BRIEF

on ELECTRICITE ET EAUX DE MADAGASCAR (EPA:EEM)

Final rejection of a claim against Victoria Angkor Company Limited

Stock price chart of ELECTRICITE ET EAUX DE MADAGASCAR (EPA:EEM) showing fluctuations.

Electricité et Eaux de Madagascar (EEM) announced that the Siem Reap Court of First Instance in Cambodia has upheld the final dismissal of a claim against its subsidiary, Victoria Angkor Company Limited (VAK). The judgment, initially issued on October 2, 2025, and confirmed on January 12, 2026, concerned allegations of unpaid dividends amounting to US$9,236,000.

This legal action was initiated by Pierre Ader and Bernard Gauthier in May 2024. The court deemed the claim frivolous. The dismissal of this request definitively closes this dispute without the possibility of further appeal.

R. E.

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