EAM Solar

AGM Information • May 23, 2017

EAM SOLAR ASA (+47) 241 15 796 Dronningen 1 N-0287 Oslo, NORWAY mail@eamsolar.no www.eamsolar.no

EAM Solar ASA Minutes from the Annual General Meeting 2017

The Annual General Meeting was held in EAM Solar ASA, org.no. 996 411 265, on Tuesday the 23rd of May 2017, at 14:00 CET at the Company's offices, Dronningen 1, Oslo.

The chairperson of the Board of Directors, Ragnhild Wiborg, opened the meeting.

Record of attending shareholders:

Before the opening of the meeting the record of attending shareholders where made. The attending shareholders overview can be seen in the matrix below. Based on the number of attending shareholders the annual general meeting is empowered to conduct and decide on all proposals made by the Board of Directors and the Nomination Committee.

Overview	Shares	%	Share holders
Total shares	5070000	100,000%	455
Voting shares	2 6 5 9 1 7 6	52,449%	$\mathbf Q$
Non-voting shares	2410824	47,551%	446
Shares present	11701	0,231%	$\overline{2}$
Shares present by proxy	2 647 475	52,218%
Shareholders not present	2410824	47,551%	446

Agenda:

Opening of the meeting $\mathbf{1}$

Ragnhild Wiborg opened the meeting.

Election of a chairperson and a person to co-sign the minutes $2.$

Ragnhild Wiborg was elected as chairperson for the meeting. Viktor E Jakobsen was elected to cosign the minutes.

Approval of the notice and the agenda 3.

The notice and the agenda were approved.

Approval of the annual accounts and directors' report of EAM Solar ASA and the EAM $\ddot{4}$ Solar group for 2016, including allocation of the result of 2016 as well as consideration of the statement on corporate governance

The Annual accounts including Directors report, allocation of results and the statement of corporate governance were approved.

Approval of the remuneration of the Company's auditor 5.

The Annual General Meeting passed the following resolution:

The auditor's fees for 2016, as set out in the notes to consolidated financial statements included in the annual report for 2016, are approved.

6. Determination of the remuneration of the members of the Board of Directors

The Annual General Meeting passed the following resolution as recommended by the Nomination Committee:

For the period from the Annual General Meeting in 2017 until the Annual General Meeting in 2018 the members of the Board of Directors will receive the following remuneration:

• Chairperson of Board of Directors: NOK 400,000
• Member of the Board of Directors: NOK 250,000

Determination of the remuneration of the members of the Nomination Committee $7.$

******

The Annual General Meeting passed the following resolution as recommended by the Nomination Committee:

For the period from the Annual General Meeting in 2017 until the Annual General Meeting in 2018 the members of the Nomination Committee will receive the following remuneration:

• Chairman of the Nomination Committee: NOK 25,000
• Members of the Nomination Committee: NOK 15,000

All resolutions by the annual general meeting were passed unanimously.

As there were no further matters on the agenda the meeting was closed.

Ragnhild Wiborg

Refer E Jalalyou