Placing Programme

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, TO US PERSONS OR INTO OR WITHIN THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN, OR ANY OTHER JURISDICTION WHERE, OR TO ANY OTHER PERSON TO WHOM, TO DO SO WOULD BE UNLAWFUL. THE INFORMATION CONTAINED HEREIN DOES NOT CONSTITUTE OR FORM PART OF ANY OFFER TO SELL OR ISSUE, OR ANY SOLICITATION OF ANY OFFER TO PURCHASE, SUBSCRIBE FOR OR OTHERWISE ACQUIRE, ANY INVESTMENTS IN ANY JURISDICTION.

4 April 2022

US SOLAR FUND PLC (USF, the "Company")

Placing Programme

US Solar Fund PLC (LSE: USF) published its Annual Report and Financial Statements for the year ended 31 December 2021 on 24 March 2022. The current placing programme established by the prospectus published by the Company on 13 April 2021 (Placing Programme) is due to terminate on 12 April 2022.

As only eight days of the Placing Programme remain unexpired, the Directors have decided not to publish a supplementary prospectus which would otherwise be required to include financial information extracted from the 2021 Annual Report and Financial Statements. As a result, the Placing Programme will terminate with immediate effect.

The Board and Investment Manager are conscious of the need to continue to grow the Company. The Company remains able to issue up to 63,834,636[1] shares without publication of a further prospectus under the relevant exclusions in Article 1(4) of the Prospectus Regulations. Additionally, the Company will, in due course and subject to prevailing market conditions, consider issuing a further prospectus and creating a new placing programme.

For further information, please contact:

About US Solar Fund plc 

US Solar Fund plc, established in 2019, is listed on the premium segment of the London Stock Exchange in April 2019. The Company's investment objective is to provide investors with attractive and sustainable dividends with an element of capital growth by owning and operating solar power assets in North America and other OECD countries in the America.

The solar power assets that the Company acquires or constructs are expected to have an asset life of at least 30 years and generate stable and uncorrelated cashflows by selling electricity to creditworthy offtakers under long-term power purchase agreements (or PPAs). The Company's portfolio consists of 42 operational solar projects with a total capacity of 543 MW_DC, all located in the United States.

Further information on the Company can be found on its website at http://www.ussolarfund.co.uk.

About the Investment Manager 

USF is managed by New Energy Solar Manager (NESM). NESM also manages New Energy Solar, an Australian Securities Exchange (ASX)-listed fund. Combined, US Solar Fund and New Energy Solar have committed approximately US$1.3 billion to 57 projects totalling 1.2GW_DC.

NESM is owned by E&P Funds, the funds management division of E&P Financial Group, an ASX listed company (ASX: EP1) with over A$20 billion of funds under advice.