Magnora ASA

Capital/Financing Update • May 22, 2019

MAGNORA ASA: Commencement of notice period for share capital decrease

MAGNORA ASA: Commencement of notice period for share capital decrease

Reference is made to the minutes from the general meeting held on 21 May 2019 (the "AGM") in Magnora ASA (the "Company") and the pertaining stock exchange notice, whereby the general meeting resolved to decrease the Company's share capital with a total of NOK 52,616,946.49 of which NOK 52,586,698 will be distributed to the shareholders, and NOK 30,248.49 shall be used for cancellation of the Company’s total 20,301 treasury shares.

The Norwegian Register of Business Enterprises (the "NRBE") has today announced in their public gazette the AGM's resolution on the share capital decrease. Accordingly, the six weeks creditor notice period commences today and will expire on 3 July 2019. The distribution of NOK 52,586,698 will be made to the Company's shareholders as of the date the board files for completion of the share capital decrease with the NRBE.

Magnora will after the expiration of the creditor notice period communicate in a separate press release key dates and relevant information relating to the distribution resolved.

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For more information, please contact:

Erik Sneve, CEO, Magnora ASA

es@magnoraasa.com

This stock exchange announcement is made pursuant to section 5-2 of the Norwegian Securities Trading Act.