EAM Solar

Share Issue/Capital Change • Aug 29, 2017

EAM Solar ASA : Final results of rights issue

EAM Solar ASA : Final results of rights issue

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED

STATES, CANADA, AUSTRALIA, SOUTH AFRICA OR JAPAN OR ANY OTHER JURISDICTION IN

WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. OTHER RESTRICTIONS ARE

APPLICABLE. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THE PRESS RELEASE.

29 August 2017.

Reference is made to previous stock exchange announcements regarding the rights

issue (the "Rights Issue") by EAM Solar ASA (the "Company") of 1,250,000 new

shares with a nominal value of NOK 10 each (the "Offer Shares") at a

subscription price of NOK 24 per Offer Share.

The subscription period for the Rights Issue expired 28 August 2017 at 16:30

hours (CET). The final result shows that a total of 2,604,740 Offer Shares were

subscribed for during the subscription period. The Rights Issue has consequently

been oversubscribed by approximately 108 per cent.

The allocation of the Offer Shares is based on the allocation criteria set out

in the prospectus dated 8 August 2017 (the "Prospectus"). A total of 1,250,000

Offer Shares have been allocated. Approximately 1,161,721 Offer Shares have been

allocated to subscribers on the basis of exercised subscription rights.

Approximately 88,279 Offer Shares have been allocated to holders of subscription

rights as a result of oversubscription. No Offer Shares have been allocated to

subscribers without subscription rights.

Notices of allocation of Offer Shares and the corresponding subscription amount

to be paid by each individual subscriber are expected to be distributed today.

Payment for the allocated shares falls due on 31 August 2017 in accordance with

the payment procedures described in the Prospectus.

The Offer Shares may not be transferred or traded before they are fully paid and

the share capital increase pertaining to the Rights Issue has been registered

with the Norwegian Register of Business Enterprises. It is expected that the

share capital increase will be registered in the Norwegian Register of Business

Enterprises on or about 4 September 2017 and that the Offer Shares will be

transferred to the VPS accounts of the subscribers and admitted to trading on

the Oslo Axess on the same day.

Through the Rights Issue, the Company will receive proceeds of NOK 30 million

before the deduction of transaction costs. The Company's general meeting

resolved on 8 August 2017 to increase the share capital of the Company by NOK

12,500,000 through the issue of 1,250,000 Offer Shares in the Rights Issue.

Following registration of the share capital increase in the Norwegian Register

of Business Enterprises, the Company's share capital will be NOK 68,522,100,

divided into 6,852,210 shares, each with a nominal value of NOK 10.

Carnegie AS acts as manager of the Rights Issue.

For further queries, please contact:

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

About EAM Solar: EAM Solar 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.

This  information is subject of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

IMPORTANT INFORMATION:

This announcement is not an offer to sell or a solicitation of offers to

purchase or subscribe for securities of EAM Solar ASA. This announcement is not

a prospectus for the purposes of Directive 2003/71/EC (as amended, together with

any applicable implementing measures in any Member State, the "Prospectus

Directive"). Copies of this announcement may not be sent to jurisdictions, or

distributed in or sent from jurisdictions, in which this is barred or prohibited

by law. The information contained herein shall not constitute an offer to sell

or the solicitation of an offer to buy, in any jurisdiction in which such offer

or solicitation would be unlawful prior to registration, exemption from

registration or qualification under the securities laws of any jurisdiction. A

decision to invest in securities of EAM Solar ASA referred to in this

announcement should be based exclusively on the prospectus published by EAM

Solar ASA for such purpose.

This announcement and the information contained herein is not for publication or

distribution into the United States of America and should not be distributed or

otherwise transmitted into the United States or publications with a general

circulation in the United States. This announcement does not constitute an offer

or invitation to subscribe for or to purchase any securities in the United

States of America. The new shares referred to herein have not been and will not

be registered under the Securities Act or the laws of any state and may not be

offered or sold in the United States of America absent registration or an

exemption from registration under the U.S. Securities Act of 1933, as amended

(the "Securities Act"). There will be no public offering of the new shares in

the United States of America.

The information contained herein does not constitute an offer of securities to

the public in the United Kingdom. No prospectus offering securities to the

public will be published in the United Kingdom. This announcement is only being

distributed to and is only directed at (i) persons who are outside the United

Kingdom or (ii) to investment professionals falling within article 19(5) of the

Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as

amended, the "Order") or (iii) high net worth entities, and other persons to

whom it may lawfully be communicated, falling within article 49(2)(a) to (d) of

the Order (all such persons together being referred to as "relevant persons").

The new shares are only available to, and any invitation, offer or agreement to

subscribe, purchase or otherwise acquire such Shares will be engaged in only

with, relevant persons. Any person who is not a relevant person should not act

or rely on this announcement or any of its contents.

Any offer of securities to the public that may be deemed to be made pursuant to

this communication in any EEA Member State that has implemented Prospectus

Directive is only addressed to qualified investors in that Member State within

the meaning of the Prospectus Directive.

This publication may contain specific forward-looking statements, e.g.

statements including terms like "believe," "assume," "expect," "forecast,"

"project," "may," "could," "might," "will" or similar expressions. Such forward-

looking statements are subject to known and unknown risks, uncertainties and

other factors which may result in a substantial divergence between the actual

results, financial situation, development or performance of EAM Solar ASA and

those explicitly or implicitly presumed in these statements. Against the

background of these uncertainties, readers should not rely on forward- looking

statements. EAM Solar ASA assumes no responsibility to up-date forward-looking

statements or to adapt them to future events or developments.

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.