Frøy ASA

Board/Management Information • Nov 11, 2021

Tonje Foss new CEO in Frøy

Tonje Foss new CEO in Frøy

Sistranda, Norway, November 11

Frøy ASA (“Frøy” or the “Company”) today announced that Tonje Foss has been named the Company´s new CEO from first quarter 2022. She succeeds Helge Gåsø, who founded the Company in 1997 and has served as CEO since that time. Helge Gåsø has indicated that he is open and ready to join the Board of Directors of Frøy at the earliest convenience.

Tonje Foss comes from the position as strategy director in Enova. From 2017 to 2020 she was regional director in Atea for region North. She has 19 years of experience from the oil industry from various positions and companies, including Kvaerner, Schlumberger and Aker BP. Foss has experience from the Board of Directors in Det Norske Oljeselskap and SalMar, and is currently board member in Sparebank 1 SMN.

Helge Gåsø says: “Tonje Foss brings more than 20 years of industry experience from the oil industry, IT industry, and as a strategic advisor within green industry solutions. As a long-term shareholder and founder of Frøy I believe the time is right to leave the helm to a new captain, who can ensure that Frøy continues to deliver growth and value creation for its shareholders. Our ambition is to be the leading and preferred provider of efficient and sustainable aqua services. Tonje Foss has demonstrable track record and valuable experience needed to lead Frøy in the coming years.”

Svein Sivertsen, Chairman of the Board of Frøy says: “Helge Gåsø founded and built up Frøy to the leading aqua service company it is today. In Tonje Foss, Frøy has secured the service of a new CEO with solid strategic and operational track record. Her background strengthens the management team in Frøy with competence and experience that will be highly relevant for Frøy going forward.”

Tonje Foss says: “I am very excited to be entrusted with the opportunity to lead Frøy into the next stage of development. Frøy has a strong competitive position and a unique operational platform with approx. 700 dedicated aqua service professionals. I look forward to further develop Frøy´s strong position, to create value and jobs in local communities along the Norwegian coast and to continue building the global leading aqua service company.”

For further information, please contact:

Helge Gåsø, CEO +47 901 01 101

Svein Sivertsen, Chairman +47 928 85 111

Sondre Vevstad, IR +47 936 54 555

About Frøy:

Frøy is a leading integrated provider of aqua service services to Norwegian salmon farmers. With a team of more than 670 specialised professionals and a modern fleet of 85 vessels, Frøy offers a wide range of infrastructure services to salmon farmers. The service offer includes transport of fish, sorting, counting, cleaning of nets, treatment for diseases and lice, inspection, installation and maintenance of salmon farming sites.

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

-12 of the Norwegian Securities Trading Act. This stock exchange announcement was published by Sondre Vevstad investor relations in Frøy ASA on 11 November 2021 at 07:00 CEST.