Affiliate Solis Notice

03 Oct 2024 22:16 CEST

Reference is made to the updates issued by Alternus Energy Group Plc (OSE: ALT)
("AEG") and Solis Bond Company DAC ("Solis"), a former indirect wholly owned
subsidiary of Alternus Clean Energy, Inc. (NASDAQ: ALCE) ("ALCE"), a majority
owned subsidiary of AEG, on 9 March 2023, 21 March 2023, 27 March 2023, 18 April
2023, 24 April 2023, 16 May 2023, 19 September 2023, 16 October 2023, 18
December 2023, 3 January 2024 ,26 February 2024, 12 March 2024, 25 June 2024, 23
July 2024, 29 August 2024, 28 September 2024 and 3 October 2024 regarding the
waivers of the financial covenants and extension of the maturity date sought
from the bondholders in Solis’ FRN senior secured EUR 200,000,000 green bonds
2021/2024 (ISIN NO0010914914) (the "Bonds").

AEG and Solis announce that by mutual agreement, a trust controlled by the bond
trustee on behalf of the bondholders has taken full ownership of Solis (the
"Transfer"). The consummation of the Transfer completed on 3rd of October 2024,
and the AEG-appointed directors of Solis, Vincent Browne and John McQuillan have
resigned from their position as directors of Solis (and its applicable
subsidiaries). Moving forward, the bondholders through their ownership vehicle,
Solis Trustee Special Vehicle Limited will continue the operation of the
remaining solar parks owned by Solis (through its subsidiaries in Romania).

The Transfer will not have any impact on the other assets or ongoing operations
of AEG and ALCE. As Solis is no longer consolidated by ALCE, this is expected
to improve ALCE’s net equity position by approximately $45 million as a result
of the transaction.

For further information about the above, please refer to the attached notice of
written resolution.

About Alternus Energy Group:

The Company is a transatlantic clean energy independent power producer (IPP). We
currently develop, install, own and operate utility scale solar parks in America
and Europe. Our highly motivated and dynamic team at Alternus have achieved
rapid growth in recent years. Building on this, our goal is to reach 3GW of
operating projects within 5 years through continued organic development
activities and targeted strategic opportunities. Our vision is to become a
leading provider of 24/7 clean energy delivering a sustainable future of
renewable power with people and planet in harmony.

AEG operates primarily through Alternus Clean Energy, Inc. (Nasdaq: ALCE). AEG
is listed on the Euronext Growth Oslo exchange and headquartered in Ireland,
while Alternus Clean Energy, Inc. is listed on Nasdaq and headquartered in the
US. They remain as two separate legal entities.

Forward Looking Statements: Certain information contained in this letter,
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.

More information:
Access the news on Oslo Bors NewsWeb site

629012_Transfer NO0010914914_SB_20241003[78].pdf