Leroy Seafood Group — Share Issue/Capital Change 2016

Jun 2, 2016

Lerøy Seafood Group ASA : Contemplated private placement

Lerøy Seafood Group ASA : Contemplated private placement

Lerøy Seafood Group ASA (OSE: LSG) - Contemplated 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, 2 June 2016

Lerøy Seafood Group ASA ("Lerøy" or the "Company", ticker "LSG") has retained

Pareto Securities AS as Sole Manager and Bookrunner (the "Bookrunner") to advise

on and effect a private placement of new shares directed towards Norwegian and

international investors after the close of Oslo Stock Exchange today (the

"Private Placement"), pursuant to and in compliance with applicable exemptions

from the obligation to publish a prospectus pursuant to the Norwegian Securities

Trading Act.

In the Private Placement the Company is offering between 4,000,000 and

5,000,000 new shares, in addition to up to 300,000 own shares held by the

Company, in total representing between 7.93% and 9.77% of the currently

outstanding capital of the Company. The price in the Private Placement will be

determined through an accelerated bookbuilding process. The minimum order has

been set to the number of shares that equals an aggregate purchase price of at

least EUR 100,000, with a minimum allocation amount of the NOK equivalent of EUR

100,000.

The Company has received significant pre-commitments from existing shareholders,

as well as new institutional investors to subscribe for shares in the Private

Placement. The Company's largest shareholder, Austevoll Seafood ASA, will not

participate in the Private Placement.

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 today in a

separate stock exchange release, or will alternatively be used 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 bookbuilding period commences today at 16:30 CET (2 June 2016) and ends on

3 June 2016 at 08:00 CET. The Company and the Bookrunner may, however, at any

time and for any reason resolve to close or extend the bookbuilding period at

their sole discretion.

The Company will announce the number of shares placed and the final subscription

price in the Private Placement through a stock exchange notice expected to be

sent before the opening of Oslo Stock Exchange on 3 June 2016.

All shares offered and allocated in the Private Placement will be settled

immediately upon payment by way of transfer to the applicants of already listed

shares made available for the Bookrunner by Austevoll Seafood ASA, the majority

shareholder in Lerøy, and the Company (own shares), based on a standard share

lending agreement. Accordingly, all shares subscribed in the Private Placement

will,  effectively, be tradable immediately after allocation.

The borrowed shares will be returned to Austevoll Seafood ASA following the

issuance of new shares in the Company.

Notification of allotment will be sent to the applicants on or about 3 June

2016 through a contract note to be issued by the Bookrunner. The final

allocation will be made at the Board's sole discretion, however with priority to

existing shareholders, and otherwise on criteria such as (but not limited to)

pricing, timeliness of the application, order size, sector knowledge, perceived

investor quality and investment horizon. The payment date for the allocated

shares is expected to be on 7 June 2016.

For further information, please contact:

Helge Singelstad, COB, +47 916 61 001

Sjur S. 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, institutional 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 a number of subsidiaries predominantly in Europe, 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 quality seafood.

This information is subject of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#2017637]