Q3 2026 Factsheet and Net Asset Value

2 November 2026

LEI: 213800B81BFJKWM2JV13

Octopus Renewables Infrastructure Trust plc

(“ORIT” or the “Company”)

Q3 2026 Factsheet and Net Asset Value

Octopus Renewables Infrastructure Trust plc, the diversified renewables infrastructure company, announces that its unaudited Net Asset Value ("NAV") as at 30 September 2026, on a cum-income basis, was £449.3 million or 85.17 pence per Ordinary Share (30 June 2026: £454.7 million or 86.18 pence per Ordinary Share). This represents a NAV total return of approximately 0.6%[1] over the quarter.

* Totals may not sum exactly due to rounding

Market price assumptions

Market price assumptions increased NAV by £0.6 million during the quarter. Short-term forward power prices increased NAV by £2.6 million. This was partly offset by a £2.0 million reduction from lower medium- and long-term power price forecasts, reflecting revised assumptions for future capture prices, including the impact of increasing renewable generation and price cannibalisation in later periods. Other energy market assumptions, including green certificate and capacity market forecasts, were broadly unchanged during the quarter.

Macroeconomic assumptions

Macroeconomic assumptions increased NAV by £0.8 million during the quarter, primarily reflecting an increase in the value of ORIT’s currency hedges, following movements in spot rates and interest rate differentials in the forward rates. This was partially offset by sterling appreciation, which reduced the translated value of the European assets, and refreshed interest rate curves. Inflation assumptions and discount rates were unchanged from the previous quarter.

Other movements

Other movements drove a net increase in NAV of £1.5 million during the quarter. This primarily reflects the expected return generated by the portfolio as assets move one quarter closer to the receipt of future cash flows, together with operational performance and other routine valuation updates.

These positive movements were partially offset by asset-specific valuation adjustments. The largest movement was a £3.2 million reduction relating to the Company’s Irish solar portfolio following the regular update of independent forecasts of curtailment and constraints ("dispatch down”). Since 2023, approximately 43,000 MWh of curtailment on this portfolio has been uncompensated. Proceedings before the Court of Justice of the European Union will determine if these historic losses will become eligible for compensation. No value has been attributed to potential compensation in the Company’s current valuation, and any compensation received would represent upside.

Other offsetting movements include Company operating costs, financing costs and other holding company expenses incurred during the quarter.

Gearing

As at 30 September 2026, gearing (total debt drawn as a percentage of Gross Asset Value (“GAV”2) increased from 46.6% to 46.9%, primarily reflecting the reduction in NAV over the quarter, partially offset by a small decrease in total debt.

Post period

UK Government consultation

The Company notes the consultation published by the UK Government on 28 October 2026 on the proposed introduction of Wholesale Contracts for Difference for existing low-carbon generators in Great Britain. The proposals, which sit alongside a wider package of reforms being considered by the Government, could, if implemented, offer eligible generators an alternative source of long-term, predictable revenue and reduce exposure to wholesale price volatility. The Company will review the proposals carefully. However, as they remain subject to further detail, consultation, detailed design and legislative approval, it is too early to assess any potential impact on ORIT.

Factsheet

The Company's Q3 2026 factsheet has been published today and is available to download at:

https://www.octopusrenewablesinfrastructure.com/all-reports-publications

The person responsible for making this announcement is Hannah Shaw of Apex Listed Companies Services (UK) Limited, the Company Secretary.

Notes

For further information please contact:

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 £8.8 billion of assets under management (as at 30 June 2026) across 20 countries and with a total c.5.4 GW potential generation capacity once fully constructed. Octopus Energy Generation is the trading name of Octopus Renewables Limited. Further details can be found at www.octopusenergygeneration.com.