STRATEGIC REVIEW OF SALMAR’S INDIRECT HOLDING IN FRØY ASA

Strategic review of Salmar’s indirect holding in Frøy ASA . Based on incoming interest regarding Frøy ASA (OSE:FROY) (“Frøy”), NTS ASA (“NTS”), a wholly owned subsidiary of SalMar ASA (“SalMar”), has decided to explore strategic alternatives in Frøy with the aim of maximising value for its shareholders. NTS currently holds 62,269,112 shares in Frøy representing approximately 72.11% of the shares and votes in Frøy.

NTS has engaged DNB Markets as financial advisor and Advokatfirmaet BAHR AS as legal adviser to assist in the strategic review.

Frøy is a leading integrated provider of aqua services to Norwegian salmon farmers. With a team of more than 800 aqua service specialists and a modern fleet of more than 80 vessels, Frøy offers a wide range of infrastructure services to salmon farmers. The service offering includes transport of fish, sorting, counting, cleaning of nets, treatment for diseases and lice, inspection, installation, and maintenance of salmon farming sites.

Further information about the company can be found on: www.froygruppen.no

The strategic review is expected to be concluded within 2023. No decisions have been taken and a transaction, if any, remains subject to market conditions.

About Frøy

Frøy is Norway’s largest competence environment within aquaservice. They are a total supplier of vessel services and a fully integrated partner in the value chain.

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