Pipeline and operational update

Calisen plc

Addition of 1.3 million smart meters to the pipelineto bring the projected 2025 portfolio to 13.2 million meters

Calisen plc ("Calisen" and together with its subsidiaries the "Group") is pleased to announce the following updates:

Pipeline update

· The Group has been awarded preferred bidder status on a further 1.3 million smart meters;

· The estimated smart meter pipeline has increased to 7.5 million meters;

· Combining the 5.7 million revenue generating smart meters at 30 September 2020 with the updated pipeline of 7.5 million meters increases the projected 2025 smart meter portfolio to approximately 13.2 million meters; and

· This takes Calisen's projected 2025 portfolio beyond management's expectations at the time of the IPO.

Operational update

· In Q3 2020, the revenue generating smart meter portfolio increased by 0.2 million meters from 5.5 million at 30 June 2020 to 5.7 million meters at 30 September, in line with expectations.

Meter portfolio metrics

Note: not all numbers sum due to rounding. Estimated smart meter pipeline includes preferred bidder status awarded after period end and prior to announcement.

Bert Pijls, CEO, said:

"I am pleased to report that our expected smart meter pipeline has increased by over one million meters. This brings our projected portfolio at the end of the roll-out to 13.2 million meters, compared to the 11.9 million meters reported in August. Securing extra meter volumes in this way is testament to the great work of our team and our trusted collaboration with energy retailers, helping them deliver on their commitments under the Government's smart meter implementation plan.

"I am delighted that by adding more meters to our pipeline, we continue to grow our market share beyond our expectations.

"I am confident that the combination of our resilient business model and financial strength should see the Group deliver solid growth as we build out our even larger meter portfolio over the medium term."

This announcement has been determined to include inside information. The person responsible for arranging for the release of this announcement on behalf of Calisen is Sarah Blackburn, General Counsel and Company Secretary.

Calisen cannot guarantee that its pipeline will result in actual revenue and preferred bidder status may not result in a contract being entered into. If it is not possible to conclude a legally binding contract on the back of the award of preferred bidder status, Calisen will update the market.

Forward looking statements

This announcement includes forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties, many of which are beyond the Group's control and all of which are based on the Directors' current beliefs and expectations about future events. Forward-looking statements are sometimes identified by the use of forward-looking terminology such as "guidance", "believe", "expects", "may", "will", "could", "should", "shall", "risk", "intends", "estimates", "aims", "plans", "predicts", "continues", "assumes", "positioned", "targets" or "anticipates" or the negative thereof, other variations thereon or comparable terminology. These forward-looking statements include all matters that are not historical facts and include statements regarding the intentions, beliefs or current expectations of the Directors or the Group concerning, among other things, the results of operations, financial condition, prospects, growth, strategies, and dividend policy of the Group and the industry in which it operates. No assurance can be given that such future results will be achieved; actual events or results may differ materially as a result of risks and uncertainties facing the Group. Such risks and uncertainties could cause actual results to vary materially from the future results indicated, expressed, or implied in such forward-looking statements. Such forward-looking statements contained in this announcement speak only as of the date of this announcement.

Enquiries:

Analysts and investors

Calisen Investor Relations

Adam Key

Investor Relations Director

+44 7572 231453

[email protected] 

Media

Finsbury (public relations adviser to Calisen)

Dorothy Burwell / Harry Worthington

+44 7733 294 930 / +44 7818 526 556

[email protected]

Issued by Calisen plc.

Registered in England and Wales no. 12383518.

Registered Office: 5th Floor, 1 Marsden Street, Manchester M2 1HW.