Dividend Declaration and 2022 Dividend Guidance

7 February 2022

LEI: 213800B81BFJKWM2JV13

Octopus Renewables Infrastructure Trust plc

("ORIT" or the "Company")

Dividend Declaration and 2022 Dividend Increase

The Board of Octopus Renewables Infrastructure Trust plc is pleased to declare an interim dividend in respect of the period from 1 October 2021 to 31 December 2021 of 1.25 pence per ordinary share, payable on 4 March 2022 to shareholders on the register at 18 February 2022. The ex-dividend date will be 17 February 2022 (the "Q4 2021 Dividend").

A portion of the Company's dividends is designated as an interest distribution for UK tax purposes. The interest streaming percentage for the Q4 2021 Dividend is 29.7%.

The Q4 2021 Dividend is the fourth of four equal dividends totalling 5.0 pence per ordinary share for the financial year to 31 December 2021 ("FY 2021"), meeting the Company's FY 2021 dividend target in full.

2022 Dividend Guidance

The Company has a progressive dividend policy and is targeting an annualised dividend of 5.24 pence per ordinary share for the financial year to 31 December 2022* ("FY 2022"). This represents an increase of 4.8% over the dividend target for FY 2021 and is in line with the increase to the Consumer Price Index (CPIH) for the 12 months to 31 December 2021.

Phil Austin, Chairman of Octopus Renewables Infrastructure Trust plc, commented: "We are pleased to deliver on our dividend target for FY 2021 and to increase our annual dividend target for FY 2022 by 4.8%*, alongside the increase in unaudited NAV also announced today. This reflects the Company's positive performance driven by our diverse portfolio of renewable energy assets across the UK and wider Europe, including operational and in construction assets."

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*The dividend and return targets stated in this announcement are targets only and not profit forecasts. There can be no assurance that these targets will be met, or that the Company will make any distributions at all and they should not be taken as an indication of the Company's expected future results. The Company's actual returns will depend upon a number of factors, including but not limited to the Company's net income and level of ongoing charges. Accordingly, potential investors should not place any reliance on these targets and should decide for themselves whether or not the target dividend and target net total shareholder return are reasonable or achievable. Investors should note that references in this announcement to "dividends" and "distributions" are intended to cover both dividend income and income which is designated as an interest distribution for UK tax purposes and therefore subject to the interest streaming regime applicable to investment trusts.

Notes to editors

About Octopus Renewables Infrastructure Trust

Octopus Renewables Infrastructure Trust plc is a closed-ended investment company incorporated in England and Wales focused on providing investors with an attractive and sustainable level of income returns, with an element of capital growth, by investing in a diversified portfolio of renewable energy assets in Europe and Australia.

Further details can be found at www.octopusrenewablesinfrastructure.com

About Octopus Renewables

Octopus Renewables is a specialist clean energy investor. Launched in 2010 its mission is to accelerate the transition to a future powered by renewable energy. It has a diverse portfolio of assets with a capacity of over 2.8GW, making it the largest commercial solar investor in Europe and a leading investor in onshore wind.

Octopus Renewables is also leading the next wave of renewables being built without government subsidies. There is a significant opportunity to unblock much needed investment by building bespoke portfolios of renewable assets at scale, across technologies and countries, to create better outcomes for our investors.

Further details can be found at www.octopusrenewables.com

Neither the content of any website referred to in this announcement nor the content of any website accessible from hyperlinks is incorporated into, or forms part of, this announcement.