Bluefield Solar Income Fund : BSIF Factsheet March 2023

BSIF FACTSHEET

As at 31 March 2023

KEY STATISTICS

Ordinary Shares Issued

611,452,217

Share price

139.00p

Market Capitalisation

£850m

NAV1

£850.2m

NAV per Ordinary Share1

139.05p

Premium/Discount to NAV

-0.04%

AIC ongoing charges2

(based on 31 December 2022 calculation)

1.04%

Leverage (as a percentage of GAV)1

40.0%

Target Dividend per Ordinary Share (not less than)

8.40p p.a.

Dividend Yield (based on target dividend)

6.04% p.a

COMPANY INFORMATION

Listing

London Stock Exchange

Premium Segment

Index Inclusion

FTSE 250

SEDOL

BB0RDB9

ISIN

GG00BB0RDB98

Registered Number

56708

Ticker

BSIF.L

Dividend Payments

Quarterly

Financial Year End

30 June

Website

www.bluefieldsif.com

BOARD OF DIRECTORS

Chair

John Scott

Senior Independent Director

Michael Gibbons

Chair of Audit Committee

Paul Le Page

Director

Meriel Lenfestey

Director

Elizabeth Burne

INTRODUCTION

Bluefield Solar Income Fund Limited ("BSIF" or the "Company") focuses, primarily, on acquiring and managing UK-based renewable energy infrastructure assets to generate stable, long term dividends for its shareholders whilst furthering the

decarbonisation of the energy system.

FINANCIAL AND OPERATIONAL HIGHLIGHTS

DIVIDENDS

INVESTMENT OBJECTIVE

The Company seeks to provide Shareholders with an attractive, sustainable return, principally in the form of quarterly income distributions, by investing in a portfolio of large-scale UK based renewable energy infrastructure assets.

INVESTMENT POLICY AND STRATEGY SUMMARY

The Company invests in long life UK solar energy infrastructure, as well as having the ability to invest on a minority basis in other renewable energy assets (including non-subsidised assets) and energy storage assets. Such minority exposure will be limited to a maximum of 25 per cent. of the Company's Gross Asset Value ("GAV") calculated at the time of investment.

No single asset (excluding any third party funding or debt financing in such asset) will represent, on acquisition, more than 25 per cent. of the prevailing net asset value ("NAV").

Total non-recourse financing within the portfolio will not exceed 50 per cent. of the prevailing GAV. Short term debt to facilitate the acquisition of investments (when taken together with the project finance noted above) will also be limited so as not to exceed 50 per cent. of GAV.

Please see the Company's website for the full investment policy.

Registered Office

PO Box 286, Floor 2, Trafalgar Court, Les Banques, St. Peter Port, Guernsey, GY1 4LY1www.bluefieldsif.com

BSIF FACTSHEET 31 March 2023

ESG AND SUSTAINABILITY

The Company continues to make good progress with the implementation of its ESG strategy and has recently satisfied its Level 2 reporting requirements under the Sustainable Finance Disclosure Regulation (SFDR). In relation to this, a recent assessment determined that the Company's current portfolio is 100% aligned with the EU Taxonomy. During the interim period, the Company also adopted a Sustainable Investment Policy and established an ESG committee.

FIGURES BASED ON FORECASTED GENERATION DATA FOR THE PERIOD 1 JULY 2022 - 30 JUNE 2023

GWh of renewable

Forecast annual CO2e

Houses powered with

energy generated

savings (tonnes)

renewable energy

>847

>163,000

>292,000

OPERATIONAL

Other Counties

Wiltshire

11.9%

PORTFOLIO OVERVIEW

14.4%

Leicestershire 1.3%

AS AT 31 MARCH 2023

Sussex 1.4%

Northern Ireland 1.6%

Gloucestershire 1.8%

Derbyshire 2.1%

Norfolk

Cambridgeshire 3.2%

13.1%

GEOGRAPHICAL

Somerset 4.6%

ANALYSIS

4.0 ROC

0.7%

Dorset 4.6%

FiT

2.0 ROC

Hampshire

7.6%

3.4%

9.1%

0.9 ROC 3.6%

Devon 5.2%

1 ROC 2.1%

1.6 ROC

15.2%

Lincolnshire

Oxfordshire

5.4%

7.6%

Cornwall

Kent

1.2 ROC

6.1%

6.6%

18.0%

SUBSIDY

SCHEME

TECHNOLOGY

CAPACITY (MWP)

STATUS

Solar PV

754.3

Operational

1.3 ROC

1.4 ROC

Onshore wind

58.3

Operational

8.9%

40.5%

Total

812.6

Note: Graph percentages are based on capacity

Registered Office

PO Box 286, Floor 2, Trafalgar Court, Les Banques, St. Peter Port, Guernsey, GY1 4LY2www.bluefieldsif.com

BSIF FACTSHEET 31 March 2023

OPERATIONAL

PORTFOLIO OVERVIEW

AS AT 31 MARCH 2023

WIND TURBINE

WIND FARM

SOLAR PV

MICRO SITES

<5MWp

5 - 10MWp

10 - 45MWp

>45MWp

Registered Office

PO Box 286, Floor 2, Trafalgar Court, Les Banques, St. Peter Port, Guernsey, GY1 4LY3www.bluefieldsif.com

BSIF FACTSHEET 31 March 2023

INVESTMENT ADVISER

Bluefield Partners LLP

Bluefield Partners LLP was established in 2009 and is an investment adviser to companies and funds

6 New Street Square

investing in renewable energy infrastructure. It has a proven record in the selection, acquisition and

London, EC4A 3BF

supervision of large-scale energy assets in the UK and Europe.

