NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, INTO OR WITHINCANADA ,AUSTRALIA ,NEW ZEALAND ,SOUTH AFRICA ,HONG KONG ,JAPAN OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL Frøya,10 November 2022 Reference is made to the offer document dated17 March 2022 (the "Offer Document") and subsequent stock exchange announcements, including the settlement notification on31 October 2022 , for the recommended voluntary offer bySalMar ASA ("SalMar " or the "Offeror") to acquire all outstanding shares inNTS ASA ("NTS") (the "Offer"). Settlement of the Offer is now completed. For every share in NTS for which the Offer had been lawfully accepted, the Offeror has paid a consideration consisting ofNOK 26.86482 in cash and 0.143241 newly issued shares inSalMar .SalMar has issued at total of 9,487,371 new shares as consideration in the Offer. In addition, the Offeror has, pursuant to section 4.7 (Consideration) of the Offer Document, paid interest on the cash portion of the consideration at an interest rate of 3 month NIBOR + 1.35% per annum calculated from15 June 2022 until settlement of the Offer, equallingNOK 0.42276 per share. Following settlement of the Offer, the Offeror owns 66,235,009 shares in NTS, equalling approximately 52.69 % of the total outstanding share capital and votes in NTS, and intends to put forward a mandatory offer for all the remaining shares in NTS in accordance with chapter 6 of the Norwegian Securities Trading Act. The Offeror does not own any other voting rights, rights to shares or other financial instruments in NTS.Arctic Securities AS acts as financial advisor and receiving agent andAdvokatfirmaet BAHR AS acts as legal advisor toSalMar . For further information, please contact:Håkon Husby , Head of IR SalMar Tel: +47 936 30 449 Email: hakon.husby@salmar.no This information is information required to be made public pursuant to sections 5-12 and 4-2 of the Norwegian Securities Trading Act. AboutSalMar SalMar is one of the world's largest and most efficient producers of salmon. The group has farming operations inCentral Norway ,Northern Norway andIceland , as well as substantial harvesting and secondary processing operations inNorway , at InnovaMar in Frøya, InnovaNor in Senja and Vikenco in Aukra. In addition, the company is operating within offshore aquaculture through the companySalMar Aker Ocean .SalMar also owns 50% of the shares inScottish Sea Farms Ltd. See www.salmar.no for more information aboutSalMar . *** The Offer and the distribution of this announcement and other information in connection with the Offer may be restricted by law in certain jurisdictions. When published, the Offer Document and related acceptance forms will not and may not be distributed, forwarded or transmitted into or within any jurisdiction where prohibited by applicable law, including, without limitation,Canada ,Australia ,New Zealand ,South Africa ,Hong Kong andJapan . The Offeror does not assume any responsibility in the event there is a violation by any person of such restrictions. Persons into whose possession this announcement or such other information should come are required to inform themselves about and to observe any such restrictions. This announcement is not a tender offer document and, as such, does not constitute an offer or the solicitation of an offer to acquire the Shares. Investors may accept the Offer only on the basis of the information provided in the Offer Document. Offers will not be made directly or indirectly in any jurisdiction where either an offer or participation therein is prohibited by applicable law or where any tender offer document or registration or other requirements would apply in addition to those undertaken inNorway . Notice toU.S. HoldersU.S. Holders (as defined below) are advised that the Shares are not listed on aU.S. securities exchange and that the Company is not subject to the periodic reporting requirements of theU.S. Securities Exchange Act of 1934, as amended (the "U.S. Exchange Act"), and is not required to, and does not, file any reports with theU.S. Securities and Exchange Commission (the "SEC ") thereunder. The Offer will be made to holders of Shares resident inthe United States ("U.S. Holders") on the same terms and conditions as those made to all other holders of Shares of the Company to whom an offer is made. Any information documents, including the Offer Document, will be disseminated toU.S. Holders on a basis comparable to the method that such documents are provided to the Company's other shareholders to whom an offer is made. The Offer will be made by the Offeror and no one else. The Offer will be made toU.S. Holders pursuant to Section 14(e) and Regulation 14E under theU.S. Exchange Act as a "Tier II" tender offer, and otherwise in accordance with the requirements of Norwegian law. Accordingly, the Offer will be subject to disclosure and other procedural requirements, including with respect to the offer timetable, settlement procedures and timing of payments, that are different from those that would be applicable underU.S. domestic tender offer procedures and law. Pursuant to an exemption from Rule 14e-5 under theU.S. Exchange Act, the Offeror and its affiliates or brokers (acting as agents for the Offeror or its affiliates, as applicable) may from time to time, and other than pursuant to the Offer, directly or indirectly, purchase or arrange to purchase, Shares or any securities that are convertible into, exchangeable for or exercisable for such Shares outsidethe United States during the period in which the Offer remains open for acceptance, so long as those acquisitions or arrangements comply with applicable Norwegian law and practice and the provisions of such exemption. To the extent information about such purchases or arrangements to purchase is made public inNorway , such information will be disclosed by means of an English language press release via an electronically operated information distribution system inthe United States or other means reasonably calculated to informU.S. Holders of such information. In addition, the financial advisors to the Offeror may also engage in ordinary course trading activities in securities of the Company, which may include purchases or arrangements to purchase such securities. Neither theSEC nor any securities supervisory authority of any state or other jurisdiction inthe United States has approved or disapproved the Offer or reviewed it for its fairness, nor have the contents of the Offer Document or any other documentation relating to the Offer been reviewed for accuracy, completeness or fairness by theSEC or any securities supervisory authority inthe United States . Any representation to the contrary is a criminal offence inthe United States .
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