Highlights Q3 2023

EBITDA for the quarter was EUR 34 thousand and accumulated for the year minus
EUR 798 thousand. Normal operations, adjusted for legal costs resulted in an
EBITDA of EUR 161 thousand for the quarter, and minus EUR 91 thousand
accumulated for the year, equivalent to an adjusted EBITDA margin of 49 per cent
and minus 12 per cent respectively.

Cost of operations and SG&A were EUR 50 thousand and EUR 121 thousand for the
quarter, and EUR 150 thousand and EUR 728 thousand accumulated for the year
respectively.

Legal costs were EUR 128 thousand in the quarter and EUR 707 thousand
accumulated for the year.

On 12 July 2023, Section V of the Criminal Appeal Court of Milan notified the
parties that the appeal process for the criminal proceedings related to the P31
fraud case will continue with a first hearing set for 30 November 2023.

Regarding the new arbitration in Milan of 2020, the final hearing in this
arbitration took place on 13 September 2023. The arbitration tribunal has set a
term until 26 January 2024 to deliver their final decision. 

For further information, please contact: Viktor E Jakobsen, Chairman, 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.

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