24 August 2022

Aquila European Renewables Income Fund plc

("AERIF" or the "Company")

LEI: 213800UKH1TZIC9ZRP41

Exchange rate for the second interim dividend for the year ending 31 December 2022

The Company announces that the EUR:GBP exchange rate for the second interim dividend for the year ending 31 December 2022 of 1.3125 cents per Ordinary share, previously announced on 4 August 2022 has been set at 1.1893.  The sterling equivalent dividend payable is 1.103590p per Ordinary share. The dividend will be paid on 2 September 2022 to Shareholders who appeared on the register on 12 August 2022.  The Company's Ordinary shares were marked ex-dividend on 11 August 2022.

For further details contact:

Media contacts

Edelman Smithfield

Ged Brumby 07540-412301

Kanayo Agwunobi 07581-010560

Sponsor, Broker and Placing Agent

Numis Securities 020 7260 1000

Tod Davis

David Benda

Vicki Paine

NOTES

Aquila European Renewables Income Fund plc ("AERIF" or the "Company") is a London-listed renewable energy infrastructure investment company with the aim to provide investors with an attractive long-term, income-based return in EUR through a diversified portfolio of hydropower, onshore wind and solar PV 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.

www.aquila-european-renewables-income-fund.com