US Solar Fund PLC NAV UPDATE AND FACTSHEET (2275S)

TIDMUSF TIDMUSFP

RNS Number : 2275S

US Solar Fund PLC

05 November 2019

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, TO US PERSONS OR INTO OR WITHIN THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN, OR ANY OTHER JURISDICTION WHERE, OR TO ANY OTHER PERSON TO WHOM, TO DO SO WOULD BE UNLAWFUL. THE INFORMATION CONTAINED HEREIN DOES NOT CONSTITUTE OR FORM PART OF ANY OFFER TO SELL OR ISSUE, OR ANY SOLICITATION OF ANY OFFER TO PURCHASE, SUBSCRIBE FOR OR OTHERWISE ACQUIRE, ANY INVESTMENTS IN ANY JURISDICTION.

5 November 2019

US SOLAR FUND PLC (USF, the "Company")

NAV UPDATE AND FACTSHEET

US Solar Fund plc (LON: USF (USD)/USFP (GBP)), a newly established investment company focused on investing in solar power assets primarily in the United States, is pleased to announce that its unaudited NAV at 30 September 2019 was $195 million or $0.977 per Ordinary Share.

During Q3 2019, USF:

-- executed and closed an acquisition agreement for the 128 megawatt (MWDC) utility-scale solar project Milford Solar Project (Milford). Milford has commenced construction and is expected to be operational in late 2020;

-- announced its first interim dividend of 0.41 cents per ordinary share (to be paid on 8 November 2019). This represents an annualised dividend yield of 2% when measured against the initial issue price of $1.00 per ordinary share;

-- as at 30 September 2019, the Investment Manager's pipeline included 4,219 MWDC of assets with $3.7 billion of cash equity value and an average PPA term of 14.3 years.

After the end of the period, in October, USF announced that it had entered exclusivity to acquire an approximately 39 MWDC operating utility-scale solar power portfolio consisting of eight projects located in North Carolina (Greenbacker).

The Company's factsheet for Q3 2019 is available on the Company's website at: www.ussolarfund.co.uk/investor-centre.

For further information, please contact:

 
US Solar Fund 
 Whitney Voûte                  +1 718 230 4329 
Cenkos Securities plc 
 Will Rogers 
 Rob Naylor 
 Will Talkington                     +44 20 7397 8900 
Macquarie Capital (Europe) Limited 
 Stephen Taylor 
 Alex Reynolds                       +44 20 3037 2000 
KL Communications                    +44 20 3995 6673 
Charles Gorman 
 Josie Workman 
 Charlotte Stickings

About US Solar Fund plc

US Solar Fund plc listed on the premium segment of the London Stock Exchange in April 2019, following its successful US$200m IPO. The Company's investment objective is to provide investors with attractive and sustainable dividends with an element of capital growth by investing in a diversified portfolio of solar power assets in North America and other OECD countries in the Americas.

The Company will acquire or construct, own and operate solar power assets that are expected to have an asset life of at least 30 years and generate stable and uncorrelated cashflows by selling electricity to creditworthy offtakers under long-term power purchase agreements (or PPAs).

Further information on the Company can be found on its website at http://www.ussolarfund.co.uk.

About the Investment Manager

USF is managed by New Energy Solar Manager (NESM or the Investment Manager). NESM also manages New Energy Solar, an Australian Securities Exchange (ASX)-listed fund which has committed over US$900m to US and Australian solar plants since late 2015.

NESM is owned by Walsh & Company, the funds management division of Evans Dixon, an ASX-listed company (ASX: ED1) with over A$18 billion of funds under advice and management.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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