The Nomination Committee prior to the Annual General Meeting on 12 May 2022 in Soltech Energy Sweden AB (publ) has now been appointed as above and consists of the following members:

– Frederic Telander, Chairman of the Board of Advanced Soltech Sweden AB (publ), appointed by Frederic Telander
– Christoffer Caesar, CEO of Soltech Energy Solutions AB, appointed by Ölander Invest AB
– Patrik Pettersson, CEO NP-Gruppen AB, appointed by 1416 Holding AB

The Nomination Committee's task is to submit proposals to the 2022 Annual General Meeting regarding the election of the Chairman and other members of the Board and the auditor. The Nomination Committee shall also submit proposals for Board, committee and audit fees as well as principles for the appointment of the Nomination Committee prior to the 2023 Annual General Meeting.

Shareholders who wish to submit proposals to the Nomination Committee can do so in writing at the following address: Nomination Committee Soltech Energy AB, Tegnérgatan 1, 111 40 Stockholm. Suggestions can also be submitted by e-mail to the following address: info@soltechenergy.se

Proposals must be received by the Nomination Committee no later than March 1, 2021. The Nomination Committee's proposal will be published in connection with the convening of the Annual General Meeting.

Soltech has an offensive growth strategy with acquisitions in the solar, roof, facade and electrical engineering industries. Together, these companies will create synergy effects and build a strong group with cross-border expertise regarding sustainable solar solutions.

The Soltech Group's most recent acquisition, the electrical engineering company Neabgruppen, with business in southern Sweden, Stockholm and Norrköping, among others, has entered into a new agreement with the construction group Sefab. The agreement applies to both electrical installations and a roof-mounted solar energy solutions on Styrstad skola, which will give a sustainable solution for the next generation.

– I am grateful for the great trust we have received. Sefab is an important partner for us, not least in Östergötland, and this deepens our collaboration further. We are very much looking forward to this project and it feels extra great that in addition to electrical installations, we will also construct and install solar panels on the roof, says Pelle Norberg, CEO of Neabgruppen.

Participation in the world exhibition "Connecting Minds – Creating The Future" in Dubai is the Swedish government's single largest investment in export and investment promotion and was launched on 1 October this year.

Soltech Energy contributes to the Swedish pavilion with an integrated solar cell facade of 500 sqm and an equally large integrated solar roof that converts the sun's rays into green electricity. Soltech's partners, Nilar and Ferroamp, then assist with their solutions for storage and energy optimization of the green electricity.

Panel discussion
On Saturday 6/11 at 13.00 (CEST), 16.00 local time in Dubai (GM + 4) Soltech together with Ferroamp and Nilar arranges a panel discussion on how we create the smart energy use of the future.

During the panel discussion, the three Swedish innovation companies tell how property owners and community developers can become part of the solution for the smart electricity system of the future and contribute to the green transition. The discussion is moderated by Ann-Sofi Gaverstedt, Managing Director at Urban Systems and is also broadcasted digitally.

– It is very fun and important that Expo 2020 is now underway. The world exhibition emphasizes the importance of collaboration to create a sustainable future, something that is not least embodied by our green energy solutions that create, optimize and store energy for the pavilion. I’m looking forward to exciting days and an interesting panel discussion where we, together with Nilar and Ferroamp, help society navigate towards the green transition, says Stefan Ölander, CEO of Soltech Energy.

Here you can read more about and sign up for the panel discussion "How property owners and community developers can become part of the solution for the electricity system of the future and contribute to the green transition" and how to sign up to follow the panel discussion digitally.

https://soltechenergy.com/uploads/2021/10/Expo2020_Dubai_Panelsamtal_IN-1.pdf

If you are on site in Dubai, you are welcome to the Swedish pavilion and listen to the panel discussion, get a guided tour of the system, and then participate in our Sol-After Work after the panel discussion. If interested, contact us via info@soltechenergy.com (we will cover the ticket fee for Expo 2020 for those who contact us and participate on site)

Soltech Energy Solutions has a vast experience of green energy solutions and large-scale solar energy facilities. The company has now constructed and installed a solar power solution for the real estate company Castellum in Jönköping. The facility at Castellum's property in Jönköping will measure approximately 1,200 square meters and the property will also have a new roof by Takorama.

The solar facility will be Castellum's fiftieth. This means that the company now is halfway to reaching the goal in the climate investment "100 på sol", an investment that means that one hundred solar energy solutions will be built on Castellum's properties by 2025 at the latest.

