Octopus Energy Regulatory News (ORIT)

31 January 2023

LEI: 213800B81BFJKWM2JV13

Octopus Renewables Infrastructure Trust plc

("ORIT" or the "Company")

Dividend Declaration

The Board of Octopus Renewables Infrastructure Trust plc is pleased to declare an interim dividend in respect of the period from 1 October 2022 to 31 December 2022 of 1.31 pence per ordinary share, payable on 24 February 2023 to shareholders on the register at 10 February 2023 (the "Q4 2022 Dividend"). The ex-dividend date will be 9 February 2023.

The Q4 2022 Dividend is the fourth of four equal dividends totalling 5.24 pence per ordinary share for the financial year to 31 December 2022 ("FY 2022"), meeting the Company's FY 2022 dividend target in full. This dividend is fully covered by cashflows arising from the Company's operating assets.

As detailed in the Company's prospectus dated 10 June 2021 (the "Prospectus"), a portion of the Company's dividends will be designated as an interest distribution for UK tax purposes. The interest streaming percentage for the Q4 2022 Dividend is 51.2%.

As announced on 20 January 2023 and in line with the Company's progressive dividend policy, for the financial year from 1 January 2023 to 31 December 2023 ("FY 2023"), the Company is targeting a dividend of 5.79p per ordinary share*. This increase of 10.5% over FY 2022's dividend target is in line with the increase to the Consumer Price Index (CPI) for the 12 months to 31 December 2022, and marks the second consecutive year the Company has increased its dividend target in line with inflation. For FY 2023, the Company has elected to increase the target in line with CPI, rather than the lower CPIH. The FY 2023 dividend target is expected to be fully covered by cashflows generated from the Company's operating portfolios.

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\* The dividend and return targets stated in this announcement are targets only and not profit forecasts. There can be no assurance that these targets will be met, or that the Company will make any distributions at all and they should not be taken as an indication of the Company's expected future results. The Company's actual returns will depend upon a number of factors, including but not limited to the Company's net income and level of ongoing charges. Accordingly, potential investors should not place any reliance on these targets and should decide for themselves whether or not the target dividend and target net total shareholder return are reasonable or achievable. Investors should note that references in this announcement to "dividends" and "distributions" are intended to cover both dividend income and income which is designated as an interest distribution for UK tax purposes and therefore subject to the interest streaming regime applicable to investment trusts.

Notes to editors

About Octopus Renewables Infrastructure Trust

Octopus Renewables Infrastructure Trust plc is a closed end investment company incorporated in England and Wales focused on providing investors with an attractive and sustainable level of income returns, with an element of capital growth, by investing in a diversified portfolio of renewable energy assets in Europe and Australia.

Further details can be found at www.octopusrenewablesinfrastructure.com

About Octopus Energy Generation 

Octopus Energy Generation ("OEGEN") is driving the renewable energy agenda by building green power for the future. Its London-based, leading specialist renewable energy fund management team invests in renewable energy assets and broader projects helping the energy transition, across operational, construction and development stages. The team was set up in 2010 based on the belief that investors can play a vital role in accelerating the shift to a future powered by renewable energy. It has a 12-year track record with approximately £5.4 billion of assets under management (AUM) (as of 30 September 2022) across 11 countries and total 3.2GW. These renewable projects generate enough green energy to power 2 million homes every year, the equivalent of taking over 800,000 petrol cars off the road. Octopus Energy Generation is the trading name of Octopus Renewables Limited.  

Further details can be found at www.octopusenergygeneration.com  

Neither the content of any website referred to in this announcement nor the content of any website accessible from hyperlinks is incorporated into, or forms part of, this announcement.