SO Tech ehf. acquired by AISG Ltd., a specialized investment company based in Dublin

On behalf of the board of directors of SO Tech ehf. (the Company), I have the pleasure to announce that AISG Ltd., a specialized investment company based in Dublin, Ireland has now acquired 100% of the share capital of the Company.

Mr. Roberto E. Polles has been named CEO and Accountable Manager of the Company, replacing Mr. Erlingur Petur Ulfarsson. Mr. Roberto E. Polles, who is a dual national of Italy and Argentina, has more than 40 years of experience as an aeronautical engineer having occupied positions at Aerolineas Argentinas, FIAT Avio, AgustaWestland, Meridiana and others, and who has most recently occupied senior management positions at a major airline of Italy.

To ensure continuity and high service standards, both Mr. David Aron Gudnason as Technical Director and Mr. Valgeir Rúnarsson as Quality & Compliance Manager, will continue with the Company. In order to leverage and complement our Iceland expert team we are also bringing high caliber executives to the company, Mr. Polles will announce additional senior level recruitment in due course.

With the hiring of a highly accomplished and experienced CEO, the new shareholder of the Company aims to expand the Company’s scope of operations around the world. AISG Ltd.’s shareholders have a controlling stake in A&P International Services (dba AISG), Mexico’s leading line maintenance provider. The common shareholding among SO Tech Aviation Services and A&P International Services will be used to ensure common best practices and synergies that will benefit many of the airline clients that already are customers of both companies.

It is the intention of the shareholder that both companies will continue to be managed separately, but that by increased level of cooperation, the service standards, training and staff quality will be of the highest world class level to the benefit of our esteemed clients and employees.

May I close out by congratulating Mr. Polles on his appointment, and express our gratitude to our valued customers, employees, airport partners and suppliers for their loyalty and confidence they have placed in us. We are excited about the future of both SO Tech Aviation Services and A&P International Services, and believe the best times are ahead of us.

Sincerely,

Carlos Sierra Chairman of the Board SO Tech ehf.