NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, IN OR TO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH THE PUBLICATION, DISTRIBUTION OR RELEASE OF THIS ANNOUNCEMENT WOULD BE UNLAWFUL.

31 July 2023

Triple Point Energy Transition plc

(the "Company" or together with its subsidiaries, the "Group")

Portfolio Update

DIF Invests £200m in Battery Storage Counterparty

Triple Point Energy Transition plc (ticker: TENT), the London Stock Exchange listed investment company focused on building a portfolio of infrastructure investments that support the energy transition, is pleased to announce that Virmati Energy Ltd (trading as "Field"), a battery storage counterparty, to whom the Group committed a £45.6m debt facility in March 2022, has raised a £200m equity investment from DIF Capital Partners (via its DIF Infrastructure VII Fund) ("DIF").

This investment will enable Field to significantly scale its fleet of Battery Energy Storage System ("BESS") assets, as well as enhance its in-house development and operational capabilities, thus improving its ability to deliver greater value as a part of TENT's portfolio.

DIF is an independent infrastructure equity fund manager established in 2005 currently controlling more than €15 billion of investments.

John Roberts, Chairman of TENT, said:

"We are delighted to see further significant institutional capital follow us by investing in Field. Field's extensive pipeline of assets and strong in-house expertise were a clear attraction when TENT committed its capital in 2022 and we expect the investment by DIF to further enhance both Field's capabilities in deploying BESS and its available financial resources.

With the portfolio's second BESS asset at Gerrards Cross due to commence operations later this year, we are looking forward to continuing to work closely with Field on this critical asset class that plays such a key role in enabling renewable generation."

For further information, please contact:

LEI: 213800UDP142E67X9X28

Further information on the Company can be found on its website: www.tpenergytransition.com

NOTES:

The Company is an investment trust which aims to invest in assets that support the transition to a lower carbon, more efficient energy system and help the UK achieve Net Zero.

Since its IPO in October 2020, the Company has made the following investments and commitments:

·    Harvest and Glasshouse: provision of £21m of senior debt finance to two established combined heat and power ("CHP") assets, located on the Isle of Wight, supplying heat, electricity and carbon dioxide to the UK's largest tomato grower, APS Salads ("APS") - March 2021

·    Spark Steam: provision of £8m of senior debt finance to an established CHP asset in Teesside supplying APS, as well as a further power purchase agreement through a private wire arrangement with another food manufacturer - June 2021

·    Hydroelectric Portfolio (1): acquisition of six operational, Feed in Tariff ("FiT") accredited, "run of the river" hydroelectric power projects in Scotland, with total installed capacity of 4.1MW, for an aggregate consideration of £26.6m (excluding costs) - November 2021

·    Hydroelectric Portfolio (2): acquisition of a further three operational, FiT accredited, "run of the river" hydroelectric power projects in Scotland, with total installed capacity of 2.5MW, for an aggregate consideration of £19.6m (excluding costs) - December 2021

·    BESS Portfolio: commitment to provide a debt facility of £45.6m to a subsidiary of Virmati Energy Ltd (trading as "Field"), for the purposes of building a portfolio of four geographically diverse Battery Energy Storage System ("BESS") assets in the UK with a total capacity of 110MW - March 2022

·    Energy Efficient Lighting: Funding of c.£2.2m to a lighting solutions provider to install efficient lighting and controls at a leading logistics company - March 2023

·    Innova: Provision of a £5m short term development financing facility to Innova Renewables, building out a portfolio of Solar and BESS assets across the UK - March 2023

The Investment Manager is Triple Point Investment Management LLP ("Triple Point") which is authorised and regulated by the Financial Conduct Authority. Triple Point manages private, institutional, and public capital, and has a proven track record of investment in energy transition and decentralised energy projects.

Following its IPO on 19 October 2020, the Company was admitted to trading on the Premium Segment of the Main Market of the London Stock Exchange on 28 October 2022. The Company was also awarded the London Stock Exchange's Green Economy Mark.