SalMar ASA

Share Issue/Capital Change • Oct 15, 2020

SalMar - Icelandic Salmon AS: Vellykket gjennomføring av privat plassering

SalMar - Icelandic Salmon AS: Vellykket gjennomføring av privat plassering

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

INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN OR THE UNITED STATED 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, 15. oktober 2020.  Det vises til meldinger fra SalMar ASA ("SalMar")

vedrørende en privat plassering (den "Private Plasseringen") og notering av

aksjene i Icelandic Salmon AS ("Icelandic Salmon" eller "Selskapet", og

tidligere Arnarlax AS)  på Merkur Market.

Den Private Plasseringen har blitt vellykket gjennomført med en

transaksjonsstørrelse på ca. NOK 647 millioner fordelt på 5.629.344 aksjer med

en pris på NOK 115 per aksje. Den Private Plasseringen gir et bruttoproveny til

Selskapet på ca. NOK 500 millioner gjennom salg av 4.347.826 nye aksjer

("Primærtilbudet") og ca. NOK 147 millioner til Pactum AS og Gyda EHF, eid av

Kjartan Olafsson (styreleder), gjennom salg av totalt 1.281.518 eksisterende

aksjer (1.000.000, aksjer solgt av Pactum AS og 281.518 aksjer solgt av Gyda

EHF) ("Sekundærtilbudet").

Den Private Plasseringen mottok sterk interesse fra institusjonelle investorer

av høy kvalitet og var betydelig overtegnet. Tre hjørnesteinsinvestorer fikk

tildelt aksjer for ca. NOK 296 millioner: (i) Gildi-lífeyrissjóður (Gildi

Pension Fund), ca. NOK 196 millioner; (ii) Stefnir Asset Management Company, ca.

NOK 78 millioner; og (iii) Edvin Austbø gjennom Alden AS, ca. NOK 22 millioner.

Icelandic Salmon har til hensikt å benytte nettoprovenyet fra Primærtilbudet til

å finansiere vekst og utvikling av Icelandic Salmons verdikjede innen

eksisterende beholdning av lisenser, herunder investering i å utvide

smoltkapasitet, oppgradere prosesseringsfasilitet (Bíldudalur), oppdrettsutstyr,

varemerke-initiativer og oppbygning av biomasse.

Den Private Plasseringen og utstedelse av nye aksjer ble besluttet av styret den

14. oktober 2020 basert på fullmakt gitt til styret i forbindelse med

ekstraordinær generalforsamling avholdt i Selskapet den 8. oktober 2020. Etter

den Private Plasseringen vil Selskapet ha 30.961.868 utestående aksjer. Pactum

AS vil eie 825.862 aksjer etter den Private Plasseringen, som representerer

2,7% av utestående aksjer i Selskapet etter emisjonen, og Gyda EHF vil eie

1.000.000 aksjer etter den Private Plasseringen, som representerer 3,2% av

utestående aksjer i Selskapet etter emisjonen.

De følgende ordinære avtaler om lock-up har blitt inngått med DNB Markets,

underlagt visse unntak, med en følgende lock-up periode: (i) Selskapet (12

måneder); (ii) SalMar, Pactum AS og Gyda EHF (Kjartan Olafsson) (alle 6

måneder); og (iii) Selskapets CEO (12 måneder).

Allokeringen til investorer vil bli kommunisert på eller rundt 15. oktober

2020. Oppgjør i den Private Plasseringen vil bli foretatt av Tilretteleggerne

(som definert nedenfor) på basis av levering-mot-betaling på eller rundt 19.

oktober 2020. Levering-mot-betaling i den Private Plasseringen vil bli

gjennomført på basis av en aksjelånsavtale mellom Selskapet, DNB Markets, en del

av DNB Bank ASA, og SalMar.

Icelandic Salmon har søkt om, og vil med forbehold om nødvendige godkjennelser

fra Oslo Børs, notere aksjene i Selskapet på Merkur Market. Første handelsdag på

Merkur Market er forventet å være på eller rundt 27. oktober 2020.

