Saga Pure: First quarter 2025 financial results

14 May 2025 07:30 CEST

(Oslo, 14 May 2025) Saga Pure ASA (Saga Pure, OSE: SAGA) reported a net profit
in the first quarter 2025 of NOK 10,5 million including minority interest,
giving a return on equity of 1.1 percent.  Saga Pure continues to invest in line
with the broadened mandate, but with a focus on capital discipline, cautious
investment approach and selective investments.

For the first quarter of 2025, Saga Pure reported a net profit of NOK 10
million, whereas 8.7 million are attributable to the shareholders of Saga Pure.
Saga Pure ended the first quarter of 2025 with a return on equity of 1.1
percent.

During the first quarter, the acquisition of 60 % of the shares in the Vallhall
Group (Vallhall) was completed, and Vallhall has been consolidated into the Saga
Pure Group with effect from 1 January. Further Saga Pure invested 137.3 million
in S.D. Standard ETC Plc (S.D.), triggering a mandatory offer for all remaining
outstanding shares in S.D.

Following the acquisition of 60% of the shares in Vallhall, the interest-bearing
debt in Vallhall is now a part of the Saga Pure Groups balance. As of end of
first quarter, the interest-bearing debt in Vallhall is 22.5 million. Vallhall
contributed with an EBITDA for Saga Pure of 5.8 million, including the share to
the 40% minority interests.

At the end of the quarter, Saga Pure had a cash reserve of 509.5 million.
However, the mandatory offer for all outstanding shares in S.D, which was
pending at the end of first quarter, will require 438.8 million for final
settlement of the offer in the second quarter. Following the settlement, S.D.
will be a part of the Saga Pure Group with a 58.4 % ownership.

By the end of the first quarter, Saga Pure's short-term investments were valued
at NOK 169.5 million, down from NOK 181.0 million at the end of the fourth
quarter of 2024. In addition to the short-term investments, Saga Pure made the
above-mentioned long-term investments in S.D. in the first quarter

The Board of Directors' report is enclosed.

ENDS

For additional information, please contact:

Espen Lundaas, CEO, +47 924 31 417

Tore Jakob Berg, CFO, +47 934 80 202

About Saga Pure | www.sagapure.com

Saga Pure ASA is an investment company with a broad investment mandate.

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to section 5-12 of the Norwegian Securities Trading Act. This stock exchange
announcement was published by Tore Jakob Berg, CFO, Saga Pure ASA, on 14 May
2025 at 07:30 CET.

More information:
Access the news on Oslo Bors NewsWeb site

646254_SAGA_OSE_Notification_Q1_2025.pdf
646254_Saga_Q1_25_report.pdf