3 November 2023

Aquila European Renewables plc

Dividend Payment

The Board of Aquila European Renewables plc ("AER" or the "Company") is pleased to declare a third interim dividend for the quarter to 30 September 2023 of 1.3775 cents per Ordinary share. Of this amount, 0.8614 cents per ordinary share will be designated as an interest distribution. The dividend will be paid on 8 December 2023 to shareholders who appear on the register on 17 November 2023. The Company's Ordinary shares will be marked ex-dividend on 16 November 2023.

Shareholders should note that the default payment currency is Euro, however, shareholders can elect to have their dividends paid in Sterling. The last day for currency elections to be registered is 20 November 2023. Currency elections should be submitted via CREST in the usual manner. Certificated shareholders can access a currency election form via the Registrar's website at www.investorcentre.co.uk. The Company will announce the Sterling dividend rate in respect of the second quarterly dividend on 21 November 2023.

For further details contact:

Media contacts

Edelman Smithfield

Ged Brumby 07540-412301

Hamza Ali 07976 308914

Sponsor, Broker and Placing Agent

Numis Securities 020 7260 1000

Tod Davis

David Benda

Vicki Paine

NOTES

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 wind, solar PV and hydropower investments across continental Europe and Ireland. Through the diversification of generation technologies, the seasonal production patterns of these asset types complement each other to balance the cash flow, while the geographic diversification serves to reduce exposure to one single energy market. In addition, a balance is maintained between government supported revenues, fixed price power purchase agreements and market power price risk.