Substantial Shareholding Disclosure - Bakkafrost P/F

31 May 2024 16:27 CEST

a. Name of Issuer of shares: Bakkafrost P/F

b. Date which holding exceeded threshold: May 30, 2024

c. Name of Shareholder: Sprucegrove Investment Management

d. Number of shares the notification encompasses: 2,977,169 shares (5.03%) based
on shares outstanding of 59,143,000 shares (source: Signal)

e. Subsequent Situation Prior to Disclosure: Not Applicable. This is our first
disclosure for this company investment.

f. Percentage of the votes/shares of the company held in the form of rights to
shares: 0

g. The circumstance that triggered disclosure obligation: Purchase of shares for
client accounts

h. Chain of controlled undertakings through which shares/rights are owned:
Shares are held beneficially in client accounts which are managed by Sprucegrove
Investment Management

i. Notification concerning rights to shares: Sprucegrove does not hold any
rights

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