Soltech Energy Solutions is one of Soltech’s companies active in the above areas. The company has now entered into a collaboration with Hylte Paper in Halland. This is in line with the Soltech Group’s strategy to develop overall solutions in solar energy, energy storage, arbitrage, control and optimization together with the customers. Solutions that create value for the customer and for Soltech as well as contributing to society’s green transition.
 
Hylte Paper produce sustainable paper products and is a part of the Sweden Timber Group, which produces wood products and biocomposite granulates where wood replace plastics.
 
This project contributes to Hylte’s continued development of its green energy supply and in extension a green forestry, through an increased utilization rate of its self-produced green electricity and the possibility of storage energy and use it when needed the most. The solution also enables reduced power peaks and support services to the regional electricity grid.
 
Hylte Paper already has a biomass boiler that contributed with green base power to the electricity grid. They will now also be able to support the electricity grid with flexibility, something that enables the expansion of solar and wind power and is important for Sweden to be a leader in the green transition.
 
– We are very pleased to enter into a long-term strategic energy collaboration with Hylte Paper. With tech and sustainability as business drivers, we contribute to a well-established industrial company being able to develop its green energy supply and at the same time support the electricity grid. We see this as proof that Soltech as a green community builder is at the forefront of the overall solutions that tomorrow’s electricity grid requires, says Rickard Lantz, Business Development Manager at Soltech Energy Solutions.

E-Mobility is a company within the Soltech Group with specialist expertise in large-scale electric car charging installations and high-efficiency charging infrastructure. The company has now entered into a technology development agreement with the metal company Boliden. The agreement means that E-Mobility will develop and sell mobile charging containers to Boliden, which will then charge battery-powered mining machines down in their underground mine in Kristineberg.

The tech solution that is currently being developed is a mobile charging station in the form of charging containers that are adapted for the underground environment in the mine. The solution will be easy to move as the mine is gradually expanded. The investment is part of Boliden’s focus on expanding its charging infrastructure to get one step closer to realizing the fully electric mine of the future.

– We are very pleased to have been entrusted with carrying out a product development that places high demands on innovation and technical expertise. The mobile charging stations for the mining machines will save a lot of time, space and create a smarter charging infrastructure in the mining system. It would surprise me if more metal and mining companies didn’t start looking at this type of tech solution and follow in Boliden’s footsteps, says Martin Götesson, CEO of E-Mobility.

Photo: Soltech/Boliden/Tomas Westermak

Speech by the CEO

The CEO of the Company presented the financial year 2023, the strategic direction going forward as well as the board of directors’ dividend policy. The Company’s dividend policy is to distribute 30-50 percent of the group profit after tax to shareholders. Dividends are proposed by the board of directors and decided by the general meeting, taking into account the Company’s financial targets and growth prospects.

Adoption of the income statement and the balance sheet

The AGM resolved to adopt the income statement and the balance sheet in Soltech and the consolidated income statement and the consolidated balance sheet.

Allocation of profit

The AGM resolved that no dividend would be paid to the shareholders and that the previously accrued results, including the share premium account and year result, would be carried forward.

Discharge from liability

The board of directors, the managing director and the former managing director, Stefan Ölander, were discharged from liability for the financial year 2023.

Election of remuneration, the board of directors, auditor and chairman to the board

In accordance with the nomination committee’s proposal, the AGM resolved that the remuneration to the board of directors is to be SEK 1,500,000 in total, and shall be paid to the board of directors in the following amounts:

• SEK 300,000 for each of the directors and SEK 600,000 to the chairman (same as previous year); and
• If the board establishes committees, the fee for each member shall be SEK 40,000 and the fee for the chairman of the committee shall be SEK 60,000.

It was further resolved that the auditor shall be entitled to a fee in accordance with approved invoice.

In accordance with the nomination committee’s proposal, the AGM resolved that the board of directors shall comprise of four directors. The AGM resolved that the number of auditors shall be one registered audit firm.

In accordance with the nomination committee’s proposal Stefan Ölander was re-elected as director of the board. Ivana Stankovic, Ove Anebygd and Bernt Ingman were elected as new directors.

Stefan Ölander was elected as chairman of the board.

