Saga Pure — AGM Information 2021

May 26, 2021

PROTOKOLL FOR

ORDINÆR GENERALFORSAMLING

$\mathbf{I}$

SAGA PURE ASA

(org.nr. 995 359 774)

("Selskapet")

Møtet ble avholdt 26. mai 2021, kl. 10.00, i Selskapets lokaler, Sjølyst plass 2., 7. etg., 0278 Oslo, Norge.

I henhold til styrets innkalling til ordinær generalforsamling forelå slik dagsorden:

• 1. Åpning av generalforsamlingen av styrets leder eller den han bemyndiger
• 1. Valg av møteleder
• 1. Valg av en person til å medundertegne protokollen sammen med møteleder
• 1. Godkjennelse av innkalling og agenda
• 1. Godkjennelse av årsregnskapet og årsberetningen for 2020, herunder konsernregnskapet
• 1. Godkjennelse av revisors godtgjørelse
• 1. Fastsettelse av godtgjørelse til styret
• 1. Godkjennelse av retningslinjer for lønn og annen godtgjørelse til ledende personer
• 1. Opprettelse av valgkomité vedtektsendring
• 1. Valg av medlemmer til valgkomité
• 1. Fastsettelse av godtgjørelse til valgkomiteens medlemmer
• 1. Vedtektsendring
• 1. Forslag om å gi styret fullmakt til å tildele aksjeopsjoner
• 1. Forslag om tildeling av fullmakt til å beslutte utbytteutdeling

In case of discrepancy between the Norwegian language original text and the English language translation, the Norwegian text shall prevail

MINUTES FROM

ANNUAL GENERAL MEETING

IN

SAGA PURE ASA

(reg.no. 995 359 774)

(the "Company")

Held 26 May 2021 at 10.00 (CEST), at the offices of the Company, Siølyst plass 2, 7^th floor, 0278 Oslo, Norway.

In accordance with the Board of Directors' notice to the annual general meeting the following was at the agenda:

• 1. Opening of the General Meeting by the Chairman of the Board of Directors or the person he elects
• 1. Election of a person to chair the General Meeting
• 1. Election of a person to co-sian the minutes together with the Chairman of the General Meeting
• 1. Approval of the summons and agenda
• 1. Approval of the annual accounts and the directors' report for the financial year 2020, including the consolidated accounts for the group
• 1. Approval of the auditor's fee
• 1. Determination of remuneration to the Board of Directors
• 1. Approval of guidelines for salary and other remuneration to leading personnel
• 1. Establishment of nomination committee - amendment of articles
• 1. Election of members to nomination committee

$\mathbf{1}$ ÅPNING AV GENERALFORSAMLINGEN AV STYRETS LEDER ELLER DEN HAN BEMYNDIGER

Generalforsamlingen ble åpnet av styreleder Martin Nes på vegne av styret.

Det ble foretatt opptak av fortegnelse over møtende aksjeeiere representert ved deltakelse eller fullmakt. Fortegnelsen er vedlagt denne protokollen som Vedlegg 1.

$\overline{2}$ VALG AV MØTELEDER

Martin Nes ble valgt til møteleder. Beslutningen ble truffet med nødvendig flertall, jf. avstemningsresultatet inntatt som Vedlegg 2 til denne protokollen.

$\overline{\mathbf{3}}$ VALG AV EN PERSON TIL Å MEDUNDERTEGNE PROTOKOLLEN

Espen Lundaas ble valgt til å undertegne protokollen sammen med møteleder. Beslutningen ble truffet med nødvendig flertall, jf. avstemningsresultatet inntatt som Vedlegg 2 til denne protokollen.

$\overline{a}$ GODKJENNELSE AV INNKALLING OG AGENDA

Møteleder reiste spørsmål om det var bemerkninger til innkallingen eller agendaen.

Da det ikke fremkom noen innvendinger, ble innkallingen og dagsorden ansett som godkjent.

• 1. Determination of remuneration to the members of the nomination committee
• 1. Amendment of articles
• 1. Proposal to authorize the Board to grant share options
• 1. Proposal for grant of an authorization to resolve dividend distributions
• $\mathbf{1}$ OPENING OF THE GENERAL MEETING BY THE CHAIRMAN OF THE BOARD OF DIRECTORS OR THE PERSON HE ELECTS

The general meeting was opened by Chairman Martin Nes on behalf of the board of directors.

It was taken attendance of the shareholders present in person or by proxy. The list of voting shares present is enclosed to these minutes as Appendix 1.

$\overline{2}$ ELECTION OF A PERSON TO CHAIRM THE GENERAL MEETING

Martin Nes was elected to chair the general meeting. The resolution was passed with the required majority, cf. the result of said voting set out in Appendix 2 to the minutes.

$\overline{\mathbf{3}}$ ELECTION OF A PERSON TO CO-SIGN THE MINUTES TOGETHER WITH THE CHAIRMAN OF THE GENERAL MEETING

Espen Lundaas was elected to co-sign the minutes together with the Chairman of the General Meeting. The resolution was passed with the required majority, cf. the result of said voting set out in Appendix 2 to the minutes.

APPROVAL OF THE SUMMONS AND $\overline{a}$ AGENDA

The chairman of the general meeting raised the question whether there were any objections to the notice or the agenda of the general meeting.

No such objections were made, and the notice and the agenda were approved. The resolution

Beslutningen ble truffet med nødvendig flertall, jf. avstemningsresultatet inntatt som Vedlegg 2 til denne protokollen.

Møtelederen erklærte generalforsamlingen som lovlig satt.

