Notification: Waaree module bankability advice published without consent

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The PV module assessment mentioned in Waaree's press release was carried out by Fichtner Italia persuant of a specific mandate from one of its Clients.

Also, the assessment was related to some specific PV module types and it has been executed through specific evaluation methodologies and inquiries. Therefore, the conclusions are specific and, as such, cannot be generalized in abstract terms as appears in the press release.

In particular, Fichtner's assessment did not, and was not intended to, provide any kind of "certification" of the PV modules. Nor it was related to the whole Waaree PV modules portfolio, as it may be inappropriately assumed by the press release.

Fichtner therefore disavows and takes every possible distance from the open and broad extrapolations contained in the press release and would like to finally clarify that, according to the Group's total commitment towards Client's confidentiality and satisfaction, no consent was rleeased to any kind of public disclosure of the results of its findings or Report related to Waaree."

NB: The Waaree Energies press release has been deleted from the pv magazine website.

http://www.fichtner.it/