Öhrlings PricewaterhouseCoopers AB was elected as the Company auditor in accordance with the audit committee’s proposal. Öhrlings PricewaterhouseCoopers AB has announced that Claes Sjödin will continue to act as main responsible auditor.

Adoption of principles for the nomination committee

It was resolved to adopt principles for the nomination committee in accordance with the nomination committee’s proposal, to apply until further notice.

Amendment of the articles of association

The AGM resolved, in accordance with the board of directors’ proposal, to introduce a new provision in the Company’s articles of association which enables the board to resolve that a general meeting may be held digitally.

Authorization for the board to issue shares, warrants and/or convertibles

The AGM resolved, in accordance with the board of directors’ proposal, to authorize the board of directors during the period up until the next annual general meeting to, on one or more occasions, resolve to issue shares, warrants or convertibles with the right to subscribe for and convert for shares, respectively, with or without preferential rights for the shareholders, within the limits of the articles of association, to be paid in cash, in kind and/or by way of set-off.

The minutes from The Annual General meeting will be published on the Company’s website https://soltechenergy.com/en/investors/#corporate-governance

CEO comment:

In the first quarter, the Group’s net sales amounted to SEK 513.1 (680.2) million. The sales decline is primarily explained by lower activity in the consumer market for solar energy in all regions and by strong comparative figures in the same period in 2023. Looking at the Group’s other services in roofing, façade and electrical engineering, demand generally remained stable. The quarter was also seasonally characterized by customary lower activity with a smaller share of ongoing projects.

EBITA was impacted by the lower volume. Some cost adjustments were also made during the quarter to meet the changed market conditions. Cash flow from operating activities was positive.

Even though the solar energy market slowed down in the quarter, solar energy is an industry of the future and an increasingly important part of the energy transition. Our strategy is to continue to focus on quality, profitability and end-to-end solutions, as well as developing, transforming and growing our subsidiaries, but also to acquire new businesses when the market situation is more favorable.

Together with our driven entrepreneurs and employees, we will build an increasingly stronger group with the goal of increasing long-term shareholder value – and being a growing enabler for the green transition.

THE FIRST QUARTER IN BRIEF

• Net sales amounted to SEK 513.1 million (680.2)
• The Group’s organic growth amounted to -26% (66)
• EBITDA amounted to SEK -0.5 (6.7) million. EBITDA margin amounted to -0.1% (1)
• EBITA amounted to SEK -15.1 (-4.5) million. EBITA margin amounted to -2.9% (-0.7)
• Profit after tax for the period in the quarter amounted to SEK -32.2 million (-39)
• Cash flow from operating activities amounted to SEK 40 (-46.6) million. Cash flow for the quarter amounted to SEK 45.4 M (-41.5)
• Earnings per share before and after dilution amounted to SEK -0.24 (-0.30)

SIGNIFICANT EVENTS DURING THE QUARTER:

• In January, the Board of Directors decided on a new financial five-year target, which means that the Soltech Group will deliver revenues of SEK 8,000 million in the 2028 financial year with a profitability of 10% (EBITA)
• In March, Patrik Hahne was appointed new CEO of Soltech, starting on April 2, 2024
• Soltech’s Nomination Committee has submitted a proposal for the composition of the Board of Directors for resolution at the Annual General Meeting on May 21, 2024. Stefan Ölander, CEO of Soltech from September 2018 to April 1, 2024, is proposed as new Chairman of the Board.

SIGNIFICANT EVENTS AFTER THE REPORTING PERIOD:

• Patrik Hahne took over as the new CEO of Soltech on April 2, 2024
• Acquisitions have been made of minority shares in Annelunds Tak, Ljungs Sedum and Wettergrens Tak, which are now wholly owned subsidiaries
• A merger has been carried out between Wettergrens Tak and Plåtteamet i Örnsköldsvik AB and between TG:s El i Finspång AB and Smart Solkraft i Sverige AB
• The Öringe solar park has been commissioned with an installed capacity of 5.8 MW and an expected annual production of 5.7 GWh

The quarterly report and other financial reports are available at: https://soltechenergy.com/en/investors/

Soltech Energy Solutions is one of the Soltech Group’s operating companies in advanced energy systems, energy storage and large-scale solar energy solutions. In July 2023, the start of construction of the Soltech Group’s own solar park of approximately 70,000 sqm in Getinge, just outside Halmstad, was announced. The installation is now up and running and has started selling green electricity to the grid. The solar park is expected to generate revenues of approximately SEK 150 million during its lifetime**.

