EAM Solar

AGM Information • Nov 25, 2015

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

EAM Solar ASA: Minutes from the Extraordinary General Meeting

The Extraordinary General Meeting was held in EAM Solar ASA, org.no. 996 411 265, on Friday the 25^th of November 2015, at 17:00 at Carneige offices in Oslo.

Chairperson Ragnhild M. 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.

Overview	Shares	%	Share holders
Total shares	5070000	100,0000%	164
Voting shares	2806147	55,3481%	18
Non-voting shares	2 263 853	44,6519%	146
Shares present	173 955	3,4311%	5 1
Shares present by proxy	2632192	51,9170%	13
Shareholders not present	2 263 853	44,6519%	146

Agenda:

Election of a chairperson and a person to co-sign the minutes $\mathcal{I}$

Ragnhild Wiborg was elected as chairman of the meeting and Bjørn Wicklund was elected to cosign the minutes.

Passed unanimously by the shares present.

Approval of the notice and the agenda $\overline{2}$

The notice and the agenda were approved.

Passed unanimously by the shares present.

Decision on the split of EAM Solar ASA $3.$

The general meeting authorized the board of directors to carry out a split of the Company as described in the notice to the general meeting. If the board of directors resolves to carry out the split, this shall be done by way of a distribution of shares in EAM Solar Italy Holding Srl on the basis of the dividend authority set out in item 4 below.

This resolution was passed with $2,592,177$ votes representing 92.4% of the share present voting in favour, 213,970 votes representing 7.6% of the shares present abstained from voting and none voted against.

$\mathbf{1}$

$\overline{2}$

Decision on distribution of the shares in EAM Solar Italy Holding Srl $\overline{4}$

• The board of directors is authorized pursuant to the Public Limited Companies Act § 8- $(i)$ $2(2)$ to approve the distribution of dividends based on the Company annual accounts for 2014.
• The authority may only be used to approve the distribution of dividends in the form of $(ii)$ distribution of shares in EAM Solar Italy Holding Srl.
• The authority shall remain in force until the annual general meeting in 2016. $(iii)$

This resolution was passed with 2,592,177 votes representing 92.4% of the share present voting in favour, 213,970 votes representing 7.6% of the shares present abstained from voting and none voted against.

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

Ragnhild M Wiborg

Bjørn Wicklund