Potential Portfolio Sale - Award Of Exclusivity.

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This announcement contains inside information for the purposes of Article 7 of the UK Market Abuse Regulation. Upon publication, this inside information is in the public domain.

18 May 2026

US SOLAR FUND PLC

(the 'Company')

Potential Portfolio Sale - Award Of Exclusivity

US Solar Fund plc (LON: USF (USD)/USFP (GBP)), the renewable energy fund investing in utility-scale solar power plants across North America, announces that it has received a non-binding letter of intent in respect of the proposed sale of USF Holding Corp, the Company's subsidiary which holds its entire portfolio of solar generation assets.

The Board of the Company announces that, further to an initial non-binding letter of intent and based on the review of the assets undertaken during a subsequent period of engagement with a prospective buyer (the "Buyer"), it has now received a further letter of intent for the disposal of its portfolio (the "Potential Transaction") from the Buyer. The letter of intent remains non-binding at this time. The Potential Transaction is at an indicative value representing a significant premium to the Company's current market capitalisation and would include a cash offer for the portfolio paid in full at closing. The portfolio comprises 41 operational solar projects with a combined generation capacity totalling 443 MWDC. The Buyer has requested, and the Board has agreed to grant, an exclusivity period of 90 days, subject to customary carve-outs. The Potential Transaction is subject to due diligence and the negotiation of definitive legal documentation. The identity of the Buyer and further details of the Potential Transaction are not being made public at this time.

While discussions are ongoing, there can be no certainty that a transaction will be agreed upon or as to the final terms of any such agreement. Should the Potential Transaction proceed, it is expected that it will be subject to a shareholder vote. The Board is committed to maximising value for shareholders and will provide a further update, including engaging with shareholders when appropriate. 

ENDS

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.

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 41 operational solar projects with a total capacity of 443MWDC and a weighted average of 9.9 years PPA term remaining as at 31 December 2025, all located in the United States.

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

About Amber Infrastructure Group

Amber Infrastructure Investment Advisor LLC, a member of the Amber Infrastructure Group, was appointed as the Company's Investment Manager on 1 December 2023.

Amber Infrastructure is an international infrastructure specialist, focused on investment origination, development, asset management and in Europe, fund management. Amber's core business focuses on infrastructure assets across the public, transport, energy, digital and demographic infrastructure sectors that support the lives of people, homes and businesses internationally.

Among other funds, Amber Infrastructure advises International Public Partnerships, a FTSE 250-listed Company with a market cap of approximately £2.2 billion and 15-year track record of long-term investment in infrastructure assets globally. Amber is headquartered in London with offices in Europe, North America and Australia and employs c.180 infrastructure professionals.

Amber has had a strategic partnership with the Hunt Group of Companies in the US since 2015 and completed their previously announced strategic transaction with Boyd Watterson in August 2024. Amber is part of Boyd Watterson Global Asset Management Group LLC, a global diversified infrastructure, real estate and fixed income business with over $39 billion in assets under management and over 300 employees with offices in eight US cities and presence in eleven countries.

Further information on Amber can be found on its website: http://www.amberinfrastructure.com.

Important information

This announcement is made without prejudice to ongoing discussions in respect of the Potential Transaction described herein, and the terms thereof. There can be no certainty that any transaction will proceed, nor as to the final terms or timing of any transaction.

As it is intended that the Potential Transaction will comprise the sale of the Company's portfolio of solar generation assets, the UK City Code on Takeovers and Mergers (the "Code") is not expected to apply. The receipt of the non-binding letter of intent and the agreement by the Board to grant an exclusivity period does not constitute an offer for the purposes of the Code.

Nothing in this announcement shall form the basis of or constitute any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for any shares or any other securities nor shall it (or any part of it) or the fact of its distribution, form the basis of, or be relied on in connection with, any contract therefor. None of the Company's shareholders should base any financial decision on this announcement.  Any shareholder action required in connection with the potential transaction will only be set out in documents sent to or made available to shareholders, and any decision made by such shareholders should be made solely and only on the basis of information provided in those documents.

A further announcement will be made in due course.

The person responsible for making this announcement on behalf of the Company is Ruth Wright (JTC (UK) Limited).