20 April 2023

Riverstone Credit Opportunities Income

Quarterly Update

Full Deployment Sustained Resulting In Robust Q1 Performance

Riverstone Credit Opportunities Income ("RCOI" or the "Company"), the LSE-listed energy infrastructure and energy-transition credit investor, is pleased to announce a strong portfolio performance for the quarter from 1 January to 31 March 2023, inclusive of updated quarterly unaudited fair market valuations.

Unaudited Net Asset Value

As of 31 March 2023, the unaudited net asset value per Ordinary Share, including net revenue for the quarter ended 31 March, was broadly stable at $1.06 ($1.08: 31 December 2022). This slight reduction was principally due to a movement in the valuation of the warrants related to a loan that was previously repaid.

Portfolio Summary and Key Performance Indicators

·    Portfolio of 100% floating rate, short duration, senior secured loans supporting RCOI's ambition to deliver annual returns to shareholders of 8-10% whilst supporting companies engaged in supporting the energy transition

·    34.3% NAV total return⁵ since IPO in May 2019 (33.7% at 31 December 2022)

·    25.6 cents in dividends paid since inception⁶

Portfolio Update

·    Against a backdrop of strong energy market performance, the global focus on de-carbonisation and the Company's unique focus on short duration lending, the Company remains extremely well positioned in the current environment. Further the re-balancing of the portfolio to accredited energy-transition focused investments through green or sustainability linked structures is now complete.  

·    Based on the current portfolio commitments, as well as the addition of the revolving credit facility in Q4 2022, the Company is nearly fully invested today.  

Reuben Jeffery III, Chairman of RCOI, commented:

"The RCOI portfolio performed robustly in Q1 2023, and I believe the Company is well-positioned to continue to provide shareholders with attractive returns from its portfolio as well as through new senior secured investments from the considerable pipeline of opportunities currently progressing through due diligence. Underlying rates are as high as they've been in our history, and now with the Company's capital fully deployed, we expect our shareholders to benefit from the increased earnings power of the portfolio in this attractive environment.

Since launch in May 2019, a period that has included volatile conditions for equity investors and the energy sector, we are pleased that the Company has delivered a total NAV return⁵ of 34.3% (33.7% at 31 December 2022) including 25.6 cents per share in dividend distributions⁶."

Christopher Abbate and Jamie Brodsky, Co-Founders of Riverstone Credit, the investment adviser, added:

"RCOI's portfolio comprises Green and Sustainability-Linked loans with stable cash income and quality assets. The increase in rates over the end of 2023 continues to result in higher coupons for our portfolio, which consists of over 95% floating rate investments. We are pleased to have maintained near full deployment and we are actively exploring an attractive and diverse pipeline of opportunities for refinancing events."

Cumulative Portfolio Summary

Unrealised Portfolio[1]

Realised Portfolio

The Gross Realised Capital column includes interest, fee income, and principal received. The Gross Unrealised Value column includes the amortization of OID, accrued interest, fees and any unrealised change in the value of the investment.

For Riverstone Credit Opportunities Income Plc:

Adam Weiss

+1 212 271 2953

Media Contacts:

Buchanan

About Riverstone Credit Opportunities Income Plc:

RCOI lends to companies that build and operate the infrastructure used to generate, transport, store and distribute both renewable and conventional sources of energy, and companies that provide services to that infrastructure. RCOI also lends to companies seeking to facilitate the energy transition by decarbonizing the energy, industrial and agricultural sectors, building sustainable infrastructure and reducing or sequestering carbon emissions. The Company seeks to ensure that its investments are having a positive impact on climate change by structuring each deal as either a green loan or a sustainability-linked loan, documented using industry best practices.

For further details, see https://www.riverstonecoi.com/.

Neither the contents of RCOI's website nor the contents of any website accessible from hyperlinks on the websites (or any other website) is incorporated into, or forms part of, this announcement.