Bakkafrost P/f — Major Shareholding Notification 2024

May 31, 2024

Substantial Shareholding Disclosure - Bakkafrost P/F

Substantial Shareholding Disclosure - Bakkafrost P/F

a. Name of Issuer of shares: Bakkafrost P/F

b. Date which holding exceeded threshold: May 30, 2024

c. Name of Shareholder: Sprucegrove Investment Management

d. Number of shares the notification encompasses: 2,977,169 shares (5.03%) based on shares outstanding of 59,143,000 shares (source: Signal)

e. Subsequent Situation Prior to Disclosure: Not Applicable. This is our first disclosure for this company investment.

f. Percentage of the votes/shares of the company held in the form of rights to shares: 0

g. The circumstance that triggered disclosure obligation: Purchase of shares for client accounts

h. Chain of controlled undertakings through which shares/rights are owned: Shares are held beneficially in client accounts which are managed by Sprucegrove Investment Management

i. Notification concerning rights to shares: Sprucegrove does not hold any rights