Title: URL Source: https://is.gd/6QGGBH Published Time: Tue, 28 Jan 2025 07:57:34 GMT Markdown Content: About SEEIT SDCL Energy Efficiency Income Trust plc (“SEEIT” or the “Company”), managed by Sustainable Development Capital LLP (“SDCL”), is the first UK listed company of its kind to invest exclusively in the energy efficiency sector. It owns a portfolio of projects which provide a range of essential energy services, focused on contracts with essential industries in the United States, Europe, the UK and other select markets with attractive risk-adjusted returns. Forms of Energy Efficiency Energy efficiency simply means using less energy to perform the same task, reducing wastage in the supply, demand and distribution of energy. These reductions in turn reduce carbon emissions and costs and can strengthen energy security, the grid and the energy market as a whole. COP28 has recognised the importance of energy efficiency in meeting its climate goals with participants pledging to acknowledge the need to double the global average annual rate of efficiency improvements from around 2% to 4% every year until energy efficiency can take the following forms: Cleaner and More Efficient Supply Green Energy Distribution Demand Reduction at Point of Use # 90.6p Net Asset Value (“NAV”) per share as at 30 September 2024 6.32p Target dividend 1 per share for the year ending 31 March 2025 1.1x Cash cover for dividends paid for the six month ended 30 September 2024 1.05% p.a Annualised ongoing charges percentage for the six months ended 30 September 2024 £1,102m Portfolio valuation 4 for the six months ended 30 September 2024 24%/35% of NAV Structural/Total Gearing 6 as a percentage of enterprise value 7 at 30 September 2024 9.4% Weighted average levered discount rate 5 # 2.1 million shares Average daily trading volume 8 # c.13% Dividend yield 3ISIN GB00BGHVZM47 SEDOL BGHVZM4 Ticker SEIT 1. The target dividend stated above by the Company is based on a projection by the Investment Manager and should not be treated as a profit forecast for the Company. 2. Cashflows are derived from a combination of existing contracts, future growth assumed from existing contracts and extended or new contracts in the future. See section 2.3 of the Annual Report for the year ended 31 March 2024. 3. Share price 50.0 pence as at close on 28 November 2024 and using 2025 full year dividend guidance of 6.32 pence per share. 4. The fair value of investments in aggregate that are held directly or indirectly by the Company’s direct subsidiary SEEIT Holdco Limited 5. Discount rate applied to forecast distributions from the portfolio, assuming amortisation is allowed to run off. Key assumptions as per the Interim Annual Report and Audited Financial Statements six months ended 30 September 2024. 6. Structural gearing comprises consolidated limited recourse debt of the Company’s underlying portfolio investments. Total gearing comprises the aggregate of structural gearing and drawings against the Company’s revolving credit facility. 7. The total gearing as a percentage of NAV was 53% with structural gearing at 37%. 8. Measured for the 12 months ended 31 March 2024 Investment Objectives Generate an attractive total return for investors, comprising stable dividend income and capital preservation, with the opportunity for capital growth. Cashflows underpinned by contracts 2Creditworthy counterparties A diversified, mostly operational portfolio Total Return Opportunity Low Gearing Strategy Aiding net zero transition – Operational investments have an underlying contract for energy services – Targeting to limit and manage exposure to merchant power pricing over medium to long term, mitigating risk where possible – Seeking to contain and manage exposures to counterparty demand risk and regulatory risk – Over 60% of the portfolio by value is associated with investment grade or equivalent counterparties – 50+ projects well diversified by geography, technology and counterparty – Exposure to construction and development stage assets limited to 35% of Gross Asset Value – Scale of portfolio provides a pipeline of proprietary follow-on investments – Asset management initiatives can also generate incremental cashflows without associated incremental funding – Medium-term structural gearing target of 35% of NAV – Total gearing limit of 65% of NAV available for short-term funding of new investments – COP28 identified increasing energy efficiency as a key strategy in mitigating