22 February 2023

Aquila European Renewables plc

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

Aquila European Renewables plc ("AER" or "the Company") announces that the EUR:GBP exchange rate for the fourth interim dividend for the year ending 31 December 2022 of 1.3125 cents per Ordinary share, previously announced on 3 February 2023 has been set at 1.1269.  The sterling equivalent dividend payable is 1.1647p per Ordinary share. The dividend will be paid on 17 March 2023 to Shareholders who appeared on the register on 17 February 2023.  The Company's Ordinary shares were marked ex-dividend on 16 February 2023.

Ends

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

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