Adoption of income statement and balance sheet
The Annual General Meeting approved the income statement and balance sheet for the Parent Company as well as the consolidated income statement and consolidated balance sheet for the 2020 financial year.

Disposition of results
The Annual General Meeting resolved that no dividend be paid for the 2020 financial year and that the accumulated profit be transferred to a new account in accordance with what appears from the administration report.

Board of Directors and CEO
The Annual General Meeting granted the Board members and the President discharge from liability for the 2020 financial year.
The Annual General Meeting elected the Board members Anna Kinberg Batra (re-election), Göran Starkebo (re-election), Stefan Ölander (re-election), Hellen Wohlin Lidgard (new election), Jimmie Wiklund (new election) and Mats Holmfeldt (new election). Anna Kinberg Batra was elected Chairman of the Board (re-election).
Auditors

The Annual General Meeting resolved to re-elect the registered auditing company PwC with the authorized public accountant Claes Sjödin as the principal auditor.
Board and auditor fees

The Annual General Meeting resolved that board fees shall be paid in the amount of SEK 400,000 to the Chairman of the Board and SEK 200,000 each to other Board members. The AGM resolved that fees to members of established committees shall be paid at SEK 40,000 per person and committee. A member who is reimbursed by the company due to employment shall not, however, receive board fees, either in the parent company or subsidiaries.

Other proposals and decisions
The Annual General Meeting resolved to approve the Board's proposal in accordance with the notice of:
– Changes in the Articles of Association:
o Increase of the share capital to a minimum of SEK 2,000,000 and a maximum of SEK 6,000,000
o The number of shares is a minimum of 40,000,000 and a maximum of 120,000,000
o Change the company name to Soltech Energy Sweden AB
o That a summons has been issued shall be announced in Dagens Industri
o Election of chairman and nomination committee principles are added to the AGM agenda
– Renewed authorization to decide on a new issue of shares and / or convertibles and / or warrants.

Despite the Corona pandemic affecting society to a greater extent in the first quarter of this year compared with 2020, Soltech succeeds in delivering very strong growth. The Group’s revenues increase by as much as 175% to SEK 145.2 million and the Swedish operations increase by as much as 212% to SEK 118.1 million.

CEO comment:
– Our focus is growth and I am very pleased with our performance during the first quarter, which in terms of revenue is the toughest quarter of the year in our industries.

First quarter in brief
• The Group’s revenues in the quarter amounted to SEK 145.2 (52.8) million. An increase of 175%
• Revenues in the Swedish operations grew to SEK 118.1 (37.8) million, an increase of 212%
• Revenues in the Chinese operations grew to SEK 27.11 (15) million, an increase of 81%

• The Group’s profit before depreciation (EBITDA) amounted to SEK -8.3 (-1.3) million. EBITDA was negatively affected by non-cash affecting effects of SEK -11.7 million as a result of increased targets and forecasts, which led to an increase in provisions for additional earn out costs

• The Group’s operating profit (EBIT) amounted to SEK -28.4 (-14.7) million. EBIT has been negatively affected by non-cash affecting effects of SEK -11.7 million as above

• Profit after tax for the period amounted to SEK -18.2, (-5.5) million. The result was affected by unrealized exchange rate differences in the Chinese operations by SEK 40.1 (34.8) million and by non-cash affecting effects of SEK -11.7 million as above

• Cash flow for the period from operating activities amounted to -4.7 (-17.3)
• The period’s cash flow for the Group amounted to SEK -101.7 (-61.4) million
• Earnings per share amounted to -0.33 (-0.05)
• Covid-19 affected the Swedish operations in the first quarter, mainly in the form of postponed projects. However, order intake remains good

Significant events during the first quarter

Sweden
• Soltech acquired 76% of the shares in Annelunds Tak AB and 52% of the shares in Ljungs Sedum Entreprenad AB
• Soltech acquired the remaining 40% of the shares in the subsidiaries Swede Energy and Merasol to create the best conditions to become an even larger player in the solar energy market. Soltech now owns 100% of both companies, which strengthens the offer in the corporate and real estate market in solar energy
• Soltech acquired 100% of the electrical engineering company Provektor Sweden and its subsidiaries
• Six of Soltech's subsidiaries have together received the order to build the Nordic region's largest solar façade project with an order value of SEK 12 million
• New solar collaboration has begun between Soltech's subsidiaries Soldags and LRF, which will make it easier for more farmers to become micro-producers of solar energy.
• Soltech's Chairman of the Board Anna Kinberg Batra was elected new Chairman of the Board of Swedish Solar Energy
• Soltech sponsors the Architecture Gala

