Foresight Solar Fund Regulatory News (FSFL)

4 May 2023

Foresight Solar Fund Limited

(the "Company" or "Foresight Solar") Share Buyback Programme

The Board of Directors of Foresight Solar and the Company's Investment Manager, Foresight Group LLP, note the discount at which the Company's share price trades as compared to its net asset value ("NAV") per Ordinary Share and believe that the current share price does not accurately reflect the value of the Company's portfolio.

Accordingly, the Board today announces the commencement of a Share Buyback Programme. The Company has allocated an initial £10 million from its available cash reserves to the Share Buyback Programme and will review this allocation on an ongoing basis considering the Company's liquidity position and the pipeline of investment opportunities available, as well as the discount to NAV at which the shares are trading at any given time. There is no certainty that any buybacks will be conducted or that the full buyback allocation will be utilised.

The Company has engaged Jefferies International Limited as buy-back agent in relation to the Share Buyback Programme. The maximum price payable per share (exclusive of expenses) will not exceed the higher of: (i) 105% of the average middle market quotations for the five business days preceding the date of purchase; and (ii) the higher of the last independent bid and the highest current independent bid on the London Stock Exchange.

Share buybacks under the Engagement will be made pursuant to the authority granted to the Company at its general meeting held on 15 June 2022 which limit purchases of Ordinary Shares by the Company in the market to up to 14.99% of the Company's issued capital.

A buy-back of Shares on any trading day may represent a significant proportion of the daily trading volume in the Shares on the Exchange (and could exceed the 25% limit of the average daily trading volume of the preceding 20 business days as referred to in the Commission Delegated Regulation (EU) No. 2016/1052 on buy-back programmes (as it forms part of UK law by virtue of the European Union (Withdrawal) Act 2018)).

The Company will announce any market repurchase of Shares on the business day following the calendar day on which the repurchase occurred. The Company intends that the repurchased shares will be held in Treasury.

Foresight Solar is satisfied that it is not currently in a closed period, nor is it party to any inside information which has not previously been disclosed via Regulated Information Service.