Photon Energy Group Responds to Media Article on Insolvency Proposal Against Subsidiary

Amsterdam/Prague/Budapest – 23 September 2025 – Photon Energy N.V. (WSE&PSE: PEN, FSX: A1T9KW) (the "Group" or the "Company") issues the following statement in response to information that appeared on the e15 server on 23 October 2025.

Photon Energy Group confirms that its subsidiary Photon Energy Corporate Services CZ s.r.o. has as of today settled the outstanding payments to the consulting company QUARTEX Praha s.r.o., the IT company ARTEX informační systémy spol. s r.o., and consultant Petr Kunetka.

All three of the above-mentioned entities are project-related as per the contract for work concluded with ARTEX informační systémy spol. s r.o. on 31 August 2023, the subject of which included, among other deliverables, the still unfinished implementation of the Microsoft Dynamics 365 Business Central software solution.

Photon Energy Corporate Services CZ s.r.o. provides internal service and administrative functions for other companies within the Group and is not directly involved in the Group's core business activities.

This situation is not related to, and does not affect, the operational stability or financial health of Photon Energy Group. All key business areas – from the construction and servicing of solar power plants to the wholesale and distribution of photovoltaic technologies and battery solutions, as well as electricity trading and activities in the field of environmental technologies (including PFAS decontamination) – are not and will not be affected in any way.

“We would like to assure all our partners, clients and the public that this administrative matter has no impact on our business. All obligations have been paid, and the situation is fully under control. It was not a financial stability issue, but a one-off delay due to the complex implementation of an IT solution. Our investments, projects and strategic direction remain unaffected, and we remain committed to the responsible and transparent management of all processes,” said Georg Hotar, CEO of Photon Energy Group.

The Group will continue to fully cooperate with the relevant institutions and take all necessary steps to ensure the trust of all stakeholders. 

About Photon Energy Group – photonenergy.com

Photon Energy Group delivers solar energy and clean water solutions around the world. Its solar power services are provided by Photon Energy; since its foundation in 2008, Photon Energy has built and commissioned solar power plants with a combined capacity of over 180 MWp and owns power plants with a combined capacity of 135 MWp. It is currently developing projects with a combined capacity of 870 GWp in Australia, Hungary, Poland, Romania and South Africa and provides operations and maintenance services for over 1.1 GWp worldwide. The New Energy business has electricity trading licenses in Poland, Hungary, the Czech Republic, Slovakia, and Serbia. The Company is one of the largest providers of DSR services to the Polish TSO with a contracted capacity of approx. 320 MW for 2025, and through its Virtual Power Plant (VPP) aggregates energy generators and consumers with a total capacity of over 480 MW. The Group’s other major business line, Photon Water, provides clean water solutions including treatment and remediation services, as well as the development and management of wells and other water resources. Photon Remediation delivers comprehensive environmental remediation solutions, including patented in-situ technology that has been proven to effectively remove PFAS from groundwater 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 Group is headquartered in Amsterdam, with offices in Australia and across Europe.