China
• Soltech's subsidiary in China, ASRE, signed seven orders during the quarter, which in total are expected to generate annual revenues of SEK 11.1 million, or approximately SEK 221.6 million during the agreements' 20-year maturities
• The Soltech Group is awarded a prize in China as “The most influential solar investment company 2020”
• During the quarter, Soltech's subsidiaries in China connected a total of 5.8 MW of roof-based solar power plants and had a total of 182.4 MW in producing plants at the end of the quarter.

Significant events after the reporting period
• Soltech acquired 100% of the shares in Rams El.
• Soltech's subsidiaries Swede Energy and Castellum win the Solar Energy Award 2021 in the category “Plant of the Year”. The winning facility is Hisingen Logistics Park with a roof-mounted solar cell facility of 30,000 m2
• Soltech's subsidiary Swede Energy is building a 3,000 m2 solar cell plant at the e-retailer Matsmart's central warehouse in Örebro
• Soltech's subsidiary in China, ASRE, has signed three orders that are estimated to generate annual revenues of SEK 1.2 million, or approximately SEK 31.4 million during the agreements' 20-year maturities

Provektor is Soltech's first acquisition in the electrical engineering industry and the company will have a central role in Soltech's offensive growth strategy with acquisitions in the solar, roofing, facade and electrical engineering industries. These various companies' cutting-edge expertise and given role in solar energy build a strong group for the benefit of customers and shareholders.

The acquisition of Provektor in financial terms:
• The acquisition payment for 100% of the shares amounts to SEK 53 million
• The acquisition is paid for with an initial cash portion of SEK 20 million and with newly issued Soltech shares to a value of SEK 25 million
• After 12, 24 and 36 months, a total of approximately SEK 6.7 million / year can be paid out in a variable additional purchase consideration if the set sales and profitability targets are achieved. Which would give a total acquisition payment of SEK 65.1 million
• The acquisition of Provektor is financed entirely from its own cash and with newly issued Soltech shares
• The acquisition also includes the wholly owned company Afsens Fastighetsbolag AB, which includes three properties. Provector's operations in Skara, Lidköping and Töreboda are conducted in these properties. The book residual value amounts to SEK 22.2 million and the properties are mortgaged to SEK 14.4 million
• Soltech and Provektor's assessment is that the acquisition will contribute approximately SEK 133 million in sales during the financial year 2021 (ten months) and with a positive operating profit of approximately 6% of sales. During the years 21-22-23, Provektor is estimated to contribute with more than SEK 500 million in sales and with an operating profit of 7-8%
• Provektor will add solar energy to its product range and be a competence partner in electricity, charging and storage for its sister companies
• Synergy effects in purchasing, marketing, HR, finance and administration will have a positive effect on sales and earnings throughout the Group through this acquisition

Soltech's CEO Stefan Ölander comments:
– Provektor adds expertise and business opportunities to Soltech that we have to some extent lacked. I see this acquisition as a milestone and am happy and proud that Provektor's owners chose to sell to us. Their corporate culture is characterized by competence and entrepreneurship, which is a perfect match with Soltech.

Provector's CEO Kenneth Johansson comments:
– Soltech feels like a perfect owner because most customers nowadays demand solar energy. In order for Provektor to continue to be the leading player in our region, we must add solar energy to our offering and now it will be much easier as we are part of Soltech.

