Acknowledgement of PrimeStone Capital LLP letter

1 July 2026

Gresham House Energy Storage Fund plc

("GRID", or the "Company")

Acknowledgement of PrimeStone Capital LLP letter

Gresham House Energy Storage Fund plc (LSE: GRID), the UK's largest listed fund investing in utility-scale battery energy storage systems (BESS), notes the public letter published by PrimeStone Capital LLP ("PrimeStone") on 30 June 2026. The Board regularly engages directly with shareholders and always welcomes their feedback on the Company's strategy and evolution.

The Board acknowledges the constructive tone of PrimeStone's engagement. The Board appreciates PrimeStone's recognition of GRID's "considerable operational progress", the "quality of GRID's assets", and a Manager which has "delivered a strong run of operational and financial milestones", listing seven of those milestones in detail - all contributing to GRID's "attractive prospects for further profit growth". The Board also notes PrimeStone's views around the "disconnect" between those prospects and Company's current share price.

The Board maintains a meticulous focus on continued strategic and operational progress, thereby ensuring the delivery of the milestones and growth ambitions, in particular in relation to NAV and earnings, that underpin the Board's drive for shareholder value.

The Board will consult further with shareholders and respond to PrimeStone's letter in due course.

ENDS

For further information, please contact:

LEI: 213800MSJXKH25C23D82

About the Company and the Manager: 

Gresham House Energy Storage Fund plc aims to invest in a diversified portfolio of utility-scale battery energy storage systems (known as BESS) located in Great Britain and internationally. The Company seeks to provide investors with the prospect of capital growth through the re-investment of net cash generated in excess of its target dividend in accordance with the Company's investment policy.

Gresham House Asset Management Ltd is the FCA authorised operating business of Gresham House Ltd, a specialist alternative asset manager. Gresham House is committed to operating responsibly and sustainably, taking the long view in delivering sustainable investment solutions. 

www.greshamhouse.com

Definition of utility-scale battery energy storage systems (BESS)

Utility-scale battery energy storage systems (BESS) are the enabling infrastructure that will support the continued growth of renewable energy sources such as wind and solar, essential to the UK's stated target to reduce carbon emissions. They store excess energy generated by renewable energy sources and then release that stored energy back into the grid during peak hours when there is increased demand.