Arctic Fish Holding

Share Issue/Capital Change • Mar 23, 2021

Arctic Fish Holding AS - End of stabilisation and partial exercise of over-allotment option

Arctic Fish Holding AS - End of stabilisation and partial exercise of over-allotment option

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.

Oslo, 22 March 2021: Reference is made to the stock exchange notice issued on 19 February 2021 where Arctic Fish Holding AS (the “Company” or “Arctic Fish”) announced the beginning of the stabilization period following a private placement of new and existing shares in the Company (the "Private Placement") and admission to trading of the Company's shares on Euronext Growth Oslo (the "Admission").

DNB Markets, a part of DNB Bank ASA ("DNB Markets”), acting as stabilisation manager has informed the Company that the stabilization period has ended. Stabilisation activities has been undertaken between 19 February 2021 and 19 March 2021 (the “Stabilisation Period”) and comprise a total of 764,641 shares in the Company, purchased at an average price of NOK 58.0501, as further set out in the attached end of stabilization notification.

As a consequence of the stabilization activities taken, DNB Markets has informed the Company that it will exercise in part its over-allotment option and purchase 52,352 shares in Arctic Fish from Bremesco Holding Ltd. (the “Selling Shareholder”) at the offer price in the private Placement of NOK 61.20 per share and shall redeliver the 764,641 shares purchased through stabilization transactions to the Selling Shareholder, in accordance with the terms of the share lending agreement between the parties.

DNB Markets, a part of DNB Bank ASA, and Pareto Securities AS acted as Joint Global Coordinators and Joint Bookrunners and Arion Banki hf acted as Co-Manager in connection with the Private Placement and the Admission. Advokatfirmaet Wiersholm AS is acting as legal advisor to the Company, while Advokatfirmaet BAHR AS is acting as legal advisor to the Managers.

For further information, please contact:

DNB Markets, a part of DNB Bank ASA

Aksel Thue

Tel: +47 23 26 81 01

Important Notice

This announcement is not and does not form a part of any offer to sell, or a solicitation of an offer to purchase, any securities of the Company. Copies of this announcement are not being made and may not be distributed or sent into any jurisdiction in which such distribution would be unlawful or would require registration or other measures.

Matters discussed in this announcement may constitute forward-looking statements. Forward-looking statements are statements that are not historical facts and may be identified by words such as "believe", "expect", "anticipate", "strategy", "intends", "estimate", "will", "may", "continue", "should" and similar expressions. The forward-looking statements in this release are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although Arctic Fish believes that these assumptions were reasonable when made, these assumptions are inherently subject to significant known and unknown risks, uncertainties, contingencies and other important factors which are difficult or impossible to predict and are beyond its control.

The information, opinions and forward-looking statements contained in this announcement speak only as at its date, and are subject to change without notice. Arctic Fish undertakes no obligation to review, update, confirm, or to release publicly any revisions to any forward-looking statements to reflect events that occur or circumstances that arise in relation to the content of this announcement.

This announcement is for information purposes only and is not to be relied upon in substitution for the exercise of independent judgment. It is not intended as investment advice and under no circumstances is it to be used or considered as an offer to sell, or a solicitation of an offer to buy any securities or a recommendation to buy or sell any securities of Arctic Fish. Neither the Company, the Managers nor any of their respective affiliates accepts any liability arising from the use of this announcement.

This information is subject of the disclosure requirements pursuant to Commission Delegated Regulation (EU) 2016/1052 of 8 March 2016 section 6 (3).