Gore Street En. Regulatory News (GSF)

22 October 2025

Gore Street Energy Storage Fund plc

(the "Company" or "GSF")

Board Succession

Gore Street Energy Storage Fund plc, the internationally diversified energy storage fund, is pleased to announce further progress regarding the Company's Board refreshment process and the appointment of Alexa Capital as sell-side advisor for selected pre-construction assets and the Company's operational asset in Germany.

Non-Executive Director Appointments

Angus Gordon Lennox

Further to the update on 2 October, the Company is pleased to announce the appointment of Angus Gordon Lennox as a new Non-Executive Director of the Company, effective from today, 22 October 2025. Angus will be a member of the Audit Committee, the Management Engagement Committee, and the Remuneration and Nomination Committee.

Angus is Chair of Aberforth Geared Value & Income Trust plc. He is also Executive Chair of two private family businesses. He is a past Chair of the Mercantile Investment Trust plc and a past Senior Independent Director of Securities Trust of Scotland, both of which he has now retired from. Previously, he had a 24-year career as a corporate broker, leading the investment companies team, first as a partner of Cazenove & Co and latterly as a Managing Director of J.P. Morgan Cazenove, which he left in August 2010.

Norman Crighton

The Company is also pleased to announce the appointment of Norman Crighton as a new Non-Executive Director of the Company, effective from today, 22 October 2025. Norman will be a member of the Audit Committee, the Management Engagement Committee, and the Remuneration and Nomination Committee.

Norman is an experienced public company director, having served on the boards of eight closed-end funds and one operating company. Currently, Norman is Non-Executive Chair of RM Infrastructure Income plc and AVI Japan Opportunity Trust plc, and his previous director appointments included Chair of Harmony Energy Income Trust plc. Norman has extensive fund experience, having previously been Head of Closed-end Funds at Jefferies International and Investment Manager at Metage Capital Limited, leveraging his 35 years of experience in investment trusts.

It is confirmed that there are no other details to be disclosed concerning Angus Gordon Lennox or Norman Crighton under UK Listing Rule 6.4.8.

Board Composition

The Company confirms that Non-Executive Directors Thomas Murley and Malcolm King will retire from the Board on 16 December 2025, following the publication of the Interim Report. Following Simon Merriweather's appointment on 18 September and today's announcement of Angus Gordon Lennox and Norman Crighton's appointments, and whilst giving consideration to ensuring an orderly transition and the need for continuity, it is intended that one further Non-Executive Director will be appointed in the coming months. Current Chair of the Company, Patrick Cox, and Non-Executive Director Caroline Banszky will not seek re-election at next year's Annual General Meeting, and currently expect to depart following the release of the Company's annual results in July 2026.

Following Thomas Murley's retirement from the Board, Simon Merriweather will take on the role of Chair of the Remuneration and Nomination Committee.

These changes reflect the Company's commitment to refreshing the Board composition and replacing the four members of the Board that have served since the Company's IPO in 2018, in line with corporate governance standards (i.e. within the recommended nine-year tenure guidance). Although the Board refreshment process has been accelerated, the Company is committed to ensuring that experienced and high-calibre individuals with the requisite skillset to best drive shareholder value are in place to act independently in the interests of all shareholders.

Appointment of Alexa Capital Limited

Alexa Capital Limited has been engaged to advise on the sale process for selected pre-construction assets and the German asset, "Cremzow", which the Company has previously announced its intention to sell.

Patrick Cox, Chair of the Company, said:

"We are pleased to welcome Angus Gordon Lennox and Norman Crighton to the Board. Angus brings deep experience across investment companies and capital markets, including chairing Aberforth Geared Value & Income Trust and previously holding senior roles at Cazenove and J.P. Morgan Cazenove. Norman brings extensive closed-end fund experience, currently chairing RM Infrastructure Income and AVI Japan Opportunity Trust and previously Chairing Harmony Energy Income Trust, with a strong record of creating value for shareholders. These appointments represent further progress in our Board refreshment process and strengthen the Board's skills and independence as we remain focused on value for all shareholders.

On behalf of the Board, I would like to extend our sincere thanks to Tom and Max for their years of dedicated service. Their thoughtful contributions and commitment have played a meaningful role in shaping the Company's direction, and we are deeply grateful for their support."

For further information:

Gore Street Investment Management

Alex O'Cinneide / Paula Travesso / Ben Paulden

Email: ir@gorestreetcap.com Tel: +44 (0) 20 4551 7860

Shore Capital (Joint Corporate Broker) 

Anita Ghanekar / Sophie Collins (Corporate Advisory) Tel: +44 (0) 20 7408 4090

Fiona Conroy (Corporate Broking)

J.P. Morgan Cazenove (Joint Corporate Broker)

William Simmonds / Jérémie Birnbaum (Corporate Finance) Tel: +44 (0) 20 3493 8000

Burson Buchanan (Media Enquiries)

Charles Ryland / Henry Wilson / Nick Croysdill Tel: +44 (0) 20 7466 5000

Email: gorestreet@buchanan.uk.com

https://www.gsenergystoragefund.com