Ecofin U.s. $ Regulatory News (RNEW)

4 May 2021

ECOFIN U.S. RENEWABLES INFRASTRUCTURE TRUST PLC

Net Asset Value, Dividend Declaration and Pipeline Update

Net Asset Value

Ecofin U.S. Renewables Infrastructure Trust PLC (the "Company" or "RNEW") announces that the unaudited net asset value of the Company as at 31 March 2021 on a cum-income basis was $123.8 million or $0.9906 per ordinary share.

Dividend Declaration

The Board is pleased to declare a maiden interim dividend in respect of the period from IPO on 22 December 2020 to 31 March 2021 of 0.4 cents per ordinary share, payable on 10 June 2021 to shareholders on the register on 14 May 2021. The ex-dividend date will be 13 May 2021.

The exchange rate for determining the dividend amount in Pounds sterling will be confirmed by way of an announcement by the Company on or around 19 May 2021.

At IPO, the Board stated that it would target an initial annual dividend yield of 2 to 3 per cent (based on the initial issue price) in respect of the period from Admission until 31 December 2021, assuming the net IPO proceeds were deployed and assets were substantially fully operational. The Board is pleased with progress to date and this interim dividend, which is being declared two months ahead of schedule (July) as had been indicated in the IPO prospectus, sets strong foundations to accomplish that target. The maiden interim dividend is fully covered by operating cashflows.

Pipeline Update

The Board is also pleased to provide several positive developments with respect to the Company's portfolio and investment pipeline. RNEW has committed approximately $6 million to acquire a commercial-scale ground-mount solar project in New Jersey with contracted revenues for 30 years. The closing of this acquisition is subject to certain conditions which mitigate risk for RNEW, including completion of mechanical construction expected in August 2021. This project will extend the term of RNEW's contracted revenues from investment-grade counterparties whilst also diversifying its asset base by location. Following this transaction, RNEW will have committed or invested approximately 55% of the IPO proceeds.

The Company's Investment Manager reports that its near-term (6 month) pipeline of potential investment opportunities remains strong and totalled $4.9 billion as of 31 March 2021, an increase of $1.6 billion since 31 December 2020. Moreover, the wind pipeline expanded from circa $300 million at year-end 2020 to more than $1.5 billion by 31 March 2021. The Investment Manager is currently pursuing near-term wind and solar investment opportunities that offer the potential for the Company's portfolio to be substantially invested in the coming months. The Investment Manager is focused on execution and the Board remains confident about fulfilling its target to fully commit the Company's IPO proceeds in 2021.

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Further information on the Company can be found on the Investment Manager's website at https://ecofininvest.com/rnew

The Company's LEI is 2138004JUQUL9VKQWD21.