Leroy Seafood Group — Share Issue/Capital Change 2016

Jun 3, 2016

Lerøy Seafood Group ASA : Completed private placement

Lerøy Seafood Group ASA : Completed private placement

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR

INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES

Bergen, 3 June 2016

Reference is made to the stock exchange release from Lerøy Seafood Group ASA

("Lerøy" or the "Company", ticker "LSG") published yesterday regarding the

contemplated private placement of between 4,000,000 and 5,000,000 new shares, in

addition, sale of up to 300,000 own shares held by the Company.

The Company announces today that it has raised NOK 2,200 million in gross

proceeds through a private placement consisting of 5,000,000 new shares and sale

of 300.000 own shares at a price of NOK 415 per share (the "Private Placement").

After this transaction, the Company holds 29,776 own shares. The Private

Placement took place through an accelerated bookbuilding process after close of

markets yesterday. The Private Placement, which was well oversubscribed,

attracted strong interest from both existing shareholders as well as new high

quality institutional investors.

Net proceeds from the Private Placement will be a part of the financing of the

acquisitions of Havfisk ASA and Norway Seafoods Group AS, as announced

yesterday, or alternatively for other corporate purposes including but not

limited to such purposes as considered in the authorisation granted by the

shareholders' resolution passed on 24 May 2016.

The Board of Directors has considered various transaction structures to ensure

the financing of the abovementioned acquisition of Havfisk ASA and Norway

Seafoods Group AS. Taking into account the need for a swift completion of the

abovementioned transaction, the Board of Directors has following careful

considerations decided that completing the Private Placement on the terms

referred to above, in the present situation, are in the Company's and the

shareholders' joint interests. This accordingly includes setting aside the

existing shareholders' preferential rights pursuant to the authority granted by

the general meeting on 24 May 2016.

Notification of allotment and payment instructions will be sent to the

applicants on or about 3 June 2016 through a contract note to be issued by the

Pareto Securities AS. The delivery of the shares will be made by delivery of

existing and unencumbered shares in the Company that are already listed on the

Oslo Stock Exchange. Shares will be made available pursuant to a stock lending

agreement entered into between the Company, Austevoll Seafood ASA and Pareto

Securities AS. The shares will thus be tradable from allocation. Settlement of

the allocated shares is expected to take place through a delivery versus payment

transaction on 7 June 2016.

Pareto Securities AS acted as Sole Manager and Bookrunner in the Private

Placement.

For further information, please contact:

Sjur Malm, CFO, + 47 417 72 020

****

About Lerøy Seafood Group ASA:

Lerøy Seafood Group is the leading exporter of seafood from Norway and is in the

business of meeting the demand for food and culinary experiences in Norway and

internationally by supplying seafood products through selected distributors to

producers, instiutional households and consumers. The group's core activities

are distribution, sale and marketing of seafood, processing of seafood,

production of salmon, trout and other species, as well as product development.

The group operates through subsidiaries in Norway, Sweden, France and Portugal

and through a network of sales offices that ensure its presence in the most

important markets. The group's task is to satisfy the customer's requirements

for cost-effective and continuous supplies of a wide range of high-quality

seafood products.

Lerøy Seafood Group's vision is to be the leading and most profitable global

supplier of sustainable,

This information is subject of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#2017778]