Today EAM Solar AS has been informed by the company's Norwegian legal counsel
that Igor Akhmerov has once again filed a petition for arrest over EAM assets.
The Petition is based on the same, or similar, complaints as his previous
unsuccessful petition in 2024. 

Igor Akhmerov is former managing director of Aveleos and former CEO of the
Avelar Group. Igor Akhmerov was found liable for the crimes against the State of
Italy described in indictment points B) and D). 

On 29 October 2024, Igor Akhmerov petitioned the Oslo District Court for an
arrest over assets against EAM. This petition was based on a supposed future
civil claim for legal costs arising from the Italian Criminal Case. 

On the evening of 6 January 2025, EAM received notice that Igor Akhmerov had
chosen to drop the petition for arrest before the Oslo District Court. Mr.
Akhmerov was ordered to pay NOK 100,000 to EAM for withdrawing his claim.  To
date, Akhmerov has not paid this amount to EAM. 

EAM notes that in 2024, Mr. Akhmerov brought his complaint before the media one
day prior to the 16 October 2024 extraordinary general meeting of the company
which resolved to implement the envisioned equity increase. EAM notes that Mr.
Akhmerov subsequently dropped his petition once it became clear that the equity
increase had been successful. 

EAM further notes that Mr. Akhmerov has brought this new petition mere days
before the 1 October 2025 extraordinary general meeting of the shareholders,
which will consider whether to implement the envisioned equity increase. 

Once again, EAM disputes Akhmerov's claim as there is neither a basis for
liability nor a causal connection. Once again, EAM reminds Mr. Akhmerov that his
counterparty in the Italian legal proceedings was the prosecution office of
Milan, not EAM. The courts in Italy chose not to award Mr. Akhmerov any legal
fees in that matter. 

EAM reserves the right to seek damages for EAM's loss stemming from Akhmerov's
now-proven liability for crimes against the state of Italy related to subsidy
fraud. 

For further information, please contact:

Erik Brandon Reisenfeld, CEO, phone +479055 3658, erik@eam.no
Viktor E Jakobsen, Chair, phone +47 9161 1009, viktor@eam.no