25 January 2024

Riverstone Credit Opportunities Income

Quarterly Update and Notice of Results

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 31 December 2023, which saw deployment in energy transition investments and attractive realisations.

Unaudited Net Asset Value

As at 31 December 2023, the unaudited net asset value per Ordinary Share, including net revenue for the quarter, decreased 1.6% to $1.06 ($1.07: 30 September 2023). 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, enabling RCOI to deliver annual returns to shareholders of 8-10% from investing in companies engaged in the energy transition

·    40.1% NAV total return⁵ achieved since IPO in May 2019 (33.7% at 31 December 2022)

·    31.6 cents in dividends paid since inception⁶

Portfolio Update

·    Successfully realised the Company's sustainability-linked first lien term loan with Clean Energy Fuels Corp. at a 14.9 percent gross IRR and a 10.8 percent net IRR and 1.14x gross MOIC and a 1.10x net MOIC.

·    Successfully amended and extended the Company's investment in Blackbuck Resources. The maturity was extended to 31 December 2024, and economic terms were adjusted for an estimated all-in yield to maturity of 17 percent to RCOI. This resulted in c. $0.6 million in profits being distributed.

Notice of Full Year Results

The Company will announce its full year results for the year ended 31 December 2023 on Wednesday, 21 February 2024.

A virtual call for analysts will be held at 2pm UK time on the afternoon of the announcement. A Q&A facility will also be made available. The presentation will be hosted by Christopher Abbate and Jamie Brodsky, Co-Founders of Breakwall Capital, the Company's sub-manager.

If you would like to attend, please contact Buchanan on +44 20 7466 5000 / [email protected].

Reuben Jeffery III, Chairman of RCOI, commented:

"The RCOI portfolio once again performed strongly in Q4 2023. The Company successfully realised one investment and closed an amendment for another, resulting in sizeable returns to be distributed to investors. 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 NAV total return⁵ of 40.1% (33.7% at 31 December 2022) including 31.6 cents per share in dividend distributions⁶.

"The Board is pleased with the seamless transition to Breakwall Capital as sub-manager and trust that the team will continue to perform the same excellent portfolio management duties that they have executed so successfully since listing. In light of the end of the investment period for Riverstone Credit Partners II in December 2023 and the upcoming realisation election for the Company on or around the date of its annual general meeting, the Board will communicate next steps in due course."

Christopher Abbate and Jamie Brodsky, Co-Founders of Breakwall Capital, the Company's sub-manager, 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 are proud of the fact that the portfolio consists entirely of Green and Sustainability-Linked loans that contribute positively towards the energy transition across a wide range of applications. The Company is focused on providing strong returns and dividends to investors in order 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.

As previously announced, on January 2, Riverstone Holdings LLC, and their affiliate Riverstone Investment Group (collectively, "Riverstone") entered into a sub management agreement for RCOI with Breakwall Capital LP.  Breakwall is an independent asset manager regulated by the SEC as a Registered Investment Advisor. It is owned and operated by the former members of the Riverstone Credit Partners team.

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.