Saga Pure — Report Publication Announcement 2021

May 9, 2021

Saga Pure: First quarter 2021 financial results

Saga Pure: First quarter 2021 financial results

(Oslo, 9 May 2021) Saga Pure ASA (Saga Pure, OSE: SAGA) reported a net profit in

the first quarter 2021 of NOK 147.8 million, representing a quarterly return on

equity of 16 percent, (Q1 2020: NOK -101.0 million) following a positive

development for the company´s investment portfolio within renewable energy,

hydrogen, circular economy and CO\2\ reductions.

"The first quarter was an eventful period for Saga Pure with high business

development activity for our investment team focusing on renewable energy,

hydrogen, circular economy and CO\2\ reductions. We reported a quarterly return

on equity of 16 percent, announced investments in Heimdall Power, Pryme and IC

Technologies, held NOK 833 million in cash, which provides a solid platform 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 first quarter

2021 of NOK 147.8 million, up from NOK -101.0 million in the corresponding

quarter in 2020, driven by the positive development in the investment portfolio,

representing a return on equity of 16 percent. The company had NOK 833 million

in cash at the end of the quarter.

During the first quarter, Saga Pure invested in:

· Pryme - The company uses a modified pyrolysis process which converts waste

plastics into pyrolysis oil which will be further refined downstream for

production of new plastic.

· Heimdall Power - The company offers a rapid transition to fully digitalized

electric grid assets with its patented low-cost sensors and software portfolio.

· IC Technologies - The company develops storage and distribution solutions

for cryogenic gases with focus on liquid hydrogen.

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

is gaining momentum, supported by ever-stronger policy measures from governments

around the world. Alongside evaluating a number of investment opportunities Saga

Pure is focused on building a team of strong and broad industrial competence in

accordance with the new investment strategy. With no interest-bearing debt, and

substantial cash following the disposal of the former investments and recent

private placements, Saga Pure is well positioned for pursuing new possibilities

for our green and sustainable investment strategy," Simonsen concludes.

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

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

https://channel.royalcast.com/landingpage/hegnarmedia/20210510_3/

The presentation of the financial results for the first 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 ASA | www.saga-pure.com

Saga Pure ASA is an investment company focusing on opportunities within

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