SalMar ASA

M&A Activity • Nov 7, 2022

SalMar - Merger between SalMar and NRS expected to be completed after close of trading 7 November 2022

SalMar - Merger between SalMar and NRS expected to be completed after close of trading 7 November 2022

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BE UNLAWFUL.

Frøya, 7 November 2022

Reference is made to the stock exchange announcement made by SalMar ASA

("SalMar") on 31 October 2022 in connection with the recommended voluntary offer

by SalMar to acquire all outstanding shares in NTS ASA ("NTS") (the "Offer") and

the merger between SalMar and Norway Royal Salmon ASA ("NRS") (the "Merger").

The board of directors of SalMar has today resolved to carry out the Merger and

lodged the filing for completion of the Merger with the Norwegian Registry of

Business Enterprises (Nw. Foretaksregisteret). It is expected that the Merger

will be completed after close of trading on Oslo Børs today (the "Merger

Effective Date"). Consequently, it is expected that the last day of trading in

the NRS shares will be today.

The Merger contemplates that SalMar will absorb all assets, rights and

obligations of NRS and that NRS is dissolved. Shareholders of NRS will receive

merger consideration consisting of 0.303933 shares in SalMar and NOK 52.84 in

cash for each share in NRS they own as at the expiry of the Merger Effective

Date, as such shareholders appear in NRS' shareholders register with Euronext

Securities Oslo (the "VPS") as at the expiry of 9 November 2022 (the record date

for the Merger).

Subject to timely registration of the Merger with the Norwegian Register of

Business Enterprises and delivery through the VPS, the merger consideration

shares are expected to be delivered to eligible recipients' securities accounts

with the VPS on 11 November 2022. Any trades by investors prior to delivery of

the merger consideration shares must be carried out in compliance with

applicable short sale and other regulations.

Reference is made to the stock exchange announcement from SalMar on 31 October

2022 for information on settlement of the Offer.

Arctic Securities AS acts as financial advisor and receiving agent and

Advokatfirmaet BAHR AS acts as legal advisor to SalMar.

For further information, please contact:

Håkon Husby, Head of IR SalMar

Tel: +47 936 30 449

Email: hakon.husby@salmar.no

This information is information required to be made public pursuant to the EU

Market Abuse Regulation and section 5-12 of the Norwegian Securities Trading

Act.  The information was submitted by Håkon Husby at 08:30 (Norwegian time) on

7 November 2022.

About SalMar

SalMar is one of the world's largest and most efficient producers of salmon. The

group has farming operations in Central Norway, Northern Norway and Iceland, as

well as substantial harvesting and secondary processing operations in Norway, at

InnovaMar in Frøya, InnovaNor in Senja and Vikenco in Aukra. In addition, the

company is operating within offshore aquaculture through the company SalMar Aker

Ocean. SalMar also owns 50% of the shares in Scottish Sea Farms Ltd.

See www.salmar.no for more information about SalMar.