29.4.2025 11:30:01 CEST | Magnora ASA | Additional regulated information
required to be disclosed under the laws of a member state

Magnora, the Norwegian renewable-energy development company, launches a new
share buyback programme.

Transactions will be carried out in accordance with the authorisation granted by
the Annual General Meeting (AGM) on 29 April 2025, by market purchases based on
the market price on the Oslo Stock Exchange. The maximum consideration to be
paid for shares acquired under the programme is NOK 35 per share and NOK 100
million in aggregate. The maximum number of shares that may be acquired under
the programme is 6,578,182. The programme will be terminated no later than AGM
2026 or 30 June 2026 whichever comes first. Magnora may at any time without
further notice close or suspend the programme. Shares purchased under the
programme will be used to reduce the number of outstanding shares, for the
issuing of compensation shares or other corporate purposes.

The decision to launch the programme is based on Magnora's sound financial
position, the large and growing project portfolio, and the outlook for cash flow
including project sales and revenues. Share buybacks will be performed more
actively in periods where the share is perceived as favourably priced relative
to fundamentals. Both buybacks and cash return to shareholders will be
considered regularly in light of the market conditions and the company's
development.

Magnora's financial strategy and cash return policy:
Magnora allocates capital to where the company expects a return well above the
cost of capital. The capital structure is normally all equity based with
substantial cash. Taking into account the need for growth capital and expected
future cash flows, excess capital will normally be returned to the shareholders
through dividend, repayment of paid-in capital or share buybacks with subsequent
cancelling of shares. Such excess capital may include received earn-out payments
related to past project sales, which upon receipt may lead to extraordinary
dividend or cash return.

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 

ABOUT MAGNORA ASA

Magnora ASA (OSE: MGN) is a renewable-energy group developing wind, solar and
battery storage projects. Magnora has operations in Europe and Africa through
the portfolio companies Hafslund Magnora Sol AS, Magnora Offshore Wind AS,
Magnora Germany, Magnora Italy Srl, Magnora Solar PV UK, Magnora South Africa,
and AGV. Magnora also has earn-out revenues related to the former portfolio
companies Helios Nordic Energy and Evolar, and a financial ownership in Hermana
Holding. Magnora is listed on the main list of the Oslo Stock Exchange under the
ticker MGN.

ATTACHMENTS

Download announcement as PDF.pdf -
https://kommunikasjon.ntb.no/ir-files/17847805/18509376/6012/Download%20announce
ment%20as%20PDF.pdf