22 June 2026

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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 $55m (£41m at current exchange rates) in Terra-Gen, a leading US renewable energy platform, through a co-investment vehicle managed by Igneo Infrastructure Partners ("Igneo"), a leading global infrastructure investment manager with over $24bn of assets under management.

Terra-Gen develops, constructs and operates utility-scale solar, wind and battery storage infrastructure to support the electrification and decarbonisation of the US power grid. The platform currently operates approximately 4 GW of capacity, the vast majority of which is contracted with investment-grade offtakers under long-term power purchase agreements, providing stable, inflation-linked cash flows. Terra-Gen also has a pipeline of approximately 16 GW of projects, positioning the business for continued growth.

The platform operates primarily in California (CAISO), with development projects across Texas (ERCOT) and New York (NYISO). Terra-Gen has been an active developer in these power markets for over 15 years, with first-mover advantages across key development sites, well-established relationships with a diverse base of investment-grade energy offtakers, and a proactive domestic equipment procurement strategy that substantially insulates the portfolio from tariff risk.

The investment is expected to be funded from the Company's existing cash reserves.

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

"Terra-Gen is a compelling addition to PINT's portfolio. The asset combines a large, predominantly contracted operating base with an extensive development pipeline, offering strong downside protection through long-term, inflation-linked cash flows and significant capital growth potential.

"US renewables continue to benefit from strong structural tailwinds, with demand for power from data centres and AI-related infrastructure growing rapidly. State-level clean energy targets continue to drive investment in the sector, and Terra-Gen's scale, track record and market positioning make it well placed to capture this opportunity.

"We are pleased to be partnering with Igneo on this transaction and look forward to working with them and the Terra-Gen management team to support the business through its next phase of growth."

For further information, contact:

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 benefiting 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 760 clients, including institutional investors of all sizes as well as a growing number of private wealth advisers and investors, with approximately $84bn in discretionary assets under management (as of 31 December 2025).

Leveraging its specialised 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

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