– We proudly announce that Soltech’s own solar park now is ready to produce and sell solar electricity to the local electricity grid. The solar park pinpoints how we use sustainability as a business driver to develop solutions that create long-term value. Both through recurring revenues for the Group and because the solar park increases the share of solar energy in the energy mix, says Christoffer Caesar, CEO of Soltech Energy Solutions.

Sustainability through several aspects
The location of the solar park was chosen based on solar radiation and for minimal impact on the surroundings. In addition to electricity production, the solar park will also create conditions for increased biodiversity in the area, for example through the sowing of flowering meadow plants and the placement of nests for pollinators and insect hotels. In this way, the production of green solar electricity is combined with increased biodiversity in the area.

– In the design and construction of the solar park, we have carefully protected the surrounding nature and environment, which is important to us. I would like to express my appreciation to the entire team that has been involved in developing Öringe solpark. From the location of the land, permit processes, grid connection, installation and now finally commissioning, concludes Christoffer Caesar.

Facts – this is Öringe solpark:

• It’s a facility developed and built by Soltech Energy Solutions from idea to operation
• The plant has an installed capacity of 5.8 MW, with a total of 8,780 solar panels
• The solar park will produce approximately 5.7 GWh of electricity annually
• Through initiatives such as placing nests for pollinators, insect hotels and sowing of meadow plants, the solar park will contribute to increased biodiversity in the area

*household electricity consumption calculated on 5,000 kWh/year.** The solar panels are expected to generate revenues of approximately SEK 3.5 million annually at a spot price of 50–60 öre. In addition, revenues from the support service FCR-D, linked to the solar panels, are added, which are estimated to contribute SEK 0,2–0,5 million annually. The lifespan of a solar park is estimated at about 40 years.

– Looking back at the 2023 financial year, we can conclude that despite challenging external factors, such as increased geopolitical and macroeconomic uncertainty, we managed to deliver good results in many areas. For the full year 2023, we reach net sales of SEK 2,904 million, which is an increase of 50 percent, and EBITDA is improved to SEK 128.5 million from SEK -19.8 million, compared to 2022, says Patrik Hahne, CEO of Soltech Energy.

The Soltech Group now has approximately 1,000 employees, operating in Sweden, the Netherlands and Spain and has increased its revenues of SEK 50 million in 2018 to almost SEK 3,000 million in 2023.

For a complete report of the 2023 accounts, please refer to the attached annual report including the auditor’s report.

The annual report in its entirety, including the auditor’s report, is also available to read and download from Soltech Energy Sweden AB’s website: https://soltechenergy.com/en/investors/

Anyone who wishes to order a printed annual report is welcome to do so via Info@soltechenergy.com

(The annual report will be published in English shortly)

Right to attend the annual general meeting and notice
Shareholders who wish to attend the general meeting must:

1. on the record date, which is Monday 13 May 2024, be registered in the share register maintained by Euroclear Sweden AB (for nominee registered shares, also see below under the heading “Nominee registered shares”); and
2. notify the Company of their participation and any assistants (no more than one) in the general meeting no later than Wednesday 15 May 2024. The notification shall be in writing to Baker & McKenzie Advokatbyrå KB, Attn: Elsa Sefastsson, Box 180, 101 23 Stockholm (kindly mark the envelope “Soltech annual general meeting “), or via e-mail: elsa.sefastsson@bakermckenzie.com. The notification should state the name, personal/corporate identity number, shareholding, share classes address and telephone number and, when applicable, information about representatives, counsels and assistants. When applicable, complete authorization documents, such as registration certificates and powers of attorney for representatives and assistants, should be appended the notification.

Nominee registered shares
Shareholders, whose shares are registered in the name of a bank or other nominee, must temporarily register their shares in their own name with Euroclear Sweden AB in order to be entitled to participate in the general meeting. Such registration (so-called voting rights registration), which normally is processed in a few days, must be completed no later than on Monday 13 May 2024 and should therefore be requested from the nominee well before this date. Voting registration requested by a shareholder in such time that the registration has been made by the relevant nominee no later than on Wednesday 15 May 2024 will be considered in preparations of the share register.

