Magnora ASA

Remuneration Information • May 23, 2019

MAGNORA ASA: GRANT OF OPTIONS – DISCLOSURE OF SHAREHOLDINGS

MAGNORA ASA: GRANT OF OPTIONS – DISCLOSURE OF SHAREHOLDINGS

Following the resolutions passed by the 2019 ordinary general meeting, the following options have now been granted to primary insiders:

Torstein Sanness – chairperson of the board: 400,000 options. Following the grant, Mr Sanness owns in total 400,000 options in the Company.

John Hamilton – board member: 50,000 options. Following the grant, Mr Hamilton owns in total 50,000 options in the Company.

Hilde Ådland – board member: 50,000 options. Following the grant, Mrs Ådland owns in total 50,000 options in the Company.

Erik Sneve – acting CEO: 400,000 options. Following the grant, Mr Sneve controls directly and indirectly 534,919 shares and 400,000 options in the Company.

Each option granted gives the holder the right to subscribe or receive one share in the Company, all in accordance with the terms and conditions for such options as approved by the 2019 annual general meeting.

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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.