Continued strong growth in 2020

Fourth quarter in brief
• The Group's revenues in the quarter amounted to SEK 159.3 (67.5) million. An increase of 136%
• Revenues in the Swedish operations grew to SEK 118.1 (56.4) million, an increase of 110%
• The Group's profit before depreciation (EBITDA) amounted to SEK 14.5 (-3.2) million.
• The Group's operating profit (EBIT) amounted to SEK -1.3 (-13.4) million. An improvement of 90%
• Profit for the period after tax amounted to SEK -80.6 (-39.6) million. The result was affected by unrealized exchange rate differences in the Chinese operations by SEK -29.2 (-8.2) million. This does not affect cash flow
• Cash flow for the period from operating activities amounted to -30.6 (67.9)
• The period's cash flow for the Group amounted to SEK 27.2 (-1.7) million. The cash flow for the period was, among other things, positively affected by the completed new share issue
• Earnings per share amounted to SEK -0.67 (-0.71)
• No dividend is proposed
• Covid-19 had a major impact on the Swedish operations in the fourth quarter, mainly in the form of postponed projects. However, order intake remains good
• Revenues from operations in China were negatively affected in the quarter by approximately SEK 1 million as a result of the temporary price reduction for electricity introduced by the state NDRC in order to stimulate the Chinese economy after the pandemic
• During the quarter, 33.3 MW was connected and a total of 176.6 (139) MW of installed capacity (solar power plants) at the end of 2020

January – December in summary
• Total operating income amounted to SEK 500 M (303.6). An increase of 65%
• The Group's operating profit before depreciation (EBITDA) amounted to SEK 101.8 (65.4) million. An increase of 56%
• The Group's operating profit (EBIT) amounted to SEK 42.7 (24.8) million. An increase of 72%
• Profit for the year after financial items, currency effects and tax amounted to SEK -141.2 (-45.8) million. Currency effects of unrealized exchange rate differences in the Chinese operations have affected earnings by SEK -42.8 (1.8) million
• Covid-19 affected the Swedish operations during the year and mainly in the form of deferred projects driven by deferred customer meetings, orders and the fact that it took longer for customers to be able to make decisions with an estimated negative effect of approximately 15% on sales
• Covid-19 is estimated to have had a negative impact on revenues in the Chinese operations of approximately SEK 13.5 million. This is partly due to a general price reduction and that approximately 30 MW were shut down during the first and second quarters and that lower activity among customers resulted in lower electricity consumption, which led to a larger share of electricity being sold to the grid where ASAB is paid less. Furthermore, covid-19 has led to poorer conditions in the capital markets, which through poorer borrowing conditions caused higher costs than planned

Significant events during the fourth quarter
Sweden

• Soltech’s subsidiary Soltech Sales & Support AB has received an order to deliver semi-transparent solar cells in four different colors to the parking garage “Mölnlycke fabriker” with end customer Wallenstam. Order value approximately SEK 7 million
• Soltech’s subsidiary Fasadsystem will contribute to the construction of a new Biltema facility in Partille, as well as the expansion of Mio furniture department store in Frölunda with a total order value of SEK 7.5 million.
• Soltech’s subsidiary NP Gruppen delivered a new waterproofing roof including solar energy and charging posts. The project is carried out together with the sister company Measol. The order value was approximately SEK 4.5 million.
• Soltech’s subsidiary Merasol begins energy conversion projects together with Nexion Enertech for HSB and BRF Solängen in Alingsås. Merasol will deliver a solar system and roof with a total order value of approximately SEK 4 million.
• Soltech’s subsidiary Swede Energy received approximately SEK 10 million of solar energy deal from MatHem / Logistic Contractor with construction starting in 2021
• Soltech’s subsidiary Takorama has signed an agreement with Tuve Bygg AB regarding the rebuilding of the roof of the operating room at Norra Älvsborgs Sjukhus (NÄL) in Trollhättan. The order value is approximately SEK 11.8 million with project start in 2021
• Investment by the Swedish state in renewable energy, which includes tax reductions for the installation of solar cells and storage for private individuals as well as an increased power limit for energy tax to 500 kW for self-used electricity

China
• During the quarter, Soltech’s subsidiary in China, ASRE, signed nine orders that are expected to generate a total annual revenue of SEK 13.3 million, or approximately SEK 265.5 million during the agreements’ 20-year maturities
• ASRE awarded prize in China as “Top 10 Industrial and Commercial Distributed Solar Power Station Builders in 2020”
• Soltech’s subsidiary ASAB issued additional preference shares corresponding to SEK 26.1 million during the quarter
Significant events after the reporting period
• Soltech acquired 76% of the shares in Annelunds Tak AB and 52% of the shares in Ljungs Sedum Entreprenad AB. The companies have a total of 18 employees and are expected to contribute SEK 60 million in sales and SEK 6 million in operating profit in the coming years.
• Soltech acquired the remaining 40% of the shares in the subsidiaries Swede Energy and MeraSol to create the best conditions to become an even larger player in the solar energy market. Soltech now owns 100% of both companies, which strengthens the offer in the corporate and real estate market in solar energy.
• Soltech’s subsidiary in China, ASRE, has signed orders that are estimated to generate annual revenues of just over SEK 10.2 million, or approximately SEK 203 million during the agreements’ 20-year maturities
• The effects of Covid-19 are difficult to assess and we are following developments closely

