Result of the Initial Public Offering of the shares of BioMar Group A/S on Nasdaq Copenhagen

28 May 2026 07:00 CEST

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Result of the Initial Public Offering of the shares of BioMar Group A/S on
Nasdaq Copenhagen

With reference to company announcement no. 29/2026 dated 19 May 2026 on the
Initial Public Offering ("IPO" or "Offering") and admission to trading and
official listing of the shares of BioMar Group A/S ("BioMar") on Nasdaq
Copenhagen, the result of the Offering is published today.

Schouw & Co. CEO and BioMar Chair, Jens Bjerg Sørensen says: "I am pleased to
welcome BioMar's new shareholders, including Danish and international
institutional investors as well as the many Danish private investors. Investor
interest in a leading pure-play aquaculture specialist at the centre of a
growing global industry has been overwhelming. The IPO of BioMar does not mark
the end of Schouw & Co.'s ownership. We intend to remain a majority shareholder,
reflecting our strong confidence in the business, its value creation potential,
and its management team and dedicated employees."

BioMar CEO Carlos Diaz says: "The feedback received from investors in recent
weeks has been both positive and encouraging. We will work hard to deliver on
the expectations of our new shareholders. The IPO is a good platform to continue
our growth journey, driven by our high-quality product offering, commitment to
sustainability and advanced feeding technology in a market supported by rising
global demand for farmed fish and shrimp."

Highlights of the Offering

* A final offer price of DKK 108 per share of nominal value of DKK 2.50 each,
corresponding to a market value of all issued shares of BioMar of DKK 10.85
billion, including the new shares.
* The total value of the Offering amounts to DKK 2.7 billion, and DKK 3.1
billion including the full placing of the overallotment shares.
* The total Offering comprises 28,937,450 shares, including the overallotment
shares.

* BioMar has sold 463,000 new shares to raise gross proceeds of DKK 50
million.
* Schouw & Co. has sold 24,700,000 existing shares in BioMar, excluding
the overallotment option. BioMar will not receive any proceeds from the
sale of existing shares by Schouw & Co.
* As a part of the Offering, the Joint Global Coordinators have exercised
their right to overallot 3,774,450 shares amounting to 15% of the
aggregate number of shares allocated in the Offering, which is
facilitated by Schouw & Co. under a share lending arrangement, and a
corresponding overallotment option to the Joint Global Coordinators to
acquire an equivalent number of shares, exercisable, in whole or in
part, from the date of admission until 30 calendar days thereafter,
solely to cover overallotments or short positions, if any, incurred in
connection with the Offering.

* The cornerstone investors have received full allocation and have been
allocated shares for a total amount of DKK 1,350 million, corresponding to
43.2% of the total Offering, including the overallotment shares.

* The cornerstone investors are ATP (DKK 300 million), Danske Bank Asset
Management (DKK 200 million), DNB Asset Management (DKK 400 million),
Nykredit Asset Management (DKK 300 million) and TIND Asset Management
(DKK 150 million).

* Certain members of BioMar's Board of Directors, Executive Management and
certain key employees have acquired shares as part of the Offering for an
aggregated amount of DKK 14.3 million.
* In connection with the Offering, BioMar has acquired shares for an amount of
DKK 25 million to cover its obligations under a contemplated future share-
based incentive programme.
* The Offering attracted significant interest and was substantially over-
subscribed. More than 10,800 new investors have been allocated shares. 90%
of the shares (excluding the overallotment shares) have been allocated to
Danish and international institutional investors and 10%have been allocated
to retail investors in Denmark.
* With respect to applications to subscribe for amounts of more than DKK 3
million, individual allocations have been made by Schouw & Co. and BioMar's
Board of Directors after consultation with the Joint Global Coordinators.
* With respect to applications to subscribe for amounts of up to and including
DKK 3 million, reductions have been made mathematically:

* Orders for up to and including 225 shares, corresponding to DKK 24,300,
have been allocated in full.
* Orders for up to and including 4,000 shares, corresponding to DKK
432,000, have been allocated 225 shares and 10% of the remaining order.
* Orders for more than 4,000 shares have been allocated 602 shares and 3%
of the remaining order.

