Nordic Financials ASA — Capital/Financing Update 2016

May 30, 2016

Successfully completes private placement

Successfully completes private placement

Aega ASA successfully completes private placement

Oslo, 30 May 2016

Aega ASA has successfully completed a private placement

through issuance of new shares for a total consideration of

NOK 25.5 million. The over-subscribed placement was made at

a subscription price of NOK 3 per share.

Aega ASA's (Aega) ambition, as outlined in the stock

exchange notice dated 26 April 2016, was to raise NOK 15-25

million.

Aega ASA completed the application period for the private

placement after close on Friday 27 May 2016, four days prior

to the original closing date of 31 May. The share capital

increase represents approximately 31,1 percent of the

outstanding shares in Aega ASA (Aega).

The new shares will be issued based on a Board authorization

granted by the Aega's extraordinary general meeting on 22

February 2016. Following approval by the Board, expected on

or about 31 May 2016, the new shares will be registered with

the Norwegian Register of Business Enterprises

(Foretaksregisteret) and VPS.

The new shares issued in the private placement will be

placed on a separate ISIN pending approval of a listing

prospectus by the Norwegian Financial Supervisory Authority

(the "FSA"), and will not be listed or tradable on Oslo

Axess until the listing prospectus has been approved by the

FSA and published by Aega, expected during June 2015.

The proceeds from the private placement will be used to

further grow Aega by investing in new solar power plants in

Italy, strengthen the company's balance sheet and liquidity

position as well as for general corporate purposes.

Aega aims to reach a total production capacity of 50MW by

the end of 2017. Today, the company owns a portfolio of five

individual solar parks in Italy with a combined production

capacity of 5MW. Furthermore, on 25 April 2016, Aega

announced a letter of intent to acquire a company containing

a 14 MW solar plant portfolio and EUR 10.7 million in cash.

The intention is to close the transaction by mid-June 2016.

"This successful private placement is an important tool to

take us one step closer towards our 50 MW target. It is

encouraging to witness that investors continue to believe in

Aega's business case," says Vegard Finstad, CEO of Aega ASA.

Aega has a quarterly dividend policy. On 18 May 2016, the

AGM approved two dividends of NOK 0,075 per share to be paid

31 May and 31 August respectively. Since its inception, Aega

has with this delivered eight consecutive quarterly

dividends to its shareholder.

Pioner Kapital AS acted as sole manager and bookrunner for

the private placement.

ENDS

For further information, please contact:

Vegard Finstad, CEO Aega ASA, +47 911 92 132

About Aega ASA:

Aega is a solar utility company that acquires and operates

solar power plants. The company currently owns a portfolio

of five individual solar parks in Italy with a combined

production capacity of 5MW. The company focuses on

acquisitions of smaller existing solar parks (below 5MW

capacity). It targets to reach a total production capacity

of 50MW within the end of 2017 by taking advantage of the

current attractive market for secondary solar parks. The

company has its operating offices in Oslo, Norway, and

Trento, Italy. More information about Aega is available at

www.aega.no