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Regulatory press release

MGN: Magnora Germany adds 150 MW of BESS with high grid-potential

Magnora
11.4.2025 13:50:23 CEST | Magnora ASA | Non-regulatory press releases

In April, Magnora Germany secured exclusive rights to develop a 150 BESS project
(2 hrs duration) on industrial, municipality-owned land in Germany. Being close
to a substation singled out for near-future upgrades, the site has high
potential for grid connection in the short to-mid terms.

The German BESS market has attracted great interest. Few projects have been on
the market in recent years, and the combination of falling capex, accelerated
public infrastructure investments, and supply instabilities serve to shape the
market. This spring, the new government announced EUR 100 billion in green
energy initiatives as part of a stimulus package.

For some time, a series of large investors and existing customers have taken an
interest in Magnora's German operation. The German team is assessing 50 plus
potential projects selected due to their high grid potential. Magnora Germany is
careful not to engage in projects lest there is a realistic chance of near-term
grid and supportive local communities.

"The interest in German BESS exceeds most opportunities Magnora has faced so
far," says Erik Sneve, CEO of Magnora. "We are grateful and fortunate to have a
local, experienced and fast-moving team with grid specialists and people from
the BESS industry. This may add to the five BESS projects Magnora has sold to
date. While success in Germany is not assured, the point of departure looks
excellent for building another great platform."

CONTACTS

* Erik Sneve, CEO, email: es at magnoraasa.com

ABOUT MAGNORA ASA

Magnora ASA (OSE: MGN) is a renewable-energy group developing wind, solar and
battery storage projects. Magnora has operations in Europe and Africa through
the portfolio companies Hafslund Magnora Sol AS, Magnora Offshore Wind AS,
Magnora Germany, Magnora Italy Srl, Magnora Solar PV UK, Magnora South Africa,
and AGV. Magnora also has earn-out revenues related to the former portfolio
companies Helios Nordic Energy and Evolar, and a financial ownership in Hermana
Holding. Magnora is listed on the main list of the Oslo Stock Exchange under the
ticker MGN.

ATTACHMENTS

Download announcement as PDF.pdf -
https://kommunikasjon.ntb.no/ir-files/17847805/18495243/5935/Download%20announce
ment%20as%20PDF.pdf
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