Advent Technologies dismisses EY as auditor, appoints M&K; loses EU grant eligibility

ADVENT TECHNOLOGIES HOLDINGS, INC.

Ernst & Young (EY) resigned as auditor on Sept 17, 2024; Audit Committee appointed M&K CPAS, PLLC on Sept 20.
EY's 2023 audit report included a going concern explanatory paragraph; no other disagreements except a material weakness in internal controls.
Subsidiary Advent Technologies SA notified on Sept 16, 2024 by Greek Ministry of Finance of ineligibility for IPCEI grant (Green HiPo) due to financial condition.
Advent Technologies SA filed an appeal against the grant ineligibility decision.
No disagreements or reportable events occurred with EY during the past two fiscal years and subsequent interim period.

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