Grieg Seafood - Share Issue/Capital Change 2016

Contemplated sale of shares in Grieg Seafood ASA

Kvasshøgdi AS and Grieg Shipping II AS (the "Selling

Shareholders") have retained Arctic Securities AS as

manager and bookrunner (the "Manager") to explore the

sale of up to 1,824,565 shares outstanding in Grieg

Seafood ASA ("Grieg Seafood" or the "Company"),

corresponding to up to approximately 1.63 per cent of

the outstanding shares in the Company, through an

accelerated bookbuilding process (the "Placement").

In the Placement, Kvasshøgdi AS will sell of up to

1,000,000 shares and Grieg Shipping II AS will sell up

to 824,565 shares in the Company. The Selling

Shareholders are owners and members of the Grieg Group

that holds a majority holding in the Company, through

Grieg Holdings AS, Grieg Limited AS and Ystholmen AS.

Assuming all shares offered in the Placement are sold,

the Selling Shareholders will hold no shares in the

Company. The Grieg family is committed to continue to

be a majority and strategic long-term owner and

represented on the Board of the Company. Grieg Seafood

will still be consolidated within the Grieg Group.

The bookbuilding will commence today, 21 November

2016, at 16:30 CET, and will close no later than 22

November 2016, at 08:00 CET. The bookbuilding period

can be closed earlier or extended at the Manager's own

discretion.

The Selling shareholders are represented on the Board

of Directors of Grieg Seafood by Per Grieg Jr., who

acts as Chairman of the Board.

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