23.4.2024 06:25:01 CEST | Magnora ASA | Additional regulated information
required to be disclosed under the laws of a member state

On 22 April, Helios Nordic Energy AB (Helios) handed over two PV solar projects
with a combined capacity of some 90 MWp to a fund managed by Commerz Real.

The projects are fully permitted to start construction and have secured grid
connection agreements. The largest, named Wing Fields, has a nominal capacity of
49.4 MWp. It is located in the municipality of Vingåker. The other, named Gas
Light, has a nominal capacity of 39.2 MWp. It is located in the municipality of
Götene. Both are a part of the five-project Serene portfolio that Commerz Real
acquired from Helios in late 2022. 

Helios will remain involved in the projects providing construction management
services and thereafter asset management services when the plants have entered
operation.

"We are delighted with Helios's track record of turning projects into sales and
sales into handovers. These deliveries allow Helios to recognize all sales
revenue from the transactions," says Erik Sneve, CEO of Magnora.

"I'm very proud of Helios solidifying its position as the leading pv solar
developer in Sweden, having delivered already three large-scale projects in
2024. We have a truly great team, and we are all highly motivated to continue
adding more renewable energy production in the Nordics. We are also grateful for
the very collaborative partnership we have established with Commerz Real,
enabling us both to benefit from the growing and lucrative PV solar market in
the Nordics", says Andreas Tunbjer, CEO Helios

Helios Nordic Energy AB is a developer of large-scale solar PV and battery
energy storage projects. The company is active in Sweden, Finland and Norway
(through the joint venture Hafslund Magnora Sol). Helios has to date sold 24
solar PV projects to several different Tier 1 investors with an accumulated
capacity of approx. 1 GW. Helios has so far delivered 8 projects with a total
combined capacity of approx. 300 MW. The project pipeline exceeds 11 GW
distributed over Sweden and Finland and includes both stand-alone BESS and solar
PV projects.

 Commerz Real is a German asset management company, specialising in renewable
energy and real estate investments. It is part of Commerzbank Group.

DISCLOSURE REGULATION

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

CONTACTS

 * Erik Sneve, CEO, email: es at magnoraasa.com 
 * Torstein Sanness, Executive chairman, email: sanness at sf-nett.no 

ABOUT MAGNORA ASA

Magnora ASA (OSE: MGN) has a legacy royalty business that is re-invested in
renewable energy development projects and companies. Magnora's portfolio of
renewable companies consists of Helios Nordic Energy AB, Kustvind AB, Magnora
Offshore Wind AS, Magnora Solar PV UK, Hafslund Magnora Sol AS, Magnora South
Africa, and AGV. The company is listed on the main list on Oslo Stock Exchange
under the ticker MGN. 

ATTACHMENTS

Download announcement as PDF.pdf -
https://kommunikasjon.ntb.no/ir-files/17847805/3036/4349/Download%20announcement
%20as%20PDF.pdf