Kaldvik AS issues new shares in connection with the acquisition of key assets in the fish farming value chain on the east-coast of Iceland

22 Apr 2025 23:31 CEST

Frøya, Norway, 22 April 2025:

Reference is made to the announcement by Kaldvik AS ("Kaldvik", the "Company")
on 25 March 2025 regarding the completion of the acquisition of (i) 100% of the
shares in Mossi ehf. ("Mossi"), (ii) 100% of the shares in Djupskel ehf.
("Djupskel") and (iii) 33.3% of the shares in Bulandstindur ehf.
("Bulandstindur") (the "Transaction").

Following determination of the final purchase price for the shares in Djupskel
and Bulandstindur, the board in the Company has today, pursuant to an
authorisation to increase the share capital granted by the annual general
meeting on 21 June 2024, resolved to increase the share capital of the Company
with NOK 624,995.20, by issuing 6,249,952 new shares with a subscription price
of NOK 27.60 per share. The Company's claim for capital contribution has been
set-off towards the Company's debt pursuant to the promissory note of
NOK 172,498,685 issued in connection with settlement of the Transaction.

The Company will register the new share capital increase with the Norwegian
Register of Business Enterprises and issue separate announcement when the
registration of the share capital increase has been completed.

Following registration of the share capital increase with the Norwegian Register
of Business Enterprises, the Company will have a share capital of NOK
12,851,120.10 divided into 128,511,201 shares, each with a nominal value of NOK
0.10.

For the shares in Mossi, the final purchase price of NOK 43,594,165 has been
settled with an unsecured, interest free seller's credit with a maturity date on
31 December 2025. Kaldvik may still choose to settle the seller's credit in cash
or in new Kaldvik shares at a price equal to the abovementioned subscription
price, and will provide an update when the final decision has been made.

Pareto Securities AS has acted as financial advisor, and AGP Advokater AS as
legal advisor, to the Company in the negotiations of the terms of the
Transaction. ABG Sundal Collier ASA has acted as financial advisor, and
Advokatfirmaet Thommessen AS as legal advisor, to Heimstø and Osnes in the
negotiations of the terms of the Transaction.

For further information, please contact:

Roy-Tore Rikardsen, CEO: +354 791 0006 (mobile)

Robert Robertsson, CFO: +354 843 0086 (mobile)

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

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