EAM Solar (EAM) Company presentation summary

Transformation strategy and objectives

• Focus on transforming into a long-term profitable operational company through a three-pillar plan: operational upgrades, one-off recoveries, and litigation claims.

• Targeting sustainable profitability and compensation for damages from a 2014 acquisition.

• Plan includes increasing free cash flow, collecting one-off items, and pursuing significant damage claims.

Operational upgrades and financial impact

• Four solar PV plants in Italy to be rebuilt, increasing annual production by 75% to ~7.1–7.4 GWh.

• Upgrade investment of EUR 1.5m (NOK 16m) with payback in less than two years.

• EBITDA from core operations expected to rise from EUR ~1.0m to EUR ~1.75m post-upgrade.

• Annual revenues projected to increase by 63% to EUR 1.98m, with EBITDA up 411% to EUR 1.1m.

One-off recoveries and legal settlements

• EUR 7.1m in positive one-off cash items expected in 2026/2027, including bankruptcy proceeds, VAT refunds, and arbitration awards.

• EUR 1m already collected in H1 2026; further EUR 6.1m to be realized.

• Final settlement with Intesa Sanpaolo reduces liability to EUR 3.0m, generating an accounting gain and lowering financial risk.