Photon Energy Expands Footprint in Australasia, Signing a 20.8 MWp EPC and
O&M Contract in New Zealand

Issuer: Photon Energy NV / Key word(s): Contract
Photon Energy Expands Footprint in Australasia, Signing a 20.8 MWp EPC and
O&M Contract in New Zealand

20.05.2024 / 14:53 CET/CEST
The issuer is solely responsible for the content of this announcement.

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Photon Energy Expands Footprint in Australasia, Signing a 20.8 MWp EPC and
O&M Contract in New Zealand

  * Located in Pukenui in the Far North District of the North Island of New
    Zealand, the project is owned by Aquila Clean Energy APAC and Far North
    Solar Farm (FNSF).

  * This project signifies Photon Energy Group's expansion into the New
    Zealand market, and will draw on experience gained in Australia and
    throughout Europe.

  * Upon completion, Photon Energy will be engaged to provide operations and
    maintenance (O&M) services.

Amsterdam/Sydney - 20 May 2024 - Photon Energy N.V. (WSE&PSE: PEN, FSX:
A1T9KW) ('Photon Energy Group', the 'Company' or the 'Issuer') has announced
that it has signed an EPC and O&M contract for a 20.8 MWp solar project in
New Zealand which is owned by Aquila Clean Energy APAC and Far North Solar
Farm (FNSF).

"The project marks a significant milestone, as it is our first solar project
in New Zealand and reperesents our expansion in this region. We are
delighted to work with Aquila Clean Energy APAC and FNSF to build their
first solar power plant in this market," said Georg Hotar, CEO of Photon
Energy Group.

The project is located in Pukenui in the Far North District of New Zealand.
It will be equipped with high-efficiency solar PV modules mounted on a mix
of fixed east-west and north facing ground mount.

With construction works currently underway, the facility will be comprised
of solar modules with a total capacity of 20.8 MWp, connected to the Top
Energy network.

The project represents Photon Energy's first utility-scale project in New
Zealand and will be one of the first utility-scale projects to be developed
by Aquila Clean Energy and FSNF in the country. Photon Energy was also
selected to provide ongoing O&M services for the project.

About Photon Energy Group - photonenergy.com

Photon Energy Group is a group of companies providing renewable energy,
clean water and environmental remediation solutions worldwide. Photon Energy
and Lerta provide comprehensive renewable energy solutions, including solar
power and energy flexibility. Since its foundation in 2008, Photon Energy
has built and commissioned solar power plants with a combined capacity of
over 160 MWp and has power plants with a combined capacity of 131.1 MWp in
its proprietary portfolio.It is currently developing projects with a
combined capacity of 1.2 GWp in Australia, Hungary, Poland and Romania and
providesoperations and maintenanceservices for over 700 MWp worldwide.
Photon Energy's Virtual Power Plant aggregates renewable energy generators
and consumers with a total capacity of over 420 MW. Photon Energy and Lerta
hold electricity trading licenses in Poland, the Czech Republic, Slovakia,
Hungary, Romania and Serbia. Lerta is the third largest provider of DSR
services to the Polish TSO,with a contracted capacity of 389 MWfor 2024.
Through Photon Water, the Group offers water treatment and management
solutions, and its remediation technology removes PFAS and other
contaminants from water and soil. Photon Energy N.V., the holding company
for Photon Energy Group, is listed on the Warsaw, Prague and Frankfurt Stock
Exchanges as well as Xetra, Germany's leading online trading platform.Photon
Energy Groupis headquartered in Amsterdam, with offices in Australia and
across Europe.

Media Contact
Martin Kysly
Head of Marketing and Corporate Communications
Tel. +420 774 810 670
E-mail: martin.kysly@photonenergy.com

Investor Relations Contact
Joanna Rzesiewska
Investor Relations Manager
Tel. +420 777 486 464
E-mail: joanna.rzesiewska@photonenergy.com


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