Appointment of AIFM & Depositary

Ecofin Water & Power Opportunities plc (the "Company")

Notice of Entry into Arrangements with Service Providers to Ensure Compliance with the Alternative Investment Fund Managers Directive ("AIFMD")

The Company announces that it has entered into arrangements necessary to ensure compliance with the AIFMD. The Company's Board of Directors ("the Board") approved the appointment of Ecofin Limited as the Company's Alternative Investment Fund Manager ("AIFM") with effect from 22 July, 2014. The Company has entered into a new investment management agreement with Ecofin Limited which is on the same commercial terms as the previous agreement but is also compliant with the new AIFMD regulatory regime. The arrangements in respect of the investment management and performance fee are unchanged.

The AIFMD requires the Company to appoint a depositary (the "Depositary") and the Board has appointed Citibank International PLC to act as the Company's Depositary. This appointment will take effect on 22 July, 2014 on the terms and subject to the conditions of a depositary services agreement between the Depositary, the Company and Ecofin Limited.

For further information, please contact:

Elspeth Dick 

Ecofin Limited

Investment Manager

Tel: 020 7451 2921

Susan Gledhill

Company Secretary

BNP Paribas Secretarial Services Limited

Tel: 020 7410 5971

21 JULY, 2014