– For several years, we have had the confidence to assist Castellum with solar energy investments, which shows a long-term perspective. This project has had high demands in terms of loadings per square meter. It therefore feels great that we now have been able to customize our efforts for Castellum, which is a property company with high ambitions for its properties, says Markus Duseus, Regional Manager at Soltech Energy Solutions.

Climate-neutral operations by 2030
For Castellum, which has the ambition of being one of Europe's most sustainable real estate companies, this facility is a milestone. Not only in the work for "100 på sol" but also towards the goal of achieving completely climate-neutral operations by 2030.

– Our goals are clear. Until 2025, one hundred larger solar power solutions will be built on our properties. With the new facility in Jönköping, we are already halfway there. We look forward to a continued cooperation with Soltech and even more solar power solutions that produce large amounts of green electricity, says Max Börling, Project Manager for Castellum's solar energy investment.

Soltech Energy Solutions has extensive experience of green energy solutions and large-scale solar energy facilities. At Logicenter’s property in Rosersberg, north of Stockholm, Soltech Energy Solutions has designed and installed a solar power solution on a roof about 2,400 m2. The facility will now be in operation and will generate large quantities of green electricity for the tenant Dustin.

– It is great that we now can put this solar project into operation for Dustin. Not least because we have been able to carry out this project with Logicenters, an exciting company with high sustainability goals. The fact that they are actively investing in solar energy solutions on its properties is evidenced by this installation and we would like to thank Logicenters for its excellent collaboration, says Markus Duseus, Regional Manager at Soltech Energy Solutions.

Solar energy key to the logistics industry
Via NREP, Logicenters has become affiliated with RE100, a global coalition of companies committed to 100% renewable energy. As part of this affiliation, Logicenters has undertaken to switch to 100 percent renewable electricity throughout all their properties by 2025. BREEAM certifications* and energy efficiency improvements to their existing real estate portfolio are some of the measures being taken to achieve this but, above all, the main focus area is solar energy.

– It is amazing that this project with Soltech Energy Solutions and Dustin has now been completed. It’s our first pilot project to certifying a completed building in accordance with BREEAM, and it is an important piece of the puzzle in our transition towards a green future. By the end of 2021, we will have gone from one certified property to having certified up to 25 of our largescale properties. In line with our ambitious sustainability goals, we aim to offset all our emissions by 2023 in accordance with our net zero target. Our ambition is also to switch to 100 percent green electricity by 2025, so this solar energy installation will be an important step towards achieving our sustainability goals, says Karin Sjövall, Head of Sustainability at Logicenters.

– We are constantly working to make the warehouse even more climate-smart. This is an important step towards our sustainability goal of having zero climate impact in the value chain by 2030. In this way, we contribute to the production of new green electricity. We are dedicated to reducing emissions in the areas we can influence in our value chain, says Henrik Lampa, Sustainability Manager at Dustin.

* BREEAM-SE is used to certify newly constructed buildings and the environmental performance of the building is assessed in a number of different areas. For example, the building’s energy consumption, indoor climate, water management and waste management are assessed and scored. The certification imposes strict requirements, creating a property that contributes significantly to a better environment, while also representing a better investment. With a BREEAM-SE certification, a property can be compared on an international market and both international and Swedish investors believe that this gives a higher value.

The preliminary result of the offering indicates that a total of 3,577,718 shares in Advanced Soltech were acquired through exercise of purchase rights, corresponding to approximately 49 per cent of the Offering. Applications to acquire a total of 902,405 Advanced Soltech shares without exercise of purchase rights, corresponding to approximately 12 per cent of the Offering, were received. Approximately 62 per cent of the Offering was thus subscribed for during the application period, which means 100 per cent of the external guarantee commitments will be utilised, corresponding to approximately 25 per cent of the Offering, and that approximately 17 per cent of the guarantee commitments from the existing principal owners Soltech Energy and Advanced Solar Power Hangzhou Inc. (“ASP”) will be utilised, corresponding to approximately 13 per cent of the Offering. Following the utilisation of guarantee commitments, the proceeds to Advanced Soltech from the Offering will in aggregate amount to approximately SEK 196 million, before deduction of expenses related to the Offering.

