EXCLUSIVITY TO ACQUIRE 39 MWDC SOLAR PORTFOLIO

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16 October 2019

US SOLAR FUND PLC (USF, the "Company")

US SOLAR FUND ENTERS EXCLUSIVITY TO ACQUIRE 39 MWDC OPERATIONAL SOLAR PORTFOLIO

US Solar Fund plc (LON: USF (USD)/USFP (GBP)) is pleased to announce it has entered exclusivity with Greenbacker Renewable Energy Corporation (Greenbacker), a leading investor and product sponsor focusing on income-producing renewable energy projects, to acquire an approximately 39MWDC operating utility-scale solar power portfolio consisting of eight projects located in North Carolina (Portfolio).

In keeping with the Company's investment policy, all projects have long-term power purchase agreements (PPA) with investment-grade offtakers. USF's investment manager is completing due diligence and is working expeditiously towards a binding agreement to acquire the Portfolio. All projects are currently operating and selling electricity under their respective PPAs. Subject to the completion of appropriate due diligence and documentation, USF expects to complete the acquisition in the second half of 2019.

Liam Thomas, Chief Investment Officer for New Energy Solar Manager, USF's investment manager, said:

"We are pleased to be making this announcement of exclusivity for another high-quality portfolio. As the Portfolio is already operating and will generate revenue for USF upon acquisition, it will complement USF's existing asset which is currently under construction. We look forward to further updating investors as this, and other pipeline transactions, progress."

Charles Wheeler, CEO of Greenbacker, said:

"We are very pleased to demonstrate our ability to aggregate transactions into portfolios that are attractive to quality institutional investors such as US Solar Fund PLC. We continue to execute our disciplined strategy of acquiring renewable energy assets and bringing them full cycle for our investors when the time is appropriate."

More detailed information will be provided once binding acquisition agreements are executed.

Further information on the Company can be found on its website at http://www.ussolarfund.co.uk.

For further information, please contact:

About US Solar Fund plc

US Solar Fund plc listed on the premium segment of the London Stock Exchange in April 2019, following its successful US$200m IPO. The Company's investment objective is to provide investors with attractive and sustainable dividends with an element of capital growth by investing in a diversified portfolio of solar power assets in North America and other OECD countries in the Americas.

The Company will acquire or construct, own and operate solar power assets that are expected to have an asset life of at least 30 years and generate stable and uncorrelated cashflows by selling electricity to creditworthy offtakers under long-term power purchase agreements (or PPAs).

About Greenbacker

Greenbacker Renewable Energy Company LLC is a publicly registered, non-traded limited liability company that owns a diversified portfolio of income-producing renewable energy power plants, energy efficiency projects and other sustainable investments. For more information, please visit www.greenbackercapital.com.

About the Investment Manager

USF is managed by New Energy Solar Manager (NESM). NESM also manages New Energy Solar, an Australian Securities Exchange (ASX)-listed fund which has committed over US$900m to US and Australian solar plants since late 2015.

NESM is owned by Walsh & Company, the funds management division of Evans Dixon, an ASX-listed company (ASX: ED1) with over A$18 billion of funds under advice and management.