Norcod — Share Issue/Capital Change 2024

Apr 4, 2024

NORCOD AS: Preliminary result of Subsequent Offering

NORCOD AS: Preliminary result of Subsequent Offering

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY, IN OR INTO AUSTRALIA, CANADA, JAPAN, HONG KONG, SOUTH AFRICA OR THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN.

Reference is made to the stock exchange notice from Norcod AS ("Norcod" or the "Company") on 22 March 2024 regarding the start of the subscription period in the subsequent offering (the "Subsequent Offering") of up to 1,333,333 new shares (the “Offer Shares”) at a subscription price of NOK 12 per share (the "Offer Price").

The subscription period for the Subsequent Offering ended today at 16:30 CET. At the expiry of the subscription period the Company has received subscriptions for approximately 214,232 shares in the Subsequent Offering.

The allocation of the Offer Shares will be resolved in accordance with the prospectus dated 21 March 2024. The final result of the Subsequent Offering will be published shortly thereafter, and letters regarding allocation of Offer Shares and the corresponding subscription amount to be paid by each eligible shareholder who has subscribed for Offer Shares in the Subsequent Offering, will be distributed on or about 5 April 2024.

ABG Sundal Collier ASA is acting as bookrunner for the Subsequent Offering (the "Manager"). Advokatfirmaet Haavind AS is acting as legal counsel to Norcod.

For more information, please contact:

Christian Riber,

CEO, Norcod AS

Tel: +47 905 37 990

E-mail: cr@norcod.no

About Norcod:

Norcod AS’ core business is commercial sea farming of cod but through ownership

and partnerships is involved in the entire value chain. Norcod’s existing fish

farms are located in Mid-Norway with ideal conditions for cod. The company is

contributing to blue ocean value creation with minimal impact on the environment

while supporting local communities. Norcod is listed on Oslo’s Euronext Growth

market.

This information is subject of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act and the EU Market Abuse Regulation

(MAR).