Update on discussions with bondholders

21 Mar 2023 18:21 CET

Reference is made to the update issued by Alternus Energy Group Plc (OSE: ALT)
(“Alternus” or the “Company”) on 9 March 2023 regarding the compliance report
for its wholly owned subsidiary, Solis Bond Company DAC (“Solis”), for the year
ended 31 December, 2022 and the discussions related to temporary waivers of the
financial covenants in with a representative group of the bondholders in Solis’
FRN senior secured EUR 200,000,000 green bonds 2021/2024 (ISIN NO0010914914).

The Company and Solis are pleased to announce that the parties have made good
progress in their discussions and that main terms of the temporary waivers have
been agreed in principle. The Company expects to finalise the discussions with
the group of bondholders over the next few days, and that a notice for a written
resolution with the proposed terms of the temporary waivers can be issued to all
bondholders.

About Alternus Energy Group Plc
Alternus Energy Group Plc is an international vertically integrated independent
power producer (IPP). Headquartered in Ireland, and listed on the Euronext
Growth Oslo, the Company develops, installs, owns, and operates midsized utility
scale solar parks. The Company also has offices in Rotterdam and America.
Alternus Energy Group Plc aims to own and operate over 3.5 gigawatts of solar
parks by the end of 2025. For more information visit www.alternusenergy.com.

Forward Looking Statements: Certain information contained in this announcement,
including any information on the Company’s plans or future financial or
operating performance and other statements that express the Company’s
management’s expectations or estimates of future performance, constitute
forward-looking statements. When used in this press release, words such as
“anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,”
“may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,”
“would” and similar expressions, as they relate to us or our management team,
identify forward-looking statements. Such forward-looking statements are based
on the beliefs of management, as well as assumptions made by, and information
currently available to, the Company’s management. Such statements are based on a
number of estimates and assumptions that are subject to significant business,
economic and competitive uncertainties, many of which are beyond the control of
the Company. The Company cautions that such forward-looking statements involve
known and unknown risks and other factors that may cause the actual financial
results, performance or achievements of the Company could differ materially from
the Company’s estimated future results, performance or achievements expressed or
implied by the forward-looking statements. The Company undertakes no obligation
to update these statements for revisions or changes after the date of this
release, except as required by law.

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