Magnora ASA

Remuneration Information • Aug 26, 2020

Magnora ASA: Grant of share options under share incentive scheme

Magnora ASA: Grant of share options under share incentive scheme

Oslo, Norway, 26 August 2020: MAGNORA ASA, a leading Norwegian renewable energy investment company awards share options to key senior management.

The board of directors has resolved to grant 75,000 share options to the following:

CFO, Bård Olsen, was granted 25,000 options with a strike price of NOK 9.65, which gives him the rights to acquire 25,000 additional shares in the Company. Vesting period is 3 years, and the options expire 5 years from vesting date. Mr. Olsen holds 20,000 shares in Magnora ASA, which equals 0.04 percent of the issued shares and votes in the Company. Mr. Olsen holds 50,000 share options in Magnora ASA including the 25,000 options mentioned above.

Investment director, Haakon Alfstad, was granted 50,000 options with a strike price of NOK 9.65, which gives him the rights to acquire 50,000 additional shares in the Company. Vesting period is 3 years, and the options expire 5 years from vesting date. Mr. Alfstad holds 19,055 shares in Magnora ASA, which equals 0.04 percent of the issued shares and votes in the Company. Mr. Alfstad holds 100,000 share options in Magnora ASA including the 50,000 options mentioned above.

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For further information, please contact:

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

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

About Magnora

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

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