Completion of spin-off demerger of Magnora's legacy business

14 Jun 2024 19:00 CEST

Reference is made to previous stock exchange announcements published by Magnora
ASA ("Magnora") regarding a spin-off demerger relating to a subsequent listing
on the Oslo Stock Exchange of Magnora's legacy business (the "Listing").

The second demerger has today been registered as completed in the Norwegian
Register of Business Enterprises and 70% of the shares in Western Isles Holding
AS has been tranferred to Hermana Holding ASA ("Hermana" or the "Company") (the
"Spin-Off Demerger"). As a result of the Spin-Off Demerger, the share capital of
the Company was increased to NOK 6,676,928.63. Upon registration of the Spin-Off
Demerger in Euronext Securities Oslo, shareholders in Magnora will receive the
same number of shares as they held in Magnora in Hermana. The shares in Hermana
are expected to be tradeable on or about 18 June 2024, i.e. the first day of
trading in Hermana on the Oslo Stock Exchange.

Magnora's remaining 30% shareholding in Western Isles Holding AS will be
contributed as a contribution in-kind to Hermana today, and registered with the
Register of Business Enterprises as soon as possible. Following the contribution
in-kind, Magnora will be the owner of 30% of the shares in Hermana which in turn
is the owner of 100% of the shares in Western Isles Holding AS (being the owner
of the license busines).

More information:
Access the news on Oslo Bors NewsWeb site