25 October 2023

Riverstone Credit Opportunities Income

Quarterly Update

Full Deployment Sustained Resulting in Robust Q3 Performance

Targeted annual dividend returns of 8-10% on subscribed capital

Riverstone Credit Opportunities Income ("RCOI" or the "Company"), the LSE-listed energy infrastructure and energy-transition credit investor, is pleased to announce a robust portfolio performance for the quarter ended 30 September 2023, in which full deployment in energy transition investments now means that shareholders will benefit from the portfolio's high earnings power and targeted annual dividend returns of 8-10% on subscribed capital.

Unaudited Net Asset Value

As at 30 September 2023, the unaudited net asset value per Ordinary Share, including net revenue for the quarter ended 30 September, stayed stable at $1.07 ($1.07: 30 June 2023). The stability was due to continued strong performance by the unrealised portfolio.

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 investing in companies engaged in the energy transition

·    39.8% NAV total return⁵ since IPO in May 2019 (33.7% at 31 December 2022)

·    29.6 cents in dividends paid since inception⁶

Portfolio Update

·    Against a backdrop of strong energy market performance, the global focus on decarbonisation and the Company's unique focus on short duration lending, the Company remains extremely well positioned in the current environment with a portfolio of accredited energy-transition focused investments entirely through green or sustainability-linked structured loans.

·    Based on current portfolio commitments, as well as the addition of the revolving credit facility in Q4 2022, the Company is nearly fully invested as of 30 September 2023.  

Reuben Jeffery III, Chairman of RCOI, commented:

"The RCOI portfolio performed strongly in Q3 2023. The Company continues to be a beneficiary of the current interest rate environment with a strategy focused on floating rate, short duration loans that are designed to capture the elevated value for our shareholders in the rapidly changing macro environment.

Since launch in May 2019, the Company has now delivered a total NAV return⁵ of 39.8% (33.7% at 31 December 2022) including 29.6 cents per share in dividend distributions⁶."

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

"We continue to be encouraged by the Company's strong performance and its advantageous positioning in the current environment. In addition to the attractive financial returns delivered, we would also highlight that the portfolio consists entirely of Green and Sustainability-Linked loans that contribute positively towards the energy transition across a wide variety of applications. The Company's near complete deployment in such investments means that shareholders will benefit from full exposure to the high earnings power of the portfolio's energy transition investments, which should further supplement available income to deliver the targeted annual dividend returns of 8-10% on subscribed capital."

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.