EAM Solar

Legal Proceedings Report • Nov 30, 2023

EAM Solar ASA: Legal status update on timeline for the Milan criminal court proceedings

EAM Solar ASA: Legal status update on timeline for the Milan criminal court proceedings

30 November 2023

Today, 30 November 2023, the first hearing was conducted before the Fifth Section of the Court of Appeal of Milan in relation to the ongoing criminal case brought by the Italian State for subsidy fraud, and for contractual fraud against EAM Solar ASA.

The Criminal Court decided that the next hearing for substantive discussions will take place on 5 March 2024. Furthermore, the Court identified, as a target date, 20 March 2024 for hearing replies and for issuing its final decision in the criminal appeal procedure.

Reference is given to the stock exchange notice of 8 August and the third quarter report 2023. The Milan Chamber of Arbitration still intends to produce its final award in the matter between EAM Solar ASA and Aveleos SA by 26 January 2024.

For further information, please contact:

Viktor E Jakobsen, Chair, phone +47 9161 1009, viktor@eam.no

About EAM Solar ASA: EAM Solar ASA is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy. The plants are operating under long-term sales contracts. In addition, the Company's business is lawsuits in relation acquisition of solar power plants.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.