Octopus Energy Regulatory News (ORIT)

2 November 2021

LEI: 213800B81BFJKWM2JV13

Octopus Renewables Infrastructure Trust plc

("ORIT" or the "Company")

Net Asset Value and Factsheet

The Board of Octopus Renewables Infrastructure Trust plc (the "Company" or "ORIT") announces that the unaudited net asset value ("NAV") of the Company as at 30 September 2021 on a cum-income basis was £490.8 million or 99.16 pence per ordinary share.

The Company's unaudited NAV has increased by £150.2 million or 1.85 pence per ordinary share compared to 30 June 2021. This increase was driven primarily by wholesale energy pricing in Sweden and the UK (+£10.8 million), particularly in the short-term. Updating for medium to long-term third-party forecasts published after the 30 September valuation date is expected to increase the valuation by a further £6.5 million. Movements after the 30 September valuation date will be recognised in the 31 December 2021 NAV.

Other drivers of the 30 September 2021 NAV include an increase in short term UK inflation assumptions (+£1.8 million) and the Company's recent fundraise, raising gross proceeds of £150 million. These movements were partially offset by dividends paid of £6.2 million or 1.25 pence per ordinary share and other net movements of -£3.9 million, including transaction costs relating to acquisitions made during the quarter.

 Factsheet

The Company's Q3 2021 factsheet is available to download at:

https://octopusrenewablesinfrastructure.com/investors/

For further information please contact:

\* 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 Renewables

Octopus Renewables is a specialist clean energy investor. Launched in 2010 its mission is to accelerate the transition to a future powered by renewable energy. It has a diverse portfolio of assets with a capacity of over 2.8GW, making it the largest commercial solar investor in Europe and a leading investor in onshore wind.

Octopus Renewables is also leading the next wave of renewables being built across Europe and Australia without government subsidies. There is a significant opportunity to unblock much needed investment by building bespoke portfolios of renewable assets at scale, across technologies and countries, to create better outcomes for our investors.

Further details can be found at www.octopusrenewables.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.