This is superb! I love Aegnor's expression, like he's deep in thought, and the detail on the armour and clothing is truly wonderful. The horses look really realistic too, and so does the background! Angrod's helmet is very cool too.
Achieving the proper proportion whens drawing people on horses is really hard. You have absolutely done this perfectly. Not only are the horses absolutely beautiful but the riders are as well. However, I really appreciate that look of seriousness and responsibility that you have added to his face. It's easy to make immortals look blank and beautiful, so much harder to give them life and emotions. The armor is brilliantly done, it isn't stiff to the riders bodies at all and seems to reflect a very probable and practical battle outfit. The attention to detail and shading and ESPECIALLY depth is really what I love. I love the how the cloak looks like it covers something instead of simply being there (like most pictures). It's great how much detail you have put into the horses and the background, how the walls have cracks in them and the railings of the stairs have a set design to them.
I'm gushing. But I simply adore this. Really. I do adore this.