Magnora ASA

Share Issue/Capital Change • Jun 15, 2021

Magnora ASA (MGN): Contemplated block sale of existing shares

Magnora ASA (MGN): Contemplated block sale of existing shares

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN OR IN ANY JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

Oslo - 15 June 2021.

Kistefos AS (the "Seller") has retained Fearnley Securities AS (the "Manager") to explore a potential block sale of existing shares (the "Offering") in Magnora ASA (the "Company").

The Seller is contemplating selling up to 5,557,431 shares in the Company (equal to approx. 9.74% of the Company's shares outstanding) through an accelerated bookbuilding process, representing the Seller’s entire holding. The Seller reserves the right, at its own discretion, to sell fewer shares or no shares at all.

The Offering will commence today (15 June 2021) at 16:30 CEST and will close no later than 16 June 2021 at 08:00 CEST. Please note that the Offering may be closed on short notice at the full discretion of the Seller and/or the Manager. The Offering is expected to be priced and allocated before the opening of the Oslo Stock Exchange on 16 June 2021 (T). The settlement in the Offering will be conducted on a normal delivery-versus-payment basis (DVP T+2).

The minimum order and allocation in the Offering have been set to the NOK equivalent of EUR 100,000. The Manager may, however, offer and allocate an amount below the NOK equivalent of EUR 100,000 in the Offering to the extent exemptions from prospectus requirements, in accordance with Regulation (EU) 2017/1129, are available.

For more information about the Offering please contact the Manager:

Fearnley Securities AS

+47 22 93 60 00

***