Andfjord Salmon

Share Issue/Capital Change • Apr 2, 2025

Andfjord Salmon: Final results of the Subsequent Offering

Andfjord Salmon: Final results of the Subsequent Offering

2.4.2025 20:13:04 CEST | Andfjord Salmon | Additional regulated information

required to be disclosed under the laws of a member state

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN

AUSTRALIA, CANADA, THE HONG KONG SPECIAL ADMINISTRATIVE REGION OF THE PEOPLE'S

REPUBLIC OF CHINA, SOUTH AFRICA, NEW ZEALAND, JAPAN, OR THE UNITED STATES, OR

ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD

BE UNLAWFUL.

Reference is made to the stock exchange announcement made by Andfjord Salmon

Group AS (the "Company") on 31 March 2025, regarding the preliminary results of

the subsequent offering (the "Subsequent Offering") of new shares (the "Offer

Shares") in the Company at a subscription price of NOK 35.00 per share.

The subscription period for the Subsequent Offering expired on 31 March 2025 at

16:30 hours (CEST). By the end of the subscription period, the Company had

received valid subscriptions for 11,592 Offer Shares. The board of directors of

the Company has today resolved to allocate and issue a total of 11,592 Offer

Shares in accordance with the allocation criteria set out in the national

prospectus for the Subsequent Offering dated 18 March 2025.

The Company will consequently raise NOK 405,720 in gross proceeds through the

Subsequent Offering.

Notifications of allocated Offer Shares in the Subsequent Offering and the

corresponding amount to be paid by each subscriber will be sent out in a

separate letter to each subscriber. The due date for payment of the Offer Shares

is on 4 April 2025.

Subject to due payment of the Offer Shares by the subscribers, the share capital

increase relating to the Subsequent Offering is expected to be registered with

the Norwegian Register of Business Enterprises on or about 11 April 2025 and the

Offer Shares will thereafter be delivered to the VPS accounts of the subscribers

to whom they are allocated, expected on or about 14 April 2025.

Following registration of the share capital increase pertaining to the issuance

of the Offer Shares, the Company's share capital will be NOK 84,773,463, divided

on 84,773,463 shares, each with a nominal value of NOK 1.

CONTACTS

* Bjarne Martinsen, CFO, Andfjord Salmon Group AS, +47 975 08 345,

bjarne.martinsen@andfjord.no

ABOUT ANDFJORD SALMON

Located at Andøya on the Arctic Archipelago of Vesterålen, Norway, Andfjord

Salmon is developing the world's most sustainable and fish-friendly aquaculture

facility of its kind. Through a proprietary flow-through system, Andfjord Salmon

combines the best from ocean and land-based salmon farming. In its first

production cycle, the company achieved an industry-leading survival rate of 97.5

percent, feed conversion ratio of 1.05, superior share of 91.1 percent, and

required 1 kWh to produce one kilo of salmon. For more information, see

www.andfjordsalmon.com - http://www.andfjordsalmon.com -

http://www.andfjordsalmon.com.

ADVISORS

ABG Sundal Collier ASA, Arctic Securities AS and SpareBank 1 Markets AS acted as

managers (the "Managers") in the Subsequent Offering.

Advokatfirmaet Schjødt AS acted as legal advisor to the Company in connection

with the Subsequent Offering.

DISCLOSURE REGULATION

This information is subject to a duty of disclosure pursuant to the Company's

continuing obligations as a company listed on Euronext Growth Oslo.

IMPORTANT NOTICE

This announcement is not and does not form a part of any offer to sell, or a

solicitation of an offer to purchase, any securities of the Company. The

distribution of this announcement and other information may be restricted by law

in certain jurisdictions. Copies of this announcement are not being made and may

not be distributed or sent into any jurisdiction in which such distribution

would be unlawful or would require registration or other measures. Persons into

whose possession this announcement or such other information should come are

required to inform themselves about and to observe any such restrictions.

The securities referred to in this announcement have not been and will not be

registered under the U.S. Securities Act of 1933, as amended (the "Securities

Act"), and accordingly may not be offered or sold in the United States absent

registration or an applicable exemption from the registration requirements of

the Securities Act and in accordance with applicable U.S. state securities laws.

The Company does not intend to register any part of the offering or their

securities in the United States or to conduct a public offering of securities in

the United States. Any sale in the United States of the securities mentioned in

this announcement will be made solely to "qualified institutional buyers" as

defined in Rule 144A under the Securities Act.

In any EEA Member State, this communication is only addressed to and is only

directed at qualified investors in that Member State within the meaning of the

Prospectus Regulation, i.e., only to investors who can receive the offer without

an approved prospectus in such EEA Member State. The expression "Prospectus

Regulation" means Regulation 2017/1129 as amended together with any applicable

implementing measures in any Member State. This communication is only being

distributed to and is only directed at persons in the United Kingdom that are

(i) investment professionals falling within Article 19(5) of the Financial

Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the

"Order") or (ii) high net worth entities, and other persons to whom this

announcement may lawfully be communicated, falling within Article 49(2)(a) to

(d) of the Order (all such persons together being referred to as "relevant

persons").

This communication must not be acted on or relied on by persons who are not

relevant persons. Any investment or investment activity to which this

communication relates is available only for relevant persons and will be engaged

in only with relevant persons. Persons distributing this communication must

satisfy themselves that it is lawful to do so.

The information contained in this announcement speak only as at its date, and

are subject to change without notice. The Company does not undertake any

obligation to review, update, confirm, or to release publicly any revisions to

the content of this announcement.

Neither of the Company, the Managers nor any of their respective affiliates

makes any representation as to the accuracy or completeness of this announcement

and none of them accepts any responsibility for the contents of this

announcement or any matters referred to herein. This announcement is for

information purposes only and is not to be relied upon in substitution for the

exercise of independent judgment. It is not intended as investment advice and

under no circumstances is it to be used or considered as an offer to sell, or a

solicitation of an offer to buy any securities or a recommendation to buy or

sell any securities in the Company. Neither the Company, the Managers nor any of

their respective affiliates accepts any liability arising from the use of this

announcement.