Alternus Energy Group

Related Party Transaction • Jun 25, 2021

Alternus Energy Group Plc: Primary insider notice

Alternus Energy Group Plc: Primary insider notice

Oslo, 25 June 2021:

VestCo Corp., a close associate of Vincent Browne, Chief Executive Officer and a director of Alternus Energy Group Plc (“Alternus”), has today, 25 June 2021, converted the total outstanding principal amount of a convertible promissory note held by him into 70,920 ordinary shares at a conversion price of NOK 28.43 per share. Following this transaction, Vincent Browne, partially through VestCo Corp., holds 4,318,954 shares in Alternus.

Please see the attached form of notification.

About Alternus Energy Group Plc

Alternus is a fast-growing pan-European vertically integrated independent power producer (“IPP”), headquartered in Ireland, with a focus on the midsized utility scale solar PV market in Europe. Alternus owns and operates a diverse portfolio of utility scale solar PV parks that connect directly to national power grids on long-term government contracts and/or Power Purchase Agreements with investment grade off-takers.

Alternus works closely with both local and international specialist development partners that each provide a constant pipeline of new projects for acquisition and construction by Alternus. Alternus aims to own and operate over 3.5 GWs of solar parks by the end of 2025 and to become one of the largest pan-European IPPs by the end of this decade. www.alternusenergy.com