19 April 2024

Riverstone Credit Opportunities Income

Quarterly Update

Riverstone Credit Opportunities Income ("RCOI" or the "Company"), the LSE-listed energy infrastructure and energy-transition credit investor, is pleased to announce a robust portfolio performance for the quarter ended 31 March 2024.

Portfolio Summary and Key Performance Indicators

·    Portfolio of 100% floating rate, short duration, senior secured loans, enabling RCOI to deliver annual returns to shareholders of 8-10% from investing in companies engaged in the energy transition

·    43.2% NAV total return⁵ achieved since IPO in May 2019 (34.3% at 31 March 2023)

·    34.1 cents in dividends paid since inception⁶

Portfolio Update

·    Against a backdrop of strong energy market performance, the global drive towards decarbonisation and the Company's unique focus on short duration lending, RCOI remains extremely well positioned in the current environment. Further, the re-balancing of the portfolio to accredited energy-transition focused investments through Green or Sustainability-Linked structures is now complete.

·    On 4 April 2024, the Company successfully realised its Sustainability-Linked first lien term loan with EPIC Propane at a 16.9 percent gross IRR and a 12.8 percent net IRR and 1.24x gross MOIC and a 1.18x net MOIC.

Unaudited Net Asset Value

As at 31 March 2024, the unaudited net asset value per Ordinary Share, including net revenue for the quarter, remained stable at $1.06 ($1.06: 31 December 2023), reflecting continued strong performance by the unrealised portfolio.

Reuben Jeffery III, Chairman of RCOI, commented:

"The RCOI portfolio once again performed strongly in Q1 2024. The Company continues to be a beneficiary of the current interest rate environment with a strategy focused on floating rate, short duration loans that are designed to capture elevated value for our shareholders in the current macro environment.

"Since launch in May 2019, the Company has delivered a NAV total return⁵ of 43.2% (34.3% at 31 March 2023) including 34.1 cents per share in dividend distributions⁶.

"The Board is pleased with the seamless transition to Breakwall Capital as sub-manager and note that the portfolio management team is continuing to perform to the same high standard as they have always done since RCOI's listing.

"The Board remains focused on the upcoming AGM in May 2024, and we are engaging with shareholders to understand their views regarding the future of the Company. Our priority remains optimising the portfolio to ensure long-term value creation for our shareholders and will provide further details in due course."

Christopher Abbate and Jamie Brodsky, Co-Founders of Breakwall Capital, the Company's sub-manager, added:

"We continue to be encouraged by the Company's strong performance and its highly advantageous positioning in the current environment. In addition to the attractive financial returns delivered, we are pleased that the portfolio now consists entirely of Green and Sustainability-Linked loans that contribute positively towards the energy transition across a wide range of applications. The Company is focused, as ever, on providing strong returns and dividends to investors in order to deliver the targeted annual dividend returns of 8-10% on subscribed capital."

Cumulative Portfolio Summary

Unrealised Portfolio[1]

Realised Portfolio

The Gross Realised Capital column includes interest, fee income, and principal received. The Gross Unrealised Value column includes the amortization of OID, accrued interest, fees and any unrealised change in the value of the investment.

For Riverstone Credit Opportunities Income Plc:

Adam Weiss

+1 212 271 2953

Media Contacts:

Buchanan

About Riverstone Credit Opportunities Income Plc:

RCOI lends to companies that build and operate the infrastructure used to generate, transport, store and distribute both renewable and conventional sources of energy, and companies that provide services to that infrastructure. RCOI also lends to companies seeking to facilitate the energy transition by decarbonizing the energy, industrial and agricultural sectors, building sustainable infrastructure and reducing or sequestering carbon emissions. The Company seeks to ensure that its investments are having a positive impact on climate change by structuring each deal as either a green loan or a sustainability-linked loan, documented using industry best practices.

As previously announced, on January 2, Riverstone Holdings LLC, and their affiliate Riverstone Investment Group (collectively, "Riverstone") entered into a sub management agreement for RCOI with Breakwall Capital LLC.  Breakwall is an independent asset manager regulated by the SEC as a Registered Investment Advisor. It is owned and operated by the former members of the Riverstone Credit Partners team.

For further details, see https://www.riverstonecoi.com/.

Neither the contents of RCOI's website nor the contents of any website accessible from hyperlinks on the websites (or any other website) is incorporated into, or forms part of, this announcement.