T: +44 (0) 207 078 0020

The Bluefield team has been involved in over £6.5 billion renewable funds and/or transactions in both

E: [email protected]

the UK and Europe, including over £1 billion for BSIF in the UK since December 2011.

W: www.bluefieldllp.com

Bluefield Partners LLP has led the acquisitions of, and currently advises on, over 200 solar PV and wind

Key Contact:

assets in the UK and Europe that are agriculturally, commercially, or industrially situated. Based in its

James Armstrong

London office, it is supported by a dedicated and experienced team of investment, legal and portfolio

Managing Partner

executives. Bluefield Partners LLP was appointed Investment Adviser to Bluefield Solar in June 2013.

Sponsor, Broker & Financial Adviser

Administrator & Company Secretary

Public relations

Numis Securities Limited

Ocorian Administration (Guernsey) Limited

Buchanan

45 Gresham Street

PO Box 286, Floor 2, Trafalgar Court,

107 Cheapside

London, EC2V 7BF

Les Banques, St Peter Port,

London, EC2V 6DN

Guernsey GY1 4LY

Contact:

Contact:

Contact:

Tod Davis / David Benda

Kevin Smith

Henry Harrison-Topham / Henry Wilson

T: +44 (0)207 260 1000

T: +44 (0)1481 742 742

T: +44 (0)207 466 5000

E: [email protected]

E: [email protected]

E: [email protected]

Registrar

Receiving Agent & UK Transfer Agent

Principal Bankers

Computershare Investor Services

Link Asset Services Limited

NatWest International plc

(Guernsey) Limited

Corporate Actions

35 High Street

c/o 13 Castle Street

The Registry

St Peter Port

St Helier

34 Beckenham Road

Guernsey, GY1 4BE

Jersey, JE1 1ES

Beckenham, Kent, BR3 4TU

HELPLINE:

Telephone: +44 (0) 1534 281 800

http://www.computershareoffshore.com/

CORPORATE CALENDAR

Second interim dividend to be declared in respect to the financial year ending 30 June 2023

11 May 2023

Company Financial Year End

30 June 2023

Third interim dividend to be declared in respect to the financial year ending 30 June 2023

July 2023

Announcement of Annual Results in respect to the financial year ending 30 June 2023

September 2023

Fourth Interim dividend to be declared in respect to the financial year ending 30 June 2023

September 2023

Company Financial Half-Year

31 December 2023

First interim dividend to be declared in respect to the financial year ending 30 June 2023

January 2024

Announcement of Interim Results in respect to the financial year ending 30 June 2023

February 2024

DISCLAIMER

This Factsheet ('Factsheet') in relation to the Bluefield Solar Income Fund ('BSIF') has been prepared by BSIF and is being issued by Bluefield Partners LLP ('Bluefield'), which is authorised and regulated in the United Kingdom by the Financial Conduct Authority.

No Offer: This Factsheet is provided for informational purposes only and does not constitute an offer to sell, or the solicitation of an offer to buy, any securities in any jurisdiction. In particular, this Factsheet is not directed at, or intended for distribution to or use by, any person or entity that is a citizen or resident or located in any jurisdiction where such distribution, publication, availability or use would be contrary to applicable law or regulation or would require any registration or licensing within such jurisdiction. This Factsheet does not constitute or form part of, and should not be construed as, any offer for sale, placement or subscription of, or solicitation of any offer to buy or subscribe for, any interests in any fund and/or vehicle in any jurisdiction, including the United States, nor should it or any part of it form the basis of, or be relied on in connection with, any contract or commitment whatsoever in any jurisdiction, including the United States.

Not Advice: The information contained in this Factsheet is not intended to be, and should not be construed as, investment, financial, legal, tax or other advice, and is not a recommendation, endorsement or representation as to the suitability of any investment. You should seek independent professional advice before making any investment decision.

Past performance is not indicative of future results; no representation is being made that any investment will or is likely to achieve profits or losses similar to those achieved in the past, or that significant losses will be avoided. Capital at Risk.

No Approval By Regulatory Authorities: The contents of this Factsheet have not been approved by any supervisory authority or securities commission in any jurisdiction.

Registered Office

PO Box 286, Floor 2, Trafalgar Court, Les Banques, St. Peter Port, Guernsey, GY1 4LY4www.bluefieldsif.com

Attachments

Disclaimer

Bluefield Solar Income Fund Limited published this content on 29 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 August 2023 23:25:52 UTC.