Saga Pure — Earnings Release 2021

Aug 29, 2021

Saga Pure: Second quarter 2021 financial results

Saga Pure: Second quarter 2021 financial results

(Oslo, 29 August 2021) Saga Pure ASA (Saga Pure, OSE: SAGA) reported a net

profit in the second quarter 2021 of NOK 3.5 million (Q2 2020: NOK 47.1

million), with a year-to-date return on equity of 16.5 percent, following a

positive development for the company´s investment portfolio within renewable

energy, hydrogen, circular economy and CO\2\ reductions. The Board of Directors

has decided to distribute a dividend of NOK 0.10 per share for the quarter.

"The second quarter was generally a challenging period for the green tech sector

where we observed a significant revaluation of companies across our investment

universe. Despite the market turbulence during the first half of 2021, Sage Pure

performed well and reported a return of equity of 16.5% year to date, fueled by

the operational development in the companies in which we are invested. We

continue to be highly selective in our investment approach and believe the

market development will provide opportunities," says Bjørn Simonsen, Chief

Executive Officer of Saga Pure.

Saga Pure reported a net profit in the second quarter 2021 of NOK 3.5 million

(Q2 2020: NOK 47.1 million), with a year-to-date return on equity of 16.5

percent. The company had NOK 796 million in cash at the end of the quarter.

During the second quarter, Saga Pure partnered with Nel ASA and Norwegian

Hydrogen AS and invested in Hyon AS. The company has been developing hydrogen

energy solutions for the maritime sector since 2017, and will focus on the

further development and commercialization of the hydrogen and bunkering solution

for harbors.

"Sustainability is at the top of the agenda within the maritime sector, and

hydrogen will play an important role in the future, maritime fuel mix. An

entirely new value chain needs to be developed, and a key part of that is

transferring hydrogen from the harbors to the vessels. Hyon is currently

developing solutions for production and fueling of hydrogen ships and we look

forward to take an active role of the further development of these solutions,"

says Simonsen.

The Board of Directors has decided to distribute a dividend of NOK 0.1 per share

for the quarter.

"Focus on renewable energy and the transition towards a more sustainable future

is gaining momentum, despite the recent market turmoil. Saga Pure is focused on

building a team of strong and broad industrial competence in accordance with the

new investment strategy and has evaluated approximately 100 companies year to

date. With a significant deal-flow, a highly selective investment approach and a

substantial investment capacity, Saga Pure is well positioned to capitalize on

our green and sustainable investment strategy. Following the positive

development in the first half of 2021, the Board of Directors has decided to

distribute a dividend of NOK 0.1 per share," Simonsen concludes.

Saga Pure will host an investor presentation 30 August at 10:00 CET and the

presentation can be followed live at www.sagapure.com, or at

https://channel.royalcast.com/landingpage/hegnarmedia/20210830_2/

The presentation will be held at Haakon VIIs gate 2, Oslo.

As a consequence of the Covid-19 pandemic, there will be a limited number of

guests at the physical presentation of the results. Please send a request to

info@sagapure.com with full name if you want to participate at the Q2

presentation.

A confirmation of participation will be needed to access the

event.

The presentation of the financial results for the second quarter 2021 and the

Board of Directors report are enclosed.

ENDS

For additional information, please contact:

Bjørn Simonsen, CEO, +47 97 17 98 21

Espen Lundaas, CFO, +47 92 43 14 17

About Saga Pure | www.sagapure.com

Saga Pure ASA is an investment company focusing on opportunities within

renewable energy, hydrogen, circular economy and CO2-reduction.

This information is considered to be inside information pursuant to the EU

Market Abuse Regulation and is subject to the disclosure requirements pursuant

to section 5-12 of the Norwegian Securities Trading Act. This stock exchange

announcement was published by Espen Lundaas, CFO, Saga Pure ASA, on 29 August

2021 at 17:00 CET.