Nordic Financials ASA — Capital/Financing Update 2018

Feb 6, 2018

Shareholder loan to Aega and extension of CEO contract

Shareholder loan to Aega and extension of CEO contract

6 February 2018 - Reference is made to the stock exchange notice dated 18 January 2018, when the board of directors of Aega ASA ("Aega" or "the Company") announced that it was considering strategic alternatives to execute on one or more projects in the current pipeline of projects.

To secure financing for a potential near term acquisition target, Aega has entered into a loan agreement where 19 shareholders have committed to lend a total of NOK 3.8 million to the Company, at an interest rate of eight percent per annum. Three primary insiders are participating in the shareholder loan, either in person or through their limited companies, including chairman Halldor Christen Tjoflaat (NOK 100,000), board members Nils Petter Skaset (NOK 350,000) and Kathrine Breistøl (NOK 250,000)

The shareholder loan, which will be held in escrow, will be paid back in full if the acquisition in question does not materialise.

If the transaction goes ahead, Aega will ask the annual general assembly (AGM) to decide if the shareholder loan, including interest rate of eight percent per annum, should be refinanced or converted to shares in Aega at a conversion rate of NOK 1 per share. If the AGM votes against converting the shareholder loan into shares in Aega, the loan will mature with immediate effect and trigger an additional interest rate compensation of ten percent to the lenders.

The shareholder loan is secured against the shares of Aega Yieldco AS, a wholly owned subsidiary of Aega ASA.

The loan has been arranged by the company and no commission will be paid to any external third party facilitator.

In addition, Aega is pleased to announce that it has extended the contract with Interim CEO, Markus Enge.

For further information, please contact:

Halldor Christen Tjoflaat, Chairman,+47 900 96 406, cob@aega.no