11 January 2022

JLEN Environmental Assets Group Limited

(the "Company")

Appointment of Foresight Group LLP as AIFM

The Company announces that it has today appointed its investment adviser, Foresight Group LLP ("Foresight Group"), as its external alternative investment fund manager ("AIFM") with discretionary investment management authority for the Company. Foresight Group has been appointed pursuant to an investment management and AIFM agreement (the "Investment Management Agreement") in substitution for, and on materially the same commercial terms as, the existing investment advisory agreement between the Company and Foresight Group which has now been terminated.

Until now, the Company has been a self-managed alternative investment fund which took its own investment management decisions on the basis of advice from Foresight Group. As discretionary investment manager, Foresight Group LLP will take investment management decisions on behalf of the Company, subject to the terms of the Investment Management Agreement. The fees payable by the Company to Foresight Group under the new Investment Management Agreement remain unchanged.

As AIFM, Foresight Group will remain subject to the Company's published investment policy and the supervision of the Company's board of directors (the "Board"). The Board also retains overall responsibility for the Company's activities, including reviewing its investment activity, performance, business conduct and policy. In addition, in accordance with the terms of the Investment Management Agreement, certain investment decisions are reserved to the Board, including in respect of very large investments, those which would involve taking the Company near to the limits of its available borrowing facilities, those involving the Company investing in new geographies or technologies and those which may cause reputational risk to the Company.

In connection with Foresight Group's appointment as AIFM, the Company has appointed NatWest Trustee and Depositary Services Limited ("NatWest") as its depositary. NatWest will perform the functions required of a depositary of an alternative investment fund that is incorporated outside the European Economic Area, such as the Company, which has an EEA entity, such as Foresight, as its AIFM.

The Company will continue to retain an administrator and a registrar in Guernsey.

For further information, please contact:

About JLEN

JLEN's investment policy is to invest in a diversified portfolio of Environmental Infrastructure. Environmental Infrastructure is defined by the Company as infrastructure assets, projects and asset-backed businesses that utilise natural or waste resources or support more environmentally friendly approaches to economic activity, support the transition to a low carbon economy or which mitigate the effects of climate change. Such investments will typically feature one or more of the following characteristics:

·    long-term, predictable cash flows, which may be wholly or partially inflation-linked;

·    long-term contracts or stable and well-proven regulatory and legal frameworks; or

·    well-established technologies, and demonstrable operational performance.

JLEN's aim is to provide investors with a sustainable, progressive dividend per share, paid quarterly and to preserve the capital value of the portfolio over the long term on a real basis. The target dividend for the year to 31 March 2022 is 6.80¹ pence per share. The dividend is payable quarterly.

Further details of the Company can be found on its website www.jlen.com.

 LEI: 213800JWJN54TFBMBI68

⁽¹⁾ These are targets only and not profit forecasts.  There can be no assurance that these targets will be met or that the Company will make any distributions at all.