EAM Solar

Quarterly Report • Nov 16, 2021

EAM Solar ASA: Q3 2021 Financial Report

EAM Solar ASA: Q3 2021 Financial Report

HIGHLIGHTS Q3 2021

EBITDA for the quarter was minus EUR 568 thousand and accumulated for the year minus EUR 1 387 thousand. Normal operations, adjusted for legal costs resulted in an EBITDA of EUR 187 thousand for the quarter and EUR 258 thousand for the year, equivalent to an adjusted EBITDA margin of 48 per cent and 25 per cent respectively.

Cost of operations and SG&A were EUR 58 thousand and EUR 143 thousand for the quarter and EUR 164 thousand and EUR

608 thousand accumulated for the year respectively.

Legal costs were EUR 755 thousand in the quarter and EUR 1 645 thousand accumulated for the year.

The Supreme Court of Italy held a hearing on 6 October 2021 on the appeal of the acquittal sentence decided by the

Milan Criminal Court of Appeal issued 20 January 2021. The Supreme Court of Cassation decided to annul the judgment

of acquittal of the indicted by the Milan Court of Appeal, and consequently the criminal proceedings will return to the Milan Criminal Court of Appeal for new proceedings.

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.