Bakkafrost P/f

Board/Management Information • Nov 13, 2014

New CFO appointed in Bakkafrost

New CFO appointed in Bakkafrost

Gunnar Nielsen has been appointed as new CFO in

Bakkafrost and will take up the position from

01.01.2015

Gunnar Nielsen (37) comes from the position as

advisor in the TF group - a Faroese insurance group

Tryggingarfelagið Føroyar (TF).

Mr. Nielsen holds an MSc in Business Economics and

Auditing from Copenhagen Business School.

Since 2011 Mr. Nielsen has had different positions in

the TF group, including being advisor and CEO in TF

Íløgur. Mr. Nielsen has worked as auditor at

Grannskoðaravirkið Inpact from 2008-2011 and from

1999-2006. In the period 2006-2008, Mr. Nielsen was a

corporate finance advisor in Bank Nordik

Contacts:

Regin Jacobsen, CEO of P/F Bakkafrost: +298 23 50 01

(mobile)

This information is subject of the disclosure

requirements acc. to §5-12 vphl (Norwegian Securities

Trading Act)

About Bakkafrost: Bakkafrost is the largest salmon

farmer in the Faroe Islands. The Group is fully

integrated from feed production to smolt, farming,

VAP and sales. The Group has production of fish meal,

fish oil and salmon feed in Fuglafjørður. The Group

operates licenses on 14 farming fjords. The Group has

primary processing in Klaksvík, Kollafjørð and

Strendur and secondary processing (VAP) in Glyvrar

and Fuglafjørður. The headquarters are located in

Glyvrar, and the company has a total of 640

employees.