SalMar ASA

Major Shareholding Notification • Feb 19, 2019

SalMar - Detailed notice regarding purchase of shares in Arnarlax

SalMar - Detailed notice regarding purchase of shares in Arnarlax

Reference is made to the notice published regarding SalMar ASA's ("SalMar")

purchase of shares in Arnarlax AS ("Arnarlax") on 14th of February 2019. Further

details regarding the transaction are set out below, in accordance with Oslo

Børs' requirements for a detailed stock exchange notice.

On 14th of February 2019, SalMar entered into an agreement for purchase of

3,268,670 shares in Arnarlax at a price of NOK 55 per share, in total NOK

179,776,850. 1,026,418 shares were purchased from Tryggingamiðstöðin hf. and

2,242,252 shares were purchased from Fiskisund ehf. The transaction will be

settled in cash and financed through use of an existing financing facility in

SalMar. Completion of the transaction is expected to take place on 21 February

Arnarlax is the largest salmon farmer on Iceland and is located in the West

Fjords, Iceland. The company was incorporated in 2009 on Iceland, with first

harvest in 2016. It is vertically integrated with its own hatcheries, sea sites,

wellboat, processing plant and sales channel.

SalMar already owns 41.95% of the shares in Arnarlax and will thereby increase

its ownership to 54.23%. After the transaction SalMar will gain control of

Arnarlax through its ownership and the results from Arnarlax will be

consolidated into SalMar's group accounts. Strategically the transaction

represents a natural step for SalMar, as SalMar wishes to further develop

Arnarlax and salmon farming on Iceland.

The board of directors of Arnarlax is composed of the following persons:

Chairman: Kjartan Ólafsson

Board members:

· Matthias Gardarsson (founder of Arnarlax)

· Leif Inge Nordhammer (former CEO of SalMar)

· Einar Ólafsson

· Espen Marcussen

· Bjørn Egil Larsen

· Trond Tuvstein

Arnarlax has 106 employees and the executive management is composed of the

following persons:

CEO - Bjørn Hembre

CFO - Halldór Gunnlaugsson

COO Freshwater - Skjalg Pedersen

COO Seawater - Rolf Ørjan Nordli

Business Development - Víkingur Gunnarsson

Director Sales - Ómar Grétarsson

Director processing - Tryggvi Bjarnason

Attached one will find key figures from the profit and loss statement and the

balance sheet of Arnarlax for the years 2018, 2017 and 2016. Arnarlax' licenses

(22,000 tonnes) are not capitalized in the balance sheet, except MEUR 17.3 in

goodwill attributed to the the acquisition of Fjarðalax in 2016 and their

licenses. There are applications for additional 34,500 tonnes in licences.

For more information, please contact:

CFO Trond Tuvstein

Tel: +47 918 53 139

E-mail: trond.tuvstein@salmar.no

This information is subject of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act and section 3.4 of Oslo Børs'

continuing obligations for stock exchange listed companies.