Arctic Fish Holding AS – Notice of Extraordinary General Meeting

21 Aug 2025 16:00 CEST

Reference is made to the stock exchange announcement made by Arctic Fish Holding
AS ("Arctic Fish" or the "Company") on 20 August 2025 for the contemplated
private placement of EUR 35 million through the issuance of 13,128,300 new
shares in the Company (the "Offer Shares")(the "Private Placement").

Mowi ASA (owning 51.28% of the outstanding shares) and Síldarvinnslan hf.
(owning 34.19% of the outstanding shares) have now pre-committed to subscribe
for 13,128,300 Offer Shares of which 7,876,980 new shares will be subscribed by
and allocated to Mowi ASA and 5,251,320 new shares will be subscribed by and
allocated to Síldarvinnslan hf. Mowi ASA will settle its subscription amount in
the Private Placement through a conversion of the Company's debt to Mowi ASA of
EUR 21 million relating to deliveries from Mowi Feed in Norway and in Scotland
to the Company. The board has prepared a statement relating to conversion of
debt in accordance with the Norwegian Private Limited Companies Act section
10-2(3) which is attached to the notice in Appendix 3 and can be found at
www.arcticfish.is/investor-relations/.


The completion of the Private Placement and the issuance of Offer Shares is
subject to (i) approval by an extraordinary general meeting (the "EGM") of the
Company expected to be held on or about 4 September 2025 and (ii) registration
of the share capital increase in the Company with the Norwegian Register of
Business Enterprises and issuance of the Offer Shares in Euronext Securities
Oslo (VPS).

The extraordinary general meeting will be held on 4 September 2025 at 11:00
hours (GMT) / 13:00 hours (CEST). The notice of the extraordinary general
meeting is attached, and all relevant documents can be found at
www.arcticfish.is/investor-relations/.

The extraordinary general meeting will be held electronically through Microsoft
Teams, registration takes place through the company website, further information
can be found in Appendix 2.

Shareholders may also submit a proxy within 2 September 2025 at 14:00 hours
(GMT) 16:00 hours (CEST), please refer to the proxy form included with the
notice in Appendix 1 for further information.

Contact:
For additional information, please contact: CEO: Daníel Jakobsson Email:
dja@afish.is – Tel: +354 820 6827 or CFO: Baldur Smári Einarsson - Email:
bse@afish.is - Tel: +354 690 1222

Arctic Fish in brief

Arctic Fish (AFISH) is a leading salmon farmer in Iceland with an attractive and
sustainable value chain from smolt to sales. The production capacity for the
company is 29,800 tonnes MAB (Maximum Allowed Biomass) and includes licenses
covering 10 farming areas in 5 different fjords, all located in the Westfjords
of Iceland. The company's value chain consists of a state-of-the-art RAS
hatching and smolt production facility, attractive sea sites with high bearing
capacity and high-energy equipment, and a newly completed harvesting facility
with sufficient capacity to secure the utilization of the licenses and growth
objectives for the company.

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

More information:
Access the news on Oslo Bors NewsWeb site

653566_Notice to EGM - Appendix 3.pdf
653566_WEB Arctic Fish Holding AS 21.08.25.pdf