Magnora ASA

Major Shareholding Notification • Mar 22, 2021

The Market Administration Department The Oslo Stock Exchange Tollbugt 2 PO Box 460 Sentrum 0105 OSLO Norway E-mail: ma@oslobors.no

Investor Relations Magnora ASA Karenslyst allé 2 Oslo NO-03 Norway E:mail: ir@magnoraasa.com

Magnora ASA

Securities Trading Act

On behalf of JPMorgan Chase & Co. ("JPMC") and its subsidiaries, JPMC hereby notifies you that it has a notifiable interest in Magnora ASA ("the Company"), as detailed in the attached Schedule.

If you require any further information, please do not hesitate to contact me.

Yours faithfully

Alwyn Basch EMEA Compliance Department

JPMorgan Chase Bank, National Association 25 Bank Street, London, E14 5JP Tel: +44 (0)20 7742 7407 • Fax: +44 (0) 20 3493 0684 •EMEA_DOI_Compliance@jpmorgan.com

Organised under the laws of U.S.A. with limited liability. Main Office 1111 Polaris Parkway, Columbus, Ohio 43240 Registered as a branch in England & Wales branch No. BR000746. Registered Branch Office 25 Bank Street, Canary Wharf, London, E14 5JP

Authorised by the Office of the Comptroller of the Currency in the jurisdiction of the U.S.A. Authorised by the Prudential Regulation Authority. Subject to regulation by the Financial Conduct Authority and to limited regulation by the Prudential Regulation Authority. Details about the extent of our regulation by the Prudential Regulation Authority are available from us on request.

19 March 2021

SCHEDULE

Magnora ASA

JPMorgan Chase & Co. ("JPMC ") has a notifiable interest in the share capital of Magnora ASA as a result of trades by its subsidiary J.P. Morgan Securities plc. The total number of shares held by JPMC on 18 March 2021 was 4,252,947 being 7.452% of the issued share capital and voting rights of the company. The equity holding in JPMC crossed notification threshold of 5% on 18 March 2021.

Breakdown by number of shares held:

J.P. Morgan Securities plc	4,252,942 (7.452%)
JPMorgan Chase Bank, National Association	5 (0.00001%)
Trades by J.P. Morgan Securities plc
Buy	4,337,724
Sale	89,790
Borrowed shares:	42,693
Returned borrowed shares:	35,861

CHAIN OF CONTROLLED UNDERTAKINGS

Relationship of JPMorgan JPMorgan Chase & Co. to subsidiaries involved in the disclosure

1. The following hierarchy shows the relationship JPMorgan Chase & Co. and its subsidiary J.P. Morgan Securities plc

JPMorgan Chase & Co. JPMorgan Chase Bank, National Association (100%) J.P. Morgan International Finance Limited (100%) J.P. Morgan Capital Holdings Limited (100%) J.P. Morgan Securities plc (100%)

2. The following hierarchy shows the place of JPMorgan Chase Bank, National Association within the JPMorgan group.

JPMorgan Chase & Co. JPMorgan Chase Bank, National Association (100%)