23 September 2025

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PANTHEON INFRASTRUCTURE PLC

Investment in US Renewable Energy Company

Pantheon Infrastructure PLC ("PINT" or the "Company"), the listed global infrastructure fund, has committed to invest approximately £30m in energy and data centre developer Intersect Power ("Intersect"), through a vehicle managed by Climate Adaptive Infrastructure, a US-based infrastructure investor that has raised and managed over $1.3bn in assets.

Intersect, headquartered in California, develops and operates utility-scale and industrial power infrastructure to meet the growing demands and complexity of electrification, digitalisation, and decarbonisation trends. Intersect's model is built on the co-location of industrial demand with rapid deployment of dedicated gas and renewable power generation for data centre infrastructure and utilities.

Intersect is well-positioned to navigate the evolving trade and regulatory environment in the US, leveraging its scale, domestic-focused procurement and secured financing. As the largest customer of the top manufacturers of solar panels and batteries in the US, the company is well positioned to withstand supply chain issues arising as a result of recent reciprocal tariffs. These strengths align with the emphasis on US supply chains and local investment contained within the recent One Big Beautiful Bill Act.

The investment is expected to be funded through a combination of existing cash reserves and utilisation of the Company's revolving credit facility.

Richard Sem, Partner at Pantheon, PINT's investment manager, commented:

"Our investment into Intersect Power reflects both the strength of the opportunity and our continued disciplined approach around capital allocation. With greater visibility on near term liquidity and attractive potential returns, we see this as a compelling addition to the portfolio.

"Intersect has established itself as one of the leading players in the US renewable energy mix, with an attractive pipeline of projects that benefit from safe harboured tax credits pre-dating the Inflation Reduction Act.

"This represents the kind of resilient opportunity that can provide both downside protection and long-term growth. We are pleased to be backing a company that is well placed to benefit from the shift towards cleaner energy and the wider changes shaping the global economy."

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Notes to editors

Pantheon Infrastructure PLC (PINT)

Pantheon Infrastructure PLC is a closed-ended investment company and an approved UK Investment Trust, listed on the London Stock Exchange's Main Market and a constituent of the FTSE 250. Its Ordinary Shares trade under the ticker 'PINT'. The independent Board of Directors of PINT have appointed Pantheon, one of the leading private markets investment managers globally, as investment manager. PINT aims to provide exposure to a global, diversified portfolio of high-quality infrastructure assets through building a portfolio of direct co-investments in infrastructure assets with strong defensive characteristics, typically benefitting from contracted cash flows, inflation protection and conservative leverage profiles. Further details can be found at www.pantheoninfrastructure.com

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Pantheon

Pantheon has been at the forefront of private markets investing for more than 40 years, earning a reputation for providing innovative solutions covering the full lifecycle of investments, from primary fund commitments to co-investments and secondary purchases, across private equity, real assets and private credit.

The firm has partnered with more than 650 clients, including institutional investors of all sizes as well as a growing number of private wealth advisers and investors, with approximately $72bn in discretionary assets under management (as of March 31, 2025).

Leveraging its specialized experience and global team of professionals across Europe, the Americas and Asia, Pantheon invests with purpose and leads with expertise to build secure financial futures.

Pantheon was one of the first private equity investors to sign up to the Principles for Responsible Investments ("PRI") in 2007 and has used these principles as a framework to develop its sustainability policy across all its investment activities. Since becoming a signatory, Pantheon has remained highly engaged with the PRI and has been heavily focused on sustainability integration, both through its involvement with associates and industry bodies, and through its integration of ESG analysis into its investment process. Further details can be found at www.pantheon.com.