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 22 March 2024 regarding the start of the subscription period in
the 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 subscription period for the Subsequent Offering ended today at 16:30 CET. At
the expiry of the subscription period the Company has received subscriptions for
approximately 214,232 shares in the Subsequent Offering. 

The allocation of the Offer Shares will be resolved in accordance with the
prospectus dated 21 March 2024. The final result of the Subsequent Offering will
be published shortly thereafter, and letters regarding allocation of Offer
Shares and the corresponding subscription amount to be paid by each eligible
shareholder who has subscribed for Offer Shares in the Subsequent Offering, will
be distributed on or about 5 April 2024.    

ABG Sundal Collier ASA is acting as bookrunner 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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© Oslo Bors ASA, source Oslo Stock Exchange