31 January 2025

LEI: 213800B81BFJKWM2JV13

Octopus Renewables Infrastructure Trust plc

("ORIT" or the "Company")

Q4 2024 Dividend Declaration and FY25 Increased Dividend Guidance

Q4 2024 Dividend Declaration

The Board of Octopus Renewables Infrastructure Trust plc is pleased to declare an interim dividend in respect of the period from 1 October 2024 to 31 December 2024 of 1.51 pence per ordinary share, payable on 28 February 2025 to shareholders on the register at 14 February 2025 (the "Q4 2024 Dividend"). The ex-dividend date will be 13 February 2025.

The Q4 2024 dividend is the final of four dividends totalling 6.02 pence per Ordinary Share (FY 2023: 5.79 pence per Ordinary Share) for the financial year to 31 December 2024 ("FY 2024"), meeting the Company's FY 2024 dividend target in full. The dividend is fully covered by cash flows arising from the Company's portfolio of assets.

A portion of the Company's dividend is designated as an interest distribution for UK tax purposes. The interest streaming percentage for the Q4 2024 Dividend is 57.2%.

Increased Dividend Guidance for FY 2025

In line with the Company's progressive dividend policy, the Board of Octopus Renewables Infrastructure Trust plc is pleased to announce an increase in the target dividend to 6.17p* per ordinary share for the financial year from 1 January 2025 to 31 December 2025 ("FY 2025").

This increase of 2.5% over FY 2024's dividend target is in line with the increase to the Consumer Price Index (CPI) for the 12 months to 31 December 2024 and marks the fourth consecutive year the Company has increased its dividend target in line with inflation. The FY 2025 dividend target is expected to be fully covered by cash flow generated from the Company's operating portfolios.

Phil Austin, Chair of Octopus Renewables Infrastructure Trust plc, commented: "The Board is pleased to declare its final interim dividend for the financial year which, combined with the three prior quarters, meets our FY 2024 target of 6.02 pence per Ordinary Share and delivers shareholders with a yield of 8.9% at yesterday's closing share price.

"We are also pleased to announce, for the fourth consecutive year in a row, an increase in dividend guidance in line with inflation. This is expected to be fully covered by operating cash flows and demonstrates our commitment to a progressive dividend policy." 

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*The dividend target stated in this announcement is a target only and not a profit forecast. There can be no assurance that this target will be met, or that the Company will make any distributions at all and it should not be taken as an indication of the Company's expected future results. The Company's actual returns will depend upon a number of factors, including but not limited to the Company's net income and level of ongoing charges. Accordingly, potential investors should not place any reliance on this target and should decide for themselves whether or not the target dividend is reasonable or achievable. Investors should note that references in this announcement to "dividends" and "distributions" are intended to cover both dividend income and income which is designated as an interest distribution for UK tax purposes and therefore subject to the interest streaming regime applicable to investment trusts. 

Notes to editors

About Octopus Renewables Infrastructure Trust

Octopus Renewables Infrastructure Trust ("ORIT") is a London-listed, 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. As an impact fund, ORIT is helping accelerate the transition to net zero by investing in green energy, whilst also contributing to a broader set of UN Sustainable Development Goals through its impact initiatives. ORIT's investment manager is Octopus Energy Generation.  

Further details can be found at www.octopusrenewablesinfrastructure.com 

About Octopus Energy Generation

Octopus Energy Generation is driving the renewable energy agenda by building green power for the future. Its 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 14-year track record with approximately £6.7 billion of assets under management (AUM) (as of 30 September 2024) across 19 countries and total 4.5GW. These renewable projects generate enough green energy to power 2.6 million homes every year, the equivalent of taking over 1.4 million 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