LEI: 213800HAZOW1AWRSZR47

27 October 2022

RIVERSTONE ENERGY LIMITED
 (the "Company" or "REL")

Director Appointment

The Company is pleased to announce that Richard Horlick has been appointed to the board of directors of the Company (the "Board") as a non-executive director with effect from 26 October 2022. Mr Horlick is joining the Board as Chair elect and will also serve on the Company's Audit Committee, Management Engagement Committee and Nomination Committee.

The Board intends that Mr Horlick will succeed Richard Hayden as Chair of the Board in February 2023. Mr Hayden will not be submitting himself for re-election at the Company's annual general meeting in 2023 and will retire from the Board at the conclusion of that meeting, along with Peter Barker. Patrick Firth will remain a director to support an orderly transition to his replacement as Chair of the Company's Audit Committee (once appointed), before stepping down from the Board in December 2023.

In accordance with Listing Rule 9.6.13, Mr Horlick has advised that he is a non-executive director and chair of BH Macro Limited and a non-executive director of VH Global Sustainable Energy Opportunities PLC, each of which is admitted to trading on the Main Market of the London Stock Exchange. He has advised that there are no further details that need to be disclosed in accordance with the FCA's Listing Rule 9.6.13. In addition to his listed positions, he is currently the non-executive chairman of CCLA Investment Management which manages assets for over 38,000 charities and church and local authority funds.

Richard Horlick is a UK resident and has served on a number of closed end fund boards and was previously head of investment and main board director of Schroders Plc and President, Institutional, of Fidelity International and subsequently chairman of the Trust Bank for the Fidelity Mutual funds in the US.He has had a long and distinguished career in investment management since graduating from Cambridge University in 1980 with an MA in Modern History.

Richard Hayden, Chairman, said: "We are thrilled that Richard Horlick has been appointed to the REL board as Chair elect, his wealth of sustainable energy and investment sector experience will help ensure the future success of the Company as REL continues with its investment objective.  We strongly believe that he is ideally suited to shepherd REL through its next phase of growth focused on the decarbonization of the global economy."

Richard Horlick, Non-executive Independent Director, said: "I am delighted to be joining the Board of REL and welcome the opportunity of working with my fellow Directors and Riverstone in continuing REL's transition to investing fully in decarbonisation assets. I am confident that the manager has the investment skills and deal flow structure to maximise shareholder value while helping to improve our environment. I look forward to meeting our shareholders and reporting on our progress in the years ahead."

About Riverstone Energy Limited:

REL is a closed-ended investment company which invests in the energy industry that has since 2020 been exclusively focussed on pursuing and has committed $181 million to a global strategy across decarbonisation sectors presented by Riverstone's investment platform.  REL's ordinary shares are listed on the London Stock Exchange, trading under the symbol RSE.  REL has 20 active investments spanning decarbonisation, oil and gas, renewable energy and power in the Continental U.S., Western Canada, Europe and Australia.

For further details, see www.RiverstoneREL.com

Neither the contents of Riverstone Energy Limited'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.

Media Contacts

For Riverstone Energy Limited: