EAM Solar

Legal Proceedings Report • Jul 16, 2021

EAM Solar ASA: Legal status update

EAM Solar ASA: Legal status update

16 July 2021

ENFO25 FIT reinstated by the Administrative Court of Lazio

The Administrative Court of Lazio (TAR) has decided in a court ruling on the 12th of July that the termination decision made by GSE on the FIT contract for ENFO25 in September 2019 is invalid and consequently cancelled.

GSE has not paid the FIT tariff for the electricity delivered by ENFO 25 since July 2019, and currently owe approximately EUR 700 000 in unpaid electricity bills to ENFO 25.

The Administrative Court also ordered GSE to cover the legal costs of EAM Solar ASA.

How and when GSE will restore their contractual obligations is not yet determined. We will revert with more information as soon as this is available.

Commencement of criminal proceedings against Enovos Luxembourg SA in Oslo District Court

Enovos Luxembourg SA has been summoned by the Oslo District Court for the commencement of criminal proceedings. The law firm Thommessen, representing Enovos Luxembourg SA, has been given until the 15th of September to respond to the criminal indictment.

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.