TRIG Completes 265,000 Share Buyback at 74.57p, Boosting Treasury Holdings Amid Ongoing Capital Management

TRIG’s Ongoing Share Buyback Programme and Capital Management Approach

The Renewables Infrastructure Group Limited continues its structured share buyback programme, originally launched on 9 August 2024. The latest purchase on 17 July 2026 underscores TRIG’s commitment to enhancing shareholder value by repurchasing and retaining its own shares. This programme enables the company to optimize its capital structure and potentially increase earnings per share by reducing the number of shares outstanding over time.

The acquisition of 265,000 shares at a weighted average price of 74.5698 pence reflects TRIG’s active engagement in the open market during this period. The share prices during the transaction ranged narrowly between 74.40 pence and 74.70 pence, indicating stable market conditions. All shares were acquired in a single trading session on 17 July 2026, demonstrating a focused and deliberate capital allocation decision by TRIG’s board.

Treasury Shares and Their Role in TRIG’s Capital Structure

After this transaction, TRIG’s treasury shareholding totals 153,442,374 shares. The company plans to hold these shares as treasury stock rather than cancelling them immediately. Holding treasury shares provides TRIG with flexibility to manage its capital structure, as these shares can be cancelled later, used for employee share schemes, or retained as part of its broader capital management strategy. This approach preserves options for future adjustments without committing to a permanent reduction in share count.

The announcement confirms that all shares acquired in this transaction will remain as treasury shares. Unlike immediate cancellation, this preserves the company’s ability to respond to future business needs, financial conditions, or shareholder return opportunities. The substantial treasury holding highlights the scale of TRIG’s buyback programme since August 2024.

Voting Rights Denominator and FCA Disclosure Compliance

The total number of voting rights in TRIG, excluding treasury shares, is 2,332,520,512 as of 17 July 2026. This figure complies with the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules and serves as the denominator for shareholders to determine notification obligations regarding their shareholdings or changes in interests. Under FCA rules, significant shareholders crossing certain voting rights thresholds must publicly disclose their positions.

Excluding treasury shares—which carry no voting rights—from the denominator ensures an accurate count of shares with active voting rights. This transparency provides shareholders and analysts with a consistent basis for assessing disclosure requirements. Any future buyback activity affecting the voting rights denominator will be publicly disclosed.

Transaction Execution via Investec Bank plc on the London Stock Exchange

The entire purchase of 265,000 shares was executed through Investec Bank plc on the London Stock Exchange (ticker XLON) at 16:35 BST on 17 July 2026. The shares were acquired at the weighted average price of 74.5698 pence each. Utilizing a major investment bank as intermediary ensures compliance with market regulations and transparency in price discovery.

The transaction was conducted in accordance with the Market Abuse Regulation (EU) No 596/2014, with full disclosure of trade details including venue, timing, volume, and price. Concentrating the entire buyback into a single execution reflects a coordinated approach, potentially leveraging favorable market conditions. The London Stock Exchange remains TRIG’s primary listing venue.

Overview of TRIG’s Business Model and Renewable Energy Portfolio

The Renewables Infrastructure Group Limited is an infrastructure investment company specializing in renewable energy assets. Its business model focuses on acquiring, managing, and holding interests in renewable energy generation infrastructure across various regions. TRIG benefits from long-term contracted cash flows, delivering stable and predictable revenues to shareholders. The company emphasizes diversified technology exposure, geographic spread, and long-term power purchase agreements or other revenue-secure mechanisms.

TRIG’s capital structure and buyback programme operate within the context of its extensive renewable energy asset portfolio. Revenue streams include electricity sales, capacity payments, and availability-based income. The largely inflation-linked and recurring cash flows provide financial flexibility to pursue share buybacks while maintaining distributions and funding capital investments. The buyback programme forms a key part of TRIG’s broader capital management and shareholder return strategy.

Market Valuation and Pricing Details of July 2026 Buyback

The shares were repurchased at a weighted average price of 74.5698 pence, with transaction prices ranging from 74.40 pence to 74.70 pence. This tight 30 basis point range reflects stable market conditions during the buyback on 17 July 2026. The price paid aligns with the board’s assessment of fair value, indicating that the buyback represents a prudent capital allocation benefiting remaining shareholders.

The consistent pricing over the brief execution window suggests sufficient liquidity to absorb the 265,000 shares without significant market impact. Buyback programmes are typically pursued when shares trade below intrinsic value or cash flow potential, supporting accretive shareholder returns.

Commitment to Regulatory Compliance and Transparency

This announcement complies with Article 5(1)(b) of the Market Abuse Regulation (EU) No 596/2014, underscoring TRIG’s dedication to transparency in its share repurchase activities. Detailed disclosures of trade venue, timing, volume, and pricing ensure full market visibility of the buyback execution.

Professional advisers, including Investec Bank plc as the executing intermediary, maintain high standards of regulatory adherence and execution quality. TRIG will continue to provide regular updates on buyback progress to shareholders and the market as required.

Sector Trends: Infrastructure Company Buybacks in Renewables

Share buyback programmes have gained traction among listed infrastructure investment companies as a means to manage capital and enhance shareholder returns, especially when cash generation exceeds operational and distribution needs. For TRIG, the stable, long-term cash flows from renewable assets make buybacks an effective capital allocation tool alongside dividend payments.

The renewable energy infrastructure sector benefits from strong investor interest driven by global net zero commitments, energy security priorities, and fossil fuel transition. Companies like TRIG with diversified renewable portfolios enjoy favorable capital access, enabling simultaneous growth investments and shareholder returns. The buyback programme is a key component of TRIG’s comprehensive capital management framework designed to optimize shareholder value while preserving financial strength and operational flexibility.

Ongoing Shareholder Communication and Programme Transparency

TRIG remains committed to transparency by providing regular regulatory disclosures on its share buyback programme. Future repurchases will be reported in line with FCA and Market Abuse Regulation requirements. The company will update shareholders on treasury share totals and voting rights denominators following significant transactions, ensuring accurate tracking of capital structure changes and disclosure obligations.

Contact details for enquiries about the buyback programme are available through TRIG’s advisers, including InfraRed Capital Partners Limited (investment manager), Brunswick (financial communications), and banking and administrative service providers. For comprehensive details on the programme’s scope and objectives, shareholders should refer to the original announcement dated 9 August 2024. Regular updates will continue as mandated by regulatory frameworks.