Magnora ASA

Regulatory Filings • May 12, 2020

Magnora ASA Landowner Agreement: Magnora signs letter of intent to invest in a potential 60 MW onshore wind development project company

Magnora ASA Landowner Agreement: Magnora signs letter of intent to invest in a potential 60 MW onshore wind development project company

Oslo, Norway, 11 May 2020: MAGNORA ASA, a leading Norwegian royalty and license revenue company releases its third investment update – a landowner agreement with potential 60 MW onshore project.

Magnora enters into its third wind development project through a cooperation with a landowner of a potential 60 MW onshore project in Scandinavia with a team of founders with a great track-record within real estate development. After a 4-month feasibility study period ending August 2020, Magnora has the option to acquire a further up to 50% of the project through a detailed milestone plan.

Magnora’s Head of Business Development Theis Hanang Pedersen said: “Magnora gains access to an attractive site with a developer who is a specialist in real estate development.”.

Magnora’s Investment Director Haakon Alfstad said: “The project is close to relevant infrastructure, and wind conditions are good. The project is also located in northern parts of the region.

We are very happy to start working with this project after a 1-month due diligence process. Magnora will continue to invest in teams and projects that increase our ability to build a diversified asset light green investment portfolio.

More about Magnora’s renewable strategy: https://newsweb.oslobors.no/message/497520

About Magnora (OSE: MGN): Magnora ASA is a royalty and license company looking for profitable green investment opportunities. The company is listed on the main list on Oslo Stock Exchange under the ticker MGN.

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For further information, please contact:

Erik Sneve, CEO, Magnora ASA

es@magnoraasa.com

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.