Magnora ASA: Launch of 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.