NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR
INDIRECTLY, IN OR INTO AUSTRALIA, CANADA, JAPAN, HONG KONG, SOUTH AFRICA OR THE
UNITED STATES OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR
DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER
OF ANY OF THE SECURITIES DESCRIBED HEREIN.

Reference is made to the stock exchange notice from Norcod AS ("Norcod" or the
"Company") on 1 March 2024 with key information in relation to a subsequent
offering (the "Subsequent Offering") of up to 1,333,333 new shares (the "Offer
Shares") at a subscription price of NOK 12 per share (the "Offer Price"). The
Offer Price is equal to the offer price in the private placement of new shares
that was successfully placed on 29 February 2024 (the "Private Placement").

The Company has resolved to proceed with the Subsequent Offering, which may
raise total gross proceeds of up to NOK 15,999,996. The Subsequent Offering will
be directed towards existing shareholders in the Company as of the end of
trading on 29 February 2024, as registered in Euronext Securities Oslo ("VPS")
on 4 March 2024 (the "Record Date"), who (i) were not allocated shares in the
Private Placement, (ii) were not included in the pre-sounding phase of the
Private Placement, and (iii) are not resident in a jurisdiction where such
offering would be unlawful or, would (in jurisdictions other than Norway)
require any prospectus, filing, registration or similar action (the "Eligible
Shareholders").

Each Eligible Shareholder will be granted 0.119 subscription rights for each
existing share registered as held by such Eligible Shareholder as of the Record
Date. Each subscription right will give the right to subscribe for, and be
allocated, one (1) share in the Subsequent Offering. Over-subscription is
permitted, but the Subsequent Offering is limited to 1,333,333 shares.
Subscription without subscription rights is not permitted.

The subscription period for the Subsequent Offering commences on 22 March 2024
at 09:00 CET and ends on 4 April 2024 at 16:30 CET (the "Subscription Period").
The Company, in consultation with the Manager (as defined below), reserves the
right to extend the Subscription Period for the Subsequent Offering at any time
and without any prior written notice and at its sole discretion.
The terms and conditions for the Subsequent Offering are set out in a national
prospectus prepared by the Company in accordance with the rules in the
Securities Trading Act chapter 7 (the "Prospectus"). The Prospectus is available
at the Manager's website: www.abgsc.com

Subscription shall primarily be made through the VPS online subscription system.
Eligible Shareholders who are not able to use the VPS online subscription
system, may subscribe by correctly completing and signing an application form
(attached to the Prospectus), and delivering the same to the Manager (by mail or
email) as set out in the application form.

Subscription rights that are not used to subscribe for Offer Shares before the
expiry of the Subscription Period will have no value and will lapse without
compensation to the holder.
The due date for payment of the Offer Shares is expected to be on 8 April 2024.
The Offer Shares will, after registration of the share capital increase in the
Norwegian Register of Business Enterprises pertaining to the Offer Shares, be
registered in the VPS in book-entry form and are expected to be delivered to the
applicant's VPS account on or about 9 April 2024. The Offer Shares will have
equal rights and rank pari passu with the Company's other shares.

Completion of the Subsequent Offering is subject to (i) all necessary corporate
resolutions being validly made by the Company, including the board of directors
resolving to consummate the Subsequent Offering and issue and allocate the Offer
Shares based on the authorization granted by the extraordinary general meeting
of the Company held on 15 March 2024, and (ii) registration of the share capital
increase pertaining to the Subsequent Offering with the Norwegian Register of
Business Enterprises and delivery of the Offer Shares to the subscribers in the
VPS.
ABG Sundal Collier ASA is sole manager for the Subsequent Offering (the
"Manager"). Advokatfirmaet Haavind AS is acting as legal counsel to Norcod.

For more information, please contact:

Christian Riber, 
CEO, Norcod AS
Tel: +47 905 37 990
E-mail: cr@norcod.no 

About Norcod:
Norcod AS' core business is commercial sea farming of cod but through ownership
and partnerships is involved in the entire value chain. Norcod's existing fish
farms are located in Mid-Norway with ideal conditions for cod. The company is
contributing to blue ocean value creation with minimal impact on the environment
while supporting local communities. Norcod is listed on Oslo's Euronext Growth
market.

This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act and the EU Market Abuse Regulation
(MAR).

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