7 October 2021

The Supreme Court of Italy held a hearing on the 6th of October on the appeal of
the acquittal sentence decided by the Milan Criminal Court of Appeal issued the
20th of January 2021.

The Supreme Court of Cassation decided to annull the judgment of acquittal of
the indicted by the Milan Court of Appeal, and consequently the criminal
proceedings will return to the Milan Criminal Court of Appeal for new
proceedings.

As far as EAM understands this reinstates the validity of the first instance
ruling from April 2019 whereby the Court of Milan found EAM to be victim of
criminal contractual fraud in conjunction with the P31 acquisition.

The detailed basis and arguments for the Supreme Court's decision will be
published at a later date.

The Italian Supreme Court of Cassation is the highest court of Italy. Appeals to
the Court of Cassation generally come from the Appellate Court, the second
instance courts. The Supreme Court can reject, or confirm, a sentence from a
lower court. If it rejects the sentence, it can order the lower court to amend
the trial and sentencing, or it can annul the previous sentence altogether.


For further information, please contact:

Viktor E Jakobsen, CEO, 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.