GODKJENNELSE AV ÅRSREGNSKAPET OG 5 5 ÅRSBERETNINGEN FOR 2020, HERUNDER KONSERNREGNSKAPET

Årsregnskapet, årsberetningen og revisors beretning for regnskapsåret 2020, herunder konsernregnskapet og redegjørelsen for foretaksstyring som er avgitt i henhold til regnskapsloven § 3-3b, er gjort tilgjengelig på Selskapets hjemmesider www.saga-pure.com og på www.newsweb.no.

Møteleder viste til ovennevnte dokumenter og redegjorde for styrets forslag.

Generalforsamlingen fattet deretter følgende vedtak i overenstemmelse med styrets forslag:

Årsregnskapet og årsberetningen for regnskapsåret 2020 for Saga Pure ASA, herunder konsernregnskapet, godkjennes. Morselskapets positive årsresultat på NOK 25,719 millioner henføres til udekket tap. Utbytte utdeles ikke.

Beslutningen ble truffet med nødvendig flertall, jf. avstemningsresultatet inntatt som Vedlegg 2 til denne protokollen.

6 GODKJENNELSE AV REVISORS GODTGJØRELSE

Møteleder redegjorde for styrets forslag.

was passed with the required majority, cf. the result of said voting set out in Appendix 2 to the minutes.

The chairman of the general meeting declared that the general meeting as lawfully convened.

APPROVAL OF THE ANNUAL ACCOUNTS AND THE DIRECTOR'S REPORT FOR THE FINANCIAL YEAR 2020, INCLUDING THE CONSOLIDATED ACCOUNTS FOR THE GROUP

The annual accounts, the director's report and the auditor's report for the financial year 2020, including the consolidated accounts for the group and the statement on corporate governance made in accordance with section 3-3b of the Norwegian Accounting Act, have been made available on the Company's internet site www.saga-pure.com and through www.newsweb.no.

The Chairman referred to the abovementioned documents and presented the Board's proposal.

In accordance with the Board's proposal, the General Meeting passed the following resolution:

The annual accounts and the directors' report for the financial year 2020 for Saga Tankers ASA, including the consolidated accounts for the group, are approved. The parent company's profit of NOK 25.719 million shall be allocated to Accumulated losses. No dividends shall be paid.

The resolution was passed with the required majority, cf. the result of said voting set out in Appendix 2 to the minutes.

6 APPROVAL OF THE AUDITOR'S FEE

The Chairman of the General Meeting gave an account for the Board's proposal.

Generalforsamlingen fattet deretter følgende vedtak i overenstemmelse med styrets forslag:

Revisors godtgjørelse godkjennes etter regning, som nærmere spesifisert i note til årsreanskapet.

Beslutningen ble truffet med nødvendig flertall, jf. avstemningsresultatet inntatt som Vedlegg 2 til denne protokollen.

$\overline{7}$ FASTSETTELSE AV GODTGJØRELSE TIL STYRET

Møteleder redegjorde for styrets forslag.

Generalforsamlingen fattet deretter følgende vedtak i overenstemmelse med styrets forslag:

Godtgjørelse til styrets medlemmer for perioden fra ordinær generalforsamling i 2020 til ordinær generalforsamling i 2021 utbetales som følger:

• Styreleder: NOK 140 000
• Øvrige styremedlemmer: NOK 100 000

Godtgjørelse til styrets medlemmer for perioden fra ordinær generalforsamling 2021 til ordinær generalforsamling 2022 skal utbetales som følger:

• Styreleder: NOK 250 000
• Øvrige styremedlemmer: NOK 200 000

Beslutningen ble truffet med nødvendig flertall, jf. avstemningsresultatet inntatt som Vedlegg 2 til denne protokollen.

In accordance with the Board's proposal, the General Meeting passed the following resolution:

The auditor's fee is approved as per invoice, as further specified in note to the annual accounts.

The resolution was passed with the required majority, cf. the result of said voting set out in Appendix 2 to the minutes.

$\overline{7}$ DETERMINATION OF REMUNERATION TO THE BOARD OF DIRECTORS

The Chairman of the General Meeting gave an account for the Board's proposal.

In accordance with the Board's proposal, the General Meeting passed the following resolution:

Remuneration to the members of the Board of Directors for the period from the annual general meeting in 2020 until the annual general meeting in 2021 shall be paid as following:

• Chairman: NOK 140,000
• Directors: NOK 100,000

Remuneration to the members of the Board of Directors for the period from the annual general meeting in 2021 until the annual general meeting in 2022 shall be paid as following:

• Chairman: NOK 250,000
• Directors: NOK 200,000 $\overline{a}$

The resolution was passed with the required majority, cf. the result of said voting set out in Appendix 2 to the minutes.

8 GODKJENNELSE AV RETNINGSLINJER FOR LØNN OG ANNEN GODTGJØRELSE TIL LEDENDE PERSONER

Møteleder redegjorde for styrets forslag, og viste til styrets utkast til retningslinjer for lønn og annen godtgjørelse til ledende personer.

Generalforsamlingen fattet deretter følgende vedtak i overenstemmelse med styrets forslag:

Generalforsamlingen godkjenner Selskapets retningslinjer for lønn og annen godtgjørelse til Selskapets ledende personer.

Beslutningen ble truffet med nødvendig flertall, if. avstemningsresultatet inntatt som Vedlegg 2 til denne protokollen.

9 OPPRETTELSE AV VALGKOMITÉ VEDTEKTSENDRING

Møteleder redegjorde for styrets forslag.

Generalforsamlingen fattet deretter følgende vedtak i overenstemmelse med styrets forslag:

Selskapet skal ha en valgkomité. Styrets forslag til retningslinjer for valgkomiteen, vedlagt som Vedlegg 3 til protokoll for generalforsamlingen, godkjennes.

