Hofseth International AS: Contemplated Equity Issue – Mandate Announcement

19 Mar 2026 09:45 CET

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SECURITIES DESCRIBED HEREIN.

Ålesund, 19th March 2026:

Hofseth International AS ("Hofseth International" or the "Company"), is a
leading sustainable and vertically integrated Norwegian seafood company
targeting 100% utilisation of the fish and with revenues now exceeding NOK 5
billion, a +25-year long operational track record and a complete value chain.
Following the successful placement of an EUR 300m Green Senior Secured bond and
a NOK 1bn RCF in 2025, the Company enters 2026 with a significantly improved
capital structure. To further strengthen its balance sheet and ensure continued
growth and value creation across the value chain the Company is now
contemplating an equity issue.

Further, the Company has recently appointed Olav Holst-Dyrnes as new CEO.
Holst-Dyrnes is expected to start in Q3 2026, joins from Kverva (the main owner
of leading seafood companies such as SalMar, Insula, ScaleAQ, Pelagia and
Nutrimar) and brings significant experience from the seafood sector and from
leading and developing companies through periods of growth and transformation.

In connection with the planned equity issue, the Company has mandated SB1
Markets AS as Sole Manager to assist with arrangement and execution of a
contemplated private placement of new shares in the Company (the "Private
Placement"). The Private Placement is currently expected to raise gross proceeds
of approximately NOK 600 million.

The net proceeds from the contemplated Private Placement will be used to
strengthen the Company's balance sheet and support continued growth throughout
the value chain, including further development of submersible and closed pen
projects Sea Lilly and Egg set to enable doubling of farming volumes over the
near-term, in addition to working capital and general corporate purposes.

Roger Hofseth, founder and Group Chief Commercial Officer of Hofseth
International, commented:

"Hofseth International has a proven track record of value-enhancing growth, both
organically and through accretive acquisitions. As the sole operator in
Storfjorden, we benefit from a unique farming position with reduced biological
and operational risk. An equity raise will enable us to capitalise on the
significant organic growth potential within our existing licence portfolio and
further strengthen our position as a leading global seafood company."

Existing shareholders of the Company have pre-committed to subscribe for shares
in the Private Placement for an amount up to approximately NOK 200 million,
subject to customary conditions.

The Private Placement is currently expected to be carried out within Q2 2026,
but execution of the Private Placement, and timing thereof, will remain subject
to, inter alia, market conditions. The Company reserves the right, at any time
and for any reason, to amend, suspend or terminate the Private Placement.
Further information regarding the Private Placement will be provided in due
course.

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About Hofseth International

Hofseth International is a vertically integrated Norwegian seafood company with
operations spanning the full value chain from smolt production and salmon
farming to processing and global sales. The Company serves major markets across
the United States, Europe and Asia and is focused on delivering premium Atlantic
salmon products with a strong commitment to sustainability and responsible
aquaculture.

More information:
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668788_Hofseth International - Press Release - 19.03.2026.pdf