Riverstone Energy : Share Buyback Programme

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

LEI: 213800HAZOW1AWRSZR47

4 January 2021

Riverstone Energy Limited

Share Buyback Programme

As the next portfolio valuation date is 31 December 2020, Riverstone Energy Limited (the 'Company') announces that its £50.0 million share buyback programme has been paused until after the Company's Annual Report and Financial Statements for the year ended 31 December 2020 (the 'Annual Report') have been published in February 2021. Since the Company's announcement on 1 May 2020, 16,958,265 ordinary shares have been bought back at a total cost of approximately £49.2 million, such that there is £0.8 million remaining of the authorised £50.0 million. The Board intends to recommence the share buyback programme with Numis Securities Limited and J.P. Morgan Securities plcafter publication of the Annual Report.

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 9 active investments spanning oil and gas, renewable energy and power in the Continental U.S., Western Canada, Gulf of Mexico and Europe.

For further details, seewww.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]