Foresight Environmental Infrastructure Limited

Positive NAV total return delivered: NAV total return of 1.4% for the quarter, demonstrating the resilience of the Company's diversified portfolio despite softer power price forecasts. Total Shareholder Return ('TSR'): TSR of 28.2% for the quarter, reflecting increased investor recognition of FGEN's differentiated strategy, the resilient portfolio and progressive dividend policy. Stable NAV supported by operational performance: NAV of £652.4 million (31 March 2026: £655.5 million), with NAV per share of 104.7 pence. Positive valuation movements and portfolio performance largely offsetting the impact of lower power price assumptions. Strong cash generation underpinning dividend target: The portfolio continues to generate robust cash flows, with dividend cover expected to remain within the Company's target range of 1.2x to 1.3x, post project debt amortisation. Quarterly dividend declared in line with target: Quarterly dividend of 2.01 pence per share declared, maintaining progress towards the Company's full-year dividend target of 8.04 pence per share. Prudent balance sheet maintained: Gearing remained amongst the lowest in the sector at 29.2% as at 30 June 2026 (28.8% at 31 March 2026), providing financial flexibility to support disciplined capital allocation. Well positioned for organic NAV growth: the Board remains focused on delivering the Company's progressive dividend strategy, alongside NAV growth through consistent operational performance, value enhancements and selective capital recycling.