AKVA Group — Share Issue/Capital Change 2016

Apr 1, 2016

AKVA group ASA : Extended stock exchange notice - Purchase of shares in AD Offshore AS

AKVA group ASA : Extended stock exchange notice - Purchase of shares in AD Offshore AS

This notice is prepared and published by AKVA group ASA ("AKVA") in accordance

with section 3.4.1 and 3.4.2 in Continuing Obligations for companies listed on

the Oslo Stock Exchange (Oslo Børs).

The transaction

Reference is made to AKVA's stock exchange release dated 23 December 2015. AKVA

has on 31 March 2016 entered into an agreement with AØ Holding AS, Iboard AB and

Deep Sea Marine Monica Antonsen for the purchase of 58 percent of the shares in

AD Offshore AS ("ADO"). AØ Holding AS is controlled by ADO chairman and General

Manager Ansgar Østebøvik. Iboard AB is controlled by ADO Administration Manager

Bjørn Schulz. Deep Sea Marine Monica Antonsen, and related party Jarle

Birkeland, are also part of the key management in  ADO . The key management

personnel will continue in their roles after completion of the transaction.

The purchase price for the purchased shares is based on an enterprise value of

ADO on a 100 percent basis of NOK 120,000,000, with adjustments for net debt and

deviations from a normalized level of working capital on completion. An

estimated final purchase price will be paid in cash on completion of the

transaction, which is expected to take place on 7 April 2016, subject to

fulfillment of completion conditions. Completion of the transaction is not

subject to regulatory approvals. AKVA and the owners of ADO have also agreed a

mutual option to buy / sell the remaining 42% of the shares in ADO. The option

is exercisable from the date that is five years from completion. The pricing of

the remaining 42 percent of the shares is linked to the performance of the

company over the next five calendar years.

AKVA will finance the transaction with a loan from Danske Bank.

The significance of the transaction for AKVA

ADO is a leading provider of farming services to the aquaculture industry in the

Norwegian county's Rogaland and Hordaland.

"The acquisition of AD Offshore 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. AD Offshore AS also holds significant synergies with our existing

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

The transaction significantly strengthens AKVA's position in the farming service

industry, an industry which is expected to grow in the years to come.

AD Offshore AS

ADO has developed to become one of the larger aquaculture farming service

companies in Norway. The company is operating out of Haugesund and has 32

employees. Currently the company is operating 12 vessels providing a range of

services to the fish farming and offshore industry in Western Norway. In 2015

ADO had a turnover of NOK 87.0 million, net profits after tax of NOK 13.9

million and total assets of NOK 47.8 million.

The board of AD Offshore AS currently consists of Ansgar Østebøvik and Jarle

Birkeland, and the General Manager is Ansgar Østebøvik. AKVA has not entered

into any agreements for the benefit of management or key personnel in AKVA in

connection with the transaction. The selling shareholders and their controlling

owners have entered into customary non-compete and non-solicitation undertakings

in connection with the transaction, and will enter into new employment

agreements with ADO on market based terms. Other than the share purchase

agreement, and a shareholders' agreement including the put/call option described

above,  no other agreements have been entered into with the management and key

personnel in ADO.

Dated: March 31(st), 2016

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 the leading provider of technology and services to the global fish

farming industry 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 acc. to §5-12 vphl

(Norwegian Securities Trading Act)

[HUG#1999350]