EXCLUSIVITY TO ACQUIRE 120 MWDC SOLAR ASSET

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This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 ("MAR").

14 June 2019

US SOLAR FUND PLC

US SOLAR FUND ENTERS EXCLUSIVITY TO ACQUIRE 120 MWDC SOLAR ASSET

US Solar Fund plc (LSE:USF, or the Company), a newly established investment company focused on investing in solar power assets primarily in the United States, is pleased to announce it has entered exclusivity with a US-based solar developer to acquire an approximately 120 MWDC utility-scale solar power project located in the western United States (Project).

In keeping with the Company's investment policy. the Project has a long-term power purchase agreement with an investment-grade offtaker beginning in the second half of 2020, while USF's acquisition is expected to be simultaneous with construction commencement later in 2019. USF's investment manager, New Energy Solar Manager Pty Limited, is completing due diligence and is working expeditiously towards a binding agreement to acquire the project as well as structuring debt and tax equity finance.

The Board is pleased that the Project fits squarely in its investment policy and is reflective of the quality and scale of the opportunities currently available in the US solar market.

Liam Thomas, Chief Investment Officer for New Energy Solar Manager, USF's investment manager, said:

"We are delighted to have secured exclusivity on the first high-quality asset from our large, high quality pipeline within two months of our London Stock Exchange IPO. We look forward to updating investors on our progress as we continue to conduct due diligence on this high-quality asset. The US is a leading global solar market and is expected to experience continued strong growth, now largely driven by the improving cost competitiveness of solar PV and supportive policy."

The transaction is currently subject to disclosure limitations, but more detailed information will be provided once binding acquisition agreements are executed.

For further information, please contact:

US Solar Fund Investor RelationsWhitney Voûte +1 718 230 4329

Fidante Capital (Corporate Broker)John Armstrong-Denby / Nick Donovan +44 207 832 0900

About US Solar Fund plc

US Solar Fund plc listed on the London Stock Exchange in April 2019, following its successful US$200m IPO. The Company's investment objective is to provide investors with attractive and sustainable dividends, with an element of capital growth, by investing in a diversified portfolio of solar power assets in North America and other OECD countries in the Americas.

USF is aiming to deliver:

• an annual dividend yield target of 5.5% once all Solar Power Assets are operational with an average growth rate of 1.5 -2.0% per annum (on a fully invested and geared basis)

• initial target annual dividend yield of 2 to 3% until all Solar Power Assets are fully operational

• target net total return over the life of the Solar Power Assets of at least 7.5% per annum

Initial proceeds are expected to be invested or committed within six to nine months of Admission, with most plants expected to be operational within the following 12 months.

About the Investment Manager

USF is managed by New Energy Solar Manager (NESM). NESM also manages New Energy Solar, an Australian Securities Exchange (ASX)-listed fund which has committed over US$800m to US and Australian solar plants since late 2015.

NESM is owned by Walsh & Company, the funds management division of Evans Dixon, an ASX listed company (ASX: ED1) with over A$18 billion of funds under advice and management.

Further information on the Company can be found on its website at www.ussolarfund.co.uk.