Frøya, Norway, 27 February 2025:

Reference is made to the announcement by Kaldvik AS (“Kaldvik”, the”Company”)on 20 December 2024 regarding a potential acquisition of certain key assetsinthe fish farming value chain on the east-coast of Iceland, from HeimstøAS(“Heimstø”) and Osval ehf. (“Osval”).

Kaldvik has today entered into definitive agreements to acquire (i) 100% oftheshares in Mossi ehf., which owns the property and building hosting Djupskelefh.(“Mossi”), from Heimstø, (ii) 100% of the shares in Djupskel ehf., theproducerof fish boxes in Djupivogur (“Djupskel”), from Osval, a company owned byHeimstø(53.6%) and Osnes ehf. (46.4%) and (iii) 33.3% of the shares inBulandstindurehf., the fish processing facility in Djupivogur (“Bulandstindur”), fromOsval,in which Kaldvik already owns 67.7% of the shares (jointly, the “Targets”andthe “Transaction”).

The Company expects the transactions to complete no later than end of Q1 2025.

For the sake of completeness, note that the consideration shares forthepurchase of the shares in Mossi possibly will be issued in H2 2025.Thereference in the 20 December 2024 announcement to the use of the currentboardauthorization, is therefore likely only relevant for the issue of theconsideration shares to be issued to settle the purchase price for the sharesinDjupskel and Bulandstindur.

Pareto Securities AS has acted as financial advisor, and AGP Advokater ASaslegal advisor, to the Company in the negotiations of the terms oftheTransaction. ABG Sundal Collier ASA has acted as financial advisor,andAdvokatfirmaet Thommessen AS as legal advisor, to Heimstø and Osnes inthenegotiations of the terms of the Transaction.

For further information, please contact:

Roy-Tore Rikardsen, CEO: +354 791 0006 (mobile)

Robert Robertsson, CFO: +354 843 0086 (mobile)

About Kaldvik

Kaldvik AS is one of the leading salmon farmers in Iceland and one of fewsalmonfarmers in the world with the highly sought after AquaGAP certificationwhichensures environmentally-friendly production. Kaldvik AS has a well-developedandfully integrated value-chain controlling all steps from hatchery tosales,enabling the group to provide its customer with a sustainable premiumproduct.Kaldvik AS is headquartered in Iceland.

This information is subject to the disclosure requirements pursuant to Section5-12 the Norwegian Securities Trading Act

https://newsweb.oslobors.no/message/640180