Removal of Carbon Price Support

LEI: 213800ZPBBK8H51RX165

 17 April 2026

GREENCOAT UK WIND PLC

(the "Company")

Removal of Carbon Price Support

Yesterday the Government stated that it will legislate to remove Carbon Price Support ("CPS") with effect from April 2028.

CPS is a tax on fossil fuels used in electricity generation and was designed to ensure a minimum carbon price for electricity generation. It sits alongside the UK Emissions Trading Scheme ("UK ETS") and serves to top up the UK ETS price by £18/tonne of CO₂.  CPS feeds into electricity prices where a carbon emitting generator, such as a gas plant, is the marginal price setter.

The forecasts in the Investment Manager's valuation assumptions had anticipated that CPS rates would reduce significantly. Further, CPS was expected to become less meaningful to electricity prices in the longer run as UK renewable generating capacity expands and carbon emitting generators set the marginal price less frequently.  Yesterday's announcement brings this forward.

Initial analysis by the Investment Manager indicates that electricity prices used in the Company's NAV could fall by approximately £4 - 5/MWh from April 2028 to the early 2030s, and by £2 - 3/MWh thereafter. The Investment Manager's preliminary assessment is that this could reduce the Company's NAV by 3 - 5 pence per share.

The Company will publish further details in its Q1 factsheet, which is expected to be released on 27 April 2026.

For further information, please contact:

Greencoat UK Wind PLC                 

Stephen Packwood

Matt Ridley

John Musk (Investor Relations)                          020 7832 9425

[email protected]

Headland                                                                               020 3805 4822

Stephen Malthouse

Charlie Twigg

[email protected]

Ocorian Administration (UK) Limited Company Secretary

Josh Finlay                                                                   028 9693 0219