Saga Pure — Remuneration Information 2022

May 26, 2022

RECOMMENDATIONS BY THE NOMINATION COMMITTEE OF SAGA PURE ASA

TO

THE ANNUAL GENERAL MEETING TO BE HELD ON 30 MAY 2022

The Nomination Committee of Saga Pure ASA (the "Company") currently consists of the following members:

• Lars Christian Stugaard (Chair)
• Kristin Hellebust

All of the members of the Nomination Committee were elected at the Company's annual general meeting held on 30 May 2021.

Pursuant to the Company's articles of association, the general meeting of the Company has established a Nomination Committee, consisting of two to three members. The general meeting of the Company has also approved Instructions for the Nomination Committee, and such instructions are available at the websites of the Company, www.sagapure.com.

The responsibilities of the Nomination Committee are to recommend candidates to the Board of Directors, including the Chairman of the Board of Directors, and to recommend candidates for the Nomination Committee, as well as recommend remuneration for members of the Board and the Nomination Committee.

These recommendations include recommendations with regards to proposals for re-election of the Board of Directors, and recommendations for remuneration for the members of the Board of Directors and the Nomination Committee. The members of the Nomination Committee are not standing for election at this year's annual general meeting.

The Nomination Committee has the following proposals to the annual general meeting in 2022:

1 ELECTION OF MEMBERS TO THE BOARD OF DIRECTORS

The Election Committee proposes that the following Board members are elected for the period from the AGM 2022 to the AGM 2023:

• Martin Nes (chairman), with an election period up to the annual general meeting in 2023;
• Øystein Stray Spetalen, with an election period up to the annual general meeting in 2023;
• Yvonne Litsheim Sandvold, with an election period up to the annual general meeting in 2023; and
• Gøril Louise Andreassen (new), with an election period up to the annual general meeting in 2023.

Gøril L. Andreassen is a PhD candidate in Economics doing research on the transition to green energy technology at the School of Economics and Business, NMBU. Andreassen is also a guest researcher at the Transport Economic Institute. Previously Andreassen was head of the transport department and later the industry and petroleum department in the climate foundation ZERO. Andreassen has also worked in other environmental organizations such as the Rainforest Foundation Norway and holds a master's degree in Economics from the University of Oslo.

2 REMUNERATION

For the period commencing on the annual general meeting in 2022 and until the annual general meeting in 2023, the Nomination Committee proposes that the remuneration to the members of the Board of Directors shall be in accordance with the following:

• Chairman: NOK 250,000
• Directors: NOK 200,000

This proposal is in line with the current remuneration of the Board of Directors and that the remuneration is comparable to other listed companies in Norway, and represents a competitive level of remuneration, corresponding to responsibilities, competence requirements and workload.

For the same period described above, the Nomination Committee proposes that the members of the Nomination Committee are remunerated as follows:

• Chairman: NOK 20,000
• Member: NOK 15,000

* * *

The Nomination Committee of Saga Pure ASA

Lars Christian Stugaard Kristin Hellebust