Highlights of the Placing:

• Gross proceeds of €147.7 million raised via the Placing.

• 140 million Placing Shares will be issued at the Placing Price of €1.055 per Placing Share, increasing the total issued share capital of the Company to 520 million Ordinary Shares.

• Approximately 100 million New Shares previously announced upsized to maximum remaining capacity under the 250 million Share Issuance Programme due to substantial excess demand.

• Entire capacity under the Share Issuance Programme authority, granted at the Company's extraordinary    general meeting, held on 1 August 2018, now fully utilised.

• In line with strategy, the proceeds of the Placing will be used to pay down the Company's existing Revolving Credit Facility, freeing up capital to take advantage of further value accretive acquisition opportunities in Ireland.

• The secondary wind market in Ireland remains very active, with the company involved in a number of attractive processes totalling more than 250MW in aggregate capacity. This includes the potential acquisition of a high-quality operating asset already under exclusivity, with a headline enterprise value of €76m and an expected close at the end of March 2019.

• Following receipt of the net proceeds and completion of the potential acquisition, pro forma gearing is expected to be 44% (currently 56%).

Rónán Murphy, Chairman of Greencoat Renewables, commented: