Completion of sale of investment in Onyx Power

Summary by AI ^BETAClose X

Riverstone Energy Limited has completed the sale of its entire stake in Onyx Power to ResInvest Group, receiving net cash proceeds of approximately €43 million ($51 million). This transaction, combined with prior proceeds of $121 million, yields a Gross Multiple of Invested Capital (MOIC) of 2.88x on the initial $60 million investment, reducing to 2.81x after an adjustment payment. Following the sale and an approximate $3.8 million adjustment payment to its investment manager, the company now holds $64 million (£47 million) in net cash. In line with its managed wind-down policy, Riverstone Energy Limited intends to return a portion of these funds to shareholders through a compulsory share redemption.

Disclaimer*

Riverstone Energy Limited

02 February 2026

LEI: 213800HAZOW1AWRSZR47

2 February 2026

Riverstone Energy Limited (the "Company" or "REL")

Completion of sale of investment in Onyx Power

Further to the Company's announcement on 21 October 2025, the Company is pleased to announce the completion of the sale of 100% of its interest in Onyx Power to ResInvest Group.

The Company has today received net sale cash proceeds of approximately €43 million, or $51 million based on the prevailing EUR/USD FX rate of 1.19. Inclusive of previously realised proceeds of approximately $121 million, this transaction represents a Gross MOIC of 2.88x on the Company's investment in Onyx Power of $60 million, which would reduce to 2.81x after the adjustment payment noted below.

Following completion of the sale and the adjustment payment noted below, the Company holds net cash of approximately $64 million or £47 million, based on the prevailing GBP/USD FX rate of 1.37. In accordance with the managed wind-down investment policy adopted by the Company on 22 August 2025, the Company expects to return a portion of this amount to shareholders, net of reasonable provisions for running costs in the expected managed wind-down period, by way of a pro rata compulsory redemption of ordinary shares. Further details will be announced by the Company shortly.

In accordance with the terms of its investment management agreement, an adjustment payment will shortly become payable from REL to RIGL Holdings, LP (the Company's investment manager) equal to 20 times one quarter of 1.5 per cent. of the Onyx Power sale proceeds, equal to approximately $3.8 million.

For further details, see www.RiverstoneREL.com

Neither the contents of Riverstone Energy Limited's website nor the contents of any website accessible from hyperlinks on the websites (or any other website) is incorporated into, or forms part of, this announcement.

Media Contacts

For Riverstone Energy Limited: LPRelations@RiverstoneLLC.com

Deutsche Numis - Corporate Broker:

Hugh Jonathan

Matt Goss

+44 (0) 20 7260 1000

Ocorian Administration (Guernsey) Limited - Company Secretary:

Birgitte Horn

OAGLCoSec@ocorian.com

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