HY25 Results Highlights

28 November 2025

FORESIGHT ENVIRONMENTAL INFRASTRUCTURE LIMITED

(“FGEN” or the “Company”)

Half-year results for the six months ended 30 September 2025

FGEN, a leading investor in private environmental infrastructure assets across the UK and mainland Europe, is pleased to announce the Company’s interim results for the six months ended 30 September 2025.

Ed Warner, Chair of FGEN, said:

“FGEN has delivered another period of solid progress despite persistent sector headwinds. Our diversified portfolio continues to generate strong cash flows, providing a dependable foundation for dividend growth and long-term value creation.

“We remain on track to meet our full-year dividend target, supported by proactive portfolio management and disciplined follow-on investments that unlock further value. While the market backdrop has been challenging, our strategy positions FGEN to deliver sustainable income and NAV growth without reliance on new fundraising.

“Looking ahead, we are confident in our portfolio’s combined ability to deliver long-term predictable income for investors alongside attractive upside potential from our growth assets. We remain optimistic about the structural drivers underpinning the green economy.

“We continue to be fully committed, alongside our Investment Manager, to closing the discount to NAV and ensuring that FGEN’s share price more accurately reflects the intrinsic value of its portfolio.”

Summary of results:

Resilient Earnings and NAV :

•   NAV per share of 104.7 pence, delivering positive NAV total return for the period of 2.0% after payment of dividends.

•   Annualised NAV total return of 7.2% since IPO.

•   Company remains on track to deliver the full year dividend target of 7.96 pence, representing a yield of 12% on the share price at the date of this report.

Strong operational performance:

•   Strong operational performance with assets generating dividend cover of 1.22x in the period, after amortisation of project-level debt facilities.

•   Company remains on track to maintain or improve operational performance over the remainder of the financial year.

•   Generation +0.5% over budget¹, with anaerobic digestion facilities continuing to perform particularly well.

Growth assets already delivering NAV uplift:

•   CNG Fuels growing truck numbers and maintaining profitability.

•   Rjukan aquaculture now fully operational, after successfully delivering its first trout harvest in the period.

•   The Glasshouse continues to onboard new customers and targets being cash flow breakeven later this year.

1.  After accounting for the anticipated recovery of downtime from operator guarantees and insurances