SalMar ASA

Investor Presentation • Mar 3, 2016

Offshore: Possibilities and challenges

NASF 2016

March 3rd, 2016 CEO| Leif Inge Nordhammer

Agenda

North Atlantic Seafood 2016

• About SalMar Q4 2015 / FY 2015
• Offshore: Possibilities and challenges

2015 highlights

• Salmon prices driven by limited supply growth and weak NOK
• Biological situation remains a challenge, focus on corrective actions
• Harvest volume of 136 400 tons (Norway) in 2015
• Annual operational EBIT of NOK 1 404m, 10,29 NOK per kilo
• The Board of Directors propose a dividend of NOK 10.00 per share

SalMar is now a fully integrated salmon farmer…

• Roe

• Rauma strain

• Smolt

• Essential for the performance in the entire value chain

• Farming

• 100 wholly owned licenses in Norway
• 113 including R&D and partnerships

• Third largest salmon producer in Norway

• Harvesting and VAP

• InnovaMar facility

• Vikenco at Aukra (51 %)

• Sales

• SalMar Sales
• SalMar Japan / Korea
• The world`s largest producer of organic salmon
• Export to +40 countries

…with a key role in salmon farming since 1991

1991

1996

2002

2007

Secondary processing from the «get go»

160 meter floating cage collar

120 meter floating cage collar

Listed Oslo Stock Exchange

Certified to farm, process and sell organic salmon

InnovaMar

Ro fjell – Worlds largest wellboat for Salmon

2009

2010

2013

Ocean Farming

Agenda

North Atlantic Seafood 2016

• About SalMar Q4 2015 / FY 2015
• Offshore: Possibilities and challenges

Why Offshore?

Opens new areas for farming

Solution for further sustainable growth

Reduce biological risk

Pinpoint the areas optimized for farming

Enables sustainable growth while combating production costs

The Industry works with new solutions

Passion will drive us further

• All growth must be sustainable: environmentally, socially and financially.

9

• We believe that the salmon thrives is the sea (not on land)

There are still some questions that needs answering

• Expertise – the right people and the right "know how" – build operating team

• Learning curve (fish/technology/offshore farmers)

• Installation and operations

• Will demand large investments

• Legislation. New ballpark, new rules?

Where are we now?

• Granted eight licenses from the The Directorate of Fisheries 28th of February 2016
• We will push the button in the near future
• Continue to work with yard and subcontractors

Ocean Farming Rig

To be placed in Frohavet. 7000 tons ready for harvest in 2018?

11

• Smolt input summer 2017 first fish out 2018
• Total investment MNOK 690
• Building team to operate the rig

Frohavet and InnovaMar

Great conditions for farming. Good logistic conditions in respect of InnovaMar

Video - Offshore farming

Thank you for your attention!