Etrion Provides Update on Shares Outstanding

January 31, 2014, Geneva, Switzerland – Etrion Corporation (“Etrion” or the
“Company”) (TSX: ETX / OMX: ETX), a solar independent power producer, announces
an update to the Company’s total shares outstanding following the recent share
issuance.

Etrion announced on January 29, 2014, the closing of a private placement to
raise gross proceeds of approximately USD 80 million through the issuance of
124,633,571 common shares. Following the share issuance, the Company has
333,852,657 total shares outstanding.

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

Pamela Chouamier – Investor Relations

Telephone: +41 (22) 715 20 90

Etrion discloses the information provided herein pursuant to the Swedish
Securities Market Act. The information was submitted for publication at 15:45
CET on January 31, 2014.