SalMar enters into agreement to acquire 70% of the shares in Måsøval

08 Jul 2026 17:30 CEST

SalMar ASA ("SalMar") has today entered into an agreement with Heimstø AS
("Heimstø") to acquire Heimstø's 85,727,553 shares in Måsøval AS ("Måsøval"),
representing approximately 70% of the share capital of the company.

The purchase price is NOK 39.50 per share, representing an aggregate
consideration for the sale shares of approximately NOK 3.4 billion. The
consideration comprises 733,906 SalMar shares, representing 10% of the total
purchase price, and a cash consideration for the remaining portion. The value of
the consideration shares has been determined on the basis of a price of NOK
461.40 per share, corresponding to the closing price of the SalMar share on
Euronext Oslo Børs on 6 July 2026.

The transaction values the entire share capital of Måsøval at approximately NOK
4.84 billion, based on 122,508,455 shares outstanding as at 8 July 2026.

The transaction is expected to provide SalMar with an even stronger platform for
continued sustainable growth in Central Norway - one of the world's premier
regions for aquaculture. It builds on a shared history and a common heritage on
Frøya, which has played a formative role in shaping modern Norwegian
aquaculture. In aggregate, the transaction is expected to deliver improved
utilisation of resources, expertise and infrastructure, strengthen innovation
capability, and facilitate further development on the salmon's terms and long-
term value creation along the Norwegian coastline.

Frode Arntsen, Chief Executive Officer of SalMar, notes:

«We believe this represents an exciting industrial opportunity that will
strengthen SalMar's position in Central Norway, one of our most important core
regions for aquaculture. Måsøval is a historically well-established and well-
managed company with strong roots in the region, and its operations are a good
fit with SalMar's existing activities. The companies share common roots on
Frøya, and we see significant potential for further development. The transaction
is, though, subject to the necessary regulatory approvals and other customary
conditions, and we are now commencing these processes."

As part of the agreement, Heimstø has been granted a right, exercisable for a
period of 12 months from completion of the transaction, to sell the
consideration shares back to SalMar at a price of NOK 461.40 per share.

Completion of the transaction is conditional upon the satisfaction of customary
conditions, including relevant regulatory approvals.

After completion of the transaction, SalMar will ensure that the minority
shareholders can realise their shares in Måsøval based on a price of NOK 39.50
per share in the company.

Arctic Securities AS is acting as financial adviser and Advokatfirmaet BAHR AS
as legal adviser to SalMar. DNB Carnegie, a part of DNB Bank ASA, is acting as
financial adviser and Advokatfirmaet Thommessen AS as legal adviser to Heimstø.

SalMar will provide further information on the transaction and its implications
at the presentation of its second-quarter results on 25 August 2026.

The information contained in this announcement is considered inside information
pursuant to the Market Abuse Regulation (MAR) and is subject to the disclosure
requirements under Section 5-12 of the Norwegian Securities Trading Act. This
stock exchange announcement was published by Håkon Husby, Head of IR, at the
time and date indicated at the top of this announcement.

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