SalMar ASA

M&A Activity • Aug 25, 2021

SalMar aquires 45% ownership in Refsnes Laks AS

SalMar aquires 45% ownership in Refsnes Laks AS

SalMar has today, 25.08.2021, entered into an agreement to acquire 45% ownership

in Refsnes Laks AS through a combination of share purchase and private

placement. Refsnes Laks AS currently has four licenses for production of

Atlantic salmon and a time limited viewing license in Central Norway, in total

3,932 tonnes MAB. The purchase price for the transaction is NOK 665 million.

Chairman of the board of Refsnes Laks, Ivar Refsnes emphasizes that for many

years a close and value-creating collaboration has been developed between SalMar

and Refsnes. This applies to production, processing and sales in an

international market. SalMar's acquisition of a significant ownership interest

in the company is a natural continuation of this collaboration. It will

strengthen the financial basis for the company with its base in Åfjord

municipality. This is a good solution for both parties, says Refsnes.

The transaction gives SalMar further sustainable growth in the immediate

vicinity of existing fish farming areas in Central Norway and it will be a good

industrial solution that ensures significant synergies and further development

of existing activity and operational competence.

The completion of the transaction is conditional upon that the Norwegian

Competition Authorities does not intervene against the transaction.

For more information, please contact:

Trine Sæther Romuld, CFO & COO

E-mail: trine.romuld@salmar.no (mailto:trine.romuld@salmar.no)

Tel: +47 991 63 632

Håkon Husby, Head of IR

E-mail: hakon.husby@salmar.no

Tel: +47 936 30 449