20.3.2024 20:48:19 CET | Magnora ASA | Additional regulated information required
to be disclosed under the laws of a member state

On 20 March, the board of Magnora went forward with the plan to distribute
shares in the legacy asset business (Hermana Holding ASA) to Magnora
shareholders

The shareholders of Magnora ASA are called to the annual general meeting to be
held by conference call and at the offices of law firm Schjødt at Tordenskiolds
gate 12, Oslo on 23 April 2025 at 09:00 (CET). The AGM will consider Magnora's
plan to demerge its legacy business. On 20 March, the board of directors of
Magnora ASA signed a demerger plan for the transfer of 70% the shares in the
Company's wholly owned subsidiary Project Tripartite 2 AS ("PT2") to Hermana
Holding ASA, also a wholly owned subsidiary of Magnora. When the demerger is
complete, 70% of the shares in PT2 will be transferred from Magnora to Hermana
Holding ASA, and the share capital in Magnora will be reduced by NOK
6,676,928.63 through a reduction of the nominal value of NOK 0.101547426706407
per share. Shareholders in Magnora at the implementation date will receive one
share in Hermana Holding ASA for each share they own in Magnora when trading
closes on the implementation date. The exact implementation date will be
announced in due course.

The demerger plan will be submitted for registration with the Norwegian Register
of Business Enterprises today and will be submitted for approval to Magnora's
annual general meeting scheduled to be held on 23 April 2024.

When the demerger is complete, Magnora will contribute their remaining
shareholding of 30% in PT2 in a capital increase in Hermana Holding ASA. At that
point, Hermana Holding will hold all shares in PT2, Magnora ASA will hold 30% of
the shares in Hermana Holding and Magnora's shareholders will hold the remaining
70%. An application to list the shares in Hermana Holding ASA on the Oslo Stock
Exchange will be filed with the intention that such listing takes effect as soon
as practicable after implementation of the demerger and the capital increase in
Hermana Holding ASA has been registered with the Register of Business
Enterprises.

Attached is the official notice distributed to all shareholders, as well as
separate appendices which also include proxy forms. All shareholders are urged
to give proxy to vote the shares, or to cast votes electronically in advance via
VPS. Votes cannot be cast by phone during the meeting.

The documents are also available at the web site of Magnora ASA