Magnora ASA

Major Shareholding Notification • Sep 9, 2021

Magnora increases its ownership in Helios to 40 percent

Magnora increases its ownership in Helios to 40 percent

9.9.2021 07:00:00 CEST | Magnora ASA | Additional regulated information required

to be disclosed under the laws of a member state

September 9, 2021: Magnora ASA ("Magnora") is pleased to announce an increase in

its ownership in the Swedish solar PV developer Helios Nordic Energy AB

("Helios") from 25 to 40 percent by exercising its option agreed at the time of

the initial investment in Helios February 2, 2021.

Helios currently holds a portfolio of 1GW solar PV development projects in the

Nordics and reached this milestone capacity six months ahead of plan. As several

portfolio projects are approaching ready-to-build status, Helios is now

preparing to invite appropriate investors for parts of its portfolio in southern

Sweden where EY has been retained as its advisor.

"As we grow our portfolio, we strengthen our internal resources and capacity to

execute on opportunities to reach our next milestone of 2GW by the end of 2022.

Besides the provision of funds to reach this goal, Magnora's deep insights and

competence adds extra value for our business" says CEO of Helios Andreas

Tunbjer.

Magnora's focus is on wind and solar PV projects and engages in active ownership

in its portfolio companies. As reported in the second quarter of 2021, Magnora

made several follow-up investments in its portfolio companies in line with

achieved milestones and our business plan to grow a large portfolio of renewable

projects and companies.

"We are excited to see Helios demonstrating its capacities in the development of

large-scale solar farms in the Nordics by continuously adding to its portfolio

and broadening its project pipeline, reaching its milestones ahead of plan. As

we see the company positioning to become one of the leading players in the

region attracting attention from external investors, we increase our ownership"

says Magnora EVP Operations Peter Nygren.

"Solar PV has reached an inflection point. In Denmark solar PV has experienced a

rapid development of installed base and production, and we see a similar

development in Sweden. With current electricity prices in the Nordics and

Southern Sweden in particular, solar PV is very profitable. We are pleased to

further increase our holding in Helios", says Magnora working chairman Torstein

Sanness.

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

ABOUT MAGNORA ASA

ABOUT HELIOS AB

Helios develops large-scale solar farms in the Nordics and bring together all

the expertise required to develop profitable projects that deliver reliable

power. Helios manages the entire development phase including land selection,

permits and licenses, grid connection, project planning and procurement, and

financing by collaborating with well-established, long-term owners and

investors.

www.heliosnordic.com - http://www.heliosnordic.com

ABOUT MAGNORA ASA

Magnora ASA (OSE: MGN) has a legacy royalty business that is re-invested 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, Vindr Group AS, and a South African SPV. The company

is listed on the main list on Oslo Stock Exchange under the ticker MGN.

www.magnoraasa.com - http://www.magnoraasa.com

ATTACHMENTS

Download announcement as PDF.pdf -

https://kommunikasjon.ntb.no/ir-files/17847805/832/1093/Download%20announcement%

20as%20PDF.pdf