SalMar ASA

Share Issue/Capital Change • Jun 8, 2021

SalMar - Private placement successfully completed

SalMar - Private placement successfully completed

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR

INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN, HONG KONG OR THE UNITED STATES OR ANY

OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE

UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE

SECURITIES DESCRIBED HEREIN.

(Kverva, 8 June 2021) Reference is made to the stock exchange release from

SalMar ASA ("SalMar" or the "Company") published earlier today regarding a

contemplated private placement. The Company hereby announces that it has raised

approximately NOK 2,709 million in gross proceeds through a private placement

(the "Private Placement") of 4,500,000 new shares (the "New Shares"), at a price

per share of NOK 602. The New Shares allocated in connection with the Private

Placement do not carry the right to the NOK 20 dividend as announced by the

Company on 9 April 2021. The Private Placement took place through an accelerated

bookbuilding process managed by Arctic Securities AS and Carnegie AS (together

the "Managers") as joint bookrunners after close of market today.  The Private

Placement received strong interest from high quality institutional investors in

the Nordics and internationally, and was multiple times oversubscribed.

Completion of the Private Placement and the issuance of the New Shares were

resolved by the Board of Directors of the Company (the "Board") at a Board

meeting held today, pursuant to an authorization to increase the share capital

granted to the Board by the Company's annual general meeting on 8 June 2021. The

Company's share capital following the Private Placement will be NOK

29,449,999.75 divided into 117,799,999 shares, each with a par value of NOK

0.25.

SalMar has a strong track record of profitable growth during its 30-year long

history through operational excellence, organic growth and strategic mergers &

acquisitions. In the current market environment, SalMar sees several attractive

growth and investment opportunities across the entire value chain from roe to

plate. These opportunities include purchase of salmon production licenses and

company acquisitions, as well as organic investments in smolt production,

coastal farming operations, harvesting and processing activities. SalMar has

also taken a pole position in developing large-scale offshore farming, initially

in Norway and eventually in other suitable locations. This is being pursued

through the application for the establishment of the Smart Fish Farm pilot

project for production in the open ocean where the company has received eight

development licenses and through building an organisation and a construction

pipeline to allow the rapid development of large-scale offshore and semi-

offshore sustainable salmon farming, based on SalMar's sustainable, best in

class operational performance.  The net proceeds from the Private Placement will

be applied across these opportunities, subject to strict profitability and

operational quality criteria.

Kverva Industrier AS, the Company's largest shareholder and a company closely

related to primary insiders Gustav M. Witzøe and Kverva AS, and Gustav Witzøe,

CEO of the Company, was allocated 498,339 New Shares in the Private Placement

and will, following completion of the Private Placement, hold 59,934,476 shares

in the Company.

LIN AS, a company closely related to Leif Inge Nordhammer, Chairman of the Board

of the Company, was allocated 25,065 New Shares in the Private Placement and

will, following completion of the Private Placement, hold 1,299,685 shares in

the Company.

Delivery versus payment settlement of the New Shares will be facilitated by

existing and unencumbered shares in the Company being borrowed by Arctic

Securities (on behalf of the Managers) from Kverva Industrier AS pursuant to a

share lending agreement between such parties and the Company. The shares

allocated in the Private Placement will thus be tradable from allocation. The

Managers will settle the share loan with new shares in the Company to be issued

pursuant to the resolution of the Board referred to above.

The Company has considered the Private Placement in light of the equal treatment

obligations under the Norwegian Securities Trading Act and Oslo Børs' Circular

no. 2/2014 and is of the opinion that the waiver of the preferential rights

inherent in a private placement is considered necessary in the interest of time

and successful completion. Taking into consideration the time, costs and

expected terms of alternative methods of the securing the desired funding, as

well as the subsequent offering considered, the Board of Directors has concluded

that the conclusion of the Private Placement on acceptable terms at this time is

in the common interest of the shareholders of the Company.

For more information, please contact:

Trine Sæther Romuld, CFO & COO

Tel: + 47 991 63 632

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

Håkon Husby, Head of IR

Tel: +47 936 30 449

Email: hakon.husby@salmar.no (mailto:hakon.husby@salmar.no)

About SalMar

SalMar is one of the world's largest and most efficient producers of farmed

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 and Vikenco in Aukra. SalMar also owns 50 per

cent of the shares in Scottish Sea Farms Ltd.

See www.salmar.no (http://www.salmar.no). for more information about the

company.

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 the Norwegian Securities Trading Act.

Important information:

The release is not for publication or distribution, in whole or in part directly

or indirectly, in or into Australia, Canada, Japan or the United States

(including its territories and possessions, any state of the United States and

the District of Columbia). This release is an announcement issued pursuant to

legal information obligations, and is subject of the disclosure requirements

pursuant to section 5-12 of the Norwegian Securities Trading Act. It is issued

for information purposes only, and does not constitute or form part of any offer

or solicitation to purchase or subscribe for securities, in the United States or

in any other jurisdiction. The securities mentioned herein have not been, and

will not be, registered under the United States Securities Act of 1933, as

amended (the "US Securities Act"). The securities may not be offered or sold in

the United States except pursuant to an exemption from the registration

requirements of the US Securities Act. The Company does not intend to register

any portion of the offering of the securities in the United States or to conduct

a public offering of the securities in the United States. Copies of this

announcement are not being made and may not be distributed or sent into

Australia, Canada, Japan or the United States.

The issue, subscription or purchase of shares in the Company is subject to

specific legal or regulatory restrictions in certain jurisdictions. Neither the

Company nor the Managers assume any responsibility in the event there is a

violation by any person of such restrictions.

The distribution of this release may in certain jurisdictions be restricted by

law. Persons into whose possession this release comes should inform themselves

about and observe any such restrictions. Any failure to comply with these

restrictions may constitute a violation of the securities laws of any such

jurisdiction.

The Managers are acting for the Company and no one else in connection with the

Private Placement and will not be responsible to anyone other than the Company

providing the protections afforded to their respective clients or for providing

advice in relation to the Private Placement and/or any other matter referred to

in this release.

Forward-looking statements: This release and any materials distributed in

connection with this release may contain certain forward-looking statements. By

their nature, forward-looking statements involve risk and uncertainty because

they reflect the Company's current expectations and assumptions as to future

events and circumstances that may not prove accurate. A number of material

factors could cause actual results and developments to differ materially from

those expressed or implied by these forward-looking statements.