Det skal inntas en ny § 9 i Selskapets vedtekter, med følgende ordlyd:

"Selskapet skal ha en valgkomité bestående av 2-3 medlemmer. Medlemmene skal velges av generalforsamlingen.

8 APPROVAL OF GUIDELINES FOR SALARY AND OTHER REMUNERATION TO LEADING PERSONNEL

The Chairman of the General Meeting gave an account for the Board's proposal and referred to the draft guidelines for salary and other remuneration to leading personnel prepared by the Board.

In accordance with the Board's proposal, the General Meeting passed the following resolution:

The general meeting approves the Company's quidelines on salary and other remuneration for the Company's leading persons.

The resolution was passed with the required majority, cf. the result of said voting set out in Appendix 2 to the minutes.

$\overline{9}$ ESTABLISHMENT OF NOMINATION COMMITTEE - AMENDMENT OF ARTICLES

The Chairman of the General Meeting gave an account for the Board's proposal.

In accordance with the Board's proposal, the General Meeting passed the following resolution:

The Company shall have a nomination committee. The proposal from the Board of Directors for instructions to the nomination committee, enclosed as Appendix 3 to the minutes of the general meeting is approved.

A new $§$ 9 shall be implemented in the Company's articles of association, with the following wording:

"The Company shall have a nomination committee of 2-3 members. The members shall be elected by the general meeting.

Valgkomiteen skal foreslå kandidater til styret og valgkomité, samt honorar til medlemmer av styre og valgkomité. Valgkomiteens innstillinger skal begrunnes.

Valgkomiteens medlemmer velges for to år av gangen."

Beslutningen ble truffet med nødvendig flertall, jf. avstemningsresultatet inntatt som Vedlegg 2 til denne protokollen.

10 VALG AV MEDLEMMER TIL VALGKOMITÉ

Møteleder redegjorde for styrets forslag.

Generalforsamlingen fattet deretter følgende vedtak i overenstemmelse med styrets forslag:

Som medlemmer av valgkomiteen velges Lars Christian Stugaard og Kristin Hellebust. Lars Christian Stugaard skal være leder av valgkomiteen.

Beslutningen ble truffet med nødvendig flertall, jf. avstemningsresultatet inntatt som Vedlegg 2 til denne protokollen.

FASTSETTELSE AV GODTGJØRELSE TIL 11 VALGKOMITEENS MEDLEMMER"

Møteleder redegjorde for styrets forslag.

Generalforsamlingen fattet deretter følgende vedtak i overenstemmelse med styrets forslag:

Medlemmer av Selskapets valgkomité skal motta følgende honorarer for perioden fra tiltredelse til den ordinære generalforsamlingen i 2022:

The nomination committee shall propose candidates for the board of directors and the nomination committee, as well as remuneration for the members of the board of directors and nomination committee. The proposals of the nomination committee shall be reasoned.

The members of the nomination committee shall be elected for terms of two years."

The resolution was passed with the required majority, cf. the result of said voting set out in Appendix 2 to the minutes.

10 ELECTION OF MEMBERS TO NOMINATION COMMITTEE

The Chairman of the General Meeting gave an account for the Board's proposal.

In accordance with the Board's proposal, the General Meeting passed the following resolution:

Lars Christian Stugaard and Kristin Hellebust are elected as members of the nomination committee. Lars Christian Stuggard shall be the chair of the nomination committee.

The resolution was passed with the required majority, cf. the result of said voting set out in Appendix 2 to the minutes.

11 DETERMINATION OF REMUNERATION TO THE MEMBERS OF THE NOMINATION COMMITTEE

The Chairman of the General Meeting gave an account for the Board's proposal.

In accordance with the Board's proposal, the General Meeting passed the following resolution:

"Members of the Company's nomination committee shall receive the following remuneration for the period from

• Valgkomiteens leder: NOK 20 000
• Øvrige medlemmer: NOK 15 000

Beslutningen ble truffet med nødvendig flertall, if. avstemningsresultatet inntatt som Vedlegg 2 til denne protokollen.

$12$ VEDTEKTSENDRING

Møteleder redegjorde for styrets forslag.

Generalforsamlingen fattet deretter følgende vedtak i overenstemmelse med styrets forslag:

"Selskapets vedtekter § 6 skal endres fra:

"Den ordinære generalforsamling skal behandle og avgjøre:

• $(i)$ Godkjennelse av årsregnskapet og årsberetningen, herunder utdeling av utbytte,
• $(ii)$ Styrets erklæring om fastsettelse av lønn og annen godtgjørelse til ledende ansatte, og
• $(iii)$ Andre saker som etter lov eller vedtektene hører under generalforsamlingen.

Dokumenter som gjelder saker som skal behandles på generalforsamlingen, herunder dokumenter som skal vedlegges innkallingen til generalforsamlingen, trenger ikke sendes til aksjeeierne dersom dokumentene er gjort tilgjengelig på selskapets internettsider. En aksjeeier kan likevel kreve å få tilsendt dokumenter som gjelder saker som skal behandles på generalforsamlingen, jf. allmennaksjeloven § 5-11a.

establishment of the committee until the annual general meeting in 2022:

• Chair: NOK 20,000
• Other members: 15,000

The resolution was passed with the required majority, cf. the result of said voting set out in Appendix 2 to the minutes.

$12$ AMENDMENT OF ARTICLES

The Chairman of the General Meeting gave an account for the Board's proposal.

