4 October 2022

SDCL Energy Efficiency Income Trust plc
("SEEIT" or the "Company")

Company Update

SDCL Energy Efficiency Income Trust plc, the first London Stock Exchange listed investment company of its kind to invest exclusively in the energy efficiency sector, is pleased to provide an update on recent Company activity.

Director / PDMR Share Purchases and Market Update

The Company recognizes that recent market volatility has resulted in the Company's share price trading below its most recently published NAV per share.

The Company confirms that yesterday, members of the Board, individuals at the Investment Manager and associates thereof have purchased a total of 104,343 shares on market.

The Directors consider that SEEIT is investing in one of the largest and fastest growing sources of energy cost reductions, energy security, and decarbonisation. With energy cost increases today being a major driver of inflation, energy efficiency has become more valuable than ever. Indeed, SEEIT's diversified and large scale portfolio of projects provides essential energy services to essential industry, benefitting from robust operational capabilities to generate clean energy and savings at a time of substantial stress and shortages in the grid.

The Company has a robust liquidity position, well capitalised through a combination of cash on balance sheet and available undrawn credit facilities. SEEIT's existing debt at portfolio level is predominantly fixed and therefore not materially exposed to movements in interest rates over the medium-term. The Company remains under its medium-term gearing target of 35 per cent of NAV, well below its short-term gearing limit of 65 per cent of NAV, and with low short term re-financing risk, is in a favourable position to continue to execute on its investment strategy.

SEEIT currently holds less than 20% of net assets in UK-denominated currency. The Company applies active foreign exchange management through currency hedges to protect against impacts to NAV from material movements in foreign exchange rates, and to provide stability and predictability of near to medium term Sterling cash flows. Net foreign exchange impact has been less than 1% of NAV each year since the Company's listing.

SEEIT benefits from predominantly long term contracted cash flows with more than half of SEEIT's revenues being inflation linked and its net asset value is positively correlated with inflation. The Company has previously disclosed the impact of various sensitivities on its NAV per share in its Annual Report.

Jonathan Maxwell, CEO of Sustainable Development Capital LLP, said: "There are times, particularly during periods of market volatility, when market prices and value can diverge significantly, compared either to prevailing net asset values on the one hand, or to future prospects on the other. Energy efficiency has never been more valuable as a source of cost and carbon emission reductions as well as energy security. Against this market background and outlook, members of the Board and individuals at the Investment Manager have taken the opportunity to acquire shares in the market".

Acquisition Completion

Further to its announcement on 12 July 2022, SEEIT confirms that it has completed the acquisition of a 100% interest in United Utilities Renewable Energy Ltd ("UU Solar"), a portfolio of on-site, predominantly solar PV operational projects totalling 69 MW across 70 sites in the Northwest of England, for a cash consideration of approximately £100 million.

The assets provide renewable energy generated on-site directly to the end-user, United Utilities Water Limited ("UUW"). UUW is the regulated water and wastewater business of United Utilities Group PLC, a listed water and wastewater company in the UK.

The acquisition has been funded from existing cash reserves.

For Further Information

About SEEIT

SDCL Energy Efficiency Income Trust plc is a constituent of the FTSE 250 index. It was the first UK listed company of its kind to invest exclusively in the energy efficiency sector. Its projects are primarily located in the UK, Europe and North America and include, inter alia, a portfolio of cogeneration assets in Spain, a portfolio of commercial and industrial solar and storage projects in the United States, a regulated gas distribution network in Sweden and a district energy system providing essential and efficient utility services on one of the largest business parks in the United States.

The Company aims to deliver shareholders value through its investment in a diversified portfolio of energy efficiency projects which are driven by the opportunity to deliver lower cost, cleaner and more reliable energy solutions to end users of energy.

The Company is targeting an attractive total return for shareholders of 7-8 per cent. per annum (net of fees and expenses and by reference to the initial issue price of £1.00 per Ordinary Share), with a stable dividend income, capital preservation and the opportunity for capital growth. The Company is targeting an aggregate dividend of 6.00p per share in respect of the financial year to 31 March 2023. SEEIT's last published NAV was 108.4p per share as at 31 March 2022.

Past performance cannot be relied on as a guide to future performance.

Further information can be found on the Company's website at www.seeitplc.com.

Investment Manager

SEEIT's investment manager is Sustainable Development Capital LLP, an investment firm established in 2007, with a proven track record of investment in energy efficiency and decentralised generation projects in the UK, Continental Europe, North America and Asia.

SDCL is headquartered in London and also operates worldwide from offices in New York, Dublin, Madrid, Hong Kong and Singapore. SDCL is authorised and regulated in the UK by the Financial Conduct Authority.

Further information can be found on at www.sdclgroup.com.