28. February 2023
Aega ASA had revenues of EUR 562 thousand in the fourth quarter of 2022 (Q4 2021
EUR 482 thousand). EBITDA was positive with EUR 244 thousand (341). For the
year, we see an EBITDA of EUR 912 thousand compared to EUR 389 thousand the
previous year, an increase of around 134%. The figures reflect the company's
increased production and capacity in the period.

"Aega delivers positive EBITDA for the seventh consecutive quarter. We now
consider ourselves to have a very good platform for further development and
growth. In the current quarter, the focus will be on continued development and
improvement of production, as well as running a cost-effective operation.
Throughout 2022, volatility in the energy market has been a returning topic and
political intervention in price formation has affected us - and other Italian
solar energy producers - throughout the year", says Nils P Skaset, CEO of Aega
ASA.

The Italian energy situation:
"The energy situation in Italy has been challenging both for consumers and
regulatory authorities throughout the quarter and the year 2022. We now see that
the Italian gas inventories have a fill rate of more than 80%. This is
significantly higher than a year ago, and indicates that Italy's goal of being
independent of Russian gas by the end of 2023 is achievable. The price of
electricity largely follows the price of gas and today everything points to the
price-cap imposed will be removed from 1 July, as the authority has
communicated. We are satisfied to see that our business models are conservative
enough and have considered prices in the range we have experienced, and at the
same time look forward to being able to sell our electricity in a market without
a price cap in the second half of 2023," Skaset adds.

Attached is the company's fourth quarter report.

For more information contact

Nils P. Skaset, CEO
+47 951 88 154
ceo@aega.no

About Agea
Aega ASA is an energy company listed on Euronext Expand in Oslo. Aega's main
focus is the solar power market. The company acquires and operates smaller
existing Italian solar power plants. In addition to being an industrial energy
producer we also consider investments in the solar and renewable energy sector.
The company's head offices are in Oslo (NO) and Trento (IT). 

For more information, see www.aega.no

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