EAM Solar ASA: Update Legal Proceedings – Q4 2024

17 Dec 2024 16:30 CET

17 December 2024

1). Criminal Court Milan
On 4 July 2024, the Court of Appeal of Milan issued its decision in the ongoing
proceedings against Marco Giorgi and Igor Akhmerov, amongst others. The court
upheld the convictions of Akhmerov and Giorgi for indictment counts B) and D)
against the State of Italy, but overturned their convictions under indictment
count F) in relation to EAM.

On 11 October 2024, EAM submitted an appeal to the Supreme Court of Cassation
asking it to once again set aside the judgement from the appeal court. The
grounds for this appeal can be read in previous stock exchange notices. Aveleos,
Avelar, SAEM, Akhmerov, Giorgi and Sebastiano Maggi have also decided to appeal.
No determinations have yet been made by the Court of Cassation as to timelines
or hearing dates.


2). UBI Banca Case in Brescia
On 3 December 2024, the final hearing took place in the matter against UBI
Banca, now Intesa Sanpaolo, in the court of Brescia. A decision is expected in
the coming weeks.


3). ENFO 25
Earlier this year EAM applied under the amnesty scheme for a reinstatement of
ENFO 25’s Feed-in Tariff. The GSE accepted this application on 11 October 2024.
The Feed-in Tariff was restored in early December 2024.

On 14 December 2024 EAM was informed by GSE of a reimbursement representing the
discounted pay-back for the period of time in which the tariff was suspended. A
payment is expected within the next month.



For further information, please contact:

Viktor E Jakobsen, Chair, 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 acquisition of solar power
plants.
This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

More information:
Access the news on Oslo Bors NewsWeb site