NORCOD AS: New share capital registered

11 Mar 2024 13:26 CET

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR
INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN, HONG KONG, SOUTH AFRICA OR THE UNITED
STATES OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR
DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER
OF ANY OF THE SECURITIES DESCRIBED HEREIN.

Reference is made to the stock exchange notice from Norcod AS (the
“Company”) on 29 February 2024 regarding the successful completion of a private
placement of 14,166,667 new shares (the "Offer Shares") in the Company at a
subscription price of NOK
12 per share (the “Offer Price”) raising gross proceeds of approx. NOK 170
million (the “Private Placement”) and a potential subsequent offering of new
shares at a price equal to the Offer Price (the “Subsequent Offering”). The
board of directors have resolved to complete the Private Placement by issuance
of the Offer Shares in two tranches as follows:

i) one tranche where 1,546,336 Offer Shares are issued based on a board
authorisation issued by the general meeting to the board of directors on 12 June
2023 (Tranche 1); and

ii) one tranche where 12,620,331 Offer Shares are issued by the general meeting
(Tranche 2).

The general meeting where Offer Shares pertaining to Tranche 2 are issued will
be held on 15 March 2024, as noted in the stock exchange notice dated 1 March
2024.

The share capital increase pertaining to the issuance of the Offer Shares under
Tranche 1 has today been registered with the Norwegian Register of Business
Enterprises (Nw. Foretaksregisteret). Following this, the Company's registered
share capital is NOK 15,487,005.00 divided into 30,974,010 shares, each with a
nominal value of NOK 0.50.

For more information, please contact:
Christian Riber, CEO, Norcod AS Tel: +47 905 37 990
E-mail: cr@norcod.no

Arne Kristian Hoset CFO, Norcod AS Tel: +47 988 10 282
E-mail: arne.hoset@norcod.no

About Norcod: Norcod AS’ core business is commercial sea farming of cod but
through ownership and partnerships is involved in the entire value chain.
Norcod’s existing fish farms are located in Mid-Norway 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 is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act and the EU Market Abuse Regulation
(MAR).

More information:
Access the news on Oslo Bors NewsWeb site