Soltech Energy Solutions is a nationwide solar energy company that, together with other community builders, helps property owners, industries, and landowners with large-scale solar energy solutions. The company and the construction group Skanska will now build four new solar energy facilities on Skanska's properties, starting in 2022.

– It feels great to collaborate with Skanska once again, who is in the forefront regarding sustainability work. Together, we will develop and support a society where large-scale solar energy solutions give more and more properties the right tools to produce their own energy. Something that both reduces the load on the overall electricity grid and creates climate-smart businesses and we look forward to completing these solar energy projects together, says André Nylén, Key Account Manager at Soltech Energy Solutions.

Aims for climate neutrality by 2045
The roof-mounted solar energy facilities will be installed on the roofs of both logistics and industrial properties as well as a residential building. In total, the four solar cell installations will cover an area of approximately 6,000 square meters and is one of many steps towards Skanska's goal of becoming completely climate neutral by 2045.

– We clearly see that solar energy and energy efficiency are two important components in our journey towards achieving climate neutrality. For us to succeed with our high goals, it is necessary that we collaborate with partners who also put sustainability first. Therefore, we look forward to continuing developing climate-smart properties that are powered by solar energy together with Soltech in 2022, says Henrik Ahnström, Director of Product, Process & Innovation at Skanska Commercial Development Nordic.

Soltech acquired 60 percent of Measol on August 27, 2020 and is now acquiring the remaining 40 percent. An agreement was signed on December 22, and this means that Soltech is increasing its investment in solar energy installations. The company will to an even greater extent become the Soltech Group's installation company but will still offer installation services around solar energy and charging solutions to its customers.

– Measol creates great value in the Group. Installation expertise today is more in demand than ever, and it therefore feels strategically right that we develop Soltech's own installation company further. This creates even better conditions for the Group and all customers, and I am pleased that we are taking this step forward with Marcus Nylund and his skilled team, says Stefan Ölander, CEO of Soltech Energy.

The installation operations in Soltech Sales & Support joins Measol
In addition to the fact that Measol is owned to 100 percent by Soltech, the installation operation in the former subsidiary Soltech Sales & Support * will during the winter of 2022 become part of Measol. The company will be based in both Stockholm and Halmstad, as well as opening an office in Skåne during the coming year.

– This is a very positive milestone in our history. We will have even better opportunities to develop our high-quality installation business to meet the increased demand for installation services. We look forward to a 2022 where we will be an even stronger player in solar energy and charging installations on the growing market and we take our business to the next level, says Marcus Nylund, CEO of Measol.

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 hub with cross-border expertise that can offer complete solutions. The solar energy group is now acquiring two reputable companies in Falun, which strengthens Soltech's presence in Mellansverige and not least in Dalarna.

– It feels great that Soltech is now also to be found in the heart of Dalarna. Takab and Falu Plåtslageri are well-run companies with a good reputation and their will to integrate solar energy in their solutions inspires. I would like to warmly welcome Jon Onsbacke and all employees to the Group, says Stefan Ölander, CEO of Soltech Energy.

Two companies with a solid history
Takab was founded in 2004 and has since had a successful journey. In 2017, Takab's owner acquired Falu Plåtslageri, a classic sheet metal manufacturer, founded as early as 1952. Since then, the companies have been run by the same owner, Jon Onsbacke. Both companies have great ambitions to add solar energy to their offerings as they now become part of Soltech.

– This is a fantastic day for both Takab and Falu Plåtslageri. We are highly motivated to become part of the Soltech Group and to be able to continue to offer high-quality roofing, adding on solar energy solutions in the future. This will strengthen us, create new opportunities and we are looking forward to getting to know our new sister companies, says Jon Onsbacke, CEO of Falu Plåtslageri and Takab.

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 that can offer complete solutions. The acquisition of ESSA will be Soltech's second acquisition in the facade industry and establishes the solar energy group in the Örebro region.

– This acquisition strengthens our position in the facade industry, which is becoming an increasingly important segment in solar energy. We are also strengthening our presence in the strategically important Örebro region. ESSA Glas & Aluminum is run by skilled entrepreneurs with deep technical and industry expertise, and I would like to warmly welcome Ola, Örjan and their entire team to Soltech, says Stefan Ölander, CEO of Soltech Energy.

