Aquila European Renewables Income Fund PLC

Publication of Supplementary Prospectus

27 August 2021

Aquila European Renewables Income Fund PLC (the "Company"), announces that it has today published a supplementary prospectus approved by the FCA (the "Supplementary Prospectus"). The Supplementary Prospectus is supplemental to, and should be read in conjunction with, the prospectus published by the Company on 17 September 2020 (the "Prospectus").

The Supplementary Prospectus will be submitted to the National Storage Mechanism and will shortly be available for inspection at  https://data.fca.org.uk/#/nsm/nationalstoragemechanism and on the Company's website at www.aquila-european-renewables-income-fund.com.

Sponsor, Broker and Joint Bookrunner in the UK
Numis Securities (UK Investors) | +44 (02)0 7260 1000
Tod Davis
David Benda
Vicki Paine

Joint Bookrunner
Kempen & Co (EU Investors in the Target Jurisdictions) | +31 (0) 20 348 8000

Thomas ten Hoedt

Maarten de Zeeuw

Administrator and Company Secretary

PraxisIFM Fund Services (UK) Limited | +44 (0) 20 7332 2986

Brian Smith

Important Information

The distribution of this Announcement and/or the issue of New Ordinary Shares ("New Shares") in certain jurisdictions under the Placing Programme may be restricted by law and/or regulation.  No action has been taken by the Company, Numis Securities Limited ("Numis") or Van Lanschot Kempen N.V. ("Kempen & Co") or any of their respective affiliates that would permit an offer of New Shares or possession or distribution of this Announcement or any other publicity material relating to such shares in any jurisdiction where action for that purpose is required.  Persons receiving this Announcement are required to inform themselves about and to observe any such restrictions.

Numis, which is authorised and regulated in the United Kingdom by the FCA, is acting exclusively for the Company and no-one else in connection with the Issue or the Placing Programme or in relation to the matters referred to in the Prospectus and will not regard any other person (whether or not a recipient of this document) as its client in relation to the Issue or the Placing Programme and will not be responsible to anyone other than the Company for providing the protections afforded to its clients or for providing advice in relation to the Issue or the Placing Programme, the contents of this document or any transaction or arrangement referred to in the Prospectus.

Kempen & Co, which is authorised and regulated in the Netherlands by the Dutch Authority for Financial Markets and the Dutch Central Bank, is acting exclusively for the Company and no-one else in connection with the Placing and the Placing Programme or in relation to the matters referred to in the Prospectus, will not regard any other person (whether or not a recipient of this document) as its client in relation to the Placing or the Placing Programme and will not be responsible to anyone other than the Company for providing the protections afforded to its clients or for providing advice in relation to the Placing or the Placing Programme, the contents of this document or any transaction or arrangement referred to in the Prospectus. Kempen & Co is not acting for or providing services to the Company or any other person in respect of the Offer for Subscription and will not be responsible to any person in respect of any claim or any other matter arising from the Offer for Subscription.