Saga Pure - Share Issue/Capital Change 2020

Saga Pure ASA: Invests NOK 35 million in blue ammonia company Horisont Energi

(Oslo, 28 December 2020) Saga Pure ASA (Saga, OSE: SAGA) has committed to

subscribe for NOK 35 million in a private placement of new shares (the "Private

Placement") in Horisont Energi AS (Horisont Energi). Following the Private

Placement Saga will own 11.7% of the company.

"Ammonia production is currently the biggest consumer of hydrogen globally, and

has massive associated CO(2)-emissions today. Even in a decarbonized world we

will continue to need ammonia, both for fertilizer applications, but ammonia

also has a significant potential as a zero-emission energy carrier - as long as

it is produced from renewables or from natural gas with cost effective carbon

capture and storage. Horisont Energi has developed an attractive value chain

solution for production of blue ammonia as well as CO(2) handling, and we see

great potential for this company going forward," says Bjørn Simonsen, CEO of

Saga Pure.

Horisont Energi is a company based in Stavanger, Norway with an experienced team

with background from the oil and gas sector and the energy supplier industry.

The company will combine cutting-edge ammonia production technologies which

enable effective CO(2)-capture along with a transport and storage solution which

enables a significantly lower cost of carbon capture and storage (CCS) than that

of today's available solutions. The first blue ammonia plant is planned to be

established in Finnmark in the north of Norway in a partnership together with

Equinor, and the company is already in dialogue with several other large

international companies for further blue ammonia and CCS projects.

Horisont Energi will use the net proceeds from the Private Placement to build

the organization and make preparatory work to reach a final investment decision

for the first project in Northern Norway.

ENDS

For further information, please contact:

Bjørn Simonsen, CEO, +47 97 17 98 21

Espen Lundaas, CFO, +47 92 43 14 17

About Saga Pure ASA

Saga Pure is an investment company focusing on opportunities within renewable

energy, hydrogen, circular economy and CO(2)-reductions.

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