TIDMUKW

RNS Number : 5314O

Greencoat UK Wind PLC

13 June 2022

13 June 2022

Greencoat UK Wind plc

Revision and extension to Investment Management Agreement

Following consultation with shareholders, the Board of Greencoat UK Wind (UKW) is pleased to announce that it has renewed the Investment Management Agreement (IMA) with Greencoat Capital. Greencoat Capital has been the Investment Manager for UKW since IPO in 2013. During that period, UKW has delivered a market-leading total return to shareholders of approximately 150% including 59.7p per share in dividends.

The principal changes to the IMA are as follows:

-- An additional tier added to the cash fee structure, which will see a reduction in the fee charged in respect of NAV over GBP3,000 million to an amount equal to 0.7 per cent., paid in quarterly installments and applied retrospectively;

   --          A refreshed initial term of four years from 1 April 2022, subject to:

-- A reduction to one year's notice if the shares trade below NAV for six months or more, on average, during the initial term; and

-- A revision to the change of control clause to limit the remaining term for these purposes to a maximum of 2 years.

All other material terms remain in line with the previous IMA.

The Investment Manager is a related party of the Company under Chapter 11 of the FCA's Listing Rules and the amendments to the Investment Management Agreement constitute a smaller related party transaction under Listing Rule 11.1.10.

For further information, please contact:

   Greencoat UK Wind PLC                                020 7832 9425

Stephen Lilley

Laurence Fumagalli

Tom Rayner

   Headland Consultancy                                   020 3805 4822

Stephen Malthouse

Rob Walker

Charlie Twigg

Notes to Editors:

Greencoat UK Wind PLC ("UKW") is the leading listed renewable infrastructure fund, which has invested in 45 operating UK wind farms with net generating capacity of 1,610MW (including Twentyshilling and Hornsea 1). The Company's aim is to provide investors with an annual dividend that increases in line with RPI inflation (7.72p for 2022) while preserving the capital value of its investment portfolio in the long term on a real basis through reinvestment of excess cash flow.

UKW is managed by an experienced team at Greencoat Capital LLP, a leading renewable investment manager with over GBP7 billion of assets under management. UKW is governed by a strong and experienced independent board.

UKW is incorporated in England and Wales and is a UK Investment Trust.

For more information about UKW, please visit http://www.greencoat-ukwind.com .

For more information about Greencoat Capital LLP, please visit http://www.greencoat-capital.com .

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