As communicated on 28 September 2021, Nasdaq Stockholm AB has approved Advanced Soltech’s listing application for Nasdaq First North Growth Market, subject to customary conditions. These conditions have now been fulfilled. Trading in the Advanced Soltech share on Nasdaq First North Premier are expected to commence on October 29, 2021.

Max Metelius, CEO, comments:

“As CEO of Advanced Soltech, I am proud and happy about the great interest shown for the Company during the listing process, which will be a great asset for our future growth journey. Advanced Soltech has a well-developed competency and is today an established player in the world's largest solar energy market, which together with our listing creates a solid platform for continued growth. It is with great pleasure that I welcome the new shareholders on our continued journey.”

Stefan Ölander, CEO of Soltech Energy, comments:

“I am happy and proud that Advanced Soltech now stands on their own feet after the introduction. Both companies will now have the best opportunities to focus and build value on their respective market.”

About Advanced Soltech

Advanced Soltech is a power producer of renewable electricity that finances, owns and operates rooftop-mounted solar PV installations in China. The Company enters into 20-year contracts with the owners of large properties, which undertake to purchase the produced electricity over the duration of the contract. The electricity purchased from Advanced Soltech is priced at a discount of approximately 10–15 per cent compared to the price that the customer would pay for electricity from the grid.

Advanced Soltech is headquartered in Stockholm, Sweden and the wholly-owned local operating subsidiary Advanced Soltech Renewable Energy Hangzhou Co. Ltd. (“ASRE”) is headquartered in Hangzhou, China.

ASRE was founded in 2015 as a joint venture between the Swedish solar energy company Soltech Energy and the Chinese solar panel producer ASP with the vision of accelerating the migration to renewable energy through a solar as a service offering, where the electricity produced by the solar PV installations is sold to the customers instead of the solar PV installation itself.

With its solar as a service offering, Advanced Soltech is able to create interest from previously untapped customer segments within the rapidly growing renewable energy market in China as the Company's solution offers an easy and attractive alternative to traditional solar power solutions where the property owners themselves would have to install and maintain their own solar PV panel installations.

Advanced Soltech has, as of 30 June 2021, a portfolio of 134 electricity-generating solar PV panel installations with a combined capacity of 192.5 MW and has reached a stage in its development where the business model has become commercially viable. In addition to the operating solar PV panel installations there is a pipeline of projects with a combined capacity of 123 MW. In addition, there are signed contracts corresponding to 37 MW.

Advisors

Carnegie Investment Bank AB (publ) (“Carnegie”) and DNB Markets, a part of DNB Bank ASA, Sweden branch (“DNB”) act as Joint Global Coordinators in connection with the Offering. Advokatfirma DLA Piper Sweden KB is the legal advisor to the Company and Gernandt & Danielsson Advokatbyrå KB is the legal advisor to the Joint Global Coordinators.

For further information please contact:

Frederic Telander, Working Chairman of the Board
Frederic.telander@advancedsoltech.com, +46 (0) 70 525 16 03

Max Metelius, CEO
max.metelius@advancedsoltech.com, +46 (0) 72 316 04 44

Lars Höst, CFO
lars.host@advancedsoltech.com, +46 (0) 72 229 00 36

The information in this press release has been made public through the agency of the responsible person set out above for publication on October 28, 2021 [•] CEST.

Important information

This announcement does not constitute an offer of securities in Advanced Soltech Sweden AB (publ) (the "Company") in any jurisdiction.

This announcement does not constitute a prospectus in any jurisdiction, including for the purposes of Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 on the prospectus to be published when securities are offered to the public or admitted to trading on a regulated market, and repealing Directive 2003/71/EC (together with any related implementing and delegated regulations, the “Prospectus Regulation”), and has not been approved by any regulatory authority in any jurisdiction. A prospectus in connection with the Offering will be prepared and published by the Company on the Company website. Investors should not invest in any securities referred to in this announcement except on the basis of information contained in the aforementioned prospectus.

In any EEA Member State other than Sweden, this communication is only addressed to and is only directed at qualified investors in that Member State within the meaning of the Prospectus Regulation, i.e., only to investors who can receive the offer without an approved prospectus in such EEA Member State.

The contents of this announcement have been prepared by and is the sole responsibility of the Company. The information contained in this announcement is for background purposes only and does not purport to be full or complete. No reliance may be placed by any person for any purpose on the information contained in this announcement or its accuracy, fairness or completeness.

