Grieg Seafood ASA Andreas Kvame steps down as CEO

30 Mar 2025 23:04 CEST

Grieg Seafood ASA ("the Company") today announces that Andreas Kvame has
agreed with the Board of Directors ("the Board") that he steps down as CEO of
Grieg Seafood ASA after 10 years in the position. The Board has initiated the
search process for a new CEO.

Nina Willumsen Grieg, Regional Director of Grieg Seafood Rogaland, has been
appointed interim CEO, with Andreas Kvame supporting the CEO transition
process. In line with good corporate governance, Per Grieg Jr. steps down as
Chair of the Board of the Company and takes the position as a regular Board
Member. The Vice-Chair of the Board, Paal Espen Johnsen, takes on the role as
Chair of the Board until the next General Meeting.

In February, the Company initiated a financial transformation program, aiming
to transform Grieg Seafood into a focused Norwegian seafood producer,
concentrating on core operations in Rogaland and Finnmark. By streamlining the
Company's portfolio and reinforcing its financial foundation, Grieg Seafood is
positioning itself for a return to profitability and long-term sustainable
growth in its home market. This program will be executed as planned.

Nina Willumsen Grieg has worked in Grieg Seafood for 10 years in various
executive, strategic and operational roles. During her four years of managing
Rogaland, the region has shown strong results both financially and
biologically.

Paal Espen Johnsen, Chair of the Board, says:
"Andreas Kvame has led Grieg Seafood for a decade. During his time as CEO, he
has set the agenda for and executed the successful post-smolt strategy. He has
played an instrumental role in developing Grieg Seafood into an international
fish farming company with integrated operations. The strategic direction for
the company remains firm. The work is ongoing, and I am confident that the
measures will yield results. On behalf of the Board, I would like to thank
Andreas for his contributions over the years."

Andreas Kvame says:
"It has been a true privilege to lead Grieg Seafood for more than 10 years,
and I want to thank all of my colleagues for their efforts. A main priority
has been the development of post-smolt production, which I strongly believe
will play an important part in the future of the entire salmon farming
industry. Currently it is a challenging time for Grieg Seafood. As a result of
the financial transformation program initiated, the Company has been
stabilized financially and is positioned to take the measures needed for
operational improvements. I wish my successor the best of luck and believe
Grieg Seafood has a bright future ahead."

For further enquiries, please contact:
Investor contact: Paal Espen Johnsen, Chair of the Board
Mobile: +47 48402000
Email: paal.e.johnsen@grieg.no

Media contact: Chief Communications Officer Kristina Furnes
Mobile: +47 48185505
Email: kristina.furnes@griegseafood.com

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 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 article 17 of the
Market Abuse Regulation as well as section 5-12 of the Norwegian Securities
Trading Act.
The stock exchange announcement was published by May Hansen, Executive
Assistant, Grieg Seafood Group ASA, on 30 March 2025 at 11:04 p.m. CEST.

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