Magnora ASAC/O Advokatfirmaet Schjødt AS, P.O. Box 2444, Solli, Oslo, Norway

Magnora launched its focus on wind power in February this year following a thorough strategy process lasting throughout 2019. During 2019, the company recruited a new management team and engaged two senior executives to facilitate an entry into the wind market and to develop wind projects in Northern Europe. We believe in maintaining a lean operating model, which is reflected in our small team of ten individuals, with our corporate management team of four, and each of the portfolio organisations with teams of three. Together with our active board of three, we are able to execute our strategy efficiently to build an asset light green investment portfolio. Our team brings decades of experience with proven operating and project execution models, which is leveraged as we support our portfolio companies to build a presence within the wind power industry.

Magnora is listed on the Oslo Stock Exchange's main list and has more than 3,800 shareholders. The company has no debt and has two license agreements that provides significant license revenues over the next years. The majority owner of Magnora is Kistefos with approximately 21% ownership, and together with several well-known investors, they support the company's green initiative.