Nordic Financials ASA — M&A Activity 2015

Dec 21, 2015

Signed letter of intent to acquire Aega Yieldco AS

Signed letter of intent to acquire Aega Yieldco AS

Nordic Financials ASA: Signed letter of intent to

acquire Aega Yieldco AS

Oslo, Norway, 21 December 2015

Nordic Financials ASA (OSE: NOFIN, "NOFIN") announces

that following an evaluation of various strategic

options, NOFIN has decided to enter into the market of

solar parks through a proposed acquisition of Aega

Yieldco AS (the "Company"). The proposed acquisition

represents a change in strategic direction for NOFIN to

include investments in secondary solar parks in Italy.

NOFIN has signed a letter of intent (the "LOI") with

Aega AS, the largest shareholder of the Company,

holding approximately 14% of the shares, to acquire the

Company for a consideration of approximately NOK 75.5

million for 100% of the shares of the Company with

settlement in NOFIN shares valued at NOK 3.00 per

share.

The proposed acquisition is subject to

satisfactory due diligence and the signing of a

definite share purchase agreement with the shareholders

of the Company, as well as shareholder approval at an

Extraordinary General Meeting in NOFIN expected to

be held by end of January 2016 (the "EGM"). The

valuation of the NOFIN shares represents a 119% premium

to the last published net asset value of NOK 1.37 per

NOFIN share as of 30 November 2015.

The Company is a solar utility company that acquires

and operates solar power plants. The Company currently

owns a portfolio of five individual solar parks in the

Umbria and Lazio regions in Italy with a combined

production capacity of 5MW. The Company focuses on

acquisitions of smaller existing solar parks (below 5MW

capacity), strictly with top level AU (autorizzazione

unica) concessions that are evaluated by the Company to

be the strictest concessions thereby contributing to

lower risk investments. The Company targets to reach a

total production capacity of 50MW within the next two

years by taking advantage of the current attractive

market for secondary solar parks meeting the strict

investment criteria.

The Company has a highly experienced management team

with credentials from leading companies in the solar

sector. The team has been present in the Italian solar

market since 2003. The Company has a strong on ground

operational focus and contributes to value enhancement

of its investments through delivering best in class

asset performance and effectivity for the solar parks.

The predecessor to the Company was established in

November 2013 and has since its inception acquired five

parks and delivered consecutive quarterly dividends to

its shareholders the last five quarters. The Company

has its operating offices in Oslo, Norway and Trento,

Italy.

The Company is structured as a holding company of

unique Special Purpose Vehicles (SPVs) being the

beneficial owners of the solar parks, hence the Company

has no employees besides a general manager. Management

of the Company's investments is performed by Aega AS on

market terms.

A separate notice convening the EGM to be held in

connection with the proposed acquisition will be sent

out in due course.

For further information, please contact:

Håvard Lillebo,

CEO Aega AS

+47 99 62 41 40, havard@aega.no

Swedbank Norway, branch of Swedbank AB (publ), acts as

sole financial advisor to the Company and

Advokatfirmaet Schjødt AS acts as the Company's legal

counsel in connection with the contemplated

transaction.