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PRESS RELEASE

Denham Capital completes sale of Nexif Energy’s portfolio to RATCH Group PLC

London — January 5, 2023 — Denham Capital is pleased to announce that it has completed a share sale
agreement with Thailand’s RATCH Group PCL for Nexif Energy’s portfolio of Australian and Southeast Asian
energy assets with an enterprise value in excess of US$1 billion. In August 2022, Denham agreed to sell
100% of its equity interests in a deal valuing the Nexif Energy portfolio at an enterprise value of US$1 billion
and equity value of US$605m. Nexif Energy and RATCH have partnered to form the Nexif RATCH Energy
Investments Pte. Ltd. joint venture to realize the inherent growth of the portfolio’s strong pipeline.

Denham Capital, the global energy transition investment firm, and Nexif, the renewables-focused power
development and investment company, founded Nexif Energy in August 2015 which Denham’s Sustainable
Infrastructure team seeded with Australian wind power assets. Nexif Energy aimed to acquire, develop,
construct and operate a clean energy-focused power generation and battery storage portfolio across
Australia and Southeast Asia while maintaining high environmental and social standards; Nexif Energy’s
renewable projects are essential to supporting climate change mitigation, which is one of the key
environmental objectives of the EU Taxonomy Regulations.

Capitalizing on the expertise, brand, and capital backing of its sponsors, Nexif Energy built an attractive
project portfolio with a total capacity of c. 2.7GW. Of this, nearly 500MW is currently operational or under
construction, increasing to c.1.3GW operational or under construction by 2023, and a further c.1.4GW at
various stages of development. In Australia, Nexif successfully combined renewable power and gas-fired
generation with battery storage offering the Australian market a firm power, “hybrid solution”.
Scott Mackin, Partner and Co-head of Sustainable Infrastructure at Denham Capital, commented:
“Our partnership with Nexif is a great example of Denham’s “Buy and Build” investment strategy, where
Denham and Nexif seeded the platform with assets and grew the business with a trusted management
company. Denham and Nexif worked tirelessly to create commercial solutions for technical issues, like
renewable power intermittency, which delivered premium value to the platform. We believe that hybrid
power solutions, like those deployed by Nexif Energy, are fundamental to the energy transition, as
economies grapple with the intermittency of renewables.”

About Denham Capital

Founded in 2004, Denham Capital is a global energy transition investment firm, having raised more than
$10 billion of capital across multiple sectors. Denham’s Sustainable Infrastructure business specializes in
mid-market infrastructure equity and debt investments that are central to enabling a global energy
transition. Having first invested in renewable power in 2007, Denham’s diverse investment team and
portfolio companies have acquired, developed, built, and exited businesses across the globe for over 15
years. This “business building” focus is core to Denham’s belief that value is created for investors by
acquiring and building sustainable infrastructure to help solve the $150 trillion 2050 net-zero challenge.
Denham Capital sponsors entrepreneurs, delivering the financial resources and industry expertise needed
to create and grow successful infrastructure and resource businesses. We seek to establish long term
partnerships with entrepreneurs and companies who share our vision for growth and value creation. Our
firm is built on a foundation of experience, fairness, economic rationale, flexibility and trust, and we bring
these values into every opportunity we pursue. We believe our tactical familiarity within our industry
sectors along with a disciplined approach centered around fairness and shared success make us an ideal
partner.

For more information, visit https://www.denhamcapital.com/
Contact Details
Denham Media Elizabeth Adams
+44 (0)7974 982 331
[email protected]