Positive decision by Milan Court of Appeal regarding 2nd Arbitration Decision

The Milan Court of Appeal has entered a decision in the appeal initiated by Aveleos SA which challenged the 2nd Arbitration Award.

The Court has rejected all appeals and has therefore upheld the validity of the 2nd Arbitration Award, including EAM’s right to damages.

At this point the Company is unable to provide further detail as to timelines for the next stages and/or any follow-up actions.

For further information, please contact:

Viktor E Jakobsen, Chair, phone +47 9161 1009, viktor@eam.no Erik Brandon Reisenfeld, CEO, phone +479055 3658, erik@eam.no This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.