Saga Pure ASA: Launch of conditional offer to buy back own shares

08 Jun 2026 07:30 CEST

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, INTO OR WITHIN ANY JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR
DISTRIBUTION WOULD BE UNLAWFUL OR WOULD REQUIRE REGISTRATION OR OTHER MEASURES.

(Oslo, Norway, 8 June 2026)

Saga Pure ASA (SAGA) (the "Company") hereby launches a conditional offer to buy
back up to 67,487,842 existing shares in the Company (the "Offer") at a price
between NOK 1.45 to NOK 1.60 (the "Price Range"), to reduce the Company's
capital and consequently optimize the Company's capital structure. The Offer
will be structured as a reverse bookbuilding process in which all shareholders,
subject to the restrictions set out herein, can submit sales offers within the
Price Range.

The final purchase price per share will be set within the Price Range based on
the sales offers received at a level representing a satisfactory price and offer
volume (to be determined by the Company at its sole discretion). The final
purchase price will be identical for all selling shareholders.

The bookbuilding period commences today, Monday 8 June 2026, at 09:00 (CEST) and
is expected to close on Friday, 12 June 2026 at 15:00 (CEST) (the "Bookbuilding
Period"). Notification of allocation and pricing is expected to be made on or
about 15 June 2026, and settlement is expected to take place on or about 17 June
2026 on a normal delivery versus payment basis (DVP).

The Company reserves the right to accept sales offers received after the end of
the Bookbuilding Period, as well as to close or extend the Bookbuilding Period
at any time and for any reason in its sole discretion without further notice.

In the event that the total volume offered by selling shareholders in the Offer
exceeds 67,487,842 shares at or below the final purchase price, the allocation
will, to the extent possible, be made on a pro rata basis relative to the volume
offered by each selling shareholder, with the objective of treating all
shareholders equally based on their sales offers at or below the final purchase
price. The selling shareholders will be bound to sell up to the number of shares
offered on the terms submitted if and at such time the offer is accepted by the
Company, irrespective of whether the Company elects to purchase a lower number
of shares from such selling shareholder than offered for sale by the respective
shareholder.

The Company reserves the right, at its sole discretion, to amend, terminate or
withdraw the Offer at any time prior to its completion. Completion of the Offer
is subject to approval by the Company's board of directors.

The Offer will be based on the authorization granted to the board of directors
by the Company's annual general meeting held on 26 May 2026. The Company has not
prepared, and will not prepare, any offer document in connection with the Offer.

Reference is also made to the stock exchange notice 28 May 2026 regarding the
sale of Eilert Sundtsgate 39 AS. The board of directors of the Company is not
aware of any other event having occurred following the period covered by the
Company's first quarter 2026 financial results that are expected to have a
material impact on the Company's profit and loss or financial position.

The Company has a total of 674,878,423 shares issued. Prior to the Offer, the
Company does not hold any own shares.

Arctic Securities AS (the "Manager") acts as sole bookrunner in connection with
the Offer. Existing shareholders in the Company wishing to sell shares in the
Offer can contact the Manager at +47 971 83 609 in order to place a sales offer
before the end of the Bookbuilding Period.

For further information, please contact:

Henrik A. Christensen, Chairperson

+47 909 67 683

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation. This stock exchange notice was published by Eldar
Paulsrud, on the date and time as set out in the release. This information is
subject to the disclosure requirements under the EU Market Abuse Regulation art.
17 and Section 5-12 of the Norwegian Securities Trading Act.

Important note

The Offer contemplated herein and the distribution of this announcement and
other information in connection with the Offer may be restricted by law in
certain jurisdictions, and the Offer is not made in any jurisdiction in which
this would be unlawful, require registration or other measures. The Company does
not assume any responsibility in the event there is a violation by any person of
such restrictions. Persons into whose possession this announcement or such other
information should come are required to inform themselves about and to observe
any such restrictions. This announcement is not an offer document and, as such,
does not constitute an offer or the solicitation of an offer to subscribe to,
acquire, or sell, shares in the Company.

This announcement contains forward-looking statements. All statements, other
than statements of historical fact, included herein, including without
limitation, statements regarding the Offer, are forward-looking statements that
involve risk and uncertainties. There can be no assurances that such statements
will prove to be accurate, and actual results could differ materially from those
anticipated in such statements.

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