20 August 2026

Gore Street Energy Storage Fund plc

(the 'Company' or 'GSF')

Sale of Kilmannock and Mucklagh Pre-Construction Assets

Updated Strategy progressing with two asset sales completed at valuations no less than recent NAV and two augmentations underway

Gore Street Energy Storage Fund plc announces the sale of two assets, Kilmannock (120 MW/240 MWh) and Mucklagh (75 MW/150 MWh), both located in the Republic of Ireland. These disposals are in line with the refreshed Board's updated strategy, as announced on 17 March 2026, and mark the start of the sales process and augmentation processes set out in the Spring.

The acquirer is GS EU Fund SCSp ("GS EU"), a client of and managed by Gore Street Investment Management ("GSIM"). GS EU is not part of GSIM's group. GS EU now holds a 100% stake in both sites. Prior to the sale, the Company held a 100% stake in Kilmannock Phase I (30 MW) and II (90 MW), and a 51% stake in Mucklagh (38.25 MW, adjusted for ownership).

As GSIM acts as the manager to both the Company and GS EU, the transaction was closely monitored by the Board and conducted under strict information barriers. The assets' valuations were confirmed by an independent third-party acting for GS EU and a third-party sell-side adviser to the Company (Alexa Capital) oversaw a competitive, independent bidding process, ensuring best value has been achieved for Shareholders.

While the exact value of the transaction cannot be disclosed due to commercial sensitivity, the Company can confirm that it achieved no less than the values ascribed for these assets in the most recently published NAV.

Progress on the Updated Strategy

The Company's updated strategy outlined that proceeds of sales would be allocated toward Shareholder distributions and to accretive reinvestments, such as augmentation.

For FY26/27, the Company has set KPIs of £25 million of gross proceeds from disposals, c.100MWh of augmentation/buildout, and a commitment to 7 pence per share in distributions (1.75 pence per quarter).

There are two GB asset augmentations underway at the Stony (79.9 MW) and Ferrymuir (49.9 MW) sites to extend each site's duration from 1-hr to 2-hr. The projects remain on budget and on programme to be fully operational by December 2026. Two further asset sales processes are ongoing, with one, the German asset Cremzow, though delayed is at an advanced stage.

Angus Gordon Lennox, Chair of the Company, commented: "These are the first disposals completed under the new strategy we set out in March 2026 and the proceeds will support our distribution commitments to Shareholders.

The Company's Manager is now focused on executing further disposals and the Company's augmentation programme to meet the KPIs set out in the new strategy. We look forward to updating the market further in the coming months on our progress against these objectives."

- Ends -

For further information:     

Company Secretary

Benjamin Hanley                                                                                         Tel: +44 (0) 20 4583 6354 

Amy King                                                                                                       Tel: +44 (0) 20 4526 1283

Gore Street Investment Management  

Alex O'Cinneide / Ben Paulden  

Email: [email protected]                                                            Tel: +44 (0) 20 4551 1382  

Shore Capital (Joint Corporate Broker)         

Anita Ghanekar / Sophie Collins (Corporate Advisory)                      Tel: +44 (0) 20 7408 4090  

Fiona Conroy (Corporate Broking)  

J.P. Morgan Cazenove (Joint Corporate Broker)  

William Simmonds / Rupert Budge (Corporate Finance)                  Tel: +44 (0) 20 3493 8000  

Burson Buchanan (Media Enquiries)  

Henry Wilson / Henry Harrison-Topham / Nick Croysdill                  Tel: +44 (0) 20 7466 5000  

Email: [email protected]   

About Gore Street Energy Storage Fund 

Gore Street Energy Storage Fund plc is London's first listed energy storage fund, launched in 2018. The Company is the only UK-listed energy storage fund with an internationally diversified portfolio across five grid networks. 

https://www.gsenergystoragefund.com