Norwegian Royal Salmon (NRS) – flagging

Notifiable trading

Trondheim, 3 April 2020

Reference is made to the disclosure of large shareholding of 12 February 2020, whereby the market was notified about the merger between Frøy Gruppen AS (org.no 924 294 744) ("Frøy Gruppen") and Frøygruppen AS (org. no 924 209 569 – previous name Herkules Invest 316 AS) ("Frøygruppen"), a wholly owned subsidiary of NTS ASA ("NTS"), in which NTS will issue consideration shares to Gåsø Næringsutvikling AS ("Gåsø Næringsutvikling"), the shareholder of Frøy Gruppen. As part of the merger, certain shares in Norway Royal Salmon ("NRS"), previously owned by Gåsø Næringsutvikling, will be transferred to Frøygruppen.

Today, 3 April 2020, the merger between Frøy Gruppen and Frøygruppen was implemented and registered with the Register of Business Enterprises. The merger implies that Frøygruppen is the owner of 6,993,188 shares in NRS, equivalent to 16.05% of the issued shares and votes in NRS. NTS, as the sole shareholder in Frøygruppen, is thus indirectly the owner of the shares in NRS. Gåsø Næringsutvikling no longer own any shares in NRS.

Gåsø Næringsutviling is controlled by Helge Gåsø who is the chairman and primary insider of NRS and a board member and primary insider of NTS.

The share transfer is expected to be registered in the Norwegian Central Securities Depository within few working days.

This announcement is subject to disclosure pursuant to the Norwegian Securities Trading Act sections 4-2 and 4-3.