Dublin, London | 13 May 2025:

Greencoat Renewables PLC ('Greencoat Renewables' or the 'Company') is pleased to announce an agreement to sell a portfolio of six Irish onshore wind assets, totalling 115.7MW in net capacity, for an up-front consideration of €139m and €17m in non-contingent deferred consideration over 2026 and 2027. The NAV accretive disposal is expected to close in June 2025.

Capital Allocation Strategy

The proceeds from the transaction will be allocated to the repayment of the RCF and will substantially reduce the drawn balance from the €201m reported at Q1 2025. Gearing levels will be reduced from 54% reported at Q1 2025 to c.51% on a proforma basis. The Company continues to target a reduction in gearing over the medium term to a level below 50%.

The disposed portfolio comprises 100% of five assets (65.7MW) and a 50% stake in one of the larger assets in Greencoat Renewables' portfolio. Post disposal, the Company's five year look forward contracted cash flow mix will increase by 2pps.

The purchasing entity is HitecVision and Greencoat Renewables will work alongside HitecVision and its newly created platform company to assess future value creation opportunities at the jointly owned wind farm.

Portfolio Management Strategy

The Irish disposal aligns with the Company's active portfolio management strategy that aims to maintain prudent gearing and a high level of contracted revenues through a combination of asset sales, the creation of new PPAs, and reinvestment in due course. It also underpins the opportunity for long-term value creation on older assets, including the optionality around hybridisation and repowering.

The disposal announced today builds on the disposal of the Kokkoneva wind farm in Finland that the Company announced in November 2024. The Company has therefore raised in excess of €200m from asset sales across 7 assets in the past six months. The combination of these disposals increases our capital allocation options for the future.

The Company continues to explore further disposals and is in advanced negotiations over the sale of a significant minority stake in its 50MW Andella wind farm in Spain. Any proceeds from this transaction will also be allocated to the repayment of the Company's RCF.

Earlier this month the Company announced further success in its corporate PPA contracting strategy with the signing of a second agreement with Keppel DC REIT to supply power to two data centres in Dublin for ten years, and this contract is included in the disposed portfolio. In total the company has now entered into six PPAs since it launched its re-contracting strategy representing c.20% of its 5-year merchant volumes.

Paul O'Donnell, Partner, Schroders Greencoat LLP, commented:

"This transaction reflects the disciplined execution of our capital allocation strategy, unlocking value from our portfolio and further enhancing our financial strength. In the last six months, we have successfully executed disposals that total more than €200 million of gross proceeds, delivering value above our original investment.

We continue to see significant opportunities in the growing European renewable market for Greencoat Renewables to create value for its shareholders. As well as providing future balance sheet flexibility, this latest transaction underpins the opportunity to create increasing value from older assets including re-contracting PPAs and options for hybridisation and repowering."