SIXTH BINDING ACQUISITION AGREEMENT
DC Mount Signal 2 US Solar Fund Plc ( LON:USF (USD) / USFP (GBP) ) is pleased to announce it has executed binding agreements to acquire up to a 50% interest in a 200MW
DC operating solar plant located in the Imperial Valley of Southern California, Mount Signal 2 (MS2, the Project), for a total price of between $44 million and $46 million (the Transaction). The Transaction is structured in two tranches. Tranche One comprises an immediate acquisition of an initial 25% interest for a fixed price of $23m and is expected to be completed during the first quarter of 2021, subject to customary third-party consents. Tranche Two consists of an option for USF to acquire a further 25% interest for $22m subject to a performance-based adjustment mechanism which can adjust the price upwards or downwards by up to $1m. USF may exercise the Tranche Two option for up to 12 months from Tranche One completion, with Tranche Two comp