MANDATORY BID FOR THE DEPOSITARY RECEIPTS AND OUTSTANDING COMMON SHARES IN THE SCOTTISH SALMON COMPANY PLC (the "Company")

P/F Bakkafrost ("Bakkafrost") hereby announces a mandatory offer for all of the depositary receipts (representing common shares) and the common shares not covered by depositary receipts in the Company which are not already owned by Bakkafrost.

The depositary receipts and common shares covered by the offer represent 19.23% of all of the common shares issued by the Company. Bakkafrost is already the beneficial owner of 80.77% of all the common shares issued by the Company.

The offer price is NOK 28.25, which is the highest price paid by Bakkafrost for the Company's depositary receipts and common shares during the last 6 months.

The offer period commences on 11 November 2019 and ends at 18:00 CET on 9 December 2019, subject to possible extensions of up to 2 weeks.

Settlement of the offer will be made within 2 weeks from the end of the offer period.

The complete terms of the offer are set out in an offer document which, today, has been approved by the Oslo Stock Exchange.

The offer document will, on Monday 11 November 2019, be sent to all owners of depositary receipts recorded in the VPS and all owners of common shares registered in the Company's register of members as of the date hereof, if there are available addresses reflected in such records.

The offer document can also be obtained from Bakkafrost's financial advisers at the following addresses:

DNB Bank ASA, Dronning Eufemias gate 30, Oslo, Norway

Nordea Bank Abp, filial i Norge, Essendrops gate 7, Oslo, Norway

or by contacting the financial advisers directly at:

  • retail@dnb.no
  • nis@nordea.com

Further, the offer document will be available electronically at:

www.dnb.no/emisjoner
www.nordea.no/ssc

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