EAM Solar

Report Publication Announcement • Feb 28, 2023

EAM Solar ASA: Q4 2022 Financial Report

EAM Solar ASA: Q4 2022 Financial Report

HIGHLIGHTS Q4 2022

EBITDA for the quarter was minus EUR 477 thousand and accumulated for the year minus EUR 1 051 thousand. Normal operations, adjusted for legal costs resulted in an EBITDA of minus EUR 118 thousand for the quarter and EUR 27 thousand accumulated for the year, equivalent to an adjusted EBITDA margin of minus 54 per cent and 2 per cent respectively.

Cost of operations and SG&A were EUR 59 thousand and EUR 280 thousand for the quarter and EUR 244 thousand and EUR 950 thousand accumulated for the year respectively.

Legal costs were EUR 359 thousand in the quarter and EUR 1 078 thousand accumulated for the year.

On 31 January 2023 the Company announced the resignation of the Chair of the Board of Directors, Mrs. Ragnhild Wiborg. The resignation comes as consequence of her assuming the role as Chair of the Board of Directors in Energeia AS, the manager of the Company.

Given the limited amount of news in the fourth quarter, the Company has decided not to hold a company presentation. Both financial and legal development is thoroughly described in the report.

For further information, please contact:

Viktor E Jakobsen, CEO, 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.