Nordic Financials ASA — Earnings Release 2021

May 27, 2021

Aega ASA, first quarter 2021 financial results

Aega ASA, first quarter 2021 financial results

"After the re-start and the new course set out for Aega in 2020, we now have a new team, a revised strategy and many new shareholders. The first quarter of 2021 was the quarter where we executed and closed many of the deals initiated through the latter part of 2020. Our production capacity is considerably increased and Aega are now on track towards our next large milestone; a 10MW Aega owned and operated solar plant portfolio. In addition to the wholly owned Italian solar park portfolio, we are in the process of developing our financial investment arm. This is a part of our strategy that we have great plans for." says CEO Nils P. Skaset.

With Aega's portfolio of assets the first quarter operating revenue came in at EUR 190,000. Aega delivered a negative EBITDA of EUR 175,000 and a result for the period of minus EUR 384,000.

During the first quarter some highligts are:

- Purchased and finalized the transaction for three new solar parks in Italy. At the end of the quarter Aega now owns five solar parks.

- Aega's total production in Q1 was 1 040 596 kwh.

- In February 2021 Aega acquired an additional block of 322.830 shares in Norsk Solar AS. As of 31 March, Aega's total holding in Norsk Solar is 3.989.170 shares, equal to a 5,3% ownership.

For further information, please contact:

Nils P. Skaset, CEO +47 951 88 154

Aega ASA is a Norwegian listed investment company with focus on solar power and renewable energy.

www.aega.no