ENERGEIA AS: WITHDRAWAL OF DELISTING APPLICATION & TRADING UPDATE

25 Jun 2025 17:17 CEST

25 June 2025

On 16 May 2025, Energeia AS applied for a delisting of its shares from Euronext
Growth Oslo. Among the main reasons for the delisting application was that
Energeia had not been successful in attracting new capital as a listed company
and that liquidity in the shares had been very limited for a long time.
Following the concession from NVE 18 June for the Seval Skog solar plant,
Energeia has experienced a significant uplift in interest as evidenced in both
trading volumes and trading prices.

On this basis, the board of directors of Energeia has resolved to withdraw the
delisting application.

As announced in earlier stock exchange notices, Energeia has continued to make
positive progress across its project portfolio. This includes yesterday’s
application filed with Norges vassdrags- og energidirektorat ("NVE") for the
Mæhlum solar power plant in Gjøvik (24MWdc/20MWac), as well as the support and
formal approval by Østre Toten municipality for land cultivation at the Store
Nøkleberg solar power plant.

Energeia is now advancing the development of the Seval Skog solar power plant
towards the Final Investment Decision. The project holds a license to build
46MWdc/30MWac including 6MW/12MWh in battery storage. Designed with a single
axis tracker system, the power plant is estimated to generate 53 GWh of yearly
production, and spanning 72 hectares of land owned by the municipality of
Gjøvik, it will by far be the largest Agricultural Photovoltaics (Agri-PV)
project in Norway.

The estimated capital expenditure required to develop the project is estimated
to be NOK 312 million. Energeia is currently evaluating a range of equity
financing options for the project, including share issuance, SPV financing,
partial or full sale, or other structural alternatives. Discussions with
potential debt investors are already ongoing.

As previously announced, Energeia will require additional funding for working
capital and project development purposes. The estimated timing of this is around
August-September and the company will revert with an update in due course.


For further information, please contact:

Jarl Egil Markussen, CEO, e-mail: jarl@energeia.no and tel: +47 480 23 214


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

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