Conversion of Convertible Notes Pursuant to Financing Arrangement Between Valoe Corporation and Winance

Valoe Corporation                     Stock Exchange Release          27 February 2020 at 11.00 Finnish time

The Board of Directors of Valoe Corporation (the "Company") has, pursuant to the terms and conditions of the financing arrangement between Valoe Corporation and Winance announced on 20 December 2018, resolved to approve the request of Winance to convert a proportion of EUR 120,000 of the convertible notes to the shares in the Company at conversion price of EUR 0.06 per share. The conversion shall be executed by transferring a total of 2,000,000 treasury shares to Winance.  After the transfer, the Company will have in total 30,614 treasury shares.

In Mikkeli 27 February 2020

Valoe Corporation

Board of Directors

For more information:

Iikka Savisalo, President and CEO, Valoe Corporation

Tel. 2

email:

Distribution:

NASDAQ OMX, Helsinki

Main media

Valoe Corporation specializes in the clean energy, especially in photovoltaic solutions. Valoe provides automated production technology for solar modules based on the company’s own technology; production lines for modules; solar modules and special components for solar modules. Valoe's head office is located in Mikkeli, Finland.