In accordance with the Board's proposal, the General Meeting passed the following resolution:

"§ 6 of the Company's articles of association shall be amended from:

"The annual general meeting shall discuss and resolve:

• $(i)$ Approval of the annual accounts and the directors' report, including distribution of dividend,
• The Board's statement on $(ii)$ determination of salary and other remuneration to leading employees, and
• $(iii)$ Other items that pursuant to law or the articles of association shall be discussed by the general meeting.

Documents relating to matters to be dealt with by the Company's general meeting, including documents that by law shall be included in or attached to the notice of the general meeting, do not need to be sent to the shareholders if the documents are available at the Company's website. A shareholder may nonetheless require to have documents relating to matters to be dealt with by the Company's general meeting sent to the shareholder, cf. the

Aksjeeierne som ønsker å møte på generalforsamlingen skal meddele dette til selskapet innen 5 dager for generalforsamlingen.

Aksjeeierne skal kunne avgi sin stemme skriftlig, herunder ved bruk av elektronisk kommunikasjon i en periode før generalforsamlingen, jf. allmennaksjeloven § 3-8b. Slik stemme kan avgis tidligst etter innkalling til generalforsamlingen med vedlegg er gjort tilgjengelig på selskapets internettside, og må være mottatt av selskapet senest dagen før generalforsamlingen skal avholdes."

til

Den ordinære generalforsamling skal behandle og avgjøre:

• $(i)$ Godkjennelse av årsregnskapet og årsberetningen, herunder utdeling av utbytte, og
• $(ii)$ Andre saker som etter lov eller vedtektene hører under generalforsamlingen.

Dokumenter som gjelder saker som skal behandles på generalforsamlingen, herunder dokumenter som skal vedlegges innkallingen til generalforsamlingen, trenger ikke sendes til aksjeeierne dersom dokumentene er gjort tilgjengelig på selskapets internettsider. En aksjeeier kan likevel kreve å få tilsendt dokumenter som gjelder saker som skal behandles på generalforsamlingen, jf. allmennaksjeloven § 5-11a.

Aksjeeierne skal kunne avgi sin stemme skriftlig, herunder ved bruk av elektronisk kommunikasjon i en periode før

Norwegian Public Limited Liability Companies Act section 5-11a.

Shareholders that wish to participate in the general meeting shall notify the Company of this within 5 days prior to the general meeting.

Shareholders may cast votes in writing, including through use of electronic communication, in a period prior to the general meeting, cf. the Norwegian Public Limited Liability Companies Act section 3-8b. Such vote may at the earliest be cast following such time as the notice to the general meeting has been made available at the web pages of the company, and must be received by the company at the latest the day before the general meeting shall be held."

To

"The annual general meeting shall discuss and resolve:

• $(i)$ Approval of the annual accounts and the directors' report, including distribution of dividend, and
• $(ii)$ Other items that pursuant to law or the articles of association shall be discussed by the general meeting.

Documents relating to matters to be dealt with by the Company's general meeting, including documents that by law shall be included in or attached to the notice of the general meeting, do not need to be sent to the shareholders if the documents are available at the Company's website. A shareholder may nonetheless require to have documents relating to matters to be dealt with by the Company's general meeting sent to the shareholder, cf. the Norwegian Public Limited Liability Companies Act section 5-11a.

Shareholders may cast votes in writing, including through use of electronic communication, in a period prior to the general

generalforsamlingen, jf. allmennaksjeloven § 3-8b. Slik stemme kan avgis tidligst etter innkalling til generalforsamlingen med vedlegg er gjort tilgjengelig på selskapets internettside, og må være mottatt av selskapet senest dagen før generalforsamlingen skal avholdes."

Beslutningen ble truffet med nødvendig flertall, jf. avstemningsresultatet inntatt som Vedlegg 2 til denne protokollen.

13 FORSLAG OM Å GI STYRET FULLMAKT TIL Å TILDELE AKSJEOPSJONER

Møteleder redegjorde for styrets forslag.

Generalforsamlingen fattet deretter følgende vedtak i overenstemmelse med styrets forslag:

Generalforsamlingen gir styret fullmakt til å utstede opsjoner til ansatte og nøkkelpersoner i Selskapet for opp til 20 millioner aksjer.

Styret kan fastsette hvem som skal motta opsjoner, antall opsjoner som kan tildeles den enkelte, innløsningskurs og øvrige vilkår for opsjonene.

Beslutningen ble truffet med nødvendig flertall, jf. avstemningsresultatet inntatt som Vedlegg 2 til denne protokollen.

14 FORSLAG OM TILDELING AV FULLMAKT TIL Å BESLUTTE UTBYTTEUTDELING

Møteleder redegjorde for styrets forslag.

Generalforsamlingen fattet deretter følgende vedtak i overenstemmelse med styrets forslag: meeting, cf. the Norwegian Public Limited Liability Companies Act section 3-8b. Such vote may at the earliest be cast following such time as the notice to the general meeting has been made available at the web pages of the company, and must be received by the company at the latest the day before the general meeting shall be held."

The resolution was passed with the required majority, cf. the result of said voting set out in Appendix 2 to the minutes.

13 PROPOSAL TO AUTHORIZE THE BOARD TO GRANT SHARE OPTIONS

The Chairman of the General Meeting gave an account for the Board's proposal.

In accordance with the Board's proposal, the General Meeting passed the following resolution:

The general meeting authorises the Board of Directors to allocate options to employees and key persons in the Company for up to 20 million shares.

The Board of Directors shall be authorized to determine who should be offered options, the number of options to be allocated to each individual, strike price and other conditions for the options.

The resolution was passed with the required majority, cf. the result of said voting set out in Appendix 2 to the minutes.