This announcement and the information contained herein is not for publication, distribution or release, directly or indirectly, in or into Australia, Canada, Hong Kong, Japan, New Zeeland, Singapore, United Kingdom, South Africa, Switzerland, South Korea and the United States of America or any other jurisdiction where the publication, distribution or release would be unlawful. This announcement is not an offer to sell or a solicitation of any offer to buy any securities issued by the Company in any jurisdiction where such offer or sale would be unlawful.

This announcement does not constitute, or form part of, an offer to sell, or a solicitation of an offer to purchase, the shares and/or any other securities in the Company referred to in this announcement in the United States including its territories and possessions and any state of the United States. The shares and/or any other securities referred to in this announcement have not been and will not be registered under the Securities Act, or with any securities regulatory authority of any state or other jurisdiction of the United States, and may not be offered or sold within the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. The offer and sale of the securities referred to herein has not been and will not be registered under the applicable securities laws of Australia, Canada, Hong Kong, Japan, New Zeeland, Singapore, United Kingdom, South Africa, Switzerland, South Korea and the United States of America. Subject to certain exceptions, the securities referred to herein may not be offered or sold in Australia, Canada, Hong Kong, Japan, New Zeeland, Singapore, United Kingdom, South Africa, Switzerland, South Korea and the United States of America or to, or for the account or benefit of, any national, resident or citizen of Australia, Canada, Hong Kong, Japan, New Zeeland, Singapore, United Kingdom, South Africa, Switzerland, South Korea and the United States of America. There has been no and will be no public offer of securities in the Australia, Canada, Hong Kong, Japan, New Zeeland, Singapore, United Kingdom, South Africa, Switzerland, South Korea and the United States of America.

In the United Kingdom this announcement is being distributed only to, and directed exclusively at, qualified investors (i) who have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “Order”) or (ii) who fall within Article 49(2)(A) to (D) of the Order; and (iii) to whom it may otherwise lawfully be communicated (all such persons together being referred to as “Relevant Persons”). This announcement and any investment or investment activity to which it relates will only be engaged in within the United Kingdom, by persons who are Relevant Persons. This announcement should not be acted on or relied on by anyone other than Relevant Persons in the United Kingdom.

Forward-looking statements

Statements included in this announcement that are not historical facts (including any statements concerning investment objectives, other plans and objectives of management for future operations or economic performance, or assumptions or forecasts related thereto) are, or may be deemed to be, “forward-looking statements”. These forward-looking statements may be identified by the use of forward-looking terminology, including the terms “believes”, “estimates”, “plans”, “projects”, “anticipates”, “expects”, “intends”, “aims”, “targets”, “may”, “will” or “should” or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. Forward-looking statements may, and often do, differ materially from actual results. Any forward-looking statements reflect the Company’s current view with respect to future events and are subject to risks relating to future events and other risks, uncertainties and assumptions relating to the Company’s business, results of operations, financial position, liquidity, prospects, growth or strategies. Forward-looking statements speak only as of the date they are made and are subject to change without notice and do not purport to contain all information that may be required to evaluate the Company. The information included in this announcement may be subject to updating, revision and amendment and such information may change materially. No person is under any obligation to update or keep the current information contained in this announcement and any opinions expressed relating thereto are subject to change without notice.

Information to distributors

Solely for the purposes of the product governance requirements contained within: (a) EU Directive 2014/65/EU on markets in financial instruments, as amended ("MiFID II"); (b) Articles 9 and 10 of Commission Delegated Directive (EU) 2017/593 supplementing MiFID II; and (c) local implementing measures (together, the "MiFID II Product Governance Requirements"), and disclaiming all and any liability, whether arising in tort, contract or otherwise, which any "manufacturer" (for the purposes of the MiFID II Product Governance Requirements) may otherwise have with respect thereto, the shares in the Company have been subject to a product approval process, which has determined that such shares are: (i) compatible with an end target market of retail investors and investors who meet the criteria of professional clients and eligible counterparties, each as defined in MiFID II; and (ii) eligible for distribution through all distribution channels as are permitted by MiFID II (the "EU Target Market Assessment"). Solely for the purposes of each manufacturer's product approval process in the United Kingdom, the target market assessment in respect of the shares in the Company has led to the conclusion that: (i) the target market for such shares is only eligible counterparties, as defined in the FCA Handbook Conduct of Business Sourcebook, and professional clients, as defined in Regulation (EU) No 600/2014 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018 ("UK MiFIR"); and (ii) all channels for distribution of such shares to eligible counterparties and professional clients are appropriate (the "UK Target Market Assessment" and, together with the EU Target Market Assessment, the "Target Market Assessment"). Notwithstanding the Target Market Assessment, Distributors should note that: the price of the shares in the Company may decline and investors could lose all or part of their investment; the shares in the Company offer no guaranteed income and no capital protection; and an investment in the shares in the Company is compatible only with investors who do not need a guaranteed income or capital protection, who (either alone or in conjunction with an appropriate financial or other adviser) are capable of evaluating the merits and risks of such an investment and who have sufficient resources to be able to bear any losses that may result therefrom. The Target Market Assessment is without prejudice to the requirements of any contractual, legal or regulatory selling restrictions in relation to the Offering.