The CEO has the floor

Continued strong growth in a growing market
We are proud of our strong growth despite the difficult conditions caused by the Corona pandemic in 2020. We deliver 65 percent growth at Group level and 74 percent growth in the Swedish operations. Thus, we continue our journey towards 4.7 billion in turnover in 2024, which was communicated in November 2019.
Unfortunately, the Group's earnings on the bottom line for 2020 are strongly affected by, above all, unrealized currency losses and high interest costs in our Chinese operations. The management of Advanced Soltech is working hard to reduce these effects in the future and the project to list the company separately continues together with Carnegie and DnB. It is worth pointing out that we see good opportunities for continued strong growth in the Chinese operations, even after the completion of the special listing.

Continued strong interest from the market
We are very proud of the great interest we encounter from the stock market. We now have about 60,000 owners, which is more than most companies on the stock exchange's A-list. I would like to take this opportunity to once again thank all the shareholders who in the autumn participated in our successful rights issue when we raised SEK 144 million. At that time we were about 30,000 owners, so now we have been joined by as many more.

Growth continues in an expansive phase
The solar energy market with everything around in the form of storage, charging and control is growing explosively in Sweden and throughout the world. Today, about 1% of Swedish electricity comes from solar energy, which means that Sweden is far behind other comparable countries. But more and more private and commercial property owners are realizing that solar energy benefits both the climate and the economy, as evidenced by demand.

With a new green deduction for private individuals and an increase in the power limit for large roof installations, both of which will be introduced in 2021, the opportunities for continued Swedish market growth are very good. There, Soltech is well equipped to be one of the strongest players for both large property owners and the private homeowner.
Our organic growth in our subsidiaries will be good and if we add the business opportunities our acquisition strategy provides, the billion SEK barrier should be within reach. We are a growth company with ambitious goals. In 2018, we had sales of approximately SEK 50 million, two years later we have increased tenfold to approximately SEK 500 million and in November 2019 we communicated a goal to turn over SEK 4.7 billion in 2024, this goal remains.

Corona pandemic's impact on Soltech
The corona pandemic has affected the whole world, including Soltech. During the fourth quarter, we experienced greater problems with the Corona pandemic than during the first nine months. It is mainly in sales where both the opportunity to conduct physical meetings and travel is limited even more. We also experience longer decision-making processes with customers. In total, within the entire Group, we estimate that the Corona pandemic affected sales negatively by approximately 15 percent. Despite this, we reach our goal of approximately SEK 500 million in sales.

The acquisition strategy resulted in eight new subsidiaries
In just two years, Soltech has become an efficient acquisition company at the same time as dynamic development takes place in the existing companies. During the latter part of 2020 and the beginning of 2021, we see a clearly increasing trend in terms of incoming inquiries if we are interested in acquiring companies. We have succeeded in establishing ourselves as a serious, entrepreneur-friendly and decision-making buyer and this attracts direct contacts with companies, but many company brokers also come to us with their assignments. We meet companies every week and constantly have a number of negotiations underway. We look forward to more companies in the Soltech family.

Advanced Sotech, our business in China
We are proud that under very difficult conditions we managed to increase our installed base from 139 megawatts to 176.6 megawatts during the past year. Demand for our offer is high and confidence in the future is strong. However, the result on the last line is strongly affected by, above all, unrealized currency losses, high interest costs and depreciation in our Chinese operations. The management of Advanced Soltech is working hard to reduce these effects in the future and the project to list the company separately continues together with Carnegie and DnB. All shareholders will receive information about the special listing by letter when the schedule is ready.

