In the Company information meeting 9 September 2025, EAM identified several
milestone targets for 2026 and beyond. Milestone no. 1 related to improving
Company cashflow has been achieved in the first quarter 2026 as planned.
1) Improved cash flow from ENFO 25:
In 2024 EAM entered into an agreement with the Italian Energy Authority, GSE, to
restore the Feed-in Tariff subsidy contract for the solar power plant ENFO 25.
As part of this agreement, EAM was awarded a one-off cash payment of EUR 811k.
Later it turned out that this payment was based on an overstatement of the
amount owed to EAM. Consequently, the FIT payments in 2025 were withheld until
the overpaid amount had been recouped by GSE.
As of March 2026, the overpaid amount has been recouped, and payment of FIT has
resumed. The improvement in annual cash flow is expected to be about EUR 200,000
(NOK 2.2m).
2) Restructuring of the ENS1 lease contracts:
The second element in improving cash flow was a restructuring of the existing
lease contracts for the ENS1 solar power plants. The revised leasing contracts
extend the payment period by 22 months, which now corresponds with the remaining
duration of the FIT subsidy contracts.
As of March 2026, the lease contacts have been restructured accordingly and,
once in effect, ENS 1 will experience an annual reduction in leasing costs of
EUR 162,000 (NOK 1.8m).
By delivering on milestone 1 the result is an improvement of annual cashflow of
about EUR 360,000 (NOK 4m).
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.