Saga Pure — Share Issue/Capital Change 2021

Mar 22, 2021

Saga Pure ASA: Private placement in Bergen Carbon Solutions and listing on Euronext Growth

Saga Pure ASA: Private placement in Bergen Carbon Solutions and listing on Euronext Growth

(Oslo, 22 March 2021) Saga Pure ASA (Saga, OSE: SAGA) has entered into

agreements to subscribe for NOK 15 million in a private placement in Bergen

Carbon Solutions AS (Bergen Carbon Solutions). The company contemplates raising

NOK 80 million in new equity and intends to apply for trading on Euronext Growth

Oslo.

"Bergen Carbon Solutions uses innovative, patented and award-winning

technologies to produce carbon nanofibers from captured CO\2\. The production is

emission free and we look forward to continue to support the team in the

commercialization of this truly unique technology as a listed entity," says

Bjørn Simonsen, CEO of Saga and member of the Board of Directors of Bergen

Carbon Solutions.

Reference is made to the stock exchange release 11 December 2020 regarding Saga

Pure's subscription of NOK 30 million in a NOK 40 million private placement of

new shares in Bergen Carbon Solutions. The Board of Directors of Bergen Carbon

Solutions has entered into a mandate agreement with Fearnley Securities AS and

Norne Securities AS in connection with a NOK 80 million share offering in the

company and a contemplated subsequent stock exchange introduction on Euronext

Growth Oslo.

Saga Pure has entered into agreements to subscribe for and be allocated shares

for NOK 15 million in the share offering.

Bergen Carbon Solutions uses innovative, patented and award-winning technologies

to produce carbon nanofibers (CNF) from captured CO\2\. CNF is lighter than

plastic, stronger than steel, leads electricity better than copper and has a

broad range of application areas. The product is also emission free.

The key company highlights include:

Utilizing captured CO\2\ to produce carbon nanofiber

· The core of BCS's business is turning CO\2\ into valuable materials

· The CO\2\ is used to produce CNF, a material lighter than plastic, stronger

than steel and leading electricity better than copper

· The CNF produced is emission free, in contrast to traditional methods where

1 kg of CNF results in 600 kg+ CO\2\

Award-winning technology to produce CNF at lowest cost

· BCS has developed a production method with significantly lower energy

consumption; 50 kWh vs. 1400 kWh per kg for traditional methods

· Operational track record since summer 2020 at BCS' test factory, with high

quality CNF produced

· Production method verified by DNV-GL

· Strategic parts of the production process are patented

Underdeveloped market with immense growth potential

· The global CNF market is expected to grow by 20-40% yearly towards 2024

· CNF is today used for a variety of applications such as additive to

composite materials, batteries, supercapacitors and solar desalinations

· New application areas are continuously being developed.

Bergen Carbon Solutions will use the net proceeds from the private placement to

build a commercial scale production unit, strengthen the company's working

capital and for general corporate purposes.

ENDS

For further information, please contact:

Bjørn Simonsen, CEO, +47 971 79 821

Espen Lundaas, CFO, +47 924 31 417

About Saga Pure ASA | www.saga-pure.com

Saga Pure is an investment company focusing on opportunities within renewable

energy, hydrogen, circular economy and CO\2\-reductions.

About Bergen Carbon Solutions AS | www.bergencarbonsolutions.com

Bergen Carbon Solutions is a company based in Bergen, Norway which has developed

an innovative technology that converts CO\2\ into high value carbon nonofibers.

The process uses significantly less electricity than conventional production

methods, and is currently the only technology that can produce carbon nonofibers

with zero emissions. Carbon nonofibers 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