Reference is made to the stock exchange notice published on 8 August 2023 regarding the decision to initiate a strategic review in Statt Torsk ASA (OB:STATT) (Statt Torsk). The strategic review aims to optimize shareholder value and to secure financing through exploring a broad range of strategic alternatives, including financing, structural and business development opportunities. The Board of Directors in Statt Torsk (the "Board") has appointed Pareto Securities and SpareBank 1 Markets as financial advisors for this review.

Statt Torsk announced that it has received a letter of intent from Vesterålen Havbruk AS (VesterÅLen Havbruk As) regarding a potential business combination, of which the structure is yet to be determined. The proposal values the equity in Statt Torsk at NOK 255 million (implying a value per share of NOK 1.20) and Vesterålen Havbruk at NOK 610 million. The potential transaction is contemplated to be settled in Vesterålen Havbruk shares and may involve a delisting of Statt Torsk shares from trading on Euronext Growth Oslo.

Based on this Statt Torsk has decided to enter into a period of discussions with Vesterålen Havbruk to further explore the business combination and evaluate the proposal. Further announcements will be given when the process has been concluded. As part of the business combination, Statt Torsk may temporarily modify its plans to transfer juveniles to its Rekvika site.

Statt Torsk will in any case continue to deliver high-quality fresh cod from its Stokkeneset site where the majority of the production is being sold on a long-term contract at attractive prices.