16 February 2023

Aquila Energy Efficiency Trust PLC 

(the "Company")

 Dividend Declaration

The Board of the Company is pleased to declare an interim dividend for the period from 1 October 2022 to 31 December 2022 of 1.25 pence per Ordinary Share, resulting in a total dividend of 3.5 pence per Ordinary Share in respect of the financial year ended 31 December 2022.

The interim dividend will be paid on 20 March 2023 to shareholders who appear on the register on 3 March 2023. The Company's Ordinary Shares will be marked ex-dividend on 2 March 2023.

The Company targeted* a dividend of 3.5 pence per Ordinary Share for the twelve-month period ended 31 December 2022 and is targeting 5.0 pence per Ordinary Share for the twelve-month period ended 31 December 2023. As disclosed in the Chair's Letter accompanying the Notice of General Meeting published on 13 February 2023, following consultation with shareholders in April 2022, it was decided that the Company's dividend payment in respect of the twelve-month period ended 31 December 2022 would be paid principally out of capital. The targeted dividend payments for the twelve-month period ended 31 December 2023 are currently anticipated to be substantially covered by net income.

Enquiries:

LEI: 213800AJ3TY3OJCQQC53

Note:

\* The target returns and dividends set out above are targets only and are not profit forecasts. There can be no assurance that these targets can or will be met and they should not be seen as an indication of the Company's expected or actual results or returns. The Company's ability to distribute dividends will be determined by the existence of sufficient distributable reserves, legislative requirements and available cash reserves. Accordingly, investors should not place any reliance on these targets in deciding whether to invest in the Ordinary Shares or assume that the Company will make any distributions at all.