Strategic review of SalMar´s indirect holding in Frøy ASA

13 Jan 2023 08:30 CET

Frøya, 13 January 2023

Reference is made to the stock exchange announcements made by SalMar ASA
(“SalMar”) and NTS ASA (“NTS”) 08:30 CET on 13 January 2023. Please find a copy
of the stock exchange release below:

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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 maximizing 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.

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For further information, please contact:

Tonje Foss, CEO +47 996 10 116
Sondre Vevstad, Interim CFO +47 936 54 555

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to Section 5-12 the Norwegian Securities Trading Act. This stock exchange
announcement was published by Sondre Vevstad, Interim CFO in Frøy ASA on January
13 2023 at 08:30 CET.

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