Proxy etc.
A shareholder who wishes to be represented by proxy shall issue a written and dated proxy to the proxy holder. If the proxy is issued by a legal entity, a certified copy of the registration certificate or corresponding document (“Registration Certificate“) shall be enclosed. The proxy must not be more than one year old, however, the proxy may be older if it is stated that it is valid for a longer term, maximum five years. The proxy in original and the Registration Certificate, if any, must be available at the general meeting and a copy should well before the meeting be sent to the Company by regular mail or by e-mail to the address above and should, in order to facilitate the entrance to the general meeting, be at the Company’s disposal no later than on 15 May 2024.

A form proxy will be available on the Company’s website www.soltechenergy.com.

Proposed agenda

1. Opening of the meeting and election of chairman of the meeting
2. Preparation and approval of the voting list
3. Approval of the agenda
4. Election of one or two persons to certify the minutes
5. Examination of whether the meeting has been duly convened
6. Speech by the CEO
7. Presentation of the annual report and the auditor’s report and the group annual report and the group auditor’s report for the financial year 2023
8. Resolution regarding:

1. adoption of income statement and balance sheet and the group income statement and the group balance sheet
2. the profit or loss of the Company in accordance with the adopted balance sheet; and
3. discharge from liability for the board of directors and the CEO

1. Determination of fees to the board of directors and to the auditors
2. Determination of the number of directors and auditors
3. Election of the board of directors and auditors
4. Election of chairman to the board
5. Resolution regarding adoption of principles for the nomination committee
6. Resolution regarding amendments of the articles of association
7. Resolution regarding authorization for the board to issue shares, warrants and/or convertibles
8. Closing of the meeting

Proposition for resolution

Item 1: Opening of the meeting and election of chairman of the meeting
The board of directors proposes that Carl Svernlöv, attorney at law, Baker & McKenzie, is appointed as chairman of the annual general meeting.

Item 8.b: Resolution regarding adoption of income statement and balance sheet and the group income statement and the group balance sheet
The board of directors proposes that all funds available for the annual general meeting shall be carried forward.

Item 9-12: Determination of fees to the board of directors and to the auditors, determination of the number of directors and auditors, election of the board of directors and auditors, and election of chairman to the board
The nomination committee proposes the following:

The nomination committee proposes that the remuneration to the board of directors is to be SEK 1,500,000 in total, and shall be paid to the board of directors in the following amounts:

• SEK 300,000 for each of the directors and SEK 600,000 to the chairman (same as previous year); and
• If the board establishes committees, the fee for each member shall be SEK 40,000 and the fee for the chairman of the committee shall be SEK 60,000.

The nomination committee proposes that the auditor shall be entitled to a fee in accordance with approved invoice.

The nomination committee proposes that the board shall consist of four directors. The nomination committee further proposes that the number of auditors shall be one registered audit firm.

The nomination committee proposes re-election of Stefan Ölander as director and election of Ivana Stankovic, Ove Anebygd and Bernt Ingman as new directors until the end of the next annual general meeting. Furthermore, Stefan Ölander is proposed to be elected as new chairman of the board of directors.

The nomination committee proposes to re-elect the registered audit firm PricewaterhouseCoopers AB as auditor for the period until the end of the next annual general meeting. PricewaterhouseCoopers AB has announced that the authorized auditor Claes Sjödin will continue as main responsible auditor in case they are elected as auditor.

The nomination committee’s complete proposal and motivated opinion as well as further information regarding the proposed directors are available at the Company’s website www.soltechenergy.com.

Item 13: Resolution regarding adoption of principles for the nomination committee
The nomination committee proposes that the following principles for the nomination committee are adopted, to apply until further notice:

Role of the nomination committee

The Company shall have a nomination committee with the task of preparing and proposing decisions to the annual, and as applicable extra, shareholders’ meetings on electoral and remuneration issues and, where applicable, procedural issues for the appointment of the subsequent nomination committee. The nomination committee is to propose:

• the chairman of the annual general meeting;
• candidates for the post of chairman and other directors of the board;
• fees and other remuneration to each director;
• fees to members of committees within the board;
• election and remuneration of the Company auditor; and
• principles for the nomination committee.

