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ER - Agenda for Shareholder Information Meeting - Attachment: EAM Solar AS Information meeting Agenda.pdf

Company: EAM Solar Date: 2025-06-04 Language: English Register to download

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## **INFORMATION MEETING EAM SOLAR AS**

**5. June 2025**

- 
- Q1'2025 results (Viktor E Jakobsen)

- Q1 Company Updates (Admin & Operation) (Erik Reisenfeld)
- Legal Status Update (Erik Reisenfeld)
- Annual General Meeting Agenda (Information) (Viktor E Jakobsen)

▪ Q&A

#### [eam\\_LOG](#page-0-0)O\_CUBE\_BLUE072.eps **Q1 2025 PRELIMINARY FINANCIAL RESULTS**

- Q1 power production 761 MWh, 26% below normal. Q1 power production approx. 15% of annual production due to seasonality.
- First quarter EBITDA negative with a EUR 165k. Cost of relisting process approx. EUR 100k in the quarter.
- First quarter legal costs mainly related to FIT reinstatement of ENFO 25.
- Cash position at the end of the quarter was EUR 455k.
- Group assets of NOK 131m with a book equity ratio of 6,7% (NOK 8,7m).

| EUR 000'            | Q1 2025 | Q1 2024 | 2024   | 2023   |
|---------------------|---------|---------|--------|--------|
| Revenues            | 233     | 210     | 1 283  | 993    |
| Cost of operations  | -56     | -58     | -198   | -237   |
| SG&A                | -230    | -114    | -931   | -743   |
| Legal costs         | -112    | -42     | -1 538 | -983   |
| EBITDA              | -165    | -3      | -1 384 | -971   |
| Depreciation        | -141    | -141    | -565   | -564   |
| EBIT                | -307    | -144    | -1 949 | -1 535 |
| Net financial items | -34     | 420     | 300    | 584    |
| Profit before tax   | -340    | 276     | -1 649 | -951   |
| Tax                 | -7      | -13     | -138   | -260   |
| Net income          | -347    | 263     | -1 786 | -1 211 |
| EbS:                | 0,00    | 0,04    | -0,01  | -0,18  |
| No. of shares (m)   | 152,99  | 6,85    | 152,99 | 6,85   |
| EBITDA adj.         | -53     | 39      | 154    | 12     |

- End of management agreement with Energeia AS.
	- o Establishment of EAM's own organization.
	- o Available resources.
- Re-listing of EAM to Euronext Growth.
	- o Purpose
	- o Status
- One-off costs
- Intesa Sanpaolo (formerly UBI Banca)
	- o No substantial developments to report
	- o Intesa has not yet served nor enforced the judgement

- Arbitration Award Follow-up:
	- o Damages award
	- o Pledge over shares of ENS 1
	- o Appeal Final Hearing: 11 March 2026

### [eam\\_LOG](#page-0-0)O\_CUBE\_BLUE072.eps **LEGAL STATUS (CRIMINAL COURT OF MILAN)**

- Hearing on 17 June 2025. Decision is Anticipated same-day.
- Reason for postponement
- Possible Outcomes:
	- 1. Full Acquittal of all charges
	- 2. Conviction Upheld on B) and D) only
	- 3. Appeal Ruling on F) overturned, but sent back to Court of Appeal
	- 4. Conviction reinstated on F) conclusively.
- Next steps

Annual general meeting to be held at Karenslyst Allé 10, 11th of June at 10:00 CET.

#### **Topics to be explained:**

- Share consolidation (20:1 Reverse Split)
- Authorization to the Board to increase the share capital

*NB: Remember to send proxies*

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# *Q & A session*

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