EAM Solar

Earnings Release • Aug 18, 2020

EAM Solar ASA: Q2 2020 Financial Report

EAM Solar ASA: Q2 2020 Financial Report

HIGHLIGHTS Q2 2020

EBITDA for the quarter was minus EUR 100 thousand and accumulated for the year minus EUR 277 thousand. Normal operations, adjusted for legal costs resulted in an EBITDA of EUR 41 thousand for the quarter and EUR 17 thousand for the year, equivalent to an adjusted EBITDA margin of 10 per cent and 2 per cent, respectively.

Cost of operations and SG&A were EUR 44 thousand and EUR 303 thousand for the quarter and EUR 90 thousand and EUR 578 thousand accumulated for the year respectively.

Legal costs were EUR 141 thousand in the quarter and EUR 294 thousand accumulated for the year respectively.

EAM Solar ASA has obtained the necessary documents from the criminal court in Italy to enforce the provisional damages award of EUR 5 million towards Aveleos in Luxembourg. Aveleos has appealed the award and a hearing has been scheduled at 19 August 2020 in Milano on the matter of the provisional award.

For further information, please contact: Viktor E Jakobsen, CEO, phone +47 9161 1009, viktor@eam.no

About EAM Solar ASA: EAM Solar ASA is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants in Italy. The plants are operating under long-term sales contracts. In addition,

the Company's business is lawsuits in relation solar power plants.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.