Nordic Halibut AS — Share Issue/Capital Change 2021

Nov 10, 2021

Nordic Halibut AS – Subsequent repair offering will not be carried out

Nordic Halibut AS – Subsequent repair offering will not be carried out

Averøy, 10 November 2021

Reference is made to the company's stock exchange announcements on 9 November 2021 regarding the private placement (the "Private Placement") of new shares in Nordic Halibut AS (the "Company") in which the company has expressed the possibility of a subsequent repair offering.

The Company has resolved not to carry out a subsequent offering of shares. In reaching this conclusion, the following has been taken into consideration:

• The subscription price of NOK 27.50 represented a limited discount to the prices at which the Company's shares had been traded on Euronext Growth in the recent period prior to the announcement of the Private Placement (approx. 4.9% discount to VWAP of approx. NOK 28.9 the last twenty trading days) and the number of new shares represent 26.9% of the existing number of shares in the Company, and a dilution of existing shareholders of 21.2%.

• Allocation of shares to existing shareholders has not had the effect of significantly affecting the balance of power in the existing shareholder base.

• About 99% of the Company's existing shareholders was offered to participate in the Private Placement. A proportionate offer size in a repair offering directed at the remaining shareholders would have been limited to approx. NOK 2 million. It will not be in the Company's or its shareholders' and other stakeholders' general interest, that the Company incur the costs and management time required to complete a subsequent repair offering of such limited size.

For more information, please contact:

CEO Edvard Henden, edvard@nordichalibut.no, tel: +47 91 14 11 65

CFO Kenneth Meyer, kenneth.meyer@nordichalibut.no, tel: +47 45 21 24 24

This information is subject to the disclosure in the Norwegian Securities Trading Act section § 5-12.