Nordic Financials ASA — Earnings Release 2022

May 31, 2022

Aega ASA, first quarter 2022 financial results

Aega ASA, first quarter 2022 financial results

Aega ASA (Aega) has today published its financial results for the first quarter of 2022.

Aega had revenues of EURt 596 in the first quarter, up from EURt 190 in the same period last year. The EBITDA result in the first quarter was EURt 210, compared to EURt -174 the year before.

"I am very pleased that we in the first quarter, which is the quarter with the lowest solar irradiation and thus power production, we deliver positive EBITDA and positive cash flow from operations. When we in addition prove that we are a green company that grows, have moderate debt, good producing power plants and good cost control - then I think it's time to lift once gaze and look positively to the future. Our niche in the secondary market in Italy is good for us and we are able to deliver a return (IRR) that we do not often see in solar energy without taking significantly more financial or geopolitical risk ", says Nils P. Skaset, CEO of Aega.

Total energy production from Aega’s own industrial portfolio in the first quarter of 2022 was 1,596,466 kWH (1,040,596 kWH).

For further information, please contact:

Nils P. Skaset, CEO

+47 951 88 154

ceo@aega.no

www.aega.no

About Agea

Aega ASA is an investment company listed on Euronext Expand in Oslo. Aega’s main focus is on the solar power market. The company acquires and operates smaller existing Italian solar power plants, following strict investment criteria. In addition to being an industrial player it also considers financial investments in the solar and renewable sector. The company’s head offices are in Oslo (NO) and Trento (IT).