27 February 2023

LEI: 213800B81BFJKWM2JV13

Octopus Renewables Infrastructure Trust plc

("ORIT", the "Company" and together with its subsidiaries, the "Group")

RCF Extended and Increased

Octopus Renewables Infrastructure Trust plc announces that the Group has refinanced and increased its multi-currency revolving credit facility ("RCF").

The committed £270.8m RCF (which was previously £150.0m committed, pre-accordion) has a three year term to 24 February 2026 and can be drawn in GBP, EUR, AUD and USD. The RCF has an interest rate of 2.0% above SONIA (or equivalent reference rate for other currencies) and an improved margin compared with the previous facility's margin of 2.3%. It also has an uncommitted accordion feature allowing the facility to be increased in size by up to a further £150m. The facility has been provided by a group of four lenders: National Australia Bank, NatWest, Santander and Allied Irish Banks.

As of 24 February 2023, the Company had drawn £88.2m of the RCF.

ORIT expects to use the RCF to fund existing construction commitments, to repay short-term facilities within the Group and for future acquisitions of new renewable energy assets.

Phil Austin, Chairman of Octopus Renewables Infrastructure Trust plc, commented: "We are pleased to announce the extension and expansion of our revolving credit facility. The RCF will provide ORIT with additional headroom to support the Company's balance sheet, enabling us to further grow ORIT's diversified portfolio through additional renewable energy projects, all helping to accelerate the green energy transition."

For further information please contact:

Notes to editors

About Octopus Renewables Infrastructure Trust

Octopus Renewables Infrastructure Trust ("ORIT") is a closed-ended investment company incorporated in England and Wales focused on providing investors with an attractive and sustainable level of income returns, with an element of capital growth, by investing in a diversified portfolio of renewable energy assets in Europe and Australia. ORIT's investment manager is Octopus Energy Generation.  

Further details can be found at www.octopusrenewablesinfrastructure.com 

About Octopus Energy Generation

Octopus Energy Generation ("OEGEN") is driving the renewable energy agenda by building green power for the future. Its London-based, leading specialist renewable energy fund management team invests in renewable energy assets and broader projects helping the energy transition, across operational, construction and development stages. The team was set up in 2010 based on the belief that investors can play a vital role in accelerating the shift to a future powered by renewable energy. It has a 12-year track record with approximately £5.6 billion of assets under management (AUM) (as of December 2022) across 12 countries and total 3.2GW. These renewable projects generate enough green energy to power 2 million homes every year, the equivalent of taking over 800,000 petrol cars off the road. Octopus Energy Generation is the trading name of Octopus Renewables Limited

Further details can be found at www.octopusenergygeneration.com