EAM Solar

Earnings Release • Feb 26, 2019

EAM Solar ASA: Q4 2018 Financial Report

EAM Solar ASA: Q4 2018 Financial Report

HIGHLIGHTS Q4 2018

EBITDA for the quarter was minus EUR 22 thousand and accumulated for the

year EUR 701 thousand. Normal operations, adjusted for legal costs resulted

in an EBITDA of EUR 252 thousand for the quarter and EUR 2 249 thousand accumulated

for the year, equivalent to an EBITDA margin of 32 per cent and 52 per

cent, respectively.

Cost of operations and SG&A were EUR 156 thousand and EUR 388 thousand for

the quarter and EUR 657 thousand and EUR 1 415 thousand accumulated for the

year respectively.

Legal costs were EUR 274 thousand in the quarter and EUR 1 548 thousand accumulated

for the year.

In Q4 2018 the trial in the Criminal Court of Milan concluded its evidentiary

phase and began with the closing arguments. The trial is expected to conclude

in the second quarter 2019.

In Q4 2018, final briefs were submitted and a final hearing was held in the Arbitration. EAM will have no active role in the Arbitration in Q1 2019. The tribunal is now deliberating, with an expected

judgement in the second quarter 2019.

On 21 November 2018 EAM Solar ASA was served with a notice that UBI Leasing

had applied to the court of Brescia for an injunction over EUR 6m of EAM

assets. The court of Brescia granted a preliminary injunction, only enforceable

upon further ruling. EAM challenged this decision and the first hearing in this

matter is scheduled for 30 May 2019.

On 31 December 2018 the summary judge of the defamation case regarding

EAM’s statements in the Q3 2017 report, issued an order dismissing Aveleos’

claim.

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 solar power plants.

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