22 November 2024

Foresight Solar Fund Limited

("Foresight Solar", "FSFL" or the "Company")

Directorate Change

Appointment of Non-Executive Directors

Foresight Solar, the fund investing in solar and battery storage assets to build income and growth, announces the next phase in its Board of Directors succession planning with the appointment of Tony Roper and Paul Masterton as Independent Non-Executive Directors and the stepping down of Monique O'Keefe. The measures have effect from 21 November 2024.

Mr Roper has 30 years of experience making and managing infrastructure investments, initially with John Laing, and then with HSBC, where he was the fund manager for HSBC Infrastructure Company Limited (now HICL Infrastructure plc).

In 2011, Mr Roper was part of the team that led the management buy-out of HSBC Specialist Investments to create InfraRed Capital Partners. He was then a managing partner and a senior member of the infrastructure team until June 2018, during which time he oversaw the successful launch of The Renewables Infrastructure Group (TRIG) on the London Stock Exchange.

Mr Roper is the chair of abrdn European Logistics Income plc and of SDCL Energy Efficiency Income Trust plc.

Mr Masterton has 16 years of experience as a non-executive director and chair, covering finance, infrastructure, property development and insurance, including a decade with 3i Infrastructure. His executive career spanned CEO roles in the printing, communications and distribution sectors in Europe, Americas and Asia.

Mr Masterton is chair of the Insurance Corporation of the Channel Islands and sits as a member of the Jersey Competition and Regulatory Authority.

Ms O'Keefe was appointed to the Foresight Solar Board in June of 2019, bringing more than 20 years of experience in finance and law. She decided to step down in the course of the Company's succession plan and will continue her successful executive career.

Lynn Cleary will become the chair of the Nomination Committee and Mr Masterton will chair the Remuneration Committee.

Alexander Ohlsson, Chair of Foresight Solar, said: "The appointments of Tony and Paul are part of the Board's succession plan and allow for a smooth handover as Directors rotate off. The first step of that process was Monique stepping down. On behalf of the Board, I'd like to thank her for commitment and contribution as a Director and wish her all the best in her endeavours.

"Tony and Paul bring a wealth of knowledge and expertise that will be invaluable to oversee the execution of Foresight Solar's income and growth strategy and to support its development. I'm delighted to have them on the Board and we look forward to working with them as Non-Executive Directors."

As the next step of Foresight Solar's succession plan, Chris Ambler has communicated to the Board his intention to step down as Independent Non-Executive Director and Senior Independent Director ahead of the Annual General Meeting in June 2025, allowing for an orderly transition.

In accordance with the Listing Rules, no further information is required to be disclosed on behalf of Mr Masterton pursuant to UKLR 6.4.8R.

In accordance with UKLR 6.4.8R Mr Roper holds 34,725 shares in the Company via a family investment company. While he controls the decision-making regarding these shares, he derives no economic benefit from them. The beneficiaries of the economic benefit are his three children.

For more information, follow Foresight Solar on LinkedIn or contact:

LEI: 213800VO4O83JVSSOX33