Magnora ASA

Share Issue/Capital Change • Feb 12, 2021

Magnora ASA: Increased share capital registered

Magnora ASA: Increased share capital registered

12 February 2021: MAGNORA ASA, a leading Norwegian renewable energy investment company has increased its share capital.

Reference is made to the stock exchange notice from Magnora ASA (the "Company") dated 4 February 2021 regarding completion of a share offering (the "Share Offering"). In the Share Offering, a total of 4,458,981 new shares were allocated to subscribers. The share capital increase pertaining to the Share Offering has now been registered with the Norwegian Register of Business Enterprises. The new registered share capital of the Company is NOK 27,965,613.24 divided by 57,072,679 shares, each with a par value of NOK 0.49. The new shares will be issued and delivered to the subscribers in the Subsequent Offerings through the VPS as soon as possible.

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For further information, please contact:

Torstein Sanness, executive 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 development company looking for profitable green investment opportunities. The company is listed on the main list on Oslo Stock Exchange under the ticker MGN.

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