Nordic Financials ASA — M&A Activity 2022

Aug 4, 2022

Update regarding progress of purchase of solar parks

Update regarding progress of purchase of solar parks

4 August 2022

With reference to the stock exchange announcement published on 29 June regarding the expected closing date of contract to buy two 1 MW solar parks in Italy.

After having negotiated with the sellers for some time, it has not yet been possible to reach a complete agreement on the commercial conditions that both parties are willing to accept. Both parties are nevertheless still motivated to find a solution. Due to consideration of both the seller's shareholder composition and their demands, as well as Aega's demands for price and internal rate of return, the process has dragged out in time. Negotiations are expected to resume after the Italian holiday that lasts throughout August. Aega will provide further updates as soon as we have something concrete to report and in any case by mid-September.

"We have over the years carried out many transactions, and from time to time it has taken somewhat longer than the initial plan. This time, various and partly new challenges have arisen along the way. However, I am very satisfied that both parties have chosen a constructive approach to solve them. There are still some pending issues to resolve, and this means we didn't reach the finish line before the Italian holiday. We look forward to using that period well and to do what we can to put in place solutions where there is still distance between the parties", says CEO of Aega Nils P. Skaset

For more information:

Nils Petter Skaset, CEO of Aega ASA,

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 (below 5MWp capacity) in Italy,

following strict investment criteria. In addition to being an industrial player

in Italy, Aega also considers financial investments within the renewable energy

sector.