Andfjord Salmon

Share Issue/Capital Change • Jun 23, 2020

Issue of shares to employees

Issue of shares to employees

In connection with an employee offer, the board of directors of Andfjord Salmon AS (the "Company") has resolved to issue 76,250 new shares in the Company to the following individuals:

Name: Position: Number of shares:

Martin Rasmussen CEO 25,000

Helge Krøgenes Director of Financing and Business Development 25,000

Ruben Hammer Controller 12,500

Kenneth Jørgensen CTO 7,500

Christian Halmøy Torgersen Operations manager (from August 2020) 6,250

The subscription price per share is NOK 40.00, equal to that in the recently completed private placement. The shares will be subject to a twelve month lock-up period on certain terms, and a continued partial lock up of up to 48 months.

Following registration of the share capital increase pertaining to the new shares with the Norwegian Register of Business Enterprises, the Company's new share capital will be NOK 33,700,650.00 divided on 33,700,650 shares, each with a par value of NOK 1.00.