climate change – Sustainability considerations integrated into all processes and operations July 2024 1SEEIT Energy Efficiency Income Trust plc | Factsheet January 2025 # January 2025 Important Information This factsheet was approved for issue in accordance with section 21 of the Financial Services and Markets Act 2000 by Sustainable Development Capital LLP, authorised and regulated by the Financial Conduct Authority (FCA). This document is not and should not be construed as an offer to sell or the solicitation of an offer to purchase or subscribe for any investment. The document is intended for information purposes only and does not constitute investment advice. It is important to remember that past performance is not a guide to future performance. Furthermore, the value of any investment or the income deriving from them may go down as well as up and you may not get back the full amount invested. The target dividends referred to in this document are targets only and not a profit forecast. There can be no assurance that these targets can be met. ©2025 SDCL ENERGY EFFICIENCY INCOME TRUST PLC. All Rights Reserved. Published date: 8 January 2025 1. Presented on a gross asset value (GAV) basis as at 30 September 2024, consisting of Portfolio Valuation and other assets, cash includes net working capital. 2. Construction stage represent investments where construction work has commenced or high degree of confidence in it commencing. >$2.5bn Assets Under Management Across multiple energy efficiency funds 15+ Years of experience in the energy efficiency sector specifically 50+ Employees Including investment, asset management and portfolio management professionals 6 Offices Contacts SDCL Tamsin Jordan +44 204 526 2152 TB Cardew Ed Orlebar +44 207 930 0777 SDCL Overview SDCL is a London-based specialist investment firm with a proven track record of financing and developing clean energy, energy efficiency and decentralised energy infrastructure projects in the UK, Continental Europe, North America and Asia. SDCL is a signatory to the United Nations Principles for Responsible Investment (UNPRI). SDCL is authorised and regulated in the United Kingdom by the Financial Conduct Authority. SEEIT’s ESG Focus Areas Non-Executive Directors Tony Roper (Chair) Christopher Knowles Helen Clarkson Sarika Patel Registered Address The Scalpel 18th Floor 52 Lime Street, London, EC3M 7AF Media and Public Relations Cardew Group Ed Orlebar 29 Lincoln’s Inn Fields, London WC2A 3EG +44 207 930 0777 Investment Manager Sustainable Development Capital LLP One Vine Street, London, W1J 0AH Secretary and Administrator JTC (UK) Limited Ulloma Adighibe The Scalpel, 18th Floor, 52 Lime Street, London, EC3M 7AF +44 20 3832 3877 Corporate Broker Jeffries International Limited Tom Yeadon 100 Bishopsgate, London, EC2N 4JL +44 207 029 8000 Registrar Computershare Investor Services plc Carol Gillespie The Pavilions, Bridgewater Road, Bristol, BS13 4RB +44 370 703 0174 Independent Auditor PricewaterhouseCoopers LLP 40 Clarendon Road Watford, Hertfordshire WD17 1JJ Portfolio by Geography 1as at September 2024 | March 2024 Portfolio by Investment Stage 1as at September 2024 | March 2024 Portfolio by Project 1as at September 2024 | March 2024 Portfolio by Technology 1as at September 2024 | March 2024 UK 8% | 16% Europe 19% | 21% US 67% | 60% Asia Pacific 1% | 1% Cash 5% | 2% Operating 76% | 84% Construction 2 12% | 9% Development 7% | 5% Cash 5% | 2% RED-Rochester 18% | 17% Onyx – Obsidian I 17% | 12% Primary – Cokenergy 9% | 9% Driva (formerly Värtan Gas) 6% | 6% Onyx – Development Platform 4% | 3% Primary – North Lake 4% | 4% Zood – Operational 3% | 3% Capshare 3% | 3% Primary – Portside 2% | 3% FES – R1 2% | 1% Remainder of portfolio 27% | 29% Cash and working capital 5% | 2% UU Solar 0% 0% | 8% Solar & Storage 25% | 25% District Energy 18% | 17% CHP (Waste gases /other) 13% | 13% CHP (Natural Gas) 9% | 12% Gas Distribution Networks 6% | 6% EV charging 5% | 5% Biomass 5% | 5% Lighting 4% | 4% Industrial process efficiency solutions 4% | 4% Bundled Energy Efficiency 3% | 3% Other technologies 3% | 4% Cash and working capital 5% | 2% Principle 1 Champion Energy Efficiency Principle 5 Match Best Practice Principle 2 Deliver Net Zero Energy Principle 3 Promote Sustainable Supply Chains Principle 4 Support Our Communities Links to UN SDGs Links to UN SDGs Links to UN SDGs Links to UN SDGs seeitplc.com 2SEEIT Energy Efficiency Income Trust plc | Factsheet January 2025