Bakkafrost P/f

Share Issue/Capital Change • Dec 12, 2019

BAKKAFROST - Capital increase completed, update on the number of shares listed

BAKKAFROST - Capital increase completed, update on the number of shares listed

Reference is made to the announcement from P/F Bakkafrost ("Bakkafrost") on 6

December 2019 related to the final result of the subsequent offering of up to

1,000,000 new shares (the "Offer Shares") at a subscription price of NOK 500 per

share  (the "Subsequent Offering")

The share capital increase pertaining to the Subsequent Offering has now been

registered with the Faroese Companies Register. As a result, Bakkafrost's share

capital has, with effect from 11 December 2019, been increased from DKK

58,273,244 to DKK 59,143,000 by way of the issuance of 869,756 new shares of DKK

1 par value. The Offer Shares will be listed on Oslo Børs on 13 December 2019.

The total number of fully paid shares in Bakkafrost is, following this,

59,143,000.

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

-12 of the Norwegian Securities Trading Act, and Oslo Børs' Continuing

Obligations section 11.4.

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)