Bakkafrost P/f - Share Issue/Capital Change 2019

P/F BAKKAFROST (the "Company") - CAPITAL INCREASE COMPLETED - PRIMARY INSIDER HOLDING UPDATED

P/F Bakkafrost's share capital has, with effect from the date hereof, been

increased from DKK 53,658,065 to DKK 58,273,244 by way of the issue of 4,615,179

new shares of DKK 1 par value. A copy of the updated Company Certificate

reflecting the current share capital is attached for reference.

2,256,470 of the new shares were subscribed for and issued to Messrs. Northern

Link Limited and represent settlement of the Seller's Credit granted by them

pursuant to the Share Purchase Agreement concluded between the Company and

Northern Link on 25 September 2019 in respect of approx. 68.6% of the shares in

issue in The Scottish Salmon Company Plc.

The remaining 2,358,709 new shares were subscribed to by DNB Bank ASA (in their

capacity as settlement agent for the private placement of new shares which the

Company completed on 8 October) and has been used to settle the share loan

provided by Mr. Regin Jakobsen to DNB Bank ASA and the Company on 8 October this

year in order to enable the Company to settle the said private placement in

full.

As a consequence of the above, Mr. Regin Jakobsen's holding of shares in P/F

Bakkafrost has, today, increased to 4,615,896 shares, representing 7.92% of all

shares in issue.

This information is subject of the disclosure requirements pursuant to section 5

-12 of the Norwegian Securities Trading Act.

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