Saga Pure: Bjørn Simonsen to step down as CEO

(Oslo, 22 December 2022) Chief Executive Officer (CEO) Bjørn Simonsen of Saga Pure ASA (Saga Pure, OSE: SAGA) will step down effective 15 January 2023. The Board of Directors has initiated the succession process.

“Saga Pure has delivered strong performance under Bjørn´s tenure as CEO, and we respect his decision to step down following the expansion of Saga Pure’s investment mandate. We wish Bjørn all the best with his future endeavors,“ says Martin Nes, Chairman of the Board of Directors.

Bjørn Simonsen has informed the Board of Directors of his resignation effective 15 January 2023, and the succession process has been initiated.

“Saga Pure has a strong platform for future value creation, with NOK 780 million in cash, our holdings in Heimdall, Horisont Energi and Hyon, in addition to the opportunities within our expanded investment mandate,“ Nes continues.

“It has been a privilege to shape and lead Saga Pure over the last two years, where our team has delivered strong financial and operational results. Saga Pure has a solid platform to capitalize on the expanded investment mandate, and with company entering a new phase the timing is right to hand the reins to a new CEO,“ Simonsen concludes.

ENDS

For additional information, please contact:

Martin Nes, Chairman of Board of Directors, +47 920 14 814

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 Espen Lundaas, CFO, Saga Pure ASA, on 22 December 2022 at 1930 CET.