Oslo, Norway, 27 May 2020: MAGNORA ASA, a leading Norwegian renewable energy
investment company adds an additional position to its Management Team.

Magnora is pleased to announce that Mr. Bjørn Sund has accepted a position as
Director of Industrial Projects and Offshore with the company. Mr. Sund brings
decades of experience from Kvaerner, Norsk Hydro, Lundin and Aker Energy. Mr.
Sund has worked across areas such as field development, Head of R&D for Norsk
Hydro working with electrolysers, hydrogen and ammonia (and NEL and Yara which
are both Norsk Hydro spin-offs from his time with Norsk Hydro). Mr. Sund has
also worked with the Utsira project (wind power and electrolysers) and the
Hywind studies (offshore wind concept today owned by Equinor). Over the last few
years Mr. Sund has worked for Lundin Energy and Aker Energy with field
development. 
 
Magnora's Chairman Torstein Sanness says: "We are pleased to have Mr. Sund on
board helping the company realize its offshore wind project. In addition, Mr.
Sund will be instrumental with our studies of the upcoming Norwegian offshore
licensing process with his vast experience from winning in Norwegian offshore
licensing processes previously. Mr. Sund has also successfully led field
development processes in the region. We also think Mr. Sund will be a great
asset for our employees and partners in relations into preparing wind power into
hydrogen, ammonia and methanol in some wind development projects. We see an
increasing need for such competence in our universe of project opportunities in
the current market."
 
Mr. Sund says: "Magnora is an interesting company with a great platform for the
green transition. The Company has a solid team with a great track-record from
project development within wind power internationally. The timing for combining
new green energy and industrial processes through partnerships seems to be good.
In addition, the company should have a fair chance of participating in a winning
consortium on the Norwegian continental shelf due to its strategy and team."

About Magnora (OSE: MGN): Magnora ASA is a renewable energy investment company
looking for profitable green investment opportunities. The company is listed on
the main list on Oslo Stock Exchange under the ticker MGN. 

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For further information, please contact:

Erik Sneve, CEO, Magnora ASA 
es@magnoraasa.com 

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

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