Investing in solar cell facades
ESSA was founded in 2012 and has since had a successful journey and is at the forefront of its industry. The business is run from the production facility outside Örebro and the company performs all types of exterior and interior glass solutions, with an emphasis on facade construction of commercial properties. When ESSA now becomes part of Soltech, it is a stated ambition to grow within ​​solar cell facades.

– It is a great pleasure to now be a part of the Soltech Group, something that brings great opportunities for us as a company. Both in terms of new business opportunities but also in important knowledge exchange and collaboration opportunities with our new sister companies. Becoming part of a large solar energy group will help ESSA to the next level where solar energy solutions will become a great competitive advantage for us, says Ola Karlsson, CEO of ESSA Glass & Aluminum.

The Soltech Group's latest acquisition, the electrical engineering company Neabgruppen, based in southern Sweden, Stockholm and Norrköping, has been chosen to install a full-scale electrical installation as well as a solar energy solution and has signed an agreement with the well-known construction company, ED Bygg i Sverige AB. The assignment applies to electrical installations in apartments and a green energy solution, a roof-mounted solar energy solution. The project is being developed for the real estate company AB Stångastaden.

The construction start for the electrical installations and solar energy solution is at the end of 2021 and the project is expected to be completed in 2023. Pelle Norberg, CEO of Neabgruppen, comments on the news of the collaboration with ED Bygg i Sverige AB.

– It is very gratifying that we are now strengthening our collaboration with ED Bygg further. It is a construction company that prioritizes sustainable solutions and innovation, something that is totally in line with our own ambitions. I would like to congratulate the entire Neabgruppen Region Mitt with Thomas Tyrestedt at the helm, and we are all looking forward to this project, says Pelle Norberg, CEO of Neabgruppen.

Soltech continues to deliver triple-digit growth with an increase of as much as 110% at Group level and 162% for the Swedish operations.

CEO comment:
– Rapid growth is our focus and here we really deliver again. Having 162% growth, of which 39% organic, is a sign of strength. We are in a strong position for 2022, which I am really looking forward to.

THIRD QUARTER IN BRIEF
▪ The Group's revenues in the quarter amounted to SEK 267.2 (127.2) million. An increase of 110%. The Group's organic growth amounted to 39%.
▪ Revenues in the Swedish operations increased to SEK 220.1 (84) million, an increase of 162%.
▪ Revenues in the Chinese operations amounted to SEK 47.1 (43.2) million, an increase of 9%.
▪ The Group's profit before depreciation (EBITDA) amounted to SEK 29.3 (38.9) million. The decrease was driven by continued investment in existing operations and is also
linked to component shortages and increased prices of goods.
▪ The Group's operating profit (EBIT) amounted to SEK 4.6 (23.1) million. The decrease in operating profit is due to increased amortization of goodwill, as a direct result of completed company acquisitions, as well as investments in solar energy facilities and investments in existing operations.
▪ Profit for the period after tax amounted to SEK -10.6 (-18.1) million. The result was affected by unrealized exchange rate differences in the Chinese operations by SEK 22.1 (1.3) million.
▪ Cash flow for the period from operating activities amounted to -116.9 (11.4) MSEK and has been affected by investments in existing operations and increased inventory levels to secure deliveries to existing projects.
▪ Cash flow for the Group for the period amounted to SEK 399.6 (85.5) million. As in the previous year, cash flow has been affected by the completed new share issue.
▪ Earnings per share amounted to -0.19 (-0.31).

THE FIRST NINE MONTHS IN BRIEF
▪ The Group's revenues amounted to SEK 674 M (336.1). An increase of 101%. The Group's organic growth amounted to 42%.
▪ Revenues in the Swedish operations increased to SEK 554.3 (231) million, an increase of 140%.
▪ Revenues in the Chinese operations increased to SEK 119.7 (105.1) million, an increase of 14%.
▪ The Group's profit before depreciation (EBITDA) amounted to SEK 50.3 (87.3) million. The decrease was driven by continued investment in existing operations and is linked to component shortages and increased prices of goods. EBITDA was also negatively affected by non-recurring effects of SEK 11.7 million regarding redemption of minority interests and revaluation of additional purchase prices.
▪ The Group's operating profit (EBIT) amounted to SEK -15.6 (43.9) million. The decrease in operating profit is due, in addition to what is stated in the previous point, to increased
amortization of goodwill, as a direct result of completed company acquisitions, as well as investments in solar energy facilities and investments in existing operations.
▪ Profit for the period after tax amounted to SEK -60.6 (-60.6) million. The result was affected by unrealized exchange rate differences in the Chinese operations by 58.7 (-4.8) MSEK.
▪ The Corona pandemic has affected the Swedish operations mainly in the form of increased transport costs and price increases for, among other things, solar panels. The order entry is still good in the quarter.
▪ The Chinese operations were affected to a lesser extent by the Corona pandemic and, according to the company's estimate, an impact of SEK -1.4 (-2.0) million as a result of the general price reduction on electricity remaining.

