AKVA Group — Share Issue/Capital Change 2021

Oct 21, 2021

AKVA group ASA: Investment by Israel Corp. completed

AKVA group ASA: Investment by Israel Corp. completed

Reference is made to the announcements by AKVA group ASA ("AKVA" or the

"Company") on 29 September 2021 and 19 October 2021, regarding the investment in

the Company by Israel Corp., ("ILCO") comprising of a private placement of

3,333,430 new shares for a subscription price of NOK 96.50 per share (the

"Private Placement") and purchases of minimum 2,166,730 existing shares in the

Company for a purchase price of NOK 96.50 per share (the "Offer", and together

with the Private Placement, the "Transaction"), provided however that ILCO's

aggregate holding of shares in AKVA upon completion of the Offer and the Private

Placement of new shares should not exceed 19.99%. Further reference is made to

the announcement on 20 October 2021, where the Company informed that an

extraordinary general meeting had been held inter alia approving the Private

Placement, approving changes in the articles of association of the Company

giving ILCO a right to appoint a board member in the Company under certain

circumstances, and electing Yoav Doppelt and Irene Heng Lauvsnes to the

Company's board of directors.

The Transaction was successfully completed today, by ILCO's subscription of

3,333,340 new shares in the Private Placement and purchases of 3,266,762

existing shares in the Offer. Following the Transaction, ILCO holds an aggregate

of 6,600,192 shares in the Company, constituting 18% of the Company's registered

shares and votes. Egersund Group AS, the Company's largest shareholder, holds an

aggregate of 18,703,105 shares following the Transaction, constituting

approximately 51% of the Company's registered shares and votes.

Dated: 21 October 2021

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

E-mail: knesse@akvagroup.com

Ronny Meinkøhn - Chief Financial Officer

Phone: +47 51 77 85 00

Mobile: +47 98 20 67 76

E-mail: rmeinkohn@akvagroup.com

***

This information is subject to the disclosure requirements pursuant to sections

4-2 and 5-12 of the Norwegian Securities Trading Act.

About AKVA group ASA

AKVA group ASA is a global technology and service partner that deliver

technology and services  that  helps  solve  biological  challenges within the

aquaculture industry.  Good operational performance and fish welfare ensures

sustainability and profitability for the customer. This is the premise for

everything we deliver, from single components to services and complete

installations. In-depth aquaculture knowledge, extensive experience and a high

capacity for innovation characterizes and enables us to deliver the best

solutions for both land-based and sea based fish farming.