Magnora ASA

Board/Management Information • Feb 3, 2021

Magnora ASA leadership update – Peter Nygren EVP Operations

Magnora ASA leadership update – Peter Nygren EVP Operations

Oslo, 3 February 2021: Magnora ASA (Magnora) is pleased to announce the appointment of Peter Nygren as Executive Vice President and part of the Senior Management team.

Mr. Nygren was previously CEO and co-founder of Arise and has more than two decades of experience from global renewable energy markets. Magnora is very pleased to bring Mr. Nygren onboard.

“His industrial background and operational experience from Arise over a decade is unique in the relatively young wind power industry” says Torstein Sanness Executive Chairman Magnora ASA.

Haakon Alfstad, Magnora’s Investment Director says “We are very pleased to be able to work with Peter Nygren again after having worked closely in Arise in the 2010’s.

Mr. Nygren has been granted 100.000 options which gives the right to acquire 100.000 shares. Vesting period is over 3 years and the options expire 5 years from vesting date. Start of vesting date is 5 February 2021.

ENDS

For further information, please contact:

Torstein Sanness, working chairman, sanness at sf-nett.no

Erik Sneve, CEO, Magnora ASA, es at magnoraasa.com

About Magnora

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