Net Asset Value and Dividend

4 August 2021

JLEN ENVIRONMENTAL ASSETS GROUP LIMITED

("JLEN" or the "Company")

Net Asset Value and Dividend Announcement

Net Asset Value

JLEN, the listed environmental infrastructure fund, announces that its unaudited Net Asset Value as at 30 June 2021 is £577.1million (96.0 pence per share), an increase of 3.8 pence per share since 31 March 2021. The increase is a reflection of an upward revision of the power price forecasts and above forecast inflation during the period, in addition to an accretive share issuance in May 2021. 

Portfolio update

For the quarter to 30 June 2021, generation for the solar portfolio was above target, attributed to higher than average solar irradiation early in the quarter.

The anaerobic digestion portfolio also performed ahead of target, continuing its trend of out performance.

The wind portfolio performed below generation targets due to poor wind resource in the UK over the quarter although the assets experienced generally little downtime during the period.

Bio Collectors, a food waste fed processing plant, continues to see lower levels of commercial food waste collections due to the pandemic. However, feedstock levels have increased to higher levels post the quarter end.

In aggregate, the renewables portfolio saw generation below target.  However, projects have benefited from increased revenue due to high power prices over the quarter and many of the projects also benefitted from a high level of fixed revenue over the short to medium term.

Dividend

The Company also announces a quarterly interim dividend of 1.70 pence per share for the quarter ended 30 June 2021, in line with the dividend target of 6.80p per share for the year to 31 March 2022, as set out in the 2021 Annual Report.

Dividend Timetable

Ex-dividend date     2 September 2021

Record date             3 September 2021

Payment date          24 September 2021

This announcement contains information that is inside information for the purposes of the Market Abuse Regulation (EU) No. 596/2014.

For further information, please contact: 

About JLEN

JLEN's investment policy is to invest in a diversified portfolio of Environmental Infrastructure. Environmental Infrastructure is defined by the Company as infrastructure assets, projects and asset-backed businesses that utilise natural or waste resources or support more environmentally friendly approaches to economic activity, support the transition to a low carbon economy, or which mitigate the effects of climate change. Such investments will typically feature one or more of the following characteristics:

·    long-term, predictable cash flows, which may be wholly or partially inflation-linked;

·    long-term contracts or stable and well-proven regulatory and legal frameworks; or

·    well-established technologies and demonstrable operational performance.

JLEN's aim is to provide investors with a sustainable, progressive dividend per share, paid quarterly and to preserve the capital value of the portfolio over the long term on a real basis. The target dividend for the year to 31 March 2022 is 6.80¹ pence per share.  The dividend is payable quarterly.

Further details of the Company can be found on its website www.jlen.com. 

 LEI: 213800JWJN54TFBMBI68

⁽¹⁾ These are targets only and not profit forecasts.  There can be no assurance that these targets will be met or that the Company will make any distributions at all.