all private commingled funds excluding fund-of-funds, and secondary fund-of-funds.
Private Equity – A broad term used to describe any fund that offers equity capital to private companies
S&P 500 Index – The S&P 500 Index tracks 500 largest companies based on market capitalization of companies listed on NYSE or NASDAQ.
MSCI World Index – The MSCI World Index tracks large and mid-cap equity performance in developed market countries.
DJ Brookfield Global Infrastructure Index – The DJ Brookfield Global Infrastructure Index is designed to measure the performance of companies globally that are operators of pure-play
infrastructure assets.

Important Risk Information
Investors should carefully consider the investment objectives, risks, charges, and expenses of the Fund before investing. You should consider the Private Assets Fund's investment objectives, risks, charges, and expenses carefully before investing. For a prospectus that contains this and other information about the Fund, call 1 (888) 882-8212 or visit our website at www.hamiltonlane.com/PIF. Past performance is not indicative of future results. Investing in the Fund involves risk including loss of principal.

The Fund operates as a continuously offered non-diversified, closed-end management investment company under the Investment Company Act of 1940, as amended. The Fund is not a liquid investment. No Shareholder will have the right to require the Fund to redeem its Shares. The Fund from time to time intends to offer to repurchase Shares pursuant to written tenders by the Shareholders. The Adviser anticipates recommending to the Board that, under normal market circumstances, the Fund conduct repurchase offers of no more than 5% of the Fund’s net assets generally quarterly beginning on March 31, 2025 (or such earlier or later date as the Board may determine) and thereafter quarterly. Any repurchases of Shares will be made at such times and on such terms as may be determined by the Board from time to time in its sole discretion. The Fund may also elect to repurchase less than the full amount that a Shareholder requests to be repurchased. In determining whether the Fund should offer to repurchase Shares from Shareholders of the Fund pursuant to repurchase requests, the Board may consider, among other things, the recommendation of the Adviser as well as a variety of other operational, business and economic factors.

An investment in the Fund is generally subject to market risk, including the loss of the entire principal amount invested. An investment in the Fund represents an indirect investment in the securities owned by the Fund. Shares are appropriate only for those investors who can tolerate a high degree of risk and do not require a liquid investment and for whom an investment in the Fund does not constitute a complete investment program. Some of the principal risks of the Fund include limited operating history, limited liquidity, restricted and illiquid investments, non-diversification, and valuations subject to adjustments. The Fund may engage in the use of leverage, hedging, and other speculative investment practices that may accelerate losses. The Fund has limited operating history and the shares have no history of public trading. We do not expect a secondary market in the shares to develop. Hamilton Lane Advisors LLC is the Advisor to the Hamilton Lane Private Infrastructure Fund. Distribution Services, LLC and Hamilton Lane are unaffiliated. Hamilton Lane Private Infrastructure Fund is distributed by Distribution Services, LLC.

Hamilton Lane. Fund AUM is calculated as the sum of the Fund’s Net Asset Value as of January 31, 2025 ($54.41 million) and the amount of capital received from subscriptions effective
February 3, 2025 ($3.81 million).

Hamilton Lane. Returns shown net of all fees and expenses. Performance reflects the performance of the Hamilton Lane Private Infra Fund DE Holdings LLC. Performance is inclusive of annual distribution. Past performance is not a guarantee of future returns. Consider the investment objectives, risks, charges and expenses of the Fund carefully before investing. The prospectus contain this and other information about the Fund and is available at www.hamiltonlane.com/pif or by calling 888-882-8212.

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