Sequoia Economic Infrastructure Fund Regulatory News (SEQI)

22 November 2021

Sequoia Economic Infrastructure Income Fund Limited

("SEQI" or the "Company")

 Portfolio Update

On 22nd November 2021, SEQI learnt via a press article that Bulb Energy Ltd ("Bulb") is supportive of entering into the Special Administration Regime ("SAR") established by the Energy Act 2011. If this were to occur, the Investment Adviser notes that the parent company of Bulb, Simple Energy Limited ("Simple"), would enter into normal administration.

SEQI would like to note that its Investment Adviser remains actively engaged with all the relevant Bulb stakeholders. As previously noted, SEQI's loan to Bulb is £55.0 million (approximately 2.9% of NAV as at 31 October 2021) and is guaranteed by Simple.

The primary objective of SAR is for the administrator to ensure continuity of energy supply to consumers. In this regard, the Investment Adviser has been working openly and constructively with all stakeholders including Ofgem to ensure the best interests of customers and employees.

The loan is senior ranking debt, secured on all the assets of Bulb and Simple. As of today, the value of Bulb's and Simple's assets are in excess of the amount of the loan. However, one consequence of Special Administration is that, whilst it is continuing, secured lenders to Bulb are unable to enforce their security. The substantial assets of Simple are outside the Special Administration process and are also collateral for the Company's loan.

The Investment Adviser supported by the Company's Board of Directors will continue to work with stakeholders to ensure a fair outcome for all parties including our shareholders that include retail investors, funds managing individuals' savings and pensions and other investors.

Further information will be provided in due course.

For further information please contact:

About Sequoia Economic Infrastructure Income Fund Limited

Sequoia Economic Infrastructure Income Fund's (SEQI) purpose is to generate attractive and sustainable risk adjusted returns for a wide range of investors through responsible and disciplined investment into a growing portfolio of diverse economic infrastructure debt. These assets would otherwise be difficult for investors to access, given the specialist nature of the origination and credit assessment skills needed. SEQI's investments support the provision of infrastructure on a sustainable basis and create social and economic benefits across the range of geographies in which it invests.

The Company is a constituent of the FTSE 250 Index of the London Stock Exchange.

LEI: 2138006OW12FQHJ6PX91