The nomination committee shall in its assessment of the evaluation of the board an in its proposal in particular take into consideration the requirement of diversity and breadth on the board and strive for equal gender distribution.

Regardless of how they have been appointed, the members of the nomination committee are to promote the interests of all shareholders of the Company.

Members of the nomination committee

The nomination committee shall consist of four members, of whom three shall be nominated by the Company’s three largest shareholders by voting power and the fourth shall be nominated by the largest shareholder who is independent in relation to the Company and its management[1].The chairman of the board shall as soon as reasonably practicable after the end of the third quarter, in an adequate manner, contact the three owner-registered largest shareholders, by voting power, according to the share register maintained by Euroclear Sweden AB at that time as well as the largest independent shareholder and request that they, taken into consideration the circumstances, within reasonable time which cannot exceed 30 days, in writing to the nomination committee nominate that person whom the shareholder wishes to appoint as member of the nomination committee. If any of the three largest shareholders do not wish to exercise their right to appoint a member of the nomination committee, the next shareholder in consecutive order shall be entitled to appoint a member of the nomination committee. In the case that several shareholders abstain their right to appoint a member of the nomination committee, the chairman of the board shall not be required to contact more than eight shareholders, unless it is necessary in order to obtain a nomination committee consisting of a minimum of three members. If the largest independent shareholder does not wish to exercise its right to appoint a member of the nomination committee, the next independent shareholder in consecutive order shall be entitled to appoint a member of the nomination committee. In the case that several independent shareholders abstain their right to appoint a member of the nomination committee, the chairman of the board shall not be required to contact more than eight shareholders, unless it is necessary in order to obtain a nomination committee consisting of a minimum of three members.

Unless otherwise agreed between the members, the chairman of the nomination committee shall be nominated by the largest shareholder by voting power.

If a member nominated by a shareholder, during the year ceases to be one of the Company’s three largest shareholders by voting powers due to disposal of its holding, the member nominated by such shareholder shall resign from the nomination committee. Instead, a new shareholder among the three largest shareholders shall be entitled to independently and in its sole discretion appoint a member of the nomination committee. However, no marginal changes in shareholding and no changes in shareholding which occur later than three months prior to the annual general meeting shall lead to a change in the composition of the nomination committee, unless there are exceptional reasons.

If a member of the nomination committee resigns before the nomination committee has completed its assignment, for reasons other than set out above, the shareholder who is nominated by such member shall be entitled to independently and in its sole discretion appoint a replacement member.

[1] For assessment of independence from the company and its management, see section 4.4 of the Swedish Corporate Governance Code.

Announcement of the nomination committee members

The chairman of the board shall ensure that the names of the members of the nomination committee, together with the names of the shareholders of whom they have been nominated, are published on the Company’s website no later than six months before the annual general meeting.

If a member leaves the nomination committee during the year, or if a new member is appointed, the nomination committee shall ensure that such information, including the corresponding information about the new nomination committee member, is published on the website.

A change in the composition of the nomination committee shall be published immediately.

Proposals to the nomination committee

Shareholders shall be entitled to propose board members for consideration by the nomination committee. The nomination committee shall provide the Company with information on how shareholders may submit recommendations to the nomination committee. Such information will be announced on the Company’s website.

The chairman of the board of directors shall keep the nomination committee informed about the work of the board of directors, the need for particular qualifications and competences, etc., which may be of importance for the work of the nomination committee.

Proposals by the nomination committee

When preparing its proposals, the nomination committee shall take into account that the board of directors is to have a composition appropriate to the Company’s operations, phase of development and other relevant circumstances. The directors shall collectively exhibit diversity and breadth of qualifications, experience and background. The nomination committee shall further strive for equal gender distribution.

The nomination committee shall provide the Company with its proposals for board members in such time that the Company can present the proposals in the notice of the shareholders’ meeting where an election is to take place.

When the notice of the shareholders’ meeting is issued, the nomination committee shall issue a statement on the Company’s website explaining its proposals regarding the composition of the board of directors. The nomination committee shall in particular explain its proposal against the background of the requirement to strive for an equal gender distribution. The statement is also to include an account of how the nomination committee has conducted its work. In case a resigning managing director is nominated for the position of chairman of the board of directors, the nomination committee shall specifically explain the reasons for such proposal.

