Magnora ASA

Notice of Dividend Amount • Aug 1, 2022

Magnora ASA - First dividend payment from Helios

Magnora ASA - First dividend payment from Helios

1.8.2022 11:13:28 CEST | Magnora ASA | Additional regulated information required

to be disclosed under the laws of a member state

August 1, 2022: Magnora ASA ("Magnora") is pleased to announce its first

dividend from its solar PV company Helios Nordic Energy AB.

Magnora ASA made a strategic entry into the solar PV business on 2nd February

2021 through investing in Helios Nordic Energy AB.

Today Magnora owns 40% of Helios Nordic Energy AB and is the company's largest

investor.

The initial dividend from Helios will provide Magnora with a direct return of

28.4% on our investment in the company.

Magnora believes Helios has significant dividend potential, in hundreds of

millions of SEK, over the next years based solely on existing sales subject to

final permitting. In addition, new sales potential from Helios' development

pipeline provides further growth.

Helios will return all excess cash, beyond for what is needed for its growth

strategy, to its shareholders going forward.

Helios has sold 10 projects (approximately 375 MW) to a diverse group of

reputable buyers over the last 9 months from its growing development portfolio.

Helios business model is to develop projects with landowners packaged with grid

connection agreements, construction management services as well as various

aftermarket services.

"Magnora is very pleased to have joined forces with the Helios team which is

leading the way in the Nordics with its highly competent team of experts with

decades of experience from the energy sector providing Europe with more secure

new green energy", says Erik Sneve, Magnora's CEO.

Andreas Tunbjer, Helios CEO says "Helios is very pleased by Magnora's

contribution, competence and support through its development journey from early

stage into making Helios a leading industrial European developer of solar PV

projects, at a time when the continent and the Nordics are in critical need of

clean new energy."

Helios has a goal of growing its portfolio to above 2.5 GW by year-end 2022.

DISCLOSURE REGULATION

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

CONTACTS

* Erik Sneve, CEO, email: es at magnoraasa.com

* Torstein Sanness, Executive chairman, email: sanness at sf-nett.no

ABOUT MAGNORA ASA

Magnora ASA (OSE: MGN) invests in renewable energy development projects and

companies. Magnora's portfolio of renewable companies consists of Evolar AB,

Helios Nordic Energy AB, Kustvind AB, Magnora Offshore Wind AS, Magnora South

Africa, and AGV. The company is listed on the main list on Oslo Stock Exchange

under the ticker MGN.

ATTACHMENTS

Download announcement as PDF.pdf -

https://kommunikasjon.ntb.no/ir-files/17847805/1634/2203/Download%20announcement

%20as%20PDF.pdf