Grieg Seafood ASA: Successful placement of perpetual green hybrid bond

27 Feb 2025 19:03 CET

Grieg Seafood ASA ("the "Company") has successfully completed a new perpetual
green hybrid bond issue of NOK 2,000m with first call date after 4 years and a
coupon of 3 months NIBOR + 575bps. The transaction attracted strong interest.

Net proceeds from the bond issue will be used for green projects as further
defined by the Green Bond Framework, including by way of refinancing existing
debt originally incurred to finance such green projects. The hybrid bond will
be accounted for as equity in the balance sheet and constitute subordinated
obligations for the Company.

The hybrid bond strengthens Grieg Seafood's liquidity, equity, and financial
flexibility to pursue its ambitions for further investments and development of
the Norwegian fish farming assets while protecting the values and optionality
in the Canadian asset base.

Both Rogaland and Finnmark entered 2025 close to MAB capacity, with combined
harvest volumes expected to increase by 13% from 2024 to 2025. The main
priority is to restore profitability in Finnmark, and to improve profitability
towards the Rogaland benchmark levels supported by increased post-smolt
capacity.

Arctic Securities, DNB Markets and Nordea acted as joint bookrunners, and DNB
Markets and Nordea as green bond advisors, in connection with the placement of
the new hybrid bond issue.

An application will be made for the bonds to be listed on Oslo Stock Exchange.

For further enquiries, please contact:
Magnus Johannesen, CFO
Cell phone +47 959 13 243

About Grieg Seafood:
Grieg Seafood ASA is one of the world's leading salmon farmers. Our farms are
in Finnmark and Rogaland in Norway, and British Columbia as well as
Newfoundland in Canada. Our headquarter is located in Bergen, Norway. Grieg
Seafood ASA was listed at the Oslo Stock Exchange in June 2007.
Sustainable farming practices are the foundation of Grieg Seafood's
operations. The lowest possible environmental impact and the best possible
fish welfare is both an ethical responsibility and drive economic
profitability.
To learn more, please visit www.griegseafood.com

The information is publicly disclosed in accordance with section 5-12 of the
Norwegian Securities Trading Act. The stock exchange announcement was
published by May Hansen, Administrative Secretary, Grieg Seafood Group ASA, on
27 February 2025 at 7:03 p.m. CET.

More information:
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