NORCOD AS: FINAL RESULT OF SUBSEQUENT OFFERING

26 Jun 2026 20:00 CEST

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR
INDIRECTLY, IN OR INTO AUSTRALIA, CANADA, JAPAN, HONG KONG, SOUTH AFRICA OR
THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION
OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN
OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN.

Reference is made to the stock exchange notice from Norcod AS ("Norcod" or the
"Company") on 15 June 2026 regarding the start of the subscription period in
the subsequent offering (the "Subsequent Offering") of up to 1,000,000 new
shares (the "Offer Shares") at a subscription price of NOK 10 per Offer Share
(the "Offer Price").

The subscription period for the Subsequent Offering ended on Friday 26 June
2026 at 16:30 CEST. By the end of the subscription period, the Company had
received valid subscriptions for 388,170 shares in the Subsequent Offering.
The board of the Company has today, pursuant to the authorisation granted by
the Company's general meeting held on 27 May 2026, resolved that a total of
388,170 Offer Shares will be allocated at the Offer Price in accordance with
the allocation criteria set out in the national prospectus dated 12 June 2026
prepared by the Company in connection with the Subsequent Offering, raising
gross proceeds of NOK 3,881,700.

Notifications of allocated Offer Shares in the Subsequent Offering and the
corresponding amount to be paid by each subscriber will be sent out in a
separate letter to each subscriber. Investors that are allocated Offer Shares
can access information on the number of Offer Shares allocated through VPS on
29 June 2026. The due date for payment of the Offer Shares is on 2 July 2026.

Subject to duly and timely payment of the Offer Shares by the subscribers, the
share capital increase pertaining to the Offer Shares is expected to be
registered in the Norwegian Register of Business Enterprises on or about 9
July 2026 and will be delivered to the VPS accounts of the subscribers shortly
thereafter. The Offer Shares will have equal rights and rank pari passu with
the Company's other shares.

Advisors:
DNB Carnegie, a part of DNB Bank ASA, is acting as bookrunner for the
Subsequent Offering (the "Manager").

Advokatfirmaet Haavind AS is acting as legal counsel to Norcod.

For more information, please contact:
Christian Riber, CEO Tel: +47 905 37 990, E-mail: cr@norcod.no
Stian Hansen, CFO Tel: +47 481 78 846, E-mail: sh@norcod.no

About Norcod:
Norcod's core business is commercial sea farming of cod and is involved in the
entire value chain through ownership and partnerships. Norcod's existing fish
farms are located in Mid-Norway and along the Helgeland coast with ideal
conditions for cod. The company is contributing to blue ocean value creation
with minimal impact on the environment while supporting local communities.
Norcod is listed on Oslo's Euronext Growth market.

This information has been submitted pursuant to the Securities Trading Act §
5-12 and MAR. The information was submitted for publication, through the
agency of the contact persons set out above, at 2026-06-26 20:00 CEST.

More information:
Access the news on Oslo Bors NewsWeb site

677162_NORCOD AS- FINAL RESULT OF SUBSEQUENT OFFERING.pdf