14 PROPOSAL FOR GRANT OF AN AUTHORIZATION TO RESOLVE DIVIDEND DISTRIBUTIONS

The Chairman of the General Meeting gave an account for the Board's proposal.

In accordance with the Board's proposal, the General Meeting passed the following resolution:

Styret gis fullmakt til å beslutte utdeling av utbytte på grunnlag av årsregnskapet for 2020, jf. allmennaksjeloven § 8-2 (2).

The Board of Directors is granted an authorization to resolve dividend distributions based on the annual accounts for 2020, cf. the Norwegian Public Limited Companies Act section 8-2 (2).

The authorization shall be valid until the

Fullmakten skal gjelde frem til ordinær generalforsamling i 2022, men likevel ikke senere enn 30. juni 2022.

* * *

Annual General Meeting in 2022, however not

Ingen andre saker foreligger til behandling.

No other matters are on the agenda.

later than 30 June 2022.

26 May 2021

Martin Nes Møteleder / Chairman of the General Meeting

Espen Lundaas Medundertegner / Co-signee

Vedless / Appendix 1

Totalt representert

ISIN:	NO0010572589 SAGA PURE ASA
Generalforsamlingsdato: 26.05.2021 10.00
Dagens dato:	26.05.2021

Antall stemmeberettigede personer representert/oppmøtt : 1

	Antall aksjer % kapital
Total aksjer	478 878 423
- selskapets egne aksjer	0
Totalt stemmeberettiget aksjer	478 878 423
Representert ved forhåndsstemme	235 899 692	49,26 %
Sum Egne aksjer	235 899 692	49,26 %
Representert ved fullmakt	12 864 206	2,69 %
Representert ved stemmeinstruks	4 0 1 9	0,00%
Sum fullmakter	12 868 225	2,69%
Totalt representert stemmeberettiget	248 767 917	51,95 %
Totalt representert av AK	248 767 917	51,95 %

Kontofører for selskapet:

For selskapet:

DNB Bank ASA

SAGA PURE ASA

amiday

Total Represented

LISIN :	NO0010572589 SAGA PURE ASA
General meeting date: 26/05/2021 10.00
Today:	26.05.2021

Number of persons with voting rights represented/attended: 1

	Number of shares % sc
Total shares	478,878,423
- own shares of the company	0
Total shares with voting rights	478,878,423
Represented by advance vote	235,899,692	$49.26\%$
Sum own shares	235,899,692	49.26 %
Represented by proxy	12,864,206	2.69%
Represented by voting instruction	4,019	$0.00 \%$
Sum proxy shares	12,868,225	2.69%
Total represented with voting rights	248,767,917	51.95%
Total represented by share capital	248,767,917 51.95 %

Registrar for the company:

Signature company:

DNB Bank ASA

SAGA PURE ASA

Vedlegg/Appendix 2

Protokoll for generalforsamling SAGA PURE ASA

ISIN:		NO0010572589 SAGA PURE ASA
Generalforsamlingsdato: 26,05,2021 10,00
Dagens dato:	26.05.2021
Aksjeklasse	For	Mot	Avgitte	Avstår		Ikke avgitt Stemmeberettigede representerte aksjer
Sak 2 Valg av møteleder
Ordinær	248 766 103	0	248 766 103	1814	0	248 767 917
% avgitte stemmer	100,00 %	0.00%		0,00 %
% representert AK	100,00 %	0,00%	100,00 %	0,00%	0,00 %
% total AK	51,95 %	0,00%	51,95 %	0,00%	0,00 %
Totalt	248 766 103	0	248 766 103	1814	0	248 767 917
Sak 3 Valg av en person til å medundertegne protokollen sammen med møteleder
Ordinær	248 765 103	0	248 765 103	2814	0	248 767 917
% avgitte stemmer	100,00 %	0,00%		0,00 %
% representert AK	100,00 %	0,00%	100,00 %	0,00 %	0,00%
% total AK	51,95 %	0,00 %	51,95 %	0,00 %	0,00%
Totalt	248 765 103	0	248 765 103	2814	0	248 767 917
Sak 4 Godkjennelse av innkalling og agenda
Ordinær	248 766 123	0	248 766 123	1 7 9 4	0	248 767 917
% avgitte stemmer	100,00 %	0,00%		0,00%
% representert AK	100,00 %	0,00%	100,00 %	0,00%	0,00%
% total AK	51,95 %	0,00%	51,95 %	0,00%	0,00%
Totalt	248 766 123	0	248 766 123	1794	0	248 767 917
Sak 5 Godkjennelse av årsregnskapet og årsberetningen for 2020, herunder konsernregnskapet
Ordinær	248 767 897	0	248 767 897	20	0	248 767 917
% avgitte stemmer	100,00 %	0,00 %		0,00 %
% representert AK	100,00 %	0,00 %	100,00 %	0,00%	0,00%
% total AK	51,95 %	0,00 %	51,95 %	0,00%	0,00%
Totalt	248 767 897	0	248 767 897	20	0	248 767 917
Sak 6 Godkjennelse av revisors godtgjørelse
Ordinær	248 766 687	0	248 766 687	1 2 3 0	0	248 767 917
% avgitte stemmer	100,00 %	0,00%		0,00 %
% representert AK	100,00 %	0,00%	100,00 %	0,00 %	0,00 %
% total AK	51,95 %	0,00%	51,95 %	0,00%	0,00 %
Totalt	248 766 687	0	248 766 687	1 2 3 0	o	248 767 917
Sak 7 Fastsettelse av godtgjørelse til styret
Ordinær	248 755 281	4 500	248 759 781	8 1 3 6	0	248 767 917
% avgitte stemmer	100,00 %	$0.00 \%$		0,00%
% representert AK	100,00 %	0.00 %	100,00 %	0,00%	0,00%
% total AK	51,95 %	0,00%	51,95 %	0,00%	0.00%
Totalt	248 755 281	4500	248 759 781	8 1 3 6	о	248 767 917
Sak 8 Godkjennelse av retningslinjer for lønn og annen godtgjørelse til ledende personer
Ordinær	248 764 357	1 500	248 765 857	2 0 6 0	0	248 767 917
% avgitte stemmer	100,00 %	0,00%		0,00 %
% representert AK	100,00 %	0,00 %	100,00 %	0,00 %	0,00%
% total AK	51,95 %	0,00%	51,95 %	0,00%	0,00%
Totalt	248 764 357	1500	248 765 857	2060	0	248 767 917
Sak 9 Opprettelse av valgkomité - vedtektsendring
Ordinær	248 728 817	35 750	248 764 567	3 3 5 0	0	248 767 917
% avgitte stemmer	99,99 %	0,01%		0,00%
% representert AK	99,98 %	0,01%	100,00 %	0,00%	0,00%
% total AK	51,94 %	0,01%	51,95 %	0,00%	0,00%
Totalt	248 728 817	35 750	248 764 567	3350	o	248 767 917

