Riverstone Energy : DCRC Investment - Small Related Party Transaction

LEI: 213800HAZOW1AWRSZR47

18 March 2021

Riverstone Energy Limited

Investment in Decarbonization Plus Acquisition Corporation III - Small Related Party Transaction

Riverstone Energy Limited ('REL' or the 'Company') is pleased to announce the investment of up to $0.6 million in Decarbonization Plus Acquisition Corporation III ('DCRC'), a special purpose acquisition vehicle sponsored by an affiliate of REL's investment manager. DCRC seeks to capitalise on the Riverstone platform to identify, acquire and operate a business in industries that may provide opportunities for attractive risk-adjusted returns in one of the multiple sectors that may advance the objectives of global decarbonization. This includes the energy and agriculture, industrials, transportation and commercial and residential sectors.

David Leuschen and Pierre Lapeyre, co-founders of Riverstone Holdings LLC, who were directors of REL until October 2020 and therefore are considered related parties of the Company for the purpose of the Listing Rules, have also invested in DCRC, thus making REL's investment in DCRC a small related party transaction. David Leuschen and Pierre Lapeyre also invested in Decarbonization Plus Acquisition Corporation II ('DCRN'), into which, as previously disclosed, REL invested $0.6 million. Due to the aggregation of REL's investment in DCRC and DCRN, as they were both alongside the same related parties within a twelve month period, the DCRC investment falls within Listing Rule 11.1.10R.

About Riverstone Energy Limited:

REL is a closed-ended investment company that invests exclusively in the global energy industry across all sectors. REL aims to capitalise on the opportunities presented by Riverstone's energy investment platform. REL's ordinary shares are listed on the London Stock Exchange, trading under the symbol RSE. REL has 12 active investments spanning decarbonisation, oil and gas, renewable energy and power in the Continental U.S., Western Canada, Gulf of Mexico and Europe.

For further details, see 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) is incorporated into, or forms part of, this announcement.

Media Contacts

For Riverstone Energy Limited:

Jingcai Zhu

[phone]