Dividend Declaration

6 February 2024

Aquila European Renewables plc

Dividend Payment

The Board of Aquila European Renewables plc (the "Company") is pleased to declare a fourth interim dividend for the year to 31 December 2023 of 1.3775 cents per Ordinary share. Of this amount, 0.2545 cents per ordinary share will be designated as an interest distribution. The dividend will be paid on 18 March 2024 to shareholders who appear on the register on 16 February 2024. The Company's Ordinary shares will be marked ex-dividend on 15 February 2024.

Shareholders should note that the default payment currency is Euro, however, shareholders can elect to have their dividends paid in Sterling. The last day for currency elections to be registered is 20 February 2024. Currency elections should be submitted via CREST in the usual manner. Certificated shareholders can access a currency election form via the Registrar's website at www.investorcentre.co.uk. The Company will announce the Sterling dividend rate in respect of the fourth quarterly dividend on 22 February 2024.

For further details contact:

Media contacts

Edelman Smithfield

Ged Brumby 07540-412301

Hamza Ali 07676 308914

Sponsor, Broker and Placing Agent

Numis Securities 020 7260 1000

Tod Davis

David Benda

George Shiel

NOTES

The objective of Aquila European Renewables plc is to provide investors with an attractive long-term, income-based return in EUR through a diversified portfolio of wind, solar PV and hydropower investments across continental Europe and Ireland. Through the diversification of generation technologies, the seasonal production patterns of these asset types complement each other to balance the cash flow, while the geographic diversification serves to reduce exposure to one single energy market. In addition, a balance is maintained between government supported revenues, fixed price power purchase agreements and market power price risk.

www.aquila-european-renewables.com

LEI: 213800UKH1TZIC9ZRP41