The Board is pleased to announce that the placing of New Ordinary Shares pursuant to the Company’s existing Share Issuance Programme (the “Placing”) announced on 13 October 2020 has received a strong level of support from investors and has been significantly oversubscribed.

Taking into account the strength of the Company’s near-term acquisition pipeline, as well as further positive progress with the negotiations to acquire an established, operational and regulated energy network in a major Western European city (the “Target Asset”), the Board has determined to increase the size of the Placing from gross proceeds of £80 million to £105 million by re-allocating New Ordinary Shares available under the Share Issuance Programme to the Placing. Accordingly, the Placing will result in the issue of 100 million New Ordinary Shares at the Placing Price of 105 pence per share.

As applications for the New Ordinary Shares have exceeded the gross proceeds accepted, a scaling back exercise has taken place.

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Tony Roper, Chairman of SDCL Energy Efficiency Income Trust plc said:

“We are grateful for the strong support we have received from both new and existing investors. Given the strength of investor demand and the progress we have made with our near-term acquisition pipeline, we have increased the amount raised to £105m from £80m. The new funds will allow SEEIT to continue to invest in energy efficiency projects that are essential for reducing carbon emissions, while delivering stable and attractive returns for our investors, as we further expand and diversify our portfolio.”

Admission of New Ordinary Shares and Total Voting Rights

Applications have been made for all of the New Ordinary Shares to be admitted to the Premium Listing segment of the Official List of the UK Financial Conduct Authority (the “FCA”) and to trading on the London Stock Exchange’s Main Market for listed securities (“Admission”). It is expected that Admission will take effect, and dealings in the Placing Shares will commence, at 8.00 a.m. (London time) on 20 October 2020.

The New Ordinary Shares will be issued in registered form and may be held in uncertificated form. The New Ordinary Shares allocated will be issued to Placees through the CREST system unless otherwise stated. The New Ordinary Shares will be eligible for settlement through CREST with effect from Admission. The New Ordinary Shares, when issued, will rank pari passu with the existing Ordinary Shares including the right to receive all dividends and other distributions declared, made or paid after the date of issue.

Immediately following Admission, the Company will have 526,143,739 ordinary shares in issue and therefore the total voting rights in the Company will be 526,143,739. This figure may be used by shareholders as the denominator for the calculations by which they may determine whether or not they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA’s Disclosure Guidance and Transparency Rules.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain. Unless otherwise defined, capitalised terms used in this announcement shall have the same meaning as set out in the Prospectus published on 19 June 2020.

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Unless otherwise defined, capitalised terms used in this announcement shall have the same meaning as set out in the Prospectus published on 19 June 2020.

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Important Information

This announcement is not an offer to sell or a solicitation of any offer to buy the Shares in the Company in the United States, Australia, Canada, New Zealand or the Republic of South Africa, Japan, or in any other jurisdiction where such offer or sale would be unlawful.

This communication is not for publication or distribution, directly or indirectly, in or into the United States of America. This communication is not an offer of securities for sale into the United States. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States, except pursuant to an applicable exemption from registration. No public offering of securities is being made in the United States.