Portfolio Update

Premier Energy and Water Trust PLC announces that at close of business on 30
September 2014 its ten largest investments were as follows:

                               % of total assets

OPG Power Ventures                           9.7

Renewable Energy Generation                  6.5

China Power Intl. Develop                    4.6

Huaneng Power International                  3.9

Ecofin Water & Power Conv 6.00%              3.6

SSE                                          3.4

GDF Suez                                     3.3

Tenaga Nasional Berhad                       3.2

Enersis                                      3.1

Fortune Oil                                  3.1

At close of business on 30 September 2014 the total net assets of Premier
Energy and Water Trust PLC amounted to £76 million. The sector breakdown and
geographical allocation were as follows:

Sector Breakdown:

Electricity                             51.1 %

Multi Utilities                         21.9 %

Water & Waste                            7.3 %

Gas                                      6.4 %

Cash/Net Current Assets                  0.9 %

Renewable Energy                        12.4 %

Total                                  100.0 %

Geographical Allocation:

Europe (excluding UK)                    6.0 %

China                                   21.2 %

North America                           10.1 %

Global                                   9.2 %

Asia (excluding China)                  17.9 %

United Kingdom                          17.0 %

Latin America                           10.2 %

Cash/Net Current Assets                  0.9 %

Australasia                              1.3 %

Eastern Europe                           3.2 %

Middle East                              3.0 %