Bakkafrost P/f

Major Shareholding Notification • Dec 17, 2019

BAKKAFROST - Settlement completed for the Mandatory Offer for the depositary receipts and outstanding common shares in The Scottish Salmon Company Plc

BAKKAFROST - Settlement completed for the Mandatory Offer for the depositary receipts and outstanding common shares in The Scottish Salmon Company Plc

Reference is made to the announcement from P/F Bakkafrost ("Bakkafrost")

on 11 December 2019.

Settlement is now completed for the Mandatory Offer for the Depositary Receipts

and Common Shares in The Scottish Salmon Company which were not already owned by

Bakkafrost. The offer period for the Mandatory Offer expired on 9 December 2019

and during the offer period shareholders representing 24,585,445 shares in The

Scottish Salmon Company accepted the offer for their shares. On 11 December 2019

Bakkafrost announced that the settlement for the Mandatory Offer was postponed

until today 17 December 2019 to allow for late acceptances. During this period

acceptance for additional 238,820 shares have been received bringing the total

number of shares to be settled to 24,619,625.

After the settlement of the shares received through the Mandatory Offer

Bakkafrost's total ownership of The Scottish Salmon Company is 95.8%.

This information is subject to the disclosure requirements pursuant to section 5

-12 of the Norwegian Securities Trading Act.

For further information please contact:

Regin Jacobsen, CEO of P/F Bakkafrost: +298 235001 (mobile)

Høgni Dahl Jakobsen, CFO of P/F Bakkafrost: +298 235060 (mobile)