Norcod

Share Issue/Capital Change • Feb 28, 2025

Key information relating to a potential Subsequent Offering

Key information relating to a potential Subsequent Offering

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY, IN 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 (the “Company”) on 27 February 2025 regarding the successful completion of a private placement of 13,724,225 new shares in the Company at a subscription price of NOK 12 per share (the “Offer Price”) raising gross proceeds of approximately NOK 165 million (the “Private Placement”) and a potential subsequent offering of new shares at a price equal to the Offer Price (the “Subsequent Offering”).

In accordance with the continuing obligations of companies listed on Euronext Growth Oslo, the following key information is given with respect to the Subsequent Offering:

Date of announcement of the potential Subsequent Offering: 27 February 2025

Last day of trading including right to participate in Subsequent Offering: 27 February 2025

First Date of trading excluding right to participate in Subsequent Offering: 28 February 2025

Record Date: 3 March 2025

Date of approval: On or about 14 March 2025

Maximum number of new shares: 1,666,666

Subscription price: NOK 12.00

This announcement was published by Stian Vollan-Hansen, on the date and time provided.

For further information, please contact:

Christian Riber, Chief Executive Officer, phone: +47 905 37 990, E-mail: cr@norcod.no

Stian Vollan-Hansen, Chief Financial Officer, phone: + 47 481 78 846, E-mail: svh@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 SecuritiesTrading Act and the EU Market Abuse Regulation (MAR).