20 December 2023

GRESHAM HOUSE RENEWABLE ENERGY VCT 1 PLC

(the "Company", the "VCT 1"))

Statement regarding Investment Advisor

The Board of Gresham House Renewable Energy VCT 1 plc notes the announcement from Gresham House plc ("Gresham House") that the scheme of arrangement, published on 4 August 2023, to implement the acquisition of Gresham House by Seed Bidco Limited pursuant to Part 26 of the Companies Act 2006 ("Scheme") has become effective on 19 December 2023.

The Scheme implements the terms of the recommended cash offer of Seed Bidco Limited, a newly incorporated entity formed by funds advised by Searchlight Capital Partners, L.P. and its affiliates, for the entire issued share capital of Gresham House (the "Acquisition").

The Company's Investment Advisor is Gresham House Asset Management Limited (the "Investment Advisor"), which is wholly owned by Gresham House.

The Board of the Company is not currently expecting any change to the relationship between the Company and the Investment Advisor, and has been informed that the Gresham House leadership team and all key individuals that currently manage the Company will remain in place.

LEI: 213800IVQHJXUQBAAC06

ENDS

For further information, please contact:

Gresham House Asset Management                      renewablevcts@greshamhouse.com

Investor Relations                                                       Tel: 020 3875 9860

JTC (UK) Limited                                                       GreshamVCTs@jtcgroup.com

Company Secretary                                                     Tel: 020 3846 9774