AKVA Group — M&A Activity 2014

Jan 22, 2014

AKVA group ASA : Acquisition of YesMaritime AS

AKVA group ASA : Acquisition of YesMaritime AS

AKVA group ASA has today entered into an agreement with Egersund Group AS, to

acquire 100 percent of the shares in the aquaculture farming services company

YesMaritime AS for a price of NOK 17.5 million.

YesMaritime AS was established in 1985 and has developed to become one of the

larger aquaculture farming service companies in Norway. The company is operating

out of Bergen and has 29 employees. Currently the company is operating 6 vessels

providing a range of services to the fish farming industry in Western Norway. In

2012 the Company had a turnover of NOK 48,362,760 million, net profits after tax

of NOK 4,022,025 and total assets of NOK 24,772,069. The preliminary 2013

financials indicates a weaker performance in 2013. The board of YesMaritime AS

consists of Hans Kristian Mong, Mikal O Viga and Jan Thore Hetland, and the

managing director is Dag Jostein Frøyen.

NOK 8.5 million of the purchase price will be paid in cash on completion. The

remaining NOK 9 million will be settled in the form of a two-year seller credit

from Egersund Group AS on market terms and conditions. The completion of the

transaction is subject to ordinary closing conditions including third party

consents, and is expected to take place at the end of the first quarter of 2014.

Prior to the transaction Egersund Group AS has entered into an agreement to

acquire 47.62% of the shares in YesMaritime AS from Rogaland Sjøtjenester AS,

becoming the sole owner of YesMaritime AS. Egersund Group AS will partly settle

the transaction with AKVA group ASA shares valued at NOK 14.00 per share, in

effect reducing Egersund Group AS' shareholding in AKVA group ASA with 343 550

shares.

There has not been entered into any agreements to the benefit of any member of

the board or management in AKVA group ASA or YesMaritime AS in connection with

the transaction.

The transaction between AKVA group ASA and Egersund Group AS is considered to be

between related parties and will therefore require the consent of an

Extraordinary General Meeting in AKVA group ASA pursuant to the Norwegian Public

Limited Companies Act section 3-8. Notice for this Extraordinary General Meeting

is issued today.

"The acquisition of YesMaritime AS is a natural step in AKVA group ASAs strategy

to strengthen the position in the service segment to the aquaculture industry.

We expect the market for farming services to the aquaculture industry to grow in

the coming years as well as we will see a consolidation of the players. Through

this acquisition AKVA group ASA will be well positioned to participate in this

development. YesMaritime AS also holds significant synergies with our existing

activity" states Trond Williksen, CEO of AKVA group ASA.

The annual accounts for YesMaritime AS for 2012 are attached to this notice.

Dated: 22(th) January 2014

AKVA group ASA

Web: www.akvagroup.com

CONTACTS:

Trond Williksen Chief Executive Officer

Phone: +47 51 77 85 00

Mobile: +47 91 63 01 73

E-mail: twilliksen@akvagroup.com

Eirik Børve Monsen Chief Financial Officer

Phone: +47 51 77 85 00

Mobile: +47 91 63 98 31

E-mail: emonsen@akvagroup.com

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AKVA group is a leading technology and service partner to the

aquaculture industry worldwide and the only with global distribution. The

products consist of software systems, operational equipment and sensor systems,

feed systems, cage systems, net cleaning systems, light systems and

recirculation aquaculture systems.

This information is subject of the disclosure requirements according to vphl

(Norwegian Securities Trading Act) § 5-12.

[HUG#1756180]