Magnora increases its ownership in Helios to 40 percent
9.9.2021 07:00:00 CEST | Magnora ASA | Additional regulated information required
to be disclosed under the laws of a member state

September 9, 2021: Magnora ASA ("Magnora") is pleased to announce an increase in
its ownership in the Swedish solar PV developer Helios Nordic Energy AB
("Helios") from 25 to 40 percent by exercising its option agreed at the time of
the initial investment in Helios February 2, 2021.

Helios currently holds a portfolio of 1GW solar PV development projects in the
Nordics and reached this milestone capacity six months ahead of plan. As several
portfolio projects are approaching ready-to-build status, Helios is now
preparing to invite appropriate investors for parts of its portfolio in southern
Sweden where EY has been retained as its advisor.

"As we grow our portfolio, we strengthen our internal resources and capacity to
execute on opportunities to reach our next milestone of 2GW by the end of 2022.
Besides the provision of funds to reach this goal, Magnora's deep insights and
competence adds extra value for our business" says CEO of Helios Andreas
Tunbjer.

Magnora's focus is on wind and solar PV projects and engages in active ownership
in its portfolio companies. As reported in the second quarter of 2021, Magnora
made several follow-up investments in its portfolio companies in line with
achieved milestones and our business plan to grow a large portfolio of renewable
projects and companies.

"We are excited to see Helios demonstrating its capacities in the development of
large-scale solar farms in the Nordics by continuously adding to its portfolio
and broadening its project pipeline, reaching its milestones ahead of plan. As
we see the company positioning to become one of the leading players in the
region attracting attention from external investors, we increase our ownership"
says Magnora EVP Operations Peter Nygren.

"Solar PV has reached an inflection point. In Denmark solar PV has experienced a
rapid development of installed base and production, and we see a similar
development in Sweden. With current electricity prices in the Nordics and
Southern Sweden in particular, solar PV is very profitable. We are pleased to
further increase our holding in Helios", says Magnora working chairman Torstein
Sanness.

DISCLOSURE REGULATION

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