Bakkafrost P/f

MANDATORY BID FOR THE DEPOSITARY RECEIPTS AND OUTSTANDING COMMON SHARES IN THE SCOTTISH SALMON COMPANY PLC (the "Company")

P/F Bakkafrost ("Bakkafrost") hereby announces a mandatory offer for all of the

depositary receipts (representing common shares) and the common shares not

covered by depositary receipts in the Company which are not already owned by

Bakkafrost.

The depositary receipts and common shares covered by the offer represent 19.23%

of all of the common shares issued by the Company. Bakkafrost is already the

beneficial owner of 80.77% of all the common shares issued by the Company.

The offer price is NOK 28.25, which is the highest price paid by Bakkafrost for

the Company's depositary receipts and common shares during the last 6 months.

The offer period commences on 11 November 2019 and ends at 18:00 CET on 9

December 2019, subject to possible extensions of up to 2 weeks.

Settlement of the offer will be made within 2 weeks from the end of the offer

period.

The complete terms of the offer are set out in an offer document which, today,

has been approved by the Oslo Stock Exchange.

The offer document will, on Monday 11 November 2019, be sent to all owners of

depositary receipts recorded in the VPS and all owners of common shares

registered in the Company's register of members as of the date hereof, if there

are available addresses reflected in such records.

The offer document can also be obtained from Bakkafrost's financial advisers at

the following addresses:

DNB Bank ASA, Dronning Eufemias gate 30, Oslo, Norway

Nordea Bank Abp, filial i Norge, Essendrops gate 7, Oslo, Norway

or by contacting the financial advisers directly at:

Further, the offer document will be available electronically at:

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