Saga Pure — Earnings Release 2020

Feb 17, 2021

Saga Pure: Fourth quarter 2020 financial results

Saga Pure: Fourth quarter 2020 financial results

(Oslo, 17 February 2021) Saga Pure ASA (Saga Pure, OSE: SAGA) reported a net

profit in the fourth quarter 2020 of NOK 213.3 million, (Q4 2019: NOK 41.6

million) following a positive development for the company´s new investment

strategy within renewable energy, hydrogen, circular economy and CO2 reductions.

"The fourth quarter was an eventful period for Saga Pure following the

transformation to a new investment strategy within renewable energy, hydrogen,

circular economy and CO2 reductions. We did our first investments in Everfuel,

Bergen Carbon Solutions and Horisont Energi in the quarter, in addition to

raising over 400 million in capital to position Saga Pure for further growth and

expansion in 2021," says Bjørn Simonsen, Chief Executive Officer of Saga Pure.

Saga Pure reported a net profit from continued operations in the fourth quarter

2020 of NOK 213.3 million, up from NOK 41.6 million in the corresponding quarter

in 2019, driven by the positive development of Everfuel. Following the capital

raises in the quarter, Saga Pure ended 2020 with a cash balance of NOK 476

million.

"Saga Pure sees significant opportunities within our green investment universe

and the team has extensive technical and financial expertise, an unparalleled

deal-flow and leverages on the backing and capabilities from the Ferncliff

group," Simonsen continues.

After the closing of the quarter, Saga Pure completed a subsequent offering and

realized the Everfuel investment with a net gain of NOK 260 million,

contributing to a cash position of NOK 800 million primo February 2021. The

company has also applied for a transfer of the listing of the Saga Pure shares

from Euronext Expand to Oslo Børs.

"We are currently evaluating a number of investments in companies that can take

a leading position in their field, while maintaining a solid cash position to

ensure financial robustness and flexibility. Additionally, Saga Pure will expand

the organization further with additional industrial expertise to continue the

search for the solutions that contribute to a greener future," Simonsen

concludes.

Saga Pure will host an investor presentation 17 February at 08:00 CET and the

presentation can be followed live at www.saga-pure.com, or at

https://channel.royalcast.com/landingpage/hegnarmedia/20210217_2/

The presentation of the financial results for the fourth quarter and the Board

of Directors report are enclosed.

ENDS

For additional information, please contact:

Bjørn Simonsen, CEO, +47 97 17 98 21  or bjorn.simonsen@saga-pure.com

Espen Lundaas, CFO, +47 92 43 14 17 or espen.lundaas@saga-pure.com

About Saga Pure | www.saga-pure.com

Saga Pure ASA is an investment company focusing on opportunities within

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