The green recovery
The corona pandemic has fundamentally changed the world. The years 2020 and 2021 will go down in history as very difficult years, both in terms of human and financial suffering. But it also forces politicians to make strong decisions about how to stimulate the economy. For all companies in solar energy and cleantech, these are positive times when these stimuli give us great opportunities to increase our business. Now the world has a chance to invest in long-term sustainable climate-smart alternatives and we are ready to take our responsibility by growing strongly. The better it goes for Soltech, the more benefit we make in the green transition.

Our journey has just begun
We are now primarily investing in developing our thirteen subsidiaries and getting the greatest possible synergy effects. We are already seeing positive signals, not least in purchasing, sales and recruitment. Our second focus is to continuously acquire more companies in the solar energy, roofing, facade and electricity industries. After two years and thirteen acquisitions, we have created a good process and we see great opportunities in the market that we will take advantage of.

I look forward to an exciting 2021 and to leading the company into the future with the board and our competent employees. You are warmly welcome to continue with us on the journey.

Sincerely,
Stefan Ölander, CEO

Soltech continues to grow and delivers a strong third quarter with a 46 percent increase in sales and a 45 percent increase in operating profit (EBIT). During the first half of the year, we completed four acquisitions and during the third quarter, four more were completed.

CEO comment:
– We live in a new reality with the pandemic hanging over us. At Soltech, however, we see signs of an even stronger market for our competitive offerings when both
Private individuals, companies and the public sector are investing more and more in solar energy

Third quarter in brief

• The Group's revenues in the quarter amounted to SEK 127.2 (87.3) million. An increase of 45.7%

• Revenues in the Swedish operations grew to SEK 84 M (51.9), an increase of 61.8%

• The Group's profit before depreciation (EBITDA) amounted to SEK 38.9 (30.2) million. An increase of 28.8%

• The Group's operating profit (EBIT) amounted to SEK 23.1 (15.9) million. An increase of 45.3%

• Profit for the period after tax amounted to SEK -18.1 (6.4) million. The result was affected by unrealized exchange rate differences in the Chinese operations by SEK -8.5 (10.8) million

• The period's cash flow for the Group amounted to 85.5 (-76.3) MSEK. The cash flow for the period was, among other things, positively affected by completed new issues

• Earnings per share amounted to -0.31 (0.13)

• Covid-19 is estimated to have had a certain impact on the Swedish operations in the quarter, but order intake is still good

• Operations in China have made a strong quarter with 38.4 million kWh produced. However, revenues were negatively affected in the period by approximately SEK 2 million due to temporary price reductions on electricity as a direct result of Covid-19. The quarter was also affected by unrealized price effects in the Chinese operations of a total of SEK -8.5 (10.8) million. A total of 143 MW of installed capacity (solar power plants) at the end of the quarter

First nine months in summary

• Total operating income amounted to SEK 336.1 (236.1) million. An increase of 42.4%

• The Group's operating profit before depreciation (EBITDA) amounted to SEK 87.3 (68.6) million. An increase of 27.3%

• The Group's operating profit (EBIT) amounted to SEK 43.9 (38.2) million. An increase of 14.9%

• Profit for the period after financial items, currency effects and tax amounted to SEK -60.6 (-6.2) million

• Covid-19 had a certain impact on Swedish operations during the period. The primary effects have been deferred customer meetings and orders

• Covid-19 is estimated to have had a negative impact on revenues in the Chinese operations during the period of approximately SEK 12.5 million. The reasons for this are due to the fact that a larger than normal share of the electricity produced has been sold to the grid instead of directly to the customer and then at a lower price per kWh. Some customers' production facilities in China were also closed until the end of May

Significant events during the period

• During the quarter, Soltech's subsidiary in China, ASRE, signed five orders that are estimated to generate a total annual revenue of SEK 12.7 million, or approximately SEK 253.9 million under the agreements 20-year maturities

• The Board of Directors of Soltech Energy Sweden AB (publ) decided, with the support of the Annual General Meeting's authorization, to carry out a rights issue of approximately SEK 98 million to finance continued expansion through acquisitions and to develop existing subsidiaries. In addition to the rights issue, there was an opportunity to decide on an over-allotment issue of SEK 46 million. The rights issue was oversubscribed by 590 percent, the over-allotment issue was completed in full and Soltech received a total of just over SEK 144 million before issue costs

• Soltech acquired 60 percent of the shares in Miljö & Energi Ansvar Sverige AB with access on September 1, 2020

• Soltech's subsidiaries, Swede Energy, Soltech Sales & Support and Measol will build Sweden's largest solar and direct current plant with Ferroamp. The order value is just over SEK 3 million

• Soltech and PowerCell Sweden AB (publ) have signed a Nordic co-operation agreement to develop solutions for customers that include both the Soltech Group's products for solar energy and PowerCell's products for storage.

