Saga Pure - Share Issue/Capital Change 2021

Saga Pure ASA: Exercises options in Bergen Carbon Solutions

(Oslo, 28 July 2021) Saga Pure ASA (Saga, OSE: SAGA) exercises options to

subscribes for shares NOK 30 million in a private placement in Bergen Carbon

Solutions AS (BCS), a company which has developed a technology for converting

CO2 to high value carbon nanofibers (CNF). Saga will have an ownership of 28% in

BCS after the private placement has been completed.

Reference is made to the stock exchange releases from 11, 18 December 2020 and

15 June 2021, where it was announced that Saga had entered into an option

agreement to acquire shares for up to NOK 30 million. Saga is hereby exercising

the options in the option agreement, whereby Saga will subscribe 4,978,000

shares at NOK 6,03 per share following all necessary corporate resolutions by

BCS being implemented. Saga will not have any options in BCS after the private

placement has been completed. The shares from the private placement and the

existing shares in BCS owned by Saga is subject to a lock up until October 2021.

"We are very happy with the development we have seen in BCS over the course of

2021, and numerous companies both domestically and internationally are now

exploring the value BCS can bring to their operations, whether they have a CO2

source, or are developing products where CNF can improve the quality and

performance. The potential for this company going forward is significant," says

Bjørn Simonsen, CEO of Saga Pure.

BCS is a company based in Bergen, Norway which has developed an innovative

technology that converts CO2 into high value CNF. The process uses significantly

less electricity than conventional production methods, and has zero associated

emissions. CNF combines high strength and low weight with exceptional heat and

electricity conductivity, and is used in numerous sectors such as aerospace,

automotive, sports, electronics, construction, energy and others. Today's global

annual market for CNF is estimated to be approximately USD 400 million per year,

and has an expected annual growth rate of 27% going forward.

The completion of the private placement is subject to all necessary corporate

resolutions being validly made by BCS.

ENDS

For additional information, please contact:

Bjørn Simonsen, CEO, +47 971 79 821

Espen Lundaas, CFO, +47 924 31 417

About Saga Pure ASA | www.sagapure.com

Saga Pure ASA is an investment company focusing on opportunities within

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

AI assistant