The nomination committee shall ensure that the following information on candidates nominated for election or re-election to the board of directors is posted on the Company’s website at the latest when the notice to the shareholders’ meeting is issued:

• year of birth, principal education and work experience;
• any work performed for the Company and other significant professional commitments;
• any holdings of shares and other financial instruments in the Company owned by the candidate or the candidate’s related natural or legal persons;
• whether the nomination committee deems the candidate to be independent from the Company and its executive management, as well as of the major shareholders in the Company. If the committee considers a candidate independent regardless of the existence of such circumstances which, according to the criteria of the Swedish Code of Corporate Governance, may give cause to consider the candidate not independent, the nomination committee shall explain its proposal; and
• in the case of re-election, the year that the person was first elected to the board.

Account of the work of the nomination committee

All members of the nomination committee, where possible, and as a minimum one of the members, shall be present at the annual general meeting.

The nomination committee shall at the annual general meeting, or other shareholders’ meetings where an election is to be held, give an account of how it has conducted its work and explain its proposals against the background of what is provided above about the composition of the board. The nomination committee shall in particular explain its proposal against the background of the requirement above to strive for an equal gender distribution.

Fees and Costs

No fee shall be payable by the Company to any member of the nomination committee.

The Company shall bear all reasonable costs associated with the work of the nomination committee. Where necessary, the nomination committee may engage external consultants to assist in finding candidates with the relevant experience, and the Company shall bear the costs for such consultants. The Company shall also provide the nomination committee with the human resources needed to support the nomination committee’s work.

Confidentiality

A member of the nomination committee may not unduly reveal to anyone what he/she has learned during the discharge of his/her assignment as a nomination committee member. The duty of confidentiality applies to oral as well as written information and applies also after the assignment has terminated.

A nomination committee member shall store all confidential materials that he/she receives by reason of the nomination committee assignment in a manner so that the materials are not accessible to third parties. After the assignment has terminated, a nomination committee member shall hand over to the chairman of the board all confidential materials that the nomination committee member has received in his/her capacity as nomination committee member and still has in his/her possession, including any copies of the materials, to the extent reasonably possible taking into account inter alia technical aspects.

The chairman of the nomination committee may make public statements about the work of the nomination committee. No other nomination committee member may make statements to the press or otherwise make public statements regarding the Company and the Company group unless the chairman of the board has given permission thereto.

Item 14: Resolution regarding amendments of the articles of association
The board of directors of the Company proposes that the annual general meeting resolves to amend the Company’s articles of association as follows:

It is proposed that the Company’s company object is changed. The articles of association § 3 will thereby have the following wording:

“The company shall directly or indirectly, through wholly or partly owned subsidiaries, conduct contracting, consulting, sales and service activities in solar energy and related industries, and own and manage movable and immovable property and conduct activities compatible therewith. In addition, the company shall provide intra-group services such as administration, financial support and conduct activities compatible therewith.“

It is proposed that the provision on attendance at the general meetings be adjusted due to a change in the law. The articles of association, § 9, will thereby have the following wording:

“A shareholder that wishes to participate in a general meeting must be recorded in a printout or other transcript of the share register on the date as specified on the Swedish Companies Act, and notify the company of his/her, and any advisors (no more than two), intention to attend the meeting no later than on the date stated in the notice of the meeting. Such a date may not be a Sunday, other public holiday, Saturday, Midsummer Eve, Christmas Eve or New Year’s Eve and may not occur earlier than the fifth weekday prior to the general meeting.”

It is further proposed that the articles of association be given a separate provision on the collection of proxies and postal voting, which was previously regulated under the same provision as participation at general meetings, § 9. The articles of association will thereby include a new § 10 with the following wording and subsequent provisions in the articles of association are renumbered:

“The board of directors may collect proxies at the company´s expense in compliance with procedure set out in chapter 7 section 4 paragraph 2 of the Swedish Companies Act (2005:551).

The board of directors may resolve, ahead of a general meeting of the shareholders, that the shareholders shall be entitled to exercise their voting rights by post prior to the meeting.”

