Company: ALCE
Filing Date: 2025-06-06
Form Type: 10-K
Source: 0001213900-25-052242
Chunk: 865

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-06
Form: 10-K
Item: Item 1C
Chunk 865
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 effects of the adjustments to retrospectively apply the
effects of discontinued operations of Solis and Romanian subsidiaries discussed in Note 19, to retrospectively apply the change in accounting
for ASU 2023-07 Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures described in Note 23, and the effects of
the reclassifications described in Note 3, the accompanying consolidated balance sheet of Alternus Clean Energy, Inc. (the “Company”)
as of December 31, 2023, and the related consolidated statements of operations and comprehensive income (loss), shareholders’ deficit,
and cash flows for the year then ended, and the related notes (collectively referred to as the consolidated financial statements). The
2023 financial statements before the effects of the adjustments noted above are not presented herein. In our opinion, the consolidated
financial statements, before the effects of the adjustments to retrospectively apply the 1-for-25 reverse stock split discussed in Note
22, the effects of the adjustments to retrospectively apply the effects of discontinued operations of Solis and Romanian subsidiaries
discussed in Note 19, to retrospectively apply the change in accounting for ASU 2023-07 Segment Reporting (Topic 280) Improvements to
Reportable Segment Disclosures described in Note 23, and the effects of the reclassifications described in Note 3 present fairly, in all
material respects, the financial position of the Company as of December 31, 2023, and the results of its operations and cash flows for
the year then ended, in conformity with accounting principles generally accepted in the United States of America.

We were not engaged to audit, review, or apply any procedures to the
adjustments to retrospectively apply the effects of the adjustments to retrospectively apply the 1-for-25 reverse stock split discussed
in Note 22, the effects of the adjustments to retrospectively apply the effects of discontinued operations of Solis and Romanian subsidiaries
discussed in Note 19, to retrospectively apply the change in accounting for ASU 2023-07 Segment Reporting (Topic 280) Improvements to
Reportable Segment Disclosures described in Note 23 and the effects of the reclassifications described in Note 3 and, accordingly, we
do not express an opinion or any other form of assurance about whether such adjustments are appropriate and have been properly applied.
Those adjustments were audited by Kreit & Chiu, LLP.

Explanatory Paragraph Regarding Going Concern