Austevoll Seafood ASA

Share Issue/Capital Change • Mar 18, 2016

Sale of shares in Lerøy Seafood Group ASA

Sale of shares in Lerøy Seafood Group ASA

Austevoll, 18 March 2016

Austevoll Seafood ASA ("Austevoll") has today sold

2,750,000 shares (5%) in Lerøy Seafood Group ASA at a

price of NOK 355 per share, which equals gross

proceeds of NOK 976.3 million. After the transaction,

Austevoll owns 31,394,281 shares in Lerøy Seafood

Group ASA, corresponding to approximately 57.52% of

the share capital in Lerøy Seafood Group ASA.

The Board of Austevoll intends to propose for the

ordinary shareholders meeting in the company that the

net proceeds from the transaction will increase the

recommended dividend payment for 2015 to NOK 7.00 per

share, from the previously announced NOK 2.20 per

share. The Board of Austevoll is very satisfied with

the ownership in Lerøy Seafood Group ASA, and will,

through its remaining significant ownership,

contribute to further development and value creation.

Increased free float in the Lerøy share is expected to

improve the liquidity in the share going forward.

Austevoll has entered into a customary lock up of the

remaining of the shares for a period of 90 calendar

days from closing of the transaction.

Pareto Securities AS acted as Sole Bookrunner for the

transaction.

This information is subject to the disclosure

requirements pursuant to section 5-12 of the Norwegian

Securities Trading Act.

For further information, please contact:

Helge Singelstad, Chairman of the Board

+47 91 66 10 01

Arne Møgster, CEO

+47 91 66 10 49