Magnora ASA

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Mandela Day 2024: Empowering a Sustainable Future This Mandela Day, we honor Nelson Mandela's remarkable life and legacy by committing to a sustainable future for South Africa. At Magnora ASA and our South African subsidiary, AGV, we believe renewable energy has the power to uplift our communities and transform lives. In the spirit of Madiba, we are dedicated to advancing renewable energy solutions, reducing our carbon footprint, and ensuring clean, affordable power for South Africans. Join us in celebrating Mandela Day by embracing the vision of a greener, more equitable and compassionate society for all. As Nelson Mandela once said: “It is in your hands to create a better world for all who live in it.” Happy Mandela Day! 🌍🌟

Magnora: Helios owners sell all shares to French infrastructure group Vinci for EUR 73 million / 850 million and a substantial earnout component   On 29 May, a deal was signed to sell all shares in Helios Nordic Energy AB (Helios) to the French industrial infrastructure company Vinci. The current owners of Helios will receive an upfront payment of approximately NOK 850 million (EUR 73 million) and a substantial earnout component. Magnora holds 40% of the company’s shares prior to the transaction and will receive a corresponding share of upfront payment and earnout payments and an earnout tied to Helios’s portfolio of unsold projects. For Magnora, this represents an excellent strategic solution, with the French industrial infrastructure company Vinci becoming the sole owner of Helios, and transforming Helios from a development company to an independent power producer. In Magnora’s view, this is the best outcome to secure maximum utilization and deployment of Helios’ portfolio. Magnora believes the sale will create more value for current shareholders of Helios than a series of individual third party sales of projects and portfolios.  Vinci is one of the largest industrial infrastructure companies in the world. In the year 2023, Vinci had EUR 69.6 billion in revenues, EUR 8.07 billion in EBIT, EUR 5.1 billion in net income and EUR 118.5 billion in total assets. Vinci is listed on the Paris Stock Exchange and is part of the EuroStoxx 50 index. Vinci’s market capitalization as of 28 May 2024 was approximately EUR 65 billion. As part of the agreement, Helios’s current management will continue to manage and run Helios with an attractive incentive model in addition to the earn-out payments to owners. Magnora will receive an estimated NOK 335 million at closing. In addition, Magnora expects multiple payments through the earnout mechanism for five more years. In line with Magnora’s capital distribution program, launched in June 2023, such extraordinary income may result in extraordinary distributions to shareholders.    Closing of the transaction is subject to the buyer receiving FDI approval from the Swedish FDI Authority. Expectation is that clearance can be received soon.    Nicolas Notebaert, CEO of VINCI Concessions, said: “I am pleased to welcome Helios and its team within VINCI Concessions, experts in providing energy renewable sources thanks to solar and energy storage business in Nordic countries.”    Magnora made its first and second investment in Helios AB in January and September of 2021 and this initial investment has already been recovered through multiple dividends from Helios.  AGV Renewable Energy Hafslund Gamcap

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