* The free float, representing the proportion of the share capital held by new
investors in BioMar, is 29% of BioMar's share capital, based on the
assumption that the overallotment option is exercised in full and 25% if the
overallotment option is not exercised.
* BioMar is subject to a customary 180-day lock-up, while Schouw & Co. is
subject to an extended 360-day lock-up. In addition, the members of the
Board of Directors and the Executive Management of BioMar holding shares in
BioMar are subject to a customary 360-day lock-up.
* Shares will be admitted to trading and official listing on Nasdaq Copenhagen
under the symbol "BIOMAR" in the permanent ISIN code DK0064867972 after
initial trading of temporary purchase certificates under the temporary
symbol "BIOMAR TEMP" and temporary ISIN code DK0064982482.
* The first day of trading of the temporary purchase certificates is today,
28 May 2026.
* Based on agreement with Nasdaq Copenhagen, the last day of trading of the
temporary purchase certificates has been moved forward and is expected to be
1 June 2026. Accordingly, the first day of trading of shares in the
permanent ISIN and symbol is expected to be 2 June 2026.
* The admission is conditional upon the Offering not being withdrawn prior to
settlement and completion of the Offering and BioMar making an announcement
to that effect.
* Subject to completion of the Offering and registration of the new shares
with the Danish Business Authority, the temporary purchase certificates will
automatically be exchanged in Euronext Securities (legal name: VP Securities
A/S) for a corresponding number of shares in BioMar on or around 3 June
2026.
* Payment for and settlement of the shares are expected to take place on or
around 1 June 2026 by way of delivery of the temporary purchase certificates
against payment in immediately available funds in DKK in book-entry form to
investors' accounts with Euronext Securities and through the facilities of
Euroclear and Clearstream.

More information can be found at https://investors.biomar.com/en/ipo.

Bank syndicate and legal advisers
DNB Carnegie and Morgan Stanley are appointed Lead Joint Global Coordinators and
Joint Bookrunners and Danske Bank and Nordea are appointed Joint Global
Coordinators and Joint Bookrunners. ABG Sundal Collier is acting as financial
adviser to Schouw & Co.

Gorrissen Federspiel Advokatpartnerselskab and Davis Polk & Wardwell London LLP
are acting legal advisers to BioMar and Plesner Advokatpartnerselskab and
Milbank LLP are acting legal advisers to the Lead and Joint Global Coordinators
and Joint Bookrunners. Impact Partners has been communication advisor and Monte
Debt Advisory has assisted in the refinancing of Schouw & Co. and BioMar.

Aktieselskabet Schouw & Co.

Jørgen Dencker Wisborg, Chairman
Jens Bjerg Sørensen, President

For further information:
Jens Bjerg Sørensen, President Schouw & Co., telephone +45 86 11 22 22
Carlos Diaz, CEO BioMar, telephone +45 86 20 49 70


Important notice

This announcement does not constitute an offering circular or a prospectus as
defined by Regulation (EU) No. 2017/1129 of 14 June 2017, as amended, and
nothing herein contains an offering of securities. No one should purchase or
subscribe for any securities in BioMar Group A/S (the "Company"), except on the
basis of information in the offering circular published by the Company in
connection with the offering and admission of such securities to trading and
official listing on Nasdaq Copenhagen A/S. Copies of the offering circular will
following publication be available from the Company's registered office and on
the website of the Company.

This document does not constitute, or form part of, an offer to sell, or a
solicitation of an offer to purchase, any securities in the United States or any
jurisdiction where such offer or sale would be unlawful. The securities of the
Company have not been and will not be registered under the U.S. Securities Act
of 1933, as amended (the "Securities Act") and may not be offered or sold within
the United States absent registration or an applicable exemption from, or in a
transaction not subject to, the registration requirements of the Securities Act.
There is no intention to register any securities referred to herein in the
United States or to make a public offering of the securities in the United
States
In any member state of the European Economic Area ("EEA Member State"), other
than Denmark, this communication is only addressed to, and is only directed at,
investors in that EEA Member State who fulfil the criteria for exemption from
the obligation to publish a prospectus, including qualified investors, within
the meaning of Regulation (EU) No. 2017/1129 of 14 June 2017, as amended.

