EAM Solar

M&A Activity • Jul 16, 2014

EAM Solar ASA: P31 partial transfer executed

EAM Solar ASA: P31 partial transfer executed

EAM: P31 partial transfer executed

16(th) of July 2014

Reference is made to the stock exchange notice issued the 26(th) of June 2014.

On the 15(th) of July EAM Solar ASA executed the transfer of the shares of 7 out

of a total of 8 companies that comprises the P31 portfolio, effectively bringing

the power plants owned by the SPV's under EAM's operational control.

The 7 companies represents 21 of the total 31 power plants in the P31 Portfolio

equivalent to 20,5MW out of a total of 30,4MW.

A partial closing was decided and executed by EAM Solar and the seller due to

matters remaining to be resolved concerning the last bank waiver affecting the

last SPV to be purchased, which comprise 10 power plants.

Since these matters not is expected to be determined before September/October

the parties decided to conduct a partial transfer of the companies not affected

by this bank waiver.

The partial transfer has been executed on the premise that all the 31 purchased

power plants are transferred as agreed.

The amended conditions for the purchase of the P31 portfolio as described in the

stock exchange notice the 26(th) of June remains unchanged. However, any

material changes to the lending conditions relating to the last bank waiver

beyond the already assumed changes will result in further reduction in the

purchase price.

Since the transfer of control of the 7 companies took place the 15(th) of July,

the accounts of EAM Solar ASA will included the 21 power plants from this date.

EAM will issue the 2(nd) quarter report shortly and the transaction and revised

acquisition parameters will be presented in detail in the 2(nd) quarter report.

For information, please contact:

Viktor E Jakobsen, Executive Director, phone +47 9161 1006, viktor@eamsolar.no

Audun W. Iversen, CEO, phone +47 916 16 250, audun@eamsolar.no

About EAM Solar:

EAM Solar ASA is a utility company that acquires and operates solar power

plants. Following the P31 acquisition, the Company owns 35 solar PV power plants

in Italy with a capacity of 37MW. The plants are operating under long-term sales

contracts. EAM Solar acquires power plants that are commissioned, connected to

the grid and in power production at the time of financial close with the

geographical focus on Europe.

This information is subject of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#1826830]