16 September 2026 
Magnora Data Center ASA acquires 50% stake in joint venture with Sunly to develop up to 400 MW data center in Risti 
Magnora Data Center has entered into an agreement with the integrated energy infrastructure company Sunly AS to acquire a 50% interest in the Risti Kampus data center project. The data center campus can be connected to the power grid and to Sunly’s adjacent energy park, featuring 244 MWp solar, 144 MW BESS and 44 MW wind in development.

Key features of the Risti project:
* Scale: 180 MW in phase 1, expandable to 400 MW
* Power access: Grid connection established plus direct connection to Sunly’s energy park
* Fiber: Latency under 5 milliseconds round-trip to Helsinki
* Partner: Sunly, a leading renewables developer with international infrastructure investors backing
* Structure: 50/50 joint venture, with an MDATA option to increase to 75%

The data center property is in western Estonia, 60 km south of Tallinn and 150 km south of Helsinki. The site will connect to a substation with 180 MW of capacity available today, with zoning and cable route rights being secured. An expansion to 400 MW is planned, subject to substation upgrades. Fiber connectivity is strong, with round-trip latency to Helsinki under 5 milliseconds.

25 August 2026
Completion of transaction leading to 100% ownership in the Hämeenlinna project

Reference is made to the press release 12 August 2026 by Magnora Data Center ASA (‘MDATA’) regarding the agreement to increase MDATA’s ownership in the Hämeenlinna data center project (near Helsinki, Finland) from 70% to 100%.

MDATA is pleased to announce that all conditions precedent to the transaction have been satisfied, so the transaction is now being completed.

The Hämeenlinna project itself is progressing well and according to plan. The project has secured building permit, a firm grid connection agreement, and an LOI for district heating, back-up power and additional electricity.

12 August 2026
Magnora Data Center ASA’s ownership in Hämeenlinna data center project increases to 100%

Magnora Data Center ASA (‘MDATA’) has entered into an agreement with its partner Northern Europe Energy Group AS (‘Northern’) in the Hämeenlinna project in Finland to acquire Northern’s 30% share and as such obtain 100% ownership of the project. The agreement will be settled through a combination of cash, shares and an earn-out mechanism payable in cash. The share component consists of 1,326,666 MDATA shares (‘the MDATA Shares’) valued at NOK 15 per share, which represents a 19% premium to MDATA’s closing price today and a 26% premium to MDATA’s 30-day VWAP. The parties have agreed to keep the total consideration confidential. The settlement in shares has customary lock-up mechanisms for up to two years with some exceptions.

MDATA is positive to increasing its owner share and development scope in this project. This evolved as an opportunity during the summer through strategic discussions with Northern. The structure of the resulting share settlement reflects both parties’ strong confidence and interest in the project’s continued success as well as in MDATA’s portfolio.

MDATA is very pleased with the progress of the project including the co-operation with the municipality and other local stakeholders. Building permit was secured earlier this year and all key workstreams are on track in maturing this powered-land project towards a Final Investment Decision.

The transaction is subject to customary conditions and is expected to take place during September 2026. In connection with completion, MDATA will deliver the MDATA Shares either by a delivery of treasury shares, by issuing new shares pursuant to the Board of Directors’ existing authority to do so, or a combination thereof. No assurances can be given that the conditions will be met and that the transaction will be completed.

Legal advisor to MDATA was Advokatfirmaet BAHR AS.