AKVA Group - M&A Activity 2020 | FinancialReports.eu

AKVA group ASA: Potential new land based project

AKVA group Land Based A/S, a wholly owned subsidiary of AKVA group ASA (?AKVA?),

has signed an engineering and design contract with the Norwegian company Ecofisk

AS (?Ecofisk?). Ecofisk plan for a new land based grow-out facility of 5,000

tonnes at Espevik, Norway, and holds a license for producing up to 40,000

tonnes.

AKVA is chosen as the preferred supplier and the final delivery contract for the

initial 5,000 tonnes, if awarded, has a value of approx. EUR 45 million.

AKVA will participate up to NOK 30 million in equity in the project if

sufficient further financing is achieved and has so far provided NOK 5,500,000

in equity financing.

AKVA's further equity participation in the project is subject to Ecofisk

obtaining the necessary financing for the project and agreement on a final

delivery contract.

Dated: 5 November 2020

AKVA group ASA

Web: www.akvagroup.com

CONTACTS:

Knut Nesse Chief Executive Officer

Phone: +47 51 77 85 00

Mobile: +47 91 37 62 20

Ronny Meinkøhn Chief Financial Officer

Phone: +47 51 77 85 00

Mobile: +47 98 20 67 76

This information is subject to the disclosure requirements pursuant to Section

5-12 the Norwegian Securities Trading Act

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