Norway Royal Salmon ASA (NRS): Statement from the Board of Directors NRS

The board of directors of Norway Royal Salmon ASA (NRS) notes the announcement by SalMar ASA on 20 August 2021 that it intends to launch a voluntary cash offer for NRS at a price of NOK 270 per share. The board also refers to NTS ASA's announcement on 11 August 2021 of the increase of the offer price in its mandatory offer to NOK 240 per share.

The board of directors is pleased to note that following the initiation of the strategic process after the announcement of NTS ASA's mandatory offer at NOK 209 on 16 July 2021, the shareholders have been presented with offers at significantly higher prices than the original offer from NTS ASA.

The board of directors notes that the offer price in the intended offer from SalMar ASA is significantly higher than the offer price of NOK 240 in the mandatory offer from NTS ASA. It should be noted, however, that the offer from NTS ASA is unconditional while the offer from SalMar ASA will be conditional upon a minimum acceptance of more than 50% of the shares in NRS on a fully diluted basis and certain other conditions (as described in the announcement from SalMar ASA).

Given the significant price difference between the offers, the board of directors is of the view that the intended offer from SalMar ASA is superior to the offer from NTS ASA. In consequence, the board of directors recommends that shareholders do not accept the offer from NTS ASA. However, shareholders should make their own evaluations of the offers and make their own decisions based on their own investment preferences.

The board of directors will review the offer document from SalMar ASA when published, and will publish a formal statement in accordance with section 6-16 of the Securities Trading Act in due course.

This statement is based on the information available, and the situation as it stands, as of today.

The chairman of the board of directors, Helge Gåsø has not participated in the board's consideration of the offer from NTS ASA or the intended offer from SalMar ASA.

Shareholders are advised not to accept any offer until the latest possible time for doing so.

For further information, please contact:

Karl-Johan Bakken, vice chair, mob +47 901 05 697