• Soltech's subsidiary, Advanced Soltech, raises SEK 131.5 million before issue costs via subscription of newly issued preference shares. This is in order to take advantage of the business opportunities the company has in China. Soltech continues to own more than 50% of the shares in Advanced Soltech after the issue

• In connection with the Government's budget bill, two important changes were announced for the Swedish solar energy market. The kW limit for tax liability for self-produced solar energy is proposed to be raised at the turn of the year, from the current 255 kW installed power to 500 kW. At the same time, a new deduction is also proposed for the installation of green energy (private households). This includes both solar cells and charging options for e-cars, among other things

• Eurocommercial Properties chose Soltech's subsidiary Swede Energy Power Solutions as a partner in its investment in Solenergi. Eurocommercial Properties installs solar energy at its remaining shopping centers in Sweden and a total of 1,658 kWp of solar energy solutions will be installed, which is estimated to produce approximately 1,473,709 kWh / year

• Soltech acquired 80 percent of the shares in Takrekond in Småland AB and 100 percent of the shares in Takrekond in Kalmar AB with access on October 1, 2020

• Soltech acquired 60 percent of the shares in Din Takläggare i Värmland Dalsland AB with access on 1 October 2020

Significant events after the reporting period

• Soltech's subsidiary Soltech Sales & Support has received orders via Bergman and Höök Byggnads AB to deliver semi-transparent solar cells to the end customer Wallenstam. Order value approx. SEK 7 million

• Soltech's subsidiary in China, ASRE, has signed orders that are estimated to generate annual revenues of just over SEK 1.9 million, or approximately SEK 38.7 million during the agreements' 20-year maturities

The terms of the issue of preference shares have been formulated with a forthcoming listing in mind. JOOL Corporate Finance AB has acted as the Company's Corporate Finance advisor in the transaction. SIP Nordic Fondkommission AB has been the organizer and Roschier Advokatbyrå AB legal advisor.

Advanced Soltech's CEO, Max Metelius comments:

• It is very gratifying to see the great interest in investing in Advanced Soltech and we welcome our new shareholders on our continued growth journey. We have a very strong order book and the capital from the issue will primarily be invested in new solar energy facilities, but we will also invest in strengthening important functions within the company prior to the listing. Work on the listing is proceeding according to plan.

Advanced Soltech's Certified Adviser is FNCA, Tel: 08-528 00 399 E-mail: info@fnca.se

About the Operations in China
The operations in China are conducted in Advanced SolTech Renewable Energy (Hangzhou) Co. Ltd, ASRE, its wholly owned local subsidiaries and in Longrui Solar Energy (Suqian) Co. Ltd. The business model consists of financing, installing, owning and managing solar energy installations on customers' roofs in China. The customer does not pay for the plant, but instead undertakes to buy the electricity that the plant produces under a 20-year agreement. Current income comes from the sale of electricity to customers and from various forms of subsidies per kilowatt hour (kWh) of solar produced. The goal is to have an installed capacity of 1,000 megawatts (MW) by 2023, which is fully connected to the electricity grid by 2024.

CEO Stefan Ölander in a comment:
– We are humbly grateful for the trust existing and new shareholders have shown us in this new share issue. We now have the funds we need to exploit the potential of the rapidly growing market and to continue our successful acquisition strategy.

Number of shares and Over-allotment
A total of 7,759,307 shares were subscribed for with the support of subscription rights, corresponding to approximately 95 percent of the Rights Issue, and 48,607,379 shares without the support of subscription rights, corresponding to approximately 595 percent of the Rights Issue. The rights issue was thus oversubscribed by 590 percent.

