Etrion Provides Operations Update

October 31, 2013, Geneva, Switzerland – Etrion Corporation (“Etrion” or the
“Company”) (TSX: ETX / OMX: ETX), a solar independent power producer, announces
preliminary production results for the third quarter of 2013.
Operational Performance

Etrion’s solar parks in Italy continue to perform above forecast. During the
three months ended September 30, 2013, the Company’s seventeen solar power
plants produced 37.7 million kilowatt hours (“kWh”) of solar electricity,
approximately 5% above forecast and 6% above the comparable period in 2012 due
primarily to higher solar irradiation. Etrion expects to produce over 100
million kWh of solar electricity in 2013.

The Company’s solar park operations show an improving trend with a weighted
average availability of 99.4% in Q3 2013 compared to 98.5% in Q3 2012. A solar
park’s availability measures the amount of time it is able to generate power
during daylight hours.

The improving trend in operations is also demonstrated by weather-adjusted
production increasing 1% in Q3 2013 compared to Q3 2012. A solar park’s weather
-adjusted production rescales actual production to standard solar irradiation.

Management Comments

Marco A. Northland, the Company’s Chief Executive Officer, commented: “Our solar
operations continue to perform better than expected due to high solar
irradiation and efficient asset management. We look forward to integrating the
new Chilean projects into our operations and maintenance platform next year.”

About Etrion

Etrion Corporation is an independent power producer (“IPP”) that builds, owns
and operates utility-scale solar power generation plants. The Company owns 17
solar power plants in Italy with approximately 60 MW of installed capacity. The
Italian operations generate more than US$40 million of annual earnings before
interest, taxation, depreciation and amortization (“EBITDA”). Etrion is also
developing solar power projects in Chile, including a 70 MW solar park in
partnership with Total SA. The Company is listed on the Toronto Stock Exchange
in Canada and the NASDAQ OMX Stockholm exchange in Sweden under the ticker
symbol “ETX”. Etrion’s largest shareholder is the Lundin family, which owns
approximately 25% of the Company’s shares directly and through various trusts.

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

Pamela Chouamier – Investor Relations

Telephone: +41 (22) 715 20 90

Note: The capacity of power plants in this release is described in approximate
megawatts on a direct current (“DC”) basis, also referred to as megawatt-peak
(“MWp”).

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 Company’s
anticipated electricity production) 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
acquire additional renewable energy projects, enter into power purchase
agreements with industrial clients and obtain project financing on economic
terms. 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 risk
that the Company may not be able to identify and/or acquire other renewable
energy projects.

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.