Riverstone Cred Regulatory News (RCOI)

Riverstone Credit Opportunities Income Plc

Portfolio Update

London, UK 10 March 2022: Riverstone Credit Opportunities Income Plc ("RCOI" or the "Company") has announced it has originated one new investment:

§ Harland & Wolff Group Holdings PLC.(Tkr: HRL LN) - RCOI participated in a $70.0 million first lien green term loan to a publicly listed infrastructure operator engaged in the development and operation of strategic maritime assets across the United Kingdom. At closing on 9 March 2022, $11.8 million was committed by RCOI and $7.9 million was drawn of the $35 million committed facility tranche.

The term loan facility will be split into two tranches:

· A committed facility of $35 million

· An uncommitted accordion facility of up to $35 million

The first lien term loan has a maturity of September 2023 and an estimated all-in yield to maturity of 13.2 percent for RCOI on a fully-drawn basis. Proceeds from the term loan will be utilised to fund working capital and capital expenditures associated with the fabrication of wind turbine generator jackets for the NnG offshore wind project, to repay existing indebtedness, to fund an interest reserve account, and to pay transaction fees & expenses. The Company will also grant Riverstone detachable warrants over new ordinary shares in the Company ("Warrants") as part of this transaction. A total of 8,665,380 Warrants will be issued, of which 2,970,987 warrants are for RCOI.

The term loan has been structured as a Green Loan following the Green Loan Principles published by the LMA, APLMA, and LSTA and a Sustainability-Linked Loan with performance indicators focused on social responsibility. Harland & Wolff is incentivised to upscale its group-wide apprenticeship programme aimed at the local communities in which it operates. Harland & Wolff plans to build on its success to-date and seeks further contracts within the renewables and "green maritime" sectors, such as fabrication contracts for offshore wind and hydrogen projects, new vessel builds, retrofits with sustainability credentials and other such contracts that would promote the UK Government's agenda to achieving Net Zero by 2050.

About Riverstone Credit Opportunities Income Plc:

RCOI lends to companies that build and operate the infrastructure used to generate, transport, store and distribute both renewable and conventional sources of energy, and companies that provide services to that infrastructure. RCOI also lends to companies seeking to facilitate the energy transition by decarbonizing the energy, industrial and agricultural sectors, building sustainable infrastructure and reducing or sequestering carbon emissions. The Company seeks to ensure that its investments are having a positive impact on climate change by structuring each deal as either a green loan or a sustainability-linked loan, documented using industry best practices.

For further details, see https://www.riverstonecoi.com/.

Neither the contents of RCOI's website nor the contents of any website accessible from hyperlinks on the websites (or any other website) is incorporated into, or forms part of, this announcement.

Media Contacts

For Riverstone Credit Opportunities Income Plc:

Adam Weiss

+1 212 271 2953