Aksjeklasse	For	Mot	Avgitte	Avstår	Ikke avgitt	Stemmeberettigede representerte aksjer
Sak 10 Valg av medlemmer til valgkomité
Ordinær	248 728 817	37 250	248 766 067	1850	$\mathbf{0}$	248 767 917
% avgitte stemmer	99,99 %	0,02%		0,00%
% representert AK	99,98 %	0,02%	100,00 %	0,00%	0,00%
% total AK	51,94 %	0.01%	51,95 %	0.00%	0,00%
Totalt	248 728 817	37 250	248 766 067	1850	0	248 767 917
Sak 11 Fastsettelse av godtgjørelse til valgkomiteens medlemmer
Ordinær	248 731 857	2 500	248 734 357	33 560	0	248 767 917
% avgitte stemmer	100,00 %	0,00%		0,00%
% representert AK	99,99 %	0,00%	99,99 %	0,01%	0,00%
% total AK	51,94 %	0,00%	51,94 %	0,01%	0,00%
Totalt	248 731 857	2500	248 734 357	33 560	0	248 767 917
Sak 12 Vedtektsendring
Ordinær	248 576 051	830	248 576 881	191 036	0	248 767 917
% avgitte stemmer	100,00 %	0.00%		0,00%
% representert AK	99,92 %	0,00%	99,92 %	0,08%	0,00%
% total AK	51,91 %	0,00%	51,91 %	0,04%	0,00 %
Totalt	248 576 051	830	248 576 881	191 036	0	248 767 917
Sak 13 Forslag om å gi styret fullmakt til å tildele aksjeopsjoner
Ordinær	247 260 324	1 505 743	248 766 067	1850	0	248 767 917
% avgitte stemmer	99,40 %	0,61%		0,00%
% representert AK	99,39 %	0,61%	100,00 %	0,00%	0,00%
% total AK	51,63 %	0,31%	51,95 %	0,00%	0,00%
Totalt	247 260 324 1 505 743		248 766 067	1850	0	248 767 917
Sak 14 Forslag om tildeling av fullmakt til å beslutte utbytteutdeling
Ordinær	248 760 566	6806	248 767 372	545	0	248 767 917
% avgitte stemmer	100,00 %	0,00%		0,00%
% representert AK	100,00 %	0,00%	100,00 %	0,00%	0,00%
% total AK	51,95 %	0,00%	51,95 %	0,00 %	0,00%
Totalt	248 760 566	6806	248 767 372	545	0	248 767 917

Kontofører for selskapet:

For selskapet:

DNB Bank ASA

SAGA PURE ASA aundan

Aksjeinformasjon

Navn	Totalt antall aksjer Pålydende Aksjekapital Stemmerett
Ordinær	478 878 423	$0.01$ 4 788 784,23 Ja
Sum:

§ 5-17 Alminnelig flertallskrav
krever flertall av de avgitte stemmer

§ 5-18 Vedtektsendring
krever tilslutning fra minst to tredeler så vel av de avgitte stemmer
som av den aksjekapital som er representert på generalforsamlingen

Protocol for general meeting SAGA PURE ASA

$\sqrt{\text{ISIN}}$ : NO0010572589 SAGA PURE ASA

General meeting date: 26/05/2021 10.00

$\vert$ Today: 26.05.2021

Shares class	FOR	Against	Poll in
Agenda item 2 Election of a person to chair the General Meeting
Ordinær	248,766,103	0	248,766,103
votes cast in %	100.00 %	0.00 %
representation of sc in %	100.00 %	0.00 %	100.00 %
total sc in %	51.95 %	0.00%	51.95 %

