Saga Pure — Share Issue/Capital Change 2020

Dec 30, 2020

Saga Pure ASA: About subsequent offerings in Saga Pure

Saga Pure ASA: About subsequent offerings in Saga Pure

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR

INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES OR ANY OTHER

JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE

UNLAWFUL.

Oslo, 30 December 2020

Reference is made to the stock exchange announcements from Saga Pure ASA (the

"Company" or "Saga") on each of 14 December 2020, 21 December 2020 and 29

December 2020 where it was announced that the Company will carry out subsequent

share offerings (each a "Subsequent Offering", and together the "Subsequent

Offerings") following the private placements completed on the respective dates

set out above. Further key information about the Subsequent Offerings were

published on 15 December 2020, 22 December 2020 and 30 December 2020.

The Subsequent Offerings will be commenced as soon as possible following

publication of a prospectus to be prepared by the Company, and it is currently

expected that such prospectus will be approved by the Norwegian Financial

Supervisory Authority of Norway and published by the Company during medio

January 2021.

In the Subsequent Offerings, the shareholders of the Company as of 14 December

2020, 21 December 2020 and 29 December 2020 (as further specified in the key

information notices) will be eligible to subscribe for new shares in the

Company, at a subscription price corresponding to the subscription price in each

of the private placements carried out earlier in December 2020. These

shareholders will receive non-transferable subscription rights (the

"Subscription Rights") that may be used to subscribe for shares in the

Subsequent Offerings.

The Subsequent Offering following the private placement on 14 December 2020 will

consist of up to 4 million new shares in the Company at a subscription price of

NOK 2.10 per share.

The Subsequent Offering following the private placement on 21 December 2020 will

consist of up to 4.9 million new shares in the Company at a subscription price

of NOK 2.90 per share.

The Subsequent Offering following the private placement on 29 December 2020 will

consist of up to 4.8 million new shares in the Company at a subscription price

of NOK 4.10 per share.

The Subscription Rights for each Subsequent Offering will be granted on a

separate ISIN for each subsequent offering, and each shareholder holding

Subscription Rights must exercise Subscription Rights for each Subsequent

Offering if it wishes to participate in more than one Subsequent Offering. If

the Subscription Rights are not exercised during the subscription period, the

Subscription Rights will lapse automatically.

The subscription period for the Subsequent Offering will be the same for each of

the three Subsequent Offerings, and will start shortly following publication of

the prospectus. The Subscription Rights will be credited to each eligible

shareholders' VPS account shortly before the start of the subscription period.

The number of Subscription Rights granted to each eligible shareholder will be

announced at a later time.

Further information about the Subsequent Offerings will be provided in due

course.

For additional information, please contact:

Bjørn Simonsen, CEO, +47 97 17 98 21

Espen Lundaas, CFO, +47 92 43 14 17

This information is subject to the disclosure requirements pursuant to Section

5-12 the Norwegian Securities Trading Act