Rådgivere:

DNB Markets, en del av DNB Bank ASA opptrer som Sole Global Coordinator og

Tilrettelegger og Arctic Securities AS and Arion Banki hf. opptrer som

Tilretteleggere i forbindelse med den Private Plasseringen (samlet,

"Tilretteleggerne"). Advokatfirmaet Thommessen AS er engasjer som juridisk

rådgiver til  Icelandic Salmon og Wikborg Rein Advokatfirma AS er engasjert som

juridisk rådgiver til Tilretteleggerne.

For mer informasjon, vennligst kontakt:

Trine Sæther Romuld

CFO & COO

Tel: +47 991 63 632

Email: trine.romuld@salmar.no (mailto:trine.romuld@salmar.no)

Denne informasjonen er underlagt kravene til offentliggjøring i henhold til

verdipapirhandelloven § 5-12.

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 or SalMar.

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.

The securities referred to in this announcement have not been and will not be

registered under the U.S. Securities Act of 1933, as amended (the "Securities

Act"), and accordingly may not be offered or sold in the United States absent

registration or an applicable exemption from the registration requirements of

the Securities Act and in accordance with applicable U.S. state securities laws.

Neither the Company nor SalMar intends to register any part of the offering in

the United States or to conduct a public offering of securities in the United

States. Any sale in the United States of the securities mentioned in this

announcement will be made solely to "qualified institutional buyers" as defined

in Rule 144A under the Securities Act.

In any EEA Member State, this communication is only addressed to and is only

directed at qualified investors in that Member State within the meaning of the

Prospectus Regulation, i.e., only to investors who can receive the offer without

an approved prospectus in such EEA Member State. The expression "Prospectus

Regulation" means Regulation (EU) 2017/1129 as amended (together with any

applicable implementing measures in any Member State.

This communication is only being distributed to and is only directed at persons

in the United Kingdom that are (i) investment professionals falling within

Article 19(5) of the Financial Services and Markets Act 2000 (Financial

Promotion) Order 2005, as amended (the "Order") or (ii) high net worth entities,

and other persons to whom this announcement may lawfully be communicated,

falling within Article 49(2)(a) to (d) of the Order (all such persons together

being referred to as "relevant persons"). This communication must not be acted

on or relied on by persons who are not relevant persons. Any investment or

investment activity to which this communication relates is available only for

relevant persons and will be engaged in only with relevant persons. Persons

distributing this communication must satisfy themselves that it is lawful to do

so.

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 the Company believe 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 their control. Actual

events may differ significantly from any anticipated development due to a number

of factors, including without limitation, changes in public sector investment

levels, changes in the general economic, political and market conditions in the

markets in which the Company operates, the Company's ability to attract, retain

and motivate qualified personnel, changes in the Company's ability to engage in

commercially acceptable acquisitions and strategic investments, and changes in

laws and regulation and the potential impact of legal proceedings and actions.

Such risks, uncertainties, contingencies and other important factors could cause

actual events to differ materially from the expectations expressed or implied in

this release by such forward-looking statements. The Company does not make any

guarantee that the assumptions underlying the forward-looking statements in this

announcement are free from errors nor does it accept any responsibility for the

future accuracy of the opinions expressed in this announcement or any obligation

to update or revise the statements in this announcement to reflect subsequent

events. You should not place undue reliance on the forward-looking statements in

this announcement.

The information, opinions and forward-looking statements contained in this

announcement speak only as at its date, and are subject to change without

notice. The Company does not undertake any 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.

Neither the Managers nor any of their affiliates makes any representation as to

the accuracy or completeness of this announcement and none of them accepts any

responsibility for the contents of this announcement or any matters referred to

herein.

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 the Company or SalMar. Neither

the Managers nor any of its affiliates accepts any liability arising from the

use of this announcement.

The distribution of this announcement and other information may be restricted by

law in certain jurisdictions. Persons into whose possession this announcement or

such other information should come are required to inform themselves about and

to observe any such restrictions.