Gore Street Energy Storage Fund Plc · LSE:GSF
Gore Street Energy Storage Fund — Proxy Contest (August 2025)
12 slides from Gore Street Energy Storage Fund's proxy contest presentation, Aug 6, 2025
Slide 1: RM Funds Special Presentation regarding Gore Street Energy Storage Fund PLC
Special Presentation RM Funds Special Presentation regarding Gore Street Energy Storage Fund PLC 9am, Wednesday 6th August 2025 Institutional Investors Only
Slide 2: Disclaimer
Disclaimer Disclaimer All information and opinions contained in this document has been provided by RM Capital Markets Limited ("Company"), which is authorised and regulated by the Financial Conduct Authority, and have not been independently verified as to their accuracy by either the Company or any
Slide 3: Speakers
Speakers Investment Strategy Leadership Pietro Nicholls Niall O’Connor Portfolio Manager, Investment Committee Portfolio Manager Member ▪ Lead Portfolio Manager for the SVS RM Defensive ▪ Lead Portfolio Manager for the VT RM Alternative Capital Fund, a fund with a 15-year track record. Income Fund,
Slide 4: Introduction: A Track Record of Responsible Stewardship
Introduction: A Track Record of Responsible Stewardship Our Commitment as Long-Term Shareholders Engagement Timeline ▪ RM Funds has been a shareholder in Gore Street Energy ▪ Dec 2024 – Raised concerns over dividend cuts, geographic Storage Fund plc (“GSF” or the “Company”) since 2021. sprawl, and i
Slide 5: A Campaign Rooted in Facts and Focused on Fixing Governance
A Campaign Rooted in Facts and Focused on Fixing Governance What This Campaign Is - and Is Not The High-Level Observations ▪ We are not seeking to run the assets - that is the job of a ▪ Share price down c.50% over 3 years. competent asset manager. ▪ Discount to NAV c.40% – despite a fully energised
Slide 6: The Platform Is Built - Now It Must Deliver
The Platform Is Built - Now It Must Deliver Operational Platform UK BESS Investment Trust TOTAL RETURN (YTD) 80.00% ▪ 100% energised BESS assets, grid-connected and revenue- 70.00% generating. 60.00% Sector driven M&A, Drax PLC and 50.00% Foresight Group PLC bids for HEIT Portfolio Complexity vs. Fo
Slide 7: Board-Backed Tactics vs Shareholder-Led Governance
Board-Backed Tactics vs Shareholder-Led Governance GSF “Strategy & Capital Allocation Plan” RM Funds: Supports A Strategic Review Governance: Governance: ▪ No Improved Governance Announced ▪ Nominate two independent candidates, unconnected with previous governance failures. ▪ Shareholders get to vot
Slide 8: The Shareholder Nominees
The Shareholder Nominees Brett Miller – Proposed Independent Director Ian Dixon – Proposed Independent Director Veteran investment trust director with deep expertise in fund Global infrastructure veteran with deep credit, structuring, and board- governance, wind-downs, and shareholder-led restructur
Slide 9: Recap: A Constructive Proposal, A Credible Path
Recap: A Constructive Proposal, A Credible Path ▪ This is a shareholder-led initiative grounded in logic, experience, and accountability ▪ The proposed changes are: ▪ Constructive ▪ Achievable ▪ Aligned with all shareholders ▪ Vote FOR RM Funds’ resolutions at the EGM (20 August, 1pm) ▪ DEADLINE for
Slide 10: Questions & Answers
Q&A Questions & Answers 10 RMFunds
Slide 11: Contact Information
Contact Information Investment Management Distribution Pietro Nicholls: 0203 697 1768 / pietro.nicholls@rm-funds.co.uk James Satterthwaite: 0131 603 7068 / james.satterthwaite@rm-funds.co.uk David Watts: +44 7402 810068 / david.watts@rm-funds.co.uk Head Office: 4th Floor, 7 Castle Street, Edinburgh,
Slide 12: Registered in Scotland No SC380707
Registered in Scotland No SC380707 Registered Office: 4th Floor, 7 Castle Street, Edinburgh, EH2 3AH RM Capital Markets Limited is authorised and regulated by the Financial Conduct Authority (Number 562209) 12
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