LEI: 213800NNT42FFIZB1T09

30 November 2023

NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, IN OR TO THE UNITED STATES, AUSTRALIA, CANADA, NEW ZEALAND, THE REPUBLIC OF SOUTH AFRICA, JAPAN OR ANY MEMBER STATE OF THE EEA OR ANY OTHER JURISDICTION IN WHICH THE PUBLICATION, DISTRIBUTION OR RELEASE OF THIS ANNOUNCEMENT WOULD BE UNLAWFUL

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION. FOR IMMEDIATE RELEASE

Half-year results for the six months ended 30 September 2023

Diversified and resilient business model continues to deliver profitable growth

Foresight Group Holdings Limited ("Foresight", the "Group"), a sustainability-led infrastructure and private equity investment manager, is pleased to announce its results for the six months ended 30 September 2023 ("H1 FY24", the "period").

Financial and Operational Highlights¹

Key Financial Metrics

Post period end and outlook

Post period end, we have seen further success within our Private Equity division, delivering performance fees of £1.9 million and an expansion in its regional strategy with the launch of two new institutional funds.  This included one fund that achieved a £50 million first close to invest in opportunities across Wales, and a second which increased the capital available to our existing Northern Irish strategies.

Based on pre marketing discussions, we believe that the currently challenging environment for institutional fundraising in infrastructure should start to improve in the first half of 2024. During this timeframe, our focus will be on fundraising for our existing FEIP and ARIF strategies, as well as the launch of a first hydrogen strategy for the Group.

Our diversified business model leverages both organic and inorganic growth through targeted institutional fundraising, continuous retail fundraising and acquisitions. With this combination of levers, we remain confident in continuing our strong track record of Core EBITDA pre-SBP growth, alongside our stated target AUM growth rate of 20-25% per annum on a rolling 3-year average basis.

Bernard Fairman, Executive Chairman of Foresight Group Holdings Limited, commented:

"With Core EBITDA pre-SBP up by 28% and AUM at £12.2 billion, Foresight's diversified business model has successfully delivered a strong and resilient performance, during one of the steepest increases in interest rates in living memory. We are well positioned to benefit from interest rate stabilisation and normalisation.

The energy transition is the largest investment opportunity of our generation. Foresight is ideally placed to realise this opportunity through our multiple international strategies and extensive track record of raising capital to invest in sustainable infrastructure.

On the back of this resilient performance and our strong pipeline of opportunities, we remain confident in Foresight's ability to deliver on our strategic targets and to continue to deliver profitable growth and shareholder value."

Notes:

1.     Please note that all figures contained in this announcement are unaudited.

2.     Divisional AUM movement:

3.     Group AUM and FUM movement summary on a constant currency basis:

4.     Infrastructure divisional deployment:

*New future deployment rights associated with transactions completed during the period.

5.     Private equity divisional deployment:

Half-year Report

A copy of the H1 FY24 Half-year Report has been submitted to the National Storage Mechanism and will shortly be available at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

The Half-year Report will also be available on the Company's website at

https://www.foresightgroup.eu/shareholders where further information on Foresight can be found.

Interim Results Announcement

A pre-recorded presentation will be available to view on the Company's website

(https://www.foresightgroup.eu/shareholders) on 30 November 2023.

This presentation will be played at the start of a webcast from 9.00 a.m. (UK time) on Thursday 30 November 2023 and be followed by live Q&A for analysts hosted by Gary Fraser (CFO). Those wishing to join the webcast should register via the following link: Register here

Retail Investor Presentation via Investor Meet Company

Foresight will also provide a live presentation via Investor Meet Company on Monday 4 December 2023 at 11.30 a.m. BST. The presentation is open to all existing and potential shareholders and will be hosted by Gary Fraser (CFO). Questions can be submitted pre-event via your Investor Meet Company dashboard up until 9.00 a.m. the day before the meeting or at any time during the live presentation.

Investors can sign up to Investor Meet Company for free and register to meet Foresight via: https://www.investormeetcompany.com/foresight-group-holdings-limited/register-investor

Investors who already follow Foresight on the Investor Meet Company platform will automatically be invited.

About Foresight Group Holdings Limited

Foresight Group was founded in 1984 and is a leading listed infrastructure and private equity investment manager. With a long-established focus on ESG and sustainability-led strategies, it aims to provide attractive returns to its institutional and private investors from hard-to-access private markets. Foresight manages over 400 infrastructure assets with a focus on solar and onshore wind assets, bioenergy and waste, as well as renewable energy enabling projects, energy efficiency management solutions, social and core infrastructure projects and sustainable forestry assets. Its private equity team manages an extensive footprint of regionally focused investment funds across the UK and Ireland. This team reviews over 3,000 business plans each year and currently supports more than 250 investments in SMEs. Foresight Capital Management manages four strategies across seven investment vehicles.

Foresight operates in eight countries across Europe, Australia and United States with AUM of £12.2 billion*. Foresight Group Holdings Limited listed on the Main Market of the London Stock Exchange in February 2021 and is a constituent of the FTSE250 index. https://www.foresightgroup.eu/shareholders

*Based on unaudited AUM as at 30 September 2023.

Disclaimer - Forward-looking statements

This announcement, prepared by Foresight Group Holdings Limited (the "Company"), may contain forward-looking statements about the Company. Such forward-looking statements can be identified by the use of forward-looking terminology, including the terms "believes", "projects", "estimates", "plans", "anticipates", "targets", "aims", "continues", "expects", "intends", "hopes", "may", "will", "would", "could" or "should" or, in each case, their negative or other various or comparable terminology. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors which are beyond the Company's control and are based on the Company's beliefs and expectations about future events as of the date the statements are made. If the assumptions on which the Company bases its forward-looking statements change, actual results may differ from those expressed in such statements. There are a number of factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements, including those set out under "Principal Risks" in the Company's annual report for the financial year ended 31 March 2023. The annual report can be found on the Company's website (https://www.foresightgroup.eu). Forward-looking statements speak only as of the date they are made. Except as required by applicable law and regulation, the Company undertakes no obligation to update these forward-looking statements. Nothing in this announcement should be construed as a profit forecast.