Company: ALCE
Filing Date: 2025-12-08
Form Type: DEF 14C
Source: 0001213900-25-118968
Chunk: 8

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-12-08
Form: DEF 14C
Chunk 8
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 and          
 Unreserved*  |            |
|:---------------------------------|:----|:-----------|------------:|:----|:------------|--------:|:----|:------------|----------:|:----|:-----------|------------:|:----|:-------------|-----------:|
| Pre-Reverse Stock Split          |     |            | 600,000,000 |     |             | 724,658 |     |             | 4,408,191 |     |            | 594,867,151 |     | $            | 17,846,014 |
| Post-Reverse Stock Split 1:2     |     |            | 600,000,000 |     |             | 362,329 |     |             | 2,204,095 |     |            | 597,433,576 |     | $            | 17,923,007 |
| Post-Reverse Stock Split 1:2,500 |     |            | 600,000,000 |     |             |     289 |     |             |     1,763 |     |            | 599,997,948 |     | $            | 17,999,938 |

| * | Based on a hypothetical post-split stock price calculated by                          
 multiplying the closing stock price on November 24, 2025 of $0.03 by the split ratio. |

| (1) | Includes shares of common stock reserved for issuance (i) upon                                                          
 the exercise of currently exercisable warrants, (ii) upon exercise of convertible notes, and (iii) under the 2023 Plan. |

<div align='center'>3</div>

A Reverse Stock Split would affect all stockholders
uniformly. As of the effective date of the Reverse Stock Split which shall be determined by the Board in its sole discretion (“Effective
Date”), each stockholder would own a reduced number of shares of common stock. Percentage ownership interests, voting rights and
other rights and preferences would not be affected, except to the extent that the Reverse Stock Split would result in fractional shares
(as described below).

A Reverse Stock Split would not affect the registration
of our common stock under Section 12(b) of the Exchange Act and we would continue to be subject to the periodic reporting
and other requirements of the Exchange Act. Our common stock would continue to be listed on the OTC Markets under the symbol “ALCE,”
but would have a new Committee on Uniform Securities Identification