18 October 2023

Aquila European Renewables plc awarded 4-star GRESB Green Rating

Aquila European Renewables plc ("AER" or "the Company"), the London-listed investment company advised by Aquila Capital Investmentgesellschaft mbH (the "Investment Adviser") today announced the results of its annual GRESB assessment for 2022.

GRESB is a global ESG benchmark-provider and membership organisation for the real estate and infrastructure sector which synthesises data and provides actionable insights to its members, partners, and investors.

In its third year of participation in the GRESB assessment, the Company has achieved an improvement in both its overall GRESB score and rating for the period. AER achieved an overall GRESB score of 92 out of 100 (2021: 88 out of 100), the highest rating ever achieved by the Company and higher than the average of 88 points amongst its peer group. In addition, AER achieved a 4 out of 5-star GRESB rating (2021: 3 out of 5). While the GRESB score is an absolute measure, the GRESB rating is an overall relative measure of ESG management and performance of the Company highlighting improvement over time.

At the portfolio level, compared to its last GRESB assessment, the results show an improvement in performance in the categories of Reporting (e.g. ESG investor reporting and incident management) and Risk Management (e.g. risk management systems at asset level, social risk assessments and incident reporting), whilst the score in Stakeholder Engagement was maintained. At the asset level, the ratings upgrade recognises AER's strong risk management framework and improved Stakeholder Engagement, whilst the performance in resource and emission management was maintained for AER's assets.

ENDS

For further details contact:

Media Contacts

Edelman Smithfield

Ged Brumby 07540 412301

Sponsor, Broker and Placing Agent

Numis Securities 020 7260 1000

Tod Davis

David Benda

Apex Listed Companies Services (UK) Limited (Company Secretary) 020 3327 9720

NOTES

About AER

The objective of Aquila European Renewables plc is to provide investors with an attractive long-term, income-based return in EUR through a diversified portfolio of onshore wind, solar PV and hydropower investments across continental Europe and Ireland. As a result of the diversification of energy generation technologies, the seasonal production patterns of these asset types complement each other, providing a balanced cash flow profile, while the geographic diversification serves to reduce exposure to any one single energy market. In addition, a balance is maintained between government supported revenues, fixed price power purchase agreements and market power price risk. AER is targeting a dividend of 5.51 cents per share in relation to the financial year ending 31 December 2023, with the aim of increasing this dividend progressively over the medium term.

Further details can be found at: www.aquila-european-renewables.com

LEI Number: 213800UKH1TZIC9ZRP41