This announcement is only being distributed to and is only directed at (i)
persons who are outside the United Kingdom or (ii) to investment professionals
falling within Article 19(5) of the U.K. Financial Services and Markets Act
2000 (Financial Promotion) Order 2005 (the "Order") or (iii) high net worth
entities falling within Article 49(2)(a) - (d) of the Order (the persons
described in (i) through (iii) above together being referred to as "relevant
persons"). The securities are only available to, and any invitation, offer or
agreement to subscribe, purchase or otherwise acquire such securities will be
engaged in only with, relevant persons.  Any person who is not a relevant person
should not act or rely on this document or any of its contents.

No representation or warranty, express or implied, is made by any of DNB
Carnegie Investment Bank, Filial of DNB Carnegie Investment Bank AB (PUBL),
Sverige, Morgan Stanley & Co. International plc, Danske Bank A/S and Nordea
Danmark, Filial af Nordea Bank Abp, Finland (collectively, the "Joint Global
Coordinators") or any of their respective affiliates, directors, officers,
employees, advisers or agents as to the accuracy or completeness or verification
of the information contained in this announcement (or whether any information
has been omitted therefrom), and nothing contained herein is, or shall be relied
upon as, a promise or representation by any of them in this respect, whether as
to the past or future. The information in this announcement is subject to
change. None of the Joint Global Coordinators or any of their respective
affiliates, directors, officers, employees, advisers or agents assume any
responsibility for its accuracy, completeness, or verification and accordingly
they disclaim, to the fullest extent permitted by applicable law, any and all
liability whether arising in tort, contract or otherwise which they might
otherwise be found to have in respect of this announcement or any such
statement. The Joint Global Coordinators and their affiliates are acting
exclusively for the Company and Aktieselskabet Schouw & Co. ("Schouw & Co.") and
no-one else in connection with the offering. They will not regard any other
person as their respective clients in relation to the offering and will not be
responsible to anyone other than the Company and Schouw & Co. for providing the
protections afforded to their respective clients, nor for providing advice in
relation to the offering, the contents of this announcement or any transaction,
arrangement or other matter referred to herein.

In connection with the offering, the Joint Global Coordinators and any of their
affiliates, acting as investors for their own accounts, may subscribe for or
purchase shares and in that capacity may retain, purchase, sell, offer to sell
or otherwise deal for their own accounts in such shares and other securities of
the Company or related investments in connection with the offering or otherwise.
Accordingly, references in the offering circular, to the shares being issued,
offered, subscribed, acquired, placed or otherwise dealt in should be read as
including any issue or offer to, or subscription, acquisition, placing or
dealing by, such Joint Global Coordinators and any of their affiliates acting as
investors for their own accounts. In addition, certain of the Joint Global
Coordinators, their affiliates or any other investment vehicles directly or
indirectly connected therewith may enter into financing arrangements (including
swaps, warrants or contracts for differences) with investors in connection with
which such Joint Global Coordinator (or their affiliates) may from time to time
acquire, hold or dispose of such securities. The Joint Global Coordinators do
not intend to disclose the extent of any such investment or transactions
otherwise than in accordance with any legal or regulatory obligations to do so.

In connection with the offering, DNB Carnegie Investment Bank, Filial of DNB
Carnegie Investment Bank AB (PUBL), Sverige (the "Stabilising Manager") (or
persons acting on behalf of the Stabilising Manager) may over-allot securities
or effect transactions with a view to supporting the market price of the
securities at a level higher than that which might other-wise prevail.  However,
there is no assurance that the Stabilising Manager (or persons acting on behalf
of the Stabilising Manager) will undertake stabilisation.  Any stabilisation
action may begin on or after the date of commencement of trading and official
listing of the securities on Nasdaq Copenhagen A/S and, if begun, may be ended
at any time, but it must end no later than 30 days after the date of
commencement of trading and official listing of the securities.

The offering may be influenced by a range of circumstances, such as market
conditions, and there is no guarantee
that the offering will proceed and that the listing will occur.

