19 June 2023

In February 2024, the arbitration court in Milan issued its ruling in the
arbitration procedure initiated by Aveleos SA against EAM Solar ASA (see stock
exchange notice dated 29 February 2024). This ruling was supplemented by a
clarification of interest calculation on 15 May 2024.

EAM has been informed that the other party, Aveleos, has appealed the
arbitration award to the Court of Appeal in Milan. EAM will work with its legal
advisors in Italy to respond to the appeal. The timeline for the appeal process
is currently unknown.

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.