Bergen Carbon Solutions AS (BCS): Contemplated block sale of existing shares

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN OR IN ANY JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

Oslo – 14 June 2021.

Saga Pure ASA (the “Seller”) has retained Fearnley Securities AS and Norne Securities AS (the "Managers") to explore a potential block sale of existing shares (the “Offering”) in Bergen Carbon Solutions AS (the "Company").

The Seller is contemplating selling up to 1,276,600 shares in the Company (equal to approx. 3.94% of the Company’s shares outstanding) through an accelerated bookbuilding process. The Seller reserves the right, at its own discretion, to sell fewer shares or no shares at all.

The Offering will commence today (14 June 2021) at 16:30 CEST and will close no later than 15 June 2021 at 08:00 CEST. Please note that the Offering may be closed on short notice at the full discretion of the Seller and/or the Managers. The Offering is expected to be priced and allocated before the opening of the Oslo Stock Exchange on 15 June 2021 (T). The settlement in the Offering will be conducted on a normal delivery-versus-payment basis (DVP T+2).

The Seller currently holds 6,752,600 shares in the Company (equal to approx. 20.87% of the Company’s shares outstanding). The remainder of the Seller’s shares will be subject to a lock-up until October 2021.

The purpose of the Offering is to re-balance the Seller’s portfolio. The Seller will remain a large and long-term shareholder in the Company post Offering and is highly positive towards the Company’s business and market fundamentals.

The minimum order and allocation in the Offering have been set to the NOK equivalent of EUR 100,000. The Managers may, however, offer and allocate an amount below the NOK equivalent of EUR 100,000 in the Offering to the extent exemptions from prospectus requirements, in accordance with Regulation (EU) 2017/1129, are available.

The Seller is represented in the Company’s Board of Directors, by Mr. Bjørn Simonsen.

For more information about the Offering please contact one of the Managers:

Fearnley Securities AS

+47 22 93 60 00

Norne Securities AS

+47 55 55 91 30