Reference is made to the key date announcement made by Magnora ASA (the “Company“) on 21 September 2018 (the “Notice“) regarding the Extraordinary Dividend (NOK 6 per share), the Share Capital Reduction No. 1 (NOK 0.5 per share) and the Share Capital Reduction No. 2 (NOK 2 per share) (all terms defined therein – together the “Distributions“).

Further reference is made to the announcement made on 26 October 2018 for the launch of the secondary offering by Teekay Service Holdings Cooperatief U.A. (“Teekay“) of all of its shares in the Company (the “Teekay Offering“).

The payment date for the Distributions was in the Notice set to on or about 19 November 2018. This relates to the Company agreeing to defer all distributions to its shareholders until the earlier of (i) expiry of the offer period in the Teekay Offering or (ii) 1 December 2018. As the offer period in the Teekay Offering is set to expire on 9 November 2018, the Company hereby announces that the payment date for the Distributions will be brought forward to on or about 13 November 2018.

The total amount payable under the Distributions is NOK 8.50 per share.

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For further information, please contact:

Reese McNeel, CEO, Magnora ASA
+47 415 08 186

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.