Grieg Seafood — Share Issue/Capital Change 2020

Mar 27, 2020

Grieg Seafood ASA: Directed Private Placement

Grieg Seafood ASA: Directed Private Placement

Reference is made to the stock exchange announcement from Grieg Seafood ASA (the

"Company") released on 7 February 2020 regarding the acquisition of Grieg

Newfoundland AS (the "Transaction"). In connection with the transaction, the

board of the Company has on 27 March 2020 resolved to complete a directed

private placement by issuing 1,785,042 new shares (the "New Shares") in the

Company to Grieg Aqua AS, Kvasshøgdi AS, Knut Skeidsvoll and ?10546569 Canada

Inc (the "Private Placement") as part of consideration for the shares in Grieg

Newfoundland AS. The subscription price for each New Share will be NOK

?140.052727, corresponding to a total contribution in kind of NOK 250,000,000.

The New Shares shall be subscribed on closing of the Transaction which shall

occur on 31 March 2020 at the latest.

The completion of the Private Placement is subject to (i) completion of the

acquisition of Grieg Newfoundland AS, (ii) subscription of the New Shares by

Grieg Aqua AS, Kvasshøgdi AS, Knut Skeidsvoll and ?10546569 Canada Inc, and

(iii) registration of the increased equity of the Company pertaining to the

Private Placement with the Norwegian Register of Business Enterprises and the

Norwegian Central Securities Depositary (VPS).

The New Shares will be tradeable after the conditions of the Private Placement

set out above have been fulfilled.

The Company has retained DNB Markets, a part of DNB Bank ASA, Nordea Bank Abp,

filial i Norge and SpareBank 1 Markets AS to advise on and effectuate the

Private Placement.

For more information, contact:

Andreas Kvame, CEO, Grieg Seafood ASA

+47 90 77 14 41

andreas.kvame@griegseafood.com

Atle Harald Sandtorv, CFO, Grieg Seafood ASA

+47 90 84 52 52

atle.harald.sandtorv@griegseafood.com

About Grieg Seafood

Grieg Seafood ASA is one of the world's leading salmon farmers, specializing in

Atlantic salmon. The Group has a production target of 100 000 tonnes gutted

weight in 2020. Our farming facilities are in Finnmark and Rogaland in Norway,

British Columbia in Canada and Shetland in the UK. Approximately 818 people are

employed by the Group. Grieg Seafood ASA was listed at the Oslo Stock Exchange

in June 2007. Our headquarters are situated in Bergen, Norway.  The business

development of Grieg Seafood ASA focuses on profitable growth, sustainable use

of the ocean and being the preferred supplier to selected customers. To learn

more, please visit www.griegseafood.com.

This information is subject to the disclosure requirements pursuant to Section

5-12 the Norwegian Securities Trading Act