It is also proposed to introduce a new provision which enables the board to resolve that a general meeting may be held digitally. The articles of association will thereby include a new § 11 with the following wording and subsequent provisions in the articles of association are renumbered:

“A general meeting of the shareholders is to be held at the registered office of the company. The board of directors may also resolve that the general meeting shall be held digitally in accordance with the provisions of chapter 7 section 15 of the Swedish Companies Act (2005:551).“

It is proposed that the provision regarding central securities depository registration be adjusted to better align with current practice for VPC-registered companies. The articles of association, § 14, will thereby have the following wording:

“A shareholder or nominee that is registered in the share register and a CSD register on the record date, in accordance with Ch. 4 the Central Securities Depositories and Financial Instruments Accounts Act (SFS 1998:1479), or registered in a CSD account pursuant to Ch. 4 Sec. 18 first § item 6-8 of the aforementioned act, is deemed to have the right to exercise the rights stipulated in Ch. 4 Sec. 39 the Swedish Companies Act (SFS 2005:551).”

It is further proposed some minor adjustments in the wording of the articles of association.

It is finally proposed that the board of directors or a person appointed by the board of directors be authorized to make such minor adjustments in the above resolution that may be required in connection with the registration with the Swedish Companies Registration Office.

Item 15: Resolution regarding authorization for the board to issue shares, warrants and/or convertibles
The board of directors of the Company proposes that the annual general meeting resolves to authorize the board of directors during the period up until the next annual general meeting to, on one or more occasions, resolve to issue shares, warrants or convertibles with the right to subscribe for and convert for shares, respectively, with or without preferential rights for the shareholders, within the limits of the articles of association, to be paid in cash, in kind and/or by way of set-off.

The purpose for the board to resolve on issuances with deviation from the shareholders preferential rights in accordance with the above is primarily for the purpose to raise new capital to increase flexibility of the Company and a possibility to advance the development of the Company’s business or in connection with acquisitions and to diversify the shareholder base.

Issuances of new shares, convertibles or warrants under the authorization shall be made on customary terms and conditions based on current market conditions. If the board of directors finds it suitable in order to enable delivery of shares in connection with a share issuance as set out above it may be made at a subscription price corresponding to the shares quota value.

The board of directors or anyone appointed by the board of directors is given the right to make the adjustments necessary in connection with the registration of the resolution at the Companies Registration Office.

Majority requirements
Resolutions in accordance with items 14 and 15 are valid when supported by shareholders representing at least two-thirds of the votes cast and the shares represented at the general meeting.

Number of shares and votes
The total numbers of shares and votes in the Company on the date of this notice are 132,279,393. The Company holds no own shares.

Other
The annual report with the auditor’s report, the complete proposals, proxy form and other documents that shall be available in accordance with the Swedish Companies Act are available at the Company premises, Birger Jarlsgatan 41A, 111 45 Stockholm, and at the Company’s website, www.soltechenergy.com, at least three weeks in advance of the general meeting and will be sent to shareholders who request it and provide their e-mail or postal address.

The shareholders are hereby notified regarding the right, at the annual general meeting, to request information from the board of directors and managing director according to Ch. 7 § 32 of the Swedish Companies Act.

Processing of personal data
For information on how personal data is processed in relation the meeting, see the Privacy notice available on Euroclear Sweden AB’s website: https://www.euroclear.com/dam/ESw/Legal/Privacy-notice-bolagsstammor-engelska.pdf.

______________________________

Stockholm April 2024
Soltech Energy Sweden AB (publ)
The board of directors

Takbyrån was founded in 2014 and specializes in roofing contracting and solar energy services for private individuals and companies. In 2021, the company became part of the Soltech Group and has in recent years been transformed into a solar roof company, in line with Soltech’s transformation strategy. In 2023, Takbyrån also made a bolt-on acquisition when Vårgårda Solenergi became part of Takbyrån. The bolt-on acquisition helped strengthen the company’s expertise in solar energy and accelerated the transformation to become a solar roof company.

The transformation creates competitive advantages and business opportunities as the company can now offer solar energy solutions to existing customers. Something that has now happened when Takbyrån are going to install a 2,300 sqm solar system for Börjessons Bil i Alingsås on a roof that they themselves previously laid. Solar energy manager Daniel Fritzon tells us more about the assignment and the advantage of having both roofing and solar energy competence within the company.