To enable allotment to those stakeholders who have not been allotted in the Rights Issue and for the purpose of broadening and strengthening the Company's ownership base, the Board has decided to issue an additional 3,840,000 shares in an Over – allotment issue. This is done at a subscription price of SEK 12 per share, which gives approximately SEK 46 million, and on the terms stated in the prospectus regarding the Rights Issue, which gives approximately SEK 98 million.

Through the Rights Issue and the Over-allotment Issue, a total of 12,012,423 shares will be issued and the Company will thus receive SEK 144,149,076 million before issue costs.

Allocation in the Rights Issue
The persons who have subscribed for shares on the basis of subscription rights have been allotted BTA in connection with simultaneous payment. Notice of allotment to the persons who have subscribed for shares without the support of subscription rights is expected to be distributed on 10 September 2020 by sending a settlement note. Allocation to the persons who have subscribed for shares via the nominee is expected to be visible in the account around 15 September 2020. Nominee-registered shareholders will be notified of the allotment in accordance with the respective nominee's routines. Subscribed and allotted shares must be paid for in cash no later than the settlement date, 15 September 2020, in accordance with the instructions on the settlement note. Only those who receive an award will be notified.

Allocation in the Over-Allocation Issue
Notice of allotment to the persons who have subscribed for shares without the support of subscription rights is expected to be distributed on 10 September 2020 by sending a settlement note.

Three groups of investors will be allotted shares in the Over-allotment Issue:

The Board has decided to give a large number of new owners the opportunity to participate in the over-allotment issue with a small investment to further broaden the shareholder base in the Company.

In order to open up a new circle of owners of professional investors, the Board has also decided to give investors who have shown special interest in Soltech, and who are judged to be able to contribute strategically to the Company's development, a certain opportunity to participate in the allotment issue.

Finally, it has been decided that key personnel within all ten of the Soltech Group will be given the opportunity to participate in the over-allotment issue in order to create loyalty, long-term perspective and commitment.

Share capital and number of shares
Following the registration of the Rights Issue and the Over-allotment Issue with the Swedish Companies Registration Office, the Company's share capital will increase by SEK 600,621 to a total of SEK 3,460,969. The number of shares in the Company will thereafter increase by an additional 12,012,423 shares to a total of 69,219,387 shares.

Paid subscribed shares, BTA
Subscription of shares with and without preferential rights took place during the period 24/8 – 7/9 2020. As soon as the share capital increase has been registered with the Swedish Companies Registration Office, paid subscribed shares (BTA) in the rights issue will be converted into new shares. Until then, trading with BTA on the Nasdaq First North Growth Market. Trading in new shares is expected to begin on Nasdaq First North Growth Market around week 41 2020. The persons allotted shares in the directed Over-allotment Issue will not receive BTA but will instead be allotted shares after the share capital increase has been registered with the Swedish Companies Registration Office. This is expected to take place around week 40 2020.

Advanced Soltech's CEO, Max Metelius comments:
China continues to recover from the Corona pandemic and we see strong demand for our offering with many business opportunities as a result. We have several large projects with good profitability in our pipeline and in order not to lose momentum on our growth journey, we now want to investigate the possibility of raising capital in the form of a preference share issue, which also strengthens the company's equity.

For more information contact:
Max Metelius, CEO Advanced Soltech Sweden AB (publ) Tel: 072- 316 04 44. Email: max.metelius@advancedsoltech.com

About the Operations in China
The operations in China are conducted in Advanced SolTech Renewable Energy (Hangzhou) Co. Ltd, ASRE, its wholly owned local subsidiaries and in Longrui Solar Energy (Suqian) Co. Ltd. The business model consists of financing, installing, owning and managing solar energy installations on customers' roofs in China. The customer does not pay for the plant, but instead undertakes to buy the electricity that the plant produces under a 20-year agreement. Current income comes from the sale of electricity to customers and from various forms of subsidies per kilowatt hour (kWh) of solar produced. The goal is to have an installed capacity of 1,000 megawatts (MW) by 2023, which is fully connected to the electricity grid by 2024.
ASRE and Longrui Solar Energy (Suqian) Co. Ltd. are wholly owned subsidiaries of Advanced Soltech Sweden AB (publ). ASAB is 51% owned by Soltech Energy Sweden AB (publ) and 49% by Soltech's Chinese partner, Advanced Solar Power Hangzhou Inc.