Completion of Capital Recycling Programme

LEI: 213800ZPHCBDDSQH5447

10 March 2026

NextEnergy Solar Fund Limited

("NESF" or "the Company")

Completion of Capital Recycling Programme

NextEnergy Solar Fund, a leading specialist investor in solar energy and energy storage, is pleased to announce the successful sale of a 100MW operational UK solar portfolio to a third-party buyer for £46.2m (the "Transaction"). This transaction marks the completion of the Company's Capital Recycling Programme (the "Programme"), which has generated a total of c.£119m in capital through the disposal of 245MW of UK solar assets.

Final Phase (IV) of the Programme:

·     The 100MW portfolio is made up of two operating subsidy-free solar assets:

o  The Grange: A 50MW utility-scale solar assets located in Nottingham.

o  South Lowfield: A 50MW utility-scale solar asset located in Yorkshire.

·     The sale of the portfolio raised £46.2m.

·     The Transaction represents a 1.1x Multiple on Invested Capital.

Use of proceeds:

·     Proceeds from the Transaction will be used towards reducing the Company's drawn short-term debt via its Revolving Credit Facilities.

The purchaser:

·     Atrato Onsite Energy

Capital Recycling Programme summary:

·     Capital Recycling Programme is now complete.

·     Sold Five assets totalling 245MW of capacity.

·     Raised c.£119m total capital.

·     Added a total estimated Net Asset Value uplift of 2.44p per ordinary share.

Presentation Reminder - Board Strategic Review & Strategy Seminar Presentation:

·     The Company will hold a strategy seminar presentation for investors and sell-side analysts at the London Stock Exchange, with the session also livestreamed online:

o  Start time: 10:30 GMT

o  Date:  Wednesday 11 March 2026

o  Duration: 2 hours

o  Registration & Webcast link: NextEnergy Solar Fund - Strategy Seminar Presentation | SparkLive | LSEG

·     A recording of the presentation will be made available shortly after the event on both the Company's website and the London Stock Exchange website.

Tony Quinlan, Chair of NextEnergy Solar Fund Limited, said:

"The completion of Phase IV marks the culmination of the Capital Recycling Programme and represents an important milestone for NESF. This final transaction strengthens the Company's balance sheet and demonstrates our continued commitment to disciplined capital stewardship on behalf of shareholders. We remain focused on positioning NESF for long‑term value creation and I look forward to updating shareholders on the outcomes of the strategic review on Wednesday."

Stephen Rosser, Investment Director, NextEnergy Capital said:

"Over the four phases of the Programme, we have divested five UK solar assets totalling 245MW, generating approximately £119 million in proceeds and contributing a 2.44p NAV uplift per ordinary share. Throughout the process, we prioritised prudent capital deployment, using proceeds to reduce short‑term debt and reinvest in the long‑term resilience of the portfolio. Despite a challenging M&A environment, the team executed the Programme effectively, and we are now seeing renewed momentum in the solar M&A market as we move into 2026."

-       End -

Notes to Editors ¹:

About NextEnergy Solar Fund

NextEnergy Solar Fund is a specialist solar energy and energy storage investment company that is listed on the Main Market of the London Stock Exchange.

NextEnergy Solar Fund's investment objective is to provide Ordinary Shareholders with attractive risk-adjusted returns, principally in the form of regular dividends, by investing in a diversified portfolio of utility-scale solar energy and energy storage infrastructure assets.  The majority of NESF's long-term cash flows are inflation-linked via UK government subsidies.

As at 31 December 2025, the Company had an unaudited gross asset value of £997m.  For further information please visit www.nextenergysolarfund.com

Article 9 Fund

NextEnergy Solar Fund is classified under Article 9 of the EU Sustainable Finance Disclosure Regulation and EU Taxonomy Regulation.  NextEnergy Solar Fund's sustainability-related disclosures in the financial services sector are in accordance with Regulation (EU) 2019/2088 and can be accessed on the ESG section of both the NextEnergy Solar Fund and NextEnergy Capital websites.

About NextEnergy Group

NextEnergy Solar Fund is managed by NextEnergy Capital, part of the NextEnergy Group.  NextEnergy Group was founded in 2007 to become a leading market participant in the international solar sector which now employs over 400 professionals.  Since its inception, NextEnergy Group has been active in the development, construction, and ownership of solar assets across multiple jurisdictions.  NextEnergy Group operates via its three business units: NextEnergy Capital (Investment Management), WiseEnergy (Operating Asset Management), and Starlight (Asset Development).

·      NextEnergy Capital: has over 18 years of specialist solar expertise having invested in over 530 individual solar plants across the world.  NextEnergy Capital currently manages four institutional funds with a total capacity in excess of 4GW and has funds under management of c.$4.8bn.  More information is available at www.nextenergycapital.com   

·      WiseEnergy®: is a leading specialist operating asset manager in the solar sector.  Since its founding, WiseEnergy has provided solar asset management, monitoring and technical due diligence services to over 1,600 utility-scale solar power plants with an installed capacity in excess of 3.5GW.  More information is available at www.wise-energy.com

·      Starlight: has developed over 100 utility-scale projects internationally and continues to progress a large pipeline of c.12GW of both green and brownfield project developments across global geographies.  More information is available at www.starlight-energy.com

Notes:

^1: All financial data is unaudited at 31 December 2025, being the latest date in respect of which NextEnergy Solar Fund has published financial information.