Alternus Energy Group

Capital/Financing Update • Mar 1, 2022

Contemplated Tap Issue

Contemplated Tap Issue

Oslo, 1 March 2022 - Alternus Energy Group Plc, through its wholly owned subsidiary, Solis Bond Company Designated Activity Company (OSE: SBCDAC01 ESG), is contemplating a tap issue of EUR 10 million of its senior secured green bond issue (ISIN: NO0010914914). The current outstanding amount is EUR 130 million and the borrowing limit is EUR 200 million.

The net proceeds from the contemplated bond tap Issue is expected to be used to fund the acquisition of a portfolio of Polish solar parks.

Further information on the contemplated tap issue and acquisitions can be viewed in the attached presentation.

Arctic Securities has been retained as sole manager for the contemplated transaction.

For more information, please contact Vincent Browne, Chairman and CEO on:

E: vb@alternusenergy.com

T: +353 86 402 9994

This press release is neither an offer to sell nor a solicitation of an offer to buy any of the bonds or any other security of Alternus Energy Group PLC. The bonds have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the Securities Act), or any state securities laws. Unless so registered, the bonds may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act and applicable state securities laws.