Net Asset Value(s)

RM Infrastructure Income Plc

("RMII" or the "Company")

LEI: 213800RBRIYICC2QC958

NAV Performance

The Company's NAV % Total Return for the quarter was -1.93%. The NAV % Total Return over the last twelve months was -7.61% and inception to date (ITD) +27.67%.

The NAV as at 30th June 2026 was 73.33 pence per Ordinary Share. A breakdown of the -1.44 pence per Ordinary Share in the second quarter of 2026 is provided below:

The negative net interest income for the period of -1.30 pence per Ordinary Share primarily reflects the following two factors (1) the Company continues to apply a conversative revenue recognition policy whereby the majority of the payment-in-kind loans, against which the portfolio is biased towards, is provisioned for, while the fixed cost associated with operating a listed investment trust remain largely inelastic. This outcome is consistent with our expectations and previous communications to shareholders, and (2) the reversal of certain income accounting accruals recorded in prior periods.

The above was partly offset by small valuation adjustments during the quarter totalling +0.60 pence per Ordinary Share.

The other items that negatively impacted the quarterly NAV by -0.74 pence per Ordinary Share largely relate to the timing of certain costs recognised during the period. These principally comprise a concentration of year-end expenses, including audit fees and other administrative costs, which were invoiced during the quarter together with costs incurred in connection with the tender offer of April 2026.

Portfolio Update

As at 30th June 2026, the Company's invested portfolio had an aggregate market value of circa £35 million. This is secured against 3 UK-based operational properties and 3 trading businesses in the UK & Germany.

During the reporting period, the reorganisation of Energie Fitness (Investment Loan Ref 76 & 76.1) was successfully completed. This has resulted in the Company now owning circa 99% of the ordinary equity. RM Funds along with the Energie Fitness' management team will now progress with the club acquisitions for which up to £3 million has been ring-fenced.

On 1st of May 2026, the Company successfully completed its third tender offer, returning c.£12.4m back to shareholders at a net asset value of 74.77 pence per Ordinary Share. In aggregate with the first two tender offers completed in 2024 and 2025, the Company has tendered for a total of 57,922,265 Ordinary Shares, or circa 50% of the number of Ordinary Shares outstanding at the time shareholders approved the managed wind-down of the Company.

As at period end, the Company held circa £7.8 million of cash, of which (1) £3 million has been allocated for Energie Fitness and is expected to be imminently deployed following the successful reorganisation, and (2) circa £4.8 million will be retained by the Company for working capital purposes.

END

For further information, please contact:

RM Capital Markets Limited - Investment Manager

James Robson

Thomas Le Grix De La Salle

Tel: 0131 603 7060

FundRock Management Company (Guernsey) Limited - AIFM

Chris Hickling

Ben Snook

Tel: 01481 737600

NCM Fund Services Limited - Administrator and Company Secretary

Shona Darling

Tel: 0333 188 9168

Singer Capital Markers Advisory LLP - Financial Adviser and Broker

James Maxwell

James Fischer

Tel: 020 7496 3000

About RM Infrastructure Income

RM Infrastructure Income Plc ("RMII" or the "Company") is a closed-ended investment trust established to invest in a portfolio of secured debt instruments.

On 20 December 2023, shareholders approved the implementation of the Managed Wind-down of the Company. Accordingly, the Company's investment objective was restated as follows: "The Company aims to conduct an orderly realisation of the assets of the Company, to be effected in a manner that seeks to achieve a balance between returning cash to Shareholders promptly and maximising value."

For more information, please see

https://rm-funds.co.uk/rm-infrastructure-income/