March 9, 2021
AEGA ASA (Aega) has through a wholly owned subsidiary (NORITA INVEST S.r.l.)
entered a preliminary share purchase agreement with Elektrosolar Service S.r.l.
to buy a 1 MWp solar park in Emilia Romagna, Italy.

Aega estimates that the final signing of the transaction will take place on or
before April 30, 2021. Both parties can still withdraw from the deal, however
that would trigger a compensation clause.

Aega has signed a contract to acquire all shares in Energylife S.r.l. which owns
a 1 MWp solar plant in Emilia Romagna, Italy. Aega's funding of the purchase
will be through existing cash. EUR 380,000 is to be paid for the share capital
at cut-off date (January 1, 2021). The outstanding senior debt at the same date
is equal to EUR 2,346,000.

The 1 MWp solar park is a ground-mounted power plant, benefitting from Conto
Energia 3. The end of feed-in tariff is 10 years from cut-off date, out of their
respective 20-year concession period. The plant is expected to deliver an
internal rate of return (IRR) in line with Aega's current assets and the group's
overall investment target.

After the acquisition the Chairman of Aega, Mr. Halldor C. Tjoflaat, will be
appointed CEO and will constitute the Energylife S.r.l. Board of Directors.
There are no employees in the acquired company. Energylife is a special purpose
company established in Q2 2011. There are no significant off-balance assets or
liabilities.

With the completion of this transaction, Aega will own 5 solar power plants with
a total capacity of 5 MWp in Italy. Aega has the infrastructure and partners to
quickly get the new plant optimized. Aega continues to look opportunistic on
further acquisitions.

ENDS

For further information, please contact Nils Petter Skaset, CEO of Aega ASA,
tel: +47 951 88 154, e-mail: ceo@aega.no

Aega ASA is a Norwegian listed investment company. The company focuses on
acquisitions of smaller existing solar parks (below 5MWp capacity) in Italy. In
addition to being an industrial player in Italy, Aega also considers financial
investments within the broader renewable energy sector.