Andfjord Salmon

Share Issue/Capital Change • Mar 31, 2025

Andfjord Salmon: Preliminary results of the Subsequent Offering

Andfjord Salmon: Preliminary results of the Subsequent Offering

31.3.2025 20:14:35 CEST | Andfjord Salmon | Additional regulated information

required to be disclosed under the laws of a member state

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN

AUSTRALIA, CANADA, THE HONG KONG SPECIAL ADMINISTRATIVE REGION OF THE PEOPLE'S

REPUBLIC OF CHINA, SOUTH AFRICA, NEW ZEALAND, JAPAN, OR THE UNITED STATES, OR

ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD

BE UNLAWFUL.

Reference is made to the stock exchange announcement made by Andfjord Salmon

Group AS (the "Company") on 21 March 2025, regarding commencement of the

subscription period for a subsequent offering (the "Subsequent Offering") of new

shares (the "Offer Shares") in the Company at a subscription price of NOK 35.00

per share.

The subscription period for the Subsequent Offering expired today, 31 March

2025, at 16:30 hours (CEST). Preliminary results indicate that the Company has

received subscriptions for a total of 14,182 Offer Shares in the Subsequent

Offering.

The final results of the Subsequent Offering are expected to be announced by the

Company on or about 1 April 2025, shortly after the board of directors of the

Company has resolved to allocate and issue the Offer Shares in accordance with

the allocation criteria set out in the national prospectus for the Subsequent

Offering dated 18 March 2025.

CONTACTS

* Bjarne Martinsen, CFO, Andfjord Salmon Group AS, +47 975 08 345,

bjarne.martinsen@andfjord.no

ABOUT ANDFJORD SALMON

Located at Andøya on the Arctic Archipelago of Vesterålen, Norway, Andfjord

Salmon is developing the world's most sustainable and fish-friendly aquaculture

facility of its kind. Through a proprietary flow-through system, Andfjord Salmon

combines the best from ocean and land-based salmon farming. In its first

production cycle, the company achieved an industry-leading survival rate of 97.5

percent, feed conversion ratio of 1.05, superior share of 91.1 percent, and

required 1 kWh to produce one kilo of salmon. For more information, see

www.andfjordsalmon.com - http://www.andfjordsalmon.com.

ADVISORS

ABG Sundal Collier ASA, Arctic Securities AS and SpareBank 1 Markets AS acted as

managers for the Subsequent Offering (the "Managers"). Advokatfirmaet Schjødt AS

acted as legal advisor to the Company in connection with the Subsequent

Offering.

DISCLOSURE REGULATION

This information is subject to a duty of disclosure pursuant to the Company's

continuing obligations as a company listed on Euronext Growth Oslo.

IMPORTANT NOTICE

This announcement is not and does not form a part of any offer to sell, or a

solicitation of an offer to purchase, any securities of the Company. The

distribution of this announcement and other information may be restricted by law

in certain jurisdictions. Copies of this announcement are not being made and may

not be distributed or sent into any jurisdiction in which such distribution

would be unlawful or would require registration or other measures. Persons into

whose possession this announcement or such other information should come are

required to inform themselves about and to observe any such restrictions.

The securities referred to in this announcement have not been and will not be

registered under the U.S. Securities Act of 1933, as amended (the "Securities

Act"), and accordingly may not be offered or sold in the United States absent

registration or an applicable exemption from the registration requirements of

the Securities Act and in accordance with applicable U.S. state securities laws.

The Company does not intend to register any part of the offering or their

securities in the United States or to conduct a public offering of securities in

the United States. Any sale in the United States of the securities mentioned in

this announcement will be made solely to "qualified institutional buyers" as

defined in Rule 144A under the Securities Act.

In any EEA Member State, this communication is only addressed to and is only

directed at qualified investors in that Member State within the meaning of the

Prospectus Regulation, i.e., only to investors who can receive the offer without

an approved prospectus in such EEA Member State. The expression "Prospectus

Regulation" means Regulation 2017/1129 as amended together with any applicable

implementing measures in any Member State. This communication is only being

distributed to and is only directed at persons in the United Kingdom that are

(i) investment professionals falling within Article 19(5) of the Financial

Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the

"Order") or (ii) high net worth entities, and other persons to whom this

announcement may lawfully be communicated, falling within Article 49(2)(a) to

(d) of the Order (all such persons together being referred to as "relevant

persons").

This communication must not be acted on or relied on by persons who are not

relevant persons. Any investment or investment activity to which this

communication relates is available only for relevant persons and will be engaged

in only with relevant persons. Persons distributing this communication must

satisfy themselves that it is lawful to do so.

The information contained in this announcement speak only as at its date, and

are subject to change without notice. The Company does not undertake any

obligation to review, update, confirm, or to release publicly any revisions to

the content of this announcement.

Neither of the Company, the Managers nor any of their respective affiliates

makes any representation as to the accuracy or completeness of this announcement

and none of them accepts any responsibility for the contents of this

announcement or any matters referred to herein. This announcement is for

information purposes only and is not to be relied upon in substitution for the

exercise of independent judgment. It is not intended as investment advice and

under no circumstances is it to be used or considered as an offer to sell, or a

solicitation of an offer to buy any securities or a recommendation to buy or

sell any securities in the Company. Neither the Company, the Managers nor any of

their respective affiliates accepts any liability arising from the use of this

announcement.