REG - Riverstone Energy Ld - Sale of Shares in Solid Power, Inc.

Riverstone EnergyAnnouncement

22/09/2025 07:00

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RNS Number : 2175A  Riverstone Energy Limited  22 September 2025

LEI: 213800HAZOW1AWRSZR47

22 September 2025

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

Sale of shares in Solid Power, Inc.

The Company is pleased to announce that, on 19 September 2025, it disposed of
all of its shares in Solid Power, Inc. ("Solid Power"), a Louisville, Colorado
based producer of all solid-state batteries for electric vehicles.

The block sale of REL's shares generated approximately $25.9 million in gross
proceeds for the Company (excluding applicable taxes and expenses),
representing a significant increase on the net asset value of Solid Power as
at 30 June 2025 of $16.0 million.

Following completion of this transaction, the Company will hold net cash of
approximately $276 million. The Company expects to return a substantial
proportion 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, details of which are expected to be
announced in early October.

In accordance with the terms of its investment management agreement, REL paid
to RIGL Holdings, LP (the "Investment Manager") an adjustment payment in
respect of Solid Power shortly after the commencement of the managed
wind-down. That adjustment payment was calculated based on the net asset value
of Solid Power as at 30 June 2025. Accordingly, no further adjustment payments
will be due to the Investment Manager in respect of the sale of the Company's
shares in Solid Power.

For further details, see www.RiverstoneREL.com
(http://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) are incorporated into, or form part of, this announcement.

Media Contacts

For Riverstone Energy Limited: LPRelations@RiverstoneLLC.com
(mailto: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 (mailto:OAGLCoSec@ocorian.com)

 

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