Q1 2022 Interim Dividend

24 May 2022

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

Q1 2022 Interim Dividend

US Solar Fund Plc (LON:USF (USD) / USFP (GBP)) is pleased to announce its Interim Dividend for the period ended 31 March 2022. The Company will pay a dividend in the amount of 1.27 cents per Ordinary Share. The dividend will be paid on 8 July 2022 to Shareholders on the register as at the close of business on 17 June 2022. The ex-dividend date is 16 June 2022.

Any such dividend payment to Shareholders may take the form of either dividend income or "qualifying interest income" which may be designated as an interest distribution for UK tax purposes and therefore subject to the interest streaming regime applicable to investment trusts. Of this dividend declared of 1.27 cents per Ordinary Share, 1.27 cents is declared as dividend income with 0 cents treated as qualifying interest income.

This quarterly dividend is on track with the Company's target full year dividend of 5.58 cents per share for 2022. The Company expects to declare modestly lower quarterly dividends in the first and second quarters and slightly higher quarterly dividends in the third and fourth quarters due to the cash flow profiles of the assets.

USF expects to continue covering dividends paid in 2022 with operating cash flows.

For further information, please contact:

About US Solar Fund plc 

US Solar Fund plc, established in 2019, listed on the premium segment of the London Stock Exchange in April 2019 and has a current market capitalisation of approximately $292m. The Company's investment objective is to provide investors with attractive and sustainable dividends with an element of capital growth by owning and operating solar power assets in North America and other OECD countries in the America.

The solar power assets that the Company acquires or constructs 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). The Company's portfolio currently consists of 42 operational solar projects with a total capacity of 493MWDC, all located in the United States.

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

About the Investment Manager 

USF is managed by New Energy Solar Manager Pty Limited, which also manages Australian Securities Exchange (ASX)-listed New Energy Solar (www.newenergysolar.com.au). Combined, US Solar Fund and New Energy Solar have committed approximately US$1.3 billion to 57 projects totalling 1.2GWDC. 

NESM is owned by E&P Funds, the funds management division of E&P Financial Group, an ASX listed company (ASX: EP1) with over A$20 billion of funds under advice.

LEI: 2138007BIUWE7AHS5Y90