Total	248,766,103		0 248,766,103	1,814	0	248,767,917
Agenda item 3 Election of a person to co-sign the minutes together with the Chairman of the General Meeting
Ordinær	248,765,103	0	248,765,103	2,814	0	248,767,917
votes cast in %	100,00 %	0.00%		0.00%
representation of sc in %	100.00 %	$0.00 \%$	100.00 %	0.00%	0.00%
total sc in %	51.95 %	0.00 %	51,95 %	0.00%	0.00%
Total	248,765,103	0	248,765,103	2,814	o	248,767,917
Agenda item 4 Approval of the summons and agenda
Ordinær	248,766,123	0	248,766,123	1,794	0	248,767,917
votes cast in %	100.00 %	$0.00 \%$		0.00%
representation of sc in %	100.00 %	$0.00 \%$	100.00 %	0.00%	0.00%
total sc in %	51.95 %	$0.00 \%$	51,95 %	0.00%	0.00%
Total	248,766,123		0 248,766,123	1,794	$\mathbf{o}$	248,767,917
Agenda item 5 Approval of the annual accounts and the directors' report for the financial year 2020, including the
consolidated accounts for the group
Ordinær	248,767,897	0	248,767,897	20	0	248,767,917
votes cast in %	100.00 %	$0.00 \%$		0.00%
representation of sc in %	100.00 %	0.00 %	100.00 %	0.00%	0.00%
total sc in %	51.95 %	$0.00 \%$	51.95 %	0.00%	0.00%
Total	248,767,897	0	248,767,897	20	0	248,767,917
Agenda item 6 Approval of the auditors fee
Ordinær	248,766,687	0	248,766,687	1,230	0	248,767,917
votes cast in %	100.00 %	0.00%		0.00%
representation of sc in %	100.00 %	0.00%	100,00 %	0.00%	0.00%
total sc in %	51.95 %	$0.00 \%$	51.95 %	0.00%	0.00%
Total	248,766,687	0	248,766,687	1,230	o	248,767,917
Agenda item 7 Determination of remuneration to the Board of Directors
Ordinær	248,755,281	4,500	248,759,781	8,136	0	248,767,917
votes cast in %	100.00 %	0.00%		0.00%
representation of sc in %	100.00 %	0.00%	100.00 %	0.00%	0.00%
total sc in %	51.95 %	0.00%	51.95 %	0.00%	$0.00 \%$
Total	248,755,281		4,500 248,759,781	8,136	O	248,767,917
Agenda item 8 Approval of guidelines for salary and other remuneration to leading personnel
Ordinær	248,764,357	1,500	248,765,857	2,060	$\mathbf 0$	248,767,917
votes cast in %	100.00 %	0.00%		0.00%

Abstain Poll not registered Represented shares

$0.00 \%$

$0.00 \%$

$\mathbf 0$

1,814

$0.00 \%$

$0.00 \%$

$0.00 \%$

with voting rights

248,767,917

votes cast in %	100.00 %	$0.00 \%$		$0.00 \%$
representation of sc in %	100.00 %	0.00%	100.00 %	0.00%	0.00%
total sc in %	51.95 %	$0.00 \%$	51.95%	0.00%	0.00%
Total	248,764,357	1.500	248,765,857	2.060	0	248,767,917
Agenda item 9 Establishment of nomination committee amendment of articles
Ordinær	248,728,817	35.750	248,764,567	3,350	0	248,767,917
votes cast in %	99.99 %	0.01%		$0.00 \%$
representation of sc in %	99.98 %	0.01%	100.00 %	0.00%	$0.00 \%$
total sc in %	51.94 %	0.01%	51.95 %	$0.00 \%$	$0.00 \%$

Shares class	FOR	Against	Poll in	Abstain		Poll not registered Represented shares with voting rights
Total	248,728,817		35,750 248,764,567	3,350	$\bf{o}$	248,767,917
Agenda item 10 Election of members to nomination committee
Ordinær	248,728,817	37,250	248,766,067	1,850	0	248,767,917
votes cast in %	99.99 %	0.02%		$0.00 \%$
representation of sc in %	99,98 %	0.02%	100.00 %	0.00%	0.00%
total sc in %	51,94 %	0.01%	51,95 %	0.00%	0.00%
Total	248,728,817		37,250 248,766,067	1,850	0	248,767,917
Agenda item 11 Determination of remuneration to the members of the nomination committee
Ordinær	248,731,857	2,500	248,734,357	33,560	0	248,767,917
votes cast in %	100.00 %	0.00%		0.00%
representation of sc in %	99.99 %	$0.00 \%$	99.99 %	0.01%	0.00%
total sc in %	51.94 %	0.00%	51.94 %	0.01%	0.00 %
Total	248,731,857	2,500	248,734,357	33,560	0	248,767,917
Agenda item 12 Amendment of articles
Ordinær	248,576,051	830	248,576,881	191,036	0	248,767,917
votes cast in %	100.00 %	0.00%		0.00%
representation of sc in %	99.92 %	0.00%	99.92 %	0.08%	0.00%
total sc in %	51.91 %	0.00%	51.91 %	0.04%	0.00%
Total	248,576,051	830	248,576,881 191,036		0	248,767,917
Agenda item 13 Proposal to authorize the Board to grant share options
Ordinær	247,260,324	1,505,743	248,766,067	1,850	0	248,767,917
votes cast in %	99,40 %	0.61%		0.00%
representation of sc in %	99.39 %	0.61%	100.00 %	0.00%	0.00%
total sc in %	51.63 %	0.31 %	51.95 %	0.00%	0.00%
Total			247,260,324 1,505,743 248,766,067	1,850	0	248,767,917
Agenda item 14 Proposal for grant of an authorization to resolve dividend distributions
Ordinær	248,760,566	6,806	248,767,372	545	0	248,767,917
votes cast in %	100.00 %	$0.00 \%$		$0.00 \%$
representation of sc in %	100.00 %	0.00%	100.00 %	0.00%	0.00%
total sc in %	51.95 %	0.00%	51.95 %	0.00%	0.00%
Total	248,760,566		6,806 248,767,372	545	o	248,767,917

Registrar for the company:	Signature company:
DNB Bank ASA	SAGA PURE ASA

Share information

Name	Total number of shares Nominal value Share capital Voting rights
Ordinær	478.878.423	0.01 4.788.784.23 Yes
Sum:

§ 5-17 Generally majority requirement
requires majority of the given votes

S 5-18 Amendment to resolution
Requires two-thirds majority of the given votes
like the issued share capital represented/attended on the general meeting

Vedlegg/Appendix 3: Retningslinjer for valgkomiteen / Instructions to the nomination committee

INSTRUCTIONS FOR THE NOMINATION COMMITTEE

(The instructions for the nomination committee will be presented for approval by the general meeting on 26 May 2021)

$\mathbf{1}$ COMPOSITION

Saga Pure ASA ("Saga Pure" or the "Company") has established a nomination committee, cf. clause 9 of the Company's articles of association. The nomination committee shall consist of two to three members. Members are elected for two years at a time.

