Annual Report 2025

Magnora ASA

Norway: Data center, solar, battery energy storage

South Africa: Solar, onshore wind and battery energy storage

Implementation and reporting on corporate governance

Salary and other remuneration of executive personnel

Most material matters: impacts, opportunities, risks, goals, activities

Other sustainability information according to regulatory requirements

Case example: The Magnora-developed Red Sands BESS project in South Africa - including environmental assessments, energy security, societal effects, and reduced emissions

Further work on sustainability and reporting

Group consolidated statement of profit and loss

Group consolidated statement of comprehensive income

Group consolidated statement of financial position

Group consolidated statement of changes in equity

Group consolidated statement of cash flow

Notes to Group consolidated financial statements

Notes to the parent company financial statements

Shares and share options owned or controlled by the Board of Directors and Executive Management

Any use of the right to reclaim variable remuneration

Information on how the remuneration complies with the remuneration policy

Derogations and deviations from the remuneration policy from the procedure for its implementation

Comparative information on the change of remuneration and company performance

Reconciliation against annual report 2025

Independent auditor’s assurance report on salary and other remuneration to directors

We confirm, to the best of our knowledge, that the financial statements for the period January 1 to December 31, 2025, have been prepared in accordance with current applicable accounting standards, and give a true and fair view of the assets, liabilities, financial position and profit and loss of Magnora ASA as well as the consolidated group.

We also confirm that the Board of Directors’ Report includes a true and fair review of the development and performance of the business and the position of the Company and the Group, together with a description of the principal risks and uncertainties facing the Company and the Group.

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Annual Report 2025

Responsibility Statement