Måsøval AS - Waiver from financial covenants in Q4 2024

06 Feb 2025 19:40 CET

6.2.2025 19:40:04 CET | Måsøval AS | Additional regulated information required
to be disclosed under the laws of a member state

Due to increased interest costs as a result of residual tax on planned tax
positions, Måsøval AS (the "Company") has initiated a waiver process for the
financial covenants on equity ratio and interest cover ratio (the "Financial
Covenants") with its lenders under its senior bank financing of NOK 1.9 bn.

This process has been completed, and the lenders have approved the following
temporary waiver of the Financial Covenants for Q4 2024:

* The interest cover ratio shall not at any time be less than 2.75x; and
* The equity ratio shall not at any time be less than twenty-five per cent.
(25.00%).

As of Q1 2025, the Financial Covenants will go back to the following original
levels:

* The interest cover ratio shall not at any time be less than 4.00x; and
* The equity ratio shall not at any time be less than thirty per cent.
(30.00%).

The Company expects that the equity ratio for Q4 2024 will be higher than thirty
per cent. (30.00%), and that the interest cover ratio for Q4 2024 will be higher
than the approved requirement of 2.75x.

DISCLOSURE REGULATION

This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

CONTACTS

* Anders Hagestande, CFO, Måsøval AS, +47 415 82 138,
anders.hagestande@masoval.no

ABOUT MÅSØVAL AS

Måsøval is an integrated producer of Atlantic salmon with more than 50 years of
operational experience. Located in Central and West of Norway, Måsøval has both
significant farming operations at sea and inhouse smolt production. Måsøval is
processing and exporting high quality Atlantic salmon to a global marketplace.

ATTACHMENTS

Download announcement as PDF.pdf -
https://kommunikasjon.ntb.no/ir-files/17847731/18413309/5587/Download%20announce
ment%20as%20PDF.pdf

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