The Company's general meeting elects the members of the nomination committee and determines their remuneration. Costs incurred by the nomination committee shall be covered by the Company.

$\overline{2}$ RESPONSIBILITES

The nomination committee shall recommend candidates for the election of members, including chairman, to (a) the Board of the Company and (b) the nomination committee, respectively. The nomination committee shall also recommend annual remuneration to the members of the Board of the Company and the nomination committee.

$\overline{\mathbf{3}}$ RECOMMENDATIONS

$3.1$ Candidates to the Board

The nomination of candidates for election of members, including chairman, to the Board should take the following into account:

• $(i)$ the Board should be composed in such a way as to maintain the interests of the shareholders and the Company's need for competence and diversity;
• the Board' composition must satisfy applicable legal requirements and should also $(ii)$ take into consideration principles of corporate governance;
• the candidates should be likely to be approved; $(iii)$
• $(iv)$ the Board must function well as a collegiate body;
• at least two of the members should be independent of the Company's principal $(v)$ shareholders; and
• members of the Company's executive management should not be members of the $(vi)$ Board.

Before nominating a candidate for election, the nomination committee must seek confirmation from the individual in question that he or she is willing to accept the appointment if elected (i.e. obtain a declaration of willingness from such person).

$3.2$ Candidates to the nomination committee

The nomination of candidates for election of members, including chairperson, to the nomination committee should consider the following:

• $(i)$ the composition of the nomination committee should take into account the interests of the shareholders in general;
• $(ii)$ the nomination committee must satisfy applicable legal requirements and should also take into account principles of corporate governance;
• $(iii)$ the candidates should be likely to be approved;
• $(iv)$ members of the Company's executive management should not be members of the nomination committee;
• $(v)$ there is an adequate rotation of members of the nomination committee; and
• $(vi)$ the nomination committee must function well as a collegiate body.

Before nominating a candidate for election, the nomination committee must seek confirmation from the individual in question that he or she is willing to accept the appointment if elected (i.e. obtain a declaration of willingness from such person).

$3.3$ Recommendations for remuneration

Recommendation for remuneration of the members of the Board and the nomination committee. respectively, should take into account such body's significance, and ensure that the proposal is suited to the character and time commitment of the tasks carried out.

$\overline{a}$ REASONING

The recommendations should include explanations detailing how the candidates fulfil the shareholders' and the Company's needs. Such reasoning shall include information about the competence, capacity and independence of each candidate. The information about a candidate should include his or her age, education and professional experience. Any ownership interest in the Company must be disclosed, as shall any assignments on behalf of the Company and any significant position in or assignments for other companies or organisations.

The nomination committee shall consider the need for changes in the composition of the Board, and shall maintain contact with different shareholders, members of the Board and the executive management of the Company. The nomination committee must consider the Board' annual evaluation report closely. In the event of a suggestion of re-election of board members, the recommendation should also state how long the candidate has served as a member of the Board, and should detail his or her participation in board meetings.

The recommendations should also describe the working process of the nomination committee.

5 WORKING METHODS

The chairperson of the nomination committee has the main responsibility for the committee's work, and shall ensure that the committee has adequate access to necessary competence. In relation to this, the committee may use company resources or seek advice and recommendations from external sources.

The nomination committee will hold meetings to reach its decisions. Nomination committee meetings are held after they are called for by the chairperson, who is obliged to call a meeting if one of the members of the committee requests that a meeting is held. Committee meetings can be held in person, by phone or by video.

The nomination committee constitutes a quorum when at least half of its members are present at the meeting and all members have been given the opportunity to participate. Each member has one vote and decisions made by the nomination committee require simple majority of the votes represented at the meeting. In the event of an equal number of votes, the chairperson of the nomination committee has the deciding vote. The nomination committee shall produce written minutes of its meetings and shall deliver its minutes to the Company for safekeeping.

The nomination committee must look actively to the shareholders and anchor the recommendation with the Company's largest shareholders.

The Board will pass on its evaluation of its own activities and competence to the nomination committee. The chairman of the board and the chief executive officer must be summoned to at least one nomination committee meeting before the committee gives its final recommendation. The committee must collect relevant information from the Company's administration or other individuals, including from shareholders and the Board.

6 PROCESSING OF THE RECOMMENDATION TO THE GENERAL MEETING

The nomination committee's recommendations shall be completed in time to be made accessible to the shareholders in a reasonable time in advance of the general meeting. The recommendation should be submitted in writing to the chairperson of the Board.

The chairperson of the nomination committee presents the recommendation to the general meeting.

$\overline{\mathbf{z}}$ DUTY OF CONFIDENTIALITY

Given its duties, the nomination committee shall, to the greatest extent possible, ensure that information on the candidates considered for nomination is kept confidential.

The nomination committee shall keep all information it receives or collects on possible candidates confidential, and shall ensure that all such information is stored in a satisfactory manner.