Nordic Financials ASA — Capital/Financing Update 2022

Mar 11, 2022

Update on warrants with expiry date 10 March 2022

Update on warrants with expiry date 10 March 2022

Oslo, Norway, 11 March 2022

Reference is made to the stock exchange announcement published on 28 October 2021 regarding completion of a rights issue (the "Rights Issue") in Aega ASA (the "Company" or "Aega") and issue of 18,000,000 new shares in connection with the Rights Issue. Each share was delivered with the addition of two tranches of warrants. The first tranche of warrants gave a right to subscribe for one share in the Company on 10 March 2022 with a par value of NOK 1 at a subscription price of NOK 1.70. The second tranche of warrants gives the right to subscribe for one additional share in the Company on 16 June 2022 with a par value of NOK 1 at a subscription price of NOK 1.90.

The expiry date for exercising the first tranche of warrants was 10 March 2022. Based on general market development and trading in the Company's shares, the exercise price of the warrants in the first tranche is lower than the share price on Euronext Expand. Consequently, the Company has not received any notices of exercise.

In connection with the Rights Issue, the Company wished to facilitate the strengthening of the Company's equity in three rounds: (i) the Rights Issue, (ii) first tranche of warrants, and (iii) second tranche of warrants. No warrants were exercised in the first tranche. Further, it is uncertain whether the warrants that can be exercised on 16 June 2022 will be exercised and contribute to strengthening equity.

In order to facilitate the Company's financing for further growth as planned, the Company will therefore initiate an assessment of alternatives for strengthening the Company's equity in line with previously communicated strategy. The board's intention is to facilitate a raise of capital that ensures equal treatment of the Company's shareholders and covers the Company's need for growth capital and present this at the latest within the annual general meeting, May 31.

For further information please contact:

Nils Petter Skaset, CEO of Aega

Tel: +47 951 88 154, e-mail: ceo@aega.no

About Aega

Aega ASA is a Norwegian listed investment Company. The Company focuses on acquisitions of smaller existing solar parks in Italy. In addition to being an industrial player in Italy, Aega also considers financial investments within the renewable energy sector.