Ecofin US Renewables - New Management Arrangements

LEI: 2138004JUQUL9VKQWD21

6 May 2025

Ecofin U.S. Renewables Infrastructure Trust PLC (the "Company")

New management arrangements

As announced by the Company on 7 February 2025, the Company's existing investment manager, Ecofin Advisors, LLC ("EA") served twelve months' notice on the Company to terminate its alternative investment fund management agreement with the Company (the "AIFM Agreement"). The Company's board of directors (the "Board") has since considered its options with respect to the ongoing management of the Company and its assets for the remainder of the Company's managed wind-down process and is pleased to provide an update to shareholders as set out below.

Self-management

The Company announces that it has applied to the FCA to become registered as a self-managed alternative investment fund. Subject to FCA approval, the Company intends that it will remain self-managed for the remainder of its wind-down process. The Company has therefore agreed with EA that the AIFM Agreement will be terminated with effect from the date of the FCA's approval of the Company's application (the "Effective Date"). EA has agreed to waive all fees payable to it by the Company pursuant to the AIFM Agreement between the date of this announcement and the Effective Date. Upon the early termination of EA's appointment on the Effective Date, EA has agreed to pay the Company the sum of US$100,000.

Infrastructure business services agreement

The Company is pleased to announce the appointment of Sustainability Partners Services, LLC ("Sustainability Partners"), to provide day-to-day operational support to the Company in relation to the management of the Company's business and assets (including providing support to the Company's other service providers in relation to valuations and financial reporting).

Nancy Johnson, currently VP, Finance and Asset Management at EA, has accepted a new role with Sustainability Partners as Chief Financial Officer and will continue to oversee the management of the assets. Nancy joined EA in 2022 from NextEra Energy, to lead the group's accounting and asset management team. She has nearly 15 years of experience in the industry and will provide the continuity required for a seamless transition.

Pursuant to the agreement with Sustainability Partners (the "Infrastructure Business Services Agreement"), the Company has agreed to pay Sustainability Partners a one-off setup fee of US$50,000 and an ongoing annual services fee equal to the lesser of one per cent. of the market value of the Company's ordinary shares or the Company's Net Asset Value, subject to a minimum annual fee of US$325,000.

The Company has agreed to indemnify Sustainability Partners in relation to certain potential liabilities to third parties up to a cap of US$1 million. Sustainability Partners has also agreed to indemnify the Company for losses incurred as a result of Sustainability Partners' services in certain circumstances subject to a limit equal to three months' fees.

Subject to limited immediate rights of termination (including on the insolvency of the Company or SP), the Infrastructure Business Services Agreement may be terminated on twelve months' written notice.

Investment policy

The Company's investment policy, as approved by shareholders in January 2025, will continue to be to realise all the assets in the Group's portfolio in an orderly manner with a view to ultimately returning cash to the Company's shareholders following repayment of any outstanding borrowings of the Group from the proceeds of the assets realised.

Enquiries:

This announcement is released by the Company and the information contained within this announcement is deemed by the Company to constitute inside information for the purposes of Article 7 of the UK version of the EU Market Abuse Regulation (Regulation (EU) No.596/2014) which forms part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended. Upon the publication of this announcement via a Regulatory Information Service, such information is now considered to be in the public domain. The person responsible for arranging for the release of this announcement on behalf of the Company is Jenny Thompson of Apex Listed Companies Services (UK) Limited.