ANDFJORD SALMON ANNOUNCES INVESTMENT PLANS FOR FLOW THROUGH SALMON

Andfjord Salmon announces investment plans for flow through salmon. Andfjord Salmon AS of Norway has engaged ABG Sundal Collier ASA as sole manager and bookrunner to advise on and effect a contemplated private placement of new shares raising gross proceeds of NOK 120 million.

The net proceeds from the Private Placement will primarily be used to invest in the Company’s shore based salmon farming facility at Kvalnes, expansion to new areas at Breivik, Fiskenes and juvenile salmon production sites (including regulation and license processes) and infrastructure for such expansion.

The price per share in the Private Placement has been set to NOK 40.00, equivalent to a pre-money equity value of the Company of NOK 1,195 million. Certain existing shareholders in the Company have pre-committed to subscribe for shares for a total amount of NOK 20 million in the Private Placement. In addition, three cornerstone investors, have, subject to certain conditions, undertaken to subscribe for and be allocated shares as follows: (i) DNB Asset Management has undertaken to subscribe for and be allocated shares for NOK 20 million; (ii) Nordea Investment Management has undertaken to subscribe for and be allocated shares for NOK 20 million; and (iii) Toluma Norden AS has undertaken to subscribe shares for NOK 10 million and be allocated shares for a minimum of NOK 8 million.