Andfjord Salmon

Share Issue/Capital Change • May 22, 2024

Key information regarding potential subsequent offering by Andfjord Salmon Group AS

Key information regarding potential subsequent offering by Andfjord Salmon Group AS

22.5.2024 23:41:19 CEST | Andfjord Salmon | Additional regulated information

required to be disclosed under the laws of a member state

Reference is made to the stock exchange announcement by Andfjord Salmon Group AS

("Company") on 22 May 2024 regarding the successful private placement of

10,606,060 new shares in the Company (the "Private Placement"), and that the

Company intends to carry out a subsequent offering with non-tradable

subscription rights of up to 796,530 new shares in the Company which, subject to

applicable securities law, will be directed towards shareholders in the Company

as of 22 May 2024, as registered with the VPS two trading days thereafter, who

were not allocated shares in the Private Placement, and who are not resident in

a jurisdiction where such offering would be unlawful or (for jurisdictions other

than Norway) would require any prospectus, filing, registration or similar

action.

Key information:

Date on which the terms and conditions of the subsequent offering were

announced: 22 May 2024

Last day including right: 22 May 2024

Ex-date: 23 May 2024

Record date: 24 May 2024

Date of approval: 22 May 2024

Maximum number of new shares: 796,530

Subscription price: NOK 33.00

Other information: The subsequent offering is subject to (i) completion of the

Private Placement; (ii) the Company's board of directors resolving to consummate

the subsequent offering; and (iii) the publication of a prospectus in accordance

with applicable legislation.

Whether or not such subsequent offering will ultimately take place, will depend

on inter alia the development of the price of the shares in the Company after

completion of the Private Placement.

This information is published in accordance with the requirements of the

Continuing Obligations.

CONTACTS

* Bjarne Martinsen, CFO, Andfjord Salmon AS, +47 975 08 345,

bjarne.martinsen@andfjord.no

* Media: Martin Rasmussen, CEO, Andfjord Salmon AS, +47 975 08 665,

martin@andfjord.no

ABOUT ANDFJORD SALMON

Located at Andøya on the Arctic Archipelago of Vesterålen, Norway, Andfjord

Salmon is developing the world's most sustainable and fish-friendly aquaculture

facility of its kind. Through a proprietary flow-through system, Andfjord Salmon

combines the best from ocean and land-based salmon farming. In its first

production cycle, the company achieved an industry-leading survival rate of 97.5

percent, feed conversion ratio of 1.05, superior share of 91.1 percent, and

required 1 kWh to produce one kilo of salmon. Andfjord Salmon has identified a

roadmap towards a production capacity of 40,000 tonnes HOG at Kvalnes, Andøya,

and set a long-term ambition to reach 90,000 tonnes HOG across Kvalnes, Breivika

and Fiskenes at Andøya. For more information, see www.andfjordsalmon.com -

http://www.andfjordsalmon.com/.