SIGNIFICANT EVENTS DURING THE THIRD QUARTER
Sweden
▪ The Board of Directors of Soltech Energy Sweden AB decided on 13 August 2021 to carry out a new share issue of approximately SEK 247 million with preferential rights to existing
shareholders and a possible over-allotment of approximately SEK 150 million. The rights issue was oversubscribed by 166% and the company was thus provided with SEK 397 million before issue costs.
▪ On 22 September, the Board of Directors of Soltech Energy Sweden AB decided to list the ordinary shares in the subsidiary Advanced Soltech Sweden AB on Nasdaq First North Growth Market.
▪ As of August 30, Soltech Energy has acquired 90.1% of the shares in Wettergrens Tak & Plåtslageri AB (Wettergrens) with access on September 2, 2021.
▪ Soltech Energy has decided to merge the operations of the three wholly owned subsidiaries MeraSol AB, Swede Energy Power Solutions AB, and most of the operations in Soltech Sales & Support AB. The new company is called Soltech Energy Solutions 1988 AB.
▪ Soltech Energy's subsidiary, Swede Energy, has entered into an agreement for what will be the Nordic region's largest roof-placed solar cell plant, both in terms of area and power. The area is 65,000 m2.

China
▪ During the quarter, ASAB's subsidiary in China, ASRE, signed new orders amounting to a total installed capacity of 13.6 MW.
▪ At the end of the period, the company had 51 (55) MW in signed orders, as well as projects under processing of 125 (134) MW.
▪ During the period, SEK 71 million was added before issue costs in new issues of preference shares.
▪ The Chinese operations are granted unsecured local bank loans of CNY 40 million (approximately SEK 54 million) at an interest rate of approximately 4.6%.

SIGNIFICANT EVENTS AFTER THE REPORTING PERIOD
▪ As of October 1, Soltech Energy has acquired 100% of the shares in the electrical engineering company NEAB Gruppen AB.
▪ Soltech Energy participates in the world exhibition Expo 2020 in Dubai Oct 2021 – March 2022, where Soltech installed a 500 m2 sunroof and 500 m2 sun facade on the Swedish pavilion.
▪ Nomination Committee prior to the Annual General Meeting on 12 May 2022 in Soltech Energy Sweden AB (publ) has been appointed.
▪ On 28 October, the Government decided on an amendment to the ordinance that will be introduced on 1 January 2022, which allows transfer of energy between several units without the requirement for a network concession. It can be expected to improve opportunities and reduce the cost of solar investment in larger properties
▪ On October 29, 2021, Soltech Energy Sweden AB's subsidiary Advanced Soltech Sweden AB (ASAB) was listed on the Nasdaq First North Growth Market. This meant that Soltech Energy AB's ownership interest in the company after IPO and conversion of preference shares decreased from 50.73% to 29.35%. Furthermore, this meant that Soltech Energy Sweden AB no longer has the controlling influence over ASAB and that as of October 29, 2021, ASAB is no longer reported as a subsidiary in the parent company and the group. As of October 30, 2021, ASAB will be reported in the consolidated financial statements as an associated company according to the equity method.

In connection with the special listing, a revaluation result arises in the Group. Preliminarily, the revaluation result amounts to approximately SEK 287 million based on preliminary consolidated values ​​as of the divestment date for ASAB. The revaluation result does not affect cash flow and will be reported in the fourth quarter of 2021.

Following the listing, Soltech Energy Sweden AB owns 11,373,941 number of shares in ASAB with a book value of SEK 27 per share, corresponding to the value per share on the day of the listing. Following the listing, Soltech Energy Sweden AB in the Group reports SEK 307 million in participations in associated companies. Other significant effects on the balance sheet for the Soltech Group are that fixed assets decrease by approximately SEK 1.3 billion, of which solar energy facilities amount to approximately SEK 1.2 billion and that long-term liabilities decrease by approximately SEK 1 billion, of which bond loans amount to approximately SEK 0.9 billion.

