| Sterling & Wilson Renewable Energy announced that with respect
to the proceedings related to encashment of a bond by Sterling and Wilson Solar Solutions Inc. (wholly owned step-down subsidiary of the Company) against Fidelity and Deposit Company of Maryland and
Zurich American Insurance Company, the parties have entered into a settlement agreement to release and discharge each other from all the claims and counter claims. Accordingly, the parties have filed a
motion for dismissal and the United States District Court, Eastern District of Washington (Court) has passed an order of dismissal of the legal proceedings. |