Enersense International Oyj - Inside information

Insider information: Enersense writes down a 6-MEUR receivable following an arbitral tribunal's decision in Lithuania, and withdraws its 2024 EBITDA guidance for the time being

Enersense International Plc
Insider information 29 April.2024 at 11:50 p.m.

Enersense has been informed, on 29 April 2024, about a decision made by an
arbitral tribunal in Lithuania regarding a dispute between Enersense and
Litgrid, Lithuanian electricity transmission system operator over an agreement
about receivables and deliveries concerning two projects that have been executed
in Lithuania during 2021-2023. Enersense initiated arbitration proceedings in
the matter in April 2023. According to the decision of the arbitral tribunal,
Litgrid is obliged to pay to Enersense approximately EUR 1 million. Based on the
decision of the arbitral tribunal, Enersense writes down EUR 6 million from a
EUR-7-million receivable it had recorded in the 2022 financial statements. The
write-down will have a corresponding negative impact on the EBITDA in the second
quarter of 2024.

The company will investigate the decision of the arbitral tribunal more in
detail and assess further legal measures.

Enersense withdraws its EBITDA guidance given for the year 2024 for the time
being. The company's estimate on the revenue development in 2024 will remain
unchanged.

Company's guidance for the year 2024 issued on 29 February 2024

In 2024, Enersense's revenue is expected to be in the range of EUR 365-435
million and EBITDA in the range of EUR 15-25 million.

The revenue is expected to grow in 2024. Outlook especially for the company's
growth areas is favourable. The EBITDA is expected to grow. Profitability is
expected to improve even if the investments in growth continue.

ENERSENSE INTERNATIONAL PLC
Tommi Manninen
SVP, Communications and Public Affairs

More information:

Jussi Holopainen, CEO
Tel. +358 44 517 4543
Email: jussi.holopainen@enersense.com

Risto Takkala, acting CFO
Tel.: +358 45 127 4414
Email: risto.takkala@enersense.com

Media contacts:
Tommi Manninen, SVP, Communications and Public Affairs
Tel. +358 40 043 7515
Email: tommi.manninen@enersense.com

Distribution:
Nasdaq Helsinki
Major media
www.enersense.com

Enersense in brief:
Enersense International Plc is a creator of zero emission energy solutions and
strongly supports the ongoing energy transition and enabling a zero-emission
society. Enersense Group's revenue in 2023 was EUR 363 million. The company has
approximately 2,000 employees, with operations in Finland and internationally.
Enersense's shares are listed on Nasdaq Helsinki (ESENSE). The company's
investor pages can be found at www.enersense.com/investors.

Attachments:

04290520.pdf