Etrion Corporation Closes Books on Corporate Bond Refinancing

March 28, 2014, Geneva, Switzerland – Etrion Corporation (“Etrion” or the “Company”) (TSX: ETX / OMX: ETX), a solar independent power producer, announces closing of books for a new EUR 80 million secured bond in the Norwegian bond market. The new bond has an annual interest rate of 8.0% and matures in April 2019.

Net proceeds from the bond issue will be used to refinance the Company’s existing EUR 60 million corporate bond that pays 9.0% annual interest and matures April 2015 with ISIN NO0010607302 (“ETRION01 PRO”), as well as for general corporate purposes.

Marco A. Northland, Etrion’s CEO, commented: “We are very pleased once again with the strong interest shown by the Scandinavian capital markets. This bond issue allows us to refinance our existing corporate bond with a larger amount on a longer maturity at a lower interest rate. The incremental proceeds after the refinancing will be used to advance our project pipeline in Chile and Japan.”

ABG Sundal Collier, Pareto Securities and Swedbank acted as joint lead managers for the bond issue.

About Etrion

Etrion Corporation is an independent power producer (IPP) that builds, owns and operates utility-scale solar power generation plants. Etrion owns 17 solar power plants in Italy with approximately 60 MW of installed capacity. The Italian operations generate more than USD 40 million of annual earnings before interest, taxes, depreciation and amortization (EBITDA). Etrion is also developing greenfield solar power projects in Chile and Japan. The Company is listed on the Toronto Stock Exchange in Canada and the NASDAQ OMX Stockholm exchange in Sweden under ticker symbol “ETX”. Etrion’s largest shareholder is the Lundin family, which owns approximately 24 percent of the Company’s shares directly and through various trusts.

For further information, please visit the Company’s website at www.etrion.com or contact:

Pamela Chouamier, Investor Relations

Tel: +41 (22) 715 20 90

Andreas Lindal, ABG Sundal Collier

Tel: +47 22 01 61 02

Tore B. Sandvik, Pareto Securities

Tel: +46 8 402 51 11

Einar U. Johansen, Swedbank

Tel: +47 23 23 80 61

Etrion discloses the information provided herein pursuant to the Swedish Securities Market Act. The information was submitted for publication at 17:20 CET on Friday, March 28, 2014.

IMPORTANT INFORMATION

The information above is not intended for, and may not be distributed to or be published in, directly or indirectly, Australia, Hong Kong, Japan, New Zealand, South Africa, the United States, or any other jurisdiction where this would require registrations measures or would constitute a breach of law.

The information above does not contain or constitute an invitation or an offer to acquire, subscribe for, sell or otherwise trade in shares or other securities in the Company (“the securities”). Nor does it constitute a prospectus under the terms in Directive 2003/71/EC.

No securities are or will be registered in accordance with the U.S. Securities Act of 1933 (“Securities Act”) or any provincial act in Canada or any legislation in Australia, Hong Kong, Japan, New Zealand or South Africa. The securities may therefore not, directly or indirectly, be sold, resold, offered for sale, delivered or spread within or to any of these jurisdictions, or to any person located there at that point of time or resident there, or on account of such person, and further not to or within any other jurisdiction where such measure would violate the laws of the jurisdiction or require registrations measures, other than in accordance with an applicable exemption. A failure to comply with this instruction may result in a violation of the Securities Act or laws applicable in other jurisdictions.

ABG Sundal Collier, Pareto Securities and Swedbank are acting for the Company and no one else in connection with the bond issue referred to herein (the “Private Placement”) and will not be responsible to anyone other than the Company for providing the protections afforded to its clients or for providing advice in relation to the Private Placement and/or any other matter referred to in this announcement. ABG Sundal Collier, Pareto Securities and Swedbank accept no responsibility whatsoever and make no representation or warranty, express or implied, for the contents of this announcement, including its accuracy, completeness or verification or for any other statement made or purported to be made by it, or on its behalf, in connection with the Private Placement and nothing in this announcement is, or shall be relied upon as, a promise or representation in this respect, whether as to the past or future.

FORWARD LOOKING INFORMATION

This press release contains certain “forward-looking information” within the meaning of applicable Canadian securities laws.  All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements relating to the anticipated completion of the Private Placement) constitute forward-looking information.  This forward-looking information reflects the current expectations or beliefs of the Company based on information currently available to the Company as well as certain assumptions including, without limitation, the ability of the Company to obtain the approvals necessary to complete the Private Placement and the ability of the Company’s financial advisors to arrange for subscribers to the Private Placement.  Reliance should not be placed on forward-looking information.  Forward-looking information is subject to a number of significant risks and uncertainties and other factors that may cause the actual results of the Company to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company.  Factors that could cause actual results or events to differ materially from current expectations include, but are not limited to, the failure to obtain the required approvals necessary to complete the Private Placement, the failure to obtain subscribers to the Private Placement, unforeseen delays in completing the Private Placement in a timely manner, the occurrence of any material adverse change in the Company that could prevent the Private Placement from being completed in a timely manner, or if at all.

Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise.  Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.