For the avoidance of doubt, the Target Market Assessment does not constitute: (a) an assessment of suitability or appropriateness for the purposes of MiFID II or UK MiFIR; or (b) a recommendation to any investor or group of investors to invest in, or purchase, or take any other action whatsoever with respect to the shares in the Company.

Each distributor is responsible for undertaking its own target market assessment in respect of the shares in the Company and determining appropriate distribution channels.

Soltech has an offensive growth strategy with acquisitions in the solar, roof, facade, and electrical engineering industries. Together, these companies will create synergy effects and build a strong group with cross-border expertise regarding sustainable solar solutions

The Soltech Group's most recent acquisition, the electrical engineering company Neabgruppen, wigh business in southern Sweden, Stockholm and Norrköping, among others, has now entered into a new agreement with the Norwegian building and construction group Betonmast. The agreement applies to both electrical installations in apartments and business premises, a health center section, and a roof-mounted solar energy solution.

– I am very proud that we have been entrusted to carry out this prestigious project. Betonmast is a strategically important partner for us and a reputable player, both in Norway but also in Sweden. We look forward to contributing together to the development of an area that will be characterized and built on sustainability values, says Pelle Norberg, CEO of Neabgruppen.

– I would like to congratulate the whole of Neabgruppen for this agreement, which includes both electrical technology and solar energy. Our strategy to gain both expertise and business opportunities through acquisitions of companies in the electrical engineering, roofing and facade industries has once again proved to be successful, says Stefan Ölander, CEO of Soltech Energy.

Advanced Soltech's CEO Max Metelius comments:

– We experience a strong demand for our offer and we continue to take new orders within the profitability target of 12-15% at project level that we have communicated.

Soltech Energy Solutions and Fasadsystem have a vast experience of converting properties into energy producers as a contribution to the green transition. The companies have an agreement with the real estate company Fastpartner for both an integrated solar façade and a traditional solar cell system on the roof. The property is located in Solna, just north of Stockholm. Rickard Viklund, regional sales manager at Soltech Energy Solutions, reveals more about the different solutions in the project.

– For us, it is a priority not only to be a supplier of green energy solutions, but also to be a strong partner that takes an overall responsibility. Something that this project is a clear example of. The property will have both a solar energy solution on the roof and integrated solar panels on the facade, which will then be connected to a smart energy system. This is a useful way to create and optimize renewable energy, says Rickard Viklund, regional sales manager at Soltech Energy Solutions.

New design gives life to the façade
In addition to the property having a roof-mounted solar energy solution, hundreds of square meters of solar panels will cover the façade and become an integrated solar façade. The design of the solar cell façade is tailormade specially to turn the solar panels in the best possible solar position and designed to blend in with the rest of the building. Fasadsystem has constructed the installation system based on the architect's and Fastpartner's wishes, to optimize both the function and design.

– When facade companies, solar energy companies and architects work together, the solar energy buildings of the future will be created, of which this project is a proof of. Connecting facade companies and architects early in the process is key and creates unique projects and cost efficiency right from the start, says Daniel Christiansen, project manager at Fasadsystem.

– We always strive to reduce our climate impact at all levels. Therefore, we environmentally certify our buildings and strive to develop and manage our properties with the least possible resource consumption, both to create sustainable but also attractive properties. Our upcoming property in Solna with solar panels on the roof and integrated into the facade is completely in line with our sustainability ambitions and also creates a climate property with the little extra, says Mari Lindau, area manager at Fastpartner.

Advanced Soltech's CEO Max Metelius comments:

– This order contributes to a strong order book with projects that can be quickly converted into revenue-generating assets after the listing of the company's shares on First North Growth Market on October 29, 2021.