Norcod - Share Issue/Capital Change 2025

NORCOD AS: NEW SHARE CAPITAL REGISTERED

Reference is made to the stock exchange notice from Norcod AS (the "Company")

on 27 November 2025 regarding the successful completion of a private placement

of 12,707,454 new shares in the Company at a subscription price of NOK 12.375

per share, raising gross proceeds totalling NOK 157,254,750 (the "Private

Placement").

The share capital increase pertaining to the issuance of the new shares under

the Private Placement has today been registered with the Norwegian Register of

Business Enterprises (Nw. Foretaksregisteret). Following this, the Company's

registered share capital is NOK 35,183,513.5 divided into 70,367,027 shares,

each with a nominal value of NOK 0.50.

For additional information, please contact:

Christian Riber, CEO Tel: +47 905 37 990, E-mail: [email protected]

Stian Vollan-Hansen, CFO Tel: +47 481 78 846, E-mail: [email protected]

About Us

Norcod's core business is commercial sea farming of cod through ownership and

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

farms are located in Mid-Norway and along the Helgeland coast 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 has been submitted pursuant to the Securities Trading Act §

5-12 and MAR Article 17. The information was submitted for publication,

through the agency of the contact persons set out above, at 2025-12-10 15:00

CET.

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