– We are grateful for the confidence shown in us by Börjessons Bil, which is now making a major climate investment. The fact that we have been entrusted with this project shows that our investment in both roofing and solar energy creates major business advantages for us. It also feels great to contribute to our customers’ green transition through our broadened offering, says Daniel Fritzon, Solar energy manager at Takbyrån i Alingsås.

Fasadsystem i Stenkullen have been part of the Soltech Group since 2020. They offer different types of solar facades and roof-mounted solar energy solutions, in addition to the core competence in façade contracting as well as glass and aluminum work. The company is now broadening its product offering as it launches its innovation consisting of mobile and foldable solar panel modules.

What distinguishes Fasadsystem’s new solar solution from other similar products is that the solar module is foldable. This creates great advantages when storing the solar modules and when transporting them to the next construction site or modular building.

– We see a great demand from companies in the modular property industry to be able to offer a solar energy concept to their customers. The construction industry also wants to reduce its climate impact, and solar energy solutions on construction sheds are a smart alternative. I am convinced that our customers will appreciate that the product is foldable, which is convenient when it comes to inventory management and transport of the solar modules, says Daniel Christiansen, solar energy manager at Fasadsystem.

Increased sustainability requirements from municipalities and companies
In addition to Fasadsystem’s new solution being offered to construction companies, whose construction sites are often major consumers of electricity, demand is also increasing among rental companies of modular properties. The reason for this is, among other things, increased sustainability requirements from the modular building rental companies’ customers, who are often found in the public sector. A sector with increasingly high sustainability goals. Private companies have also raised their sustainability ambitions, which is why the requirements for modular and temporary buildings are also increasing.

– When we talk to companies in the modular property industry, we experience two clear wishes. Both the desire to find new and sustainable offerings to reduce their own and their customers’ environmental impact, but also the demand for flexible and easy-to-use products. I think our new solar innovation meets both sides and we at Fasadsystem are proud to now launch a new green product on the market for construction sheds and temporary buildings, concludes Daniel Christiansen.

This is how Fasadsystem’s mobile and foldable solar modules work:

• Flexible for different modular building sizes
• Rotatable depending on direction
• No impact on the roof surface
• Foldable for easy transport
• Cost-effective in inventory management and storage
• Inverters, cables and transport racks included
• Manufactured in Fasadsystem’s factory in Gothenburg with the possibility of at least 75% recycled aluminium

The solar energy company Sud Renovables became part of the Soltech Group in 2022. The company, with approximately 150 employees, is active in solar energy and storage solutions. The projects often consist of large-scale solar cell facades, roof-mounted photovoltaic systems, floating installations but also solar energy and energy storage solutions for private individuals and companies.

The company is now installing one of its largest projects to date. These are large-scale solar energy solutions consisting of several types of installations on and around a logistics property in Amposta in Catalonia.

More than 8,400 panels and an installed capacity of 4.7 MW are currently being installed on the roofs of the properties, in a directly connected ground-based solar park and on the roofs of the property’s parking lots. The solar panels on the parking roofs will provide the employees’ electric cars with electricity through EV charging points that are also installed by the company.

– Sud Renovables is proud to be able to help Saica with several innovative installations. In this project, the space is used to the maximum so that we can install as many solar energy solutions as possible. The warehouse will soon be largely powered by solar energy and the staff’s electric cars will be charged using the sun’s rays, says Alfred Puig, CEO of Sud Renovables.

Solar energy on the rise in Spain
The Spanish solar energy market has been one of Europe’s fastest growing markets for years. In addition to good solar radiation, the combination of political easing and high electricity prices creates very good conditions for solar energy players in the country. The Spanish government also aims to significantly increase the share of renewable energy in the coming years and in 2023 alone, the share of solar energy in Spain’s energy mix increased from 10.1 percent to 14.6%. *

– It feels both good and important that the share of solar energy in the Spanish energy mix is increasing. As a company, we are strongly equipped to meet the demand for all types of installations, regardless of whether they are on roofs, façades, land or on water, concludes Alfred Puig.

* https://reglobal.org/outlook-for-solar-power-development-in-spain-france-and-greece/