Soltech's holdings in ASAB continue to be reported quarterly in operating profit and consist of Soltech Energy Sweden AB's share of profit in ASAB, amortization of surplus values ​​in solar energy plants, deferred tax and currency translation of surplus values.

The share price of ASAB has developed positively since the IPO on October 29, with a closing price on November 29 of SEK 59.6 / share, which corresponds to a value of approximately SEK 640 million for Soltech's shares.

Soltech has an offensive growth strategy with acquisitions in the solar, roof, facade, and electrical engineering industries. Together, we will create synergy effects and build a strong group with cross-border expertise for all types of solar solutions.

One of the group's companies, the roofing company NP Gruppen has signed a new agreement with the housing cooperative Schaletten-Modisten in Fruängen, south of Stockholm. The contract and project start will be in the first quarter of 2022 and be completed in the third quarter. The agreement applies to both roofing and a roof-mounted solar panels on one of the houses.

– I am very proud of this project, which includes roofing in combination with solar energy solutions. It suits us perfectly and we look forward to the project start, says Patrik Pettersson, CEO of NP Gruppen.

One guarantee for the whole installation
As NP Gruppen both lays the roof and installs the overhead solar energy solution, they will give one guarantee for the whole contract. This is not always the case with solar installations. If the roof is constructed by a roofing company and the solar energy installation by another company and the later happens to damage the newly laid roof during the solar installation, the guarantee does not apply. According to Patrik Pettersson, being able to perform both roofing and solar energy installations is therefore a major competitive advantage and a huge security for the customer.

– The question of guarantees is becoming more common as the number of roof-mounted solar energy installations increases. For us, it is therefore a competitive advantage to be able to offer guarantees when we construct and install both a new roof and a solar energy solution. We also notice that our customer appreciates to have one and the same contractor who takes responsibility for the entire project, from roof to solar panel, concludes Patrik Pettersson.

Now, three of the Soltech Group's solar energy companies have merged to form Soltech Energy Solutions, who will be a driving force in the green transition and a market leader in the solar energy industry towards the B2B market in Sweden.

– With Soltech Energy Solutions, we become an even stronger part to build a green society. The merger gives us increased strength in our aim to become a branch leader in energy solutions with solar energy as a platform. Both through large-scale solar energy solutions such as solar parks and roof-placed solar facilities, but also through technically advanced solutions such as system balancing and energy storage. The desired position is to meet the increased electrification and power shortage. This point is undoubtedly found at the intersection between solar energy and tech solutions, and this is exactly where we position ourselves, says Christoffer Caesar, CEO of Soltech Energy Solutions.

Creates the smart real estates of the future
At the same time as the rapidly increasing electrification of the society is happening, Swedish companies suffer from power shortages and electricity prices are increasing in high speed, the need for smart cities and smart properties, that not only produce green energy but also store energy and optimize the use, are enormous. Soltech Energy Solutions therefore aims to transform the real estate portfolio to create profitable and intelligent buildings that become a natural part of a climate-smart society.

– We create direct societal benefits by transforming traditional to becoming smart energy hubs that together form the smart city of the future. We will do this by continuing to offer high-quality solar energy solutions, but also by adding smart control and storage of the energy so that it is used when it is needed the most. In this way, we increase the competitiveness of Swedish companies and make them less sensitive to fluctuating electricity prices and rampant power charges, says Christoffer Caesar.

Three priority areas for Soltech Energy Solutions:

• Large-scale solar energy solutions
Soltech Energy Solutions supplies both roof-placed solar energy solutions, solar facades, and large ground-mounted solar parks. In 2022, Soltech Energy Solutions will install Sweden's largest integrated solar façade and the Nordic region's largest roof-mounted solar energy solution.

• The smart city
We need to create smart cities to reduce our carbon emissions. Cities can no longer just generate emissions, but also need to compensate for their own climate impact. By establishing smaller, local solar facilities and a reliable energy storage and charging infrastructure, Soltech Energy Solutions wants to create the smart cities of the future where energy is produced, stored, and used decentralized where it is needed.

• The smart property
To only establish solar energy systems on the roofs of properties is to think too small-scale. To really make a difference, we need to build smarter properties. Smart solutions for energy storage and control that optimize energy use are crucial. The intelligent property will then use self-produced renewable energy when the need is greatest. This is both sustainable and profitable.

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.