Net Asset Value and Factsheet Announcement

5 August 2025

Aquila European Renewables plc

Net Asset Value and Factsheet

Aquila European Renewables plc (the Company), a Euro income fund, announces its unaudited net asset value ("NAV") as of 30 June 2025 was EUR 279.3 million or 73.87 cents per Ordinary Share (31 March 2025: EUR 317.4 million or 84.0 cents per Ordinary Share).

Key drivers of the NAV movement in Q2 2025 were:

− Reductions in European power price curves, which on average across the portfolio decreased by approximately 7% over the next 5 years compared to the last quarter, accounting for 4.6% of the decline in NAV; and

- An increase to the portfolio discount rate to 8.8% due to a combination of factors, including general increases in beta and risk-free rates across financial markets and additional increases in risk premia for certain assets within the portfolio to reflect local market issues. This accounted for a 5.4% decline in NAV.

Further details will shortly be available in the quarterly factsheet on the Company's website at: https://www.aquila-european-renewables.com.

For further details contact:

Corporate Broker

Numis Securities 020 7260 1000

Hugh Jonathan

George Shiel

Media contacts:

Edelman Smithfield

Ged Brumby 07540-412301

www.aquila-european-renewables.com

LEI: 213800UKH1TZIC9ZRP41