EAM Solar AS: Q1 2026 Financial Report

Attached is the preliminary condensed consolidated financial statements for the first quarter 2026.

Highlights for the quarter include:

• Q1 2026 EBITDA came in at a profit of EUR 2,18m. The profit mainly stems from two non-recurring items: 1) a EUR 770k cash payout from the ESGP bankruptcy, and 2) increase in court approved claim against Aveleos of EUR 1.5m.

• EBITDA from ordinary power plant operation was negative with EUR 46k in line with the seasonality of solar power production.

• ‘Milestone 1’ cashflow improvements achieved in the first quarter, resulting in an annual cashflow improvement of NOK 4m.

• EAM and Intesa Sanpaolo has agreed on all terms for a settlement agreement. It is expected that the settlement agreement will be executed in April. When signed, settlement will result in a non-recurring profit of EUR 1.39m by reversal of debt provisions.

• Company will in the second quarter present a business plan for developing EAM into a long-term profitable operational company in addition to litigation activities. Execution of the business plan requires the company to raise new equity. An Investment Memorandum describing the business plan will be published by the Company shortly.

• EAM group book equity is EUR 3,4m at the end of the first quarter.