Information to distributors

EEA product governance requirements

Solely for the purposes of the product governance requirements contained within:
(a) EU Directive 2014/65/EU on markets in financial instruments, as amended
("MiFID II"); (b) Articles 9 and 10 of Commission Delegated Directive (EU)
2017/593 supplementing MiFID II; and (c) local implementing measures (together,
the "MiFID II Product Governance Requirements"), and disclaiming all and any
liability, whether arising in tort, contract or otherwise, which any
"manufacturer" (for the purposes of the MiFID II Product Governance
Requirements) may otherwise have with respect thereto, the shares in the Company
have been subject to a product approval process, which has determined that the
shares in the Company are: (i) compatible with an end target market of retail
investors and investors who meet the criteria of professional clients and
eligible counterparties, each as defined in MiFID II; and (ii) eligible for
distribution through all distribution channels as are permitted by MiFID II (the
"Positive Target Market"). Distributors should note that: the price of the
shares in the Company may decline and investors could lose all or part of their
investment; the shares in the Company offer no guaranteed income and no capital
protection; and an investment in the shares in the Company is compatible only
with investors who do not need a guaranteed income or capital protection, who
(either alone or in conjunction with an appropriate financial or other adviser)
are capable of evaluating the merits and risks of such an investment and who
have sufficient resources to be able to bear any losses that may result
therefrom (the "Negative Target Market", and together with the Positive Target
Market, the "Target Market Assessment"). The Target Market Assessment is without
prejudice to the requirements of any contractual, legal or regulatory selling
restrictions in relation to the offering. Furthermore, it is noted that,
notwithstanding the Target Market Assessment, the Joint Global Coordinators will
only procure investors who meet the criteria of professional clients or eligible
counterparties (except for a public offering to investors in Denmark conducted
pursuant to a separate prospectus that has been approved by and registered with
the Danish FSA).

For the avoidance of doubt, the Target Market Assessment does not constitute:
(a) an assessment of suitability or appropriateness for the purposes of MiFID
II; or (b) a recommendation to any investor or group of investors to invest in,
or purchase, or take any other action whatsoever with respect to, the shares in
the Company.

Each distributor is responsible for undertaking its own Target Market Assessment
in respect of the shares in the Company and determining appropriate distribution
channels.

UK product governance requirements
Solely for the purposes of the product governance requirements of Chapter 3 of
the FCA Handbook Product Intervention and Product Governance Sourcebook,
(together, the "UK Product Governance Requirements"), and disclaiming all and
any liability, whether arising in tort, contract or otherwise, which any
"manufacturer" (for the purposes of the UK Product Governance Requirements) may
otherwise have with respect thereto, the shares in the Company have been subject
to a product approval process, which has determined that the shares in the
Company are: (a) compatible with an end target market of retail investors and
investors who meet the criteria of eligible counterparties and professional
clients, as defined in the FCA Handbook Conduct of Business Sourcebook; and (b)
eligible for distribution through all distribution channels (the "UK Target
Market Assessment"). Distributors should note that: the price of the shares in
the Company may decline and investors could lose all or part of their
investment; the shares in the Company offer no guaranteed income and no capital
protection; and an investment in the shares in the Company is compatible only
with investors who do not need a guaranteed income or capital protection, who
(either alone or in conjunction with an appropriate financial or other adviser)
are capable of evaluating the merits and risks of such an investment and who
have sufficient resources to be able to bear any losses that may result
therefrom The UK Target Market Assessment is without prejudice to the
requirements of any contractual, legal or regulatory selling restrictions in
relation to the offering. Furthermore, it is noted that, notwithstanding the UK
Target Market Assessment, the Joint Global Coordinators will only procure
investors who meet the criteria of professional clients and eligible
counterparties. For the avoidance of doubt, the UK Target Market Assessment does
not constitute: (i) an assessment of suitability or appropriateness for the
purposes of Chapter 9A and 10A of the FCA Handbook Conduct of Business
Sourcebook; or (ii) a recommendation to any investor or group of investors to
invest in, or purchase, or take any other action whatsoever with respect to the
shares in the Company. Each distributor is responsible for undertaking its own
UK Target Market Assessment in respect of the shares in the Company and
determining appropriate distribution channels.

More information:
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