Solar — M&A Activity 2019

Mar 12, 2019

Solar A/S

Industrivej Vest 43 ■ DK-6600 Vejen ■ Denmark

Tel. +45 79 30 00 00 ■ CVR no. 15 90 84 16 ■ Web: www.solar.eu

solar

LEI: 21380031XTLI9X5MTY92

12 March 2019

Announcement no. 4 2019

Solar A/S will acquire Swedish business activities

Solar strengthens the position within heating and plumbing, and climate and energy in the Swedish market.

Solar A/S has signed an agreement with Finnish Kesko Corporation concerning the acquisition of selected parts of Onninen AB's Swedish business activities.

Solar acquires the heating, plumbing and air conditioning business segment, which serves mostly small and medium-sized contractors in Sweden. The acquisition includes 12 branches corresponding to a revenue of approx. DKK 400m.

Finalisation of the transaction is subject to usual conditions, including approval by relevant authorities. A clarification of this is expected before the end of Q2 2019. At the time of the closing, we will inform about the financial consequences of the acquisition.

CEO Jens Andersen explains the reason behind the acquisition: "We have a strong presence in Sweden and with this acquisition, we strengthen our market position within heating and plumbing, and climate and energy. We see a good future for this business and look forward to welcome new colleagues to the Solar Group."

Yours faithfully,

Solar A/S

Jens Andersen

Contacts:

CEO Jens Andersen - tel. +45 79 30 02 01

CFO Michael H. Jeppesen - tel. +45 79 30 02 62

Director, Stakeholder Relations Charlotte Risskov Kræfting - tel. +45 40 34 29 08

Facts about Solar

Solar Group is a leading sourcing and services company. Our core business centres on product sourcing, value-adding services and optimisation of our customers' businesses.

Being a sourcing and services company, we focus on each individual customer. We always strive to understand our customers' unique and genuine needs in order to provide relevant, personal and value-adding services, turning our customers into winners.

Solar Group is headquartered in Denmark, generated revenue of more than DKK 11bn in 2018 and has approx. 3,000 employees. Solar is listed on Nasdaq Copenhagen and operates under the short designation SOLAR B. For more information, please visit www.solar.eu.

Disclaimer

This announcement was published in Danish and English today via Nasdaq Copenhagen. In the event of any inconsistency between the two versions, the Danish version shall prevail.