Endúr ASA – Artec Aqua and VAQ looking to merge, to form a stronger and more capable partner for the Aquaculture industry

08 Sep 2025 09:22 CEST

8 September 2025 - Artec Aqua AS (“Artec Aqua”) and VAQ AS (“VAQ”), both wholly
owned subsidiaries of Endúr ASA (“Endúr”), are pleased to announce an upcoming
sister company merger, with Artec Aqua as the acquiring company and VAQ as the
transferring entity. The combined entity will bring together the complementary
strengths of both organizations to create a stronger, more competitive player in
the aquaculture industry. The approval and completion of the merger will be
resolved by upcoming general meetings in the acquiring and transferring
entities.

The new organization will continue with the established dual departmental
structure, ensuring dedicated focus on both Hybrid and RAS operations, while
maintaining its geographical presence in Ålesund and Asker. Fredrik Langehaug
will continue as Managing Director of the merged company.

Through this merger, the combined entity will:

o Streamline and harmonize contract structures, pricing and risk frameworks,
tender processes, calculations, and project evaluations

o Align systems such as ERP and PLM to ensure efficiency and transparency

o Act as a one-stop-shop, offering technology-independent solutions tailored to
customer needs

o Address structural challenges, building a stronger foundation for long-term
growth

o Unlock cost synergies, improving competitiveness and value-creation

“This merger marks an important milestone for both companies. By combining our
expertise, capacity, and resources, we are positioning VAQ and Artec Aqua as a
stronger and more capable partner for our customers, suppliers, and employees,”
says Fredrik Langehaug, Managing Director of Artec Aqua.

“We at VAQ are very excited about this merger and the opportunities it creates,”
says Sondre Høidalen, Managing Director of VAQ. “I look forward to contributing
actively in the merged company, with a strong focus on business development and
new opportunities within the group. By joining forces with Artec Aqua, we are
building an even stronger platform to deliver value, innovation, and sustainable
growth for our customers and the industry”, adds Høidalen.

“As the owner of both Artec Aqua and VAQ, Endúr strongly supports this merger.
We are confident that the merged company will be even better equipped to serve
the aquaculture industry, with greater scale, innovation, and a strengthened
market presence,” comments Jeppe Raaholt, CEO of Endúr.

The merger is expected to be completed by the end of the fourth quarter this
year. Until then, both companies will continue operations as usual while
preparing for a smooth and seamless integration.

(ENDS)

For further information, please contact:

Media - Jeppe Raaholt, CEO of Endúr ASA, tel.: +47 976 69 759
Investors – Einar Olsen, CFO of Endúr ASA, tel.: +47 924 01 787

About Endúr ASA
Endúr ASA (OSE: ENDUR) is a leading supplier of construction and maintenance
projects and services for infrastructure, including facilities for land-based
aquaculture, quays, harbours, dams, bridges and other specialized concrete and
steel projects. The company and its subsidiaries also offer a wide range of
other specialized project and marine services. Endúr ASA is headquartered in
Lysaker, Norway. See www.endur.no.

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