Aquila Euro. Regulatory News (AERI)

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN, OR INTO, THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL OR TO U.S. PERSONS.

This announcement is not an offer of securities for sale in any jurisdiction. This announcement is not a prospectus (or prospectus equivalent document) or an advertisement. Investors should not subscribe for or purchase any Ordinary Shares (as defined below) based on this announcement or the Information Document (as defined below). Neither this announcement nor any part of it shall form the basis of or be relied on in connection with or act as an inducement to enter into any contract or commitment whatsoever. No reliance may be placed for any purpose on the information contained in this announcement or its accuracy or completeness. The material set forth herein is for information purposes only and should not be construed as an offer of securities for sale in any jurisdiction.

28 September 2023

Aquila European Renewables plc

Euronext Growth Dublin

Aquila European Renewables plc ("AER" or "the Company"), the London-listed investment company advised by Aquila Capital Investmentgesellschaft mbH, is pleased to announce its intention to seek admission of all of its ordinary shares with a nominal value of 1 cent each (the "Ordinary Shares") to trading on Euronext Growth Dublin, a market operated by Euronext Dublin (the "Proposed Admission").

The Company is not raising any new funds and will not place or issue any new Ordinary Shares in connection with application for the Proposed Admission. No Ordinary Shares will be offered or marketed to the public in Ireland, the UK or elsewhere in connection with the Proposed Admission. The Company will remain listed on the premium segment of the Official List and admitted to trading on the Main Market for listed securities of the London Stock Exchange.

The Company has today published an Information Document in connection with the Proposed Admission which will shortly be available on the Company's website at https://www.aquila-european-renewables.com/. The Information Document is not a prospectus and has not been approved by the Central Bank of Ireland, the Financial Conduct Authority or any other regulatory authority.

It is expected that such admission will become effective, and that dealings in the Ordinary Shares on Euronext Growth Dublin, may commence, on 2 October 2023.

The Company's ticker on Euronext Growth Dublin will be AERI and the Company's ticker on the London Stock Exchange will remain as AERS for the Sterling line and AERI for the Euro line. The ISIN is GB00BK6RLF66. On the Proposed Admission date, there will be 408,225,705 Ordinary Shares in issue. Currently, the Company has 28,335,392 Ordinary Shares held in treasury and 379,890,313 Ordinary Shares in circulation. The Ordinary Shares in circulation (379,890,313) may be used by shareholders as the denominator for the calculation by which to determine if they are required to notify their interest in the Company under the FCA's Disclosure Guidance and Transparency Rules.

Ian Nolan (Chairman of AER) commented:

"We announced our intention to explore a secondary listing in May 2023 as one of a number of key initiatives the Board is exploring to help secure recognition in the share price of the real underlying value of the portfolio. Given the diverse European focus of the Company's strategy and its EUR denomination, we believe a European listing will further enhance the Company's marketability and appeal in Europe thereby also potentially enhancing liquidity of the underlying shares and providing opportunities for further growth."

For further information please contact:

Numis (Sponsor, Broker and Placing Agent and Euronext Growth Listing Sponsor)

Tod Davis 020 7260 1000

David Benda

Apex Listed Companies Services (UK) Limited (Company Secretary) 020 3327 9720

LEI Number: 213800UKH1TZIC9ZRP41

General

Numis Securities Limited ("Numis") is acting as sponsor, under the Euronext Growth Markets Rule Book Parts I and II both dated 1 April 2022. Numis is authorised and regulated in the United Kingdom by the FCA. Numis is acting exclusively for the Company and no-one else in connection with the Proposed Admission and will not be responsible to anyone other than the Company for providing the protections afforded to its clients or advising any other person in connection with the Proposed Admission or any other matter referred to in this announcement.