Energeia AS: Legal dispute concerning Power Purchase Agreement in the Netherlands

Oslo, 11 August 2026

Energeia AS (“Energeia” or the “Company”) announces that its subsidiary Energeia Leeuwarden B.V. received a writ of summons on 4 August 2026 from Coöperatie NLD Energie U.A., formerly trading under the name Energie VanOns (“EVO”). The proceedings have been brought before the District Court of the Northern Netherlands (Rechtbank Noord-Nederland), Leeuwarden location, and concern a dispute over the interpretation and application of the price formula in the Power Purchase Agreement (“PPA”) concluded between Energeia Leeuwarden B.V. and EVO on 6 August 2019, as amended by addendum dated 11 September 2020.

The dispute concerns, in the main, the question of which SDE parameters published by the government and the Netherlands Environmental Assessment Agency (Planbureau voor de Leefomgeving, “PBL”) must be applied in calculating the price for the electricity supplied by Energeia Leeuwarden’s solar park.

More specifically, the dispute concerns the question of whether periods of six hours or longer with negative EPEX Spot prices should or should not be included in the calculation of the relevant market price and the profile and imbalance factor.

EVO takes the position that a negative-price-hours correction must be applied. EVO also claims payment by Energeia Leeuwarden of a total of EUR 375,482.13 including VAT, relating to the final settlements for 2023, 2024 and 2025, plus contractual interest and legal costs, and seeks to have this correction methodology declared applicable to future settlements up to and including the end of the 10-year contract term.

Energeia Leeuwarden disputes both EVO’s interpretation of the agreement and the resulting payment claims.

Energeia Leeuwarden takes the position that the settlement should be based on the relevant SDE/PBL parameters that apply to the subsidy regime under which the solar park falls. Under this approach, periods of six hours or longer with negative electricity prices are not included in determining the market price of electricity.

Energeia Leeuwarden’s solar park holds an SDE decision (SDE-beschikking) dated 2017. Energeia Leeuwarden is of the view that this is relevant to determining the applicable parameters under the PPA.

The dispute has already been the subject of discussions between the parties for a considerable time. In October 2025, the parties made arrangements aimed at reaching an amicable resolution. The parties ultimately did not reach a definitive settlement, following which the dispute was submitted to the court for adjudication.

Energeia Leeuwarden will, in consultation with its legal advisers, mount a reasoned defence against the claims brought and defend its interpretation of the agreement in the proceedings.

The first cause-list date (roldatum) in the proceedings has been set for 2 September 2026.

For further information, please contact:

Jarl Egil Markussen, CEO, e-mail: jarl@energeia.no and tel: +47 480 23 214

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

More information: Access the news on Oslo Bors NewsWeb site