Octopus Renewables Infrastructure Trust plc

ORIT announced a NAV total return decrease of 5.8% during the quarter. In line with the approach set out in the 2024 Annual Report, the Board and Investment Manager completed a comprehensive review of the long-term energy yield assumptions across the onshore wind portfolio following the accumulation of sufficient operational data. The reassessment reduced NAV but further strengthened ORIT's valuation methodology, with all operating wind assets now valued on actual performance rather than pre-construction forecasts. The NAV adjustment does not reflect any deterioration in the portfolio's underlying operational performance or cash-generating capability. Lower long-term power price forecasts and higher discount rates also impacted NAV, partly offset by supportive macroeconomic assumptions.