Purchase of shares re investment advisory fees

15 September 2022

Aquila Energy Efficiency Trust PLC

(the "Company")

Purchase of shares in relation to investment advisory fees

The Company announces that Aquila Capital Investmentgesellschaft mbH ("Investment Adviser") purchased 195,215 ordinary shares at an average price of GBP0.78 per share, reflecting the investment advisory fees due for the six months to 30 June 2022.

During the first year of its appointment, the Investment Adviser has undertaken to apply its fee (net of any applicable tax) in subscribing for, or acquiring, Ordinary Shares.

As announced on 21 April 2022, the Investment Adviser has agreed to amend the current Investment Advisory Agreement such that any advisory fees payable are charged only on committed capital (being the sum of funds actually invested and funds committed for investment in Energy Efficiency Investments), with this amendment to be applied retrospectively from the time of the Company's IPO.

Unless the context otherwise requires, capitalised terms used in this announcement have the meanings provided in the Prospectus.

 The Company's LEI is: 213800AJ3TY3OJCQQC53

For further information please contact:

Aquila Capital (Investment Adviser) Via Buchanan

Peel Hunt (Broker) 020 7418 8900

Luke Simpson, Huw Jeremy (Investment Banking)

Buchanan (Financial PR) 020 7466 5000

Charles Ryland, Henry Wilson, George Beale