Magnora Data Center ASA: Ownership in Hämeenlinna data center project increases to 100%

12.8.2026 20:31:08 CEST | Magnora Data Center ASA | Non-regulatory press
releases

Magnora Data Center ASA ('MDATA') has entered into an agreement with its partner
Northern Europe Energy Group AS ('Northern') in the Hämeenlinna project in
Finland to acquire Northern's 30% share and as such obtain 100% ownership of the
project. The agreement will be settled through a combination of cash, shares and
an earn-out mechanism payable in cash. The share component consists of 1,326,666
MDATA shares ('the MDATA Shares') valued at NOK 15 per share, which represents a
19% premium to MDATA's closing price today and a 26% premium to MDATA's 30-day
VWAP. The parties have agreed to keep the total consideration confidential. The
settlement in shares has customary lock-up mechanisms for up to two years with
some exceptions.

MDATA is positive to increasing its owner share and development scope in this
project. This evolved as an opportunity during the summer through strategic
discussions with Northern. The structure of the resulting share settlement
reflects both parties' strong confidence and interest in the project's continued
success as well as in MDATA's portfolio.

MDATA is very pleased with the progress of the project including the
co-operation with the municipality and other local stakeholders. Building permit
was secured earlier this year and all key workstreams are on track in maturing
this powered-land project towards a Final Investment Decision (by an industrial
partner).

The transaction is subject to customary conditions and is expected to take place
during September 2026. In connection with completion, MDATA will deliver the
MDATA Shares either by a delivery of treasury shares, by issuing new shares
pursuant to the Board of Directors' existing authority to do so, or a
combination thereof. No assurances can be given that the conditions will be met
and that the transaction will be completed.

Legal advisor to MDATA was Advokatfirmaet BAHR AS.

CONTACTS

 * Erik Sneve, Chairman of the Board, Magnora Data Center ASA, es@magnoraasa.com


ABOUT MAGNORA DATA CENTER ASA

Magnora Data Center focuses on developing medium to large-scale data center
projects, and on operating data center capacity through our subsidiary
Storespeed. We assess a wide range of opportunities before selecting or
initiating projects. For our development projects, the strategy is to exit when
projects reach ready-to-build or near-ready stages - bringing in operators,
hyperscalers or infrastructure investors to take projects through construction
and operations. For Storespeed, we operate and grow the asset directly, with
co-location, AI hosting and sovereign cloud as core services. Growth is
primarily organic, driven by a pragmatic and disciplined approach to project
selection and execution.

The group's revenue model combines project sales og milestone payments with
recurring revenues from Storespeed operations. Project sale revenues may
fluctuate based on market conditions and timing, while underlying value creation
remains steady, driven by a growing project portfolio, grid applications,
permitting progress, and the build-out of operational capacity. Magnora Data
Center was during the spring of 2026 established as a separate group but still
with Magnora ASA as a parent company, and building on Magnora's track record of
value creation in renewables and infrastructure since 2019.

Magnora Data Center is listed on Euronext Growth Oslo with ticker MDATA. 

ATTACHMENTS

Download announcement as PDF.pdf -
https://kommunikasjon.ntb.no/ir-files/17850865/19021817/14983/Download%20announc
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