Nordic Financials ASA — M&A Activity 2016

Jun 10, 2016

Aega ASA has terminated the negotiations to buy a 14MW solar plant portfolio after due diligence findings.

Reference is made to the stock exchange release 25 April 2016, where Aega ASA announced a letter of intent to acquire a company containing a 14 MW solar plant portfolio and EUR 10.7 million in cash from a private equity-firm.

Aega ASA has since then worked extensively on negotiating the final terms of the transaction and in parallel worked on the due diligence of the portfolio of solar parks included in the proposed transaction.

Due to findings in the due diligence process, Aega ASA has come to the conclusion that it is in the company's best interest to terminate the negotiations with the seller.

Aega ASA follows a rigorous due diligence process, and a satisfactory outcome is a prerequisite before going forward with any investment decision in the company.

The company has currently an extensive pipeline of attractive potential investments under evaluation and in due diligence phase. The company do not see investment opportunities as a limiting factor to the company's growth plans.

Oslo, 10 June 2016

Aega ASA

For further information, please contact:

Knut Øversjøen, chairman of Aega ASA, tlf: +47 90 86 06 19

Vegard Finstad, CEO of Aega ASA, tlf: +47 911 92 132

About Aega ASA

Aega ASA is a solar utility company acquiring and operating solar power plants. The company currently owns a portfolio of five individual solar parks in Italy with a combined production capacity of 5MW. The company focuses on acquisitions of smaller existing and operating solar parks (below 5MW capacity), meeting strict investment criteria defined by the company. It targets to reach a total production capacity of 50MW by the end of 2017 and intends to take advantage of the current attractive market for secondary solar parks. The company has its operating offices in Oslo, Norway, and Trento, Italy. The company's shares are listed on Oslo Axess.